SHANGHAI, Aug. 26 /PRNewswire-Asia-FirstCall/ -- China-Biotics, Inc. ("China-Biotics," the "Company") (Nasdaq: CHBT), a leading developer, manufacturer and distributor of probiotics products in China, today announced that the Company is ranked 62nd on FORTUNE's 2010 "Fastest-Growing Companies" list.
FORTUNE'S 100 Fastest-Growing Companies list includes foreign and domestic companies traded on a major U.S. stock exchange with annual revenue and net income of at least $50 million and $10 million, respectively, a market capitalization over $250 million, and significant revenue and earnings growth over recent quarters, among other criteria.
Mr. Jinan Song, Chairman and Chief Executive Officer of China-Biotics, commented, "We are honored to have been distinguished by FORTUNE as one of this year's 100 Fastest-Growing Companies. The long-term growth prospect of our business model is gaining traction within the global professional investment community. In a recent speech, Minister of Health of China, Mr. Zhu Chen, emphasized the need to minimize the excessive reliance on antibiotics. The government has endorsed the use of probiotics as an alternative. We believe probiotics present a viable long-term solution to address the antibiotics overuse while simultaneously improving the Chinese people's overall health level."
The related stories appear in the September 6, 2010 issue of FORTUNE, available on newsstands on Monday, August 23rd or through the internet at: http://money.cnn.com/magazines/fortune/fortunefastestgrowing/2010/full_list/
About China-Biotics
China-Biotics, Inc. ("China-Biotics," the "Company"), a leading manufacturer of biotechnology products and supplements, engages in the research, development, marketing and distribution of probiotics dietary supplements in China. Through its wholly owned subsidiary, Shanghai Shining Biotechnology Co., Ltd., the Company develops and produces its proprietary product portfolio, including live microbial nutritional supplements under the "Shining" brand. Currently, the products are sold OTC through large distributors to pharmacies and supermarkets in Shanghai, Jiangsu, and Zhejiang province. In February 2010, China-Biotics began its commercial production in China'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 which involve risks and uncertainties, including statements regarding the Company's capital needs, business strategy and expectations. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements, which may be identified by terminology such as "may," "should," "will," "expect," "plan," "intend," "anticipate," "believe," "estimate," "predict," "potential," "forecast," "project," "continue," or the negative of such terms or other comparable terminology. Readers should not rely 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 be wrong. They can be affected by inaccurate assumptions, risks and uncertainties and other factors which could cause actual events or results to be materially different 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 17 and elsewhere in the Company's 2010 Annual Report on Form 10-K. These factors may cause the Company's actual results to differ materially from any forward-looking statement. In addition, new factors emerge from time to time and it is not possible for the Company to predict all factors that may cause actual results to differ materially from those contained in any forward-looking statements. The Company disclaims any obligation to publicly update any forward-looking statements to reflect events or circumstances after the date of this document, except as required by applicable law.
For more information, please contact:
Travis Cai
Chief Financial Officer
China-Biotics, Inc.
Email: traviscai@chn-biotics.com
Shiwei Yin/Kevin Theiss
Grayling
Phone: +1-646-284-9474
Email: shiwei.yin@grayling.com
kevin.theiss@grayling.com
