Dogness Announces Strategic Partnership with Huayuan Pet and Chongai Trading
October 23 2020 - 8:00AM
Dogness (International) Corporation (“Dogness” or the “Company”)
(NASDAQ: DOGZ), a developer and manufacturer of smart and
traditional pet products in China, today announced its affiliate
Dogness Network Technology Co., Ltd. (“Dogness Network”) recently
entered into a strategic partnership with Hangzhou Huayuan Pet
Products Co., Ltd. (“Huayuan Pet”) and Shanghai Chongai Trading
Co., Ltd. (“Chongai Trading”).
By signing the strategic cooperation agreement, Dogness Network,
Huayuan Pet and Chongai Trading will partner to combine brand
distribution channel, human capital and supply chain resources. The
companies will work together to further broaden their reach within
China’s rapidly expanding pet market, jointly enhance core
competitiveness and maximize operating efficiencies to maintain a
dominant market position , while integrating and promoting new
developments within the pet industry.
Dogness (www.dogness.com) smart pet products and traditional
products are currently available in over 60 countries around the
world. As a leading international brand of smart pet technology
products, Dogness is moving quickly to develop a pet IoT platform
and work together with partners to elevate its pet products and
operations.
Huayuan Pet (www.hoopet.com) is a well-known domestic company
that integrates production and sales of pet products on an online
sales platform in China. Huayuan Pet has 20 brands, including
HOOPET and Kuqisi, and offers pet toiletries, high-end bedding,
clothing, toys, staple foods and snacks. In 2019, Huayuan Pet's
overall sales totalled RMB 1.1 billion (approximately USD 162
million).
With over ten years of experience in the pet industry, Chongai
Trading is a highly influential pet food and supply distributor
(www.pet18.com) in the China market, with extensive experience in
brand promotion and channel marketing.
Mr. Silong Chen, CEO of Dogness, commented, “China’s pet
industry is rapidly expanding, and companies are seeking new ways
to optimize efficiency and performance. We believe this partnership
can contribute approximately $6 million in new domestic sales to
Dogness during the first year and expand further in the ensuing
years. Dogness is well-positioned and continues to develop
intelligent technologies to create in-demand consumer products and
services for pet lovers around the world. We believe this strategic
partnership is an important development in the overall growth of
our business.”
About DognessDogness (International)
Corporation was born in 2003 from the belief that pet dogs and cats
are important, well-loved family members. Through its smart
products, hygiene products, health and wellness products, and leash
products, Dogness is able to simplify pet lifestyles, make them
more scientific, and enhance the relationship between pets and pet
caregivers. The Company ensures industry-leading quality through
its fully integrated vertical supply chain and world-class research
and development capabilities, which has resulted in over 200
patents and patents pending. Dogness products reach families
worldwide through global chain stores and distributors. For more
information, please visit: ir.dogness.com.
Forward Looking StatementsNo statement made in
this press release should be interpreted as an offer to purchase or
sell any security. Such an offer can only be made in accordance
with the Securities Act of 1933, as amended, and applicable state
securities laws. Certain statements in this press release
concerning our future growth prospects are forward-looking
statements regarding our future business expectations intended to
qualify for the “safe harbor” under the Private Securities
Litigation Reform Act of 1995, which involve a number of risks and
uncertainties that could cause actual results to differ materially
from those in such forward-looking statements. The risks and
uncertainties relating to these statements include, but are not
limited to, risks and uncertainties regarding our ability to raise
capital on any particular terms, fluctuations in earnings,
fluctuations in foreign exchange rates, our ability to manage
growth, our ability to realize revenue from expanded operation and
acquired assets in China and the U.S., the success of our
cooperation with business partners, our ability to attract and
retain highly skilled professionals, client concentration, industry
segment concentration, reduced demand for technology in our key
focus areas, our ability to successfully complete and integrate
potential acquisitions, and unauthorized use of our intellectual
property and general economic conditions affecting our industry.
Additional risks that could affect our future operating results are
more fully described in our United States Securities and Exchange
Commission filings. These filings are available at www.sec.gov.
Dogness may, from time to time, make additional written and oral
forward-looking statements, including statements contained in the
Company's filings with the Securities and Exchange Commission and
our reports to shareholders. In addition, please note that any
forward-looking statements contained herein are based on
assumptions that we believe to be reasonable as of the date of this
press release. The Company does not undertake to update any
forward-looking statements that may be made from time to time by or
on behalf of the Company unless it is required by law.
For investor and media inquiries, please contact:
Telephone: |
+1-833-364-6377 |
Email: |
contact@dogness.com |
|
ir@dognesspet.com |
|
|
ICR, Inc. |
|
Telephone: |
+1-646-588-0383 |
Email: |
ir@dognesspet.com |
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