22 July 2022, China: Nisun International Enterprise Development Group Co., Ltd (“Nisun” or the “Company”) (Nasdaq: NISN), a provider of innovative comprehensive solutions through an integration of technology, industry, and finance, announced Fanlunke Supply Chain Management (Shanghai) Co., Ltd. (“Fanlunke”), a subsidiary of Fintech (Shanghai) Digital Technology Co., Ltd. and a controlled affiliate of the Company, has entered into a supply chain services agreement with Yunnan Pinhutang Distillery, Co., Ltd. (“Pinhutang Distillery”). Under this agreement, Fanlunke will provide procurement and supply chain management services to Pinhutang Distillery to help meet demand for Agricultural products.
Founded in 2012, Pinhutang Distillery is famous from its Dendrobium liquor. Dendrobium has been used for thousands of years as key herbs in traditional Chinese medicine. Dendrobium contains several chemicals that may have health effects, such as lowering blood pressure, increasing blood sugar, and reducing pain.
Pinhutang Distillery focused on its Dendrobium-related operations, integrating Dendrobium planting, processing, research & development, and brand marketing since its establishment. Pinhutang Distillery has 800 mu of Dendrobium organic planting base, more than 140 mu of modern industrial factories for Dendrobium product development and processing, as well as a relatively large-scale rice-flavor liquor production base in Yunnan province. Sales of Dendrobium liquor have increased significantly in the past two years.
“There is a long history of drinking medicinal liquor in China. In ancient Egypt and China, alcohol was used in herbal medicine. With more Chinese people exploring new health trends, we believe Dendrobium and other traditional Chinese medicine products with health-preserving and healthcare effects have significant growing potential,” said Mr. Xiaoyun Huang, Chairman and Chief Executive Officer of Nisun International. “Cooperating with Pinhutang Distillery gives Nisun opportunities to enter into the Chinese medicinal products industry. We will leverage our advantages to provide our clients with effective and high-quality supply chain services.”
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