The company expects a maiden order of $950,000 from No.1 under...

The company expects a maiden order of $950,000 from No.1 under the deal to be reflected in the revenue statement of the next quarterly report.

No.1 primarily distributes among drug stores in Shanghai, which boasts a population of more than 29 million. The Chinese bourse listee operates both brick-and-mortar and online stores.

“This agreement … further enhances our positioning in the health, well-being, food and beverage sector in China … servicing the high consumer demand for quality international products with China’s large, emerging middle class,” Roolife CEO Bryan Carr said.

Mr Carr also noted that Roolife stands to make the bulk of the profits from sales.

“It’s a great way to start and with 80 per cent of the net profit from these product sales to drop directly to our bottom line, it highlights the value of this new partnership,” he added.

https://themarketherald.com.au/roolife-group-asxrlg-inks-deal-with-shanghai-listed-pharma-company-to-penetrate-chinese-market-2023-08-30/