SHANGHAI, Jan. 25, 2022 /PRNewswire/ -- Nisun International
Enterprise Development Group Co., Ltd ("Nisun" or the "Company")
(Nasdaq: NISN), a provider of innovative comprehensive solutions
through an integration of technology, industry, and finance,
announced that on January 14, 2022,
Fintech (Henan) Supply Chain
Management Co., Ltd ("Henan Fintech"), a subsidiary of Fintech
(Shanghai) Digital Technology Co.,
Ltd and controlled affiliate of the Company, entered into a share
acquisition agreement (the "Agreement") with Henan Youjiatian
Agricultural Technology Co., Ltd ("Youjiatian Agricultural" or
"Youjiatian") and its sole shareholder to acquire a majority equity
interest in Youjiatian.
Established in 2016, Youjiatian is an agricultural supply chain
management company. As a result of the booming development of the
agricultural industry in the Henan
province, it has recently experienced rapid growth. With
vegetables, mushrooms and other edible fungi as its main product
lines, Youjiatian has established a comprehensive operation model,
and has served B-end leading enterprises such as Sanquan Food,
Sinian Food, and Qianwei Central Kitchen for many years. In recent
years, Youjiatian has begun to penetrate into new retail formats
such as 7-11 convenience stores and Hema Xiansheng, a subsidiary of
Alibaba Group.
Pursuant to the Agreement, Henan Fintech agreed to acquire 51%
of Youjiatian's equity for a cash consideration of RMB0.51 million (approximately USD80,280) based on the agreed-upon value of the
shares to be acquired. The selling shareholder would be responsible
for all debts of Youjiatian incurred prior to the acquisition and
pledge the remaining 49% equity as collateral to guarantee the
repayment of these debts. Youjiatian agreed to obtain certain land
use rights and pledge such rights and all real properties on the
land as additional collateral to secure the repayment of the
pre-existing debts. As the majority shareholder, Henan Fintech (or
its affiliates) would provide loan funds for Youjiatian's
operations, as set forth in the Agreement. The parties further
agreed to annual revenue and net income performance targets for
Youjiatian as well as a performance-based profit allocation
schedule between the two parties. Under certain circumstances, the
selling shareholder would be obligated to repurchase the equity
interest acquired by Henan Fintech for RMB0.51 million in cash. The transaction is
expected to close in 90 days.
"This past year, Henan Fintech continued to explore new
opportunities and has made remarkable achievements to establish its
brand, adjust its internal structure, recruit a talent team and
build our company culture," said Nan
Li, General Manager of Henan Fintech. "The acquisition of
Youjiatian Agricultural will facilitate our expansion into the
agricultural industry while providing opportunities to acquire more
companies in the industry. Henan Fintech strives to build its
brand power to further contribute to China's strategy for rural
revitalization."
During the agreement signing ceremony, Guifeng Xu, Chairman of Youjiatian Agricultural,
said: "Through this acquisition, Youjiatian Agricultural will
benefit from Henan Fintech's line of capital and capacity for
advanced supply chain integration to further broaden the scale of
our business and expand to other regions in China."
With the agricultural industry as one of its core service
segments, Nisun will continue to use its advantages to maintain
comprehensive coverage and dynamic circulation in the agricultural
supply chain, providing high-quality and effective supply chain
management solutions to current and potential clients.
About Nisun International Enterprise Development Group Co.,
Ltd
Nisun International Enterprise Development Group Co., Ltd
(NASDAQ: NISN) is a technology-driven, integrated supply chain
solutions provider focused on transforming the corporate finance
industry. Leveraging its industry experience, Nisun is dedicated to
providing professional supply chain solutions to Chinese and
foreign enterprises and financial institutions. Through its
subsidiaries, Nisun provides users with professional solutions for
technology supply chain management, technology asset routing, and
digital transformation of tech and finance institutions, enabling
the industry to strengthen and grow. At the same time, Nisun
continues to deepen the field of industry segmentation through
industrial and financial integration, by cultivating/creating an
ecosystem of openness and empowerment. Nisun has built a linked
platform that incorporates supply chain, banking, securities,
trust, insurance, funds, state-owned enterprises, among other
businesses. Focusing on industry-finance linkages, Nisun aims to
serve the upstream and downstream of the industrial supply chain
while also assisting with supply-side sub-sector reform. For more
information, please visit http://ir.nisun-international.com.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about Nisun's view of
its future expectations, plans and prospects that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. Actual
results may differ materially from historical results or those
indicated by these forward-looking statements as a result of a
variety of factors including, but not limited to, risks and
uncertainties associated with its ability to raise additional
funding, its ability to maintain and grow its business, variability
of operating results, its ability to maintain and enhance its
brand, its development and introduction of new products and
services, the successful integration of acquired companies,
technologies and assets into its portfolio of products and
services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. Nisun
encourages you to review other factors that may affect its future
results in Nisun's registration statement and in its other filings
with the Securities and Exchange Commission. Nisun assumes no
obligation to update or revise its forward-looking statements as a
result of new information, future events or otherwise, except as
expressly required by applicable law.
Contacts
Nisun International Enterprise Development Group Co.,
Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
ICR, LLC
Tel: +1 203 682 8233
Email: nisun@icrinc.com
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SOURCE Nisun International Enterprise Development Group Co.,
Ltd