HARBIN, China, March 25 RenhuangPharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang" or the "Company"), adeveloper, manufacturer and distributor of botanical products,bio-pharmaceuticals and traditional Chinese medicines ("TCM") in China, todayannounced that on March 22, 2010, the Company hosted its first bid meetingwith over 200 existing and potential distributors in Hebei Province toevaluate their performance and contribution to Renhuang's operations.
At this meeting, Renhuang's management team discussed its long-termdistribution strategy in Hebei Province and evaluated the performance ofexisting distributors. Based on discussions at the meeting, the Companyreplaced a number of under-performing distributors with new potentialhigh-growth distributors with a track record of strong sales capabilities toensure continued strong growth in line with the Company's expectations.
"We maintain a strong focus on the promotional quality and performance ofour distributors. These periodic meetings with our existing and potentialdistributors throughout China provide the Company with great insight into theoperational efficiency of our distributor network," said Mr. Shaoming Li,Chairman and CEO of Renhuang Pharmaceuticals, Inc. "We believe reorganizingour Hebei distributor network will stimulate innovative marketing programs ofour all-natural medical products and will similarly evaluate our otherdistribution areas during the course of 2010 to support our strategy todeliver sustainable long-term revenue growth."
About Renhuang Pharmaceuticals, Inc.
Renhuang Pharmaceuticals, Inc. is engaged in the research, development,manufacturing, and distribution of botanical products, bio-pharmaceuticalproducts, and traditional Chinese medicines ("TCM"), in the People's Republicof China. All of the Company's products are produced at its threeGMP-certified production facilities in Ah City, Dongfanghong and Qingyang.The Company distributes its botanical anti-depression and nerve-regulationproducts, biopharmaceutical products, and botanical antibiotic and OTC TCMsthrough its extensive distribution network of over 3,000 distributors and morethan 70 sales centers across 24 provinces in China.
Safe Harbor Statement
This press release contains certain statements that may includeforward-looking statements within the meaning of the Private SecuritiesLitigation Reform Act of 1995. Such statements are based upon management'sbeliefs, assumptions and expectations of the Company's future operations andeconomic performance, taking into account the information currently availableto management. These statements are not statements of historical fact.Forward-looking statements involve risks and uncertainties, some of which arenot currently known that may cause actual results, performance or financialcondition to be materially different from the expectations of future results,performance or financial condition expressed or implied in any forward-lookingstatements. These forward-looking statements are based on current plans andexpectations and are subject to a number of uncertainties including, but notlimited to, the Company's ability to continue to effectively promote itsproducts through its distributor network, sales expectations from itsdistributor reorganization efforts, to manage expansion of its operationseffectively, competition in the marketing and sales of its products, and otherfactors detailed in the Company's annual report on Form 10-K and other filingswith the Securities and Exchange Commission. The Company undertakes noobligation to publicly update or revise any forward-looking statements,whether as a result of new information, future events or otherwise. You arecautioned not to unduly rely on such forward-looking statements whenevaluating the information presented herein.For more information, please contact: Company Contact: Renhuang Pharmaceuticals, Inc. Ms. Portia Tan, IR Contact Tel: +86-451-5392-5461 Email: firstname.lastname@example.org CCG Investor Relations: Ms. Lei Huang, Account Manager Tel: +1-646-833-3417 (New York) Email: email@example.com Web: http://www.ccgirasia.com Mr. Crocker Coulson, President Tel: +1-646-213-1915 (New York) Email: firstname.lastname@example.org
SOURCE Renhuang Pharmaceuticals, Inc.