NANPING, China, June 14, 2021 /PRNewswire/ -- Happiness
Biotech Group Limited (the "Company" or Nasdaq: HAPP), an
innovative China-based
nutraceutical and dietary supplements producer and e-commerce
services provider, announced today that Taochejun (Fujian) Automobile Distribution Co., Ltd.
("Taochejun"), a subsidiary of the Company in China, has signed an agreement with Guang'an
Ruili Trading Co., Ltd ("Ruili") to jointly purchase and sell 1213
Volkswagen electric vehicles.
According to the agreement, Taochejun and Ruili will jointly
purchase 1213 pure electric vehicle "e-Bora", with a total
consideration of RMB90.12 million
(approximately $14.10 million). Ruili
is a large auto trading company in Sichuan Province, China, which has a wide range of business
relationships and social resources in Sichuan.
"We are very happy to work with Ruili on this transaction. As a
newly established brand, Taochejun has achieved rapid development
through cooperation with large auto trading groups such as Geely
Technology Group Co., Ltd. ("Geely") and Ruili. With the help of
Ruili, we got more than 1000 Volkswagen pure electric vehicles at a
very friendly price, which not only gives an actual discount to the
users of Taochejun , but also further strengthens the ability of
Taochejun to obtain high-quality vehicles and attract more
customers in the future," said Mr. Xuezhu
Wang, CEO of the Company.
About Happiness Biotech Group Limited
Headquartered in Nanping, China, Happiness Biotech Group Limited has two
business segments: nutraceutical and dietary supplements and
e-commerce. The nutrition and dietary supplements business is
focusing on the research, development, manufacture and marketing of
various products made from Chinese herbal extracts and other
ingredients. Over the past 17 years, we have established a product
portfolio consisting of 32 PRC National Medical Products
Administration registered "Blue-Cap" SKUs of nutraceutical and
dietary supplements products. Our e-commerce business focuses on
providing e-commerce solutions and services for small and
medium-sized enterprises. Our mission for the e-commerce segment is
to constantly enable small and medium-sized enterprises to fully
leverage the power of e-commerce to grow rapidly. For more
information, please visit: www.happ.org.cn
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. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the
Company's future business development; product and service demand
and acceptance; changes in technology; economic conditions;
reputation and brand; the impact of competition and pricing;
government regulations; fluctuations in general economic and
business conditions in China, the
COVID-19 outbreak and its impact on our operations and assumptions
underlying or related to any of the foregoing and other risks
contained in reports filed by the Company with the Securities and
Exchange Commission. For these reasons, among others,
investors are cautioned not to place undue reliance upon any
forward-looking statements in this press release. Additional
factors are discussed in the Company's filings with the U.S.
Securities and Exchange Commission, which are available for review
at www.sec.gov. The Company undertakes no obligation to publicly
revise these forward-looking statements to reflect events or
circumstances that arise after the date hereof.
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SOURCE Happiness Biotech Group Limited