Bon Natural Life Ltd. (China)

The Company through its wholly-owned subsidiaries, is engaged in the research and development, manufacturing and sales of functional active ingredients extracted from natural herb plants which are widely used by manufacturer customers in the functional food, personal care, cosmetic and pharmaceutical industries. The Company sells its products to customers located in both Chinese and international markets.
The Company's products have similar economic characteristics with respect to raw materials, vendors, marketing and promotions, customers and methods of distribution. The Company's chief operating decision maker has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing performance of the Company, rather than by product types or geographic area; hence the Company has only one reporting segment.
HISTORY
2019 The Company was incorporated as an exempted company with limited liability under the laws of the Cayman Islands on December 11, 2019. The Company owns 100 equity interest of Tea Essence Limited, an entity incorporated on January 9, 2020 in accordance with the laws and regulations in Hong Kong.
2021
On July 6, 2021, the Company entered into a consulting agreement with a New York based consulting firm (“the consulting firm”), pursuant to which, the consulting firm will help the Company to (i) identify appropriate business partner candidates in New York or California in order to jointly establish a research and development center in the United States for future new product development; (ii) find opportunities to establish business relationship with U.S based companies with OEM demand and utilize the Company's manufacturing strength and capability to manufacture healthcare ingredient products for U.S companies under the OEM arrangement and (iii) help the Company to purchase or lease appropriate commercial facilities in the U.S...
The Company's ordinary shares started to trade on the Nasdaq Capital Market under the ticker symbol “BON” since June 24, 2021.
2022 As of September 30, 2022, the consulting firm has delivered a potential acquisition target to the Company, which is a small R D firm developing anti-aging formulas.