Nisun International Enterprise Development Group Co., Ltd Signs Agricultural Product Procurement Agreement with Shandong Binliang Industrial Development Co. Ltd.

Rhea-AI Summary

Nisun International Enterprise Development Group Co., Ltd (Nasdaq: NISN) has announced a wheat flour sales and purchase agreement with Shandong Binliang Industrial Development Co. Ltd. This agreement is part of Nisun's supply chain strategy to boost its presence in the Chinese wheat flour market, which has seen a growing demand due to urbanization and dietary changes. With China producing over 130 million metric tons of wheat annually, the partnership aims to enhance Nisun's competitive edge and broaden its range of agricultural products. CEO Xiaoyun Huang expressed optimism about the collaboration leading to business growth and shareholder value.

Positive

• Collaboration with Binliang expected to strengthen Nisun's market presence.
• Increase in customer base and expansion into the wheat flour market.
• Partnership likely to enhance competitive advantage in providing quality agricultural products.

Negative

• None.

SHANGHAI, March 30, 2023 /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 the Company's controlled affiliate, Fintech Supply Chain Management (Shandong) Co., Ltd., has entered into a wheat flour sales and purchase agreement ("the Agreement") with Shandong Binliang Industrial Development Co. Ltd. ("Binliang"), a company engaged in the purchase and sale of food additives, feed ingredients, grain, edible agricultural products, pre-packed food, primary agricultural products, and related storage and warehousing services. The Agreement represents a significant initiative of the Company's supply chain business strategy to increase its presence and accelerate its business growth in the market of commodity wheat flour.

The wheat flour market in China has been an essential and dynamic sector due to the country's large population and its growing demand for food. Wheat flour is a key ingredient in various traditional Chinese dishes, such as noodles, dumplings, and steamed buns, which makes it a staple food for millions of people. China is also one of the largest wheat producers in the world, with an annual output surpassing 130 million metric tons in recent years, as reported by Statista. With the increasing urbanization and changes in dietary preferences, Chinese consumers are seeking more diverse and higher-quality wheat flour products, which has led to a surge in demand for various types of flour.

The Agreement was executed as part of Nisun's supply chain trading operations. Based on the orders placed by supply chain customers, Nisun would inform Binliang of the purchased quantity, delivery date, and other requirements one day in advance and pay the full amount for the goods within three business days of receiving the delivery note.

Mr. Xiaoyun Huang, Chief Executive Officer of Nisun, commented. "We are delighted to enter into the sales and purchase agreement with Binliang. The collaboration is expected to significantly bolster our business footprint and drive the exploration of new expansion in the wheat flour market. We believe that this partnership will provide us with a competitive advantage and allow us to offer our customers an even wider range of quality agricultural products and services. Looking forward, we are confident to continue expanding our customer base, strengthening our position in the market, , and yielding increased value for our shareholders."

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, 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 http://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

Ascent Investor Relations LLC
Tina Xiao
Tel: +1 (917) 609 0333
Email: tina.xiao@ascent-ir.com 

 

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SOURCE Nisun International Enterprise Development Group Co., Ltd

FAQ

What is the recent agreement announced by Nisun (NISN)?

Nisun signed a wheat flour sales and purchase agreement with Shandong Binliang Industrial Development Co. Ltd.

How does Nisun's new agreement impact its business growth?

The agreement is expected to significantly enhance Nisun's business presence and market growth in the wheat flour sector.

What market is Nisun targeting with its wheat flour agreement?

Nisun is targeting the Chinese wheat flour market, which is seeing increased demand due to urbanization and changing dietary preferences.

What are the expected benefits of the partnership for Nisun (NISN) shareholders?

The partnership may drive business growth, expand the customer base, and increase shareholder value.

What does the wheat flour market in China look like?

China is one of the largest wheat producers, with over 130 million metric tons produced annually, indicating a robust demand for wheat flour products.