In response to evolving market conditions, Shenzhou Biology & Technology Co. Ltd. (Shenzhou Bio) has announced that it will increase its price on Coenzyme Q10 (CoQ10 as ubiquinone) by 10 percent effective May 5, 2014. Shenzhou Bio cites causes for the price increase as escalating costs of pollution control, growing market demand, currency exchange situation, serious inflammation in China etc.
Wang Qingjun, general manager of Shenzhou Bio states: "We have seen a decisive upward trend in the price of CoQ10 over the past 2 years. We are selling the price of CoQ10 in the last years less than our cost and Shenzhou Bio is not making profit but losing money. Although Shenzhou Bio regrets any increase in price to its customers, mounting stressors on margin and supply have necessitated that we follow the market up. If we are going on to sell CoQ10 at the current price, Shenzhou Bio may drop the product of CoQ10 since we cannot sustain current price model to earn reasonable profit.”
Shenzhou Bio is a subsidiary of CASC, manufacture site in Inner Mongolia, P. R. China, headquarter in Beijing, P. R. China.