SHENZHEN, China, Aug. 15, 2023 /PRNewswire/ -- Addentax Group Corp. ("Addentax" or the "Company") (Nasdaq: ATXG), an integrated service provider focusing on garment manufacturing, logistics services, and property management and subleasing, has announced significant progress in its collaborative initiative with Games-as-a-Service ("GaaS") firms for the development of Artificial Intelligence ("AI") Online Operational Tools (referred to as the "AI project"), which was launched on June 30, 2023. This advancement signifies a substantial step forward in Addentax's venture into AI innovation.
The AI project team has been engaging in strategic discussions with three venture capital firms from the United States and Europe. These discussions, spanning several weeks, have generated substantial enthusiasm within the Venture Capital firms, highlighting the potential inherent in the implementation and commercialization of the AI project in the dynamic landscape of online gaming.
In parallel, the AI project team is in the final stages of negotiating a collaborative partnership with an online gaming enterprise based in the United States. This partnership emphasizes the industry's recognition of the transformative capabilities of the AI project. The upcoming integration of the AI project team's innovative tools and products into this gaming enterprise's ecosystem represents a significant step towards enhancing operational efficiency and enriching the user experience.
The AI project is set for the imminent launch of its prototype in September 2023, which is aimed at optimizing commercialization strategies and facilitating insightful big data analyses. Furthermore, this debut will be swiftly followed by the introduction of advanced functionalities, including real-time content updates and sustainable profitability enhancements.
Reflecting on the significant strides achieved within a mere two months since the project's inception, Mr. Hong, Chairman, and CEO of Addentax, shared his perspective: "Our journey within the AI internet sector has been marked by remarkable progress. As Addentax forges ahead, our commitment to diversify our portfolio within the AI space remains steadfast. We are resolute in our mission to deliver enduring value to our valued shareholders in the days ahead."
About Addentax Group Corp. Corp.
Addentax Group Corp. Corp. is an integrated service provider specializing in garment manufacturing, logistics services, and property management and subleasing. Its apparel manufacturing business includes sales to wholesalers and is based in China. The logistics business, which includes delivery and express services, covers 79 cities in 7 provinces and 2 municipalities in China. The property management and subleasing business provides relevant services to clothing wholesalers and retailers in the apparel market. The epidemic prevention supplies business includes manufacturing and distributing quarantine products, as well as reselling supplies purchased from the third parties in domestic and overseas markets. More information please visit the website: https://www.addentax.com/.
Safe Harbor Statement
All statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions are intended to identify such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to consider risk factors, including those described in the Company's filings with the SEC, that may affect the Company's future results. All forward-looking statements attributable to the Company and its subsidiaries or persons acting on their behalf are expressly qualified in their entirety by these risk factors. The forward-looking events discussed in this press release and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties, and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this press release and other statements made from time to time by us or our representatives might not occur.
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Addentax Group Corp. Corp.
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