NANPING, China, May 7, 2020 /PRNewswire/ -- Happiness Biotech
Group Limited (the "Company" or Nasdaq: HAPP), an innovative
China-based nutraceutical and
dietary supplements producer, announced today that as of
April 30, 2020, the Company's sales
of epidemic prevention products have exceeded RMB45 million, approximately $6.5 million.
Among the epidemic prevention products, the sales of 75% Alcohol
Disinfectant and Disposable Hand Sanitizer have reached over 9
million bottles in total, and the sales of Daily Protective Masks
have reached over 2 million pieces. Due to the increasing demand
for Disposable Hand Sanitizer both in domestic and foreign markets,
the Company has switched its focus from producing 75% Alcohol
Disinfectant to producing Disposable Hand Sanitizer since the
beginning of April 2020.
"We know that many of our investors want to know more
information about the sales of our epidemic prevention products,
and we are glad to report what we have accomplished in the past
three months. The COVID-19 has caused tremendous damage to the
economy, and our Company is also affected. However, we have been
able to recover the loss by timely transforming our manufacturing
facilities and production lines to produce epidemic prevention
products. We have also provided funding to development of more
efficient testing kits. As announced in March, we have accomplished
a breakthrough in developing testing kits for COVID-19. Although
China has changed the approval
policy for new testing kits in early April and required more
information for new applications, we are still actively
communicating with relevant government agencies and trying our best
to push it forward as soon as possible. In the meanwhile, we are
prepared for the recovered consumption from the customers for our
nutritious products, as our stores starting to re-open all over the
country." 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; the
COVID-19 outbreak and its impact on our operations 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