MingZhu Logistics to acquire Feipeng Logistics.

MingZhu Logistics, a trucking service provider, agreed to acquire Feipeng Logistics, a services provider of slack coal transportation. Financial terms were not disclosed. "We have a strong partner in Feipeng, with the local presence and expertise critical for a successful venture. The combination will increase our capacity by 5X, as we expand well beyond our pre-Covid level. We have spent a lot of time analyzing the transportation and logistics market to uncover growth opportunities that closely align with our business strategy and priorities. This latest collaboration will greatly strengthen our business capabilities in the road-railway intermodal market, and build upon the framework we have already established under our cooperation agreement with Sinotrans Logistics Limited's wholly owned subsidiary, China Merchants Logistics Group Urumqi Limited," Yang Jinlong, MingZhu CEO.