Nisun International Announces Strategic Cooperation with Zhumadian Industry Investment Group to Establish New Supply Chain Joint Venture in Zhumadian City

Rhea-AI Summary

Nisun International Enterprise Development Group (Nasdaq: NISN) has announced a strategic cooperation with Zhumadian Industry Investment Group to form a new joint venture named Zhumadian City Industry Investment Nisun Supply Chain Co., Ltd, with registered capital of RMB500 million. This venture aims to enhance local economic growth by linking government and enterprises. The partnership follows an earlier collaboration in Qingdao, reinforcing Nisun's strategy of integrating technology, industry, and finance to provide comprehensive supply chain solutions.

Positive

• Establishment of a new joint venture with RMB500 million in registered capital.
• Partnership with a state-owned enterprise, enhancing credibility and potential growth.
• Continued expansion of Nisun's 'government-enterprise alliance' strategy.

Negative

• None.

SHANGHAI, Nov. 8, 2021 /PRNewswire/ -- Nisun International Enterprise Development Group Co., Ltd ("Nisun" or the "Company") (Nasdaq: NISN), a provider of innovative comprehensive solutions through an integration of technology, industry, and finance, today announced that it has entered into a strategic cooperation with Zhumadian Industry Investment Group ("Zhumadian Group"), a state-owned enterprise located in south Henan Province. Under this cooperation, the two parties will establish a new company   Zhumadian City Industry Investment Nisun Supply Chain Co., Ltd with RMB500 million in registered capital. This newly established company will be serve as a link between the local government and enterprises to further growth of the local economy and small businesses.

Through this joint venture, Nisun and Zhumadian Group will work together to migrate innovative and market-oriented core resources, such as theories, concepts, experiences, practices, technology, and talent, to Zhumadian City to accelerate its development. Following our earlier partnership with Qingdao's Chengyang District, this cooperation with Zhumadian City marks another remarkable milestone for Nisun's "government-enterprise alliance" path. Nisun will continue to explore and deepen its strategic efforts to provide innovative supply chain services to enterprises.

As a state-owned enterprise, Zhumadian Group fully complies with the local government's development strategies, integrating industry, resources, and capital to comprehensively support the economic growth of Zhumadian City. With a large population, Zhumadian City is a prefecture-level city in southern Henan province. The town's principal industries are agriculture and new industry.

About Nisun International Enterprise Development Group Co., Ltd

Nisun International Enterprise Development Group Co., Ltd (NASDAQ: NISN) is a technology-driven, integrated supply chain solutions provider focused on transforming the corporate finance industry. Leveraging its rich industry experience, Nisun is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries and controlled operating affiliates, Nisun provides users with professional solutions for technology supply chain management, technology asset routing, and digital transformation of tech and finance institutions, enabling the industry to strengthen and grow. At the same time, Nisun continues to deepen the field of industry segmentation through industrial and financial integration, by cultivating/creating an ecosystem of openness and empowerment. Nisun has built a linked platform that incorporates supply chain, banking, securities, trust, insurance, funds, state-owned enterprises, among other businesses. Focusing on industry-finance linkages, Nisun aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform. For more information, please visit ir.nisun-international.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains information about Nisun's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Nisun encourages you to review other factors that may affect its future results in Nisun's registration statement and in its other filings with the Securities and Exchange Commission. Nisun assumes no obligation to update or revise its forward-looking statements as a result of new information, future events or otherwise, except as expressly required by applicable law.

Contacts

Nisun International Enterprise Development Group Co., Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com

ICR, LLC
Tel: +1 203 682 8233
Email: nisun@icrinc.com

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SOURCE Nisun International Enterprise Development Group Co., Ltd

FAQ

What is the new joint venture announced by Nisun International and Zhumadian Group?

Nisun International announced a new joint venture called Zhumadian City Industry Investment Nisun Supply Chain Co., Ltd with registered capital of RMB500 million.

What is the purpose of the strategic cooperation between Nisun and Zhumadian Group?

The cooperation aims to facilitate local economic growth by linking government and enterprises through innovative supply chain services.

When was the strategic cooperation between Nisun International and Zhumadian Group announced?

The strategic cooperation was announced on November 8, 2021.

What is the significance of Nisun's partnership with Zhumadian Group?

The partnership marks a continuation of Nisun's efforts to form government-enterprise alliances and expand their supply chain solutions.

How does the new joint venture benefit Nisun International's business?

The joint venture enhances Nisun's capability to integrate resources, technology, and expertise to support local enterprises and economic development.