HAIKOU, China, May 6 /Xinhua-PRNewswire/ -- Following the change of its name from TS. Electronics, Inc. (BULLETIN BOARD: TSET) to China Pharma Holdings, Inc., China Pharma has announced that effective May 4th the company's stock will be quoted on the OTCBB under the new symbol "CPHI.OB."
China Pharma was initially incorporated in Delaware and known as TS Electronics. On June 16, 2005, Onny Investment ("Onny") acquired all the equity interests of Helpson Bio-pharmaceutical Co., Ltd ("Helpson"), a bio- pharmaceutical company in China. On October 19, 2005 China Pharma completed a reverse acquisition transaction with Onny and simultaneously raised $5 million, which transaction is recognized as APO(SM). Following the APO(SM) transaction, China Pharma changed its name to better reflect the core business of the company.
Zhilin Li, the Company's Chief Executive Officer, commented, "The Company's name change to China Pharma, Inc. portrays a much more precise description of our business. As one of the leading BioPharmaceutical companies in China, our products are sold throughout the country. However, we are still a new entity to foreign investors. We believe that the name change is the first step in gaining a greater understanding and recognition of our company in the US public equity markets."
About China Pharma Holdings, Inc.
China Pharma Holdings Inc. is a U.S. public company on the OTCBB, which, through Onny, wholly owns Helpson Pharmaceuticals. Headquartered in Haikou City, HaiNan province in China, Helpson Pharmaceuticals is a specialty bio-pharmaceutical company that develops, manufactures, and markets a broad array of generic and brand products. Helpson's products are marketed in China and are used to fight against Infections, Cardiovascular, CNS and other prevailing diseases.
FORWARD LOOKING STATEMENTS
This release contains certain "forward-looking statements" relating to the business of China Pharma and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes, expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including all business uncertainties relating to product development, marketing, regulatory actions or delays, the ability to obtain or maintain intellectual property protection, market acceptance, third party reimbursement, future capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. China Pharma is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
