Synutra shares continue to trade under the symbol "SYUT"
QINGDAO, China and ROCKVILLE, Md., April 12 /Xinhua-PRNewswire/ --
Synutra International, Inc. (Nasdaq: SYUT), one of China's leading
manufacturers of dairy-based nutritional products for infants, children and
adults, today announced that it has transferred trading of its common stock
from the OTC Bulletin Board to the NASDAQ Global Market as of April 12, 2007.
Synutra's shares will continue to trade under the present symbol "SYUT"; no
new Synutra shares will be issued in conjunction with this listing.
Members of Synutra's senior management, including Chairman and CEO Liang
Zhang, Chief Operating Officer Weiguo Zhang, Vice President Dr. Willie Wu and
other key members of the management team, will ring the NASDAQ Opening Bell on
May 3, 2007 to mark the company's listing.
"We are proud to take this next step forward in Synutra's development,"
says Synutra Chairman and Chief Executive Officer Liang Zhang. "Our move to
the NASDAQ Global Market will help raise our visibility among institutional
and retail investors alike, broadening and deepening the market for our
shares, and hopefully increasing appreciation for Synutra as an attractive,
value-adding investment."
"Our listing comes at an exciting time for Synutra. Over the first nine
months of this fiscal year, we saw strong revenue growth, led by the success
of our higher margin premium products. Earnings per share grew by 186% to
$0.40 per share for the nine months ended December 31, 2006, as compared to
the same nine months the prior fiscal year. We are confident that Synutra's
strong execution and brand building initiatives will continue to drive growth
and improve the market positioning of our entire product line in 2007,"
concluded Mr. Zhang.
"The NASDAQ is proud to welcome Synutra to our family of listed
companies," said Charlotte Crosswell, President of NASDAQ International.
"Synutra joins a growing number of Chinese companies that have chosen to make
the NASDAQ Global Market their primary trading platform. We look forward to
an excellent partnership with Synutra and its shareholders."
About Synutra International, Inc.
Synutra operates six subsidiaries developing, producing, distributing and
selling dairy-based nutritional products across the People's Republic of
China. It offers its products for infants, children, adults and pregnant women
and nursing mothers under the brand series of "Super," "U-Smart" and "U-
Strong." The Group's extensive sales network covers 24 provinces, 227 cities
and more than 800 counties throughout China. For more information, please
contact Weiguo Zhang of Synutra, Inc. (301 840 3888, wzhang@synutra.com),
Brian Rafferty of Taylor Rafferty (212 889 4350, synutra@taylor-rafferty.com)
or visit: www.synutra.com.
The information contained herein includes forward-looking statements.
These statements relate to future events or to our future financial
performance, and involve known and unknown risks, uncertainties and other
factors that may cause our actual results, levels of activity, performance, or
achievements to be materially different from any future results, levels of
activity, performance or achievements expressed or implied by these forward-
looking statements. You should not place undue reliance on forward-looking
statements since they involve known and unknown risks, uncertainties and other
factors which are, in some cases, beyond our control and which could, and
likely will, materially affect actual results, levels of activity, performance
or achievements. Any forward-looking statement reflects our current views
with respect to future events and is subject to these and other risks,
uncertainties and assumptions relating to our operations, results of
operations, growth strategy and liquidity. We assume no obligation to
publicly update or revise these forward-looking statements for any reason, or
to update the reasons actual results could differ materially from those
anticipated in these forward-looking statements, even if new information
becomes available in the future. The safe harbor for forward-looking
statements contained in the Securities Litigation Reform Act of 1995 protects
companies from liability for their forward looking statements if they comply
with the requirements of the Act.