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Mingzhu Announces Unaudited Financial Results for the Six Months Ended June 30, 2024

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SHENZHEN, China, Dec. 31, 2024 /PRNewswire/ — MingZhu Logistics Holdings Limited (“MingZhu” or the “Company”) (Nasdaq: YGMZ), an elite provider of logistics and transportation services to businesses, today announced its unaudited financial results for the six months ended June 30, 2024.

Mr. Jinlong Yang, CEO of MingZhu, commented, “After the severe negative impact of the COVID downturn, our focus has been on rebuilding our core logistics business. This process has demanded substantial resources, including significant investments and dedicated personnel to meet customer needs. Unfortunately, the additional costs, coupled with higher interest rates, have been amplified by lower sales during the six months ending June 30, 2024, resulting in an increased net loss. Moving forward, our priorities are twofold. First, we are committed to returning sales growth in our core logistics business while reducing operating expenses to improve profitability. While this will take time, we are encouraged by early signs of progress despite uncertainties from rising global tensions. Second, we are prioritizing long-term business diversification to position the company for future success in an evolving market. Our team brings extensive expertise in operating across China, where we have built a reputation as a trusted partner in safely and efficiently transporting goods. We’ve successfully expanded into adjacent opportunities, such as premium liquor distribution, leveraging our logistics infrastructure and partnerships. Looking ahead, we plan to explore additional opportunities that capitalize on our established infrastructure, dedicated ecosystem, and deep local connections to create value for our shareholders.”

Operating Results for the Six Months Ended June 30, 2024

Revenue for the six months ended June 30, 2024, decreased by $33.2 million or 59.2%, to $22.9 million from $56.1 million for the same period as last year.

Total costs decreased by $31.9 million, or 58.6%, to $22.6 for the six months ended June 30, 2024 as compared to $54.4 million for the six months ended June 30, 2023.

Net loss totaled approximately $9.8 million for the six months ended June 30, 2024, as compared to a net loss of approximately $0.9 million for the six months ended June 30, 2023, representing an increase of $8.9 million.

Balance Sheet and Cash Flow

Cash and cash equivalents dropped by $4.0 million to $1.3 million as of June 30, 2024, as we only need to maintain such a smaller balance of cash when our revenues and costs declined.

About MingZhu Logistics Holdings Limited (NASDAQ: YGMZ)

Established in 2002 and headquartered in Shenzhen, China, MingZhu Logistics Holdings Limited is a 4A-rated professional trucking service provider. Based on the Company’s regional logistics terminals in Guangdong Province and Xinjiang Autonomous Region, MingZhu Logistics Holdings offers tailored solutions to our clients to deliver their goods through our network density and broad geographic coverage across the country by a combination of self-owned fleets tractors and trailers and subcontractors’ fleets. For more information, please visit ir.szygmz.com.

Forward-Looking Statements

The statements in this press release regarding the Company’s future expectations, plans and prospects constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements regarding plans, goals, objectives, strategies, future events, expected performance, assumptions and any other statements of fact that have not occurred. Any statements that contain the words “may”, “will”, “want”, “should”, “believe”, “expect”, “anticipate”, “estimate”, “calculate” or similar statements that are not factual in nature are to be considered forward-looking statements. Actual results may differ materially from historical results or from those expressed in these forward-looking statements as a result of a variety of factors. These factors include, but are not limited to, the Company’s strategic objectives, the Company’s future plans, market demand and user acceptance of the Company’s products or services, technological advances, economic trends, the growth of the trucking services market in China, the Company’s reputation and brand, the impact of industry competition and bidding, relevant policies and regulations, fluctuations in China’s macroeconomic conditions, and the risks and assumptions disclosed in the Company’s reports provided to the CSRC (China Security Regulatory Commission). For these and other related reasons, we advise investors not to place any reliance on these forward-looking statements, and we urge investors to review the Company’s relevant SEC filings for additional factors that may affect the Company’s future results of operations. The Company undertakes no obligation to publicly revise these forward-looking statements subsequent to the filing of these documents as a result of changes in particular events or circumstances. 

