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· HOUSTON, TX

Hudson Capital Prioritizes U.S. Operations and Sells Chinese Assets

Hudson Capital Inc. (NASDAQ: HUSN) announced that on March 30, 2022, it has sold its wholly-owned subsidiary, Hong Kong Internet Financial Services (HKIFS), to private investors.

Javier Selgas, CEO of Hudson Capital and Freight App, Inc., said, “As we focus more on our core business as a transportation logistics technology platform company and on improving operations, we decided it would be prudent to divest from any non-core, non-performing businesses. With the sale of HJIFS, our operations are 100% based in North America, creating room for long-term growth in our target markets.”

Transaction

The sale of HKIFS was completed on March 30, 2022 and included all of the prior operations, obligations, and commitments related to its Chinese operations. The sale of HKIFS will result in Hudson Capital departing from its legacy PRC financial advisory business. The Company expects immaterial financial effects from the sale outside of incurring minimal legal expenses to assemble and formalize the transaction.

About Hudson Capital Inc. and Freight App, Inc.

Freight App, Inc. (Fr8App), North American transportation logistics technology platform company focused on US-Mexico cross-border shipping, is a wholly-owned subsidiary of Hudson Capital Inc. (NASDAQ: HUSN) headquartered in Houston, Texas. Fr8App, focusing on truckload freight for domestic and cross-border markets in Mexico, the US and Canada, makes shipping simple, transparent, and efficient. Fr8App uses its proprietary technology platform to connect carriers and shippers and significantly improve matching and operation efficiency via innovative technologies such as live pricing and real-time tracking, digital freight marketplace, broker, transportation management, fleet management, and committed capacity solutions.

About Freight Technologies

Freight Technologies (Nasdaq: FRGT) (“Fr8Tech”) is a technology company offering a diverse portfolio of proprietary platform solutions that incorporate AI and machine learning tools to optimize and automate aspects of the supply chain process. Focused on addressing the distinct challenges within the supply chain ecosystem, the Company’s portfolio of solutions includes the Fr8App platform for over-the-road (OTR) B2B cross-border shipping across the USMCA region; Fleet Rocket, a nimble, scalable and cost-effective Transportation Management System (TMS) for brokers, shippers, and other logistics operators; Fr8Radar, a GPS integration and shipment visibility module within Fleet Rocket that enables real-time tracking of in-transit freight across the U.S.-Mexico corridor; Zayren, an AI-based, pricing-prediction tool and carrier-matching platform designed specifically for cross-border and domestic OTR freight shipments across Mexico and the United States; and DODA Smart, an AI-assisted customs compliance platform to monitor, verify and trace Digital Customs Documents (DODAs) for trade operators in Mexico. Each product is interconnected within a unified platform to connect carriers and shippers and significantly improve matching and operational efficiency via innovative technologies such as live pricing, real-time tracking, digitization of critical documentation, brokerage support, transportation management, fleet management, and committed capacity solutions.

Forward-looking statements

This press release includes forward-looking statements within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. Actual results may differ from expectations, estimates and projections, and you should not rely on these statements as predictions of future events. These statements involve risks and uncertainties, most of which are outside the Company’s control and difficult to predict. Factors that may cause such differences are identified in the Company’s filings with the U.S. Securities and Exchange Commission. Freight Technologies cautions readers not to place undue reliance on any forward-looking statement, which speaks only as of the date made, and undertakes no obligation to update or revise any of them.

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