Greensboro NC, Jan. 28, 2019 (GLOBE NEWSWIRE) — Management of HF Foods Group Inc. (Nasdaq symbol: HFFG) after careful deliberation has announced the formation of a strategic alliance with Overseas Student Service Corp. HF Foods Group Inc. andOverseas Student Service Corp have signed a strategic alliance agreement effective December 2018.
According to the agreement,Overseas Student Service Corp, the largest overseas students service platform in the US, will work with HF Foods Group Inc. to help to recruit, provide and train intern students majoring in logistics, IT and Supply Chain on behalf of HF Foods Group Inc. WithOverseas Student Service Corp’s technological advantage, they will also provide training and procedures to employees in all positions at HFFG.
The Chairman of HF Foods Group Inc., Mr. Zhou Min Ni said: “We are so happy to partner with Overseas Student Service Corp. We hopeOverseas Student Service Corp can provide resources that HF Foods Group Inc. will need to improve efficiencies and expand our market share, thus generating increased profitability for our investors.”
The Chairman and founder of Overseas Student Service Corp, Mr. John Wang said: “Overseas Student Service Corp is the largest overseas students service organization in the US. Our services include employee training, tutoring, study-abroad planning, real estate services and career planning for overseas students and companies. Our strategic alliance with HF Foods Group Inc. should provide strong support for HF Foods Group Inc.’s market expansion with great services and resources.”
About HF Foods Group Inc.
HF Foods Group Inc and its subsidiaries, including, HF Group Holding Corporation operate as a food service distributor for Chinese restaurants and other businesses. The company was founded in 2018 and is based in in Greensboro, North Carolina. Zhou Min Ni and his wife, Chan Sin Wong, co-founded Han Feng Inc., one of HF Group Holding Corporation’s subsidiaries, in Kernersville, North Carolina in 1997 and have since opened three distribution centers in North Carolina, Florida and Georgia. HF Foods Group currently employs approximately 400 people and distributes its products to a network of 3,200 Chinese restaurants across 10 states. HFFG is an equal opportunity employer.
Forward Looking Statements
This communication includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “possible,” “potential,” “predict,” “project,” “should,” “would” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements may include, for example, statements about the benefits of the transaction described in this communication; the future financial performance of HF Foods Group following the transaction; changes in HF Foods Group’s reserves and future operating results; and expansion plans and opportunities. These forward-looking statements are based on information available as of the date of this communication, and current expectations, forecasts and assumptions, and involve several judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing HF Foods Group’s views as of any subsequent date, and HF Foods Group does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. As a result of a few known and unknown risks and uncertainties, HF Foods Group’s actual results or performance may be materially different from those expressed or implied by these forward-looking statements. Some factors that could cause actual results to differ include HF Foods Group’s ability to recognize the anticipated benefits of the transaction, which may be affected by, among other things, competition and the ability of HF Foods Group to grow and manage growth profitably following the transaction; changes in applicable laws or regulations; the possibility that HF Foods Group may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties indicated in HF Foods Group’s public filings with the Securities and Exchange Commission.