Navigation Links
Huifeng Bio-Pharmaceutical (HFGB) Provides Update on Current Business and COS Certification
Date:6/3/2008

XI'AN, China, June 3 /Xinhua-PRNewswire-FirstCall/ -- Huifeng Bio-Pharmaceutical Technology, Inc (OTC Bulletin Board: HFGB), a leading developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production, released an update on its business following their quarterly report released on May 20.

"In the first quarter, sales of our products increased substantially," stated company CEO Jing'An Wang. "Our revenue in the first quarter increased 85% versus 2007 and gross profit increased 140% to $977,000." Both of these figures represented record levels for HFGB. Mr. Wang further stated that net income was strong at 2 cents per share despite being negatively impacted by one-time expenses related to the company's recent financing activity. "Our company continues to execute to plan and there is no change to our earnings guidance of $4 million in net income for 2008."

In addition to the strength in the current business, Huifeng is gearing up for expected sales of Diosmin to Safic-Alcan under its agreement first announced last fall. As of the end of May 2008, in order to ensure smooth management operation during production of Diosmin and the integrity and reliability of COS certification materials, the company made a lot of improvements to its production technology and equipment, trained production workers and amended application documents; at the same time, plenty of testing research data, analytic testing and quality evaluation results in accordance with EP made by the company will be accomplished before June 20.

The company anticipates filing for COS Certification on August 5. As per the COS certification application process, it is estimated that the company will obtain a registration No. for Diosmin raw materials from the COS Certification Secretariat on September 15, at which time Huifeng will be able to implement its Diosmin sales contract with Safic.

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/

For more information, please contact:

Dan Carlson

Primary Capital LLC

Tel: +1-415-460-1165

Email: DCarlson@PrimaryLLC.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. Skystar Bio-Pharmaceutical Announces Second Quarter 2007 Results
5. Skystar Bio-Pharmaceutical Raises 2007 Revenue Guidance to $15.8 Million
6. Leading Overseas Scientists Establish High-Tech Bio-Pharmaceutical Enterprise in Changzhou
7. CardioDynamics Provides 2007 Shareholder Meeting Update
8. Pressure BioSciences, Inc. Reports Second Quarter 2007 Financial Results and Provides Business Update
9. NxStage Medical Provides Update on Medisystems Acquisition
10. VaxGen Files 2006 Financial Statements and Provides Cash Update
11. Signalife Provides Corporate Update
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:4/27/2016)... ... April 27, 2016 , ... Global Stem Cells Group and ... Symposium as other research and development initiatives for potential stem cell protocol management for ... Stem Cells Group executives began meeting to establish a working agenda and foster initiatives ...
(Date:4/27/2016)... , April 27, 2016 ... research report with specific focus on US, EU, ... Japan , to the healthcare business intelligence ... library. Complete report on the Flow ... companies and supported with 282 tables and figures ...
(Date:4/26/2016)... (PRWEB) , ... April 26, 2016 , ... ... today announced that Ardy Arianpour has joined the company as Chief Business Officer. ... experience bringing innovative genomic technologies to market, was most recently Chief Commercial Officer ...
(Date:4/26/2016)... ... 26, 2016 , ... Heidelberg Instruments, a leader in design, ... its Volume Pattern Generator (VPG) line of lithography systems. The breakthrough VPG+ system ... as a solution for mid volume direct write lithography applications. It utilizes ...
Breaking Biology Technology:
(Date:3/14/2016)... HANOVER , Allemagne, March 14, 2016 /PRNewswire/ ... http://www.apimages.com ) - --> - ... ) - --> ... les solutions biométriques, fournit de nouveaux lecteurs d,empreintes ... lecteur LF10 de DERMALOG sera utilisé pour produire ...
(Date:3/11/2016)... 2016 --> ... "Image Recognition Market by Technology (Pattern Recognition), by Component ... Deployment Type (On-Premises and Cloud), by Industry Vertical and ... MarketsandMarkets, the global market is expected to grow from ... by 2020, at a CAGR of 19.1%. ...
(Date:3/10/2016)... March 10, 2016   Unisys Corporation (NYSE: ... Protection (CBP) is testing its biometric identity solution at ... to help identify certain non-U.S. citizens leaving the ... test, designed to help determine the efficiency and accuracy of ... February and will run until May 2016. --> ...
Breaking Biology News(10 mins):