The board of Worldgate Global Logistics Ltd. announced that on 5 January 2023 (after trading hours), the company and Zhongwei Supply Chain Co. Limited entered into a strategic cooperation agreement. The company and Zhongwei Supply Chain have principally agreed to strategically cooperate in the supply chain business by way of, amongst others, joint establishment of companies, equity and debt investment, acquisition of companies and other investment in the industry.

The coverage of the cooperation includes but not limited to broad supply chain business, depth supply chain business and supply chain finance business (Supply Chain Businesses). Both parties will continue to expand the scope of cooperation according to market conditions and may further explore the mode and direction of cooperation and other matters in relation to cooperation projects. Reasons For And Benefits Of The Strategic Cooperation Agreement: With more than 15 years of experience, the Company is principally engaged in the provision of international freight forwarding and logistics services, warehousing and related services.

With detailed market analysis and PRC policy support, the company is confident in the outlook of the supply chain industry and the growth prospects of Zhongwei Supply Chain, which has advantages in technologies and services related to Supply Chain Businesses. The company entered into a Strategic Cooperation Agreement with Zhongwei Supply Chain to explore strategic cooperation opportunities on the basis of promoting the development of both parties. With strength in logistics services, extensive logistics network, standardized management and service system, global customers confide in the Company.