Nisun International completes acquisition of Qingdao Sailang International to support its international metal mineral supply chain initiatives
SHANGHAI, August 17, 2022 /PRNewswire/ — Nisun International Enterprise Development Group Co., Ltd (“Nisun” or the “Company”) (Nasdaq: NISN), a provider of innovative total solutions through the integration of technology, industry and finance, announced today that it has completed the acquisition of Qingdao Sailang International Trade Co., Ltd (“Qingdao Sailang”), a company active in domestic and international metal ore trading, for 5 million RMBis around 741.5 thousand USD. Following the acquisition, the Company holds 100% of the capital of Qingdao Sailang through its subsidiary NiSun Ocean (Qingdao) Supply Chain Investment Co., Ltd. The transaction was financed with available cash.
Qingdao Sailang mainly operates in the international trade of metal ores, such as silver ore, zinc concentrate, lead concentrate and other non-ferrous metals, in the Mainland Chinaas well as regions of Southeast Asia and South America, including The Philippines and Venezuela. With this acquisition, Qingdao Sailang will benefit from Nisun’s professional supply chain management team to further expand the scale of its business.
Mr. Xiaoyun HuangCEO of Nisun, said, “Qingdao Sailang controls a vast network of metal ore supply chain. This business combination provides us with opportunities to enter the metal minerals industry, while facilitating the development of our international supply chain business. We look forward to innovating and expanding access to quality international supply chains in various industries together.”
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 is dedicated to providing professional supply chain solutions to Chinese and foreign enterprises and financial institutions. Through its subsidiaries and controlled companies, Nisun provides users with professional solutions for technology supply chain management, technology asset routing and digital transformation of technology and financial institutions, enabling the industry to grow stronger and to develop. At the same time, Nisun continues to deepen the field of industry segmentation through industrial and financial integration, cultivating and creating an ecosystem of openness and empowerment. Nisun has built a linked platform that integrates supply chain, banking, securities, trust, insurance, funds, public enterprises, among other businesses. Focusing on the linkages between industry and finance, Nisun aims to serve the upstream and downstream of the industrial supply chain while assisting in supply-side subsector reform. For more information, please visit http://ir.nisun-international.com.
Caution Regarding Forward-Looking Statements
This press release contains information about Nisun’s views on its future expectations, plans and prospects that constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended and as defined in the United States Private Securities Litigation Reform Act of 1995. Actual results may differ materially from historical results or from those indicated by these forward-looking statements due to a variety of factors, including including, but not limited to, the risks and uncertainties associated with its ability to raise additional funds, its ability to maintain and grow its business, variability in operating results, its ability to maintain and improve its brand, its development and the introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of pro products and services, marketing and other business development initiatives, co industry competition, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel with the technical skills and experience necessary to meet the requirements of its customers, and its ability to protect its intellectual property . Nisun encourages you to consider other factors that could affect its future results in Nisun’s registration statement and its other filings with the Securities and Exchange Commission. Nisun undertakes 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.
Nisun International Enterprise Development Group Co.,Ltd
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SOURCE Nisun International Enterprise Development Group Co., Ltd