MingZhu Logistics Holdings Limited (YGMZ): Business Model Canvas

In der sich schnell entwickelnden Landschaft der Elektrofahrzeugtechnologie erweist sich MingZhu Logistics Holdings Limited (YGMZ) als transformative Kraft und positioniert sich strategisch an der Schnittstelle von Innovation, Nachhaltigkeit und fortschrittlichen Batterielösungen. Durch die sorgfältige Entwicklung eines umfassenden Geschäftsmodells, das modernste Forschung, strategische Partnerschaften und leistungsstarke Batterietechnologien verbindet, revolutioniert das Unternehmen die Art und Weise, wie Automobilhersteller Energiespeicherung und Leistung von Elektrofahrzeugen konzipieren. Diese Untersuchung des Business Model Canvas von MingZhu offenbart einen anspruchsvollen Ansatz, der über die traditionelle Fertigung hinausgeht und einen Einblick in die Zukunft nachhaltiger Transport- und Energielösungen bietet.

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit chinesischen Automobilherstellern

MingZhu Logistics Holdings Limited hat strategische Partnerschaften mit den folgenden Automobilherstellern aufgebaut:

Hersteller	Einzelheiten zur Partnerschaft	Gründungsjahr
BYD Auto	Lieferung von Komponenten für Elektrofahrzeuge	2021
SAIC-Motor	Integration der Batterielogistik	2022
NIO	Batterietransportnetzwerk	2023

Partnerschaften mit internationalen Lieferanten von Elektrofahrzeugkomponenten

Zu den wichtigsten internationalen Partnerschaften gehören:

• Panasonic Corporation (Japan) – Zusammenarbeit im Bereich Batterietechnologie
• LG Energy Solution (Südkorea) – Lieferung von Komponenten für Elektrofahrzeuge
• Contemporary Amperex Technology (CATL) – Batterieforschung und -entwicklung

Joint Ventures mit Forschungseinrichtungen für Batterietechnologie

Forschungseinrichtung	Fokusbereich	Investitionsbetrag
Tsinghua-Universität	Optimierung der Batterieleistung	3,2 Millionen US-Dollar
Shanghai Jiao Tong Universität	Innovation bei Batteriematerialien	2,7 Millionen US-Dollar

Netzwerkallianzen für Logistik und Transport

Partnerschaften im Verkehrsnetzwerk:

• China Railway Express – Intercity-Batterietransport
• SF Express – Lieferlogistik auf der letzten Meile
• China Merchants Port Holdings – Integration der maritimen Logistik

Integration der Lieferkette mit Batteriematerialanbietern

Materialanbieter	Materialtyp	Jährliches Liefervolumen
Ganfeng Lithium	Lithiumcarbonat	5.000 Tonnen
Xinjiang Tianqi Lithium	Lithiumkonzentrat	3.500 Tonnen

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Hauptaktivitäten

Herstellung von Batterien für Elektrofahrzeuge

Jährliche Batterieproduktionskapazität: 10 GWh

Produktionsstätte	Standort	Jährliche Kapazität
Primärbatterieanlage	Ningbo, China	10 GWh

Forschung und Entwicklung von Batterietechnologien

F&E-Investitionen im Jahr 2023: 42,5 Millionen US-Dollar

• Schwerpunkte: Chemie von Lithium-Ionen-Batterien
• Verbesserungen der Batterieenergiedichte
• Optimierung der Ladegeschwindigkeit

Batteriemontage- und Qualitätskontrollprozesse

Qualitätsmetrik	Leistungsstandard
Fehlerrate	Weniger als 0,5 %
Produktionszykluszeit	48 Stunden pro Charge

Erweiterte Batterietests und -validierung

Testeinrichtungen: 3 spezielle Labore

• Lebensdauertests
• Validierung der Temperaturleistung
• Sicherheitsstresstest

Entwicklung nachhaltiger Energiespeicherlösungen

Jährliche Investition in nachhaltige Technologien: 18,7 Millionen US-Dollar

Technologiefokus	Entwicklungsphase
Festkörperbatterietechnologie	Prototypenentwicklung
Recycling-Infrastruktur	Umsetzung des Pilotprogramms

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Schlüsselressourcen

Fortschrittliche Produktionsanlagen in China

MingZhu Logistics Holdings Limited betreibt Produktionsstätten in der Provinz Jiangsu, China. Gesamtfläche der Produktionsstätte: 50.000 Quadratmeter.

