Farmmi Announces Latest Sales Win
Farmmi, Inc. (NASDAQ: FAMI) announced a significant follow-on order from its subsidiary, Zhejiang Forest Food Co., Ltd., for dried Shiitake mushrooms to be exported to Israel. This order is larger than previous ones and reflects the company's aggressive sales expansion strategy. CEO Yefang Zhang noted the positive impact of increased scale and distribution, expecting accelerated shipment growth as the agricultural industry stabilizes. Farmmi aims to enhance its global market share and leverage its market power through this growth strategy.
- Received a larger follow-on order for dried Shiitake mushrooms, indicating robust demand.
- CEO reports benefits from aggressive sales expansion and increased scale.
- Growth strategy expected to enhance global market share.
- None.
LISHUI, China, Dec. 1, 2020 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its latest sales win. The Company's subsidiary, Zhejiang Forest Food Co., Ltd., has received another multi-product, follow-on order for export to Israel. The latest order is for dried whole and sliced Shiitake mushrooms.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are very pleased with the success of our more aggressive sale expansion. While this latest follow-on order is from an important existing customer, it is larger than prior orders, as we do everything we can to ensure the highest quality and richest taste. We are seeing the benefits of our increased scale, and it is starting to happen faster than we expected. There are more opportunities for Farmmi as the industry enters a healthier period, where we can accelerate shipment growth, as we leverage our capacity and distribution network. The growth strategy we implemented and are executing on is designed to build Farmmi's power in the market and allow us to increase our global market share."
About Farmmi, Inc.
Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is a leading agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi, and many other sought-after agricultural products. The Company's Farmmi Liangpin Market serves as a trading platform for Chinese geographical indication agricultural products and is a large platform for consumers to access locally sourced agricultural products. For further information about the Company, please visit: http://ir.farmmi.com.cn/.
Forward-Looking Statements
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including the potential impact of COVID-19 on our business within and outside of China. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update 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.
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SOURCE Farmmi, Inc.
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