Shengfeng Development CEO Purchases 500,000 Class A Ordinary Shares in the Open Market

Company Overview - Shengfeng Development Limited is a contract logistics company in China that provides integrated logistics solutions, including B2B freight transportation, cloud storage, and value-added services [2] - Established in 2001, the company has developed extensive transportation networks covering 341 cities across 31 provinces in China as of June 30, 2024 [2] Recent Developments - Mr. Yongxu Liu, the Chairman and CEO of Shengfeng, purchased 500,000 Class A ordinary shares at an average price of $1.289 per share on October 14 and 15, 2024 [1] - Mr. Liu expressed confidence in the company's prospects, particularly in the new energy sector and strategic expansions into cold chain and cross-border logistics [1]