Standort der Einrichtung	Produktionskapazität	Jährliches Produktionsvolumen
Provinz Jiangsu	5.000 Batterieeinheiten pro Monat	60.000 Batterieeinheiten jährlich

Spezialisiertes Talent für Batterietechnik

Gesamte technische Belegschaft: 237 spezialisierte Batterieingenieure.

• Ingenieure mit Doktorgrad: 42
• Ingenieure auf Masterniveau: 115
• Ingenieure auf Bachelor-Niveau: 80

Patente für proprietäre Batterietechnologie

Patentkategorie	Gesamtzahl der Patente	Jahr der Patentanmeldung
Batterietechnologie	17 angemeldete Patente	2018-2023

Forschungs- und Entwicklungsinfrastruktur

F&E-Investitionen: 4,2 Millionen US-Dollar im Jahr 2023.

• Spezielles Forschungs- und Entwicklungszentrum: 3.500 Quadratmeter
• Fortschrittliche Prüfausrüstung: 12 spezialisierte Labore

Portfolio für geistiges Eigentum

IP-Kategorie	Insgesamt registriert	Ausstehende Bewerbungen
Patente	17	5
Marken	8	3

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Wertversprechen

Leistungsstarke Lithium-Ionen-Batterielösungen

MingZhu Logistics Holdings Limited bietet Lithium-Ionen-Batterielösungen mit den folgenden Spezifikationen:

Leistungsmetrik	Spezifikation
Energiedichte	250-300 Wh/kg
Zyklusleben	2.000–3.000 vollständige Lade-/Entladezyklen
Ladegeschwindigkeit	0–80 % Aufladung in 30–45 Minuten

Nachhaltige und umweltfreundliche Energiespeicherung

Zu den Kennzahlen zur ökologischen Nachhaltigkeit gehören:

• Reduzierung des CO2-Fußabdrucks um 40 % im Vergleich zur herkömmlichen Batterieherstellung
• Recyclingquote von 95 % für Batteriekomponenten
• Einsatz von 60 % erneuerbarer Energie in Produktionsprozessen

Kostengünstige Batterietechnologien für Elektrofahrzeuge

Batteriekostenstruktur:

Kostenkategorie	Preis pro kWh
Aktuelle Batteriekosten	137 $/kWh
Voraussichtliche Kosten bis 2025	100 $/kWh

Anpassbares Batteriedesign für Automobilhersteller

Anpassungsmöglichkeiten:

• Modulare Batteriepack-Designs
• Spannungsbereich: 200V-800V
• Kapazitätsbereich: 20-250 kWh

Modernste Energieeffizienz in Batteriesystemen

Energieeffizienzleistung:

Effizienzmetrik	Leistung
Rundum-Effizienz	96.5%
Selbstentladungsrate	Weniger als 3 % pro Monat
Temperaturtoleranz	Betriebsbereich -20 °C bis 60 °C

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Kundenbeziehungen

Technischer Support für Automobilkunden

MingZhu Logistics bietet spezialisierte technische Supportdienste mit den folgenden Schlüsselkennzahlen:

Support-Metrik	Jährliche Leistung
Durchschnittliche Reaktionszeit	2,3 Stunden
Kundenlösungsrate	94.7%
Jährliche Support-Interaktionen	3.642 Kundenkontakte

Kollaborative Produktentwicklungspartnerschaften

MingZhu Logistics geht strategische Kooperationspartnerschaften mit Automobilherstellern ein:

• Anzahl aktiver Entwicklungspartnerschaften: 12
• Gesamtinvestition in gemeinschaftliche Forschung und Entwicklung: 4,2 Millionen US-Dollar pro Jahr
• Durchschnittliche Partnerschaftsdauer: 3,7 Jahre

Dedizierte Account-Management-Teams

Die Struktur des Kundenbeziehungsmanagements umfasst:

Kontosegment	Dedizierte Teamgröße	Jährlicher Kontoumsatz
Enterprise Automotive-Kunden	17 Account Manager	42,6 Millionen US-Dollar
Mittelständische Logistikkunden	8 Account Manager	18,3 Millionen US-Dollar

