Western Europe and other Internationally Known Countries Targeted for Growth
NEW YORK, April 16, 2020 (GLOBE NEWSWIRE) -- Oranco, Inc. (“ORNC”), a fast-growing, highly profitable alcoholic beverage distributor in China, today announced that Alibaba Hong Kong Limited, Gold Supplier Service has executed an agreement with Oranco Inc. to distribute a select number of their liquor portfolio items throughout Western Europe, including Russia, Ukraine, Turkey and Poland. The products will be distributed through Alibaba’s Gold Supplier Service and their export marketing solutions. This overall service will help Oranco to gain maximum exposure online in multiple markets.
Alibaba.com Hong Kong Limited (“Alibaba”)
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A spokesperson for Alibaba stated, “We help our clients expose their products to overseas markets like Ukraine, Russia, Europe, Sri Lanka, Turkey, and also the Netherlands. We are excited about our newly formed relationship with Oranco Inc. (“ORNC”) and the opportunity to increase both their visibility and demand for great alcoholic products. We look forward to working closely with management and coordinating their increasing exposure within Western Europe and other entry ports.”
In commenting about this new joint venture, Mr. Peng Yang, Oranco’s CEO, stated, “This new marketing agreement will allow Oranco to establish new places of business in Western Europe, and International ports of entry as the Company looks to new, lucrative regions outside of China. As our Company continues to grow, we are convinced that other consumers and expatriates living abroad can enjoy our beverage products. We continue to look to additional places in the Asian, and Eastern and Western European market for expansion.”
With a domicile in the U.S. and an operating subsidiary in China, Oranco, Inc. (OTC – ORNC) is a pure play on the consumer goods business in China. Leveraging its unique status and business model, the Company generates major sales growth and enviable profitability, yet trades at a below-market valuation. Today, the Company is focused on marketing its self-owned brand and wholesale alcoholic beverage business. The Company has an exclusive relationship to sell the popular Chinese Fenjiu liquor along with the sale of popular imported wines to bars, liquor stores, convenience and supermarkets in a number of provinces in the Chinese marketplace. In addition to expanding its reach organically, Oranco may acquire companies or customers to quickly grow sales of its brand and other products, which will further increase its top-line and bottom-line growth rates.
This news release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, regarding, among other things our plans, strategies and prospects -- both business and financial. Although we believe that our plans, intentions and expectations reflected in or suggested by these forward-looking statements are reasonable, we cannot assure you that we will achieve or realize these plans, intentions or expectations. Forward-looking statements are inherently subject to risks, uncertainties and assumptions. Many of the forward-looking statements contained in this news release may be identified by the use of forward-looking words such as "believe," "expect," "anticipate," "should," "planned," "will," "may," "intend," "estimated," and "potential," among others. Important factors that could cause actual results to differ materially from the forward-looking statements we make in this news release include market conditions and those set forth in reports or documents that we file from time to time with the United States Securities and Exchange Commission. All forward-looking statements attributable to Oranco Inc. or a person acting on its behalf are expressly qualified in their entirety by this cautionary language.