SHANGHAI, March 10 China-Biotics, Inc.("China-Biotics", the "Company") (Nasdaq: CHBT), a leading developer,manufacturer and distributor of probiotics products in China, today announcedthe results of its 2009 Annual Meeting of Stockholders ("AGM") held on Friday,March 5, 2010 for stockholders of record as of January 8, 2010, at theCompany's executive offices in Shanghai, China.
At the AGM, Mr. Song Jinan, the Chief Executive Officer and Chairman ofthe Board of China-Biotics, Dr. Chin Ji Wei, Dr. Du Wen Min and Mr. Simon Yickwere elected by stockholders as directors of the Company until the 2010 annualmeeting of stockholders.
Also at the AGM, stockholders ratified the appointment of BDO Limited asthe Company's independent auditors for the fiscal year ending March 31, 2010.
China-Biotics' executives provided a brief report outlining the Company'sgrowth strategy, business outlook, and financial performance. Management alsoresponded to questions from stockholders.
China-Biotics, Inc. ("China-Biotics," "the Company"), a leadingmanufacturer of biotechnology products and supplements, engages in theresearch, development, marketing and distribution of probiotics dietarysupplements in China. Through its wholly owned subsidiary, Shanghai ShiningBiotechnology Co., Ltd., the Company develops and produces its proprietaryproduct portfolio including live microbial nutritional supplements under the"Shining" brand. Currently, the products are sold OTC through largedistributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiangprovince. In February 2010, China-Biotics began its commercial production inChina's largest probiotics production facility to meet growing demand in China.For more information, please visit http://www.chn-biotics.com .
Safe Harbor Statement
The information in this release contains forward-looking statements whichinvolve risks and uncertainties, including statements regarding the Company'scapital needs, business strategy and expectations. Any statements containedherein that are not statements of historical fact may be deemed to beforward-looking statements, which may be identified by terminology such as"may," "should," "will," "expect," "plan," "intend," "anticipate," "believe,""estimate," "predict," "potential," "forecast," "project," or "continue," thenegative of such terms or other comparable terminology. Readers should notrely on forward-looking statements as predictions of future events or results.Any or all of the Company's forward-looking statements may turn out to bewrong. They can be affected by inaccurate assumptions, risks and uncertaintiesand other factors which could cause actual events or results to be materiallydifferent from those expressed or implied in the forward-looking statements.In evaluating these statements, readers should consider various factors,including the risks described in "Item 1A. Risk Factors" beginning on page 15and elsewhere in the Company's 2009 Annual Report on Form 10-K. These factorsmay cause the Company's actual results to differ materially from anyforward-looking statement. In addition, new factors emerge from time to timeand it is not possible for the Company to predict all factors that may causeactual results to differ materially from those contained in anyforward-looking statements. The Company disclaims any obligation to publiclyupdate any forward-looking statements to reflect events or circumstances afterthe date of this document, except as required by applicable law.For more information, please contact: Travis Cai Chief Financial Officer China-Biotics, Inc. Email: [email protected]
Kevin Theiss Grayling Tel: +1-646-284-9409 Email: [email protected]
SOURCE China-Biotics, Inc.