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Bon Natural Life Limited Advances Towards Near Term Production and Completes Building Construction of Yumen Plant

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HIGHLIGHTS OF A TRANSFORMATIVE 2022

  • Yumen Plant commissioning is on schedule and forecasted to commence around September 2022 to deliver near term production of fragrance compounds and bioactive food ingredients.

  • A 200% increase in production capacity in these two product categories with 150% overall revenue growth potential on an annualized basis.

  • Subsequent to the removal of VIE structure, BON's shareholders have ownership of the Company's operating entities through the Company's direct subsidiary structure.

  • Positive initial feedbacks on Company's own proprietarily developed natural and plant based personal care and supplement products.

  • Expanded distribution channels with partners and ecommerce platforms.

XIAN, China, May 5, 2022 /PRNewswire/ -- Bon Natural Life Limited (Nasdaq: BON) ("BON" or the "Company"), one of the leading bio-ingredient solutions providers in the natural, health and personal care industries, today announced that its third production site – Yumen Plant has completed the building structure of the facility as scheduled and expects to remain on target for the first phase completion around September this year.

On the backdrop of BON's recently reported record-setting growth, both in revenues and net income increasing 39.9% and 48.8%, respectively, for the fiscal year ended June 30, 2021 as compared to the same period in 2020, the Company expects that the Yumen Plant will increase the production capacity of fragrance compounds and bioactive food ingredients by 200%, representing an 150% annualized growth potential in overall revenue creating strong value growth for our shareholders. The first-phase project of the Yumen Factory is to increase the production capacity of the fragrance compounds and bioactive food ingredients products to meet the existing market and customer demand; the second-phase of the expansion is for the company's new proprietary products including natural prebiotics and functional personal care.

Despite unprecedented challenges caused by the COVID-19 pandemic, the Company has made significant strides in advancing its Yumen plant construction by working closely with local authorities to comply with the COVID-19 control and prevention policies and actively coordinated with local government agencies and partners to solve logistic, construction material and labor shortage issues. All these advancements were completed while consistently focusing on our core purpose of delivering on our ESG-centric agenda of social and environmental sustainability: maintaining a profound commitment to the sustainable development of the Yumen, Gansu region and anywhere we operate.

"I'm very proud of what our team has achieved so far on the build-out of our Yumen Plant. It speaks to the commitment by our employees to complete the construction of the Yumen plant on schedule during this challenging environment and puts us on track to commence plant commissioning around September this year." Commented Richard Hu, CEO and Chairman of BON, "The commencement of Yumen Plant will mark another significant growth step forward for the Company. It will significantly improve the Company's production capacity, enabling us to meet more customer demand efficiently and lay a solid foundation for our global business expansion."

About Bon Natural Life Limited

The Company focuses on the manufacturing of personal care ingredients, such as plant extracted fragrance compounds for perfume and fragrance manufacturers, natural health supplements such as powder drinks and bioactive food ingredient products mostly used as food additives and nutritional supplements by their customers. For additional information, please visit the Company's website at www.bnlus.com.

Safe Harbor Statement

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; the growth of the natural, health and personal care market in China and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing, completion of final safety and environmental inspections and other requirements of Yumen Plant in a timely fashion by local authorities and other risks contained in reports filed by the Company with the SEC. 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 SEC, 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.

For more information, please contact:

In the United States: In China:
Maggie Zhang | Impact IR Sophie Zhang | Impact IR
Phone: (646) 893-8916 Email: sophie.zhang@irimpact.com
Email: maggie.zhang@irimpact.com

Cision
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View original content:https://www.prnewswire.com/news-releases/bon-natural-life-limited-advances-towards-near-term-production-and-completes-building-construction-of-yumen-plant-301539815.html

SOURCE Bon Natural Life Limited