As of December 31, 2007, Tiens had $114 million of retained earnings and total shareholders' equity of $146 million.
Jinyuan Li, Chairman, President and CEO of Tiens, said, "2007 was a year in which Tiens faced challenges from the direct selling environment in China and in exporting its products internationally. To date no problems have been found with our high quality products under the national campaign in China to prevent the export of unsafe food and substandard products. We continued to lay the groundwork for both domestic and international sales growth by acquiring Life Resources, which will provide new research and development facilities and enhance our manufacturing capabilities."
About Tiens Biotech Group (USA), Inc. (http://www.tiens-bio.com)
Tiens Biotech Group (USA), Inc. (AMEX: TBV) conducts its business operations from Tianjin, People's Republic of China. Tiens primarily engages in the research, development, manufacturing, and marketing of nutrition supplement products, including wellness products and dietary nutrition supplement products, and personal care products.
Tiens derives its revenues principally from product sales to affiliated
companies in China and internationally in 52 countries. Since its
establishment, Tiens has developed and produced 33 nutrition supplements,
which include wellness products and dietary supplements.
|SOURCE Tiens Biotech Group (USA), Inc.|
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