Bon Natural Life Limited ( BON ) stock is moving higher on Friday after the company announced it won a $12 million supply agreement to co-develop apple polyphenol-infused health solutions.

What To Know: Bon won a 24-month long supply agreement to co-develop the aforementioned health solutions for Shanghai Yunsheng, a Chinese functional ingredients distributor.

The partnership will leverage Bon’s patented extraction technology to deliver formulations that combine antioxidant-rich apple polyphenols with plant-based proteins.

“As one of the world’s premier apple polyphenol suppliers, we’re leveraging our vertically integrated supply chain to dominate this high-growth niche,” said Yongwei Hu, Chairman and CEO of Bon.

Bon shares are trading on unusually high volume, with 285.79 million shares exchanged. The company's 100-day average is 15.27 million, according to data from Benzinga Pro.

See Also: Are Chinese Tech Stocks At A ‘Serious Risk’ Amid Escalating Trade War? ‘Delisting Is Moving Up In The List Of Retaliatory Options,’ Says Analyst

BON Price Action: At the time of writing, Bon shares are trading 55.1% higher at 9 cents, per data from Benzinga Pro.

Image: This illustration was generated using artificial intelligence via Midjourney.