NANPING, China, Sept. 23, 2021 /PRNewswire/ -- Happiness Biotech
Group Limited (the "Company" or Nasdaq: HAPP), a China-based company engaging in the business
of production of nutraceutical and dietary supplements, providing
e-commerce solutions, and the sales of automobile, today announced
that Taochejun (Fujian) Automobile
Distribution Co., Ltd. ("Taochejun") and its subsidiary have signed
agreements with Guang'an Ruili Trading Co., Ltd ("Ruili") to
purchase 1350 of the model Bestune B30 EV 400.
Bestune, previously known as Besturn, is an automotive marque
owned by the Chinese automaker FAW Group. Bestune B30 is the first
model developed by FAW's all-new A- segment platform. This model is
outstanding in comfort, performance and stability. According to the
agreements, Taochejun purchased 1350 pure electric vehicle "Bestune
B30 EV 400", with a total consideration of approximately
RMB95 million (approximately
$14.7 million).
Ruili is a large auto trading company in Sichuan Province, China, which has a wide range of business
relationships and social resources in Sichuan. The Company previously purchased
the model of "e-Bora" together with Ruili in this June and
has successfully sold all the e-Bora models.
"We are very happy to cooperate with Ruili again. Taochejun
gained a lot of valuable experience from our previous transaction
with Ruili. We believe this transaction will further consolidate
the long-term cooperative relationship between the two sides. After
the integration and resource accumulation of Taochejun in the past
few months, the distribution capacity of the platform has been
greatly strengthened. We have obtained pre-sale orders for most of
the 1350 electric vehicles, and we
are confident that the sales will be completed in a short time,"
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