Shengfeng Development Limited Announces Joint Venture with Fujian Fulai Aviation to Expand Low-Altitude Logistics Services
Shengfeng Development Limited ("Shengfeng" or the "Company") (NASDAQ: SFWL), a contract logistics company in China providing customers with integrated logistics solutions, announced today that on November 5, 2024, Shengfeng Logistics Group, a variable interest entity that the Company controls via a series of contractual arrangements ("Shengfeng Logistics"), forms a joint venture (the "Joint Venture") with Fujian Fulai Aviation Technology Co., Ltd. ("Fulai Aviation"). The new entity formed in res