Welcome to our dedicated page for Farmmi news (Ticker: FAMI), a resource for investors and traders seeking the latest updates and insights on Farmmi stock.
Farmmi, Inc. (NASDAQ: FAMI) is a well-established supplier, processor, and retailer of agricultural products, specializing in edible mushrooms such as Shiitake and Mu Er, alongside other agricultural products. Founded in 1998, the company has expanded its reach by selling products both online and offline. Farmmi's offerings are known for their high quality, making them popular both within mainland China and internationally.
Recently, Farmmi announced a significant high-volume order for the UK market, half of which is for new customers. This order includes dried and sliced mushrooms, showcasing the company's growing global footprint. Farmmi's strong manufacturing, supply chain, and logistics partnerships have helped contain costs and combat inflation, thereby maintaining stable pricing for its customers. The company aims to use this momentum to further solidify its global brand and achieve profitable revenue growth.
For the six months ending March 31, 2023, Farmmi reported record revenue driven by new growth segments. This achievement came despite a challenging supply chain and logistics environment. The company’s focus on its core agricultural products, combined with new ventures into tapioca and cornstarch trading, underscores its ambition to establish a scalable platform for matching suppliers and customers.
In September 2023, Farmmi shareholders approved a one-for-eight share consolidation to regain compliance with Nasdaq listing requirements. This move is expected to help the company maintain its market presence while continuing to focus on long-term growth and value creation for its shareholders.
Farmmi has also made strides in expanding its customer base in emerging markets. The company received repeat high-volume orders for its dried Shiitake mushrooms from customers in Lebanon, Chile, Canada, and Jordan, among others. These orders highlight Farmmi's commitment to customer support and its ability to leverage local sales and distribution networks effectively.
Overall, Farmmi's robust business model, diversified product portfolio, and strategic market expansions position it well for future growth. The company's strong financial health, exemplified by a cash balance of $69.4 million as of March 31, 2023, and successful handling of operational challenges, further bolster its growth prospects.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Farmmi Biotechnology, secured a new order for dried Shiitake mushrooms, which will be exported to Dubai. Chairwoman and CEO Yefang Zhang highlighted the company's success in meeting increasing demand and executing their business strategy despite challenges. The company aims to unlock greater shareholder value while continuing its growth strategy and diversification efforts.
Farmmi, Inc. (NASDAQ: FAMI) announced a repeat order from a long-term customer for dried Shiitake mushrooms, which will be exported to Jordan. This highlights the company's strong supplier relationships and focus on agricultural products.
The Chairwoman and CEO, Yefang Zhang, noted significant progress in their Health and Wellness Business, including a landmark investment of approximately RMB 509 million (US$79.8 million), making them the second-largest shareholder of Shanghai Jiaoda Onlly Co., Ltd. This move marks Farmmi's entry into China's health industry, showcasing confidence in future revenue and profit growth.
Farmmi, Inc. (NASDAQ: FAMI) has been granted an additional 180-day compliance period by NASDAQ, allowing it until May 30, 2022, to meet the minimum bid price requirement of $1.00 per share. The company must maintain this bid price for at least ten consecutive business days to regain compliance. This extension is crucial for Farmmi as it continues to navigate challenges in the agriculture sector. The announcement highlights the importance of achieving compliance in order to avoid potential delisting from the NASDAQ.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier, announced a new order for dried black fungus from its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd. The product will be exported to Vancouver, Canada. CEO Yefang Zhang emphasized the company's ongoing growth strategy and anticipated year-over-year growth for 2021, with even better performance expected in 2022 based on customer demand. Farmmi's product line includes Shiitake mushrooms and other agricultural goods, positioning the company for success in the North American market.
Farmmi, Inc. (NASDAQ: FAMI) is showcasing its product line at the 25th Food & Hospitality China (FHC) Shanghai Global Food Trade Show from November 9-11, 2021. The event is held at the Shanghai New International Expo Centre, attracting over 127,000 visitors and 2,500+ exhibitors globally. Chairwoman and CEO Yefang Zhang emphasized the importance of trade shows in their sales growth strategy, highlighting new products like a Fortuna gift box and new mushroom varieties. The theme of the show, 'Shaping the Future of Food', aligns with Farmmi's commitment to providing healthy agricultural products.
Farmmi, Inc. (NASDAQ: FAMI) announced a new multi-product order from its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd., for dried black fungus and whole dried mushrooms, which will be exported to Vancouver, Canada. Chairwoman and CEO Yefang Zhang expressed optimism about growth in international markets, including Canada, the U.S., and Europe, highlighting factors such as improving supply chains and ongoing efficiency initiatives. The company's focus on demand from health-conscious consumers positions it for potential revenue and profit growth.
Farmmi, Inc. (NASDAQ: FAMI) has announced an agreement to acquire approximately 16% of Shanghai Jiaoda Onlly Co., Ltd. for about RMB 509 million (approximately US$79.8 million). This investment marks Farmmi's entry into the health sector, as Jiaoda Onlly is a significant player in elderly care and health food production in China. Following the acquisition, Farmmi's subsidiary, Yitang Medical, will be the second largest shareholder of Jiaoda Onlly, which generated RMB 333 million in revenue in 2020. The move aims to leverage growth opportunities in the expanding healthcare market driven by an aging population.
Farmmi, Inc. (NASDAQ: FAMI) will hold an extraordinary general meeting on December 20, 2021, at 10:00 A.M. local time. Shareholders as of November 12, 2021, at 5:30 PM ET, are eligible to vote. The Board proposes increasing the Company's authorized share capital and restructuring its Memorandum and Articles. Additionally, a staggered Board will be implemented, dividing directors into three classes with annual elections. Established in 1998, Farmmi specializes in agricultural products, particularly mushrooms, from its base in Lishui, China.
Farmmi, Inc. (NASDAQ: FAMI) recently showcased its diverse product line at a major agricultural conference held from October 23-25, 2021, in Lishui, China. The event provided a platform for the company to engage with customers and partners, highlighting its expanded business strategies and growth opportunities. Chairwoman and CEO Yefang Zhang noted the strong interest in Farmmi's offerings, including edible fungi products and new innovations like instant edible fungi. The company's robust branding and market position are seen as scalable advantages for revenue growth.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, announced an expansion of its North American sales through a new order for dried Shiitake mushrooms from a Canadian trading company. This order highlights Farmmi's focus on diversifying its geographic reach and building relationships with larger international customers. CEO Yefang Zhang expressed optimism about the long-term growth potential driven by increasing global mushroom consumption as part of a healthy diet.
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