Happiness Biotech Announced The Launch of Its Lucidum Tablets on DouYin Mall
Happiness Biotech Group has launched its Lucidum Tablets on DouYin Mall, marking a significant milestone as the first lucidum product on this platform. With stringent regulations in China's health product market, this launch underscores the company's commitment to quality. The company anticipates a gross margin exceeding 40% and aims to expand its product line based on market demands. CEO Xuezhu Wang expressed optimism for strong sales during the upcoming gift season, highlighting the growing trend of nutritious supplements among consumers in China.
- First lucidum product on DouYin Mall, enhancing market presence.
- Expected gross margin of over 40%, indicating strong profitability.
- Plans for product expansion in response to market demand.
- None.
NANPING, China, Sept. 10, 2021 /PRNewswire/ -- Happiness Biotech Group Limited (the "Company" or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer and e-commerce services provider, today announced one of its nutraceutical products - Lucidum Tablets, have been launched for sale on the DouYin Mall, a virtual mall built within a Douyin mini-program.
"To prevent false advertisement in the healthcare industry and prohibit defective health products from entering the market, China has set forth strict rules and scrutiny in Food Safety Law and the Advertisement Law for the online sales of health products. DouYin Mall has even stricter selection procedures for health products. Happiness was successfully and officially invited by DouYin Mall to open its store and its Lucidum Tablets is the first lucidum product to be sold on such e-commerce platform. As the new generation in China pays more and more attention to healthy lifestyle, the ready-to-eat nutritious supplements with appealing packaging, like Happiness's Lucidum Tablets, have become the new market trend. We believe the demand for nutritious supplements will continue to grow in the future.
Lucidum Tablets is our first product launched in DouYin Mall. The gross margin is expected to be over
About Happiness Biotech Group Limited
Headquartered in Nanping, China, Happiness Biotech Group Limited currently has three business lines：nutraceutical and dietary supplements, e-commerce and auto sales. The nutrition and dietary supplements business is focusing on the research, development, manufacture and marketing of various products made from Chinese herbal extracts and other ingredients. Over the past 17 years, we have established a product portfolio consisting of 23 PRC National Medical Products Administration registered "Blue-Cap" SKUs of nutraceutical and dietary supplements products. Our e-commerce business focuses on offering e-commerce solutions, including advertising and information technology services to small and medium-sized enterprises in China. We also run our online stores which carries our products of dietary supplements and other selected products sourced from the small and medium-sized enterprises in China. Our mission for the e-commerce business is to enable small and medium-sized enterprises to fully leverage the power of e-commerce to grow rapidly. Our automobile sales adopts the B2B business model and is committed to optimizing the auto supply chain by connecting car dealers on our online automobile sales platform and offering the overall services for purchasing automobiles. For more information, please visit: www.happ.org.cn
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China, the COVID-19 outbreak and its impact on our operations and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.
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SOURCE Happiness Biotech Group Limited
FAQ
What is the significance of Lucidum Tablets launched by HAPP?
What are the expected gross margins for HAPP's Lucidum Tablets?
How does HAPP plan to expand its product line?
What market trends is HAPP responding to with its new product?
When does HAPP expect to see significant sales for its Lucidum Tablets?
