HAPP - HAPP STOCK NEWS

Happiness Biotech Group Limited (Nasdaq: HAPP) announced a distribution agreement between its subsidiary, Taochejun, and Zhejiang Fengsheng Automobile Sales Co., Ltd. (Maple Auto), a subsidiary of Geely Technology Group. Taochejun will serve as the sales agent for the 'Maple 80V' in Ningbo and Hangzhou, with a sales target of 200 vehicles by December 31, 2021. The upgrade from Happy Auto to Taochejun aims to strengthen the company's presence in the new energy vehicle market. The partnership is expected to leverage Geely's technical support and boost sales.

Happiness Biotech Group Limited (Nasdaq: HAPP) has launched its cross-border e-commerce platform, Happy Buy International, as of April 15, 2021. The platform will feature independent online stores targeting various markets and customer groups. The initial five stores cater to the German market and global customers, offering diverse products. The Company aims to enhance synergies between its supply chain and online traffic through tailored promotions on platforms like Facebook and Google. This initiative represents a significant move to expand its e-commerce operations.

Happiness Biotech Group Limited (Nasdaq: HAPP) reported record e-commerce sales exceeding $14 million in March 2021, the highest monthly sales since launching its e-commerce division in September 2020. Happy Buy achieved over $11.8 million in sales, surpassing expectations of $8-$10 million. The e-commerce segment has generated over $28 million in six months, a 30% increase compared to the total revenue of $21.88 million for the half-year ending September 30, 2020. The company plans to expand into cross-border e-commerce and enhance marketing efforts.

Happiness Biotech Group Limited (HAPP) reported sales exceeding $5 million for its e-commerce subsidiary, Happy Buy, in January 2021, maintaining stability despite challenges from the COVID-19 epidemic and seasonal factors. CEO Xuezhu Wang highlighted an optimistic outlook, projecting sales between $8 million and $10 million for March, marking a potential increase of 60% to 100%. Additionally, the newly launched Happy Auto platform has secured over $5 million in potential orders, primarily in new energy vehicles, reinforcing the company's growth strategy.

Happiness Biotech Group Limited (HAPP) announced the official launch of its B2B auto sales platform, "Happy Auto," after a successful trial period that yielded approximately $1 million in sales over three months. Jointly established with local car dealers, Happy Auto aims to tackle overcapacity in China's automobile market by redistributing inventory to lower-tier cities. The CEO expressed confidence in the platform's growth, leveraging the experiences from their first successful venture, Happy Buy.

Happiness Biotech Group Limited (Nasdaq: HAPP) reported a 30.2% decrease in revenue to $21.88 million for the six months ended September 30, 2020, down from $31.36 million in the previous year. Operating income fell by 62.4% to $3.69 million, and net income dropped to $3.18 million from $8.42 million. The decline was attributed to the COVID-19 pandemic's impact on the retail market. Despite these challenges, the company launched its e-commerce business in September 2020 and aims for a revenue target of $70 million for the fiscal year ending March 31, 2021.

Happiness Biotech Group Limited (HAPP), a China-based nutraceutical producer, reported a significant milestone with its subsidiary, Happy Buy, achieving over 70% growth in December 2020 compared to November, totaling $5.5 million in sales. This growth is attributed to the team's efforts and newly attracted e-commerce investors. The Company also anticipates launching Happy Buy International by April 2021, expanding access to its products for overseas consumers. The company has a diverse portfolio of registered nutraceutical products in China.

Happiness Biotech Group Limited (Nasdaq: HAPP) has entered a securities purchase agreement for a registered direct placement with non-U.S. strategic investors, planning to issue up to 4.2 million ordinary shares. The expected gross proceeds from this offering could reach approximately $7 million based on current trading levels. Proceeds will support the growth of its subsidiary Happy Buy, focusing on social e-commerce and digital marketing. This transaction aims to enhance the company’s market position and capitalize on the e-commerce industry's potential.

Happiness Biotech Group Limited (HAPP) announced that its subsidiary, Happy Buy, has received an 80% tax rebate from the Shunchang County Government in Fujian Province, China. This incentive, which includes local value-added tax and corporate income tax, is part of a broader initiative to support technology industries. Happy Buy achieved e-commerce sales exceeding $3 million since November 2020, with expectations to reach $20 million by the fiscal year-end on March 31, 2021. The company aims to expand its operations significantly with this financial boost.