Farmmi Receives Agricultural Products Sales Award

Rhea-AI Summary

Farmmi, a China-based agricultural products supplier, announced that its subsidiary, Zhejiang Farmmi Food Co., , has received the 'Agricultural Products Sales King' award from the Lishui municipal authority. Recognized through a rigorous selection process involving onsite visits and evaluations, this award underscores Farmmi's commitment to accelerating sales growth. CEO Yefang Zhang highlighted the company's strategic investments in infrastructure, supply chain partnerships, and warehousing systems, which are key to their success. Despite past challenges from COVID-19 and supply chain issues, Farmmi has emerged stronger, focusing on expanding its core agricultural business and exploring new growth opportunities. The company aims to play a leading role in Lishui's agriculture market by providing professional and standardized services and promoting high-quality green development in rural areas.

Positive

• Farmmi's subsidiary received the 'Agricultural Products Sales King' award.
• Significant investment in core agriculture business, infrastructure, supply chain, and warehousing.
• Active long-term customer engagements aiding in developing new customer base globally.
• Company emerged stronger post-COVID-19 and supply chain challenges, with enhanced financial position.
• Focus on expanding core agricultural business and exploring new growth opportunities.

Negative

• None.

LISHUI, China, July 2, 2024 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced the Company's subsidiary, Zhejiang Farmmi Food Co., Ltd., has received the certificate of "An Agricultural Products Sales King" awarded by the Lishui municipal authority.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are honored to receive this important award. This award is granted following a careful selection process based on onsite visits, verification and evaluations of relevant indicators. We have invested significantly in our core agriculture business, and our focus is firmly on accelerating our sales growth. We are capitalizing on our many active, long-term customer engagements to help develop new customers in our target geographic markets worldwide. A big part of our success and strategy centers on our investments in our infrastructure, supply chain partnerships and warehousing systems. We target new quality customers that will rely on Farmmi to source their products, which differentiates us from our competitors in the market. We are also increasing our marketing efforts as we more aggressively target new customers."

Ms. Yefang Zhang, continued, "Having tackled the challenges with COVID-19 and supply chain issues in the past few years, we believe Farmmi has emerged as an even stronger company, in a stronger financial position, with a far greater capacity for long-term growth. We remain focused on our business strategy, with expansion of our core agricultural business and diversification into new growth vectors. We expect to play a leading role in Lishui's agriculture product market as we provide market-oriented professional and standardized services for our agricultural products and promote high-quality, advanced green development of rural industries in Lishui City."

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. Farmmi sells its products both online and offline. For further information about the Company, please visit Farmmi's website.

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 our 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. 

For more information, please contact Investor Relations:

Farmmi, Inc.
Investor Relations
Tel: +86-0578-82612876
ir@farmmi.com

View original content:https://www.prnewswire.com/news-releases/farmmi-receives-agricultural-products-sales-award-302187902.html

SOURCE Farmmi, Inc.

FAQ

What recent award did Farmmi's subsidiary receive?

Farmmi's subsidiary, Zhejiang Farmmi Food Co., , received the 'Agricultural Products Sales King' award from the Lishui municipal authority.

What is the significance of the award received by Farmmi's subsidiary?

The award highlights Farmmi's significant investment and success in its core agricultural business, infrastructure, supply chain partnerships, and warehousing systems.

How has Farmmi addressed challenges such as COVID-19 and supply chain issues?

Farmmi has emerged stronger from these challenges with an enhanced financial position and increased capacity for long-term growth.

What strategies is Farmmi using to grow its agricultural business?

Farmmi is focusing on strategic investments in infrastructure, supply chain partnerships, warehousing systems, and aggressive marketing to attract new quality customers.

What role does Farmmi aim to play in the Lishui agriculture market?

Farmmi aims to lead by providing professional, standardized services and promoting high-quality green development in Lishui's rural industries.