HARBIN, China, June 7, 2012 /PRNewswire-Asia/ -- China Botanic Pharmaceutical Inc. (NYSE AMEX: CBP) ("China Botanic" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and Traditional Chinese Medicines ("TCM") in China, today announced that the Company recently co-sponsored and attended the Second Plenary Meeting of the Science and Technology Committee of the Wild Plant Protection Association of China in Beijing, organized by China's State Forestry Administration.
China Botanic was the only corporate co-sponsor and attendee at the meeting, which was dominated by government authorities, academic institutions and media. Participation in the meeting qualifies the Company to apply for leading the establishment of the Siberian Ginseng Conservation Association (SGCA), which is to be under the supervision of the State Forestry Administration. Becoming the leader of the newly-established SGCA would both strengthen China Botanic's dominant position in the Siberian Ginseng market and give it a say in any future consolidation of the Ginseng industry.
In recent years, China Botanic has worked closely with local forestry authorities to tap local Siberian Ginseng resources, and now controls approximately 80% of the Siberian Ginseng resources in Heilongjiang Province, or over 70% of the Siberian Ginseng resources in China.
"We are very pleased that we were the only company invited to co-sponsor and attend the meeting, which is a strong demonstration of the Company's proven status in the research and development of Siberian Ginseng based pharmaceuticals, and its leading position in Ginseng resource development, active ingredient extraction technology and Ginseng-based products," commented Mr. Shaoming Li, Chairman and Chief Executive Officer of China Botanic. "Our sponsorship and attendance provides an opportunity for the Company to promote the conservation of wild Siberian Ginseng resources, while enhancing our brand awareness and corporate image."
ABOUT CHINA BOTANIC PHARMACEUTICAL INC.
China Botanic Pharmaceutical 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 network of over 3,000 distributors and over 70 sales centers across 24 provinces in China. For more information, please visit www.renhuang.com.
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 financial 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 manage expansion of its operations effectively, 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.
SOURCE China Botanic Pharmaceutical Inc.