SHANGHAI, April 18,
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 Supply Chain
Management (Shandong) Co., Ltd
("Shandong Fintech"), has entered into a wheat flour sales and
purchase agreement ("the Agreement") with Binzhou Zhongyu Food
Industry Co., Ltd ("Zhongyu Food"), a leading manufacturer in
China with a green and
environmental circular economy industrial chain from wheat seeds to
deep production. The Company expects to accelerate its business
growth in the market of wheat flour through the execution of the
Agreement, which also represents a significant initiative of the
Company to play an important role in response to the national
policy of rural revitalization.
With high consumption of wheat flour in everyday meals and vast
wheat production capacity, China
is the largest wheat consumer and producer in the world.
China produced around 137.7
million tons of wheat in 2022 and consumed almost 150 million
metric tons of wheat in the 2021/2022 marketing year. The yearly
per capita wheat consumption of China is projected to increase from 65.8 kg in
2019 to 76 kg in 2030 and 95 kg in 2050.
The Agreement was executed as part of Nisun's supply chain
trading operations. Pursuant to the Agreement, Zhongyu Food would
notify Shandong Fintech of the purchase quantity, delivery date,
and other requirements one day in advance and pay the full amount
for the goods within 10 business days from the delivery date. It is
estimated that by the end of 2023, the scale of cooperation will
exceed RMB 600 million.
(approximately US$87.3 million)
Mr. Xiaoyun Huang, Chief
Executive Officer of Nisun, commented. "We are thrilled to
establish the partnership with Zhongyu Food through the Agreement.
This partnership is anticipated to enhance our business presence in
the wheat flour market and fuel our exploration of new growth
opportunities. We believe the new partnership will be a valuable
addition to our existing efforts in the wheat flour market that can
enlarge our customer base. As we move forward, we are confident in
our ability to reinforce our market standing and generate greater
value for our shareholders."
About Binzhou Zhongyu Food Industry Co., Ltd
Founded in 2003, Binzhou Zhongyu Food Industry Co., Ltd is a
leading manufacturer in China with
a green and environmental circular economy industrial chain from
wheat seeds to deep production. Zhongyu Food has an annual wheat
processing capacity of 1 million tons, an annual output of 420,000
tons of dried noodles, 60,000 tons of gluten powder, 100,000 tons
of special grade alcohol, 20,000 tons of quick-frozen and baked
food, 300,000 live pigs for sale, and annual breeding 1 million
piglets. Main products are vital wheat gluten, edible alcohol,
noodles, frozen steamed buns. With high quality and stable
production line, Zhongyu Food's sales network has covered most
cities in China and extended
overseas to Japan, Korea,
Thailand, and Mongolia.
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
