Farmmi Receives Government's Leading Enterprise Designation and Monetary Award

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI) has been awarded the municipal-level key agricultural leading enterprise designation by the government, along with a monetary award. This recognition was announced on January 6, 2022, emphasizing Farmmi's significant investment in the agriculture sector, which has aided local economies and created jobs. Chairwoman and CEO Yefang Zhang highlighted the company's integrated platform and resilience during COVID-19, expressing optimism for growth and diversification in the new year. Farmmi aims to enhance agricultural services and promote sustainable development in Lishui City.

Positive

• Awarded municipal-level key agricultural leading enterprise designation.
• Received a monetary award from the government.
• Significant investments in agriculture have positively impacted local economies.
• Optimistic outlook for growth and diversification in 2022.

Negative

• None.

LISHUI, China, Jan. 6, 2022 /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., received the Government's municipal-level key agricultural leading enterprise designation and monetary award. 

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are honored to receive this important Government' designation. Farmmi has invested significantly in our core agriculture business, helping to create meaningful jobs and benefitting local economies along the way, as we built out our supply chain, storage, processing and logistics capabilities. The strength of our integrated platform and track record of product excellence helped us to overcome the many COVID-19 challenges that impacted our industry and the broader global economy. We are optimistic at the start of the New Year and look forward to unlocking additional value for our shareholders. 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 as we provide market-oriented, professional and standardized services for all aspects of agricultural pre- to post-production, and promote high-quality, advanced green development of rural industries in Lishui City."

About Farmmi, Inc.

Headquartered in Lishui, Zhejiang, Farmmi, Inc. (NASDAQ: FAMI), is an agricultural products supplier, processor and retailer of Shiitake mushrooms, Mu Er mushrooms, other edible fungi and other agricultural products. For further information about the Company, please visit: http://ir.farmmi.com.cn/.

Forward-Looking Statements

This press release contains forwarding-looking statement within information about Farmmi Inc.'s views on its future expectations, plans and prospects. We remind you not to rely too much on these forward-looking statements. Due to various of factors, actual results may differ materially from the anticipated results, including but not limited to its ability to raise additional funds, maintain and develop business, variability of business performance, ability to maintain and enhance its brand, development and launch of new products and services, successful integration of acquired companies, technologies and assets into its product and service portfolio, marketing and other business development initiatives, industry competition, general government regulation, economic conditions, the impact of the novel coronavirus pneumonia, dependence on key personnel, attracting, hiring and retaining personnel with the skills and experience required to meet customer requirements, and the ability to protect their intellectual property rights. Farmmi Inc. encourages you to review other factors that may affect its future results in its registration statement and other documents submitted to the U.S. Securities and Exchange Commission. The forward-looking statements in this press release are based on current expectations, our company does not undertake the obligation to update these forward-looking statements.

View original content to download multimedia:https://www.prnewswire.com/news-releases/farmmi-receives-governments-leading-enterprise-designation-and-monetary-award-301455445.html

SOURCE Farmmi, Inc.

FAQ

What does the government designation mean for Farmmi (FAMI)?

The designation as a key agricultural leading enterprise recognizes Farmmi's contributions to the agriculture sector and may enhance its market position.

When was the government award announced for Farmmi (FAMI)?

The government award was announced on January 6, 2022.

How has Farmmi (FAMI) contributed to local economies?

Farmmi has invested significantly in its agriculture business, creating jobs and benefiting local economies.

What are Farmmi's future plans following the award?

Farmmi plans to expand its core agricultural business and diversify into new growth areas.