Navigation Links
Huifeng Bio-Pharmaceutical (HFGB) Enters into Letter of Intent with Xi'an Qinba Xintong Medical Ltd.
Date:9/5/2008

XI'AN, China, Sept. 5 /Xinhua-PRNewswire-FirstCall/ -- Huifeng Bio- Pharmaceutical Technology, Inc (OTC Bulletin Board: HFGB) (the "Company"), a leading developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production in Xi'an, China, is pleased to announce a Letter of Intent to enter into a contractual arrangement with Xi'an Qinba Xintong Medical Ltd. ("Qinba"). Under the proposed terms of this arrangement, Huifeng will take over operational control of Qinba and will receive a management fee equal to all of Qinba's profit.

"As a manufacturer of finished medical devices, Qinba will give Huifeng immediate access to pharmacy and medicine buyers," stated Huifeng's CEO and founder Jing'An Wang. "With this Letter of Intent, Huifeng has taken the first step toward positioning itself for synergistic growth beyond its core revenue base."

Mr. Wang further noted that Huifeng is now commencing a vertical integration strategy intended to transform the company from a producer of raw materials for the Traditional Chinese Medicine industry to a full-scale pharmaceutical company supplying end products to consumers worldwide.

"With this Letter of Intent, we have proven our ability to attract accretive deals within the People's Republic of China," continued Mr. Wang. "Moving forward, we hope to close on several larger strategic partnerships."

Huifeng is maintaining its guidance for $18M in revenue and $4M of net income.

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 in Xi'an China. 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 may contain forward-looking statements. These statements are based on the current expectations or beliefs of the Company's management and are subject to a number of factors and uncertainties that could cause actual results to differ materially from those described in the forward- looking statements, including but not limited to the fluctuation of prices of raw materials, the market demand for our products, changes in governmental regulations and/or economic policies and our ability to penetrate new markets.

For more information, please contact:

Dan Carlson, Primary Capital LLC

Email: DCarlson@PrimaryLLC.com

Kelly Black, CEO Premier Media Services, Inc.

Tel: +1-480-649-8224

Email: kblack@premiermediaserice.com


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

Related biology technology :

1. Huifeng Bio-Pharmaceutical (HFGB) Announces 2007 Full Year Results
2. Huifeng Bio-Pharmaceutical (HFGB) to Release First Quarter 2008 Earnings Results on May 15, 2008
3. Huifeng Bio-Pharmaceutical (HFGB) Announces No Earthquake Related Damage to Facilities
4. Huifeng Bio-Pharmaceutical (HFGB) Provides Update on Current Business and COS Certification
5. Huifeng Bio-Pharmaceutical (HFGB) Information to Be Available Through Standard & Poors Market Access Program
6. Huifeng Bio-pharmaceutical Technology Inc. Announces Strategic Alliance with Premier Media Service Inc.
7. Huifeng Bio-Pharmaceutical (HFGB) Provides Update on COS Application Status
8. Huifeng Bio-Pharmaceutical (HFGB) to Release Second Quarter 2008 Earnings Results on August 15, 2008
9. Huifeng Bio-Pharmaceutical (HFGB) Announces USD $1.1 Million Supply Agreement with DNP International Co. Inc.
10. Huifeng Bio-Pharmaceutical (HFGB) Reports over $5 Million in Gross Sales; Record Results for the First Half of 2008
11. Huifeng Bio-Pharmaceutical (HFGB) to Attend CPhI South America 2008 Pharmaceutical Conference; The First CPhI Conference to be held in the Emerging Market of Brazil
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:2/3/2016)... SAN DIEGO , Feb. 3, 2016 /PRNewswire/ ... medicine company with the first pluripotent stem cell-derived ... 1 diabetes in clinical-stage development, today announced that ... Janssen Pharmaceutical Companies of Johnson & Johnson, have ... BetaLogics group into ViaCyte.  The agreement provides ViaCyte ...
(Date:2/3/2016)... YORK and HOLLISTON, Mass., Feb. 3, 2016 ... HART ), a biotechnology company developing bioengineered ... trachea and bronchus, today announced that CEO ... BIO CEO & Investor Conference on Tuesday, ... New York City . HART,s ...
(Date:2/3/2016)... ... 03, 2016 , ... StarNet Communications Corp, ( http://www.starnet.com/ ) ... addition of a powerful “Session Preview” feature to its FastX remote Linux visualization ... remote Linux desktop or other applications (sessions) they have running on a remote ...
(Date:2/3/2016)... ... February 03, 2016 , ... ZeptoMetrix™ Corporation (ZMC), ... development and ongoing quality control of molecular assays targeting the Zika Virus. , ... Gregory R. Chiklis, President and CEO of ZeptoMetrix, relayed to his Executive Team. ...
Breaking Biology Technology:
(Date:2/3/2016)... Feb. 3, 2016 ... of the "Emotion Detection and Recognition ... and Others), Software Tools (Facial Expression, Voice ... Users,and Regions - Global forecast to 2020" ... --> http://www.researchandmarkets.com/research/d8zjcd/emotion_detection ) has announced the ...
(Date:2/2/2016)... 2, 2016 Technology Enhancements Accelerate Growth of X-ray ... the digital and computed radiography markets in ... Indonesia (TIM). It provides an ... as well as regional market drivers and restraints. The ... penetration and market attractiveness, both for digital and computed ...
(Date:2/1/2016)... Feb. 1, 2016  Today, the first day of ... plans to develop a first of its kind workplace ... IBM Watson. In the first application of ... IBM ), and Welltok will create a new ... with cognitive analytics, delivered on Welltok,s health optimization platform. ...
Breaking Biology News(10 mins):