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Pingchuan Signs Purchase And Sale Agreement With Sinopharm Medicine Holding Tianjin Co., Ltd



10/19/2005 5:09:24 PM

HARBIN, June 29 /Xinhua-PRNewswire-FirstCall/ -- Pingchuan Pharmaceutical Inc. (''PINGCHUAN'') announced today that it has signed a Purchase and Sale Agreement with Sinopharm Medicine Holding Tianjin Co., Ltd (''SINOPHARM TIANJIN'').

Based on the agreement, PINGCHUAN authorizes SINOPHARM TIANJIN to be its non-exclusive franchisee in the metropolitan area of Tianjin. Also, SINOPHARM TIANJIN will purchase medicines produced by PINGCHUAN, totaling RMB5 million, and provide relevant information on production, marketing, clients, network and promotional activities.

''After signing the contract, we have great confidence in our ability to increase our medicine sales market from our existing market coverage, together with stable growth in sales revenues,'' said Hu Zhanwu, Chairman and President of Pingchuan Pharmaceutical Inc. ''It is a global trend, and an inevitable step, for companies to work together to forge 'strong alliances' in order to reach the goal of becoming an industry giant. This agreement helps to accelerate the speed of our development''.

About Pingchuan Pharmaceutical Inc.

Pingchuan Pharmaceutical Inc. (''PINGCHUAN'') is a modernized pharmaceutical manufacturer with first-class medical R&D abilities, pioneered medicine products, and well-established marketing networks. Since its establishment, PINGCHUAN has focused its businesses on diabetes medicine and its medical products. The products of PINGCHUAN include health care products, varieties of medicine, as well as medical apparatus. Kang Da Glycosuria Capsule is a successful product of PINGCHUAN for treating diabetes, which was first developed in 1998 and introduced to the market in 2001. PINGCHUAN has a well-established marketing network and sale branches, which include about 180,000 retail pharmacies/drugstores across China, agency networks in major cities like Beijing, Shanghai, Guangzhou, and Xi'an, special counter sales at drug chain stores in key regions, residential community clinic sales and promotions, as well as internet marketing through the company's website. The marketing network of PINGCHUAN covers more than 50% of China and exports to the U.S., Japan, Russia, and South-east Asia.

About Sinopharm Medicine Holding Tianjin Co., Ltd

Sinopharm Medicine Holding Tianjin Co., Ltd is grouped under Sinopharm Medicine Holding Group. Its product lines mainly focus on home-made medicine, imported traditional Chinese medicine, imported western medicine and correlative medical products. Sinopharm Tianjin is seized of nearly 100 general agents and regional agents, together with its marketing network presence in over 30 provinces, cities and autonomous regions around the country. The company has established a broad relationship with more than 850 distributors, 560 medical unities and 640 retail drug stores; meanwhile, Sinopharm Tianjin is zealously cooperating with foreign pharmaceutical companies and has successfully built up close partnerships.

Safe Harbor

Information in this news release or on this website may contain statements about future expectations, plans, prospects or performance of Pingchuan Pharmaceutical Inc. that constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. The words or phrases "can be," "expects," "may affect," "believed," "estimate," "project," and similar words and phrases are intended to identify such forward-looking statements. Pingchuan Pharmaceutical Inc. cautions you that any forward-looking information provided by or on behalf of Pingchuan Pharmaceutical Inc. is not a guarantee of future performance. None of the information on this website constitutes an offer to sell securities or investment advice of any kind, and visitors should not base their investment decisions on information contained in this website. Pingchuan Pharmaceutical Inc.'s actual results may differ materially from those anticipated in such forward-looking statements as a result of various important factors, some of which are beyond Pingchuan Pharmaceutical Inc.'s control. In addition to those discussed in Pingchuan Pharmaceutical Inc.'s press releases, public filings, and statements by Pingchuan Pharmaceutical Inc.'s management, including, but not limited to, Pingchuan Pharmaceutical Inc.'s estimate of the sufficiency of its existing capital resources, Pingchuan Pharmaceutical Inc.'s ability to raise additional capital to fund future operations, Pingchuan Pharmaceutical Inc.'s ability to repay its existing indebtedness, the uncertainties involved in estimating market opportunities and, in identifying contracts which match Pingchuan Pharmaceutical Inc.'s capability to be awarded contracts. All such forward-looking statements are current only as of the date on which such statements were made. Pingchuan Pharmaceutical Inc. does not undertake any obligation to publicly update any forward-looking statement to reflect events or circumstances after the date on which any such statement is made or to reflect the occurrence of unanticipated events.

Pingchuan Pharmaceutical Inc.

CONTACT: Xiao Yi of Pingchuan Pharmaceutical Inc., +86-10-6347-0270 x101,or BJ_xiaoji@yahoo.com.cn


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