盐港明珠招股说明书-2019-09-27(6)

盐港明珠招股说明书-2019-09-27

PROSPE CTUS SUMMARY

This summary highlights certain information contained elsewhere in this prospectus. You should read the entire prospectus carefully, including our financial statements and related notes and the risks described under “Risk Factors”beginning on page 7. W e note that our actual results and future events may differ significantly based upon a number of factors. The reader should not put undue reliance on the forward-looking statements in this document, which speak only as of the date of this prospectus.

This prospectus contains information from a report commissioned by us and prepared by Frost & Sullivan, an independent market research firm, to provide information on the transportation industry in China and certain regions thereof.

All references to “we,” “us,” “our,” or similar terms used in this prospectus refer to MingZhu Logistics Holdings Limited明珠货运控股有限公司, a Cayman Islands exempted company, including its wholly-owned subsidiaries, unless the context otherwise indicates.

“PRC” or “China” refers to the People’s Republic of China, excluding, for the purpose of this prospectus, Taiwan, Hong Kong and Macau, “RMB” or “Renminbi” refers to the legal currency of China and “$” or “U.S. dollars” refers to the legal currency of the United States.

Overview

We are one of China’s fastest growing trucking services provider in China with over 17 years of experience in the transportation and logistics industry. We formed our first operating subsidiary in 2002 to engage in the business of trucking services and subsequently formed four other wholly owned subsidiaries. Our current operations are conducted through our subsidiaries. We experienced a steady growth in our business in recent years and our revenue increased by 34.1% in 2018 compared to 2017. As a result of our continuous growth, we have become the second largest transportation service provider in the G uangdong region and have been recognized and accredited by the China Federation of Logistics and Purchasing as a 3A-grade trucking service provider.

Our transportation services operate out of two terminals, one in the G uangdong region, and one in the Xinjiang region. We primarily provide Dedicated Truckload Services within the PRC. We have created a successful business model that has allowed us to expand our customer base and market coverage whilst maintaining good relations with our existing customers. With the proceeds raised, we intend to carry out our strategy that will allow us to reach our mission to become China’s largest and most trusted transportation company.

We operate a truckload fleet with 132 tractors and 90 trailers, all of which are owned by us. G iven the large scale of our fleet, we offer both network density and broad geographic coverage to meet our customers’ diverse transportation needs within the PRC.

Our customers primarily include sizeable logistics companies, freight forwarders and warehouse operators in the PRC. During the fiscal years 2018 and 2017, we had 40 and 36 customers, respectively, and our top five customers accounted for approximately 63.9% and 71.4% of our total revenue, respectively.

We generate revenue from our trucking service business. Our total revenue was $27,676,789 and $20,616,011 for the fiscal years of 2018 and 2017, respectively, representing an increase of approximately 34.1%. We recorded an income from operations of approximately $4,034,766 and $2,317,476 for the fiscal years of 2018 and 2017, respectively. For the fiscal years ended December 31, 2018 and 2017, our revenue generated from G uangdong and Xinjiang provinces accounted for 52.2% and 47.8%, respectively, of our total revenue.

Our Strengths

We believe that the following strengths differentiate us from our competitors and provide us with advantages for realizing the potential of market opportunity:

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●Substantial Industry Experience

●Long-Standing Relationships with Customers in the PRC, primarily including sizeable third-party logistics companies

●Experienced and Motivated Management Team

●Sizable Fleet Consisting of Over 130 Tractors and 90 Trailers

●Well-Functioned Network

●Fleet and Maintenance System designed to Optimize Life-Cycle Investment

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