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Pingchuan Signs Purchase Agreement With Guangdong Medicine
Group
HARBIN, China, July 11 /Xinhua-PRNewswire-FirstCall/ -- Harbin Pingchuan
Pharmaceutical Holding Co. Ltd. (OTC:PGCN) (BULLETIN BOARD: PGCN)
('PINGCHUAN') announced today that PINGCHUAN signed a Purchase Agreement with
the Guangdong Medicine Group Co. Ltd. ('GDMG').
Under the terms of the agreement, PINGCHUAN will authorize GDMG as its
franchisee in five southern provinces of China. With respect to the
authorization, GDMG intends to purchase approximately US$2.00million worth of
PINGCHUAN's pharmaceutical products in 2005. By cooperating with GDMG,
PINGCHUAN will greatly enhance the marketing network and sales channels in
Southern China.
'We are delighted to reach this agreement with the leading medical enterprise
in Southern China. This purchase agreement not only increases our sales
revenue in these five provinces, but also substantially improves our brand
awareness in Southern China. While maintaining the existing marketing network,
we are developing and setting up new marketing network and sales channel
actively.' Said Hu ZhanWu, Chairman and President of Pingchuan Pharmaceutical
Co. Ltd., 'One of our marketing strategies is to establish a connection with
medical enterprises such as Guangdong Medicine Group, for the promotion of our
products into their commercial networks throughout the entire country.'
About Pingchuan Pharmaceutical Inc.
Pingchuan Pharmaceutical Inc. ('PINGCHUAN') is a modernized pharmaceutical
manufacturer with first-class medical R&D abilities, pioneered medicine
products, and well-established marketing networks. Since its establishment,
PINGCHUAN has focused its businesses on diabetes medicine and its medical
products. The products of PINGCHUAN include health care products, varieties of
medicine, as well as medical apparatus. Kang Da Glycosuria Capsule is a
successful product of PINGCHUAN for treating diabetes, which was first
developed in 1998 and introduced to the market in 2001. PINGCHUAN has a
well-established marketing network and sale branches, which include about
180,000 retail pharmacies/drugstores across China, agency networks in major
cities like Beijing, Shanghai, Guangzhou, and Xi'an, special counter sales at
drug chain stores in key regions, residential community clinic sales and
promotions, as well as internet marketing through the company's website. The
marketing network of PINGCHUAN covers more than 50% of China and exports to the
U.S., Japan, Russia, and South-east Asia.
About Guangdong Medicine Group Co. Ltd.
Guangdong Medicine Group Co. Ltd. (GDMG) is a large-scale state-owned
pharmaceutical enterprise headquartered in Guangzhou. It owns a nationwide
marketing network, which includes the operative places and outlet stores of
130,000 square meters and 330 Bencao Medicine Chain Stores. GDMG also runs
three pharmaceutical enterprises, and controls 20 associate enterprises.
According to the latest statistics, the sales revenue for the first two months
in 2005 of GDMG ranked No.1 in China. The company successfully caught up with
and, surpassed the performance of its main rivals such as Harbin Pharmaceutical
Group, North China Pharmaceutical Group and Yangtze River Pharmaceutical Group.
Safe Harbor
Information in this news release or on this website may contain statements
about future expectations, plans, prospects or performance of Harbin Pingchuan
Pharmaceutical Holding Co. Ltd. that constitute forward-looking statements for
purposes of the safe harbor provisions under the Private Securities Litigation
Reform Act of 1995. The words or phrases "can be,' "expects,' "may affect,'
"believed,' "estimate,' "project,' and similar words and phrases are
intended to identify such forward-looking statements. Harbin Pingchuan
Pharmaceutical Holding Co. Ltd. cautions you that any forward- looking
information provided by or on behalf of Harbin Pingchuan Pharmaceutical Holding
Co. Ltd. is not a guarantee of future performance. None of the information on
this website constitutes an offer to sell securities or investment advice of
any kind, and visitors should not base their investment decisions on
information contained in this website. Harbin Pingchuan Pharmaceutical Holding
Co. Ltd.'s actual results may differ materially from those anticipated in such
forward-looking statements as a result of various important factors, some of
which are beyond Harbin Pingchuan Pharmaceutical Holding Co. Ltd.'s control.
In addition to those discussed in Harbin Pingchuan Pharmaceutical Holding Co.
Ltd.'s press releases, public filings, and statements by Harbin Pingchuan
Pharmaceutical Holding Co. Ltd.'s management, including, but not limited to,
Harbin Pingchuan Pharmaceutical Holding Co. Ltd.'s estimate of the sufficiency
of its existing capital resources, Harbin Pingchuan Pharmaceutical Holding Co.
Ltd.'s ability to raise additional capital to fund future operations, Harbin
Pingchuan Pharmaceutical Holding Co. Ltd.'s ability to repay its existing
indebtedness, the uncertainties involved in estimating market opportunities
and, in identifying contracts which match Harbin Pingchuan Pharmaceutical
Holding Co. Ltd.'s capability to be awarded contracts. All such forward-looking
statements are current only as of the date on which such statements were made.
Harbin Pingchuan Pharmaceutical Holding Co. Ltd. does not undertake any
obligation to publicly update any forward-looking statement to reflect events
or circumstances after the date on which any such statement is made or to
reflect the occurrence of unanticipated events.
DATASOURCE: Pingchuan Pharmaceutical Inc.
CONTACT: Xiao Yi of Pingchuan Pharmaceutical Inc., +86-10-6347-0270
x101, or