ITS LOOKING GOOD.
CHINA STOCK HAS BEEN ON THE RISE.
Leading Chinese Biotech to Apply For Listing On Primary U.S. Stock Exchange
Monday December 8, 9:55 am ET
HONG KONG, Dec. 8 /PRNewswire-FirstCall/ -- It was announced today that American Oriental Bioengineering Inc. (OTC: AOBO - News) would apply for a full listing on one of the primary U.S. stock exchanges over the next few weeks. This would most likely be the Nasdaq Small Cap Market or the American Stock Exchange.
The move follows a recent Board of Directors meeting where it was determined such a listing would be a logical step given the company's strong business fundamentals, profitability, outlook for 2004 and expected demand for products in the company's pipepline. In addition, the Board indicated it believes a listing on one of the primary U.S. stock exchanges would help increase shareholder value by providing liquidity and a more credible, stable trading environment, and a more valuable currency for acquisitions.
On November 17, 2003, American Oriental Bioengineering reported a 92 percent jump in revenues to $14.8 million for the first nine months of 2003, with net income for the first nine months surging 320% to $3.7 million, or $0.13 per share.
In a press release on that date, the Company's CEO, Shujun Liu, noted, "We continue to achieve record growth in our core biotechnology revenues, while improving our profitability and strengthening our balance sheet." Liu went on to comment, "As we look ahead to the current fourth quarter, we are very optimistic about our prospects. Demand continues to accelerate and American Oriental Bioengineering has the financial backing, medical research expertise, and proven management team needed to execute on our growth plan. Overall, we expect to achieve record revenue and net profit growth for the full year 2003."
About American Oriental Bioengineering, Inc.
American Oriental Bioengineering, Inc. (OTC: AOBO - News) is a leading Chinese biotechnology company that uses proprietary processes for producing soybean protein peptide more efficiently than traditional extracting techniques. These techniques are used to manufacture and formulate supplemental and medicinal products. Soybean peptides are used widely in general food, health food products and medicines, among other applications. For more information visit www.bioaobo.com.
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As always, do your own DD.~~