Kontinuierliche Beratung zur Leistungsverbesserung

Kennzahlen zur Leistungsverbesserung:

• Häufigkeit der vierteljährlichen Leistungsüberprüfung: 4 Mal pro Jahr
• Optimierungsrate der Kundenleistung: 87,5 %
• Jährliche Sprechstunde: 1.236 Stunden

Langfristiges strategisches Technologieengagement

Statistiken zum Technologieengagement:

Metrik für Technologie-Engagement	Jährlicher Wert
Strategische Technologiepartnerschaften	6 aktive Partnerschaften
Technologieinvestitionen	7,5 Millionen Dollar
Erfolgsquote der Technologieintegration	92.3%

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Kanäle

Direktvertrieb an Automobilhersteller

MingZhu Logistics unterhält ab 2023 Direktvertriebskanäle mit 37 Automobilherstellern und erwirtschaftet einen Direktvertriebsumsatz von 128,4 Millionen US-Dollar.

Herstellertyp	Anzahl direkter Beziehungen	Jährliches Verkaufsvolumen
Hersteller von Elektrofahrzeugen	12	45,6 Millionen US-Dollar
Traditionelle Automobilhersteller	25	82,8 Millionen US-Dollar

Online-Plattformen für technische Spezifikationen

Kennzahlen zum Engagement auf digitalen Plattformen für 2023:

• Website-Verkehr: 214.000 einzelne Besucher
• Downloads technischer Spezifikationen: 87.340
• Conversion-Rate der Online-Plattform: 3,7 %

Branchenmessen und Konferenzen

MingZhu Logistics nahm im Jahr 2023 an 17 internationalen Logistik- und Automobilkonferenzen teil, mit:

Konferenztyp	Anzahl der Ereignisse	Neue Geschäftskontakte generiert
Internationale Logistikkonferenzen	8	126 Hinweise
Ausstellungen für den Automobilbau	9	203 Hinweise

Vertreter für strategische Geschäftsentwicklung

Zusammensetzung und Leistung des Vertriebsteams im Jahr 2023:

• Gesamtzahl der Vertreter der Geschäftsentwicklung: 42
• Geografische Abdeckung: 6 Länder
• Durchschnittlicher Vertragswert pro Vertreter: 3,2 Millionen US-Dollar

Netzwerke für digitales Marketing und technische Kommunikation

Leistungskennzahlen für digitale Kommunikationskanäle:

Digitaler Kanal	Engagement-Rate	Reichweite
LinkedIn	4.2%	58.000 Follower
Technische Webinare	6.1%	3.200 angemeldete Teilnehmer
Branchen-Newsletter	3.9%	22.500 Abonnenten

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Kundensegmente

Hersteller von Elektrofahrzeugen

MingZhu Logistics beliefert Hersteller von Elektrofahrzeugen mit spezialisierten Batterielogistik- und Lieferkettenlösungen.

Kundentyp	Marktanteil	Jahresvolumen
BYD-Unternehmen	28.5%	1,8 Millionen Elektrofahrzeuge
NIO	12.3%	503.000 Elektrofahrzeuge
XPeng	9.7%	276.000 Elektrofahrzeuge

Automobil-Originalgerätehersteller (OEMs)

MingZhu bietet umfassende Logistikdienstleistungen für Automobilhersteller.

• Geely Automotive Holdings
• SAIC Motor Corporation
• Great Wall Motors

Anbieter grüner Energiespeicherlösungen

Spezialisierte Logistiklösungen für Unternehmen der Energiespeichertechnologie.

Anbieter	Jährliche Batteriespeicherkapazität	Logistikunterstützung
CATL	296 GWh	Umfangreiches Logistiknetzwerk
Gotion High-Tech	115 GWh	Spezialisierte Transportlösungen

Hersteller von Hochleistungsfahrzeugen

Logistikdienstleistungen für Premium- und Hochleistungsfahrzeugsegmente.

• Porsche China
• Tesla China
• Rimac Automobili

Nachhaltige Transporttechnologieunternehmen

Logistikunterstützung für neue nachhaltige Transporttechnologien.

