SHENZHEN, China, Aug. 1, 2023
/PRNewswire/ -- Jayud Global Logistics Limited (NASDAQ: JYD)
("Jayud" or the "Company"), one of the leading Shenzhen-based end-to-end supply chain
solution providers in China, with
a focus on providing cross-border logistics services, today
announced a significant expansion of its operations. The Company
has signed a contract with Shenzhen Shennong International
Logistics Development Co., Ltd., to lease cold storage facilities
for frozen and refrigerated products.
The expansion involves adding a state-of-the-art cold storage
facility to its warehouse. The warehouse operates a 30,000 square
meters area, of which 10,000 square meters is dedicated to
temperature-controlled storage, and another 10,000 square meters is
dedicated to dry storage. This addition will provide dry, room
temperature, refrigerated, and frozen storage space to cater to
diverse logistics needs.
Mr. Xiaogang Geng, Chairman of
the Board of Directors & Chief Executive Officer of Jayud,
commented, "Through this strategic expansion, Jayud is
well-positioned to leverage the thriving cold chain logistics
market, ensuring reliable, efficient, safe, and cost-saving
transportation and storage of frozen and refrigerated. We are
better positioned than ever to ensure that these products reach
consumers in the best possible condition, strengthening our ability
to deliver safe, quality-assured, and diverse food products to the
tables of millions across China."
The move is aligned with the recent trends in China's cold chain logistics market, which
continues to experience robust growth. According to the China Cold
Chain Committee and The Intelligence Research Group, China's cold chain industry sector experienced
double-digit growth in 2020, reaching a market size of US$58 billion, up 22.38% year-on-year. Further
projections suggest that by 2025, the market size is expected to
surge to approximately US$126
billion.
Supporting this, market research firm Mordor Intelligence
forecasts that the China's cold
chain logistics market will expand from US$77.97 billion in 2023 to US$125.97 billion by 2028, indicating a CAGR of
10.07% during the forecast period from 2023 to 2028.
With China accounting for
approximately 60% of the world's total vegetable production, 30% of
fruit and meat production, and 40% of eggs and aquatic products,
the need for efficient and expansive cold chain logistics is
evident. The burgeoning middle class and upper-middle class
consumer population demands a diverse range of fresh agricultural
products with heightened attention to food safety and quality.
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,
with a focus on cross-border logistics services. Headquartered in
Shenzhen, the Company benefits
from the unique geographical advantages of providing 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 6 continents.
Jayud offers a comprehensive range of cross-border supply chain
solution services, including freight forwarding services 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 at: 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
Email: ir@jayud.com
Investor Relations Contact:
Matthew Abenante, IRC
President
Strategic Investor Relations, LLC
Tel: 347-947-2093
Email: matthew@strategic-ir.com
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SOURCE Jayud Global Logistics Limited