ISPIRE California factory to launch fully automated assembly line by year-end; Southeast Asia may be

ISPIRE's factory in California, USA, will launch its first fully automated assembly line by the end of 2023. Additionally, ISPIRE is actively exploring Southeast Asia as a potential hub for future manufacturing operations, aiming to further optimize production capacity.

On September 19, ISPIRE (ISPR.US) released its fiscal year 2023 report. The performance report indicated that ISPIRE's revenue for fiscal year 2023 grew by 31.2%, reaching $115.6 million.  

ISPIRE Co-CEO Michael Wang stated that fiscal year 2023 is a significant milestone for ISPIRE, with revenues from related CBD and vaping products increasing by 100.4% and 10.9%, respectively, while total revenue grew by 31.2%. This growth was primarily driven by a doubling of revenue from ISPIRE's CBD vaping products in the U.S. and an increase in sales of vaping products in Europe.  

He noted that the key to this success is ISPIRE's multi-faceted strategy: expanding sales of CBD vaping products to provide innovative products for medical and recreational sectors.  

He also mentioned that ISPIRE's factory in California will launch its first fully automated assembly line by the end of 2023. Additionally, ISPIRE is actively exploring Southeast Asia as a potential hub for future manufacturing operations, aiming to further optimize production capacity.