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PR Newswire

Happiness Development to Acquire Hekangyuan, One of the Largest Healthcare Product Distributors in Fuzhou Area in China

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NANPING, China, March 7, 2022 — Happiness Development Group Limited ("HAPP" or the "Company"), (NASDAQ: HAPP) an emerging and diversified company engaging in the business of production of nutraceutical and dietary supplements, providing e-commerce sales and e-commerce marketing solutions, and the sales of automobile today announced that it has signed an equity transfer agreement (the "Agreement") to acquire 100% of the equity interest in Fuzhou Hekangyuan Trading Co., Ltd. ("Hekangyuan") to further strengthen the distribution network of the Company.

Hekangyuan believes that it is one of largest healthcare product distributors in Fuzhou, China. Hekangyuan generated revenue of $17.6 million and $13.5 million, with net income of approximately $790,000 and $$579,000 for the fiscal year ended December 31, 2021 and 2020, respectively. Pursuant to the terms of the Agreement, the parties agreed that the valuation of Hekangyuan is $12 million and the Company will issue 10 million class A ordinary shares to the shareholders of Hekangyuan in addition to a cash payment of $8 million, in exchange for the 100% equity of Hekangyuan. The Company will have the right to require the Hekangyuan shareholders to purchase back the ordinary shares at a consideration of $12 million in cash if Hekangyuan is unable to reach certain performance target including a net income of $4.5 million during the next three fiscal years of 2022, 2023 and 2024.

"Hekangyuan has been known for its healthcare product distribution network in Fuzhou area and we have been in talk with them about the acquisition in the last several months. We believe after the acquisition of Hekangyuan, we will further strengthen our leading position in the field of healthcare products in Northern Fujian. At the same time, with the successful expansion of our online sales, we will also help Hekangyuan to fully utilize its advantages of supply chain management and distribution abilities," said Mr. Xuezhu Wang, CEO of the Company.

About Happiness Development Group Limited

Headquartered in Nanping, China, Happiness Development Group Limited currently has three business lines: nutraceutical and dietary supplements, e-commerce and automobile sales. 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 23 PRC National Medical Products Administration registered "Blue-Cap" SKUs of nutraceutical and dietary supplements products. Our e-commerce business focuses on offering e-commerce solutions, including advertising and information technology services to small and medium-sized enterprises in China. We also run our online stores which carries our products of dietary supplements and other selected products sourced from the small and medium-sized enterprises in China. Our mission for the e-commerce business is to enable small and medium-sized enterprises to fully leverage the power of e-commerce to grow rapidly. Our automobile sales adopts the B2B business model and is committed to optimizing the auto supply chain by connecting car dealers on our online automobile sales platform and offering the overall services for purchasing automobiles. 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 occurrence of any event, change or other circumstances that could give rise to the terms of the Agreement not hereafter being memorialized in a definitive agreement; the outcome of any legal proceedings that have been, or will be, instituted against the Company or other parties to the Agreement following announcement of the Agreement and transactions contemplated therein; the inability to complete the transactions contemplated by the Agreement due to unsatisfied closing conditions; risks that the proposed transaction disrupts current plans and operations as a result of the announcement of the Agreement and consummation of the transaction described therein; costs related to the proposed transactions contemplated by the Agreement; changes in applicable laws or regulations; and other risks and uncertainties described herein, as well as those risks and uncertainties 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.

PR Newswire

Happiness Development Announces $10 Million Private Placement to Support Its International Expansion

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NANPING, China, Jan. 21, 2022 — Happiness Development Group Limited ("HAPP" or the "Company"), (NASDAQ: HAPP) a China-based company engaging in the business of production of nutraceutical and dietary supplements, providing e-commerce sales and e-commerce marketing solutions, and the sales of automobile today announced it has entered into certain securities purchase agreement with several non-U.S. strategic investors to sell total 12,500,000 Class A ordinary shares at a per share purchase price of $0.80, with over 45% premium to the market price of its Class A ordinary shares.

The Company intends to use the gross proceeds to expand its international e-commerce sales for its current products and potential addition of new products overseas as well as for working capital and general corporate use.

"We are very grateful to these strategic investors for their support to our international expansion, especially with a premium price. We look forward the expertise and resources in the international market these investors will bring to our Company. We have successfully exported about US$2 million of Lucidum products in 2021, which gives us great confidence to expand our international sales. In 2022, we will further expand and seek development and breakthroughs in international business. At the same time, we will further increase the scope of export products and will not rule out the possibility of overseas acquisition or participation in planting and R&D of new products. As a NASDAQ listed company, we will seek to further internationalize the company and make our products accessible to people all over the world. We believe with the contribution of the strategic capital from investors, this process will be greatly accelerated," Mr. Xuezhu Wang, CEO of the Company, commented.

