Farmmi Subsidiary Receives Near Perfect WCA Social Responsibility Certification Score

Rhea-AI Summary

Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Forest Food, attained a remarkable 99.5% score on a Workplace Conditions Assessment (WCA) audit. Conducted by ELEVATE Global Limited, the assessment evaluated management procedures, safety, environmental measures, and employee welfare. Chairwoman Yefang Zhang emphasized that this achievement enhances credibility with partners and customers, reflecting the company's commitment to social responsibility. The WCA certification is recognized by multinational companies as a benchmark for supply chain management.

Positive

• Achieved a 99.5% score on WCA audit, indicating excellent workplace conditions.
• Enhances credibility and competitive position among potential partners and customers.
• Demonstrates commitment to social responsibility and employee welfare.

Negative

• None.

LISHUI, China, Dec. 7, 2020 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced its subsidiary Zhejiang Forest Food Co., Ltd. ("Forest Food") received a near perfect score of 99.5% on a Workplace Conditions Assessment ("WCA") social responsibility audit of Farmmi's new factory. The third party auditor, ELEVATE Global Limited, conducted a comprehensive and systematic review of the Forest Food's management procedures, including safety, environmental, health and fire emergency through onsite inspections and employee interviews.

Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "As a leading agricultural company, environmental, health and safety are core to our business philosophy, success and happiness of our employees. This latest WCA certification, which was done in concert with one of our Canadian customers, gave Farmmi a near perfect score on the implementation of our social responsibility system, and praised the production and working environment of our new factory. Importantly, the WCA certification audit gives our partners and customers an even higher level of confidence in working with us as we focus on building meaningful, long-term relationships."

"WCA's factory inspection audit is widely relied upon by European and American multinational companies as a means to fulfill social and environmental responsibilities and manage supply chains, which has been termed the green-blue trade barrier. Obtaining WCA certificate is analogous to obtaining the supplier's pass and further enhances our competitive position."

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.

View original content:http://www.prnewswire.com/news-releases/farmmi-subsidiary-receives-near-perfect-wca-social-responsibility-certification-score-301186976.html

SOURCE Farmmi, Inc.

FAQ

What is the significance of the WCA certification for Farmmi (FAMI)?

The WCA certification enhances Farmmi's credibility with partners and customers, demonstrating the company's commitment to social and environmental responsibilities.

How did Zhejiang Forest Food score on the WCA audit?

Zhejiang Forest Food received a near-perfect score of 99.5% on the Workplace Conditions Assessment.

Who conducted the audit for Farmmi's subsidiary?

The audit was conducted by ELEVATE Global Limited.

When was the WCA audit announced by Farmmi (FAMI)?

The announcement was made on December 7, 2020.