Huadi International Group Co., Ltd. Enters into an Investment Agreement with a Songyang County Local Government Owned Enterprise to Build its Smart Factory, “Future Factory” - Seite 2

Mr. Wang Di, Chairman of the Company, commented, "We are pleased to have reached this important cooperation agreement with the Songyang government to launch our new factory project. With the steady growth in market demand, we expect continuous increase in product orders. Therefore, expansion of production capacity and digital transformation of our production line are our key strategic plans in the coming years.”

“In addition, the strong support of Songyang County government’s investment attractions policies is one of the main reasons why we chose to locate our new factory in Songyang County, Zhejiang Province. The Future Factory project will enable us to continuously expand our production capacity of high-quality products while maintaining high-cost efficiency to meet the most stringent industry standards and provide excellent products to our customers. After completion of the project, we expect the project will be able to bring an annual output value of approximately RMB1.7 billion to HUDI. We will also focus on building a smart factory and digital management of manufacturing. We look forward to the significant economic boost and increased job opportunities that the construction of the new factory will bring to Songyang County."

About Huadi International Group Co., Ltd.

Huadi International Group Co., Ltd. is a leading manufacturer of industrial stainless steel seamless pipes and tubes products with extensive distribution facilities and network for over twenty provinces in China and across international steel pipes industry. It offers a broad range of products exported to twenty countries and regions such as United States, Mexico, Thailand, Australia, Argentina, Taiwan, India, the Philippines, UAE and Canada. Its products are widely used in the oil & gas transmission, chemistry engineering, food processing, medical devices, aeronautics and astronautics, boiler, irrigation works construction, electricity, automobile, naval architecture, paper mill and mechanical industries. For more information about the Company, please visit: http://www.huadi.cc.

Forward-Looking Statement

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