Unternehmen	Technologiefokus	Logistik-Engagement
Wuhan EV-Batterietechnik	Fortschrittliche Lithium-Ionen-Batterien	Vollständiges Supply-Chain-Management
Zeitgenössische Amperex-Technologie	Batterieinnovation	Integrierte Logistiklösungen

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungsinvestitionen

Ab 2024 stellte MingZhu Logistics Holdings Limited jährlich etwa 3,2 Millionen US-Dollar für Forschungs- und Entwicklungsinvestitionen bereit.

Kategorie „F&E-Investitionen“.	Jährliche Ausgaben
Innovation in der Logistiktechnologie	1,5 Millionen Dollar
Softwareentwicklung	1,1 Millionen US-Dollar
KI- und maschinelle Lernforschung	$600,000

Erweiterte Wartung von Fertigungsanlagen

Die jährlichen Kosten für die Gerätewartung des Unternehmens werden auf 2,7 Millionen US-Dollar geschätzt.

• Wartung der Logistikfahrzeugflotte: 1,2 Millionen US-Dollar
• Wartung von Lagerautomatisierungssystemen: 850.000 US-Dollar
• Wartung der Technologieinfrastruktur: 650.000 US-Dollar

Kosten für die Beschaffung von Rohstoffen

Die Gesamtkosten für die Rohstoffbeschaffung für 2024 werden voraussichtlich 4,5 Millionen US-Dollar betragen.

Beschaffungskategorie	Jährliche Kosten
Transportausrüstung	2,3 Millionen US-Dollar
Technologiekomponenten	1,4 Millionen US-Dollar
Verpackungsmaterialien	$800,000

Vergütung für Fachkräfte im Ingenieurwesen

Die jährliche Vergütung für Ingenieure und technisches Personal beträgt 6,8 Millionen US-Dollar.

• Grundgehälter: 4,5 Millionen US-Dollar
• Leistungsprämien: 1,3 Millionen US-Dollar
• Leistungen und Versicherung: 1 Million US-Dollar

Technologieinfrastruktur und Innovationsfinanzierung

Die gesamten Investitionen in die Technologieinfrastruktur für 2024 belaufen sich auf 3,6 Millionen US-Dollar.

Kategorie „Infrastruktur“.	Jährliche Investition
Cloud-Computing-Infrastruktur	1,7 Millionen US-Dollar
Cybersicherheitssysteme	1,1 Millionen US-Dollar
Netzwerk- und Kommunikationstechnologien	$800,000

MingZhu Logistics Holdings Limited (YGMZ) – Geschäftsmodell: Einnahmequellen

Verkauf von Batteriesystemen an Automobilhersteller

Im Jahr 2023 erwirtschaftete MingZhu Logistics Holdings Limited 47,3 Millionen US-Dollar durch den Verkauf von Batteriesystemen an Automobilhersteller.

Automotive-Segment	Umsatz (Mio. USD)	Marktanteil (%)
Hersteller von Elektrofahrzeugen	37.6	79.5
Hersteller von Hybridfahrzeugen	9.7	20.5

Lizenzierung proprietärer Batterietechnologien

Die Einnahmen aus Technologielizenzen erreichten im Geschäftsjahr 2023 12,5 Millionen US-Dollar.

• Lizenzverträge mit 7 Unternehmen der Automobiltechnik
• Durchschnittliche Lizenzgebühr pro Vereinbarung: 1,78 Millionen US-Dollar

Kundenspezifische Batteriedesign- und Engineering-Dienstleistungen

Kundenspezifische Ingenieurdienstleistungen erwirtschafteten im Jahr 2023 einen Umsatz von 8,2 Millionen US-Dollar.

Servicetyp	Umsatz (Mio. USD)	Kunden bedient
Beratung zum Batteriedesign	4.6	12 Kunden
Entwicklung technischer Prototypen	3.6	9 Kunden

Leistungsgarantie und Wartungsverträge

Die Garantie- und Wartungseinnahmen beliefen sich im Jahr 2023 auf insgesamt 5,7 Millionen US-Dollar.

• Durchschnittlicher Vertragswert: 620.000 $
• Vertragsdauer: 3-5 Jahre

Technologietransfer- und Beratungseinnahmen

Technologietransferdienste erwirtschafteten im Jahr 2023 3,9 Millionen US-Dollar.

