NANPING, China, April 13, 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,
announced today that the Company's e-commerce business recorded
sales of over $14 million in March,
the highest single month's sales since the establishment of the
Company's E-commerce department in September
2020.
Among the sales of the e-commerce business, Happy Buy recorded
over $11.8 million, exceeding the
previous expectation of $8 million to
$10 million, and Happy Auto recorded
sales of more than $2.6 million in
March. Since the launch of the company's E-commerce business in
September 2020, the revenue of the
Company's e-commerce business has exceeded $28 million in the past six months, 30% higher
than the total revenue of $21.88
million of the whole Company during the six months ended
September 30, 2020.
"At present, the Company's e-commerce are mainly marketed via
community group buying and live streaming platforms. Besides
selling the Company's own products, we also acted as agents
of other business for their products, including accessories, food,
clothing, etc. We have established Advertising and Optimization
Department, Procurement Department, and Live Streaming Marketing
Department, as well as a solid data center and service platform to
support these departments. Currently we have set up three live
streaming marketing bases in Fuzhou, Hangzhou and Guangzhou and the team is still expanding. Our
next step is to start cross-border e-commerce business and
e-commerce operation agency business. The company's own overseas
online stores will be launched this month," Mr. Xuezhu Wang, CEO of the Company, continued, " We
believe that with the continuous hard work of our team and
expansion of our marketing efforts, we would be able to achieve
more promising results in fiscal year 2021"
About Happiness Biotech Group Limited
Headquartered in Nanping, China, Happiness Biotech Group Limited has two
business segments: nutraceutical and dietary supplements and
e-commerce. 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 32 PRC National Medical Products
Administration registered "Blue-Cap" SKUs of nutraceutical and
dietary supplements products. Our e-commerce business focuses on
providing e-commerce solutions and services for small and
medium-sized enterprises. Our mission for the e-commerce segment is
to constantly enable small and medium-sized enterprises to fully
leverage the power of e-commerce to grow rapidly. 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