In the first quarter of 2008, the Company opened a subsidiary in India to sell its nutritional foods product line and dietary supplements. On April 25, 2008, Yingxia announced that it had completed the acquisition of Guangzhou Chichi Network Technology Development Co., Ltd. (''Guangzhou Technology''), and Guangzhou Chichi Network Supermarket Chain Co., Ltd. (''Guangzhou Supermarket Chain''), together known as the Chichi Wang companies for approximately $171,000. The Company is expected to open 50 additional Guangzhou Supermarket Chain in 2008. The projected revenue from the acquisition for the second half of 2008 is $223,080.
"We are pleased with the growth we expect to see from the addition of new products as well as increase the number of franchisee owned retail outlets. In addition we are evaluating strategic acquisitions that will enhance our company's value and the value to our shareholders" said Ms. Yingxia Jiao, CEO of China Yingxia.
For the six months period ending, June 30, 2008, Yingxia estimates revenues to be in the range of $7.5 million to 8.0 million, and estimates net income to be in the range of $2.8 million to $3.1 million.
For the full year ending December 31, 2008, Yingxia estimates revenues to be in the range of $21.1 million to $21.9 million and estimates net income to be in the range of $9 million to $9.3 million.
About China Yingxia International, Inc.
China Yingxia International, Inc., through its 100%-owned subsidiary,
Harbin Yingxia Industrial Group Co., Ltd. ('Yingxia'), is primarily engaged
in the development, production and sales of health food products in China.
Yingxia is located in the Province of Heilongjiang in mainland China.
Yingxia's products include soybean-based foods and drinks, longgu golden
|SOURCE China Yingxia International, Inc.|
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