Qilian International Holding Group Limited Enters into Investment Agreement for Pig By-product Processing Project in Chongqin...
09 Julio 2021 - 7:00AM
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., has entered
into an investment agreement (the "Agreement") with Chongqing Jin
Tong Industrial Construction Investment Co. Ltd. (“CJT”) on July 5,
2021, for the construction of a pig by-product processing facility
(the “Project”) in Chongqing.
The Project is designed to cover an area of
about 50 mu (approximately 8.24 acres), with a total investment of
RMB540 million (approximately USD83.6 million) and is expected to
reach a target annual production capacity of 10 tons of heparin
sodium preparations within three years, the value of which being
more than RMB500 million (approximately USD77.4 million). The
Project is expected to receive preferential policies from the
government at the national, municipal and local levels.
Mr. Zhanchang Xin, Chairman and CEO of the
Company, commented, “We are very pleased to work with CJT on the
Project. As a key area for pig breeding and pork production in
China, Chongqing has sufficient raw materials for the production of
heparin sodium preparations. This is the reason we decided to
launch the Project there. This move is also in line with our growth
strategy of expanding the production line of heparin sodium
preparations. The Project, once completed and operational, is
expected to increase our production capability of heparin sodium
preparations to 10 tons within three years.”
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
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