Shengfeng Development CEO Purchases 500,000 Class A Ordinary Shares in the Open Market | PR Newswire [Video]

, /PRNewswire/ — Shengfeng Development Limited (“Shengfeng” or the “Company”) (NASDAQ: SFWL), a contract logistics company in China providing customers with integrated logistics solutions, today announced that Mr. Yongxu Liu, the Company’s Chairman, Chief Executive Officer and the largest beneficial shareholder of the Company, has purchased 500,000 Class A ordinary shares of the Company in the open market at an average price of $1.289 per share (the “Shares”).

The purchases of Shares were made on October 14, 2024 and October 15, 2024.

“With our current position in China’s logistics market, I’m confident in the Company’s prospects, especially with the opportunities that we anticipate will emerge from the new energy sector,” said Mr. Liu.  “Additionally, I’m optimistic about our strategic expansion into cold chain logistics and cross-border logistics is expected to contribute to our future growth.”

About Shengfeng Development Limited

Shengfeng Development Limited is a contract logistics company in Chinaproviding customers with integrated logistics solution …