Navigation Links
China Botanic Pharmaceutical Receives a Tax Exemption in 2011
Date:3/14/2011

HARBIN, China, March 14, 2011 /PRNewswire-Asia-FirstCall/ -- China Botanic Pharmaceutical Inc. (AMEX: CBP) (formerly Renhuang Pharmaceuticals, Inc.) ("China Botanic" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM") in China, today announced that the Company has passed the annual High-Tech Enterprise assessment, and that as a result, China Botanic will continue to enjoy a 10 percent tax exemption and will be entitled to a preferential tax rate of 15 percent in 2011 which is notably lower than the statutory income tax rate of 25 percent.

As previously disclosed on March 30, 2010, China Botanic has been awarded the State High-Technology Enterprise certificate. As a Certificate recipient, China Botanic will have access to a series of national and local government support programs, including favorable tax treatment. While the certificate is valid for three years, China Botanic must successfully complete an annual assessment to remain eligible for the tax benefits.

For fiscal 2011, the Company expects to see revenue in the range of $70.6 million to $71.7 million, and after-tax net income of $22.9 million to $23.2 million. These figures represent a 28% to 30% increase from fiscal 2010 revenue of $55.2 million and net income of $17.9 million. The Company's 2011 guidance does not take into account the impact of any potential acquisitions.

To achieve its guidance, the Company will focus on increasing average selling prices, introducing new products, expanding its marketing efforts to gain additional market share, continuing to develop a larger distribution network and expanding into overseas markets. China Botanic also anticipates that it will benefit from the burgeoning Chinese national health insurance program.

"Looking into 2011, we are optimistic about our growth outlook and the market prospects for our all-natural plant based remedies. As people learn more about depression in China, the market potential for China Botanic's scientifically-verified depression and anxiety fighters will continue to increase. The Company will capitalize on opportunities provided by health care reform, as well," said Mr. Shaoming Li, the Company's Chairman and Chief Executive Officer. "Our thorough market research shows that China Botanic has a stable customer base and our previous average selling prices were below the market price. We anticipate attractive revenue and net income growth to be largely driven by an increase in average selling prices of our key products, sales and distribution expansion, and the Chinese government's healthcare reform. We also expect increased sales contribution from our latest new products introduced in 2010."

ABOUT CHINA BOTANIC PHARMACEUTICAL INC.China Botanic Pharmaceutical 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. For more information, please visit www.renhuang.com.Company Contact:China Botanic Pharmaceutical Inc.Ms. Portia Tan, IR ContactTel: 86-451-8260-2162Email: ir@renhuang.comCCG Investor Relations:Mr. Mark Collinson, PartnerPhone: +1-310-954-1343 (Los Angeles)Email: mark.collinson@ccgir.comWebsite: www.ccgirasia.comMr. Crocker Coulson, PresidentPhone: +1-646-213-1915 (New York)Email: crocker.coulson@ccgir.com
'/>"/>

SOURCE China Botanic Pharmaceutical Inc.
Copyright©2010 PR Newswire.
All rights reserved

Related medicine technology :

1. China-Biotics, Inc. Announces the Results of the 2010 Annual Meeting of Stockholders
2. China Botanic Schedules Conference Call to Discuss FY 2011 First Quarter Results
3. Fenwal, Golden Meditech Complete Definitive Agreement to Form Joint Venture in China
4. NeoStem To Present at Rodman & Renshaw Annual China Investment Conference on Tuesday, March 8
5. Weikang Bio-Technology to Present at Rodman & Renshaw Annual China Investment Conference
6. China Medicine Corporation Adopts New Incentive Compensation Plans
7. DK Sinopharma, Inc. is to Present at the Rodman & Renshaw Annual China Investment Conference to be Held March 6--8
8. China Pharma Holdings, Inc. Reports Full Year 2010 Financial Results
9. China Pharma Holdings, Inc. to Report Fiscal Year 2010 Financial Results on March 3, 2011
10. China Nepstar Chain Drugstore to Report Fourth Quarter and Fiscal Year 2010 Financial Results on March 16, 2011
11. Health on the Agenda at Food ingredients Asia-China Trade Show
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:10/2/2017)... Oct. 2, 2017 Diplomat Pharmacy, Inc. (NYSE: ... Software and Consulting, LLC , and named its founder ... based in Tennessee , will operate ... expands EnvoyHealth,s service offerings for health care partners to ... "In an interoperable world, technology ...
(Date:10/2/2017)... , Oct. 2, 2017  AllianceRx Walgreens Prime, ... formed by Walgreens and pharmacy benefit manager Prime Therapeutics ... new brand, which included the unveiling of new signage ... , as well as at a few other company-owned ... new brand to patients, some of whom will begin ...
(Date:10/2/2017)... , Oct. 2, 2017 The Rebound mobile ... the struggle to reverse the tide of prescription drug addiction. ... regulating their medicine intake and stepping down their dosage in ... to launch in December 2017; the first 100,000 people to ... more at http://www.rebound-solution.com/ ...
Breaking Medicine Technology:
(Date:10/13/2017)... ... ... While it’s often important to take certain medications during the night, finding ... identified a solution. , She developed a prototype for MOTION LIGHT-UP PILL BOX to ... the need to turn on a light when taking medication during the night, allowing ...
(Date:10/13/2017)... Nevada (PRWEB) , ... October 13, 2017 , ... ... Hemp CBD Oil utilizing Purzorb™ technology. Applying the Purzorb™process to full spectrum CBD oil ... required and providing a CBD form that can be easily incorporated into liquid products, ...
(Date:10/13/2017)... ... October 13, 2017 , ... Apple Rehab Shelton Lakes , which ... evacuation of the facility as part of a disaster drill on October 3rd. , ... and Shelton City Emergency Manager, as well as the Connecticut Long Term Care ...
(Date:10/13/2017)... ... October 13, 2017 , ... Ellevate Network, the leading network ... advocate for action towards gender equality at their inaugural Summit in New York City ... and reached a social audience of over 3 million. To watch the Mobilize Women ...
(Date:10/13/2017)... ... 2017 , ... Talented host, actor Rob Lowe, is introducing ... new episode of "Success Files," which is an award-winning educational program broadcasted on ... subject in-depth with passion and integrity. , Sciatica occurs when the sciatic nerve ...
Breaking Medicine News(10 mins):