HARBIN, China, July 7 /PRNewswire-Asia-FirstCall/ -- Renhuang Pharmaceuticals, Inc. (NYSE Amex: CBP) ("Renhuang" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), today announced that, commencing on July 2, 2010, its common stock is trading on the NYSE Amex Market under the ticker symbol "CBP".
On this occasion, Mr. Shaoming Li, Chairman of the Board, Chief Executive Officer and President of Renhuang Pharmaceuticals, Inc. made the following statement:
"We would like to congratulate our shareholders and welcome them to one of the world's largest and most prestigious exchanges. Those shareholders who have been with us for some time have seen Renhuang grow into a major presence in botanical products, bio-pharmaceutical products, and traditional Chinese medicines ("TCM"), in China. We have shown revenue growth of 24.5% CAGR in the last three years and have launched Banlangen Granules, Compound Honeysuckle Granules, and Qing Re Jie Du Oral Liquid in 2009 and 2010. The Company will launch Compound Schisandra Tablets in July 2010 and Ginseng and Deer Antler Extract in August 2010. The Company continues to play a crucial role in introducing safe and effective botanical drugs, including its leading Siberian Ginseng (Acanthopanax) series, biopharmaceuticals and OTC traditional Chinese medicines, with a key focus on the development of botanical anti-depression and nerve-regulation products.
"In addition, the listing of our common stock on the NYSE Amex is an important part of our overall future growth strategy as well. I would like to outline some of the ways in which our prospects are enhanced by this milestone event.
-- First, we are committed to life as a responsible US public company and the standards of disclosure, corporate governance and overall transparency for companies listed on NYSE AMEX are among the highest if not the highest in the world. We welcome the opportunity to comply with these standards and believe our compliance will attract new and more discerning shareholders to our roster -- Second, this large and liquid exchange greatly enhances the prospects for buyers of any new shares we may issue of a deeper market for any enhanced share count. Since we believe we will have many opportunities to put capital to good use in the future through product expansion, new product development, product marketing, enhanced R&D and growth by acquisition, we believe our listing on the senior exchange is likely to lead to a partnership with a wider group of shareholders over time and will help broaden our visibility in the U.S. capital markets
"We would also like to take this opportunity to thank all the other stakeholders in the fortunes of Renhuang - our management team, dedicated employees, and loyal customers - for their ongoing support. We believe that this listing enhances their prospects of enjoying further success with us in the future."
ABOUT RENHUANG PHARMACEUTICALS, INC.
Renhuang Pharmaceuticals, 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. Company Website: http://www.renhuang.com .
Safe Harbor Statement
This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's beliefs, assumptions and expectations of the Company's future operations and economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company's perceived benefits from listing on a senior exchange, ability to manage expansion of its operations effectively, and other factors detailed in the Company's annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.
For more information, please contact: Company Contact: Renhuang Pharmaceuticals, Inc. Ms. Portia Tan, IR Contact Tel: +86-451-8260-2162 Email: email@example.com CCG Investor Relations: Mr. Mark Collinson, Partner Tel: +1-310-954-1343 (Los Angeles) Email: firstname.lastname@example.org Web: http://www.ccgirasia.com Mr. Crocker Coulson, President Tel: +1-646-213-1915 (New York) Email: email@example.com
|SOURCE Renhuang Pharmaceuticals, Inc.|
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