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Farmmi, Inc. reports developments in agricultural product supply, edible fungi distribution, and logistics services. The company focuses on shiitake mushrooms, wood ear mushrooms, other edible fungi, and agricultural products distributed through established channels to global markets.
Recurring news for FAMI includes U.S. warehouse expansion, food facility registration and other operating permits for logistics subsidiaries, customer and service activity at SuppChains Group and Farmmi USA, and the development of Bluesage Marketing for AI-driven digital marketing services. Company updates also include Nasdaq listing compliance and other corporate actions tied to its public-company status.
Farmmi, Inc. (NASDAQ: FAMI) has announced an agreement to acquire approximately 16% of Shanghai Jiaoda Onlly Co., Ltd. for about RMB 509 million (approximately US$79.8 million). This investment marks Farmmi's entry into the health sector, as Jiaoda Onlly is a significant player in elderly care and health food production in China. Following the acquisition, Farmmi's subsidiary, Yitang Medical, will be the second largest shareholder of Jiaoda Onlly, which generated RMB 333 million in revenue in 2020. The move aims to leverage growth opportunities in the expanding healthcare market driven by an aging population.
Farmmi, Inc. (NASDAQ: FAMI) will hold an extraordinary general meeting on December 20, 2021, at 10:00 A.M. local time. Shareholders as of November 12, 2021, at 5:30 PM ET, are eligible to vote. The Board proposes increasing the Company's authorized share capital and restructuring its Memorandum and Articles. Additionally, a staggered Board will be implemented, dividing directors into three classes with annual elections. Established in 1998, Farmmi specializes in agricultural products, particularly mushrooms, from its base in Lishui, China.
Farmmi, Inc. (NASDAQ: FAMI) recently showcased its diverse product line at a major agricultural conference held from October 23-25, 2021, in Lishui, China. The event provided a platform for the company to engage with customers and partners, highlighting its expanded business strategies and growth opportunities. Chairwoman and CEO Yefang Zhang noted the strong interest in Farmmi's offerings, including edible fungi products and new innovations like instant edible fungi. The company's robust branding and market position are seen as scalable advantages for revenue growth.
Farmmi, Inc. (NASDAQ: FAMI), an agricultural products supplier in China, announced an expansion of its North American sales through a new order for dried Shiitake mushrooms from a Canadian trading company. This order highlights Farmmi's focus on diversifying its geographic reach and building relationships with larger international customers. CEO Yefang Zhang expressed optimism about the long-term growth potential driven by increasing global mushroom consumption as part of a healthy diet.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd., has received certifications for compliance with the BRC Global Standard for Food Safety and the HACCP system. These certifications validate the company's commitment to food safety and enhance its credibility among international buyers. Chairwoman Yefang Zhang highlighted the importance of compliance in business operations following a thorough audit, which assessed the company's safety management and product oversight.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiaries, Zhejiang Farmmi Biotechnology Co., Ltd. and Zhejiang Farmmi Food Co., Ltd., have received the Lishui ShanGeng international certification. This certification reinforces Farmmi's competitive advantage by confirming the high quality of its health and wellness food products. The certification, issued by the Lishui City ecological agriculture association, meets strict standards for organic cultivation and pollution-free products. Chairwoman and CEO Yefang Zhang expressed pride in this achievement, emphasizing the company's commitment to providing green and safe agricultural products.
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Farmmi (NASDAQ: FAMI) announced a CEO update detailing an acquisition aimed at expanding its market presence. The company will acquire Jiangxi Xiangbo Agriculture and Forestry Development Co. for approximately RMB 70 million. This acquisition enhances Farmmi's forest-related business, focusing on bamboo, camellia oil, and Chinese fir trees. Additionally, the company is launching four new subsidiaries in the health and wellness sector to address the increasing demand for healthy food and elderly care. These strategic moves are projected to drive revenue and profit growth, enhancing shareholder value.
Farmmi, Inc. (NASDAQ: FAMI) announced that its subsidiary, Zhejiang Forest Food Co., Ltd., secured a new multi-product order for export to Israel. This order includes dried whole and sliced Shiitake mushrooms, as well as dried black fungus. CEO Yefang Zhang highlighted strong demand in both traditional and new markets, while emphasizing the company’s robust financial position and commitment to increasing shareholder value.
Farmmi, Inc. (NASDAQ: FAMI) recently announced a new product order for its dried whole Shiitake mushrooms from its subsidiary, Zhejiang Farmmi Biotechnology Co., Ltd. The order is aimed at exporting the mushrooms to Southwest Asia, reflecting the company's ongoing growth strategy. Chairwoman and CEO Yefang Zhang emphasized the focus on organic growth and leveraging improved financial positions and established supply chain relationships. The announcement suggests a positive trajectory for the company amidst ongoing discussions with customers regarding growth opportunities.