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STRADVISION to Showcase Groundbreaking ADAS Innovations at CES 2025 featuring Texas Instruments technology

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Demonstration of the new TI TDA4VPE-Q1 automotive system-on-chip with STRADVISION’s production-ready SVNet 3D perception network for ADAS and autonomous driving

LAS VEGAS, Jan. 5, 2025 /PRNewswire/ — STRADVISION, a leader in deep learning-based vision perception technology is set to showcase their latest innovations featuring Texas Instruments (TI) processors at CES 2025. The collaboration highlights the integration of TI’s TDA4VPE-Q1 system-on-a-chip (SoC) for L2 domain controllers and STRADVISION’s SVNet 3D Perception Network, a production-ready, deep learning-powered solution that redefines ADAS and autonomous driving capabilities.

A Fusion of Cutting-Edge Technologies: SVNet 3D Perception Network based on the TDA4VPE-Q1 SoC

The TI TDA4VPE-Q1 automotive SoC, designed for multi-camera ADAS applications, integrates advanced sensor fusion, edge AI, graphics, and video co-processing. With 16 TOPS of AI performance, 4x Arm® Cortex®-A72 cores, optimized memory architecture, and a heterogeneous design, it delivers unparalleled efficiency while lowering system costs. This platform supports diverse imaging solutions, including Level 2 and Level 2+ ADAS, auto valet parking, 3D surround view, and more making it a versatile and cost-effective choice for next-generation automotive applications.

Paired with the TI TDA4VPE-Q1 SoC, the SVNet 3D Perception Network solution converts 2D camera data into precise 3D environmental maps, enabling vehicles to perceive their surroundings with exceptional clarity. Designed for adaptability, the SVNet platform supports high-level autonomous driving across various Operational Design Domains (ODD), including complex and challenging conditions.

Showcasing Innovation at CES 2025

At CES 2025, attendees can witness a live demonstration of the SVNet based on TDA4VPE-Q1 automotive SoC. The demo highlights its capabilities in enabling multi-camera inputs for advanced driver assistance systems (ADAS), such as Level 2+ highway driving, auto valet parking, 3D surround view, and memory-based automatic parking.

A Game-Changer for Automotive Applications

STRADVISION’s SVNet, integrated with the TDA4V-Mid Plus Eco SoC, empowers automotive OEMs to deliver scalable ADAS solutions. The SoC’s flexibility accommodates various image sensors and resolutions, supporting ADAS domain controllers, front cameras, surround views, and mirror replacement. This collaboration paves the way for innovation in automotive, robotics, and security systems.

“We are proud to collaborate with Texas Instruments to bring cost-effective yet powerful solutions to the automotive industry,” said Philip Vidal, CBO of STRADVISION. “The TDA4VPE-Q1 automotive SoC, paired with STRADVISION’s SVNet, exemplifies our shared vision for advancing ADAS technologies. With production-ready software development concluding in 2025 and a Start of Production (SoP) targeted for 2026, we are poised to meet the demands of an evolving market. This collaboration also underscores our commitment to global expansion, enabling us to address the rising demand for innovative and scalable solutions worldwide.”

“The TDA4VPE-Q1 automotive system-on-a-chip for L2 domain controllers with graphics, AI, and video co-processing embodies our vision of delivering high-performance, flexible, and efficient solutions for next-generation automotive applications,” said Mike Pienovi, product line manager at Texas Instruments. “Our collaboration with STRADVISION and their SVNet software demonstrates how technology can accelerate the move from 2D to 3D perception networks.”

Event Details: 

Date: January 7–10, 2025 Location: Westgate Hotel Hospitality Suite #2951, Las Vegas, Nevada 

For more information on STRADVISION and its industry-leading technologies, please visit STRADVISION

About STRADVISION 

Founded in 2014, STRADVISION is an automotive industry pioneer in artificial intelligence-based vision perception technology for ADAS. The company is accelerating the advent of fully autonomous vehicles by making ADAS features available at a fraction of the market cost compared with competitors. STRADVISION’s SVNet is being deployed on various vehicle models in partnership with OEMs; can power ADAS and autonomous vehicles worldwide; and is serviced by over 300 employees in Seoul, San Jose, Detroit, Tokyo, Shanghai, and Dusseldorf. STRADVISION has been honored with Frost & Sullivan’s 2022 Global Technology Innovation Leadership Award, the Gold Award at the 2022 and 2021 AutoSens Awards for Best-in-Class Software for Perception Systems, and the 2020 Autonomous Vehicle Technology ACES Award in Autonomy (software category). In addition, STRADVISION and its software have achieved TISAX’s AL3 standard for information security management, as well as being certified to the ISO 9001:2015 for Quality Management Systems and ISO 26262 for Automotive Functional Safety. 

