SHANGHAI, Nov. 10,
2022 /PRNewswire/ -- Nisun International Enterprise
Development Group Co., Ltd ("Nisun" or the "Company") (Nasdaq:
NISN), a provider of innovative comprehensive solutions through an
integration of technology, industry, and finance, today announced
that the Company's wholly owned subsidiary, NiSun Ocean
(Qingdao) Supply Chain Investment
Co., Ltd, and a controlled affiliate, Fanlunke Supply Chain
Management (Shanghai) Co., Ltd,
have respectively entered into a supply chain framework agreement
with Shanghai Hanyan Communication Technology Co., Ltd. ("SHCT"), a
company engaged in the distribution of computer, communications and
consumer-electronics ("3C") products, and a related purchase and
sale framework agreement with China
Post and Telecommunications Equipment East China Co.,
Ltd.("CPTE"), a state-owned enterprise. These agreements represent
a significant initiative of the Company's supply chain business
strategy to increase its presence and explore growth opportunities
in the 3C products market.
The 3C products market has shown a significant growth potential
in China. According to Statista,
the revenue of the personal computer market in China is projected to reach US$38.13 billion in 2022. The cumulative revenue
of the telecommunications market in China was about RMB127.9 billion (approximately US$17.6 billion) in August
2022. The revenue of the consumer electronics market in
China amounts to US$251.4 billion in 2022.
These agreements were executed as part of Nisun's supply chain
trading operations. Nisun would purchase 3C products from SHCT
based on the order of CPTE and arrange for delivery of the products
to the designated locations or customers. The Company anticipates
the transaction volume under these agreements to reach RMB$200
million (approximately US$27.3
million) through 2023.
Mr. Xiaoyun Huang, Chairman and
Chief Executive Officer of Nisun, commented. "We are excited to
cooperate with SHCT and CPTE. SHCT has extensive experience in the
distribution of 3C products and has been authorized by multiple
popular first-tier 3C brands to sell their products, such as Apple,
Huawei and Xiaomi. As a state-owned enterprise, CPTE has a strong
influence in the Shanghai market.
By integrating SHCT's and CPTE's advantages and resources, we are
able to continue to improve our supply chain dynamic while
increasing our presence in the 3C products market. We believe this
initiative will optimize our supply chain ecosystem and create
long-term value for our shareholders."
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 rich industry experience, Nisun is
dedicated to providing professional supply chain solutions to
Chinese and foreign enterprises and financial institutions. Through
its subsidiaries, Nisun 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 continues to deepen the field of industry segmentation
through industrial and financial integration, by
cultivating/creating an ecosystem of openness and empowerment.
Nisun has built a linked platform that incorporates supply chain,
banking, securities, trust, insurance, funds, state-owned
enterprises, among other businesses. Focusing on industry-finance
linkages, Nisun 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-nasdaq.com/index.html.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains information about Nisun's view of
its future expectations, plans and prospects that constitute
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended, and as defined in the
U.S. Private Securities Litigation Reform Act of 1995. 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
encourages you to review other factors that may affect its future
results in Nisun's registration statement and in its other filings
with the Securities and Exchange Commission. Nisun 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
Ascent Investor Relations LLC
Tina Xiao
Email: tina.xiao@ascent-ir.com
Tel: +1 917 609 0333
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SOURCE Nisun International Enterprise Development Group Co.,
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