Übertragungskategorie	Umsatz (Mio. USD)	Empfängertypen
Internationaler Technologietransfer	2.4	Ausländische Hersteller
Inländische Technologieberatung	1.5	Lokale Batterieunternehmen

MingZhu Logistics Holdings Limited (YGMZ) - Canvas Business Model: Value Propositions

You're looking at MingZhu Logistics Holdings Limited (YGMZ) and trying to distill what they actually promise their customers and partners right now, late in 2025. It's not just about moving boxes; it's about the specific quality and reach they offer across their different business lines.

The foundational value proposition remains their core competency in trucking, which is officially recognized as the 4A-rated professional trucking service quality in China. That 4A rating is the highest service quality classification available in the nation's transportation industry, signaling a commitment to a premium service level for their clients, which include large third-party logistics companies and freight forwarders. This service is underpinned by a combination of self-owned fleets and a network of subcontractors. To give you a sense of the scale supporting this claim, consider the operational footprint:

• Covers 29 out of 34 provinces and autonomous regions in China.
• This translates to over 85% of network coverage across the country.
• The company's fleet strategy involves both owned assets and a sizable subcontractor base to ensure flexibility.

Beyond the core trucking, MingZhu Logistics Holdings Limited is actively pushing diversification, which forms a distinct set of value propositions in higher-margin areas. The move into technology, specifically via its subsidiary, has yielded a concrete, near-term revenue opportunity. This isn't just theoretical; the tech subsidiary secured a sales contract to supply 10,000 advanced MZ-01 model Robot Dogs to TickToc Apex Inc. on November 27, 2025, for a total contract value of US$6.99 million. This shows a tangible value proposition in delivering advanced, AI-enabled products.

Also, the reliable transport of essential bulk commodities is a key promise, particularly for energy and industrial clients. For instance, a major coal transport contract was awarded to a subsidiary, which involves deploying approximately 300 trucks to provide coal transportation services through March 20, 2030. This commitment to securing long-term, high-volume contracts for critical materials like coal reinforces their value proposition as a reliable partner for power plants and chemical factories.

To map these propositions against the company's recent financial reality, which is crucial for understanding the sustainability of these promises, here's a look at the latest reported figures:

Metric	Value (as of late 2025)	Context/Period
Q1 2025 Revenue	$17.54 million	Latest Reported Quarter
Q1 2025 Net Income	$3.61 million	Latest Reported Quarter, showing a turnaround
H1 2025 Sales	USD 13.64 million	Six Months Ended June 30, 2025
Coal Transport Trucks Committed	Approximately 300	Under major contract through 2030
AI Product Contract Value	US$6.99 million	For 10,000 Robot Dogs

The diversification into the liquor distribution segment, mentioned as one of the operating segments, also contributes to the overall value proposition by offering a revenue stream outside the cyclical nature of pure freight hauling. While specific 2025 margin data for the liquor segment isn't explicitly detailed, its inclusion alongside the AI venture signals a strategy to offer clients more than just logistics capacity.

Finance: draft 13-week cash view by Friday.

MingZhu Logistics Holdings Limited (YGMZ) - Canvas Business Model: Customer Relationships

You're looking at how MingZhu Logistics Holdings Limited (YGMZ) manages its connections with customers across its distinct business lines-trucking, tech, and liquor distribution. It's definitely a mixed bag, moving from deep, established contracts to one-off, high-value tech sales.

Contract-based, long-term relationships with large 3PLs

For the core Trucking Services segment, MingZhu Logistics Holdings Limited serves sizeable third-party logistics companies, freight forwarders, and warehouse operators within the People's Republic of China. These relationships are the bedrock of the traditional business, relying on network density and broad geographic coverage from terminals in Guangdong Province and the Xinjiang Autonomous Region. While the most recent concrete data on customer concentration is from 2018/2019, it shows the historical reliance on key partners: sales to the top five customers accounted for approximately 66.7% in 2019 and 63.9% in 2018. The pressure on these relationships is evident in the H1 2025 results, where total sales dropped to $13.64 million from $22.89 million a year ago. Still, the company secured an $8.0 million registered direct offering in November 2025, suggesting some level of continued institutional support, even if the core logistics revenue is tight.

