NANPING, China, Feb. 17, 2021 /PRNewswire/ -- Happiness
Biotech Group Limited (the "Company" or Nasdaq: HAPP), an
innovative China-based
nutraceutical and dietary supplements producer, announced today
that Happy Buy, the Company's wholly-owned subsidiary focusing on
e-commerce business, recorded sales of over $5 million in January
2021, relatively stable compared with the sales in
December 2020.
"The growth of Happy Buy was inevitably affected by the
recurrence of the epidemic in China in January, while with the coming of the
Spring Festival, seasonal factors such as the slowdown of logistics
and the reduction of business orders also have negative impact on
our business especially considering Happy Buy is a B2B business.
Despite of these challenges, Happy Buy still managed to maintain
sales of over $5 million in January,"
Mr. Xuezhu Wang, CEO of the Company,
continued, "after the Spring Festival, we expect the growth will
get back to the previous trend. In March, the sales target of Happy
Buy is between $8 million to
$10 million, or 60% to 100% of
increase. What's more exciting is that our newly launched platform
Happy Auto has accumulated more than $5
million worth of potential orders, most of which will be
delivered in March. We are also glad to see that these orders are
mostly comprised of new energy vehicles, which confirms our
management's strategy. With the growth of Happy Buy and Happy Auto,
We are full of confidence in achieving our annual target of over
$20 million for our e-commerce
business."
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 17 years, the Company has established a
product portfolio consisting of 32 PRC National Medical Products
Administration registered "Blue-Cap" SKUs of nutraceutical and
dietary supplements products. Recently the Company started
e-commerce business under the brands "Happy Buy" and "Happy Auto".
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