SHENZHEN, China, Oct. 18,
2023 /PRNewswire/ -- Addentax Group Corp. ("Addentax"
or the "Company") (Nasdaq: ATXG), an integrated service provider
focusing on garment manufacturing, logistics service, property
management, and subleasing, has announced an update in its journey
towards AI-driven excellence. The company has entered a research
and development ("R&D") agreement with Xi'an University ("Xi'an University") of Electronic Science and
Technology, solidifying its strategic collaboration with GW Reader
Sdn. Bhd. ("GW Reader"), a global pan-entertainment platform. This
collaborative effort promises to reshape the landscape of AI-based
content extraction and creation for novels.
Building on the foundation laid with GW Reader in their
July 6, 2023 announcement, Addentax's
commitment to innovation and the development of Games-as-a-Service
("GaaS") firms has taken a significant leap forward. In
June 2023, Addentax embarked on an
ambitious project aimed at the creation of Artificial Intelligence
("AI") Online Operational Tools, marking a pivotal moment in the
company's evolution. With the subsequent collaboration with GW
Reader, Addentax set out to extend its presence in the AI-based
pan-entertainment platform sector.
Today, the synergy between Addentax, GW Reader, and Xi'an University signifies the establishment
of a comprehensive service chain spanning from AI technology
R&D to its practical application in Games-as-a-Service and
pan-entertainment industries.
The scope of this AI R&D collaboration encompasses various
facets of AI technology, including translation system management,
content extraction management systems, content creation management
systems, among others. Notably, Addentax will retain full
copyright, usage, and ownership of the R&D products arising
from this collaboration.
Chairman and CEO of Addentax, Mr. Hong Zhida, expressed his
enthusiasm about this transformative endeavor, stating, "We are
committed to expanding our R&D capabilities and diversifying
our business lines within the AI technology realm. This new
partnership with a prestigious AI research institute is a pivotal
step in that direction. We firmly believe that the establishment of
a complete service chain, from AI technology R&D to its
real-life application, will set us apart in the highly
competitive AI industry."
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. For more information about the
Company, please visit the website: https://www.addentax.com/.
Caution Concerning Forward Looking Statements
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.
These forward-looking statements are based on information currently
available to Addentax and its current plans or expectations and are
subject to a number of known and unknown uncertainties, risks and
other important factors that may cause our actual results,
performance or achievements to be materially different from any
future results, performance or achievements expressed or implied by
the forward-looking statements. These and other important factors
are described in detail in the "Risk Factors" section of Addentax's
Annual Report on Form 10-K for the year ended March 31, 2023. Although we believe the
expectations reflected in such forward-looking statements are
reasonable, we can give no assurance that such expectations will
prove to be correct. 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.
Company Contact:
Public Relations Contact:
Addentax Group Corp. Corp.
Phone: + (86) 755 86961
405
simon.ng@zgyingxi.com
Investor Relations Contact:
Sherry Zheng
Weitian Group LLC
1-718-213-7386
shunyu.zheng@weitian-ir.com
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SOURCE Addentax Group Corp.