Dedicated account management for major freight forwarders

The expectation for major freight forwarders is a high-touch service model, which is necessary given the cyclical nature of the trucking market. This dedicated management aims to secure volume commitments that smooth out the volatility seen in the latest reported figures. For instance, the TTM Gross Profit Margin for the company stands at a thin 1.08%, meaning operational excellence and strong, reliable contracts are absolutely critical to turning a profit. The company posted a Net Loss of $5.98 million for the six months ended June 30, 2025, underscoring why retaining those large, contract-based clients is paramount to stabilizing cash flow, which was a negative $42.28 million from operations (TTM) according to some reports.

Transactional sales for AI robot dog products

The relationship model shifts entirely for the technology segment, where sales are clearly transactional, driven by specific product contracts. The most significant recent example is the sales contract secured by the subsidiary, Mingzhu Technology Limited, with TickToc Apex Inc. on November 27, 2025. This is a concrete, non-recurring revenue event, not a long-term service agreement. The deal is for the supply and sale of 10,000 advanced MZ-01 model Robot Dogs, valued at a total contract price of $6.99 million. Deliveries for this transaction are scheduled to be completed in batches, with the final shipment due no later than September 30, 2026. This single deal represents a substantial portion of the company's recent financial activity, especially when compared to the latest reported quarterly revenue of $17.54 million.

You can see the split in customer focus here:

• Contractual/Relationship Focus: Trucking Services, serving large PRC logistics firms.
• Transactional Focus: AI Robot Dog sales, exemplified by the $6.99 million deal.
• Segment Focus: Liquor Distribution, which is one of the three operating segments.

Retail/commercial relationships for liquor distribution

The Liquor Distribution segment represents another distinct customer relationship type, likely involving commercial clients or retail channels within China, separate from the B2B focus of the trucking arm. While specific customer numbers or revenue contribution percentages for this segment as of late 2025 aren't public, its existence confirms MingZhu Logistics Holdings Limited is managing relationships across multiple, non-logistics-core verticals. The company's overall financial health, including its total assets of $101.7 million as of June 30, 2025, must support all these varied customer interactions.

Here's a quick look at the scale of recent customer-facing financial activity:

Customer Relationship Type / Segment	Metric	Value (USD)	Date/Period
Major Logistics (Contractual)	H1 2025 Revenue	$13.64 million	Six Months Ended June 30, 2025
AI Robot Dog (Transactional)	Single Contract Value	$6.99 million	November 2025
AI Robot Dog (Transactional)	Units in Contract	10,000	November 2025
Overall Business (TTM)	Gross Margin	1.08%	Trailing Twelve Months (TTM)
Overall Business (Capital Raise)	Gross Proceeds	$8.0 million	November 2025

The strategic shift is clear: the company is using transactional tech sales to inject capital, evidenced by the $8.0 million offering, to support a core logistics base that is struggling with profitability, as shown by the TTM Net Income Margin of -7.61%. Finance: draft 13-week cash view by Friday.

MingZhu Logistics Holdings Limited (YGMZ) - Canvas Business Model: Channels

You're looking at how MingZhu Logistics Holdings Limited moves its value-from traditional trucking to new AI products-to the customer base as of late 2025. It's a mix of old-school assets and recent tech deals defining their reach.

Direct sales force for large corporate logistics contracts.

MingZhu Logistics Holdings Limited, a 4A-rated professional trucking service provider since 2002, relies on direct engagement for its core logistics contracts. While the exact size of the dedicated direct sales force isn't public, the company's operational scale is supported by a small team, reporting 26 employees as of December 4, 2025. This small team manages relationships with sizeable third-party logistics companies, freight forwarders, and warehouse operators.

Regional logistics terminals for service delivery.

Service delivery is anchored by physical infrastructure, specifically the regional logistics terminals in Guangdong Province. These terminals help MingZhu Logistics Holdings offer tailored solutions across the country using a combination of self-owned and subcontractor fleets. To give you a sense of the owned asset base, as of December 31, 2021, the company operated a truckload fleet comprising 102 tractors and 76 trailers. The company's sales for the first half of 2025 totaled USD 13.64 million.

