SHANGHAI, Sept. 3, 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, is proud to announce a significant milestone in its gold trading business. Through its subsidiaries, Nisun International has achieved cumulative revenue exceeding RMB 1.75 billion (approximately USD 240 million) in the centralized procurement, retail, and wholesale of gold products since the business started in January 2023. This achievement underscores the Company's strategic expansion and growing presence in the gold supply chain trading sector.
"We are thrilled to reach this milestone, which reflects the effectiveness of our strategic approach to diversifying our business and enhancing our supply chain capabilities," said Mr. Xin Liu, CEO of Nisun International. "Our success in the gold market demonstrates our ability to identify and capitalize on growth opportunities within the commodity supply chain sector. This accomplishment is a testament to our team's hard work and commitment to driving sustainable growth."
Nisun International's subsidiaries have strategically positioned themselves within the Shenzhen Shuibei International Jewelry Trading Center, the largest and most comprehensive gold jewelry hub in China. This center is a vital marketplace, representing over 75% of China's gold jewelry market share and serving as a barometer for the industry. By leveraging its presence in this key market, Nisun International provides extensive raw material support for both online and offline sales of its cooperative enterprises, enhancing its ability to meet diverse customer needs with efficiency and scale.
Nisun International's engagement at the Shenzhen Shuibei International Jewelry Exchange Center allows the Company to fully exploit its capabilities as a professional trading platform, offering a "one-stop" procurement solution for clients. This approach not only meets the procurement needs of customers efficiently but also provides substantial economies of scale, ensuring Nisun International remains a competitive force in the gold market.
The Company's growth in the gold sector is aligned with its broader strategy of integrating advanced technologies, such as industrial digitalization and intelligent manufacturing, across its diversified business segments. Nisun International is committed to optimizing its cooperation mechanisms and resource allocation to drive innovation and sustainable development in its supply chain trading business.
"Our achievements in the gold market are a reflection of our strategic initiatives aimed at enhancing our supply chain operations and expanding our portfolio," added Mr. Liu. "By focusing on innovation and market integration, we continue to explore new avenues for growth, ultimately delivering greater value to our shareholders."
As Nisun International continues to strengthen its foothold in the gold market, the Company remains dedicated to exploring further opportunities within the commodity supply chain sector, reinforcing its commitment to innovation, excellence, and market leadership.
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/
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 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
