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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/