About Happiness Development Group Limited

Headquartered in Nanping, China, Happiness Development Group Limited currently has three business lines: nutraceutical and dietary supplements, e-commerce and automobile sales. 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 23 PRC National Medical Products Administration registered "Blue-Cap" SKUs of nutraceutical and dietary supplements products. Our e-commerce business focuses on offering e-commerce solutions, including advertising and information technology services to small and medium-sized enterprises in China. We also run our online stores which carries our products of dietary supplements and other selected products sourced from the small and medium-sized enterprises in China. Our mission for the e-commerce business is to enable small and medium-sized enterprises to fully leverage the power of e-commerce to grow rapidly. Our automobile sales adopts the B2B business model and is committed to optimizing the auto supply chain by connecting car dealers on our online automobile sales platform and offering the overall services for purchasing automobiles. 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.

PR Newswire

Reckitt and Shopee support Vietnamese in fight against pandemic with ‘Protection Starts From Within’ campaign

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Reckitt’s first multi-brand regional Super Brand Day on Shopee equips shoppers with health, hygiene, and nutrition tips along with exclusive deals

HO CHI MINH CITY, Vietnam, July 5, 2021 — Reckitt, the global leader in health, hygiene and nutrition, partners with Shopee, the leading e-commerce platform in Southeast Asia and Taiwan to launch its first "Protection Starts From Within" regional initiative held across six markets. This collaboration aims to help families better protect their health and well-being by sharing educational content and tips on health, hygiene and nutrition. It will be launched on 6-8 July as part of Reckitt’s Super Brand Day campaign in Vietnam, where shoppers can also access Reckitt’s wide portfolio of family care essentials on Shopee Mall.

Reckitt and Shopee support Vietnamese in fight against pandemic with ‘Protection Starts From Within’ campaign
Reckitt and Shopee support Vietnamese in fight against pandemic with ‘Protection Starts From Within’ campaign

As the battle with COVID-19 persists, families are still placing high importance on upholding strict hygiene standards and ensuring proper nourishment is provided for. In times like this, more are turning to brands they can trust to meet their daily needs. Based on the Kantar Brand Footprint report, brands such as Dettol by Reckitt have been chosen over 1 billion times by consumers in 2020.

To meet the growing demand for health, hygiene, and nutrition products online, Reckitt is constantly innovating to ensure that shoppers get the best experience from the brand. The brand will also educate customers about protecting and nourishing the family during Shopee Live on 8th July at 12pm. They will also share exclusive product tips and best practices for family protection through an educational microsite.

Muksitul Islam, ASEAN eCommerce Director at Reckitt, says, "We have seen the tremendous growth of our business online and are committed to serving the needs of customers. Reckitt is proud to partner Shopee in our regional Super Brand Day to reach more consumers across the region and in Vietnam. They can be assured of convenient and quick access to our entire portfolio of well-loved brands including Enfa A+, Durex, Dettol that will help meet their needs. Through Shopee’s engagement tools, our customers can also look forward to learning valuable tips on Reckitt’s products, as well as best practices through a fun and engaging way."

Ian Ho, Regional Managing Director at Shopee, says, "We understand that many people are still worried about the pandemic, and more are staying home to shop online for essentials. As part of the 7.7 Mid-Year Sale to give shoppers greater value, we’re glad to partner with Reckitt to provide a wide variety of trusted household brands delivered directly to their home. As e-commerce grows to become an integral part of life, Shopee will continue to work with globally-trusted brands like Reckitt to ensure that shoppers can get convenient access to all that they need."

From 6-8 July, Reckitt will roll out exclusive Covid-19 household protection deals on Shopee Mall, providing shoppers with the best value and deals on their entire portfolio of brands through exclusive bundle set worth 3 billion VN Dong, including:

  • Exclusive Gift with Purchase: All orders come with an exclusive gift with purchase such as T-shirts, raincoat, canvas tote bag, baby wipes or baby 2-in-1 shower gel
  • Top spender lucky prizes: Two lucky top spenders will stand a chance to win a Robot Vacuum Cleaner worth 7 million VN Dong on 8 July
  • Up to 30% off all Reckitt products: All products from Durex, Enfa and Dettol will be entitled for an attractive discount of up to 30%

    Find out more about Reckitt’s Protection Starts Within campaign here

    Download the Shopee app for free on the App Store or Google Play Store.

    About Reckitt

    Reckitt is a global leading consumer health, hygiene and nutrition company. Driven by a purpose to build healthier lives and happier homes, Reckitt has operations in over 60 countries. From the foundations of wellness and infant nutrition, to the fundamentals of a hygienic home, our global brands help people live healthier, happier lives.

