Business
Bon Natural Life Limited Advances Towards Near Term Production and Completes Building Construction of Yumen Plant
HIGHLIGHTS OF A TRANSFORMATIVE 2022 Yumen Plant commissioning is on schedule and forecasted to commence around September 2022 to deliver near term production
About this update from Bon Natural Life Limited
[{"type":"text","content":"HIGHLIGHTS OF A TRANSFORMATIVE 2022\nYumen Plant commissioning is on schedule and forecasted to commence around September 2022 to deliver near term production of fragrance compounds and bioactive food ingredients.A 200% increase in production capacity in these two product categories with 150% overall revenue growth potential on an annualized basis.Subsequent to the removal of VIE structure, BON's shareholders have ownership of the Company's operating entities through the Company's direct subsidiary structure.Positive initial feedbacks on Company's own proprietarily developed natural and plant based personal care and supplement products.Expanded distribution channels with partners and ecommerce platforms.XIAN, China, May 5, 2022 /PRNewswire/ -- Bon Natural Life Limited (Nasdaq: BON) (\"BON\" or the \"Company\"), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced that its third production site – Yumen Plant has completed the building structure of the facility as scheduled and expects to remain on target for the first phase completion around September this year.\nOn the backdrop of BON's recently reported record-setting growth, both in revenues and net income increasing 39.9% and 48.8%, respectively, for the fiscal year ended June 30, 2021 as compared to the same period in 2020, the Company expects that the Yumen Plant will increase the production capacity of fragrance compounds and bioactive food ingredients by 200%, representing an 150% annualized growth potential in overall revenue creating strong value growth for our shareholders. The first-phase project of the Yumen Factory is to increase the production capacity of the fragrance compounds and bioactive food ingredients products to meet the existing market and customer demand; the second-phase of the expansion is for the company's new proprietary products including natural prebiotics and functional personal care.\nDespite unprecedented challenges caused by the COVID-19 pandemic, the Company has made significant strides in advancing its Yumen plant construction by working closely with local authorities to comply with the COVID-19 control and prevention policies and actively coordinated with local government agencies and partners to solve logistic, construction material and labor shortage issues. All these ad...