NANPING, China, June 18, 2021 — Happiness Biotech Group Limited (the "Company" or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer and e-commerce services provider, announced today that the Company launched the beta version of official site of Happy Buy International https://www.happybuy.vip, mainly promoting its cross-border e-commerce SaaS services.
The SaaS system of Happy Buy opens ports for suppliers, marketing promoters and consumers respectively to meet the needs of each party at the same time. For suppliers, they can upload their own products on our platform and set up their own commission schedule for distribution to open up fission sales channels. And the marketing promoters obtain the sales reward by attracting consumers to the products links from our platform and complete the sales through various forms of marketing campaign on the Internet. Under the collaborative operation of the above two means, the products will be displayed in various forms of interaction in front of their interested consumers, and meet the practical needs of consumers in the most vertical and efficient way.
"Since the global economy has been seriously affected by COVID-19,we decided to launch the official site of Happy Buy International and introduce our cross-border e-commerce SaaS services to the world. Happy Buy is expected to provide many employment opportunities for people to start their own businesses at home. They can promote and sell products at home through live streaming, self-made video and graphic, content sharing, etc. Happy Buy also expects to expand channels for the suppliers to sell their products in the current market that has been affected by the COVID-19 pandemic.
The Company will mainly use TikTok to promote Happy Buy International. In China, the development of e-commerce has entered the era of "Interest E-commerce" led by Douyin (TikTok in China). The consumption mode of e-commerce has evolved from traditional passive search to using content to actively excavate consumption demand. With the experience on Douyin, we have strong confidence in the development of Happy Buy International on TikTok," said Mr. Xuezhu Wang, CEO of the Company.
About Happiness Biotech Group Limited
Headquartered in Nanping, China, Happiness Biotech Group Limited has two business segments: nutraceutical and dietary supplements and e-commerce. The nutrition and dietary supplements business is focusing on the research, development, manufacture and marketing of various products made from Chinese herbal extracts and other ingredients. Over the past 17 years, we have established a product portfolio consisting of 32 PRC National Medical Products Administration registered "Blue-Cap" SKUs of nutraceutical and dietary supplements products. Our e-commerce business focuses on providing e-commerce solutions and services for small and medium-sized enterprises. Our mission for the e-commerce segment is to constantly enable small and medium-sized enterprises to fully leverage the power of e-commerce to grow rapidly. 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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