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Golden Sun shifts to wellness industry, launches products

EditorRachael Rajan
Published 02/09/2024, 09:08 AM
Updated 02/09/2024, 09:08 AM
© Reuters.

SHANGHAI - Golden Sun Health Technology Group Limited (NASDAQ:GSUN), historically known for its educational services, has announced a strategic pivot into China's wellness industry. The company has been actively developing its wellness brand and e-commerce platform since 2023, launching oral health products and marketing healthy agricultural products through various online channels.

As part of its diversification, Golden Sun established Shanghai Jinheyu Biotechnology Co., Ltd. in August 2023, which created a line of oral health products under the Fuding White Tea brand. These products, including toothpaste, mouth spray, and mouthwash, incorporate Fuding white tea and traditional Chinese medicines aimed at improving oral hygiene.

These wellness products were introduced to Chinese consumers in December 2023 through major e-commerce platforms such as JD (NASDAQ:JD).com, Taobao, Red, and Yundinghuo. In January 2024, the company's subsidiary, Zhejiang Golden Sun Selection Technology Co., Ltd., initiated a livestreaming channel on www.douyin.com to promote and sell selected healthy agricultural goods, including red beans and barley, connecting producers directly with health-conscious consumers.

In addition to launching new products, Golden Sun has invested in three Chinese companies operating within the wellness sector in 2023. The company's chairman and CEO, Mr. Xueyuan Weng, expressed enthusiasm for the company's new direction, citing the health trends among younger generations as a promising sign for the company's future growth and shareholder value.

The information in this article is based on a press release.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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