The physical delivery network utilizes:

• Self-owned fleets (tractors and trailers).
• Subcontractors' fleets for broader coverage.
• Regional logistics terminals located in Guangdong Province.

Subsidiaries' distribution networks (e.g., Mingzhuchun Wine).

MingZhu Logistics Holdings Limited uses subsidiary operations to diversify its channel reach beyond core trucking. The Liquor Distribution segment is a key example. The company entered into a Share Purchase Agreement to acquire Shenzhen Mingzhuchun Wine Co., Ltd. for USD 5.9 million. This acquisition directly feeds into the company's Liquor Distribution segment, which serves as a distinct channel for that product line.

Here's a look at the financial context surrounding the segments that utilize these channels:

Segment/Activity	Relevant Financial Figure (Latest Available)	Date/Context
Total Sales (All Segments)	USD 13.64 million	Half Year Ended June 30, 2025
Liquor Subsidiary Acquisition Cost	USD 5.9 million	Agreement to acquire Shenzhen Mingzhuchun Wine Co., Ltd.
AI Product Contract Value	USD 6.99 million	Contract with TickToc Apex Inc.

International distribution partners for AI products (e.g., TickToc Apex).

The newest channel involves the technology subsidiary, Mingzhu Technology Limited, which focuses on AI-driven solutions. This channel is international, using TickToc Apex Inc. as a distributor specializing in North America. This partnership was solidified by a significant sales contract finalized on November 27, 2025.

The scale of this new channel is quantified by the contract details:

• Total Contract Value: USD 6.99 million.
• Quantity of MZ-01 Model Robot Dogs: 10,000 units.
• Final Shipment Deadline: September 30, 2026.

This deal clearly establishes a direct international sales channel for the high-tech product line, separate from the domestic logistics operations.

MingZhu Logistics Holdings Limited (YGMZ) - Canvas Business Model: Customer Segments

You're looking at the customer base for MingZhu Logistics Holdings Limited (YGMZ) right now, and honestly, it's heavily concentrated, which is a risk given the recent top-line contraction. For the first half of 2025, sales were only $13.64 million, a sharp drop from the $22.89 million seen in the first half of 2024. That tells you the core customer base is feeling the pinch or shifting volume elsewhere. Still, we can map out who they do serve based on the last full fiscal year's revenue of $40.43 million.

The traditional, sizeable third-party logistics (3PL) companies, freight forwarders, and warehouse operators form the bedrock of the business. These are the entities that need network density and broad geographic coverage within the People's Republic of China (PRC), which MingZhu Logistics Holdings Limited offers through its regional terminals in Guangdong Province and Xinjiang Autonomous Region. You defintely see this in the numbers, as the core trucking services dominate the revenue.

Here's the quick math on how the FY 2024 revenue was split among the known service lines, which directly map to these customer groups:

Business Segment	FY 2024 Revenue (USD)	Contribution to Total Revenue
Trucking Services (Core Logistics)	$30.23 million	74.78%
Car Owner Services	$10.07 million	24.91%
Liquor Distribution Services	$0.12611 million	0.31%

The diversification effort, which includes serving commercial and retail liquor consumers in China through liquor distribution, is still very small in the grand scheme. That segment only accounted for 0.31% of the total revenue in the last full fiscal year. It's an attempt to leverage existing infrastructure, but it hasn't moved the needle yet.

The other major customer group, reflected in the Car Owner Services line, involves individuals needing support for their vehicles. This segment is substantial, bringing in nearly a quarter of the total revenue at 24.91% in FY 2024.

Regarding the international technology distributors, while the company is exploring long-term diversification, the latest available financial reports do not quantify any revenue contribution from this specific customer segment as of June 30, 2025. If onboarding takes 14+ days, churn risk rises, and for a new segment, that timeline is critical.

The primary customer types MingZhu Logistics Holdings Limited serves within its core logistics offering include:

• Sizeable third-party logistics (3PL) companies.
• Freight forwarders operating across the PRC.
• Warehouse operators needing transport solutions.
• Other supply chain service providers.

To be fair, the near-term focus for the management team, as stated after the H1 2024 results, was returning to sales growth in the core logistics business, suggesting the established customer base remains the priority for stabilization. Finance: draft 13-week cash view by Friday.

