Toronto,Ontario--(Newsfile Corp. - March 21, 2022) - Tenet Fintech Group Inc. (CSE:PKK) (OTC Pink: PKKFF) ("Tenet" or the "Company"), an innovative Fintech and AI service provider and manager of the Business Hubs™,today announced that it has launched the Yun Fleet Platform as part of its Chinese Business Hub™ecosystem to provide shipping and transportation opportunities to China'sfreight trucking industry resulting from transactions conducted on the Hub.
Roadfreight is the most prominent mode of cargo transportation in China. China hasone of the largest road networks in the world, second only to the UnitedStates. Ten ports in mainland China are included among the 30 top containerharbors in the world, with the port in Shanghai being by far the busiest in theworld. Rising domestic growth and rapidly developing road infrastructures areexpected to continue to benefit China's freight trucking industry for years tocome. According to global research firm IBISWorld, the industry's revenueshould hit USD$ 127B in 2022. But despite its impressive profile, the industrysuffers from various deficiencies. Trucks carry more than 80 percent of thenation's goods, but the trucking industry remains highly fragmented andinefficient. The South China Morning Post estimates that there are anywherefrom 18M to 30M truck drivers in China. Most of whom are owner-operatortruckers who own more than 90 percent of trucks on the road. Those trucks standempty about 40% of the time because their owners spend an average of three daysto find shipments for them.
"Roadfreight plays a critical role in China's economy, impacting virtually everyindustry from agriculture, to construction, manufacturing and retail,"commented Tenet China CEO Liang Qiu. "With the continuous expansion of ourBusiness Hub™ ecosystem and as we get involved with more industries, itfacilitates more and more transactions, and inevitably generates an increasingnumber of shipping opportunities. The idea behind the Yun Fleet Platform is toinvite the country's millions of owner-operator truck drivers to join theplatform to be potentially matched with the shipping opportunities created bythe Hub. While Tenet isn't the first company to recognize and try to solve theinefficiencies in China's freight trucking industry, that credit would have togo to the Full Truck Alliance Platform, the fact that wegenerate shipping opportunities rather than having to look for them, will allowus to work in partnership with other shipping platforms rather than competewith them. At the end of the day, our goal remains the same, and that's toattract as many businesses as possible to our Business Hub™ ecosystem. Thelaunch of the Yun Fleet Platform provides us another way to reach that goalwhile continuing to expand the Hub's capabilities."
YunFleet matches freight truckers with shipping opportunities based on factorssuch as proximity, fleet availability, whether climate control is required anda variety of other factors to optimize cost and time efficiency for shippersand truckers alike. In addition to shipping opportunities, Yun Fleet membersare also eligible for other Business Hub™ services including financing andinsurance services.
Updateon Year-end 2021 Financial Statements
Tenetalso announced today that the Company will file its audited year-end 2021financial results on April 29, 2022.
AboutTenet Fintech Group Inc.:
TenetFintech Group Inc. is the parent company of a group of innovative financialtechnology (Fintech) and artificial intelligence companies. Tenet'ssubsidiaries provide various analytics and AI-based services to financialinstitutions and businesses through the Business Hub™, an ecosystem where dataanalysis and artificial intelligence are used to facilitate transactions amongits members. For more information: http://www.tenetfintech.com
Formore information, please contact:
Cathy Hume, CEO
416-868-1079 ext.: 251
MZGroup - MZ North America
Mark Schwalenberg, CFA
Barry Ellison, Director of Marketing and Communications
514-340-7775 ext.: 521
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Forward-LookingStatements / Information:
Thisnews release may include certain forward-looking information, includingstatements relating to business and operating strategies, plans and prospectsfor revenue growth and listing plans, using words including"anticipate", "believe", "could","expect", "intend", "may", "plan","potential", "project", "seek","should", "will", "would" and similarexpressions, which are intended to identify a number of these forward-lookingstatements. Forward-looking information reflects current views with respect tocurrent events and is not a guarantee of future performance and is subject torisks, uncertainties and assumptions. The Company undertakes no obligation topublicly update or review any forward-looking information contained in thisnews release, except as may be required by applicable laws, rules andregulations. Readers are urged to consider these factors carefully inevaluating any forward-looking information.