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MingZhu Logistics Holdings Ltd. (YGMZ) Stock Declining in Aftermarket, Here’s the Reason.

MingZhu Logistics Holdings Ltd (YGMZ) is a Chinese professional trucking service provider with a 4A rating. The company offers customized solutions to the clients for goods delivery via self-owned fleets tractors, trailers, and subcontractor fleets. The potential market of the company includes sizeable logistic firms, freight forwarders, and operators of warehouses.

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The price of YGMZ stock during the regular trading on December 29, 2021, with a worthy incline of 19.77% was $2.12. At last check in the aftermarket, the stock slightly dipped by 1.89%.

YGMZ: Events and Happenings

On December 29, 2021, YGMZ reported about its entry into a Share Acquisition Agreement on December 29, to purchase 100% of the equity interest of Cheyi (BVI) Ltd, an online car-hailing and driver management service provider. The acquisition was worth an aggregate of $29.4 million, consisting of a sum of 3,189,000 fully paid ordinary shares issued to Cheyi Ltd stockholders.

YGMZ: Key Financials

On December 23, 2021, YGMZ reported its financial results for the six months period ended June 30, 2021. Some of the key updates are as follows

Revenue

Revenue for the first six months of 2021 was $9.6 million and it improved by 8.2% or $0.7 million, as compared to $8.9 million for the same period the prior year.

Net Earnings/Loss per Share

Basic and diluted net loss for the first six months of 2021, was $0.35 million or $0.02 per share, as compared to net income of $0.1 million or $0.01 per share for the same period of last year.

YGMZ: CEO Comments

While commenting on the fiscal report of 2021, Mr. Jinlong, CEO of the company said that the company ended the first six months of 2021 at stronger financial outcomes, with 8.2% yearly revenue growth, 15% increase in gross profit, and 24% surge in the operating income of the company.

On December 13, 2021, YGMZ reported its determination to expand the commercial liquor distribution business. The Company anticipates to collaborate with a distributor of Baijiu to improve its commercial liquor distribution market across the country. On October 12, 2021, YGMZ) reported about its entry into a non-binding MOU to purchase the regulatory interest of Xinjiang Feipeng Logistics Company. Feipeng is a service operator of slack coal transference via road-railway link system.

On September 27, 2021, YGMZ reported that the Company attended the 16th International Logistics and Supply Chain Fair on September 23-25. The company received an award for best Cross-Border eCommerce Logistics Service Operator. the company was also included in the Top 20 European Special Line Logistics Enterprises and Overseas Warehouse.

Conclusion

The company’s stock is 55% down as compared to the past six months. But recently the stock price showed a significant incline after the company’s announcement of positive financial results. But the most recent decline in the aftermarket stock price came after the company’s announcement of acquiring the shares of CheYi Network. The analysts are believing that the investment rate will flourish for the company in the coming days.

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