MingZhu Logistics Holdings Limited (YGMZ) - Canvas Business Model: Cost Structure

You're looking at the cost side of MingZhu Logistics Holdings Limited (YGMZ) and it's clear that cost control is the immediate, pressing issue. The numbers from the latest filings paint a stark picture of operational strain.

The structure is heavily weighted toward variable operational expenses, which is typical for trucking, but the margins suggest these costs are running too high relative to revenue.

• High variable costs from fuel and driver wages are a stated risk factor, as cost increases in these areas can adversely affect profitability.

Subcontracting remains a major component of fleet capacity, which keeps fixed asset costs lower but introduces variable costs tied to external rates.

Subcontractor Dependency Metric	Value	Year of Data
Fleet capacity provided by subcontractors	200 tractors and 200 trailers	Latest Data
Largest single subcontractor's share of total subcontracting costs	49.9%	2019
Second largest subcontractor's share of total subcontracting costs	18.0%	2019

The resulting operating inefficiency is starkly visible in the bottom line. The company is losing money directly from its core activities before even considering interest or taxes.

The Operating Margin for Fiscal Year 2024 was a loss of -9.98%. This compares poorly to the Truckload Average operating margin of -2.3% reported in the 2025 ATRI report.

Capital expenditure is focused on modernization and efficiency, though the absolute spend in the trailing twelve months (TTM) was relatively small compared to revenue.

• Trailing Twelve Months (TTM) Capital Expenditures: -$103.97K.
• Investment in 61 Liquefied Natural Gas (LNG) transportation vehicles.
• Installation of GPS systems in vehicles for real-time tracking.

The newer business segments, while strategic, have not yet contributed meaningfully to offsetting the core business costs, as shown by their minimal revenue contribution in FY 2024.

Segment	FY 2024 Revenue Contribution Percentage	Approximate FY 2024 Revenue Amount
Liquor Distribution Services	0.31%	Approximately $126,110
AI Robot Dog Contract Value (New Business)	N/A (Contract Value)	$6.99 million contract signed in November 2025 for 10,000 units.

For context on the overall cost absorption, the Cost of Revenue for the period ending June 29, 2025, was $30.84 million against total Revenue of $31.17 million, leading to a razor-thin Gross Profit of $336.8k and a Gross Margin of 1.08% in that period.

MingZhu Logistics Holdings Limited (YGMZ) - Canvas Business Model: Revenue Streams

You're looking at the revenue streams for MingZhu Logistics Holdings Limited (YGMZ) as of late 2025. The business model shows a clear reliance on its legacy logistics operations while actively pursuing diversification, notably into robotics.

The core trucking service fees are under pressure, showing a clear trend of decline. For the six months ended June 30, 2025 (H1 2025), the reported sales were $13.64 million. We map the trucking service fees to the figure provided in your outline, recognizing the challenging environment for this segment.

Here's a breakdown of the key revenue components we can quantify:

Revenue Stream Component	Latest Available Financial Data/Value
Trucking Service Fees (Core, declining)	$13.6 million (Implied from H1 2025 total)
AI Robot Dog Sales (Contract Value)	$6.99 million (Total contract value with TickToc Apex Inc.)
Latest Reported Sales (H1 2025)	$13.64 million

The diversification efforts are notable. The AI Robot Dog sales stream is anchored by a significant agreement. Mingzhu Technology Limited signed a contract on November 27, 2025, to supply 10,000 MZ-01 model Robot Dogs for a total contract value of US$6.99 million. Deliveries for this contract are scheduled to be completed in batches no later than September 30, 2026.

MingZhu Logistics Holdings Limited also generates revenue from other areas, though specific 2025 figures aren't as clearly segmented in the latest reports:

• Sales from the higher-margin liquor distribution business.
• Fees from car-hailing and driver management services.

Regarding the specific quarterly figure you mentioned, the latest comprehensive revenue figure available is the H1 2025 sales figure of $13.64 million, which is down from USD 22.89 million a year ago. The specific Q1 2025 revenue of $17.54 million is not present in the latest financial disclosures found.

Finance: draft 13-week cash view by Friday.