ORLANDO, Fla., March 29 /PRNewswire-FirstCall/ -- China Bio Health Group, Inc. (OTC Pink Sheets: CBHL) today announced that the Company’s net profit of US$346,031 in 2004 is an increase in net profits of 25.6% over 2003 net profit of US$275,447.
Mr. Xinmin Zhang, Chairman and President, said, “China Bio Health Group’s marketing strategy, in managing our 40,000m flagship complex in Chengdu, has worked very well. Our plan during 2005 is to enter into management agreements with other sports centers in China.”
Chengdu has more than ten million people and is the capital of Sichuan province, one of China’s most affluent, politically influential and culturally significant regions. The sports facility is the only large-scale multi- functional facility in Chengdu offering a comprehensive range of sports, leisure and catering facilities. The health complex has sports, recreational and leisure facilities, including: tennis courts, squash courts, a table tennis pavilion, swimming pool, a therapeutic parlor, a clubhouse and a restaurant.
Mr. Zhang said, “We are also finalizing our plans to enter the untapped elder care industry and seek management contracts and acquisition opportunities. With a market of 150 million seniors that will grow to over 275 million in just one generation, elder care is a significant problem throughout china.”
An example of the shortage of elder care bed space can be seen in Beijing, whose elder care centers can accommodate only 9,924 people -- just 0.6% of the senior population. With longer life expectancy, growing affluence and the effects of China’s stringent “one child” family planning policy leaving the elderly with a child unable or unwilling to care for them, the Chinese government recently adopted a new regulation to encourage private and foreign investment in building elderly care centers.
For more information, please call Mr. K. S. Lai at 852-25278378, fax 852-21520612 or email to cbhl_rong_d@yahoo.com.hk.
Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995: The statements in the press release that relate to the company’s expectations with regard to the future impact on the company’s results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur.
China Bio Health Group, Inc.
CONTACT: Mr. K. S. Lai, China Bio Health Group, Inc., +011-852-25278378,or fax, +011-852-21520612, or cbhl_rong_d@yahoo.com.hk