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STRADVISION Showcases Collaboration with Renesas at CES 2025

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Highlighting Next-Generation ADAS Innovation with SVNet Integration on Renesas’ R-Car V4H SoC Platform

LAS VEGAS, Jan. 5, 2025 /PRNewswire/ — STRADVISION, a global leader in AI-based vision perception technology, is excited to announce its collaboration with Renesas Electronics Corporation at CES 2025. This collaboration showcases the integration of STRADVISION’s SVNet software into Renesas’ R-Car Open Access (RoX) development platform, a cutting-edge demonstration of advanced driver assistance systems (ADAS).

As part of this collaboration, STRADVISION will present a groundbreaking demo featuring a 3D perception system powered by an 8MP Front View Camera (FVC) based on the Renesas R-CarV4H platform. This demonstration highlights the exceptional efficiency and low computing power of SVNet, providing an optimized, scalable solution for next-generation Software-Defined Vehicles (SDVs). Additionally, the 3DP FVC ADAS solution is set for production in 2026.

Driving Efficiency and Performance in ADAS

STRADVISION’s SVNet software is celebrated for its high efficiency, enabling advanced perception capabilities even on platforms with constrained computing power. By integrating SVNet with Renesas’ RoX platform supporting R-Car SoCs, the demo delivers a pre-validated, high-performance ADAS solution that caters to the growing demand for affordable, reliable, and scalable technologies in the automotive industry.

“This collaboration underscores STRADVISION’s commitment to pioneering AI-based solutions that meet the evolving needs of the automotive market,” said Philip Vidal, Chief Business Officer at STRADVISION. “By working closely with Renesas, we are delivering innovative technologies that redefine safety, efficiency, and performance for automotive manufacturers worldwide.”

A Strategic Partnership for the Future of SDVs

STRADVISION has a longstanding history of collaboration with Renesas, with previous integrations including the SVNet software on Renesas’ R-Car V3x platform. During the week of CES 2025, STRADVISION plans to demonstrate a cohesive solution designed for SDVs that bridges the gap between ADAS and IVI functionalities. This innovation is poised to catalyze broader adoption of advanced safety features and autonomous driving technologies across diverse vehicle segments.

Visit STRADVISION at CES 2025

Attendees at CES 2025 are invited to experience this breakthrough technology firsthand at STRADVISION’s booth. The demo highlights STRADVISION’s strategic role in shaping the future of mobility by providing intelligent, efficient, and scalable solutions that empower Tier-1 suppliers and car OEMs to innovate rapidly and cost-effectively.

Event Details:

Date: January 7–10, 2025Location: Westgate Hotel Hospitality Suite #2951, Las Vegas, Nevada

For more information on STRADVISION and its industry-leading technologies, please visit STRADVISION.

About STRADVISION 

Founded in 2014, STRADVISION is an automotive industry pioneer in artificial intelligence-based vision perception technology for ADAS. The company is accelerating the advent of fully autonomous vehicles by making ADAS features available at a fraction of the market cost compared with competitors. STRADVISION’s SVNet is being deployed on various vehicle models in partnership with OEMs; can power ADAS and autonomous vehicles worldwide; and is serviced by over 300 employees in Seoul, San Jose, Detroit, Tokyo, Shanghai, and Dusseldorf. STRADVISION has been honored with Frost & Sullivan’s 2022 Global Technology Innovation Leadership Award, the Gold Award at the 2022 and 2021 AutoSens Awards for Best-in-Class Software for Perception Systems, and the 2020 Autonomous Vehicle Technology ACES Award in Autonomy (software category). In addition, STRADVISION and its software have achieved TISAX’s AL3 standard for information security management, as well as being certified to the ISO 9001:2015 for Quality Management Systems and ISO 26262 for Automotive Functional Safety. 

