NANPING, China, Sept. 9, 2020 /PRNewswire/ -- Happiness Biotech
Group Limited (the "Company" or Nasdaq: HAPP), an innovative
China-based nutraceutical and
dietary supplements producer, announced today that the Company has
set up a wholly owned subsidiary "Happy Buy (Fujian) Internet Technology Co., Ltd."("Happy
Buy") focusing on further developing the Company's e-Commerce
business.
Happy Buy will carry out a unique B2B e-commerce model,
utilizing the Company's advantages in supply chain and sales
terminals, and leveraging various e-commerce forms to promote the
sales of the Company's products to various online distributors.
Management also expects to provide e-commerce and online marketing
solutions to other small and media business via Happy Buy.
"During the period our business was impacted by the COVID-19, we
have carried out a variety of e-commerce attempts and achieved
gratifying results, which has strengthened the Company's
determination to vigorously develop our own e-commerce business.
Upon in-depth market research and comprehensive consideration,
management decided to use the B2B model, as management believes the
B2B model can maximize the company's existing resources and channel
advantages. We have recruited managers and professionals with rich
experience in e-commerce. We believe that, with the reputation and
brand influence accumulated by Happiness Biotech over the past
years, Happy Buy will shine in the field of e-commerce in the near
future" said Mr. Xuezhu Wang, CEO of
the Company.
About Happiness Biotech Group Limited
Headquartered in Nanping, China, Happiness Biotech Group Limited is an
innovative China-based
nutraceutical and dietary supplements producer focused on the
research, development, manufacturing and marketing of a variety of
products made from Chinese herbal extracts and other ingredients.
The Company's goal is to provide high-quality products to our
consumers. Over the past 14 years, the Company has established a
product portfolio consisting of 32 CFDA registered "Blue-Cap" SKUs
of nutraceutical and dietary supplements products. For more
information, please visit: www.happ.org.cn.
Forward-Looking Statements
This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the
Company's future business development; product and service demand
and acceptance; changes in technology; economic conditions;
reputation and brand; the impact of competition and pricing;
government regulations; fluctuations in general economic and
business conditions in China; the
COVID-19 outbreak and its impact on our operations and assumptions
underlying or related to any of the foregoing and other risks
contained in reports filed by the Company with the Securities and
Exchange Commission. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the U.S.
Securities and Exchange Commission, which are available for review
at www.sec.gov. The Company undertakes no obligation to publicly
revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof.
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SOURCE Happiness Biotech Group Limited