Shanghai, China, May 22, 2023 (GLOBE NEWSWIRE) -- YanGuFang International Group Co., Ltd. (Nasdaq: YGF) (the “Company”), a health food company primarily engaged in the production, research, development, and sales of oat and grain products, today announced the establishment of the Collaborative Innovation Center for Whole Grain Seed Industry Technology (the “Center") in partnership with the China Jilin Baicheng Academy of Agricultural Sciences, an agricultural research institution in China (the "JBC") pursuant to a strategic cooperation agreement the parties entered into (the “Agreement”). Under the Agreement, JBC agreed to contribute personnel with relevant technical expertise and its resources, including its germplasm technology, research capabilities, and its experimental fields. The Company agreed to contribute its industry expertise and fund the expenses related to crop breeding development and commercialization.
Mr. Junguo He, the Chairman and CEO of the Company, commented, “We are excited to cooperate with JBC to establish the Center, which is expected to enhance breeding techniques and expedite the introduction of new and improved varieties of whole grain products to the market. Over the years, we have conducted a series of technological research and development of seed sources from the seed breeding and planting stages. Looking ahead, we anticipate the Center to actively engage in innovative breeding and commercialization of special grain crops, such as oat, buckwheat, and winter rye, in order to develop more products that suit the needs of our customers.”
JBC is the primary agricultural research institution in the semi-arid special ecological zone in western Jilin Province, China. Due to the region’s unique geographical characteristics, JBC has established significant research advantages in the study of oats, sunflowers, and mixed grains and beans in China. It is recognized as a leading scientific and technological group, focused on agricultural technology innovation and promotion in western Jilin Province. JBC has established scientific research cooperation and technology exchange relationships with over 20 countries, including Canada, the United States, Russia, Australia, Serbia, Norway, Sweden, the Netherlands, Finland, and Japan. Its aim is to conduct research and promote breeding that aligns with the international standards and brings the institution closer to the forefront of global scientific research.
About YanGuFang International Group Co., Ltd.
YanGuFang International Group Co., Ltd. is an integrated enterprise engaged in the production, research and development, sales and marketing of natural oat and whole grain products. The Company is committed to improving human health through its research to explore the nutritional benefits of its products. The Company has developed over 80 products in its natural oat and whole grain series. For more information, visit the Company’s website at http://ir.ygfang.com/.
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Certain statements in this announcement are forward-looking statements. Investors can identify these forward-looking statements by words or phrases such as “may,” “will,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “potential,” “continue” or other similar expressions. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's goals and strategies; the Company’s forecast on market trend; the Company's future business development; the demand for and market acceptance for new products; changes in technology; risks and uncertainties regarding lingering effects of the Covid-19 pandemic on the Company’s businesses, including disruptions to the Company’s supply chain; the Company’s ability to attract and retain skilled professionals; client concentration; and general economic conditions affecting the Company’s industry and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations that arise after the date hereof, except as may be required by law.
For investor and media inquiries please contact:
YanGuFang International Group Co., Ltd.
Investor Relations Department
Ascent Investor Relations LLC
Phone: +1 917-609-0333