Benzinga | Sep 16, 2021 08:19AM EDT

Nisun International Announces Strategic Cooperation With Sunshine Financial To Create 'Qingdao Sunshine Nisun Supply Chain Platform'

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 that it has entered into a strategic cooperation agreement with Sunshine Chengyang Financial Holding Group ("Sunshine Financial"). Under this agreement, the two parties will enter a cooperation to develop supply chain services targeting the finance industry and build the "Qingdao Sunshine Nisun Supply Chain Platform".

Under this agreement, Nisun and Sunshine Financial will work together to migrate innovative and market-oriented core resources, including theories, concepts, experiences, practices, technology, and talent, to Qingdao City's Chengyang District in an effort to accelerate the district's development. Sunshine Financial is pleased to collaborate with Nisun. Through the favorable business environment of Qingdao's Chengyang District combined with the parties' accumulated capital and experience in the field of finance, this strategic partnership will enable the integration of innovation, enterprise, capital and talent, while promoting the high-quality development of the Chengyang District.

"This cooperation serves as a key milestone as we continue to build our ecosystem," said Mr. Xiaoyun Huang, Chairman and Chief Executive Officer of Nisun. "This partnership will provide opportunities for Nisun to further establish itself as an influential participant in the financial services industry as we continue to enhance our product and service offerings in the finance sector."

Established in September 2020, Qingdao Sunshine Chengyang Financial Holding Group Co., Ltd is a wholly-owned subsidiary of Qingdao Chengyang Sunshine Chengyang Holding Group Co., Ltd. ("Holding Group") located in Qingdao City, China. Sunshine Financial operates in commercial factoring, supply chain trading, and equity investment. Holding Group was established on December 19, 2019 with a registered capital of RBM5 billion. It is 100% invested and controlled by the state-owned Assets Development Center of Chengyang District, Qingdao City, and has an AA+ main credit rating.