TAIZHOU, China, May 22, 2019 /PRNewswire/ -- China SXT Pharmaceuticals, Inc. (SXTC) ("China SXT" or the "Company"), a specialty pharmaceutical company focusing on the research, development, manufacture, marketing and sales of Traditional Chinese Medicine Pieces ("TCMPs"), announced today the launch of a strategic partnership with Future Science & Technology Park of Huangshan Hi-tech Zone and Huangshan Panjie Investment Co., Ltd. ("Panjie Investment") which is the shareholder and operator of the Park. In celebration of the event, a ribbon-cutting ceremony was hold on May 17, 2019 at the Future Science & Technology Park of Huangshan Hi-tech Zone, Anhui Province, making China SXT the first Nasdaq-listed company to be admitted to the Huangshan Hi-tech Zone. Huangshan Hi-tech Zone is an industrial zone owned and managed by Panjie Investment which is a state owned enterprise in Anhui Province. The Future Science & Technology Park within the Huangshan Hi-tech Zone is a special incubator which provides businesses admitted to the park special economic policies and flexible government measures. Being admitted to the Park gives China SXT access to potential tax breaks for both the Company and executives, among other benefits that the Park may provide at its sole discretion. The Company plans to co-invest with Panjie Investment in a M&A fund in an effort to identify appropriate acquisition targets complementary to the Company's current business.
Mr. Feng Zhou, Chairman and Chief Executive Officer of China SXT, commented, "Following our successful IPO in January, launch of this important partnership marked another milestone for China SXT. We thank the local government of the Huangshan Hi-tech Zone in providing attractive investment environment and favorable policy support. We also have high hopes for the new initiative through this strategic partnership with the Future Science & Technology Park and Panjie Investment and expect a sub M& A fund to be set up in the next step to greatly benefit from Panjie Investment's tremendous capital strength, deep investment experience and vast amount of project resources."
Yao Shi, Chief Financial Officer of China SXT also added, "The partnership enables China SXT to access new business opportunities that could speed up the growth of our business. We look forward to this strategic partnership with Future Science & Technology Park and Panjie Investment to bear fruit in years to come."
About China SXT Pharmaceuticals, Inc.
Founded in 2005 and headquartered in Taizhou City, Jiangsu Province, China, China SXT Pharmaceuticals, Inc. is an innovative pharmaceutical company focusing on the research, development, manufacture, marketing and sales of traditional Chinese medicine pieces, which is a type of Traditional Chinese Medicine that has been processed to be ready for use. For more information, please visit www.sxtchina.com.
Safe Harbor Statement
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company's future business development; product and service demand and acceptance; changes in technology; the growth of the pharmaceutical market, particularly the Traditional Chinese Medicine Pieces ("TCMPs") market, in China; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in China and the international markets the Company serves and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the Securities and Exchange Commission. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the U.S. Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward‐looking statements to reflect events or circumstances that arise after the date hereof.
For more information, please contact:
At the Company:
Alex Shi, CFO
Tony Tian, CFA
Weitian Group LLC
Phone: +1 732-910-9692