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Golden Sun Health Technology Group Limited Announces Strategic Transition into the Wellness Industry in China
Shanghai, China, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the
About this update from Golden Sun Technology Group Limited
[{"type":"text","content":"Shanghai, China, Feb. 09, 2024 (GLOBE NEWSWIRE) -- Golden Sun Health Technology Group Limited, formerly known as Golden Sun Education Group Limited (the “Company” or “Golden Sun”) (Nasdaq: GSUN), a provider of tutorial services in China, today announced its strategic transition into the wellness industry in China. Since 2023, the Company has been endeavoring to establish its own wellness brands and an e-commerce platform that will be used to promote and sell wellness products, through a number of business initiatives. In August 2023, the Company established a subsidiary, Shanghai Jinheyu Biotechnology Co., Ltd., which has developed Fuding White Tea (福鼎白茶) brand white tea oral health products, including toothpaste, mouth freshening spray, and mouthwash. These products contain Fuding white tea (a specialty white tea produced in Fuding City, a village in Fujian province, China) and other Chinese traditional medicines that are believed may have the ability to alleviate certain oral hygiene and dental concerns. In December 2023, the Company launched the Fuding White Tea oral health products on various e-commerce platforms in China, including JD.com, Taobao, Red, and Yundinghuo. In January 2024, the Company’s subsidiary, Zhejiang Golden Sun Selection Technology Co., Ltd., launched a livestreaming channel on www.douyin.com to market and sell selected healthy agricultural products, such as red beans, coix seeds, barley, and brown sugar with ginger. The Company’s service connects producers and consumers of such products, and promotes a healthy lifestyle to a targeted audience. Additionally, in 2023, the Company made equity investments in three Chinese companies that operate in the wellness industry. Mr. Xueyuan Weng, Chairman and Chief Executive Officer of the Company, commented, “We are thrilled to enter a new chapter with our strategic transition into the wellness industry. We have been proactively adapting to a challenging business landscape by seeking new driving forces for long-term growth. As younger generations become increasingly health-conscious, we anticipate that our shift towards the wellness industry may be beneficial to our long-term development plan and may generate greater shareholder value.” About Golden Sun Health Technology Group Limited Established in 1997 and headquartered in Shanghai, China, Golden Sun Health Techno...