China Health Resource Announces Results of the Latest DAR General Session
Mr. Jiayin Wang of CHRI is re-elected and Signing of LOI of Transferring of Rural Land marks significant milestone and strengthen geographical franchise protection
SUINING, Sichuan, China, Nov. 1, 2011 /PRNewswire-Asia/ -- China Health Resource, Inc. (OTCBB: CHRI), through its wholly owned subsidiary Suining Yinfa DAR Industrial Co, Ltd (Yinfa), announced that CHRI's Chairman and CEO, Mr. Jiayin Wang was re-elected as the Chairman of DAR Association in the 2011 session of the Dahurian Angelica Root Association of Suining City (DAR Association) held on October 26, 2011, with the attendance of many government officials. In the General Session, The DAR Association is a cooperative of over 100,000 farmers of Dahurian Angelica Root (DAR) that seek to pool their collective resources to provide economic and productivity benefits to its DAR farmer members that use the company developed GAP DAR standard of quality.
Yinfa and most of the members of the DAR association signed the LOI of transfer of rural land agreement. The definitive agreements will be followed totaling with approximately 15,000 mu area of planting land that generates about 6,500 tons of pharmaceutical grade DAR. DAR association members agree on adopting CHRI's GAP standards for DAR in order to achieve industrial-scale cultivation and production of DAR while still maintaining high product standard. DAR is a key necessary and indispensable ingredient for many pharmaceutical and TCM products.
"Today marks a significant milestone for CHRI. The land transfer allows stronger protection of our geographical franchise and enhances our unique 'Suining Chuan DAR' trademark and brand as the standard DAR for the pharmaceutical industry in China. In addition, this agreement allows the Company to meet requirement for certain tax exemptions under the Provincial Dragonhead Enterprise status recently received by Company. This exemption will represent a further improvement in our net profit margins from the high margins we already enjoy. As such the Company is in line to surpass 2010 numbers," said Jiayin Wang, CEO of CHRI.
Wang added: "This milestone establishes the company as the leader in setting international standards under GAP for DAR, a process that has taken over a decade and clearly sets CHRI apart from other producers. We intend to capitalize on this significant milestone by leading the adoption of GAP for other TCM as well."
About CHRI
China Health Resource, Inc. engages in the development, manufacturing, processing, marketing and sale of Dahurian Angelica Root (DAR) and is only the provider of GAP quality product in the People's Republic of China under the registered Trademark Chuan Baizhi™. DAR, which is also known as "Bai Zhi" in Mandarin Chinese, is an herb that is employed as an ingredient in medicine, cosmetics and food, as well as used in TCM for the treatment of pain, swelling and pustule. The Company's DAR-related products include the Bailing Capsule, Yisheng Capsule, Kimchee-Mate and Fragrant Bag, all of which are sold through regional distributors. The Company was founded in 2001 and is based in Suining, Sichuan Province
Certain statements in this document regarding financial matters, other than historical facts, and statements of our expectations, intentions, plans and beliefs, constitute "forward-looking statements" within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, that are subject to certain events, risks and uncertainties that may be outside our control. The words "believe", "expect", "anticipate", "optimistic", "intend", "will", and similar expressions identify forward-looking statements. The company intends that such proclamations about future expectations, including future revenues and earnings, future business expansion plans, and all other forward-looking statements be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties and are subject to change at any time, the Company's actual results may differ materially from expected results. These and other risks and uncertainties related to our business are described in greater detail in our filings with the Commission. The foregoing information should be read in conjunction with these filings. We disclaim any intention or obligation to update or revise any forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made.
SOURCE China Health Resource, Inc.
WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?
Newsrooms &
Influencers
Digital Media
Outlets
Journalists
Opted In
Share this article