Company Initiates Share Repurchases Under $15 Million Buyback Program
SHANGHAI, Oct. 22,
2024 /PRNewswire/ -- Nisun International
Enterprise Development Group Co., Ltd. ("Nisun International" or
the "Company") (Nasdaq: NISN), a technology and industry driven
integrated supply chain solutions provider, has signed a strategic
cooperation agreement with Beijing Tong Ren Tang Henan Traditional
Chinese Medicine Technology Development Co., Ltd., marking its
entrance into the traditional Chinese medicine (TCM) supply chain.
The partnership focuses on sourcing Cornus officinalis (Chinese
dogwood), a vital ingredient in TCM.
This cooperation highlights Nisun's commitment to entering the
TCM industry, which emphasizes stringent verification and
validation of ingredients to ensure authenticity and quality. The
partnership opens new doors for Nisun to expand into the rapidly
growing health sector, leveraging its supply chain capabilities.
TCM remains a pillar of China's
healthcare system, and the partnership provides Nisun an
opportunity to capitalize on the increasing demand for verified
health products. Looking ahead, Nisun plans to broaden its sourcing
efforts to include other essential TCM ingredients, further
establishing itself as a trusted provider in this market.
In addition to this strategic move, Nisun has also initiated
share repurchases under its recently announced $15 million buyback program. This demonstrates
the company's confidence in its long-term growth prospects and
commitment to enhancing shareholder value.
"We are excited to expand our supply chain services into the
traditional Chinese medicine industry," said Mr. Xin Liu, CEO of Nisun International. "This
partnership with Tong Ren Tang not only allows us to provide
high-quality, validated TCM products but also strengthens our
position in the health sector. We see significant growth potential
in expanding our supply chain offerings, which will drive
sustainable value for our shareholders."
By entering the TCM supply chain and beginning share
repurchases, Nisun is positioning itself for growth, ensuring
quality and transparency for consumers while enhancing returns for
investors.
About Nisun International Enterprise Development Group Co.,
Ltd.
Nisun International Enterprise Development Group Co., Ltd.
(NASDAQ: NISN) is a technology-driven, integrated supply chain
solutions provider focused on transforming the corporate finance
industry. Leveraging its industry experience, Nisun International
is dedicated to providing professional supply chain solutions to
Chinese and foreign enterprises and financial institutions. Through
its subsidiaries, Nisun International provides users with
professional solutions for technology supply chain management,
technology asset routing, and digital transformation of tech and
finance institutions, enabling the industry to strengthen and grow.
At the same time, Nisun International continues to deepen the field
of industry segmentation through industrial and financial
integration. Focusing on industry-finance linkages, Nisun
International aims to serve the upstream and downstream of the
industrial supply chain while also assisting with supply-side
sub-sector reform. For more information, please visit
http://ir.nisun-international.com/
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about
Nisun International 's view of its future
expectations, plans and prospects that constitute forward-looking
statements. Actual results may differ materially from historical
results or those indicated by these forward-looking statements as a
result of a variety of factors including, but not limited to, risks
and uncertainties associated with its ability to raise additional
funding, its ability to maintain and grow its business, variability
of operating results, its ability to maintain and enhance its
brand, its development and introduction of new products and
services, the successful integration of acquired companies,
technologies and assets into its portfolio of products and
services, marketing and other business development initiatives,
competition in the industry, general government regulation,
economic conditions, dependence on key personnel, the ability to
attract, hire and retain personnel who possess the technical skills
and experience necessary to meet the requirements of its clients,
and its ability to protect its intellectual property. Nisun
International encourages you to review other factors that may
affect its future results in Nisun International 's registration
statement and in its other filings with the Securities and Exchange
Commission. Nisun International assumes no obligation to update or
revise its forward-looking statements as a result of new
information, future events or otherwise, except as expressly
required by applicable law.
Contacts
Nisun International Enterprise Development Group Co.,
Ltd
Investor Relations
Tel: +86 (21) 2357-0055
Email: ir@cnisun.com
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SOURCE Nisun International Enterprise Development Group Co.,
Ltd