NANPING, China, June 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,
announced today that Taochejun (Fujian) Automobile Distribution Co., Ltd.
("Taochejun"), a subsidiary of the Company in China, has entered into a distribution
agreement with Zhejiang Fengsheng
Automobile Sales Co., Ltd ("Maple Auto"), a wholly
owned subsidiary of Geely Technology Group Co., Ltd., or Geely, to
distribute electric vehicles under the brand "Maple" .
According to the distribution agreement, Taochejun will become
the sales agent for "Maple 80V" in Ningbo City and Hangzhou City. The minimum sales target for
the six months ended December 31,
2021 is 200 vehicles. Maple Auto will provide complete
after-sales service and technical support. Taochejun is an upgraded
version of Happy Auto. The Company has redesigned and upgraded its
auto Business Unit, which was initially under the brand name of
"Happy Auto", including the brand logo, marketing campaign and the
future planning, etc. Taochejun will replace Happy Auto as the
unified brand of the Company's Auto Business Unit in the future.
The Company has registered the trademark of Taochejun in
China and launched the WeChat App
of Taochejun in May 2021. Taochejun
will fully inherit the resources and mission of Happy Auto, and
further strengthen the sales and service of new and used cars,
especially new energy vehicles.
"We are very happy to cooperate with Maple Auto and reach an
agreement regarding distribution of Maple automobiles. As a
wholly-owned subsidiary of Geely, Maple Auto has strong technical
support and industry influence. We believe that our cooperation
will achieve good results. We also have very high hopes for
Taochejun, as the upgraded version of Happy Auto, it will have more
layout in the field of new energy vehicles. At present, we are
still discussing cooperation with more manufacturers and large
distributors to further expand our client base. We believe that
with the growth of our platform, we will gain more attraction and
trust from our clients in the future," said Mr. Xuezhu Wang, CEO of the Company.
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