NANPING, China, Sept. 10, 2021 /PRNewswire/ -- Happiness Biotech
Group Limited (the "Company" or Nasdaq: HAPP), an innovative
China-based nutraceutical and
dietary supplements producer and e-commerce services provider,
today announced one of its nutraceutical products - Lucidum
Tablets, have been launched for sale on the DouYin Mall, a virtual
mall built within a Douyin mini-program.
"To prevent false advertisement
in the healthcare industry and prohibit defective health products
from entering the market, China
has set forth strict rules and scrutiny in Food Safety Law and the
Advertisement Law for the online sales of health products. DouYin
Mall has even stricter selection procedures for health products.
Happiness was successfully and officially invited by DouYin Mall to
open its store and its Lucidum Tablets is the first lucidum product
to be sold on such e-commerce platform. As the new generation in
China pays more and more attention
to healthy lifestyle, the ready-to-eat nutritious supplements with
appealing packaging, like Happiness's Lucidum Tablets, have become
the new market trend. We believe the demand for nutritious
supplements will continue to grow in the future.
Lucidum Tablets is our first product launched in DouYin Mall.
The gross margin is expected to be over 40%. We plan to utilize our
advantages in lucidum supply chain, our research and development
ability, to cater to the market demand and develop more popular
lucidum products to make Happiness become the top lucidum brand on
DouYin. As the gift season is upcoming, we expect a big sale of our
for health products at the end of this year," said Mr. Xuezhu Wang, CEO of the Company.
About Happiness Biotech Group Limited
Headquartered in Nanping, China, Happiness Biotech Group Limited
currently has three business lines：nutraceutical and dietary
supplements, e-commerce and auto sales. The nutrition and dietary
supplements business is focusing on the research, development,
manufacture and marketing of various products made from Chinese
herbal extracts and other ingredients. Over the past 17 years, we
have established a product portfolio consisting of 23 PRC National
Medical Products Administration registered "Blue-Cap" SKUs of
nutraceutical and dietary supplements products. Our e-commerce
business focuses on offering e-commerce solutions, including
advertising and information technology services to small and
medium-sized enterprises in China.
We also run our online stores which carries our products of dietary
supplements and other selected products sourced from the small and
medium-sized enterprises in China.
Our mission for the e-commerce business is to enable small and
medium-sized enterprises to fully leverage the power of e-commerce
to grow rapidly. Our automobile sales adopts the B2B business model
and is committed to optimizing the auto supply chain by connecting
car dealers on our online automobile sales platform and offering
the overall services for purchasing automobiles. 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