EX-99.1
2
v052019_ex99-1.txt
[LOGO OMITTED] CHINA BIOPHARMACEUTICALS HOLDINGS
www.cbioinc.com Press Release
--------------------------------------------------------------------------------
FOR IMMEDIATE RELEASE: CONTACT:
Chris Peng Mao, CEO
86-10-8525-1616
info@cbioinc.com
Brian Rafferty
212-889-4350
brian.rafferty@taylor-rafferty.com
China Biopharmaceuticals Announces Termination of Agreement with
Hengyi Pharmaceuticals
BEIJING, China, September 1, 2006 -- China Biopharmaceuticals Holdings, Inc.
(OTC BB: CHBP), a leading Chinese pharmaceutical company focused on the
development, manufacturing and distribution of innovative drugs in China, today
announced that CHBP and the shareholders of Suzhou Hengyi Pharmaceuticals of
Feedstock Co., Ltd. ("Hengyi") have agreed to rescind and terminate the
agreement under which CHBP acquired 75.8 % of the ownership interest of Hengyi.
The consideration of 1,200,000 shares of CHBP's common stock and the additional
capital contribution of $620,000 will be returned to CHBP and CHBP will have no
further obligations to Hengyi or its shareholders. The 75.8% ownership interest
of Hengyi will be returned to its shareholders, and Hengyi will no longer be a
subsidiary of CHBP.
Chris Mao, CHBP CEO stated, "Based on our evaluation of Hengyi's performance, we
have determined that Hengyi does not fit into our future growth strategy. We
have negotiated a successful exit out of Hengyi's line of raw material products
due to low profit margins and limited complementarity to our expanded drug
manufacturing activities. This disposal improves our asset quality and will have
a positive impact on our earnings. This will also make room for future
acquisitions in the field of raw materials and intermediaries with superior
product lines and more complementary products for our recently updated and
expanded downstream manufacture operations. We will continue to improve the
quality of our operating assets. We will use the returned considerations for
other acquisitions and internal capital needs. We will continue to make
appropriate efforts to enhance shareholder value".
About China Biopharmaceuticals Holdings
China Biopharmaceutical Holdings, Inc (CHBP) is a research driven pharmaceutical
company dedicated to the discovery, development, manufacturing and marketing of
small and large molecule pharmaceutical products, including medicines, vaccines,
and active pharmaceutical ingredients for various categories of diseases.
CHBP is a US public company with operating subsidiaries and senior management
based in China.
For further information, please visit our website at www.cbioinc.com.
Safe Harbor Statement
The statements contained herein that are not historical facts are "forward
looking statements" within the meaning of Section 21E of the Securities and
Exchange Act of 1934, as amended, and the Private Securities Litigation Reform
Act of 1995. Such forward-looking statements may be identified by, among other
things, the use of forward-looking terminology such as "believes", "expects,"
"may", "will", "should", or "anticipates" or the negative thereof or other
variations thereon or comparable terminology, or by discussions of strategy that
involve risks and uncertainties. In particular, our statements regarding the
potential growth of the markets are examples of such forward-looking statements.
The forward-looking statements include risks and uncertainties, including but
not limited to, general economic conditions and regulatory developments, not
within our control. The factors discussed herein and expressed from time to time
in our filings with the Securities and Exchange Commission could cause actual
results and developments to be materially different from those expressed or
implied by such statements. The forward looking statements are made only as of
the date of this filing, and we undertake no obligation to publicly update such
forward-looking statements to reflect subsequent events or circumstances.
###

EX - 99 . 1 2 v052019 _ ex99 - 1 . txt [ LOGO OMITTED ] CHINA BIOPHARMACEUTICALS HOLDINGS www.cbioinc.com Press Release -------------------------------------------------------------------------------- FOR IMMEDIATE RELEASE : CONTACT : Chris Peng Mao , CEO 86 - 10 - 8525 - 1616 info@cbioinc.com Brian Rafferty 212 - 889 - 4350 brian.rafferty@taylor-rafferty.com China Biopharmaceuticals Announces Termination of Agreement with Hengyi Pharmaceuticals BEIJING , China , September 1 , 2006 -- China Biopharmaceuticals Holdings , Inc . ( OTC BB : CHBP ) , a leading Chinese pharmaceutical company focused on the development , manufacturing and distribution of innovative drugs in China , today announced that CHBP and the shareholders of Suzhou Hengyi Pharmaceuticals of Feedstock Co . , Ltd . ( " Hengyi " ) have agreed to rescind and terminate the agreement under which CHBP acquired 75 . 8 % of the ownership interest of Hengyi . The consideration of 1,200,000 shares of CHBP 's common stock and the additional capital contribution of $ 620,000 will be returned to CHBP and CHBP will have no further obligations to Hengyi or its shareholders . The 75 . 8 % ownership interest of Hengyi will be returned to its shareholders , and Hengyi will no longer be a subsidiary of CHBP . Chris Mao , CHBP CEO stated , " Based on our evaluation of Hengyi 's performance , we have determined that Hengyi does not fit into our future growth strategy . We have negotiated a successful exit out of Hengyi 's line of raw material products due to low profit margins and limited complementarity to our expanded drug manufacturing activities . This disposal improves our asset quality and will have a positive impact on our earnings . This will also make room for future acquisitions in the field of raw materials and intermediaries with superior product lines and more complementary products for our recently updated and expanded downstream manufacture operations . We will continue to improve the quality of our operating assets . We will use the returned considerations for other acquisitions and internal capital needs . We will continue to make appropriate efforts to enhance shareholder value " . About China Biopharmaceuticals Holdings China Biopharmaceutical Holdings , Inc ( CHBP ) is a research driven pharmaceutical company dedicated to the discovery , development , manufacturing and marketing of small and large molecule pharmaceutical products , including medicines , vaccines , and active pharmaceutical ingredients for various categories of diseases . CHBP is a US public company with operating subsidiaries and senior management based in China . For further information , please visit our website at www.cbioinc.com . Safe Harbor Statement The statements contained herein that are not historical facts are " forward looking statements " within the meaning of Section 21E of the Securities and Exchange Act of 1934 , as amended , and the Private Securities Litigation Reform Act of 1995 . Such forward - looking statements may be identified by , among other things , the use of forward - looking terminology such as " believes " , " expects , " " may " , " will " , " should " , or " anticipates " or the negative thereof or other variations thereon or comparable terminology , or by discussions of strategy that involve risks and uncertainties . In particular , our statements regarding the potential growth of the markets are examples of such forward - looking statements . The forward - looking statements include risks and uncertainties , including but not limited to , general economic conditions and regulatory developments , not within our control . The factors discussed herein and expressed from time to time in our filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed or implied by such statements . The forward looking statements are made only as of the date of this filing , and we undertake no obligation to publicly update such forward - looking statements to reflect subsequent events or circumstances . # # #
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