Happiness Biotech Announced Progress of COVID-19 Testing Kits

NANPING, China, June 19, 2020 /PRNewswire/ -- Happiness Biotech Group Limited (the "Company" orNasdaq: HAPP), an innovative China-based nutraceutical and dietary supplements producer, announced today that the Company has obtained the CE Certification for the Company's COVID-19 anti-body testing kits on June 5, 2020 and samples of these testing kits have been shipped to countries including Uganda, Malaysia, and Canada since last week.

CFDA has changed the approval policy for new testing kits for COVID-19 on March 30, 2020 and required more information for new applications. As a result, our CFDA application has been delayed. On April 25, 2020, Ministry of Commerce issued Announcement on Further Strengthening the Quality Supervision of Export Epidemic Prevention Materials stating that COVID-19 testing kits may be sold to overseas market without CFDA approval so long as the testing kits receives the importing country's appropriate approval. On June 5, the Company successfully obtained the CE certification for COVID-19 anti-body testing kits. CE certification is a mandatory requirement for products to market in Europe. In the meantime, the Company has been reaching out to potential clients in different countries including Uganda, Malaysia and Canada. On June 10, the Company participated in the Guangzhou International Anti-Epidemic Products Exhibition, displaying our COVID-19 anti-body testing kits.

"We know our investors are keen to receive updated information about our COVID-19 anti-body testing kits and we are proud to announce today what we have accomplished in the past two months. The first batch of 10,000 COVID-19 anti-body testing kits is ready for shipment to any clients in the European countries and we will continue to apply for the required approvals in more countries and areas. We hope the orders will start to come soon," said Mr. Xuezhu Wang, CEO of the Company.

About Happiness Biotech Group Limited

Headquartered in Nanping, China, Happiness Biotech Group Limited is an innovative China-based nutraceutical and dietary supplements producer focused on the research, development, manufacturing and marketing of a variety of products made from Chinese herbal extracts and other ingredients. The Company's goal is to provide high-quality products to our consumers. Over the past 14 years, the Company has established a product portfolio consisting of 32 CFDA registered "Blue-Cap" SKUs of nutraceutical and dietary supplements products. For more information, please visit: www.happ.org.cn.

Forward-Looking Statements

This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; economic conditions; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China; the COVID-19 outbreak and its impact on our operations and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

SOURCE Happiness Biotech Group Limited

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