CHANGCHUN, China and LOS ANGELES, May 10 ChinaYongxin Pharmaceuticals Inc. (OTC Bulletin Board: CYXN) (the "Company" or"China Yongxin"), one of the leading health products company in China, todayannounced that on March 31st, 2010, the Company's subsidiary, ChangchunYongxin Dirui Medical Co. Inc. ("Yongxin Dirui") was selected as one of thequalified pharmaceuticals distributors for Jilin province of China. Accordingto the new healthcare reform policy of the Chinese government, thedistribution of essential drugs must be approved by the provincial governmentthrough a public bidding process. China Yongxin, with its strong geographicpresence and distribution capability in the northeast region, won distributionrights through this competitive bidding process.
During the previous essential drug supplier bidding in Jilin province, 500of the 855 suppliers who won the bidding have signed distribution contractswith Yongxin Dirui. China Yongxin hosted a conference with over 100 of thesuppliers to further discuss the distribution of products. The governmentofficials in Jilin province healthcare department were also in attendance.
China Yongxin is the largest pharmaceutical company, equipped withstate-of-the-art logistic facilities, in Jilin province. China Yongxin hasbuilt 8 distribution centers and a distribution team of 58 people in Jilinprovince and 7 distribution connection centers around Changchun.
Mr. Yongxin Liu, Chairman and CEO of China Yongxin commented, "Becoming aqualified distributor in 2010 for Jilin province in China is expected tosignificantly enhance Yongxin Dirui's distribution business. We have alwaysbeen very confident about our advanced distribution system and we look forwardto bidding for additional opportunities with other medical networks throughoutthe country."
About China Yongxin Pharmaceuticals, Inc.
Founded in 1993, China Yongxin is one of the leading retailer anddistributor of Chinese traditional medicines, pharmaceutical preparations,natural health products, health food, cosmetics, and medical equipment innortheastern China. Its retail operations began in 2004, and in 2005, itgained franchise rights from one of the world's largest drug chains forChina's Jilin province. By the end of 2007, the Company had become one of thefastest growing drug retailers in China through its retail chain of 93 drugoutlets as well as wholesale distribution and manufacturing operations innortheastern China. For more information about China Yongxin Pharmaceuticals,Inc., please visit http://www.yongxinchina.com .
Forward Looking Statements
This news release contains certain "forward-looking statements."Forward-looking statements are based on current expectations and assumptionsand are inherently subject to risks and uncertainties, some of which cannot bepredicted or quantified, and many of which are beyond the Company's control.The forward-looking statements are also identified through the use of words"believe," enable," "may," "will," "could," "intends," "estimate,""anticipate," "plan," "predict" "probable," "potential," "possible," "should,""continue," "project", "expect" and other words of similar meaning. Actualresults could differ materially from these forward-looking statements as aresult of a number of risk factors detailed in the Company's periodic reportsfiled with the SEC. Given these risks and uncertainties, investors arecautioned not to place undue reliance on such forward-looking statements andno assurances can be given that such statements will be achieved. ChinaYongxin Pharmaceuticals Inc. does not assume any duty to publicly update orrevise the material contained herein.
SOURCE China Yongxin Pharmaceuticals Inc.