UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Form
6-K
REPORT
OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16 UNDER THE
SECURITIES
EXCHANGE ACT OF 1934
For
the month of July 2023.
Commission
File Number: 001-39904
HUADI
International group Co., Ltd.
(Translation
of registrant’s name into English)
No.
1688 Tianzhong Street, Longwan District,
Wenzhou, Zhejiang Province
People’s Republic of China 325025
Tel: +86-057786598888
(Address of principal executive office)
Indicate
by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F.
Huadi
(Songyang) Co., Ltd. (“Huadi Songyang”) was incorporated on June 15, 2023 under the laws of People’s Republic of China
(the “PRC”). Huadi Songyang is a wholly owned subsidiary of Hong Kong Beach Limited, one of the wholly owned subsidiaries
of Huadi International Group Co. Ltd. (the “Company”). Huadi Songyang is established for the purpose of expanding product
line of industrial steel pipe and tube products manufacture and distribution in the future.
Attached
as Exhibit 99.1 is the registrant’s press release of July 5, 2023, entitled, “Huadi International Group Co., Ltd. Enters
into an Investment Agreement with a Songyang County Local Government Owned Enterprise to Build its Smart Factory, “Future Factory”.”
EXHIBIT
INDEX
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned, thereunto duly authorized.
| Date:
July 5, 2023 |
HUADI
INTERNATIONAL GROUP CO., LTD. |
| |
|
|
| |
By: |
/s/
Huisen Wang |
| |
Name: |
Huisen
Wang |
| |
Title: |
Chief
Executive Officer |
2
Exhibit 99.1
Huadi
International Group Co., Ltd. Enters into an Investment Agreement with a Songyang County Local Government Owned Enterprise to Build its
Smart Factory, “Future Factory”
WENZHOU,
Jul.05, 2023, Huadi International Group Co., Ltd. (“HUDI” or the “Company”) (NASDAQ: HUDI), a leading developer
and manufacturer of industrial stainless steel seamless pipes and tubes products in China, today announced that Huadi (Songyang)
Co., Ltd. (“Huadi Songyang”), a wholly-owned subsidiary of the Company, has entered into an investment agreement (the “Agreement”)
with Songyang County Economic Development and Investment Group Co., Ltd. (“Songyang Group”), a Songyang County local government
owned enterprise in Zhejiang Province. The Agreement aims to start an advanced “Future Factory” construction project in the
Chishou Industrial Zone of southwestern Zhejiang Province, China.
Puruant
to the Agreement, the factory will occupy approximately 50 acres with a total investment of approximately RMB1 billion, including fixed
asset investments of over RMB620 million. HUDI plans to finance the project primarily via its working capital. Huadi Songyang has officially
obtained the rights to use the first portion of 26 acres of land from Songyang Economic Development Zone on June 30, 2023, for the construction
of the Future Factory project.
The Future
Factory project, equipped with digital production line facilities, is expected to produce 60,000 tons of stainless steel seamless tubes
and special alloy steel products annually, including 300 series, 400 series, 600 series, and 800 series. The project will be constructed
in two phases, with the first phase building the factory over approximately 26 acres which will commence from December 1, 2023 to November
30, 2026, and the second phase, building the factory over approximately 24 acres which will be completed within 36 months after the land
meets the construction requirements.
Pursuant
to the Agreement, the Songyang County local government has authorized Songyang Group to provide a series of supportive policies for the
construction of the Future Factory project, including a total of RMB 15 million in infrastructure construction subsidies to be granted
to Huadi Songyang upon completion of all fixed asset investments within the agreed period. Additionally, Huadi Songyang will enjoy infrastructure
construction subsidies after meeting tax requirements for eight years following the factory’s completion. Other benefits include
equipment investment incentives, rewards for obtaining the intelligent manufacturing title, rewards for utilizing foreign investment effectively,
and incentives for attracting top managerial talents.
Mr. Wang
Di, Chairman of the Company, commented, “We are pleased to have reached this important cooperation agreement with the Songyang government
to launch our new factory project. With the steady growth in market demand, we expect continuous increase in product orders. Therefore,
expansion of production capacity and digital transformation of our production line are our key strategic plans in the coming years.”
“In
addition, the strong support of Songyang County government’s investment attractions policies is one of the main reasons why we chose
to locate our new factory in Songyang County, Zhejiang Province. The Future Factory project will enable us to continuously expand our
production capacity of high-quality products while maintaining high-cost efficiency to meet the most stringent industry standards and
provide excellent products to our customers. After completion of the project, we expect the project will be able to bring an annual output
value of approximately RMB1.7 billion to HUDI. We will also focus on building a smart factory and digital management of manufacturing.
We look forward to the significant economic boost and increased job opportunities that the construction of the new factory will bring
to Songyang County.”
About Huadi International Group Co., Ltd.
Huadi International Group Co., Ltd. is a leading
manufacturer of industrial stainless steel seamless pipes and tubes products with extensive distribution facilities and network for over
twenty provinces in China and across international steel pipes industry. It offers a broad range of products exported to twenty countries
and regions such as United States, Mexico, Thailand, Australia, Argentina, Taiwan, India, the Philippines, UAE and Canada. Its products
are widely used in the oil & gas transmission, chemistry engineering, food processing, medical devices, aeronautics and astronautics,
boiler, irrigation works construction, electricity, automobile, naval architecture, paper mill and mechanical industries. For more information
about the Company, please visit: http://www.huadi.cc.
Forward-Looking Statement
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; financial condition and results of operations;
product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government
regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing
and other risks contained in reports filed by the Company with the SEC. 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 SEC, 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.
For more information, please contact:
The Company:
IR Department
Email: IR@huadigroup.com
Investor Relations:
Wealth Financial Services LLC
Janice Wang
Email: services@wealthfsllc.com
Phone: +86 13811768599
+1 628 283 9214
Huadi (NASDAQ:HUDI)
Historical Stock Chart
From Nov 2024 to Dec 2024
Huadi (NASDAQ:HUDI)
Historical Stock Chart
From Dec 2023 to Dec 2024
