Bon Natural Life Limited Announces Strategic Cooperation with Chongqing Jingfubao to Penetrate Consumer Market

Rhea-AI Summary

Bon Natural Life Limited (Nasdaq: BON) announced a memorandum of understanding with Chongqing Jingfubao Trading Co., Limited to enhance multichannel marketing for its human microbiome-based products. The partnership aims to leverage JFB's extensive distribution network in China to boost sales in the growing health and personal care sector. Notably, China's prebiotic market was valued at approximately US$11.3 billion in 2019, with an expected annual growth rate of 15% through 2022. This collaboration is seen as a strategic move to expand BON's market presence and shareholder value.

Positive

• Strategic partnership with JFB to enhance multichannel marketing.
• Access to JFB's extensive distribution network in China.
• Market potential as China's prebiotic market was $11.3 billion in 2019.
• Expected annual growth rate of 15% in the prebiotic sector.

Negative

• None.

XI'AN, China, Sept. 9, 2021 /PRNewswire/ -- Bon Natural Life Limited (Nasdaq: BON) ("BON" or the "Company"), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced that its principle operating entity has entered into a memorandum of understanding for a strategic cooperation agreement to be executed in the near future (the "Agreement") with Chongqing Jingfubao Trading Co., Limited ("JFB") to provide multichannel marketing and sales solutions for BON's proprietary human microbiome based products intended to improve digestive and intestinal health, and immunity-boosting on September 8, 2021.

JFB operates a leading e-commerce/new retail marketing platform specializing in marketing and selling health and personal care products in China. Pursuant to the Agreement, JFB will market BON's products through online and offline channels to its extensive distribution network of health conscious customers. The two parties plan to sign an official partnership agreement in the near future.

"We are excited to be in partnership with JFB to introduce our high-quality proprietary health products to consumers in China." Commented Richard (Yongwei) Hu, the Chairman and CEO of Bon Natural Life Limited, "According to Euromonitor International's research, China's prebiotic market alone was valued at approximately CNY ¥73.3 billion, approximately US$11.3 billion in 2019, and it is expected to grow exponentially at an annualized rate of 15% from 2020 to 2022. With the growth of China's healthcare industry and increase in disposable income, we are thrilled to pursue the opportunity in the massive and fast-growing consumer market by leveraging our proprietary technologies in human microbiome health and JFB's strong marketing capability and broad sales network. We believe that the partnership with JFB is a natural utilization and extension of our core competence in bioingredient business, achieve additional growth and enhance our shareholders' value."

About Bon Natural Life Limited

The Company focuses on the manufacturing of personal care ingredients, such as plant extracted fragrance compounds for perfume and fragrance manufacturers, natural health supplements such as powder drinks and bioactive food ingredient products mostly used as food additives and nutritional supplements by their customers. For additional information, please visit the Company's website at www.bnlus.com.

Safe Harbor Statement

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; the growth of the natural, health and personal care market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. 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 SEC, 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.

For more information, please contact:

In the United States:                                                       In China:
Maggie Zhang | Impact IR                                              Sophie Zhang | Impact IR
Phone: (646) 893-8916                                                   Email: sophie.zhang@irimpact.com
Email: maggie.zhang@irimpact.com

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SOURCE Bon Natural Life Limited

FAQ

What is the strategic partnership Bon Natural Life Limited (BON) announced?

Bon Natural Life Limited announced a memorandum of understanding with Chongqing Jingfubao Trading Co., Limited to enhance marketing and sales solutions for its proprietary human microbiome products.

What are the expected benefits of the agreement between BON and JFB?

The partnership aims to leverage JFB's distribution network to boost BON's product sales in the rapidly growing health and personal care market.

What is the size of China's prebiotic market according to BON's announcement?

According to Bon Natural Life, China's prebiotic market was valued at approximately US$11.3 billion in 2019.

What is the projected growth rate of China's prebiotic market?

The prebiotic market in China is expected to grow at an annualized rate of 15% from 2020 to 2022.

When was the memorandum of understanding between BON and JFB signed?

The memorandum of understanding was signed on September 8, 2021.