HAPP Stock Price, News & Analysis

Happiness Development Group Limited (HAPP) announced a donation of RMB 200,000 in anti-epidemic materials, including disinfectants, alongside RMB 30,000 worth of vegetables, to support COVID-19 efforts in Minhang District, Shanghai. CEO Xuezhu Wang expressed the company's commitment to contribute during this challenging period. The company operates in three sectors: nutraceutical and dietary supplements, e-commerce solutions, and automobile sales, focusing on enhancing the supply chain and e-commerce capabilities for small and medium-sized enterprises in China.

Happiness Development Group Limited (HAPP) has announced a registered direct placement of approximately $6.7 million through the sale of 19.2 million Class A ordinary shares at $0.35 per share. The funds will primarily support the development of its auto business, Taochejun, alongside general corporate purposes. This financing marks the second round in a year, following previous achievements and investments in Taochejun. The offering is part of an effective shelf registration statement with the SEC.

Happiness Development Group Limited (HAPP) announced a non-binding letter of intent to acquire a 10% equity interest in Kannaba Agritech Corp. for $6 million. This strategic move positions HAPP within the rapidly expanding cannabis industry, projected to reach $102 billion by 2026. Kannaba, based in Vancouver, focuses on sustainable medical marijuana cultivation and has international licenses, including in Zimbabwe. HAPP aims to leverage its expertise in herb extraction through this partnership, enhancing its market presence in the cannabis sector.

Happiness Development Group Limited (HAPP) has secured a securities purchase agreement with non-U.S. strategic investors to sell 12,500,000 Class A ordinary shares at $0.80 each, representing a 45% premium over the market price. The proceeds will fund the expansion of international e-commerce sales and general corporate needs. In 2021, the company exported $2 million worth of Lucidum products, fueling ambitions for broader international operations in 2022. The CEO expressed optimism about utilizing investors' expertise for global reach and new product development.

Happiness Development Group Limited (NASDAQ: HAPP) reported its unaudited financial results for the six months ending September 30, 2021. Revenues surged 114.3% to $46.88 million, driven by new e-commerce and automobile sales initiatives. However, the company faced a loss from operations of $10.53 million, a significant improvement from the previous year's loss of $14.22 million. The net loss attributable to shareholders was $10.05 million compared to a net income of $3.19 million in the prior period, notably affected by COVID-19-related disruptions.

Happiness Development Group Limited (HAPP) has announced the signing of sales agreements with trading companies to export lucidum products valued at approximately $1.2 million. This follows the earlier export of products worth $0.8 million in August 2021. Since the registration of exports in April 2020, the company has made significant progress in expanding its overseas market presence. CEO Xuezhu Wang highlighted the recognition and promising potential of their lucidum products globally, aiming to leverage cultivation technology and cost advantages for future growth.

Happiness Development Group Limited (HAPP) announced a sales agreement with Shanghai Automobile Trading Co., Ltd. to purchase 1,300 MG HS vehicles at a total price of approximately RMB104 million ($16.3 million), representing a 37% discount from the retail price. This partnership highlights the company's growing distribution capabilities in the automobile sector. CEO Xuezhu Wang expressed optimism about future expansions and collaborations with major auto manufacturers. Happiness Development operates in nutraceuticals, e-commerce, and automobile sales, aiming to optimize the automotive supply chain.

Happiness Development Group Limited (HAPP) has received a notification from Nasdaq due to its Class A ordinary shares trading below the $1.00 minimum bid price for 30 consecutive business days. The company has until May 10, 2022, to regain compliance by achieving a closing bid price of at least $1.00 for 10 consecutive business days. If non-compliance persists, HAPP may qualify for an additional 180 days to rectify the issue, potentially through a reverse stock split. This notification does not immediately affect the listing status.

Happiness Biotech Group Limited (NASDAQ: HAPP) will officially change its name to Happiness Development Group Limited on November 12, 2021. Additionally, authorized ordinary shares will be re-designated into Class A and Class B shares. The majority of issued shares will be Class A, while specific shares held by CEO Xuezhu Wang will become Class B. The company is focused on expanding its business in nutraceuticals, e-commerce, and auto sales, showing optimism for future growth.