SHANGHAI, CHINA — Nisun International Enterprise Development Group Co., Ltd., through its controlled affiliate, Fintech Supply Chain Management, has entered into a wheat flour sales and purchase agreement with Binzhou Zhongyu Food Industry Co., Ltd.
Shanghai, China-based Nisun, an integrated supply chain solutions provider, will fulfill orders from Zhongyu Food through Shandong Fintech. Nisun estimates that by the end of 2023 the value of the agreement with Zhongyu Food will exceed RMB 600 million ($87.3 million).
Founded in 2003, Zhongyu Food is a leading manufacturer in China with a green circular economy from wheat seeds to final products such as dried noodles and gluten powder, with an annual wheat processing capacity of 1 million tonnes.
“We are thrilled to establish the partnership with Zhongyu Food through the agreement,” said Xiaoyun Huang, chief executive officer of Nisun. “This partnership is anticipated to enhance our business presence in the wheat flour market and fuel our exploration of new growth opportunities. We believe the new partnership will be a valuable addition to our existing efforts in the wheat flour market that can enlarge our customer base.”
