Navigation Links
Huifeng Bio-Pharmaceutical (HFGB) Announces 2007 Full Year Results
Date:3/31/2008

XI'AN, China, March 31 /Xinhua-PRNewswire-FirstCall/ -- Huifeng Bio- Pharmaceutical Technology, Inc. (OTC Bulletin Board: HFGB), a developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production, is pleased to announce its audited financial results for the year ended December 31, 2007.

Full Year 2007 Highlights:

The following is a summary of our financial results for the full year ended Dec. 31, 2007.

12 Months Ended 12 Months Ended Growth

In US Dollars December 31,2007 December 31,2006 %

Net Revenue $6,571,531 $3,076,779 114%

Gross Profit $1,977,313 $457,518 332%

Gross Profit Margin 30% 15%

Net Income $1,283,683 $131,736 874%

Net Income Margin 20% 4%

Earnings Per Share $0.07 $0.01 600%

Huifeng achieved outstanding growth during 2007, with sales more than doubling and net income increasing by over 800%. "Huifeng achieved a number of significant milestones in 2007. We have increased our product offering and achieved significant sales in both Rutin and Diosmin," states company CEO Jing'An Wang. Furthermore, in late 2007, Huifeng signed the largest supply agreement in company history and completed a $2 million fundraising.

"Huifeng expects to continue achieving significant gains in both sales and net income in 2008 through organic growth of our current products," forecasted Mr. Wang. The company restructured its production lines in the fourth quarter to accommodate the increased production levels of Diosmin necessitated under its current contract with Safic-Alcan of France. Huifeng also hopes to close a strategic acquisition in 2008 under its stated policy of seeking synergistic, accretive acquisitions in the Xi'an region of China.

The company is maintaining its stated guidance of sales of US$18 million and net income of US$4 million ($0.18 cents per share) in 2008.

For more detailed information on this transaction, investors should refer to Huifeng's Current Report on Form 10-KSB and related exhibits filed with the Securities and Exchange Commission on Friday, March 31, 2008.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

About Huifeng Bio-Pharmaceutical Technology, Inc. (HFGB)

Huifeng Bio-Pharmaceutical Technology, Inc., located in Xi'an, People's Republic of China, develops and produces plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production. It is the leading Chinese producer of rutin and related plant-derived chemicals in a class called flavonoids, with medicinal and other beneficial properties. Founded in 2002, Huifeng uses proprietary patented processes to extract rutin more efficiently than traditional extraction techniques. The Company is diversifying its product lines through internal development, acquisition and cooperation with scientific research organizations. http://www.hfgb.cn/

This press release contains forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts, included or incorporated by reference herein relating to management's current expectations of future financial performance, continued growth, changes in economic conditions or capital markets and our ability to consummate strategic acquisitions are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934.

Words or phrases such as "anticipates," "may," "will," "should," "believes," "estimates," "expects," "intends," "plans," "hopes," "predicts," "projects," "targets," "will likely result," "will continue" or similar expressions identify forward-looking statements. Forward-looking statements involve risks and uncertainties which could cause actual results or outcomes to differ materially from those expressed. We caution that while we make such statements in good faith and believe such statements are based on reasonable assumptions, including without limitation, management's examination of historical operating trends, data contained in records and other data available from third parties, we cannot assure you that our projections will be achieved.

For more information, please contact:

Dan Carlson, Primary Capital LLC

Email: DCarlson@PrimaryLLC.com


'/>"/>
SOURCE Huifeng Bio-Pharmaceutical Technology, Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Skystar Bio-Pharmaceutical Announces Second Quarter 2007 Results
2. Skystar Bio-Pharmaceutical Raises 2007 Revenue Guidance to $15.8 Million
3. Dendreon Announces Publication of Phase 1 Study Highlighting Immunologic and Clinical Activity of Lapuleucel-T (Neuvenge(R)) in Advanced Breast Cancer Patients
4. YM BIOSCIENCES ANNOUNCES COMPLIANCE WITH AIM RULE 26
5. Emisphere Technologies, Inc. Announces Pricing of Registered Direct Offering
6. BioLife Solutions Announces Exclusive CryoStor(TM) Supply Agreement With the New England Cryogenic Center, Inc.
7. Carrington Announces Nasdaq Communication; Prepares for Shares to Be Quoted on the OTC Bulletin Board and Pink Sheets
8. China Kangtai Cactus Biotech Files 2nd Quarter 2007 10QSB and Announces Unaudited Quarterly Results
9. Cephalon Announces Positive Results from a Pivotal Study of FENTORA in Opioid-tolerant Patients with Non-cancer Breakthrough Pain
10. Advanced Life Sciences Announces Receipt of Nasdaq Staff Letter
11. ADVENTRX Announces Fast Track Designation Granted By the FDA For CoFactor For the Treatment of Metastatic Colorectal Cancer
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:9/19/2017)... SAN FRANCISCO , Sept. 19, 2017 ... Management Solutions (VLMS) is pleased to announce the strategic ... VTI to provide clients with validation services using the ... a partner, VTI will provide clients with efficient and ... be a marketing partner for the ValGenesis VLMS system. ...
(Date:9/19/2017)... ... September 19, 2017 , ... ... for surgical applications, announced today that two new patents have been allowed by ... MD, Co-Founder of Band-LOK, said, “We continue to explore additional clinically-relevant designs for ...
(Date:9/18/2017)... ... September 18, 2017 , ... USDM Life Sciences ... the life sciences and healthcare industries, announces Bryan Coddington and ... Transformation in Medical Device – The Journey to FDA Compliant Field Service and ...
(Date:9/14/2017)... UK (PRWEB) , ... September 14, 2017 , ... ... most innovative minds in pharma and biotech at the third annual DrugDev Summit, ... conference that brings together the world’s most progressive clinical research leaders for best ...
Breaking Biology Technology:
(Date:4/17/2017)... 2017 NXT-ID, Inc. (NASDAQ: NXTD ) ... of its 2016 Annual Report on Form 10-K on Thursday April ... ... in the Investor Relations section of the Company,s website at ... at http://www.sec.gov . 2016 Year Highlights: ...
(Date:4/13/2017)... PUNE, India , April 13, 2017 According ... Identity Proofing, Identity Authentication, Identity Analytics, Identity Administration, and Authorization), Service, Authentication ... by MarketsandMarkets™, the IAM Market is expected to grow from USD 14.30 ... Annual Growth Rate (CAGR) of 17.3%. ... ...
(Date:4/11/2017)... 11, 2017 Research and Markets has announced ... report to their offering. ... global eye tracking market to grow at a CAGR of 30.37% ... Tracking Market 2017-2021, has been prepared based on an in-depth market ... landscape and its growth prospects over the coming years. The report ...
Breaking Biology News(10 mins):