NextPlat Gains e-Commerce Access to Over 340 Million Consumers with Launch on JD.Com, China's Largest Online Retailer

Rhea-AI Summary

NextPlat Corp (NASDAQ: NXPL) has received vendor approval from JD.com, China's largest self-operated e-Commerce retailer, to list and sell OPKO Health Europe branded health & wellness and veterinary care products. The company plans to launch products on JD.com in Q1 2025, accessing over 340 million consumers.

The initiative includes listing OPKO human health products such as nutraceuticals for bone and joint health, and supplements for nutrition and immunity. Subject to Chinese regulatory clearance expected in Q1 2025, NextPlat plans to expand offerings to include veterinary and animal health products. This expansion comes as China's nutraceuticals market is projected to reach $100 billion by 2025.

The company has already begun online and offline marketing in China and recently participated in the 2024 China International Natural Health & Nutrition Expo (NHNE).

Positive

• Gained access to JD.com's 560 million active annual users
• Entry into China's nutraceuticals market projected to reach $100 billion by 2025
• Extended and expanded exclusive e-commerce agreement with OPKO Health Europe
• Early positive feedback from NHNE trade show attendees
• Multiple parties showing interest in distribution partnerships

Negative

• Product launch delayed until Q1 2025
• Pending regulatory clearance for veterinary products in China

Listing of OPKO Health-Branded Personal Health & Wellness Products Including the First-of-Their-Kind Veterinary Care Products in China, Expected in the First Quarter of 2025, Dramatically Expanding the Company's Ongoing e-Commerce Program

COCONUT GROVE, Fla., Dec. 10, 2024 /PRNewswire/ -- NextPlat Corp (NASDAQ: NXPL, NXPLW) ("NextPlat" or the "Company"), a global e-Commerce provider, today announced a significant expansion of its e-Commerce development program in China having received vendor approval from JD.com, the world's second largest e-Commerce market, and the largest self-operated e-Commerce retailer in China (Source: Statista), for the listing and sales of OPKO Health Europe ("OPKO") branded health & wellness and veterinary care products.

JD.com, serving over 560 million active annual users and generating more than $160 billion in annual revenue (Source: Statista), provides NextPlat access to an established e-Commerce platform to reach a wide and diverse consumer base in China. JD.com offers a unique opportunity for brands like OPKO to connect directly with health-conscious consumers in a country where demand for premium healthcare and nutraceutical products is rapidly increasing.

Under its recently extended and expanded exclusive joint e-Commerce development agreement with OPKO Health Europe, a subsidiary of OPKO Health, Inc. (NASDAQ: OPK), the Company expects to begin listing a range of OPKO human health products on JD.com during the first quarter of 2025. These products include an assortment of nutraceuticals for bone and joint health as well as supplements for nutrition and immunity and defense. Subject to receipt of final country-wide Chinese regulatory clearance expected in the first quarter of 2025, NextPlat intends to significantly expand the OPKO online offerings to include a wide array of veterinary and animal health products with several first-of-their-kind products available in the Chinese pet care market. The launch comes at a time of exceptional growth in the nutraceuticals market in China, which is projected to reach $100 billion by 2025 (Source: Research and Markets), fueled by rising consumer awareness of health and wellness. Increasing disposable incomes and a rapidly aging population have further accelerated the demand for dietary supplements, vitamins, and functional foods.

"Our approval to list products on JD.com is an exciting and major expansion of our current e-Commerce activity in China, enabling us to now reach nearly 1 billion online consumers each day through multiple platforms. We continue to see increasing daily demand for OPKO products already available in-country and are looking forward to building upon the momentum in our online marketing and sales efforts in China with product listings on JD.com, and to driving significant new product sales throughout 2025," said David Phipps, President of NextPlat and CEO of Global Operations.

Earlier this year following delivery of initial product inventory, the Company began conducting both online and offline marketing and sales programs across China on behalf of OPKO. NextPlat recently took part in the 2024 China International Natural Health & Nutrition Expo(NHNE), Asia's largest health and nutrition tradeshow attended by over 120,000 industry participants. Early feedback from NHNE attendees has been positive and the Company is now in early discussions with multiple parties interested in the potential distribution, sale, and marketing of OPKO products.

NextPlat's e-Commerce development program, held in coordination with local Florida chambers of commerce, initially aims to help Florida-based businesses and manufacturers market and sell their products to potentially millions of new customers. The development program features NextPlat's turnkey global e-Commerce solution and leverages the capabilities and reach of key partners including Alibaba and its Tmall Global platform, and additional in-country marketing and distribution specialists who support cross-border solutions enabling global brands to reach Chinese consumers.

For more information about NextPlat, please visit www.NextPlat.com and connect with us on Facebook, LinkedIn, and X.

About NextPlat Corp
NextPlat is a global e-Commerce platform company created to capitalize on multiple high-growth sectors and markets including technology and healthcare. Through acquisitions, joint ventures and collaborations, the Company intends to assist businesses in selling their goods online, domestically, and internationally, allowing customers and partners to optimize their e-Commerce presence and revenue. NextPlat currently operates an e-Commerce communications division offering voice, data, tracking, and IoT products and services worldwide as well as pharmacy and healthcare data management services in the United States through its subsidiary, Progressive Care LLC.

Forward-Looking Statements
Certain statements in this release constitute forward-looking statements. These statements include the capabilities and success of the Company's business and any of its products, services or solutions. The words "believe," "forecast," "project," "intend," "expect," "plan," "should," "would," and similar expressions and all statements, which are not historical facts, are intended to identify forward-looking statements. These forward-looking statements involve and are subject to known and unknown risks, uncertainties and other factors, including the Company's ability to launch additional e-commerce platforms, sell healthcare products in China, and its ability to grow and expand as intended, any of which could cause the Company to not achieve some or all of its goals or the Company's previously reported actual results, performance (finance or operating), including those expressed or implied by such forward-looking statements. More detailed information about the Company and the risk factors that may affect the realization of forward-looking statements is set forth in the Company's filings with the Securities and Exchange Commission (the "SEC"), copies of which may be obtained from the SEC's website at www.sec.gov. The Company assumes no, and hereby disclaims any, obligation to update the forward-looking statements contained in this press release.

Media and Investor Contact for NextPlat Corp:

Michael Glickman
MWGCO, Inc.
917-397-2272
mike@mwgco.net

View original content to download multimedia:https://www.prnewswire.com/news-releases/nextplat-gains-e-commerce-access-to-over-340-million-consumers-with-launch-on-jdcom-chinas-largest-online-retailer-302327503.html

SOURCE NextPlat Corp.

FAQ

When will NextPlat (NXPL) launch products on JD.com?

NextPlat plans to begin listing OPKO health products on JD.com during the first quarter of 2025.

What products will NextPlat (NXPL) sell on JD.com?

NextPlat will sell OPKO-branded health & wellness products, including nutraceuticals for bone and joint health, supplements for nutrition and immunity, and veterinary care products (pending regulatory approval).

How many consumers will NextPlat (NXPL) reach through JD.com?

Through JD.com, NextPlat will have access to over 560 million active annual users in China.

When does NextPlat (NXPL) expect Chinese regulatory clearance for veterinary products?

NextPlat expects to receive final country-wide Chinese regulatory clearance for veterinary products in the first quarter of 2025.