Happiness Biotech announces record-high sales of over $14 million on its e-commerce business in March

Happiness Biotech Group Limited (the "Company" or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer and e-commerce services provider, announced today that the Company's e-commerce business recorded sales of over $14 million in March, the highest single month's sales since the establishment of the Company's e-commerce department in September 2020.

Among the sales of the e-commerce business, Happy Buy recorded over $11.8 million, exceeding the previous expectation of $8 million to $10 million, and Happy Auto recorded sales of more than $2.6 million in March. Since the launch of the company's E-commerce business in September 2020, the revenue of the Company's e-commerce business has exceeded $28 million in the past six months, 30% higher than the total revenue of $21.88 million of the whole Company during the six months ended September 30, 2020.

"At present, the Company's e-commerce is mainly marketed via community group buying and live streaming platforms. Besides selling the Company's own products, we also acted as agents of other business for their products, including accessories, food, clothing, etc. We have established Advertising and Optimization Department, Procurement Department, and Live Streaming Marketing Department, as well as a solid data center and service platform to support these departments. Currently we have set up three live streaming marketing bases in Fuzhou, Hangzhou and Guangzhou and the team is still expanding. Our next step is to start cross-border e-commerce business and e-commerce operation agency business. The company's own overseas online stores will be launched this month," Mr. Xuezhu Wang, CEO of the Company, continued, " We believe that with the continuous hard work of our team and expansion of our marketing efforts, we would be able to achieve more promising results in fiscal year 2021".