SHANGHAI, April 14,
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 subsidiary, Nisun Haiyuan (Qingdao) Supply Chain Management Co. Ltd
("Nisun Haiyuan"), a joint venture company established by NiSun
Ocean (Qingdao) Supply Chain
Investment Co., Ltd and Qingdao Haiyuan Daodi Chinese Medicinal
Herbs Technology Co., Ltd ("Daodi"), has signed an agricultural
trade management services agreement (the "Agreement") with Qingdao
Shenghui Traditional Chinese Medicine Planting Professional
Cooperative ("Shenghui"), an affiliate of Daodi primarily engaged
in the cultivation of traditional Chinese medicinal herbs. The
Agreement represents a significant initiative of the Company's
supply chain business strategy to increase its presence and pursue
growth avenues in the Chinese medicinal herbs products market.
Traditional Chinese medicinal herbs form a key component of
traditional Chinese medicine, which enjoys wide popularity in
China and accounted for 40% of
China's pharmaceutical market in
2019. The traditional Chinese medicine market, which was over
US$19 billion by 2022, is expected to
reach US$48 billion by 2030, at a
compound annual growth rate of 11.9% during the forecast period
2023 to 2030.
The Agreement was executed as a part of Nisun's supply chain
trading operations. Under the Agreement, Nisun Haiyuan will
purchase traditional Chinese medicinal herbs from designated
suppliers based on orders from Shenghui and arrange for delivery of
the herbs to the warehouses of companies according to the orders of
pharmaceutical company customers. Within 60 days after the
warehousing quality inspection is passed, the pharmaceutical
companies will pay the payment for the goods.
Mr. Xiaoyun Huang, Chief
Executive Officer of Nisun, commented, "We are excited to cooperate
with Daodi and Shenghui as we see this as a great opportunity to
establish our presence in the fast-growing traditional Chinese
medical herbs market. The business cooperation will enable us to
further diversify and expand our service offerings, thus
facilitating our supply chain business development. Moving forward,
we plan to work closely with Shenghui to ensure the quality and
availability of the products, while continuing to seek and seize
more development opportunities in the Chinese medicinal herbs
market. We are confident in our business model and capabilities to
continue creating additional values for our customers and
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
