Strategic Collaboration Announced for NASDAQ: NISN with Retail Chain Giant Beijing Digital Telecom to Jointly Develop Supply Chain Services in Retail Industry: Nisun Intl. (NASDAQ: NISN)
(NASDAQ:NISN) a provider of innovative comprehensive solutions through an integration of technology, industry, and finance, today announced Fanlunke Supply Chain Management (Shanghai) Co., Ltd, a subsidiary of Fintech (Shanghai) Digital Technology Co., Ltd. and a controlled affiliate of the Company, has signed a cooperation agreement with Beijing Digital Telecom Co., Ltd. (“Dixintong”) (HKEX: 06188), a subsidiary of state-owned enterprise Zhuhai Huafa Group Co., Ltd. (“Huafa Group”). The two parties will cooperate in the areas of retail supply chain management services, retail business innovation, and technological innovation.
Under this agreement, the two parties will cooperate in supply chain management services to improve the efficiency and safety of the upstream and downstream retail consumer supply chain across multiple industries. Through gradual expansion in scale, the two parties will strengthen the cooperation and bring more value to their respective shareholders.
Mr. Xiaoyun Huang, Chairman and Chief Executive Officer of Nisun International, commented: “As China continues to accelerate the construction of new development patterns from a macro perspective, its consumer market will continue moving in the direction of high-end, high-quality, and intelligence, a positive trend for 3C high-end consumption. Nisun will promote and facilitate the transformation of China’s mobile communication supply chain industry through industrial chain integration and efficiency improvement.”
Dixintong (HKEX: 06188) is China’s largest retail chain for mobile phones and accessories. It primarily operates in the retail and wholesale areas of mobile communication equipment and accessories with over a thousand directly operated and franchised stores. Over the years, Dixintong has entered into long-term strategic cooperation with major mobile phone manufacturers, suppliers and operators, while cooperating closely with major e-commerce giants such as JD.com and Alibaba.
Established in 1980, Zhuhai Huafa Group Co., Ltd. is a state-owned enterprise, operated by the Zhuhai State-owned Assets Supervision and Administration Commission. Since 2016, for five consecutive years, it has ranked among the “Top 500 Chinese Enterprises.” In 2020, it was ranked 259 and was selected as the “Double Hundred Enterprise” for the State-owned Enterprise Reform of the State Council.
– NASDAQ Listed Technology Driven Integrated Supply Chain Solutions Provider for the International Finance Industry.
– Linked Platform for Supply Chain, Banking, Securities, Trust, Insurance, Funds, State-Owned Enterprises and Other Businesses.
– Strong Financial Results in 2020 Generating $42.2 Million Revenue.
– Launched New Supply Chain Solutions Financing Business to Further Drive Overall Business Growth.
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, NISN is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions.
Through its subsidiaries, NISN 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, NISN continues to deepen the field of industry segmentation through industrial and financial integration, by cultivating/creating an ecosystem of openness and empowerment. NISN 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, NISN aims to serve the upstream and downstream of the industrial supply chain while also assisting with supply-side sub-sector reform.
NISN has an attractive share structure with only 20,555,129 shares currently outstanding.
– NISN Reports Fiscal Year 2020 Financial Results
On May 3rd NISN announced its audited financial results for the year ended December 31, 2020.
In 2020 the onset of the COVID-19 pandemic presented challenges to NISN and pushed the company to adapt and refine its business model to focus on SME financing and supply chain solutions. Amid the mergers and acquisitions and dispositions, NISN still delivered strong financial performance in the second half of 2020, as the business generated $42.2 million in revenue in the 2020 fiscal year.
Furthermore, NISN launched a new supply chain solutions financing business, which is likely to further drive overall business growth. Looking ahead to 2021, NISN remains committed to providing high-quality supply chain products and services to its clients.
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