Bon Natural Life is a Chinese company dedicated to the extraction and production of functional active ingredients from plants, which are essential for the food, pharmaceutical, and cosmetic industries. Its products are ingredients for some personal care products, nutritional supplements, and powdered drinks. Its BON stock appeared on the Nasdaq last summer at a price of about $7.2. It has been decreasing since then and was worth $3.36 at the close of yesterday’s trade. However, a strong 2021 report released on February 2 sent the stock up 32% to $4.45 in pre-market trading.
Its report contains the 2021 financial results of Bon Natural Life ending September 30, 2021. During this term, net revenue popped 39.9% compared to 2020 and amounted to $ 25.5 million, while net income growth was almost 50% to $4.6 million. This is due to the increase in sales of its main products: fragrance compounds and powder drinks. For the year, general administrative expenses dropped by more than $43,000 to $1.3 million. In addition, its Yumen Plant started operating this year, which will enable the company to serve customers more efficiently and better.