Happiness Biotech Announced The Launch of Its Lucidum Tablets on DouYin Mall

Happiness Biotech Group Limited (the “Company” or Nasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer and e-commerce services provider, today announced one of its nutraceutical products – Lucidum Tablets, have been launched for sale on the DouYin Mall, a virtual mall built within a Douyin mini-program.

“To prevent false advertisement in the healthcare industry and prohibit defective health products from entering the market, China has set forth strict rules and scrutiny in Food Safety Law and the Advertisement Law for the online sales of health products. DouYin Mall has even stricter selection procedures for health products. Happiness was successfully and officially invited by DouYin Mall to open its store and its Lucidum Tablets is the first lucidum product to be sold on such e-commerce platform. As the new generation in China pays more and more attention to healthy lifestyle, the ready-to-eat nutritious supplements with appealing packaging, like Happiness’s Lucidum Tablets, have become the new market trend. We believe the demand for nutritious supplements will continue to grow in the future.

Lucidum Tablets is our first product launched in DouYin Mall. The gross margin is expected to be over 40%. We plan to utilize our advantages in lucidum supply chain, our research and development ability, to cater to the market demand and develop more popular lucidum products to make Happiness become the top lucidum brand on DouYin. As the gift season is upcoming, we expect a big sale of our for health products at the end of this year,” said Mr. Xuezhu Wang, CEO of the Company.

About Happiness Biotech Group Limited

Headquartered in Nanping, China, Happiness Biotech Group Limited currently has three business lines:nutraceutical and dietary supplements, e-commerce and auto sales. The nutrition and dietary supplements business is focusing on the research, development, manufacture and marketing of various products made from Chinese herbal extracts and other ingredients. Over the past 17 years, we have established a product portfolio consisting of 23 PRC National Medical Products Administration registered “Blue-Cap” SKUs of nutraceutical and dietary supplements products. Our e-commerce business focuses on offering e-commerce solutions, including advertising and information technology services to small and medium-sized enterprises in China. We also run our online stores which carries our products of dietary supplements and other selected products sourced from the small and medium-sized enterprises in China. Our mission for the e-commerce business is to enable small and medium-sized enterprises to fully leverage the power of e-commerce to grow rapidly. Our automobile sales adopts the B2B business model and is committed to optimizing the auto supply chain by connecting car dealers on our online automobile sales platform and offering the overall services for purchasing automobiles. For more information, please visit: www.happ.org.cn