Addentax Group Corp
addentax.comAddentax Group Corp (NASDAQ: ATXG) is a China-based holding company that operates three businesses: garment manufacturing, logistics services, and property management and subleasing. Revenue comes from garment production contracts, fees charged for storage, transportation, warehousing, handling, packaging, and order processing, and rental and management fees collected from tenants. All three segments operate in Guangdong province and broader PRC markets. Total revenue was $4.18M for the fiscal year ended March 31, 2025, down 18.9% from $5.15M in the prior fiscal year. Gross margin contracted to 15.2% in FY2025 from 21.6% in FY2024. The company reported a loss from operations of $1.82M in FY2025. As of March 31, 2025, the logistics network covered 45 cities across 10 provinces and 2 municipalities in the PRC, with 114 logistics points and nine delivery routes.
Products & Services
Garment manufacturing with in-house quality control and design team (3 members as of March 31, 2025, 20 production employees as of March 31, 2025). Logistics services including storage, transportation, warehousing, handling, packaging, order processing, customs declaration, and tax clearance. Property management and subleasing operated through Dongguan Hongxiang Commercial Co., Ltd. (HX) in Guangdong province.
Revenue Model
Three transactional revenue streams: (1) garment manufacturing, billed on delivery with payment terms of 30 to 180 days for established customers; (2) logistics services fees billed 30 to 90 days after package receipt registration; (3) property management and subleasing rental and management fees collected one month in advance.
Customers & Markets
Garment customers include new buyers requiring deposits and established buyers on 30-to-180-day payment terms. Logistics customers include businesses shipping goods within the PRC and exporters requiring customs and tax clearance. Property management tenants include smaller, growth-oriented businesses in the garment industry, as disclosed in the FY2025 10-K.
Geographic Exposure
All operations are in the PRC. Logistics network covers 45 cities in 10 provinces and 2 municipalities as of the FY2025 10-K filing. Garment manufacturing and property management are based in Guangdong province.
Peers: BEST Inc.
Source: SEC 10-K, filed 2025-06-30
Financial Snapshot
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