SHANGHAI, Dec. 13, 2010 /PRNewswire-Asia-FirstCall/ -- China-Biotics, Inc. ("China-Biotics" or "the Company"), (Nasdaq: CHBT) the leading developer, manufacturer and distributor of probiotics products in China, today announced that it has signed 14 new customers for its bulk additives probiotics products.
Among the 14 small to medium sized new customers, one is animal feed manufacturer, five are functional food, nutritional product and pharmaceutical producers, and the remaining eight are dairy companies. As of the end of November, the total bulk customers increased to 51. Approximately 60% of newly signed customers are located in tier one cities such as Beijing, Tianjin etc.
Mr. Jinan Song, Chairman and CEO of China-Biotics, commented, "We believe our success in consistently winning new bulk businesses reflects the proven value of our unique solution that combines our superior proprietary products with value-added customized production service. Following nine-month of mass production and equipment fine-tuning, we are very confident that the safety and stability of our bulk additive products are now becoming our winning ticket to expand market share in China."
About China-Biotics
China-Biotics, Inc. ("China-Biotics" or "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 subsidiaries, Shanghai Shining Biotechnology Co., Ltd. and Growing Bioengineering (Shanghai) Co. Ltd., the Company develops and produces a proprietary product portfolio. Currently, its retail products are sold over the counter, mainly through large distributors, to pharmacies and supermarkets in Shanghai and Jiangsu and Zhejiang provinces. The Company also sells bulk products to institutional customers such as dairy and animal feed producers as well as pharmaceutical companies. In February 2010, China-Biotics began its commercial production in China's largest probiotics production facility to meet the 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," or "continue," 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.
Contact:
Travis Cai
Chief Financial Officer
China-Biotics, Inc.
traviscai@chn-biotics.com
Shiwei Yin/Dixon Chen
Grayling
646-284-9474
shiwei.yin@grayling.com
dixon.chen@grayling.com
