SHANGHAI, April 6,
2023 /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, today
announced that the Company's controlled affiliate, Fintech (Henan)
Supply Chain Management Co., Ltd. ("Henan Fintech"), has entered
into an agricultural trade management services agreement (the
"Agreement") with Henan Furun Food Co., Ltd. ("HFF"), a company
primarily engaging in deep processing of agricultural and sideline
products. The Agreement represents a significant initiative of the
Company's supply chain business strategy to increase its presence
and explore growth opportunities in the market of pork.
According to Statista, China
has the largest hog heard in the world and accounts for more than a
half of the global pig population. Around 60 percent of
China's entire meat industry
output is pork. Pork is also by far the most favored and most
consumed type of meat in the Chinese diet. The domestic per capita
consumption of pork remained the highest among all fresh meat
products and is expected to increase. To meet the growing demand,
China imports over a million
metric tons of pork annually.
The Agreement was executed as part of Nisun's supply chain
trading operations. Under the Agreement, Henan Fintech will
purchase pork from Henan Guiyou Industrial Group based on orders
from HFF, with full payment for the pork, while HFF provides a 30%
deposit with Henan Fintech. The products will be delivered to Henan
Fintech's designated warehouse, and upon order completion and
payment, the Company will arrange for the products to be delivered
to specified locations or customers. Additionally, pursuant to the
Agreement, Fintech has extended a revolving credit facility of
RMB 30 million (approximately
US$4.4 million) to HFF.
Mr. Xiaoyun Huang, Chief
Executive Officer of Nisun, commented, "We are thrilled to venture
into extensive and stable pork market. We believe that our business
collaboration with HFF will enable us to tap into this substantial
market with great potential while also promoting the growth of our
supply chain operations. As we look ahead, we plan to further
expand our presence in the pork market and enhance our supply chain
capabilities. We are confident that this endeavor will increase our
supply chain's exposure to an extremely promising sector,
ultimately delivering long-term value for our shareholders."
About Henan Furun Food Co., Ltd.
Established in August 2004, Henan
Furun Food Co., Ltd. has a registered capital of RMB 100 million and 1,100 employees. The
company's main business is the production and operation of
quick-frozen food, which is mainly based on the deep processing of
agricultural and sideline products. The business scope covers deep
processing of quick-frozen rice and flour products, quick-frozen
vegetables, and other agricultural and sideline products. The
company's annual design production capacity is 50,000 tons. In 2007
and 2010, the company was successively rated as "Key Leading
Enterprise of Agricultural Industrialization in Henan Province" by the provincial government
and the Provincial Department of Agriculture respectively. In
August 2010, it was rated as a "Key
Poverty Alleviation Enterprise in Henan
Province" by the provincial government, and as a unit of
"Vice President of Henan Poverty Alleviation Association" in 2011.
The company has passed QS certification and ISO9001 system
certification, and its products have entitled "Henan Province
Famous Brand Products" and "Henan Province
High-quality Products". In December
2010, it was awarded as "Henan Province Famous Brand". The
company was also rated as an AA grade credit enterprise during the
financial system credit rating evaluation in 2021.
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 rich 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. 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
Ascent Investor Relations LLC
Tina Xiao
Tel: +1 (917) 609 0333
Email: tina.xiao@ascent-ir.com
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SOURCE Nisun International Enterprise Development Group Co.,
Ltd
