HONG KONG, June 8 -- American Oriental Bioengineering Inc. (OTC: AOBO), today announced that its Soybean Protein Peptide was named a strategic product for development by the Chinese government.
To be named a strategic product for development in China, a product has to satisfy various criteria set forth by the Chinese government, including:
-- Brand new products that complement the economic, technical and
strategic development plan of the government
-- High technology developments, with quality standards that meet the
-- Proprietary technologies that have no apparent equivalents
-- Products that offer a benefit to society as a whole, while offering
substantial economic development opportunities
Shujun Liu, Chief Executive Officer of American Oriental Bioengineering, commented, "We are pleased with this recognition as it validates the large existing market and potential growth for our soybean protein peptide products.
Our recognition by the Chinese government gives American Oriental Bioengineering a big competitive advantage. We believe this will help us ramp our sales growth even quicker as we expand our presence in China, penetrate new markets such as Europe and the U.S., and develop and commercialize our biotech and pharmaceutical products given the increasing demand we are seeing globally."
About American Oriental Bioengineering, Inc.
American Oriental Bioengineering, Inc. (OTC: AOBO) 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 foods, health food products and medicines, among other applications.
Safe Harbor Statement
Except for the historical statements made herein, the statements made in
this release are forward-looking statements. Risk factors that could cause
actual results to differ materially from those projected in forward-looking
statements include, but are not limited to, general business conditions,
managing growth, and political and other business risks. All forward-looking
statements are expressly qualified in their entirety by this Cautionary
Statement and the risks and other factors detailed in the Company's reports
filed with the Securities and Exchange Commission. American Oriental
Bioengineering, Inc. undertakes no duty to update these forward-looking