    Reckitt’s unique culture is at the heart of its success. Its drive to achieve, passion to outperform and commitment to quality and scientific excellence are manifested in the work of over 40,000 Reckitt employees worldwide.

    About Shopee

    Shopee is the leading e-commerce platform in Southeast Asia & Taiwan. Shopee connects shoppers, brands and sellers across Asia and other fast-growing markets, empowering anyone to buy and sell anywhere and at any time.

    Shopee offers an easy, secure, and engaging experience that is enjoyed by millions of people daily. It offers a wide product assortment, supported by integrated payments and logistics, as well as popular entertainment features tailored for each market. Shopee is also a key contributor to the region’s digital economy with a firm commitment to helping brands and entrepreneurs succeed in e-commerce.

    Shopee is a part of Sea Limited (NYSE:SE), a leading global consumer internet company. In addition to Shopee, Sea’s other core businesses include its digital entertainment arm, Garena, and digital financial services arm, SeaMoney. Sea’s mission is to better the lives of consumers and small businesses with technology.

    PR Newswire

    Happiness Biotech Launched Beta Version Of Happy Buy International, Promoting Cross-border E-Commerce SaaS Services

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    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.

    Related Links :

    http://www.FJXFL.com

    PR Newswire

    Frost & Sullivan Shares Strategic Overview of Key Industries and Investment Opportunities in India by 2025

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    Along with industry experts from NITI Aayog and Aditya Birla Group, Frost & Sullivan will discuss India’s economic development and fastest-growing sectors

    SANTA CLARA, Calif., Feb. 19, 2021 — From a major economic crisis in 1991, India evolved to become the fastest-growing major economy in recent years. While Frost & Sullivan estimates an 8.8% contraction of its GDP for 2020-21, there are strong signs of rebound with a 10.5% expansion anticipated in 2021-22. India is expected to attain pre-pandemic GDP levels before key advanced economies in 2021, driven by factors such as a decline in COVID-19 case count, which should spur consumer and business confidence, and central bank liquidity measures.


    Join Frost & Sullivan experts Sarwant Singh, Benoy CS, Kaushik Madhavan, Amol Kotwal, Sowmya Rajagopalan and Mukund Devnani for the upcoming webinar, "India in 2025: Key Industries and Investment Growth Opportunities," on Wednesday, Feb. 24, 2021, at 4:30 PM (IST). They will be joined by industry stalwarts Anil Srivastava, Principal Consultant & Mission Director at NITI Aayog, and Mudit Agarwal, Corporate Strategy & Business Development VP at Aditya Birla Group, to discuss key economic trends impacting India by 2025, the fastest-growing segments, boldest development themes, and investment options across industries.

    For more information and to register for the webinar, please visit: http://frost.ly/58c.

    This unique webinar will provide a window to the future and insights on:

    • Indian economic development trajectory to 2025
    • Top investment opportunities and fastest-growing sectors by 2025
    • How digitization and adoption of emerging technologies across businesses are propelling India’s growth
    • Factors that are fueling the rapid expansion of the chemicals sector
    • The future of healthcare in India
    • Trends and innovations driving the food and nutrition sector
    • Expansion of smart manufacturing and job creation in the country
    • The rapidly transforming Indian mobility sector, including automotive, supply chain, and logistics
    • The major industry developments in the Indian defense sector

    This webinar will also be recorded and available on-demand at http://frost.ly/1ti.

    About Frost & Sullivan

    For six decades, Frost & Sullivan has been world-renowned for its role in helping investors, corporate leaders and governments navigate economic changes and identify disruptive technologies, Mega Trends, new business models, and companies to action, resulting in a continuous flow of growth opportunities to drive future success. Contact us: Start the discussion.

    Press Contact:
    Priya George,
    Corporate Communications
    M: +91 98403 55432; P: +91 44 6681 4414
    E: priyag@frost.com

    Related Links :

    Frost New Home page v2

    PR Newswire

    Tive Secures $12 Million Series A Capital Funding

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    Backed by RRE Ventures and Two Sigma Ventures, Tive offers real-time, in-transit location and condition insights to every part of the supply chain

    BOSTON, Dec. 16, 2020 — Tive, Inc., a leading provider of global supply chain visibility insights, announced today that it secured a $12 million Series A funding round from RRE Ventures, followed by Two Sigma Ventures, with participation from existing investors NextView Ventures, Hyperplane Ventures, One Way Ventures, Fathom Ventures, and others. The new investment will fuel Tive’s rapid growth and drive product innovation for seamless shipment tracking, alerts and analytics.

