Addentax Proposes Acquisition of Riches Group

Written by Emily J. Thompson, Senior Investment Analyst

Source: Newsfilter

Updated: 2d ago

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ATXG-5.72%

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Source: Newsfilter

Strategic Acquisition Plan: Addentax Group announced a proposed acquisition of Hong Kong's Riches Group's offshore wealth management and cross-border services, which is expected to contribute approximately HKD 300 million in annual revenue upon completion, significantly advancing its global expansion strategy.
Business Integration Advantages: The acquisition will provide Addentax access to Riches Group's core assets, including a comprehensive suite of wealth management services, which is anticipated to enhance the company's competitiveness in the high-net-worth client market and strengthen its cross-border financial service capabilities.
Technological and Innovation Enhancement: The acquisition will enable Addentax to leverage Riches Group's AI-driven wealth advisory capabilities, expected to improve the precision and efficiency of asset allocation strategies, thereby driving technological development within the global fintech sector.
Market Expansion Potential: By integrating Riches Group's client network and professional team, Addentax will be positioned to expand its offshore business in high-growth markets such as Southeast Asia, Europe, and North America, further enhancing its ability to serve global high-end financial needs.

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About ATXG

Addentax Group Corp is a holding company principally engaged in the manufacture of garment and provision of logistic services and others. The Company mainly conducts its businesses through four segments. Garment Manufacturing segment is engaged in the manufacture of garment and sales of garment to wholesalers. Logistic segment is involved in the provision of delivery and courier services covering cities and municipalities in China. Property Management and Subleasing segment provides shops subleasing and property services for garment wholesalers and retailers in the garment market.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.

Addentax Group Proposes Acquisition of Riches Group

2 days agoPRnewswire

Strategic Acquisition Plan: Addentax Group announced a proposed acquisition of Hong Kong's Riches Group offshore wealth management and cross-border service business, which is expected to contribute approximately HKD 300 million in annual revenue upon completion, significantly advancing the company's global expansion strategy.
Service Ecosystem Integration: Riches Group's diversified offerings, including global wealth management, international education, and cross-border healthcare, have historically generated monthly transaction volumes exceeding HKD 100 million, enhancing Addentax's capabilities to serve high-net-worth clients post-acquisition.
AI and Digital Asset Capabilities: The acquisition will provide Addentax access to Riches Group's AI-driven wealth advisory capabilities and compliant digital currency services, which are expected to enhance the precision and efficiency of its wealth management services, addressing market demand for digital assets.
Global Market Expansion: By integrating Riches Group's client network and professional team, Addentax plans to expand its business footprint in high-growth markets such as Southeast Asia, Europe, and North America, further solidifying its competitive position in the global fintech sector.