SHANGHAI, Jan. 11, 2012 /PRNewswire-Asia/ -- Jiayin Wang, Chairman and CEO of China Health Resource, Inc. (OTCBB: CHRI), delivers the keynote speech for the 10th year Anniversary Celebration at Suining Yinfa DAR Industrial Co, Ltd, wholly owned subsidiary (Yinfa). Wang quotes in speech Robert Johnson, founder of Johnson & Johnson and Pfizer as major inspirations and corporate models.
"10 years ago, we ventured into an industry suffering from antiquated technology, know-how and ancient beliefs. Starting a new business with new procedures and trying to change old traditions with history that dates as far back as 1,000 years was a daunting task," said Jiayin Wang, Founder, Chairman and CEO of CHRI and Chairman of Suining DAR Association. The DAR Association is a cooperative of over 100,000 farmers of Dahurian Angelica Root (DAR) pooling their collective resources to provide economic and productivity benefits to its farmer members.
Jiayin Wang is a 12 consecutive time recipient for the national award in the People's Republic of China. In 2006, he received China's 500 Great Entrepreneurs Award given by the President of the People's Republic of China. Wang has served as President and Chairman of the Board of Directors of Sichuan Yinfa Resource Development Co., Ltd., an affiliate of CHRI, where he spearheaded the development of the standardization of pharmaceutical grade Dahurian Angelica Root (DAR) under the Chinese State Food and Drug Administration Good Agricultural Practice (GAP) of Medical Plants and Animals. Additionally, Wang has been the People's Senator of Suining City, Sichuan Province and the People's Republic of China ("PRC") since 1995 and the Chairman of Sichuan Province DAR Association since 2001.
China Health Resource, Inc. which operates through its wholly own subsidiary Yinfa, is the leading provider of GAP quality DAR in the People's Republic of China (PRC) under the registered Trademark Chuan Baizhi™. The company strives at modernizing Traditional Chinese Medicine (TCM) and is now extending its GAP DAR know-how to other TCM herbs. TCM is listed in China's strategic current 5-Year Plan to be an important area for development, specific areas are research and development for new cures using TCM, modernization of TCM and development of new health products. The industry of TCM in China is growing considerably compared to other segments of the healthcare industry and is expected by many experts to continue also worldwide given by the long trends in demand for alternative health care, aging population and demand for health product of pure natural basis with less side effects.
"We had to discover new means and deal with many different groups many with contradictory views, groups including pharmaceutical giants, government, academicians, and farmers. The beginning was not easy," says Jiayin Wang.
"I was inspired back then by Robert W. Johnson, founder of Johnson & Johnson, who inspired by a speech by an antiseptic advocate, innovated and rejuvenated an old industry and changed how cuts and wounds would be treated from the surgery room to the home to the major success of the famous Band-Aid," added Jiayin Wang in his 10th Year Anniversary speech.
"The company began from humble beginnings and significant challenges after now 10 years of work, we have standardized BaiZhi (Dahurian Angelica Root or DAR) using the General Agricultural Process (GAP) international standard. We will continue now with other important herbs. We already started with GAP for Gastrodia Rhizoma ("Tian Ma") as our next standard. We are now a nationally accredited enterprise – A Dragonhead enterprise, giving us a high degree of governmental level certification as a quality company in China meeting strict standards," says Mr. Wang summarizing some of the significant milestones achieved.
"We also have grown financially in the recent years and this is important for our shareholders and employees and expect to continue doing that. We are adding new products like Gastrodia which have a higher profit margin and is a larger demand market," continues Mr. Wang.
The company announced robust record breaking quarterly earnings for the 3rd Quarter 2011. CHRI reported over $9.3 million in revenues and $1.8 million in net income, a 219% increase in revenues and a 141% increase in profits from the third quarter of 2010. This translates to earnings of about $0.03 per share for the first three quarters of 2011. The net earnings performance in the first three quarters has already exceeded the net profit for the entire year of 2010 by 61%.
"CHRI was able to keep its accelerated growth rate and achieved excellent results in the year even though the general market for pharmaceutical products in China had a slower year. Orders in the 3rd quarter were up more than double comparing to the same period of last year, with an increased net margin from 17% to 20%," said Weihai Liu, CHRI's CFO. "
"2011 and our first 10 Years has been hard work yet rewarding. From here forward we have to have a keen focus in our mission: We must continue establishing standards and continue modernizing TCM for its wider market penetration, select niche products with good margins and going global – all these are important to maintain in our minds as commitments at all times," said Mr. Wang with great emphasis addressing his audience which included many senior management of the company.
"Sichuan Bazhi DAR is now a strong franchise. While we continue with Gastrodia, an important note on going global, I have been further inspired recently with the Pfizer, a multinational pharmaceutical company, and of their initial success, later challenges and later growth through mergers and acquisition. Pzifer was an innovator in fermentation of sugar using a fungus and later used it's know-how to mass produce penicillin for World War II in the United States. Without their knowledge in fermentation, many USA soldier and allies would not have received proper antibiotic medication. And later in the 1990's, Pfizer grew rapidly by gaining wider market distribution for its products, and more unique technology through mergers and acquisitions however above all they gained superior talent," says Wang in his speech.
"We know the area of mergers and acquisition especially outside of China is new. We also know we have unique challenges that other places do not have in the world. Our currency, the Renminbi and capital in general is under strict foreign currency control and also traveling for our managers is not easy, however just like we learned to work hard and reap the rewards later, we have learned to adapt, improve and succeed at hard tasks especially when there is a grand cause. This and what our company is all about is a grand cause. It benefits people worldwide and shareholders as well. I thank all of you, our shareholders, consultants, and wish you every success for our next 10 years," Mr. Wang said in very high spirited words.
China Health Resource, Inc. engages in the development, manufacturing, processing, marketing and sale of raw and pharmaceutical TCM products including Dahurian Angelica Root (DAR) and Rhizoma Gastrodiae and is only the provider of GAP quality DAR in the People's Republic of China under the registered Trademark Chuan Baizhi™. DAR, which is also known as "Bai Zhi" in Mandarin Chinese, is an herb that is employed as an ingredient in medicine, cosmetics and food, as well as used in TCM for the treatment of pain, swelling and pustule. The Company's DAR-related products include the Bailing Capsule, Yisheng Capsule, Kimchee-Mate and Fragrant Bag, all of which are sold through regional distributors. The Company was founded in 2001 and is based in Suining, Sichuan Province .
Certain statements in this document regarding financial matters, other than historical facts, and statements of our expectations, intentions, plans and beliefs, constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to certain events, risks and uncertainties that may be outside our control. The words "believe", "expect", "anticipate", "optimistic", "intend", "will", and similar expressions identify forward-looking statements. The company intends that such proclamations about future expectations, including future revenues and earnings, future business expansion plans, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. These and other risks and uncertainties related to our business are described in greater detail in our filings with the Commission. The foregoing information should be read in conjunction with these filings. We disclaim any intention or obligation to update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
|SOURCE China Health Resource, Inc.|
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