Shenzhen March 1st / US News / – Pearl Freight Holding Co., Ltd. (“Pearl” or “Company”) (NASDAQ Trading Code: YGMZ), a leading professional truck transport service provider in China Announces an agreement with the Rurential Subsidiary China Merchants Bureau of China and Foreign Logistics Co., Ltd. (“Merchants Logistics”) reached an agreement. The agreement aims to complete the end of the “first and last kilometer” in the coal public rail transport.
According to the agreement, Pearl will be responsible for connecting coal mines and railroad logistics and container transportation services. Two companies expect, higher efficiency, lower cost multimodal service models will establish new standards for future transportation. The cooperation agreement will focus on serving the rapid growth of Xinjiang. It is expected that the final coal transport has grown from 73.2 million tons in 2018, and it will reach 87.7 million tons (data source: Franos Tsisati) by the end of 2021. Xinjiang is one of the core transport hubs of “a belt all the way”, accounting for excellence, and is a strategic gateway.
Mr. Yang Jinlong, Chairman and CEO of Pearl, commented: “This is a very exciting progress in our company’s sustainable development, we expect this It will promote the acceleration growth of the business in the next few years. We have an exclusive cooperation with one of the most historic and largest companies in China, to initially solve the ‘first and last kilometer of the last coal transport. As the region The increase in infrastructure investment and the rapid growth of demand, we expect this agreement to become a more important, long-term, mutually beneficial cooperation. We will fully commit to expand capacity through organic growth and value-added acquisitions to meet the overall higher The expected demand. “