HOUSTON, Sept. 2, 2004 (PRIMEZONE) -- Eternal Technologies Group, Inc. (OTCBB:ETLT) today issued a new Corporate Profile for the convenience of all shareholders, investors, business partners and other interested parties.
Mr. JiJun Wu, Chairman of Eternal Technologies Group, Inc. commented, "We sincerely hope that this Corporate Profile will allow all interested parties to achieve a better understanding of our business."
Eternal Technologies Group, Inc. is a profitable and leading operator of genetics/animal husbandry operations focused on the application of advanced embryonic transfer techniques to shorten the pregnancy cycles and development time for animals resulting in increased output and profitability. Embryonic transfer is an artificial method of breeding whereby newly formed embryos prior to implantation are removed from a female and transferred into the reproductive tract of another female of the same species where they develop to term. The company markets fine bred animal embryos, breeding stock and breeding services to develop larger, stronger and healthier sheep, beef cattle and dairy cattle.
The industry of animal breeding has changed significantly over the past decades. There is no more important factor to any successful livestock operator than efficient reproduction. Producers who can gradually advance the quality of the offspring while minimizing the interval between first pregnancy and all subsequent pregnancies should achieve high reproductive efficiencies and profitable production.
In 2000, the company imported superior sheep embryos from Australia and carried out the world's first transfer project of 10,000 breeding sheep embryos in China. Since 2000, we have utilized our advanced breeding techniques and have marketed fine bred animal embryos, breeding stock, and breeding services to develop larger, stronger and healthier sheep. In the fourth quarter of 2003, we began the production and sale of lamb meat. Also, in the fourth quarter of 2003, we began application of our advanced breeding techniques to the breeding of higher-yielding purebred Holstein dairy cattle.
Spurred in part by China's entry into the World Trade Organization, the Chinese government has identified improved animal husbandry as a key to meeting the nutritional needs of its population -- the worlds' largest, minimizing the potential adverse environmental impact of its domestic agricultural industry and improving China's position in the import/export of agricultural products. Between 1998 and 2003, real per capita growth in the world increased about 1.2% annually, while China's real per capita real GDP expanded a robust 7.0% per year. In recent years, China's per capita consumption of dairy products has grown dramatically, and the country's domestic producers have been unable to keep pace with the growing demand for dairy products. In addition, a study released by Ryukoku University in Japan has forecast that meat production in China is set to increase significantly over the next 30 years, as China's economy continues to grow and consumers increase consumption of red meat.
As an adjunct to our ongoing genetic engineering research and development activities, we are undertaking efforts to develop pharmaceutical drugs for use in human healthcare. In order to accelerate our entry into the pharmaceuticals market, we have commenced discussions with established pharmaceutical companies in China with a view to a possible acquisition or alliance with one or more companies.
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About Eternal Technologies
Eternal is a major agricultural genetics and biopharmaceutical R&D firm operating in China with the support of the Chinese Government. Eternal's animal breeding division has a strong asset base, cash position and net income. Eternal has become one of China's leading institutions for biopharmaceutical and biotech research, pure breed cultivation and breed stock production. The Company has secured a key market niche by commercializing gene engineering technologies and providing superior breeding stock, allowing China's citizens the ability to improve their living standards. With the world's largest population, a double-digit national growth rate and entry into the WTO, Eternal Technologies has a playing field set for tremendous opportunity. As a prominent player in the agricultural genetics industry, cash in the bank and an untapped market, Eternal has the potential to become a major player in China's national growth.