HAPP - HAPP STOCK NEWS

Happiness Biotech Group Limited (Nasdaq: HAPP) has launched Coenzyme Q10, a product sourced from Xiamen Kingdomway Group, in its 26 experience stores across China. Coenzyme Q10 is known for its potential health benefits, including aiding conditions such as diabetes and Alzheimer's. The CEO highlighted that this addition enhances market influence and sales performance while aiming to diversify the product range. Happiness Biotech, founded to produce high-quality nutraceuticals, currently holds 32 registered nutraceutical SKUs in China.

Happiness Biotech Group Limited (Nasdaq: HAPP) announced the registration of its hand sanitizer products with the U.S. Food and Drug Administration. This marks a significant milestone for the company, as it aims to contribute to public health efforts amid the pandemic. Previously, the hand sanitizer was granted a National Product Number license in Canada, where it has been exported. The CEO, Xuezhu Wang, expressed optimism about anticipated sales in the U.S. post-registration, highlighting the company’s commitment to high-quality nutraceutical products.

Happiness Biotech Group Limited (Nasdaq: HAPP) announced a securities purchase agreement to sell 900,000 ordinary shares at $2.50 each, totaling $2.25 million. The proceeds will support the development of Happy Buy's B2B e-commerce segment and serve as working capital. CEO Xuezhu Wang expressed confidence in the strategic investors' ability to bolster Happy Buy's growth, leveraging their resources and business connections.

Happiness Biotech Group Limited (Nasdaq: HAPP) announced a cooperation agreement between its subsidiary, Happy Buy, and Hive-Box, a leading parcel machine operation company. This partnership aims to enhance Happy Buy's fulfillment capabilities through Hive-Box's 24-hour self-service platform, catering to the growing community e-commerce sector in China. Hive-Box operates the world's largest express locker system, facilitating broader exposure and marketing for Happiness Biotech's dietary supplements. This collaboration marks a strategic step for Happy Buy as it seeks to expand within the e-commerce landscape.

Happiness Biotech Group Limited (Nasdaq: HAPP) has established a wholly owned subsidiary, Happy Buy Internet Technology Co., Ltd., to enhance its e-commerce initiatives. Targeting a B2B e-commerce model, Happy Buy aims to leverage the company's supply chain and sales advantages to increase product distribution. The company highlights successful e-commerce trials during the COVID-19 pandemic, leading to a strategic shift towards this model. Management plans to recruit experienced professionals to further develop this initiative, believing it will capitalize on Happiness Biotech's brand reputation.

Happiness Biotech Group Limited (Nasdaq: HAPP) has launched a new line of personal care products under the brand 'Cai Zhi Ning', targeting the elderly market. The product range includes Ganoderma lucidum essence oil, cleansing milk, shampoo, shower gel, and nourishing cream, capitalizing on the recognized benefits of Lucidum in China. Currently, the company operates 27 experience stores near tourist attractions, with plans to expand distribution online via platforms like Pinduoduo, Taobao, and JD.com. CEO Xuezhu Wang highlighted strong growth potential in the expanding personal care sector.

Happiness Biotech Group Limited (Nasdaq: HAPP) declared a cash dividend of $0.015 per ordinary share, scheduled for payment on August 17, 2020, to shareholders on record by August 10, 2020. Despite challenges posed by COVID-19 in the last fiscal quarter, the company reported stable operating conditions and healthy cash flow. CEO Xuezhu Wang expressed optimism for increasing shareholder returns once market conditions improve post-pandemic.

Happiness Biotech Group Limited (Nasdaq: HAPP) reported FY 2020 financial results, revealing a 1.8% revenue increase to $65,061,953 compared to $63,936,185 in FY 2019. Sales of Lucidum spore powder rose 42%, constituting 43.4% of total revenue. However, operating income fell 29.5% to $15,398,717, and net income dropped 32.2% to $12.69 million, largely due to increased selling expenses related to COVID-19 impacts. The company plans to strengthen online sales channels moving forward.

Happiness Biotech Group Limited (Nasdaq: HAPP) announced the successful acquisition of a Natural Product Number (NPN) license from Health Canada for its 75% Alcohol Disposable Hand Sanitizer. This milestone permits its hand sanitizer to be legally sold in Canada, with an initial order of 53,280 bottles shipped recently. The company previously exported 150,000 masks to Canada and received a second order for 200,000 units. CEO Xuezhu Wang emphasized that obtaining the NPN license demonstrates the quality of their products and indicates future export ambitions.