Navigation Links
Huifeng Bio-Pharmaceutical (HFGB) Provides Update on Current Business and COS Certification

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.

For more information, please contact:

Dan Carlson

Primary Capital LLC

Tel: +1-415-460-1165


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:
(Date:6/23/2016)... Cancer Foundation (PCF) is pleased to announce 24 new Young Investigator (YI) ... of the Class of 2016 were selected from a pool of 128 applicants ... the Class of 2016 PCF Young Investigators ... ... ...
(Date:6/23/2016)... (PRWEB) , ... June 23, 2016 , ... STACS DNA ... Technical Leader at the Arkansas State Crime Laboratory, has joined STACS DNA as a ... STACS DNA team,” said Jocelyn Tremblay, President and COO of STACS DNA. “In further ...
(Date:6/23/2016)... 2016 Andrew D ... Published recently in ... from touchONCOLOGY, Andrew D Zelenetz , discusses ... care is placing an increasing burden on healthcare ... therapies. With the patents on many biologics expiring, ...
(Date:6/23/2016)... ... June 23, 2016 , ... ... line of intelligent tools designed, tuned and optimized exclusively for Okuma CNC machining ... Chicago. The result of a collaboration among several companies with expertise in toolholding, ...
Breaking Biology Technology:
(Date:6/16/2016)... , June 16, 2016 ... size is expected to reach USD 1.83 billion ... Grand View Research, Inc. Technological proliferation and increasing ... applications are expected to drive the market growth. ... , The development of advanced multimodal ...
(Date:6/7/2016)... , June 7, 2016  Syngrafii Inc. and ... business relationship that includes integrating Syngrafii,s patented LongPen™ ... project. This collaboration will result in greater convenience ... credit union, while maintaining existing document workflow and ... ...
(Date:6/2/2016)... , June 2, 2016 Perimeter ... Platforms, Unmanned Systems, Physical Infrastructure, Support & Other Service  ... visiongain offers comprehensive analysis of the global ... market will generate revenues of $17.98 billion in 2016. ... DVTEL Inc, a leader in software and hardware technologies ...
Breaking Biology News(10 mins):