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Addentax Group Corp. Announces Strategic Fintech Initiative and Negotiations to Acquire Up to 20 Online Lending Platforms in Asia Pacific Representing Over 600,000 Customers and Estimated Annual Loan Volume Exceeding HK$25 Billion

ATXG
  • Addentax Group Corp. (Nasdaq: ATXG) announced mature negotiations to acquire multiple leading online money lending platforms across the Asia Pacific region.
  • Definitive agreements are expected to be executed subject to ongoing negotiations, due diligence, regulatory approvals, & other customary conditions.
  • The target platforms offer AI-supported credit assessment, digital asset-related financial services where permitted, & personal digital lending.
  • Upon completion, the combined platforms would serve over 600,000 customers with an estimated aggregate annual loan origination volume exceeding HK$25 billion.
  • CEO Hong Zhida stated the initiative aims to build a technology-driven digital credit platform with meaningful scale & regional market reach.
  • The transactions require final due diligence, board approvals, & approvals from relevant financial regulatory authorities in target jurisdictions.
  • There is no assurance that definitive agreements will be executed or that any transactions will be completed.
  • Addentax Group Corp. is currently an integrated service provider specializing in garment manufacturing & logistics services.