HARBIN, China, July 23 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (NYSE Amex: CBP) ("Renhuang" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), today announced that the Company was recently awarded an AAA(1) rating by Chinese Academy of International Trade & Economic Cooperation of Ministry of Commerce ("the Academy").
The Academy's ratings are conferred only after an extensive review of an enterprise's financial condition and an AAA(1) mark represents the highest possible rating granted by the Academy. The appraisal process involves evaluation of bond management, corporate debt, contract execution, public records, financial status, and financing abilities of each enterprise and is conducted independently by the Academy. The AAA(1) rating certifies that the enterprise has outstanding performance in each of the above areas and is highly recognized by consumers and the government as practicing sound commercial practices.
"It is a great honor and a significant achievement to receive an AAA(1) rating from the Academy," said Mr. Shaoming Li, the Company's Chairman and Chief Executive Officer. "We are pleased that our improved governance measures and strong financial controls have been validated by the Academy's intensive appraisal process. We believe this will reinforce the investment community's confidence in our business and growth prospects as we continue to expand our national and international sales."
ABOUT RENHUANG PHARMACEUTICALS, INC.
Renhuang Pharmaceuticals, Inc. is engaged in the research, development, manufacturing, and distribution of botanical products, bio-pharmaceutical products, and traditional Chinese medicines ("TCM"), in the People's Republic of China. All of the Company's products are produced at its three GMP-certified production facilities in Ah City, Dongfanghong and Qingyang. The Company distributes its botanical anti-depression and nerve-regulation products, biopharmaceutical products, and botanical antibiotic and OTC TCMs through its network of over 3,000 distributors and over 70 sales centers across 24 provinces in China. Company Website: http://www.renhuang.com .
Safe Harbor Statement
This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's beliefs, assumptions and expectations of the Company's future operations and economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company's AAA rating from Chinese Academy of International Trade & Economic Cooperation of Ministry of Commerce, ability to manage expansion of its operations effectively, and other factors detailed in the Company's annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.
For more information, please contact: Company Contact: Renhuang Pharmaceuticals, Inc. Ms. Portia Tan, IR Contact Tel: +86-451-8260-2162 Email: email@example.com CCG Investor Relations: Mr. Mark Collinson, Partner Tel: +1-310-954-1343 (Los Angeles) Email: firstname.lastname@example.org Web: http://www.ccgirasia.com Mr. Crocker Coulson, President Tel: +1-646-213-1915 (New York) Email: email@example.com
|SOURCE Renhuang Pharmaceuticals, Inc.|
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