Bon Natural Life Limited Shares Up After Advancing Towards Near Term Production and Completes Building Construction of Yumen Plant
May 5, 2022 By MarketDepth
Bon Natural Life Limited (NASDAQ: BON) stock jumped about 10% Thursday after the Company has 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.
Manufacturing Personal Care Products
Bon Natural Life 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.
“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. 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.”Richard Hu, CEO and Chairman of BON
Previously, Bon Natural Life reported record growth, both in revenue 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.