BEIJING, Nov. 13 /Xinhua-PRNewswire/ -- The directors of Sunrise Biotech Holding Limited (“Sunrise” or the “Company”), a leading producer of organic mulberry-based products in China, are pleased to announce the Company has applied for the admission of its entire ordinary share capital for trading on the 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
OVERVIEW
Sunrise Biotech Holding Limited is a recently formed holding company incorporated in Jersey that owns 100% of the total share capital of Beijing Sunrise, which, in turn, owns 100% of the total share capital of Hebei Sunrise (together “the Group”). Founded January 2005, Beijing Sunrise develops and produces organic mulberry-based products from three locations in the Yongledian Region of Beijing. Hebei Sunrise, founded May 2005, operates from one location in the Hebei region of China. Currently, the Company’s product range is focused on the production of 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.
The Group’s production base currently consists of over 3,100 acres of leased land, which produces an annual mulberry leaf capacity of 24,000 tons. In 2006, the Company generated net profits of GBP1,432,72.
ANTICIPATED ADMISSION
Yonghu Li, chairman of Sunrise Holding Ltd., commented: "The Admission on the PLUS market represents a significant development for the Company which has the potential to improve its corporate governance and raise funds for its future development."
Fortunes Capital, one of the renowned financial advisory firms, has led in the listing process. Steve Wayne, president of Fortunes Capital (China), said: “Sunrise Biotech is a unique company with great potential for growth, which is one of few companies to advocate mulberry-based food and healthcare solutions. Sunrise is establishing its leading stand in this market segmentation of China biotech Industry.”
Trading in the Company’s shares on PLUS is expected before the end of December 2007. An announcement will be loaded onto the PLUS official website in the near future.
