BOCA RATON, Fla., Sept. 28, 2004 (PRIMEZONE) -- Sunwin International Neutraceuticals, Inc. (OTCBB:SUWN), an industry leader in distribution and manufacturing of Chinese herbs, veterinary medicines and natural sweetener in China, announced today that the Board of Directors has approved to apply for the listing on the American Stock Exchange.
The move follows a recent Board of Directors meeting where it was determined such a listing would be a logical step given the company's strong business fundamentals, profitability outlook for 2005 and expected demand for products in the company's pipeline. In addition, the Board indicated it believes a listing on one of the primary U.S. stock exchanges would help increase shareholder value by providing liquidity and a more credible, stable trading environment, and a more valuable currency for acquisitions. The Board of Directors has authorized its US financial advisors to initiate the application process.
The Company's CEO, B Baozhong Yuan, noted, "We continue to achieve record growth in our core business revenues, while improving our profitability and strengthening our balance sheet." Mr. Yuan went on to comment, "As we look ahead to the current fiscal year, we are very optimistic about our prospects. Demand continues to accelerate and Sunwin International has the financial backing, medical research expertise, and proven management team needed to execute on our growth plan. Overall, we expect to achieve record revenue and net profit growth for the full year 2005."
About Sunwin International Neutraceuticals, Inc.
Sunwin International Neutraceuticals, Inc. ("Sunwin") is engaged in the areas of essential traditional Chinese medicine, 100% organic herbal medicine, nutraceutical products, natural sweetener (beet sugar), and animal medicine prepared from 100% organic herbal ingredients. As an industry leader in agricultural processing, Sunwin has built an integrated global firm with the sourcing and production capabilities to meet the needs of consumers throughout the world. Sunwin also makes such value-added products as specialty veterinary food ingredients and specialty feed ingredients. The Sunwin family works closely with consumers to provide a quality, value, and a hybrid mix of agricultural products and services that meet growing demand. In 2002, Sunwin was recognized as one of the first 2,000 state-level companies that China authorized as the most important innovative high-tech pioneer businesses by the Chinese central government. In 2002, Sunwin was awarded as one of 2002 state-level biological product manufacturers in China. In 2003, Sunwin ranked as one of the top 50 companies of China Animal Related Health Care Product Pharmaceutical Industry. In 2003, Sunwin received award of Shandong Top-Ten Innovative, High-Tech Businesses by the Province Government of Shandong. For more information about Sunwin, please visit http://www.shengwang.com.
Safe Harbor Statement
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