NANPING, China, Jan. 28, 2020 /PRNewswire/ -- Happiness Biotech
Group Limited (the "Company" or Nasdaq: HAPP), an innovative
China-based nutraceutical and
dietary supplements producer, announced today that the sales of its
Cordyceps mycelia products surged over 100% in January due to the
outbreak of the Wuhan Coronavirus.
As of January 27, 2020, revenue
from Cordyceps mycelia products has reached over RMB 8 million (approximately USD 1.2 million), 100% higher than December 2019 and 125% higher than November 2019.
Starting from the end of December
2019, China has seen
massive outbreaks of the new coronavirus. The demand for products
that targeting people with weak immune system has been stronger
than ever. The Company obtained the approval for Cordyceps Mycelia
Oral Liquid from the China Food and Drug Administration ("CFDA")
back in 1997, being among one of the first companies to receive
this approval. According to the results of clinical evaluation,
Cordyceps Mycelia Oral Liquid regulates humoral and cellular
immunity and improves phagocytosis of macrophages, thus improving
body resistance and preventing disease. Such clinical evaluation
results were approved by CFDA to be included in Cordyceps Mycelia
Oral Liquid's product description.
"Since the outbreak of Wuhan
coronavirus, the demand for our Cordyceps Mycelia Oral Liquid and
other nutritional products has increased dramatically. As a public
company and being aware of these demands, we feel it is our
responsibility to contribute and respond to people's needs in a
time when everyone is doing everything in their power to reduce the
impact of this disease. We have requested that our employees
continue manufacturing even amidst the Chinese New Year's
celebrations. We anticipate the demand will continue to increase
over the next several months before the coronavirus is fully under
control. We are prepared to increase the production capacity at any
moment, if necessary," said Mr. Xuezhu
Wang, CEO of the Company.
About Happiness Biotech Group Limited.
Headquartered in Nanping, China,
Happiness Biotech Group Limited is an innovative China-based nutraceutical and dietary
supplements producer focused on the research, development,
manufacturing and marketing of a variety of products made from
Chinese herbal extracts and other ingredients. The Company's goal
is to provide high-quality products to our consumers. Over the past
14 years, the Company has established a product portfolio
consisting of 32 CFDA registered "Blue-Cap" SKUs of nutraceutical
and dietary supplements products. For more information, please
visit: www.happ.org.cn.
Forward-Looking Statements
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.
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; product and service demand
and acceptance; changes in technology; economic conditions;
reputation and brand; the impact of competition and pricing;
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 Securities
and Exchange Commission. 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 U.S.
Securities and Exchange Commission, 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.
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SOURCE Happiness Biotech Group Limited