Farmmi Receives Follow-on Order for Export to the U.K.

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI) announced a follow-on customer order through its subsidiary Zhejiang Forest Food Co., Ltd. for dried mushrooms and black fungus. The order comes from a trading company supplying major hotel and supermarket chains, including the STANFORD hotel and H-MART supermarkets, for export to the UK. CEO Yefang Zhang highlighted the company's increasing sales momentum and focus on revenue growth, emphasizing the opportunity to expand market share in the fragmented healthy product industry.

Positive

• Received a follow-on customer order for dried mushrooms and black fungus for export to the UK.
• Partnership with major hotel and supermarket chains enhances brand visibility.
• CEO emphasizes increasing sales momentum and diverse customer base.
• Investments in supply chain and processing capabilities support scalable growth.

Negative

• None.

LISHUI, China, March 9, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its subsidiary Zhejiang Forest Food Co., Ltd., has received a follow-on customer order for its popular dried whole and sliced mushrooms, and dried black fungus. The customer, a trading company supplying to major global hotel and supermarket chains, including the STANFORD hotel chain and the H-MART supermarket chain, will export Farmmi's products to the United Kingdom.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are increasing sales momentum with each new order, while reinforcing the diversity of our customer base.  The investments we made in strengthening our supply chain, processing and fulfillment capabilities give us a powerful, scalable growth platform. The broader healthy product industry is highly fragmented with significant opportunities for Farmmi to grow our market share as we deliver superior products to meet increasing demand. Importantly, we are unwavering in our focus on driving revenue and profit growth, while building even greater value for shareholders."

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 and other edible fungi.  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.

View original content:http://www.prnewswire.com/news-releases/farmmi-receives-follow-on-order-for-export-to-the-uk-301242878.html

SOURCE Farmmi, Inc.

FAQ

What recent order did Farmmi (FAMI) receive?

Farmmi received a follow-on customer order for dried mushrooms and black fungus for export to the UK.

Which companies are involved in the recent Farmmi order?

The order involves a trading company supplying to major chains like the STANFORD hotel and H-MART supermarket.

What does Farmmi's CEO say about the company's growth?

CEO Yefang Zhang mentioned increasing sales momentum and opportunities to grow market share in the healthy product industry.

What products is Farmmi exporting to the UK?

Farmmi is exporting dried whole and sliced mushrooms, as well as dried black fungus to the UK.