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Highlights

  • Acquisition involves issuance of 2 million shares at closing, plus up to 4 million in earnouts
  • Earnout contingent on Mingzhuchun achieving USD1 million net income in 2025 and 2026
  • Transaction expands MingZhu’s reach into China’s liquor distribution sector

MingZhu Logistics Holdings Limited (Nasdaq: YGMZ) has entered into a Share Purchase Agreement (SPA) to acquire full ownership of Shenzhen Mingzhuchun Wine Co., Ltd. The agreement includes the issuance of 2 million ordinary shares upon closing. Additionally, Mingzhuchun’s shareholder may receive two earnout payments of 2 million shares each, if the business generates net income of at least USD1 million in both fiscal years 2025 and 2026.

Founded in 2002 and based in Shenzhen, MingZhu Logistics Holdings Limited is a trucking and logistics provider serving businesses across China. With regional logistics terminals in Guangdong Province, the company offers transportation services through a combination of self-owned and subcontracted fleets. The announced acquisition aligns with MingZhu’s stated objective to expand into China’s commercial liquor distribution market.

Mingzhuchun operates its liquor business through two subsidiaries, Xiamen Bainian Qianzhuang Wine Group Co., Ltd. and Ningde Mingfu Wine Co., Ltd. The company distributes baijiu, a dominant product in China’s spirits market, primarily brewed in Maotai Town, Guizhou. Liquors from this region are widely recognized for their quality and traditional brewing methods.

The SPA closing remains subject to satisfaction of closing conditions as outlined in the agreement. The transaction reflects MingZhu’s continued strategy to partner with liquor and spirits distributors to enhance its national distribution footprint.