Huadi International Group Co., Ltd. Awarded $3.26 Million Stainless Steel Seamless Pipe Order Contracts from a U.S. Client

Rhea-AI Summary

Huadi International Group Co., Ltd. (NASDAQ: HUDI) has secured stainless steel seamless pipe contracts valued at $3.26 million from a major U.S. manufacturer. The contracts involve supplying square-cut and beveled seamless or electric-fusion-welded austenitic stainless steel pipes. Mr. Di Wang, Chairman of HUDI, expressed optimism regarding these contracts, indicating the potential for enhanced relationships with existing and prospective clients. The company is recognized for its extensive distribution of products across twenty countries and its commitment to quality in industrial pipes manufacturing.

Positive

• Secured contracts worth $3.26 million, indicating strong demand.
• Reinforces relationships with long-term partners in the industry.

Negative

• None.

Wenzhou, China, Nov. 01, 2021 (GLOBE NEWSWIRE) -- Huadi International Group Co., Ltd. (“HUDI” or the “Company”) (NASDAQ: HUDI), a leading developer and manufacturer of industrial stainless steel seamless pipes and tubes products in China, today announces that the Company was recently awarded stainless steel seamless pipe order contracts worth $3.26 million in total.

Pursuant to the contracts, HUDI will supply square-cut and beveled seamless or electric-fusion-welded austenitic stainless steel pipes with a total value of $3.26 million to a U.S. headquartered global leader in the manufacturing and distribution of critical application fittings, flanges pipe and related products.

Mr. Di Wang, Chairman of the Company, commented: “These new contracts are exciting news for us as we continue to supply high standard products to our long-term partners both domestically and internationally. Leveraging our expertise and proficiency in industrial pipes manufacturing, we expect that our relationships with existing and prospect clients will become even better developed as we expand our operation with dedication to precision and quality, which makes us the perfect partner to support our global clients’ needs.”

About Huadi International Group Co., Ltd.

Huadi International Group Co., Ltd. is a leading manufacturer of industrial stainless steel seamless pipes and tubes products with extensive distribution facilities and network for over twenty provinces in China. It also has a big presence across international steel pipes industry, offering a broad range of products exported to twenty countries and regions such as United States, Mexico, Thailand, Australia, Argentina, Taiwan, India, the Philippines, UAE and Canada. Its products are widely used in the oil & gas transmission, chemistry engineering, food processing, medical devices, aeronautics and astronautics, boiler, irrigation works construction, electricity, automobile, naval architecture, paper mill and mechanical industries. For more information about the Company, please visit: http://www.huadi.cc. 

Forward-Looking Statement

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.  Specifically, the Company’s statements regarding trading on the NASDAQ Capital Market and closing the initial public offering are 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; financial condition and results of operations; product and service demand and acceptance; reputation and brand; the impact of competition and pricing; changes in technology; government regulations; fluctuations in general economic and business conditions in China and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC.  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 SEC, 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.

For more information, please contact:

The Company:

IR Department

Email: IR@huadigroup.com

Investor Relations:

Dong Cao, CFA  

EverGreen Consulting Inc.

Email: IR@changqingconsulting.com

Phone: +86 13502048965

FAQ

What contracts did Huadi International Group Co., Ltd. recently secure?

Huadi International Group Co., Ltd. announced contracts valued at $3.26 million for stainless steel seamless pipes.

What is the significance of the $3.26 million contracts for HUDI?

The contracts signify strong demand and potential growth for HUDI, enhancing its market presence.

Which products will HUDI supply under the new contracts?

HUDI will supply square-cut and beveled seamless or electric-fusion-welded austenitic stainless steel pipes.

Who is the U.S. client for HUDI's recent contracts?

The U.S. client is a global leader in manufacturing and distributing critical application fittings and related products.