    Shipment tracking is incredibly complicated, unreliable and expensive. Tive is changing that by providing real-time visibility into the entire shipment process, including hyper-accurate location data and condition insights such as temperature, shock, light exposure and humidity. Tive’s release of the industry’s first 5G-ready single-use tracker was met with intense market interest and approval.  Customer adoption is on the rise with aggressive growth in new customers and 570% growth in annual revenue, driven in part by the delivery of the first Non-Lithium powered tracker to address the market’s concerns over Lithium-Ion safety and environmental impact.

    "The $20 trillion shipping industry is starting to expect more," said Raju Rishi, General Partner at RRE Ventures. "They are rapidly adopting Tive to gain real-time insights on their shipments, giving them a level of visibility not yet seen before in the industry as well as a new window of opportunity to actually intervene if shipments are being improperly handled. Over the four years we’ve known Krenar, we’ve seen Tive’s full-stack tracking solution be aggressively pulled into the market by a diverse customer base and we’re proud to be backing him and his team as they build a category-defining company in supply chain tracking."

    "Given the growing demand for Tive’s full line of tracking solutions, it was obvious that now was the time to dramatically expand our ability to meet industry demand," said Krenar Komoni, CEO at Tive, Inc. "Gaining the support of RRE Ventures and Two Sigma Ventures, as well as our current valued investors, means we can leverage their expertise and focus on growing our customer-centric platform. The infusion of growth capital means bringing products to market faster, enhancing our sales and marketing efforts, adding key leadership, and growing our international presence."

    About Tive
    Tive delivers real-time in-transit visibility of shipments around the globe with data-driven insights from an enterprise-class Visibility as a Service (VaaS) platform. With Tive, shippers and third-party logistics providers (3PLs) can track and monitor the location and condition of their products while in transit. Tive’s VaaS solution provides data generated by its industry-leading trackers allowing clients to proactively optimize their shipments, improve their customers’ experience, and unlock supply chain insights in an actionable real-time manner. Tive is based in Boston, MA. For more information, visit: www.tive.co

    Contact: James Waters, jim@tive.co

    Related Links :

    http://www.tive.io

    PR Newswire

    CaDi introduces Lycofertilic™ – high potency, targeted supplements with algae DHA Omega-3 to provide anti-ageing support for the ovarian reserve and to prepare for egg retrieval and IVF

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    LONDON, Oct. 23, 2020 — Cambridge Diagnostic Imaging (CaDi) is launching a new generation of targeted daily supplements, LycofertilicTM for fertility support and LycofertilicTM Prime to prepare for egg retrieval and IVF.

    The ovarian reserve and egg quality of women declines with age. This depletion is exacerbated by stress, imbalanced diet and obesity and is further deteriorated by inflammatory pathologies of the pelvic organs. These processes, even on a subclinical asymptomatic level, are amogst the main factors negatively affecting natural or artificial fertilisation processes and pregnancy.

    Lycofertilic™ has been developed by Lycotec, a company in Cambridge, UK. It is a patented complex of DHA Omega-3, Lutein and Zeaxanthin, which, due to patented technology, helps to provide anti-ageing support for the ovarian reserve in women throughout their fertility years.

    It is very important to improve the quality of the egg in its preparation for retrieval and IVF. Lycofertilic™ Prime is an increased dose of this complex developed especially to boost this process.

    Clinical trials (link below) demonstrated 250 mg of Lycofertilic™ DHA Omega 3 to be 10-16 times stronger than conventional Omega 3 supplement products and 4–5 times more powerful than Omega 3 pharmaceuticals. This superiority translates into a much more efficient reduction in markers of inflammatory damage and to a boost in peripheral tissue oxygenation and respiration. The increased bioavailability and targeted delivery reduces side effects and makes for unnecessary overconsumption of traditional Omega 3 products.

    "According to the World Health Organisation 28 million women around the world encounter fertility problems every year. This is a serious problem which we decided to help to address by launching these new innovative technology-based products. As preparation for IVF is a critical period for the fertilisation process, it is of utmost importance that women receive health products with the highest quality ingredients such as algae DHA Omega-3, and of sustainable origin too" said Alexey Shulepov, CEO of CaDi.

    A combination of Lycofertilic™ products with a personalised CaDi AI-based algorithm recommendation provides additional superior efficacy over existing Omega 3. Both Lycofertilic™ products are safe, vegan and their active ingredients are GMO-free and approved for humans.

    About CaDi and Lycofertilic™:

    http://cambridgediagnostics.co.uk – CaDi official website, online store of Lycofertilic™

    lycotec.com – medical research company, developer of technologies of Lycofertilic™ 

    https://www.ijabmr.org/article.asp?issn=2229-516X;year=2018;volume=8;issue=3;spage=148;epage=154;aulast=Petyaev – Clinical trials

    For any questions please contact – pr@cambridgediagnostics.co.uk