Farmmi Continues to Drive Growth with New Order Shipping to Egypt
Farmmi, Inc. (NASDAQ: FAMI) has announced a significant new order shipment of dried Shiitake mushrooms to Egypt, enhancing its market presence in Africa. Yefang Zhang, the Chairwoman and CEO, highlighted that Egypt represents a growth opportunity as the company capitalizes on the post-COVID-19 recovery and increasing demand for healthy diets. The company has invested in its infrastructure and supply chain, aiming to improve profitability and cash flow while diversifying its business.
- New order shipment to Egypt indicates growth potential.
- Increased interest in healthy diets aligns with product offerings.
- Investments in infrastructure and supply chain could enhance order fulfillment.
- Risk factors include ongoing COVID-19 impacts on customer disposable income.
- Dependence on foreign exchange rates may affect profitability.
- Client concentration and industry segment risks could impact revenue.
LISHUI, China, March 29, 2022 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agricultural products supplier in China, announced today that it continues to drive growth with a new order shipment to Egypt, one of Africa's largest economies. The latest order is for its dried Shiitake mushrooms.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "Egypt represents another attractive opportunity for us as we continue to drive growth by providing the high-quality agricultural products and scale customers require. Egypt is representative of the continued rebound we are seeing worldwide from COVID-19, which is also benefitting from heightened interest in healthy diets and meat alternatives. Investments we have made in our infrastructure and supply chain are allowing us to source, process and fulfill customer orders. We are focused on continuing to drive higher growth, improve profitability and build our free cash flow, as we also work to build shareholder value through the successful execution of our long-term business diversification."
About Farmmi, Inc.
Established in 1998, Farmmi Inc. (NASDAQ: FAMI) is an agricultural products supplier, processor and retailer of edible mushrooms like Shiitake and Mu Er, as well as other agricultural products. In addition to its offline sales, Farmmi sells its products direct-to-consumer at http://www.farmmi88.com. For further information about the Company, please visit: http://ir.farmmi.com.cn/.
Forward-Looking Statements
No statement made in this press release should be interpreted as an offer to purchase or sell any security. Such an offer can only be made in accordance with the Securities Act of 1933, as amended, and applicable state securities laws. Certain statements in this press release concerning our future growth prospects are forward-looking statements regarding our future business expectations and intended to qualify for the "safe harbor" under the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding lingering effects of the Covid-19 pandemic on our customers' businesses and end purchasers' disposable income, our ability to raise capital on any particular terms, fulfillment of customer orders, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, our ability to realize revenue from expanded operation and acquired assets in China, our ability to attract and retain skilled professionals, client concentration, industry segment concentration, and general economic conditions affecting our industry. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings. These filings are available at www.sec.gov. Farmmi may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company's filings with the Securities and Exchange Commission and our reports to shareholders. In addition, please note that any forward-looking statements contained herein are based on assumptions that we believe to be reasonable as of the date of this press release. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.
View original content to download multimedia:https://www.prnewswire.com/news-releases/farmmi-continues-to-drive-growth-with-new-order-shipping-to-egypt-301512665.html
SOURCE Farmmi, Inc.
FAQ
What recent shipment did Farmmi announce?
What does the new order to Egypt signify for Farmmi?
How is Farmmi addressing post-COVID-19 recovery?
What are the risks mentioned in Farmmi's press release?
What is the stock symbol for Farmmi?
