Jiuquan, China, Aug. 05, 2021 (GLOBE NEWSWIRE) -- Qilian International Holding Group Limited (Nasdaq: QLI) (the “Company”), a China-based pharmaceutical and chemical products manufacturer, today announced that the Company, through its PRC subsidiary Chengdu Qilianshan Biotechnology Co., Ltd. (“Chengdu QLS”), entered into an agreement (the “Agreement”) with Chongqing Tongnan District Government (“CTDG”). Pursuant to the Agreement, the Company’s new pig by-product processing facility (the “Project”) will be located in Tongnan High-tech Zone. CTDG agrees to provide the Company with preferential policies and support funds.
The Company chose to locate the Project in Tongnan High-tech Zone as it plans to increase its R&D efforts to boost the production of heparin sodium preparations. The Company expects to generate additional income from this Project.
Since 2020, the Company's heparin sodium industrialization development plan has received high attention from local and neighboring local governments. In March 2021, the Project was listed as one of key investment projects by Chongqing Tongnan High-Tech Zone. In June, the management of the Company was invited to Suining, Tongnan - Sichuan Chengdu Adjacent Areas of Integrated Development of Global Investment Promotion Conference, which was co-sponsored by Sichuan Provincial People's Government and Chongqing Municipal People's Government, during which the Company reached a preliminary agreement with CTDG for future cooperation.
Located in Chengdu, Sichuan Province, Chengdu QLS has been producing Heparin Sodium Preparations and Zhu Xiaochang® sausage casings since 2015, relying on the advantages of the extremely rich pig breeding resources in Sichuan and Chongqing. In recent years, with increasing research and development capability, maturing production technology and expanding production and sales volume, Chengdu QLS have expanded the market share of its heparin sodium products and become a growing driver of the Company’s business operations.
The Company’s core product Heparin Sodium Preparations is one kind of Heparin, which widely used for anticoagulant and antithrombotic purposes globally. Cardiovascular and cerebrovascular diseases have become some of the leading causes of death globally. Heparin is considered to have a good performance in the treatment of more than 40 diseases in 12 clinical disciplines such as hematological disorders, heart disease, extracorporeal circulation surgery, and blood purification therapy. The market size of anticoagulants around the globe is growing rapidly with huge potential. According to Global Anticoagulant Drugs Market Size, Manufacturers, Supply Chain, Sales Channel and Clients, 2021-2027 published by ReportsnReports, the market size of anticoagulants around the globe in 2020 was US$28,690 million and it is expected to reach US$38,850 million by the end of 2027, with a compound annual growth rate of 4.8% from 2021 to 2027.
Mr. Zhanchang Xin, Chairman and CEO of the Company, commented, “The landing of the Project is an important step in the strategic layout of the Company's industrial development. The Company will focus on the Project with its research and development results and understanding of the industry, scale up its production, and lay a solid foundation for entering into the market of low-molecular heparin raw materials, which has higher added value and development potential.”
About Qilian International Holding Group Limited
Qilian International Holding Group Limited, headquartered in Gansu, China, is a pharmaceutical and chemical products manufacturer in China. It focuses on the development, manufacture, marketing and sale of licorice products, oxytetracycline products, traditional Chinese medicine derivatives product, heparin product, sausage casings, and fertilizers. The Company’s products are sold in more than 20 provinces in China. For more information, visit the company’s website at http://ir.qlsyy.net/.
Forward-Looking Statements
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. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, financial needs and the successful construction of the pig by-product processing project facility. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or 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, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and in its other filings with the SEC.
For more information, please contact:
Qilian International Holding Group Limited
Email: ir@qlsyy.net
Ascent Investors Relations LLC
Tina Xiao
President
Phone: 917-609-0333
Email: tina.xiao@ascent-ir.com