HARBIN, China, March 25 /PRNewswire-Asia/ -- Renhuang Pharmaceuticals, Inc. (Pink Sheets: RHGP) ("Renhuang" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM") in China, today announced that on March 22, 2010, the Company hosted its first bid meeting with over 200 existing and potential distributors in Hebei Province to evaluate their performance and contribution to Renhuang's operations.
At this meeting, Renhuang's management team discussed its long-term distribution strategy in Hebei Province and evaluated the performance of existing distributors. Based on discussions at the meeting, the Company replaced a number of under-performing distributors with new potential high-growth distributors with a track record of strong sales capabilities to ensure continued strong growth in line with the Company's expectations.
"We maintain a strong focus on the promotional quality and performance of our distributors. These periodic meetings with our existing and potential distributors throughout China provide the Company with great insight into the operational efficiency of our distributor network," said Mr. Shaoming Li, Chairman and CEO of Renhuang Pharmaceuticals, Inc. "We believe reorganizing our Hebei distributor network will stimulate innovative marketing programs of our all-natural medical products and will similarly evaluate our other distribution areas during the course of 2010 to support our strategy to deliver 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-pharmaceutical products, and traditional Chinese medicines ("TCM"), in the People's Republic of China. All of the Company's products are produced at its three GMP-certified production facilities in Ah City, Dongfanghong and Qingyang. The Company distributes its botanical anti-depression and nerve-regulation products, biopharmaceutical products, and botanical antibiotic and OTC TCMs through its extensive distribution network of over 3,000 distributors and more than 70 sales centers across 24 provinces in China.
Safe Harbor Statement
This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management's beliefs, assumptions and expectations of the Company's future operations and economic performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company's ability to continue to effectively promote its products through its distributor network, sales expectations from its distributor reorganization efforts, to manage expansion of its operations effectively, competition in the marketing and sales of its products, and other factors detailed in the Company's annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating 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: ir@renhuang.com
CCG Investor Relations:
Ms. Lei Huang, Account Manager
Tel: +1-646-833-3417 (New York)
Email: lei.huang@ccgir.com
Web: http://www.ccgirasia.com
Mr. Crocker Coulson, President
Tel: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
