SHANGHAI, China, Dec. 15, 2023 (GLOBE NEWSWIRE) -- YanGuFang International Group Co., Ltd. (the “Company” or “YanGuFang”) (Nasdaq: YGF), a health food company primarily engaged in the production, sourcing, research and development, and sales and distribution of oat and grain products across China and internationally, today announced that its oatmeal products ranked first in the “Meal Replacement Oatmeal” category and second in the “Instant Drink” category on Chinese e-commerce platform Douyin during the Double 11 online shopping festival, a nationwide online sales event held around November 11 each year.
For the first time since its debut, YanGuFang’s Germ Oatmeal was the number one seller in the “Meal Replacement Oatmeal” category on Douyin during the festival. It also secured the runner-up position in the “Instant Drink” category, which pertains to beverages created by adding water to processed food. According to Douyin’s e-commerce analytics, the YanGuFang Official Flagship Store witnessed a 34-fold year-over-year increase in Gross Merchandise Volume (GMV) during the festival.
Douyin, the Chinese counterpart to TikTok, has emerged as an important and fast-growing e-commerce channel in recent years. To capitalize on this momentum and expand its customer base, YanGuFang’s New E-Commerce Division has integrated Douyin as a key component of its sales strategy. YanGuFang debuted Germ Oatmeal on Douyin in 2022, and has since sold more than 1 million 1,080-gram cans through the platform.
Mr. Junguo He, Chairman and Chief Executive Officer of YanGuFang, commented, “We are very pleased with our sales performance on Douyin during the recent Double 11 festival. These impressive sales figures demonstrate that we have made great progress in certain targeted categories, and serve as a testament to the growing demand among Chinese consumers for nutritious food options. YanGuFang has undertaken a number of strategic initiatives to promote our products in the marketplace, and we are pleased to observe that our healthy whole-grain offerings are reaching more households.”
About YanGuFang International Group Co., Ltd.
YanGuFang is a health food company engaged in the production, sourcing, research and development, sales and distribution of natural oat and whole grain products. The Company is committed to improving human health through its research to explore the nutritional benefits of its products. The Company has developed over 80 products in its natural oat and whole grain series. For more information, please visit the Company's website at http://ir.ygfang.com/.
Forward-Looking Statements
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. Investors can identify these forward-looking statements by words or phrases such as "approximates," "assesses," "believes," "hopes," "expects," "anticipates," "estimates," "projects," "intends," "plans," "will," "would," "should," "could," "may" or similar expressions. These forward-looking statements are not guarantees of future performance and involve known and unknown risks and uncertainties and are based on the Company's current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs, which may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding the Company's ability to develop and sell new or improved products and services, raise capital, deliver customer orders timely, execute its business plans, and attract and retain customers and skilled professionals; risks and uncertainties regarding fluctuations in earnings, fluctuations in foreign exchange rates, the impact of COVID-19 on the Company's businesses, and general economic conditions affecting the Company's industry and other risks contained in reports filed by the Company with the U.S. Securities and Exchange Commission (the "SEC"). The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the SEC, which are available, free of charge, on the SEC's website at www.sec.gov.
