NextPlat to Showcase OPKO Healthcare Products at the 2024 China International Natural Health & Nutrition Expo

Rhea-AI Summary

NextPlat Corp (NASDAQ: NXPL) announced its participation in the 2024 China International Natural Health & Nutrition Expo (NHNE), showcasing OPKO Healthcare products, including new veterinary care items. The expo, Asia's largest health and nutrition tradeshow, will host 1,200 suppliers and attract 120,000 buyers. NextPlat has been invited by the U.S. Consulate General in Wuhan to present OPKO products to selected Chinese buyers. The company is expanding its presence in China through new online storefronts on WeChat and JD.com, while planning physical distribution in retail chains during 2025. Recent weeks have shown increased demand for OPKO products in China following enhanced promotional activities.

Positive

• Expanding market presence in China through major platforms WeChat (1.3B monthly users) and JD.com (560M annual users)
• Significant increase in product demand following recent promotional activities
• Plans for physical distribution in major retail chains, pharmacies, and grocery stores by 2025

Negative

• None.

Insights

Market Research Analyst

This news about NextPlat's participation in the China International Natural Health & Nutrition Expo represents a strategic but early-stage market entry effort. While the expo provides access to 120,000 omnichannel buyers and the company is launching on major platforms like WeChat (with 1.3 billion monthly users), several factors temper the immediate impact: The initiative is still in its early phases, actual sales figures or projections aren't provided and physical retail distribution isn't expected until 2025. The mention of "significant increase" in demand lacks specific metrics. The U.S. Consulate invitation adds credibility but doesn't guarantee commercial success. For a company with a $26.3M market cap, China's market potential is significant, but execution risks and timeline to meaningful revenue remain uncertain.

OPKO Healthcare's Veterinary Care Products to be Introduced at Asia's Largest Health and Nutrition Tradeshow

Company Invited to Present at Special Event Hosted by U.S. Consulate General During the Expo

COCONUT GROVE, Fla., Nov. 18, 2024 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-commerce provider, today announced that it is participating in the 2024 China International Natural Health & Nutrition Expo (NHNE), Asia's largest exhibition focused on the sales and marketing of health, nutrition and dietary supplement products, as the Company continues to ramp-up sales and promotional activities in China.

Held at the Wuhan International Expo Center from November 20^th to the 22^nd, the China International Natural Health & Nutrition Expo is the premier exhibition focused on health, nutrition and dietary supplements. The bi-annual event is the largest of its kind in Asia with 1,200 suppliers from more than 30 countries and regions, attracting as many as 120,000 omnichannel buyers. At the event, an expanded array of products from OPKO Health Europe, a unit of OPKO Health, Inc. (NASDAQ: OPK) (OPKO), including an initial selection of veterinary and animal care products will be on display for attendees.

Additionally, NextPlat has also been invited by the U.S. Consulate General in Wuhan to present OPKO products during the NHNE expo to a specially selected group of Chinese buyers interested in U.S. healthcare products.

"Over the past few weeks, with the support of our in-country marketing and sales partner, we have seen demand for our OPKO products significantly increase as we ramp-up online and offline promotional activity. Through participation in NHNE, we have access to thousands of potential new retail and distribution partners making it the ideal venue for us to introduce OPKO's animal health products," said David Phipps, President of NextPlat and CEO of Global Operations. "Based upon strong interest in our initial product offerings, through increased inventory, and the introduction of new products for health, wellness and pets, we are confident in the significant sales potential we see in China."

As announced earlier this year, the Company has begun the sales of OPKO products in China and supported by a new in-country marketing partner, has recently engaged Chinese social media influencers and conducted experiential marketing programs. The Company is currently in the process of launching new online OPKO storefronts on leading digital sites in China including WeChat which has over 1.3 billion monthly users, and on JD.com, China's second largest e-commerce platform which attracts in excess of 560 million users annually. Additionally, the Company is seeking to secure physical distribution of OPKO products into major retail chains, pharmacies and grocery stores during 2025.

OPKO is a global diversified diagnostic and pharmaceutical healthcare company with over 5,500 employees spanning nine countries. The distribution agreement with OPKO's European division represents the first relationship resulting from the Company's Florida E-commerce Development program which includes a merchant sourcing agreement with Alibaba's Tmall Global designed to provide American businesses with easy access to the Chinese consumer market.

About NextPlat Corp

NextPlat is a global e-commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the Company intends to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-commerce presence and revenue. NextPlat currently operates an e-commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care LLC.

Forward-Looking Statements

Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services, or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch new data-driven tools and services and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.

Media and Investor Contact for NextPlat Corp:

Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net

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SOURCE NextPlat Corp.

FAQ

What products will NextPlat (NXPL) showcase at the 2024 China International Natural Health & Nutrition Expo?

NextPlat will showcase OPKO Healthcare products, including an initial selection of veterinary and animal care products.

How many buyers and suppliers are expected at the 2024 NHNE where NextPlat (NXPL) is participating?

The expo will feature 1,200 suppliers from over 30 countries and regions, attracting approximately 120,000 omnichannel buyers.

Which major Chinese platforms will NextPlat (NXPL) use to sell OPKO products?

NextPlat is launching OPKO storefronts on WeChat (1.3 billion monthly users) and JD.com (560 million annual users).