SHANGHAI, April 25,
2023 /PRNewswire/ -- Nisun International
Enterprise Development Group Co., Ltd ("Nisun" or the "Company")
(Nasdaq: NISN), a provider of innovative comprehensive solutions
through 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 cooperation agreement
("the Agreement") with Jiangsu Lulou Cultural Media Co., Ltd.
("JL"), an e-commerce service provider specialized in operating
Pinduoduo, one of the Chinese largest e-commerce platform. The
partnership represents a significant initiative of the Company to
develop e-commerce business.
Pursuant to the Agreement, Shandong
Fintech agrees to authorize JL to operate its e-commerce store on
Pinduoduo and take in charge of associated operation, promotion,
marketing, and inventory planning. Shandong Fintech agrees to take
in charge of the purchase of goods sold on its Pinduoduo store and
JL agrees to notify Shandong Fintech of purchase quantity, delivery
date, and other requirements. It is expected that the scale of
cooperation will exceed RMB 200
million (approximately US$28.9
million).
To better leverage the Company's advantage of supply chain of
agricultural products, the Company plans to sell high-quality rice
on its Pinduoduo store at the beginning. With China being the largest producer and consumer
of rice globally, accounting for 30% of the total world production
and consumption of rice, this partnership presents a significant
growth opportunity for the Company. Around 65% of the Chinese
population relies on rice as their staple food. In 2021,
China produced approximately 214.4
million metric tons of rice, with a harvested area of 30.4 million,
according to the Food and Agriculture Organization (FAO).
Reportlinker's analysis predicts that the Fortified Rice market in
China will reach a projected
market size of US$6.9 billion by
2030, with a Compound Annual Growth Rate (CAGR) of 9.7% from 2022
to 2030.
Mr. Xiaoyun Huang, Chief Executive Officer of Nisun,
commented: "We are thrilled to
establish the partnership with JL through the Agreement. We believe
the new partnership will be a valuable complement to our existing
business and is expected to diversify our revenue sources and
strengthen our profitability. As we move forward, we are confident
in our ability to reinforce our market standing and generate
greater 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
View original
content:https://www.prnewswire.com/news-releases/nisun-international-enterprise-development-group-co-ltd-announces-new-strategic-alliance-to-develop-e-commerce-business-301806477.html
SOURCE Nisun International Enterprise Development Group Co.,
Ltd
