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), based in Lishui, China, announced a new product order for its dried Shiitake mushrooms through its subsidiary, Zhejiang Forest Food Co., Ltd. The order targets export to Southwest Asia, reflecting the company's strong relationships with long-term customers and established distribution networks. Chairwoman and CEO Yefang Zhang highlighted the increasing demand for their high-quality agricultural products, citing nutritional benefits and low water requirements of mushrooms as significant factors contributing to their appeal in the market.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, announced a new product order from its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd., for dried whole Shiitake mushrooms destined for export to Lebanon. This order reflects the company's strategy to tap into developing markets and respond to increasing consumer demand for nutrient-rich products and meatless options. Chairwoman and CEO Yefang Zhang highlighted the opportunity for product shipment expansion.
Farmmi, Inc. (NASDAQ: FAMI) announced a new multi-product order from a long-term customer for its dried whole and sliced mushrooms, set for export to Vancouver, Canada. This order signifies growth in sales and profitability, driven by rising global demand for Farmmi's products. Chairwoman and CEO Yefang Zhang emphasized the company's focus on innovation and enhancing customer relationships to boost growth further.
The company is positioned for expansion, indicating optimism for 2021 and beyond.
Farmmi, Inc. (NASDAQ: FAMI) announced a new sales order for dried Shiitake mushrooms through its subsidiary Zhejiang Farmmi Biotechnology Co., Ltd. The client is a Canadian trading company focused on Asian food products. This order reflects Farmmi's ongoing international expansion strategy and growing demand for nutritious options. Chairwoman Yefang Zhang highlighted the company's competitive position, reinforced by strong supply chain relationships and efficient logistics, ensuring product freshness and quality. This marks a significant milestone in Farmmi's strategy to penetrate North American markets.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Forest Food Co., Ltd., received a multi-product order for dried mushrooms and black fungus from a long-term customer for export to the United States. CEO Yefang Zhang emphasized the company's commitment to high-quality products and expressed optimism about future growth due to investments in manufacturing and logistics. The company believes it is at an inflection point benefiting from increased scale and strong global demand, especially in culinary and traditional medicinal uses.
Farmmi, Inc. (NASDAQ: FAMI) announced a significant sales win through its subsidiary, Zhejiang Forest Food Co., Ltd., securing a multi-product order for export to Israel. The order includes dried whole and sliced Shiitake mushrooms, as well as dried black fungus. Chairwoman and CEO Yefang Zhang highlighted the company's readiness for growth after a challenging period, citing increased demand in China and worldwide, alongside ongoing capacity expansion plans. Farmmi aims for accelerated revenue and profit growth, leveraging its competitive advantages as a large-scale manufacturer.
Farmmi, Inc. (FAMI) reported significant financial growth for the six months ending March 31, 2021. Total revenues surged by 31% to $17.79 million, driven by strong sales of Shiitake and Mu Er mushrooms. Gross profit rose 41.6% to $2.99 million, while net income reached $1.36 million, compared to a net loss the previous year. The company expects this sales momentum to continue into the second half of 2021, enhancing shareholder value and supporting long-term growth.
Farmmi, Inc. (NASDAQ: FAMI), a China-based agriculture products supplier, announced a new order for dried black fungus from its subsidiary, Zhejiang Forest Food Co., Ltd. The order is intended for export to Vancouver, Canada. Chairwoman and CEO Yefang Zhang highlighted ongoing customer engagement and focused on revenue growth and expansion. The global mushroom market is projected to reach US$86.6 billion by 2025, with a CAGR of 8.3% from 2020-2025, driven by health benefits and innovations in packaging.
Farmmi, Inc. (NASDAQ: FAMI) announced a strategic investment and cooperation agreement with Sigma Holding and Hangzhou Xuyue to establish a new urban distribution company. The initiative aims to tackle the challenges in the last mile delivery of fresh food and capitalize on the booming community group purchasing market in China, projected to exceed RMB 1 trillion by 2023. The new company will initially have a registered capital of RMB 20 million, with Farmmi contributing RMB 5 million, equating to 25%. This partnership strengthens Farmmi's position in the broader agricultural supply chain.
Farmmi, Inc. (NASDAQ: FAMI), a Chinese agricultural products supplier, has announced an expansion of its international market presence. Its subsidiary, Zhejiang Forest Food Co., Ltd., secured a multi-product export order to Israel, including dried Shiitake mushrooms and black fungus. CEO Yefang Zhang emphasized the company's growth strategy, capitalizing on the booming plant-based food sector, and cited advantages from its scale and logistics. Farmmi aims to leverage market fragmentation to enhance shareholder value as it continues to achieve new sales milestones globally.
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