SHANGHAI, China, July 29, 2020 (GLOBE NEWSWIRE) -- ECMOHO Limited (Nasdaq: MOHO) ("ECMOHO" or the "Company"), a leading integrated solutions provider in the rapidly growing non-medical health and wellness market in China, has agreed to cooperate with the Wenjiang District Government of Chengdu to establish the Company’s southwest headquarters in China’s first smart health industrial park in Chengdu.
ECMOHO also reached a framework agreement with Runxintang, a leading research, development, and production company of Chinese herbal medicine based in Sichuan province. The two companies plan to establish a joint venture company to build up digital supply chain, which could help to improve the capacity to manufacture customized products and improve the capability of R&D, marketing and sales promotion in the Chinese herbal medicine industry.
Ms. Zoe Wang, the chief executive officer of ECMOHO, stated that:
- The Company’s southwest headquarters, to be established with assistance from the Wenjiang District Government of Chengdu, will be a platform integrating R&D, production, and sales functions. With the help of ECMOHO’s capability on strategic digitalization, the platform could make unique local health resources available to consumers through ECMOHO’s smart supply chain. ECMOHO could help to create a new local health product brand, stimulate and enhance the development of the local health industry, which could also create more employment opportunities.
- ECMOHO will exert its influence and appeal in health industry and introduce more domestic and internationally well-known health companies to join the smart health industry park. The park will fully integrate the upper, middle and lower reaches of health industry resources and build a health digital industry chain. Science and technology will serve as the core competitiveness of the smart health park. A group of well-known domestic health industry research institutions will be introduced into the park, so as to build a smart health park integrating "production, education and research".
Safe Harbor Statements
This news release contains forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will”, “expects”, “anticipates”, “future”, “intends”, “plans”, “believes”, “estimates”, “target”, “going forward”, “outlook” and similar statements. For example, the Company’s statements about its expectations for the smart health park in Chengdu and its planned cooperation with Runxintang are forward-looking statements and are inherently uncertain. Such statements are based upon management's current expectations and current market and operating conditions, and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company's control, which may cause the Company's actual results, performance or achievements to differ materially from those in the forward-looking statements. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
About ECMOHO Limited
ECMOHO is a leading integrated solution provider in the rapidly growing non-medical health and wellness market in China. The Company acts as the bridge between brand owners and Chinese consumers by marketing and distributing health supplements and food, mother and child care products, personal care products, household healthcare equipment and other health and wellness products. Through over eight years of operation, ECMOHO has built an ecosystem where Chinese consumers are provided with customized health and wellness solutions that include quality products and trustworthy content.
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