YanGuFang Oatmeal Tops Sales Chart in Key Category on Douyin during the Double 11 Festival in China
December 15 2023 - 8:30AM
YanGuFang International Group Co., Ltd. (the “Company” or
“YanGuFang”) (Nasdaq: YGF), a health food company primarily engaged
in the production, sourcing, research and development, and sales
and distribution of oat and grain products across China and
internationally, today announced that its oatmeal products ranked
first in the “Meal Replacement Oatmeal” category and second in the
“Instant Drink” category on Chinese e-commerce platform Douyin
during the Double 11 online shopping festival, a nationwide online
sales event held around November 11 each year.
For the first time since its debut, YanGuFang’s
Germ Oatmeal was the number one seller in the “Meal Replacement
Oatmeal” category on Douyin during the festival. It also secured
the runner-up position in the “Instant Drink” category, which
pertains to beverages created by adding water to processed food.
According to Douyin’s e-commerce analytics, the YanGuFang Official
Flagship Store witnessed a 34-fold year-over-year increase in Gross
Merchandise Volume (GMV) during the festival.
Douyin, the Chinese counterpart to TikTok, has
emerged as an important and fast-growing e-commerce channel in
recent years. To capitalize on this momentum and expand its
customer base, YanGuFang’s New E-Commerce Division has integrated
Douyin as a key component of its sales strategy. YanGuFang debuted
Germ Oatmeal on Douyin in 2022, and has since sold more than 1
million 1,080-gram cans through the platform.
Mr. Junguo He, Chairman and Chief Executive
Officer of YanGuFang, commented, “We are very pleased with our
sales performance on Douyin during the recent Double 11 festival.
These impressive sales figures demonstrate that we have made great
progress in certain targeted categories, and serve as a testament
to the growing demand among Chinese consumers for nutritious food
options. YanGuFang has undertaken a number of strategic initiatives
to promote our products in the marketplace, and we are pleased to
observe that our healthy whole-grain offerings are reaching more
households.”
About YanGuFang International Group Co.,
Ltd.
YanGuFang is a health food company engaged in
the production, sourcing, research and development, sales and
distribution of natural oat and whole grain products. The Company
is committed to improving human health through its research to
explore the nutritional benefits of its products. The Company has
developed over 80 products in its natural oat and whole grain
series. For more information, please visit the Company's website at
http://ir.ygfang.com/.
Forward-Looking Statements
This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform
Act of 1995. Forward-looking statements include statements
concerning plans, objectives, goals, strategies, future events or
performance, and underlying assumptions and other statements that
are other than statements of historical facts. Investors can
identify these forward-looking statements by words or phrases such
as "approximates," "assesses," "believes," "hopes," "expects,"
"anticipates," "estimates," "projects," "intends," "plans," "will,"
"would," "should," "could," "may" or similar expressions. These
forward-looking statements are not guarantees of future performance
and involve known and unknown risks and uncertainties and are based
on the Company's current expectations and projections about future
events that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs, which may cause the actual results to differ materially from
the Company's expectations discussed in the forward-looking
statements. The risks and uncertainties relating to these
statements include, but are not limited to, risks and uncertainties
regarding the Company's ability to develop and sell new or improved
products and services, raise capital, deliver customer orders
timely, execute its business plans, and attract and retain
customers and skilled professionals; risks and uncertainties
regarding fluctuations in earnings, fluctuations in foreign
exchange rates, the impact of COVID-19 on the Company's businesses,
and general economic conditions affecting the Company's industry
and other risks contained in reports filed by the Company with the
U.S. Securities and Exchange Commission (the "SEC"). The Company
undertakes no obligation to update or revise publicly any
forward-looking statements to reflect subsequent occurring events
or circumstances, or changes in its expectations, except as may be
required by law. Although the Company believes that the
expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn
out to be correct, and the Company cautions investors that actual
results may differ materially from the anticipated results and
encourages investors to review other factors that may affect its
future results in the Company's filings with the SEC, which are
available, free of charge, on the SEC's website at www.sec.gov.
For investor and media inquiries please contact:
YanGuFang International Group Co., Ltd.
Investor Relations Department
Email: ir@yangufang.com
Christensen Advisory
Jenny Lam
Assistant Vice President
Phone: +852.2232.3968
Email: yangufang@christensencomms.com
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