Happiness Biotech (NASDAQ:HAPP) trades 4.2% higher premarket after its e-commerce business recorded sales of $14M+ in March, the highest single month's sales since the establishment of its e-commerce department in September 2020.
Among the sales of the e-commerce business, Happy Buy recorded over $11.8M, exceeding the previous expectation of $8M to $10M, and Happy Auto recorded sales of more than $2.6M in March.
Since its September 2020 launch, revenue of the e-commerce business crossed $28M in the past six months, 30% higher than the total revenue of $21.88M of the whole company during the six months ended Sep. 30, 2020.
The company expects to achieve more promising results in FY21.
Happiness Biotech Group Ltd is a nutraceutical and dietary supplements producer focused on the research, development, manufacturing, and marketing of products made from Chinese herbal extracts. Its products include Lucidum spore powder products, Cordyceps mycelia products, Ejiao solution products, Vitamins, and dietary supplements products, American ginseng products, and others. The company generates maximum revenue from Lucidum spore powder products.
Among the sales of the e-commerce business, Happy Buy recorded over $11.8M, exceeding the previous expectation of $8M to $10M, and Happy Auto recorded sales of more than $2.6M in March.
Since its September 2020 launch, revenue of the e-commerce business crossed $28M in the past six months, 30% higher than the total revenue of $21.88M of the whole company during the six months ended Sep. 30, 2020.
The company expects to achieve more promising results in FY21.
Happiness Biotech Group Ltd is a nutraceutical and dietary supplements producer focused on the research, development, manufacturing, and marketing of products made from Chinese herbal extracts. Its products include Lucidum spore powder products, Cordyceps mycelia products, Ejiao solution products, Vitamins, and dietary supplements products, American ginseng products, and others. The company generates maximum revenue from Lucidum spore powder products.