SHENZHEN, China, Sept. 25 /PRNewswire-Asia/ -- Winner Medical Group Inc. (OTC Bulletin Board: WMDG; "Winner Medical", or the "Company"), a leading exporter of medical dressings and medical disposables in China, today announced that its subsidiary, Winner Industries (Shenzhen) Co., Ltd., "Winner Shenzhen", has been awarded a Class AA Customs Management Enterprise status by the General Administration of Customs of PRC.
Class AA Customs Management Enterprise status is the highest level of achievement awarded to long-standing enterprises with standardized operations and highly reliable customs declaration credit. Due to this new awarded status, Winner Medical can enjoy a vast amount of convenient services for customs clearance purposes, including: expedited clearance facilitation, exemption from customs examinations and processing by dedicated customs officers to accelerate all import or export aspects of the Company’s business. This status is especially important for Winner Medical’s export market, which comprises more than 80% of Winner Medical’s total revenues in FY2008.
"The recognition of Class AA Customs Management Enterprise status reflects our spotless record and reputation for reliability and trustworthiness by the General Administration of Customs," said Jianquan Li, Chief Executive Officer of Winner Medical. "After obtaining this distinction, it enhances significantly our competition edge in respect of supply capacity, international trade expansion and cost control . This is a key building block for our future growth and we believe it will significantly maintain and enhance our premier position as exporter of medical dressings and medical disposables in China."
About Class AA Customs Management Enterprise
The General Administration of Customs of the PRC divides related enterprises into five management categories, i.e. AA, A, B, C and D, from the highest classification to the bottom. Application criteria for Category AA: After existing as a Category A enterprise for more than one year; having import and export value exceeding USD30,000,000 for the preceding year; having undergone special customs verifications and checks for operational management and trade security. Criteria for Category A: Having a continuous record for one year of not being involved in smuggling or unlawful behavior; no administrative penalty having been imposed for importing and exporting goods that violated intellectual property rights; not being in arrears of duties, fees or penalty; customs declaration error rate of less than 3% last year, etc. Under the relevant customs policy, Class AA enterprises can enjoy the following benefits: customs release with trust, in particular, appointed customs officials will settle difficulties in customs affairs; on-site inspection and release for re-verification; inspection and release formalities upon electronic inspection and verification of EDI customs declaration form; customs passage without opening trunk for inspection, and so forth. All these beneficial treatments enable Winner Medical to take advantage of a more simplified customs declaration procedure.
About Winner Medical
Winner Medical is a leading manufacturer in the medical dressing industry (medical and wound care products) in China. Headquartered in Shenzhen, the Company has seven wholly-owned operating subsidiaries and four joint-ventures with over 5,000 employees. The Company engages in the manufacturing, sale, research, and development of medical care products, wound care products, home care products and PurCotton products, a nonwoven fabric made from 100% natural cotton. The products are sold worldwide, with Europe, the United States and Japan serving as the top three markets. The Company currently holds 50 patents and patent applications for various products and manufacturing processes and is one of the few Chinese companies licensed by the U.S. Food and Drug Administration (FDA) to ship finished, sterilized products directly to the United States market. To learn more about Winner Medical, please visit Winner Medical’s web site at http://www.winnermedical.com .
Forward-Looking Statements
This press release contains certain statements that may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact included herein are "forward-looking statements" including statements regarding Winner Medical and its subsidiary companies’ business strategy, plans and objective and statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. Although Winner Medical believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. Winner Medical’s actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in Winner Medical’s periodic reports that are filed with and available from the Securities and Exchange Commission. All forward-looking statements attributable to Winner Medical or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, Winner Medical does not assume a duty to update these forward-looking statements.
For more information, please contact:
Investor Relations Contact:
Peng Zhai
Assistant Manager, Investor Relations
Winner Medical Group Inc.
Tel: +86-755-2806-6858
Email: investors@winnermedical.com