SHENZHEN, China, Oct. 24, 2023 /PRNewswire/ -- Jayud Logistics Technology Co., Ltd (NASDAQ: JYD) ("Jayud" or the "Company"), a leading end-to-end supply chain solution provider based in Shenzhen, specializing in cross-border logistics, has finalized an important extension of its First-Mile Logistics Service Agreement (the "Agreement") with Pinduoduo, a leading social e-commerce firm headquartered in Shanghai. The contract was officially signed on August 1, 2023.
Under the terms of the Agreement, Jayud will manage the overseas logistical operations for Pinduoduo, including markets in America and Europe. Jayud's comprehensive services will encompass first-mile collection, domestic export customs clearance, international transport, and customs services. The timing is opportune, as Pinduoduo has recently achieved 900 million active buyers and generated over $18.9 billion in revenue. As a vital partner in cross-border first-mile logistics, Jayud's services will not only expand Pinduoduo's customer base but also attract more merchants to their platform. This increased scale will in turn enable merchants to offer more competitive pricing and customized products.
Xiaogang Geng, Chairman of the Board and CEO of Jayud, stated, "We are honored to finalize our contract with Pinduoduo. As Pinduoduo gains global prominence, Jayud is proud to be a key player in its logistical success. Recognizing that Pinduoduo skillfully integrates online e-commerce and offline distribution, particularly in providing affordable and convenient grocery services, we believe Jayud's global expertise aligns well with their mission. We look forward to advancing our shared vision with Pinduoduo."
About Jayud Global Logistics Limited
Jayud Global Logistics Limited is one of the leading Shenzhen-based end-to-end supply chain solution providers in China, focusing on cross-border logistics services. Headquartered in Shenzhen, the Company benefits from the unique geographical advantages of providing a high degree of support for ocean, air, and overland logistics. The Company has established a global operation nexus featuring logistic facilities throughout major transportation hubs in China and globally, with footprints in 12 provinces in Mainland China and 16 countries across six continents. Jayud offers a comprehensive range of cross-border supply chain solution services, including freight forwarding, supply chain management, and other value-added services. With its strong service capabilities and research and development capabilities in proprietary IT systems, the Company provides customized and efficient logistics solutions and develops long-standing customer relationships. For more information, please visit the Company's website: https://ir.jayud.com.
Forward Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy, and financial needs, including the expectation that the Offering will be successfully completed. Investors can identify these forward-looking statements by words or phrases such as "may", "will", "expect", "anticipate", "aim", "estimate", "intend", "plan", "believe", "is/are likely to", "potential", "continue" or other similar expressions. The Company undertakes no obligation to update or revise publicly any 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 review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.
For more information, please contact:
Jayud Global Logistics Limited
Investor Relations Department
Investor Relations Contact:
Matthew Abenante, IRC
Strategic Investor Relations, LLC
SOURCE Jayud Global Logistics Limited