Business
Farmmi Provides CEO Update and Extends Proxy Voting Period to Better Accommodate Shareholders
LISHUI, China, May 10, 2022 /PRNewswire/ -- Farmmi, Inc. ("Farmmi" or the "Company") (NASDAQ: FAMI), an agricultural products supplier in China, today
About this update from Farmmi, Inc. Ordinary Shares
[{"type":"text","content":"LISHUI, China, May 10, 2022 /PRNewswire/ -- Farmmi, Inc. (\"Farmmi\" or the \"Company\") (NASDAQ: FAMI), an agricultural products supplier in China, today provided a CEO update detailing an extension of the proxy voting period to May 13, 2022 (www.transhare.com/farmmi) to better accommodate shareholders and its progress on the Company's expectations for increased growth and expanded opportunities. The full text of the CEO letter follows:\nMay 10, 2022\nDear Shareholders,\nFarmmi has continued to make steady progress on our business diversification and growth, as we work to build on the Company's rich 20 year history. Our brand remains strong and is recognized with customers in the markets we serve worldwide as an industry leading agricultural brand specializing in the production, processing, marketing and research of edible fungi products.\nWe were not immune to the impact of the global pandemic and ongoing shutdowns in China. But we remained focused on serving our customers as we leveraged investments in our field-to-table supply chain, with our increased capacity, storage and shipping capabilities fortifying our business. Customers appreciated our efforts and ability to reliably deliver the high quality agriculture products they rely on our company for. Our perseverance and commitment to our customers has been rewarded many times over as evidenced by the steady pace of new orders.\nOur core business is strong, and we are very positive on the growth prospects over the near and long-term. Demand for our edible fungi continues to grow led by increased adoption by consumers seeking healthy diets without sacrificing flavor. The pandemic has served as an accelerator in many cases with consumers staying home and learning to cook for the first time or seasoned chefs dusting off their pans and re-engaging with their hobby. Both audiences have been demand drivers and are expected to serve as growth drivers to our business as we move through 2022.\nWhile we are positive on the continued growth and success of our core business, we are less satisfied with our pace of expansion in the newer Health and Wellness business. In September 2021, we established four new subsidiaries. Zhejiang Yitang Medical Service Co., Ltd., Zhejiang Yiting Medical Technology Co., Ltd., Farmmi (Hangzhou) Health Development Co., Ltd., and Zhejiang Farmmi Healthcare...