Sunrise Biotech Holding Limited Application For Admission to PLUS
Sunrise Biotech Holding Limited is a recently formed holding companyincorporated in Jersey that owns 100% of the total share capital of BeijingSunrise, which, in turn, owns 100% of the total share capital of Hebei Sunrise(together "the Group"). Founded January 2005, Beijing Sunrise develops andproduces organic mulberry-based products from three locations in theYongledian Region of Beijing. Hebei Sunrise, founded May 2005, operates fromone location in the Hebei region of China. Currently, the Company's productrange is focused on the production of mulberry tea, mulberry leaf powder andtablets for use in food additives and herbal remedies, and mulberry leafpowder and granules for use as animal fodder.
The Group's production base currently consists of over 3,100 acres ofleased land, which produces an annual mulberry leaf capacity of 24,000 tons.In 2006, the Company generated net profits of GBP1,432,72.
Yonghu Li, chairman of Sunrise Holding Ltd., commented: "The Admission onthe PLUS market represents a significant development for the Company which hasthe potential to improve its corporate governance and raise funds for itsfuture development."
Fortunes Capital, one of the renowned financial advisory firms, has led inthe listing process. Steve Wayne, president of Fortunes Capital (China), said:"Sunrise Biotech is a unique company with great potential for growth, which isone of few companies to advocate mulberry-based food and healthcare solutions.Sunrise is establishing its leading stand in this market segmentation of Chinabiotech Industry."
Trading in the Company's shares on PLUS is expected before the end ofDecember 2007. An announcement will be loaded onto the PLUS official websitein the near future.BEIJING, Nov. 14 /Xinhua-PRNewswire/ -- The directors of Sunrise BiotechHolding Limited ("Sunrise" or the "Company"), a leading producer of organicmulberry-based products in China, are pleased to announce the Company hasapplied for the admission of its entire ordinary share capital for trading onthe PLUS Market. LISTING DETAILS SECTOR CLASSIFICATION Biology Technology PRINCIPLE ACTIVITIES The development and production of mulberry tree-based organic products -- namely: mulberry tea, mulberry leaf powder and tablets for use in food additives and herbal remedies, and mulberry leaf powder and granules for use as animal fodder
SOURCE Sunrise Biotech Holding Limited
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