According to a news release on the Ispire website on June 4th, Ispire Technology Inc. (Ispire) (NASDAQ: ISPR) announced that its wholly-owned subsidiary, Aspire Science and Technology Limited, has successfully established an original design and manufacturing (ODM) relationship with a global leading vaporization product brand.
The company has begun receiving 3 million units of purchase orders every month, and expects to maintain this level steadily over the next 12 months, predicting to bring in over $100 million in annual revenue for Ispire. The first batch of orders is set to be shipped in July 2024.
Co-CEO Michael Wang of Ispire stated:
The confidence this client has shown in our ODM business demonstrates our emphasis on technical and manufacturing expertise. This supply agreement highlights Ispire's production scale and quality, indicating that we are recognized as a global leader in the design and manufacturing of vaporization product equipment.
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