NiSun International Enterprise Development Group Co., Ltd. - NISN STOCK NEWS

Nisun International (Nasdaq: NISN) has achieved a significant milestone in its gold trading business, generating cumulative revenue of RMB 1.75 billion (approximately USD 240 million) since January 2023. The company's subsidiaries operate within the Shenzhen Shuibei International Jewelry Trading Center, China's largest gold jewelry hub, representing over 75% of the country's gold jewelry market share.

Nisun International leverages its strategic position to provide comprehensive raw material support for both online and offline sales, offering a 'one-stop' procurement solution for clients. This approach aligns with the company's broader strategy of integrating advanced technologies across its diversified business segments, focusing on industrial digitalization and intelligent manufacturing to drive innovation and sustainable development in its supply chain trading business.

Nisun International (Nasdaq: NISN) announced that its largest shareholder, Mr. Bodang Liu, has increased his ownership in the company through open market purchases. On August 8, 9, and 19, 2024, Mr. Liu bought an additional 102,700 shares at an average price of $9.73 per share, investing approximately $999,156 in total. This purchase increased Mr. Liu's ownership from 19.36% to 21.92% of the outstanding shares.

CEO Xin Liu expressed gratitude for Mr. Liu's support and highlighted the company's strong fundamentals and current low valuation. Nisun's cash per share stands at approximately $29.0, suggesting that the market may not fully recognize the company's intrinsic value.

Nisun International (NISN) has announced a significant partnership milestone with ZTO Yunpei, a subsidiary of ZTO Express. The companies have signed a purchase agreement for egg supply, resulting in sales exceeding 500 million RMB (approximately 68.7 million USD) to date. Nisun International, capable of supplying over 20 million eggs daily, has accumulated egg sales of over 5 billion RMB (approximately 687.9 million USD).

This strategic partnership leverages ZTO Yunpei's extensive network and logistics capabilities to expand Nisun's reach in China's thriving egg market. The market is projected to reach 10.32 billion kg by 2029, with an expected revenue of US$22.50 billion in 2024. This collaboration is poised to drive significant growth for both companies, capitalizing on the increasing demand for eggs in China.

Nisun International Enterprise Development Group (Nasdaq: NISN) has successfully regained compliance with Nasdaq's periodic filing requirement under Listing Rule 5250(c)(1). The company, which offers innovative comprehensive solutions through technology, industry, and finance integration, received official notification from The Nasdaq Stock Market confirming their compliance status. This development marks the closure of the matter, ensuring Nisun's continued listing on the Nasdaq exchange.

Nisun International (Nasdaq: NISN) has secured a major corn supply of over 50,000 tons from Beidahuang Group, marking a significant expansion in its grain supply chain business. This strategic procurement, in partnership with Rugao Port Group, aims to enhance Nisun's ability to provide stable and efficient grain solutions, positioning it for robust growth in the agricultural sector.

Rugao Port Group, a National 5A Logistics Enterprise, brings significant logistical expertise to the partnership. Beidahuang Group manages over 53,600 square kilometers of land and produces over 20 billion kilograms of grain annually. Nisun International's grain business aims to establish integrated grain processing and distribution hubs in China's main grain-producing areas, contributing to global food security and agricultural development.

Nisun International reported a 65% increase in revenue for fiscal year 2023, reaching $386.7 million, up from $234.2 million in 2022. The gross profit rose to $40 million from $37 million, and net income reached $17.7 million. The company ended the year with $114.5 million in cash, equivalent to $29 per share. Earnings per share (EPS) were reported at $4.46. CEO Xin Liu emphasized the success of strategic initiatives and operational excellence for their significant growth. Despite strong financials, the stock trades at just over one times annual earnings, which the company believes undervalues it, and they are considering strategic alternatives to unlock shareholder value.

Nisun continues to enhance its supply chain trading and financing solutions, managing the supply of 3.6 to 6 million eggs daily across key regions. The company has also diversified into other agricultural products, expanding its geographical reach. Looking ahead, Nisun aims to drive further growth and capitalize on new market opportunities.

Nisun International (Nasdaq: NISN) announced a major breakthrough in its egg business. Within a year of entering the industry, the company has established a strong presence with a daily supply capacity of over 20 million eggs. This success reflects their strategic expansion into the egg supply chain, enhancing both growth and brand awareness. Key strategies driving this growth include joint procurement, centralized procurement, and partnerships with state-owned rural supply and marketing cooperatives. These methods ensure daily supplies between 3.6 and 10 million eggs. Nisun focuses on quality, profit margins, and sustainability, aiming to be a trusted provider of premium egg products and to deliver long-term value to shareholders.

Nisun International received a deficiency notice from Nasdaq on May 17, 2024, due to the company's failure to timely file its annual report on Form 20-F for the fiscal year ending December 31, 2023. This non-compliance with Nasdaq Listing Rule 5250(c)(1) requires timely financial reporting to the SEC. Although the notice does not currently affect the listing or trading of Nisun's Class A common shares, the company has 60 days to submit a compliance plan to Nasdaq. If accepted, Nisun may have until November 11, 2024, to regain compliance. The company is committed to resolving the issue promptly.

Nisun International Enterprise Development Group Co., Ltd (Nasdaq: NISN) announced its unaudited financial results for the six months ended June 30, 2023, with revenues increasing by 8% to $126.9 million from the same period of the prior year. The company's cash and cash equivalents experienced an aggregate growth of 66%, reflecting robust operational results. However, the gross profit decreased by 8% to $19.8 million due to an increase in costs of revenue, and total operating expenses increased by 31% to $8.2 million from the prior year period.