Our China Investor King's Portfolio company Renhuang Pharmaceuticals, Inc. (NYSE Amex: CBP), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), today announced that the company was recently awarded an AAA(1) rating by Chinese Academy of International Trade & Economic Cooperation of Ministry of Commerce ("the Academy").
The Academy's ratings are conferred only after an extensive review of an enterprise's financial condition and an AAA(1) mark represents the highest possible rating granted by the Academy. The appraisal process involves evaluation of bond management, corporate debt, contract execution, public records, financial status, and financing abilities of each enterprise and is conducted independently by the Academy. The AAA(1) rating certifies that the enterprise has outstanding performance in each of the above areas and is highly recognized by consumers and the government as practicing sound commercial practices.
"It is a great honor and a significant achievement to receive an AAA(1) rating from the Academy," said Mr. Shaoming Li, the Company's Chairman and Chief Executive Officer. "We are pleased that our improved governance measures and strong financial controls have been validated by the Academy's intensive appraisal process. We believe this will reinforce the investment community's confidence in our business and growth prospects as we continue to expand our national and international sales."
Clearly a positive note, now we hope that the pharmaceutical stocks will show some strength the coming months.