XI'AN, China, Dec. 21 Huifeng Bio-PharmaceuticalTechnology, Inc. (OTC Bulletin Board: HFGB), a leading developer and producerof plant extracts and pharmaceutical raw materials for use in pharmaceutical,nutraceutical and food production, today reported that after preliminary duediligence, including review of the company's market potential and developmentopportunities, EquityNet Research is initiating coverage of the company as anindependent analyst.
Founded 10 years ago, the Los Angeles, Calif.-based research firm providesthe investing public with professional, independent, objective research onunder-followed public companies. It does this by preparing detailed researchthat highlights the key aspects of the company and its industry. Two of thefirm's three principals are holders of the Chartered Financial Analyst (CFA)designation.
"Independent research provides a benchmark by which potential investorscan gauge a company's fair value, eliminating such extraneous factors assupply and demand issues," said EquityNet Founder and Senior Equity AnalystRandall Lewis. "And perhaps most importantly, it is a statement by managementto current shareholders and investors that, 'We have enough confidence in ourcompany and future to compensate an independent analyst to perform a fair,accurate valuation of our stock, just like private companies do all the time.'This shows at least that the company feels it has nothing to hide, and hasself-assurance in its business model."
Lewis pointed out that according to a survey by Charles Schwab & Co.,reported in The New York Times, an astonishing 78% of active stockholders now"value research from independent firms over analysis by Wall Street firms withfinancial ties to the companies they are rating..."
EquityNet Research expects to publish its initial coverage of HuifengBio-Pharmaceutical in January 2010.
About Huifeng Bio-Pharmaceutical Technology, Inc. (HFGB)
Huifeng Bio-Pharmaceutical Technology, Inc., located in Xi'an, People'sRepublic of China, develops and produces plant extracts and pharmaceutical rawmaterials for use in pharmaceutical, nutraceutical and food production. It isthe leading Chinese producer of rutin and related plant-derived chemicals in aclass called flavonoids, with medicinal and other beneficial properties inXi'an China. Founded in 2002, Huifeng uses proprietary patented processes toextract rutin more efficiently than traditional extraction techniques. TheCompany is diversifying its product lines through internal development,acquisition and cooperation with scientific research organizations. Additionalinformation is available at the Company's website: http://www.hfgb.cn/
Safe Harbor Statement
This press release may contain forward-looking statements. Thesestatements are based on the current expectations or beliefs of the Company'smanagement and are subject to a number of factors and uncertainties that couldcause actual results to differ materially from those described in the forward-looking statements, including but not limited to the fluctuation of prices ofraw materials, the market demand for our products, changes in governmentalregulations and/or economic policies and our ability to penetrate new markets.For more information, please contact: Tom Gavin Investor Relations Network Phone: +1-951-845-1112 Email: [email protected]
SOURCE Huifeng Bio-Pharmaceutical Technology, Inc.