Marwynn Holdings announced on February 10 that it has signed a non‑binding Letter of Intent to acquire a 51% equity interest in DJ Mex Corp., a U.S. company that sources electronic waste, coordinates logistics, and trades recyclable materials, including lithium‑battery recycling and metal scrap refining.
The deal is intended to accelerate the development of Marwynn’s EcoLoopX platform, an asset‑light e‑waste reverse supply‑chain service that focuses on sourcing, logistics coordination, trading facilitation, documentation management, and commercial operations without engaging in physical processing. Majority control of DJ Mex will give Marwynn access to the company’s existing customer base and logistics network across North America, Latin America, and Asia, thereby broadening its circular‑economy offering.
Marwynn has been pivoting away from its failed food and home‑improvement businesses, which have been divested, and is now concentrating on recurring‑revenue services. The acquisition is a key milestone in that transformation, offering a higher‑margin, scalable model that relies on services rather than capital‑intensive processing.
While the LOI is non‑binding and the financial terms remain undisclosed, the announcement was well received by investors, reflecting confidence in Marwynn’s new strategy. The e‑waste market is expanding, and DJ Mex’s expertise in lithium‑battery recycling positions Marwynn to tap a high‑growth segment. Marwynn’s weak financial health and steep stock decline underscore the importance of this strategic shift.
CEO Yin Yan said the LOI is an important milestone that enhances Marwynn’s ability to reposition its portfolio toward higher‑value, recurring‑revenue activities. DJ Mex CEO Jeff Yang added that the partnership will provide additional resources, strategic support, and access to capital markets to accelerate growth.
The transaction is subject to due diligence and the negotiation of definitive agreements, and it represents a material change in Marwynn’s business strategy and competitive positioning.
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