XI’AN, China, Jan. 29 /Xinhua-PRNewswire-FirstCall/ -- China Bionanometer Industries Corporation , (“CBIU”, “the Company”), a leading company in bionanometer industry in the People’s Republic of China (“PRC”), today reported record financial results for the second quarter ended June 30, 2007.
“We saw strong growth in our sales as we benefited from the strong economic momentum and increasing awareness of self-care in recent years in China,” said Mr. Chen Min, CEO of the Company, “In addition, we made an important progress in the execution of our strategy as we expanded our distribution channels.”
1. Operating Conditions
(1) Main business revenue
Gross sales for the full year of 2006 reached $2,814,144, an increase of $2,064,289, a 275% increase year-over-year in 2005;
Main business revenue for the first quarter was $1,068,466 in 2007, an increase of $394,961, a 58.64% increase year-over-year in 2006;
Main business revenue for the second quarter was $2,539,658 in 2007, an increase of $840,410, a 133.23% increase year-over-year in 2006.
Gross profit for the full year in 2006 was $1,796,435, an increase of $1,368,577, a 320% increase year-over-year in 2005;
Gross profit for the first quarter was $675,302 in 2007, an increase of $237,604, a 54.28% increase year-over-year in 2006;
Gross profit for the second quarter was $931,199 in 2007, an increase of $517,602, a 125.15% increase year-over-year in 2006;
The main reason for the increase is driven by the growth of the main business revenue.
(3) Profit after tax
Profit after tax for the full year of 2006 reached $690,886, an increase of $771,710, a 955% increase year-over-year in 2005. After tax profit rate reached 24.55%, or $0.01 per share.
Profit after tax for the first quarter reached $442,170 in 2007, an increase of $383,804, a 658% increase year-over-year in 2006, or $0.01 per share.
Profit after tax for the second quarter reached $819,971 in 2007, an increase of $598,815 and a 271% increase year-over-year in 2006.
Meanwhile, we should also consider that the sale of profit return is not yet calculated to the operating expenses ended on June 30, 2007, plus the costs of the $200,000, after-tax profit for the first and second quarter of this year, there is still a significant level of improvement.
Main business revenue for the six months ended June 30, 2007 was $2,539,658, gross profit was $1,606,501 and after-tax net profit was $1,262,141, a 351% increase year-over-year in 2006,or $0.014 per share. The total net cash flow was $2,204,416; net of operating cash flow was $1,475,289.
These data came from the Discussed Draft. PLEASE refer to the final version.
Forward-looking statement
Certain information contained in these materials are “forward-looking” information, such as projections, estimates, pro formas, or statements of intentions, expectations or plans. All forward-looking information are subject to known and unknown risks and uncertainties, many of which are outside of the control of the company. Consequently, actual results may, and probably will, differ materially from the results contemplated in such forward-looking information.
About China Bionanometer Industries Corporation
China Bionanometer Industries Corporation is a high-tech enterprise specialized in the research, development, production and sale of nanometer level health food, cosmetics, biological disinfection products, and traditional Chinese medicine, etc. The company has obtained state authentication for high and new technology enterprises and is also an academician enterprise in the high-tech field. As a high and new technology enterprise that takes scientific research as its base, profiting from the huge benefits brought by technological innovation, the company establishes an efficient scientific research development system that allows the continuation of the pursuit for newer technologies and industrial development by creating a people-orientated and innovative environment that follows the modern management model.
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements, including but not limited to, the Company’s ability to raise additional capital to finance the Company’s activities; the effectiveness, profitability, and the marketability of its products; legal and regulatory risks associated with the share exchange; the future trading of the common stock of the Company; the ability of the Company to operate as a public company; the period of time for which its current liquidity will enable the Company to fund its operations; the Company’s ability to protect its proprietary information; general economic and business conditions; the volatility of the Company’s operating results and financial condition; the Company’s ability to attract or retain qualified senior management personnel and research and development staff; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations, assumptions, estimates and projections about the Company and the industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward looking statements are reasonable, they cannot assure you that their expectations will turn out to be correct, and investors are cautioned that actual results may differ materially from the anticipated results.
CONTACT: Maggie of Xi’an Landway Bionanometer Technology Co., Ltd.,
+86-29-8837-2530, or Maggie@Landway-nano.com, or fax, +86-29-8837-2530
Web site: http://www.Chinabionanometer.com/
