SHANGHAI, April 12,
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, Nanjing NiSun
Gold Co., Ltd. ("NiSun Nanjing"), has entered into a gold product
sales and purchase agreement (the "Agreement") with Beijing Guodao
Gold Co., Ltd. ("Guodao"), a company primarily engaged in the
design, development, and distribution of precious metals in
cultural and related fields. The Agreement is a significant
initiative of the Company's supply chain business strategy, aimed
at increasing its presence and exploring growth opportunities in
the gold market.
China has been the world's
largest gold consumer since 2013, with a demand of 1,002 tonnes in
2022. According to European Business Magazine and HKTDC Research,
China is also the largest market
for gold jewelry, accounting for 31.8% of the world's market, with
675 tonnes of gold sold for jewelry and RMB420 billion in total market revenue in 2021.
With the likely economic rebound, the consumer gold demand in
China is expected to return to
high levels due to the improved consumer confidence.
The Agreement was executed as part of Nisun's supply chain
trading operations. Nisun Nanjing will procure gold raw materials
upon requests by Guodao and process these requests according to
design, fonts, content, and other format requirements provided by
Guodao. It is expected that the scale of the first phase of
cooperation will reach RMB80 million
(approximately $11.62 million).
Mr. Xiaoyun Huang, Chief
Executive Officer of Nisun, commented, "We are pleased to cooperate
with Guodao as it is a highly innovative company dedicated to the
creative cultural precious metals favored by the consumers. We
believe this partnership will enable us to increase our presence
and tap into the growth potential in the gold market. Going
forward, we believe our strong capability will enhance our market
position, strength our relationship with customers and deliver
long-term benefits for our stakeholders."
About Beijing Guodao Gold Co., Ltd.
Established in 2005, Beijing Guodao Gold Co., Ltd. primarily
engages in the design, development, and launch of precious metals
in cultural and other related fields. Guodao has developed a wide
variety of precious metal collections infused with cultural
creativity that embody Chinese cultural spirit and are beloved by
consumers. Guodao adheres to its core values of preserving the
Chinese national heritage and recording China's progress, and pioneers in creating the
development project of national treasure gold artwork. Guodao has
been committed to exploring the cultural significance of gold has
established itself as a prominent distributor of gold products with
numerous national patents.
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
