NEW YORK, Dec. 10 /Xinhua-PRNewswire-FirstCall/ -- China YCT International Group, Inc. (OTC Bulletin Board: CYIG; hereinafter the "Company") announced today that Shandong Yongchuntang Biology Technology Co. Ltd. ("Shandong YCT"), the Company's wholly-owned operating subsidiary in Shandong Province, China, has been awarded the honor of China's "Top 100 Enterprises" in the bioengineering and new pharmaceuticals sector. The award was conferred by the Small- and Medium-sized Enterprises Research Center (SMERC) of the State Development and Planning Commission (SDPC), the country's premier research institution and think tank on small- and medium-sized enterprises. The rigorous selection process for the nation's "Top 100 Enterprises by Industry" began a year ago, with final winners for over 50 industrial sectors chosen from over 10,000 enterprises nationwide. Major indicators used in the selection included sales revenue in the most recent three years, production scale and capacity, actual output, and tax contribution.
The Company also announced on the same day that Shandong Yongchuntang Biology Technology Co. Ltd. has been selected as a National "Torch Plan" Key High-Tech Enterprise. Established in 1989 and administered through the Ministry of Science and Technology, the "Torch Plan" is China's premier central government-sponsored high-tech promotion program with a mandate to promote the industrialization, commercialization and internationalization of advanced technologies throughout the country. Shandong Yongchuntang Biology Technology Co. Ltd. is the first high-tech enterprise from Sishui County to be included in the plan.
"Our selection as a leading enterprise in the highly competitive bioengineering and new pharmaceuticals field, as well as our inclusion in the National 'Torch Plan', once again attest to the strengths and capabilities of our company. These two honors represent an important milestone in our persistent pursuit of developing the highest-quality ginkgo-based health and pharmaceutical products for the benefit of the human race," said Mr. Yan Tinghe, Chairman & CEO of CYIG and Shandong YCT.
China YCT International Group, Inc., through its operating subsidiary, Shandong Yongchuntang Biology Technology Co. Ltd. ("Shandong YCT"), a corporation organized under the laws of the People's Republic of China, is engaged in the business of the distribution of gingko-based health and beauty products. All of Shandong YCT's business is currently in China.
This news release contains forward-looking statements as defined by the
Private Securities Litigation Reform Act of 1995. Forward-looking
statements include statements concerning plans, objectives, goals,
strategies, future events or performance, and underlying assumptions and
other statements that are other than statements of historical facts. These
statements are subject to uncertainties and risks including, but not
limited to, product and service demand and acceptance, changes in
technology, economic conditions, the impact of competition and pricing,
government regulation, and other risks described in statements filed from
time to time with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether made by or
on behalf of the Company, are expressly qualified by the cautionary
statements that may accompany the forward-looking statements. In addition,
the Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date hereof.
For more information, please contact:
Peter D. Zhou
|SOURCE China YCT International Group, Inc.|
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