SHANGHAI, April 7,
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, Fanlunke Supply
Chain Management (Shanghai) Co.,
Ltd. ("Shanghai Fanlunke"), has entered into an agricultural trade
management services agreement (the "Agreement") with Shenzhen
Gongsheng Grain, Oil and Food Import and Export Group Co., Ltd.
("Gongsheng"), a company primarily engaged in the wholesale of
aquatic products including freshwater fishes and seafood. The
Agreement represents an important initiative of the Company's
supply chain business strategy to increase its presence and explore
growth opportunities in the aquatic products market.
China is the largest producer
of aquatic products in the world, accounting for around 35% of the
global fish and seafood production volume in 2020, according to
Statista. It is also a major consumer of aquatic products. The
total revenue from the fish and seafood products markets in
China is estimated to reach
US$88 billion in 2023 and is
estimated to surpass US$120 billion
in 2027.
The Agreement was executed as a part of Nisun's supply chain
trading operations. Under the Agreement, Shanghai Fanlunke will
purchase aquatic products from designated suppliers based on orders
from Gongsheng, with full payment for the products, while Gongsheng
provides a 20% deposit with Shanghai Fanlunke. The products will be
delivered to Shanghai Fanlunke's designated warehouse, and upon
order completion and payment, the Company will arrange for the
products to be delivered to specified locations or customers. The
cooperation between Shanghai Fanlunke and Gongsheng is expected to
reach RMB 300 million (approximately
US$43.5 million)
Mr. Xiaoyun Huang, Chief
Executive Officer of Nisun, commented, "We are delighted to partner
with Gongsheng and harness the vast potential for growth in the
aquatic products market. We believe that our partnership will help
us expand our business territory to include aquatic foods and
facilitate the strategic advancement of our supply chain
operations. In the future, we will take further initiatives to
increase our presence in the aquaculture sector, enhance the reach
of our supply chain services, and create value for our
shareholders."
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
