"We will also continue to seek our acquisition targets to expand our
distribution network domestically and abroad. While 100% of our sales were
within China in 2007, we expect to capitalize on the growing need for
health foods and personal care products in our neighboring Asian
countries," concluded Ms. Jiao.
2007 Operating Highlights and Year End Balance Sheet Update
-- In August 2007, the Company made a short tem loan of $2,194,774 to the
agriculture production base in Hulan county, Helongjiang Province to
help finance the well sinker and irrigation project due to an
unexpected severe drought in the northern part of China during the
summer of 2007. The purpose of the loan was to support the farmers in
order to prevent any further damage to their harvest and to secure the
raw materials for the Company's own production. The loan was intended
to be interest free and for a short-term period from August 2007 to
March 2008. The management expects the entire loan to be repaid by the
end of March 2008.
As of March 31, 2008, this full amount has been collected.
"We are please to have collected these loans," stated Ms. Jiao. "We
understand many of our investors did not fully appreciate the importance of
building strong relationships with the farmers who grow our products. We
know that supporting them during a serious drought enabled us to obtain the
highest quality products and will insure their strong support in coming
-- On December 5, 2007, the Company ("Buyer") signed an agreement
("Agreement") with Shanghai Jin Ao
|SOURCE China Yingxia International, Inc.|
Copyright©2008 PR Newswire.
All rights reserved