HIGHLIGHTS OF A TRANSFORMATIVE 2022
- Yumen Plant commissioning is on schedule and forecasted to
commence around September 2022
to deliver near term production of fragrance compounds and
bioactive food ingredients.
- A 200% increase in production capacity in these two product
categories with 150% overall revenue growth potential on an
annualized basis.
- Subsequent to the removal of VIE structure, BON's
shareholders have ownership of the Company's operating entities
through the Company's direct subsidiary structure.
- Positive initial feedbacks on Company's own proprietarily
developed natural and plant based personal care and supplement
products.
- Expanded distribution channels with partners and ecommerce
platforms.
XIAN,
China, May 5, 2022 /PRNewswire/ -- Bon
Natural Life Limited (Nasdaq: BON) ("BON" or the "Company"), one of
the leading bio-ingredient solutions providers in the natural,
health and personal care industries, today announced that its third
production site – Yumen Plant has completed the building structure
of the facility as scheduled and expects to remain on target for
the first phase completion around September this year.
On the backdrop of BON's recently reported record-setting
growth, both in revenues and net income increasing 39.9% and 48.8%,
respectively, for the fiscal year ended June
30, 2021 as compared to the same period in 2020, the Company
expects that the Yumen Plant will increase the production capacity
of fragrance compounds and bioactive food ingredients by 200%,
representing an 150% annualized growth potential in overall revenue
creating strong value growth for our shareholders. The first-phase
project of the Yumen Factory is to increase the production capacity
of the fragrance compounds and bioactive food ingredients products
to meet the existing market and customer demand; the second-phase
of the expansion is for the company's new proprietary products
including natural prebiotics and functional personal care.
Despite unprecedented challenges caused by the COVID-19
pandemic, the Company has made significant strides in advancing its
Yumen plant construction by working closely with local authorities
to comply with the COVID-19 control and prevention policies and
actively coordinated with local government agencies and partners to
solve logistic, construction material and labor shortage issues.
All these advancements were completed while consistently focusing
on our core purpose of delivering on our ESG-centric agenda of
social and environmental sustainability: maintaining a profound
commitment to the sustainable development of the Yumen,
Gansu region and anywhere we
operate.
"I'm very proud of what our team has achieved so far on the
build-out of our Yumen Plant. It speaks to the commitment by our
employees to complete the construction of the Yumen plant on
schedule during this challenging environment and puts us on
track to commence plant commissioning around September this year."
Commented Richard Hu, CEO and Chairman of BON, "The commencement of
Yumen Plant will mark another significant growth step forward for
the Company. It will significantly improve the Company's production
capacity, enabling us to meet more customer demand efficiently and
lay a solid foundation for our global business expansion."
About Bon Natural Life Limited
The Company focuses on the manufacturing of personal care
ingredients, such as plant extracted fragrance compounds for
perfume and fragrance manufacturers, natural health supplements
such as powder drinks and bioactive food ingredient products mostly
used as food additives and nutritional supplements by their
customers. For additional information, please visit the Company's
website at www.bnlus.com.
Safe Harbor Statement
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. When the Company uses words such as
"may, "will, "intend," "should," "believe," "expect," "anticipate,"
"project," "estimate" or similar expressions that do not relate
solely to historical matters, it is making forward-looking
statements. Forward-looking statements are not guarantees of future
performance and involve risks and uncertainties that may cause the
actual results to differ materially from the Company's expectations
discussed in the forward-looking statements. These statements are
subject to uncertainties and risks including, but not limited to,
the following: the Company's goals and strategies; the Company's
future business development; product and service demand and
acceptance; changes in technology; economic conditions; the growth
of the natural, health and personal care market
in China and the other international markets the Company
plans to serve; reputation and brand; the impact of competition and
pricing; government regulations; fluctuations in general economic
and business conditions in China and the international
markets the Company plans to serve and assumptions underlying or
related to any of the foregoing, completion of final safety and
environmental inspections and other requirements of Yumen Plant in
a timely fashion by local authorities and other risks
contained in reports filed by the Company with the SEC. For these
reasons, among others, investors are cautioned not to place undue
reliance upon any forward-looking statements in this press release.
Additional factors are discussed in the Company's filings with the
SEC, which are available for review at www.sec.gov. The
Company undertakes no obligation to publicly revise these
forward–looking statements to reflect events or circumstances that
arise after the date hereof.
For more information, please contact:
In the United States:
In China:
Maggie Zhang | Impact IR
Sophie Zhang | Impact IR
Phone: (646) 893-8916
Email:
sophie.zhang@irimpact.com
Email: maggie.zhang@irimpact.com
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SOURCE Bon Natural Life Limited