View original content to download multimedia:https://www.prnewswire.com/news-releases/stradvision-showcases-collaboration-with-renesas-at-ces-2025-302342337.html

SOURCE StradVision

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STRADVISION and AMD Showcase Next-Generation Perception Technology at CES 2025

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First-ever collaboration introduces a robust perception stack for automated drivingSTRADVISION’s 3D Perception SVNet enables deep learning-based embedded perception algorithms using AMD Versal™ AI Edge Series Adaptive SoCSTRADVISION to host AMD Versal SoC-powered demos during CES® 2025 in Las Vegas

LAS VEGAS, Jan. 5, 2025 /PRNewswire/ — STRADVISION, a trailblazer in AI-based vision perception technology, proudly announces a collaboration with AMD for the first time to combine STRADVISION’s cutting-edge 3D Perception SVNet with advanced processing technology from AMD to deliver high-performance perception solutions for automated driving systems.

At CES® 2025, STRADVISION will unveil a joint technology demonstration with AMD that features STRADVISION’s 3D Perception SVNet, powered by the AMD Versal™ AI Edge Series adaptive SoC, utilizing an 8MP front-facing camera. This showcase underscores STRADVISION’s commitment to enhancing ADAS (Advanced Driver Assistance Systems) and autonomous driving technologies with cutting-edge adaptive computing hardware from AMD.

AMD Versal™ AI Edge Series delivers high performance, low latency AI inference for intelligence in automated driving and other demanded AI-driven embedded systems. Designed for sensor fusion and AI algorithm development, the Versal AI Edge series delivers scalable solutions that address diverse performance and power requirements, from edge to endpoint applications.

This collaboration combines AMD adaptive computing hardware with STRADVISION’s industry-leading perception software, offering a comprehensive perception stack tailored for real-world driving conditions and delivering reliable, scalable solutions to automotive manufacturers worldwide.

“Our work with AMD represents a pivotal moment for STRADVISION,” said Philip Vidal, CBO of STRADVISION. “Combining cutting-edge real-time processing technology from AMD with our advanced 3D perception network, ‘SVNet’ enables us to redefine industry standards for performance, reliability, and scalability in automated driving systems.”

“STRADVISION is helping accelerate autonomous vehicles by increasing the access to ADAS technologies by reducing its cost without compromising its capability,” said Wayne Lyons, Senior Director of Marketing, Automotive Segment, AMD. “Together, we’re addressing the growing demand for scalable, high-performance solutions that enhance the safety and functionality of automated driving systems.”

By joining forces, STRADVISION and AMD are poised to address the needs of the evolving mobility landscape, providing a robust, scalable perception stack optimized for ADAS and autonomous driving systems. This relationship reflects both companies’ dedication to shaping the future of automated driving.

For more information on STRADVISION and its industry-leading technologies, please visit STRADVISION.

CES 2025 Demo Details

Attendees of CES 2025 can experience the 3D Perception SVNet demonstration at both STRADVISION’s booth and AMD automotive demo space. This showcase highlights the seamless integration of STRADVISION’s AI-powered vision technology with AMD processors, providing a glimpse into the future of automated driving.

Dates: January 7–10, 2025Locations: STRADVISION booth at Westgate Hotel Hospitality Suite #2951, Las Vegas, and AMD auto demos at the LVCC, West Hall, Room W223

About STRADVISION 

Founded in 2014, STRADVISION is an automotive industry pioneer in artificial intelligence-based vision perception technology for ADAS. The company is accelerating the advent of fully autonomous vehicles by making ADAS features available at a fraction of the market cost compared with competitors. STRADVISION’s SVNet is being deployed on various vehicle models in partnership with OEMs; can power ADAS and autonomous vehicles worldwide; and is serviced by over 300 employees in Seoul, San Jose, Detroit, Tokyo, Shanghai, and Dusseldorf. STRADVISION has been honored with Frost & Sullivan’s 2022 Global Technology Innovation Leadership Award, the Gold Award at the 2022 and 2021 AutoSens Awards for Best-in-Class Software for Perception Systems, and the 2020 Autonomous Vehicle Technology ACES Award in Autonomy (software category). In addition, STRADVISION and its software have achieved TISAX’s AL3 standard for information security management, as well as being certified to the ISO 9001:2015 for Quality Management Systems and ISO 26262 for Automotive Functional Safety. 

AMD, the AMD Arrow logo, Versal, and combinations thereof are trademarks of Advanced Micro Devices, Inc.

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SOURCE StradVision

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