Benzinga | Jul 22, 2021 08:32AM EDT

Nisun International Announces Collaboration With Beijing Digital Telecom To Jointly Develop Supply Chain Services In Retail Industry; Financial Terms Not Disclosed

Nisun International Enterprise Development Group Co., Ltd ("Nisun" or the "Company") (NASDAQ:NISN), a provider of innovative comprehensive solutions through an integration of technology, industry, and finance, today announced Fanlunke Supply Chain Management (Shanghai) Co., Ltd, a subsidiary of Fintech (Shanghai) Digital Technology Co., Ltd. and a controlled affiliate of the Company, has signed a cooperation agreement with Beijing Digital Telecom Co., Ltd. ("Dixintong") (HKEX: 06188), a subsidiary of state-owned enterprise Zhuhai Huafa Group Co., Ltd. ("Huafa Group"). The two parties will cooperate in the areas of retail supply chain management services, retail business innovation, and technological innovation.

Under this agreement, the two parties will cooperate in supply chain management services to improve the efficiency and safety of the upstream and downstream retail consumer supply chain across multiple industries. Through gradual expansion in scale, the two parties will strengthen the cooperation and bring more value to their respective shareholders.

Mr. Xiaoyun Huang, Chairman and Chief Executive Officer of Nisun International, commented: "As China continues to accelerate the construction of new development patterns from a macro perspective, its consumer market will continue moving in the direction of high-end, high-quality, and intelligence, a positive trend for 3C high-end consumption. Nisun will promote and facilitate the transformation of China's mobile communication supply chain industry through industrial chain integration and efficiency improvement."

Dixintong (HKEX: 06188) is China's largest retail chain for mobile phones and accessories. It primarily operates in the retail and wholesale areas of mobile communication equipment and accessories with over a thousand directly operated and franchised stores. Over the years, Dixintong has entered into long-term strategic cooperation with major mobile phone manufacturers, suppliers and operators, while cooperating closely with major e-commerce giants such as JD.com and Alibaba.

Established in 1980, Zhuhai Huafa Group Co., Ltd. is a state-owned enterprise, operated by the Zhuhai State-owned Assets Supervision and Administration Commission. Since 2016, for five consecutive years, it has ranked among the "Top 500 Chinese Enterprises." In 2020, it was ranked 259 and was selected as the "Double Hundred Enterprise" for the State-owned Enterprise Reform of the State Council. Huafa Group currently has eight publicly traded subsidiaries: Huafa Corporate, Huajin Capital, Huafa Property Services, Zhuangchen Holdings, Weiye Corporate, Huacan Optoelectronics, Optics, and Dixintong, and two NEEQ-listed companies, Huaguan Technology and Huaguan Capacitor.