Farmmi Wins Repeat Order; Drives Sales Expansion in Western Asia
Farmmi, Inc. (NASDAQ: FAMI) announced a repeat order for its dried Shiitake mushrooms from its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd., destined for export to Jordan. CEO Yefang Zhang emphasized ongoing sales momentum, crediting repeat orders to the product's quality and ability to meet inventory demands. The company is experiencing growth through existing customer expansion and new client engagements, projecting a sustained high sales rate into 2022 due to favorable market conditions.
- Won a repeat order for dried Shiitake mushrooms, indicating strong customer satisfaction.
- Maintained necessary inventory levels to fulfill orders without delays.
- Projecting a higher sales run rate into 2022, supported by market growth and customer engagements.
- None.
LISHUI, China, Dec. 20, 2021 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agriculture products supplier in China, today announced the Company's subsidiary Zhejiang Farmmi Biotechnology Co., Ltd., won a repeat order for its dried Shiitake mushrooms. The customer will export Farmmi's products to Jordan.
Ms. Yefang Zhang, Farmmi's Chairwoman and CEO, commented, "We are not letting up on our sales push as the year comes to a close. Customers we have been working with are continuing to place repeat orders because of our mushroom's high-quality, versatility, nutritiousness and great taste. As important, we have been able to maintain inventory levels needed to fulfil orders on time, without delay or substitution. This has strengthened our customer' relationships and opened meaningful opportunities at new customers. As a result, we are benefiting from multiple catalysts – growth of the overall market, expansion at existing customers, increased engagements at new customers and a higher potential dollar content at our customers. We expect to maintain this higher sales run rate in 2022 based on the above."
About Farmmi, Inc.
Farmmi Inc. (NASDAQ: FAMI) was Established in 1998, formerly known as Zhejiang Forasen Food Co., Ltd., which is an agricultural e-commerce technology enterprise. Headquartered in Lishui, Zhejiang, 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.
For more information, please contact Investor Relations:
Global IR Partners
David Pasquale
New York Office Phone: +1-914-337-8801
FAMI@Globalirpartners.com
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SOURCE Farmmi, Inc.
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