HAPP Stock Price, News & Analysis

Happiness Biotech Group Limited (Nasdaq: HAPP) announced a significant deal with Guang'an Ruili Trading Co., Ltd for the purchase of 1,350 Bestune B30 EV 400 vehicles, totaling approximately RMB 95 million ($14.7 million). This transaction follows a successful previous collaboration with Ruili, strengthening their long-term partnership. CEO Xuezhu Wang expressed confidence in the distribution capacity after recent integration efforts, highlighting pre-sale orders for most vehicles, aiming for swift sales completion.

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.

Happiness Biotech Group Limited (HAPP) reported a 9.9% revenue increase year-over-year for the fiscal year ended March 31, 2021, totaling $71.48 million. However, sales from healthcare products plummeted 30.2% to $45.39 million, attributed to COVID-19 impacts. General and administrative expenses surged 44.5% to $5.03 million. Net income dropped significantly to $691,956, or $0.03 per share, down from $12.69 million or $0.53 per share the previous year. The company is shifting focus to e-commerce and automobile sales, closing 10 experience stores due to poor performance.

Happiness Biotech Group Limited (Nasdaq: HAPP) has entered into a securities purchase agreement with non-U.S. strategic investors for a registered direct placement valued at approximately $2.16 million. The Company will sell 1.24 million ordinary shares at $1.74 per share, a 7.4% premium over the closing price on June 24, 2021. The proceeds will support the development of its auto business, 'Taochejun,' and for general corporate purposes. This offering is made under an effective shelf registration statement filed with the SEC.

Happiness Biotech Group Limited (Nasdaq: HAPP) announced the beta launch of Happy Buy International, a cross-border e-commerce SaaS platform aimed at connecting suppliers, marketing promoters, and consumers. This initiative is partly in response to the economic challenges posed by COVID-19, offering new employment opportunities and business prospects through digital marketing channels like TikTok. The Company aims to leverage the growing trend of interest e-commerce, utilizing its experience to engage consumers effectively. Happiness Biotech's dual focus includes nutraceuticals and e-commerce solutions for SMEs.

Happiness Biotech Group Limited (Nasdaq: HAPP) has announced an agreement through its subsidiary, Taochejun, with Guang'an Ruili Trading Co., Ltd to purchase and sell 1213 Volkswagen "e-Bora" electric vehicles, valued at approximately RMB90.12 million (around $14.10 million). This collaboration aims to enhance Taochejun's vehicle offerings and customer base by providing competitively priced electric vehicles. The company continues to expand its operations leveraging partnerships with major auto trading firms.

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.