Farmmi Named a China Mushroom Industry Boom Observation Unit

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI), an agriculture products supplier based in China, has been recognized as a China Mushroom Industry Boom Observation Unit by the China Edible Fungi Association. The announcement was made during the launch meeting for the 14th five-year development plan for China's mushroom industry, where Farmmi's Chairwoman and CEO, Yefang Zhang, also serves as the vice president of the shiitake branch. Zhang emphasized the company's commitment to enhancing the mushroom industry and creating growth opportunities for Farmmi.

Positive

• Farmmi named a China Mushroom Industry Boom Observation Unit, enhancing its industry profile.
• Participation in the 14th five-year development plan for the mushroom industry aligns with Farmmi's strategic growth objectives.

Negative

• None.

LISHUI, China, Nov. 13, 2020 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced that at the recent first meeting of the third session of the shiitake branch (the "Branch") of the China Edible Fungi Association ("the Association"), the Company was named a China Mushroom Industry Boom Observation Unit. Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, represented the Company at the meeting and also served as the vice president of the Branch. Held in Xixia County, Henan Province, this meeting also served as the launch meeting of the 14th five-year development plan of China's mushroom industry (the "14th Five-year Plan").

Established in 1987, the Association is a national, non-profit organization focused on the production, processing and distribution of edible fungi, including medicinal fungi, and related industries. The Association is dedicated to expanding scientific research and education, professional advancement, and local organizations, among other activities.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are proud to have participated in an important research project to encourage the high quality development of the mushroom industry in the 14th Five-year Plan. This is directly in-line with our corporate focus and goal of strengthening the mushroom industry, better serving farmers and working to build a strong international brand. By jointly promoting the high quality development of mushroom industry in China, we are at the same time increasing Farmmi's growth opportunities and path to long-term success."

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.

FAQ

What does it mean for Farmmi to be named a China Mushroom Industry Boom Observation Unit?

It signifies Farmmi's recognition as a key player in the mushroom industry, potentially enhancing its market position and opportunities.

How does the 14th five-year development plan affect Farmmi?

The plan focuses on high-quality development in the mushroom industry, aligning with Farmmi's growth strategy and potentially opening up new growth avenues.

What role does Yefang Zhang play in the China Edible Fungi Association?

Yefang Zhang serves as the vice president of the shiitake branch of the China Edible Fungi Association, demonstrating leadership and influence in the industry.

How is Farmmi positioned in the agriculture market?

Farmmi is a leading supplier and retailer of various edible fungi, including shiitake mushrooms, and seeks to build a strong international brand.