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 a new sales order through its subsidiary, Zhejiang Forest Food Co., Ltd., affirming its growth in high-quality dried mushrooms. This order comes from a domestic Chinese company specializing in processing and exporting various oriental foods to over 50 countries. CEO Yefang Zhang highlighted the order as a testament to ongoing sales growth and the company’s commitment to quality and customer satisfaction. Farmmi, based in Lishui, Zhejiang, continues to bolster its position as an important player in the agricultural products market.
Farmmi, Inc. (NASDAQ: FAMI) has been granted a 180-day extension by NASDAQ to comply with the minimum bid price requirement, now effective until April 13, 2021. The company must achieve a closing bid price of $1.00 or higher for at least ten consecutive business days to regain compliance. Farmmi is a leading supplier of agricultural products in China, specializing in Shiitake mushrooms and other edible fungi. The company operates the Farmmi Liangpin Market, connecting consumers to local agricultural products.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier based in China, announced a follow-on customer order from a trading company for dried mushrooms and black fungus to be exported to Canada. This order is significant as it highlights the demand for healthier food options and farm-to-table practices. CEO Yefang Zhang emphasized the company's strategy to boost revenue and profit through investments in supply chain and food safety enhancements. The order reflects Farmmi's commitment to customer relationships and market expansion amidst growing global interest in nutritious foods.
Farmmi, Inc. (NASDAQ: FAMI), a Chinese agricultural products supplier, announced a follow-on order for dried Shiitake mushrooms from an existing international customer. This marks the eighth order from this client, who will export the mushrooms to Israel. Chairwoman and CEO Yefang Zhang highlighted the increasing demand and repeat orders, attributing growth to improved brand awareness and a robust supply chain. The Company is well-positioned in the agricultural sector, focusing on quality products and a consistent distribution network.
Farmmi, Inc. (NASDAQ: FAMI) reported its financial performance for the six months ending March 31, 2020, revealing a 5.63% decline in revenue to $13.58 million, driven by COVID-19 impacts. Shiitake sales fell by 11.98% to $7.35 million, while Mu Er sales grew 11.41% to $5.76 million. The company achieved breakeven net loss of $0.06 million, improved from a loss of $0.17 million the previous year. Gross profit decreased by 16.54% to $2.12 million. Despite lower revenues, the company maintains a healthy balance sheet with cash reserves of $5.1 million, supporting its long-term growth strategy.
Farmmi, Inc. (NASDAQ: FAMI) will exhibit at SIAL China from September 28-30, 2020, showcasing its agricultural products, especially dried mushrooms and edible fungi. SIAL China, Asia's largest food innovation exhibition, aims to foster business connections in the food and beverage sector. The company emphasizes its commitment to high-quality and ecological products, meeting consumer demands for safety and quality. The event will host over 2,200 exhibitors and expects 60,000 visitors from China and international markets, providing valuable insights into regional trends.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Forasen Food Co, LTD, has passed the BRC Global Standard for Food Safety and HACCP certification audits. This 'Double Certification' validates the company's quality management systems and enables it to maximize expanded production capacity by 20%. The certification follows a major technology transformation project initiated in July 2019, reflecting Farmmi's commitment to food safety and quality. The audits praised the company's food safety practices and management systems, supporting its sales channel development and growth.
Farmmi, Inc. (NASDAQ: FAMI) has announced that its subsidiary, Zhejiang Forest Food Co., Ltd., received a follow-on order for dried black fungus from an existing export customer. This marks the tenth order from this client, who supplies agricultural products globally, with this batch destined for Canada. Chairwoman and CEO Yefang Zhang emphasized the importance of their quality supply chain and the growing demand for their products in key markets, including the U.S. and Canada, indicating strong potential for long-term growth.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, announced its subsidiary, Farmmi Food Ltd Co., received certification from the China Standard Conformity Assessment Co., Ltd. This certification, authorized by the International Certification Alliance of Lishui Shangeng, signifies adherence to high-quality agricultural standards in the Lishui region. Farmmi's Chairwoman, Yefang Zhang, emphasized the importance of sustainability and strict quality controls, affirming that this recognition supports the company's commitment to modern agriculture and environmentally friendly practices.
Farmmi, Inc. (NASDAQ: FAMI) announced its subsidiary, Zhejiang Forest Food Co., Ltd., received a seventh follow-on order for dried Shiitake mushrooms and other products from an Israeli customer. Chairwoman and CEO Yefang Zhang highlighted the Middle East as a growth market due to increasing consumer demand for nutritious foods. Farmmi aims to leverage its supply chain to fulfill large orders and capture growth opportunities in the region. The company specializes in agricultural products, including various mushrooms, providing a platform for locally sourced goods.
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