WENZHOU, China, April 4, 2017 /PRNewswire/ -- Hebron Technology Co., Ltd. ("Hebron" or the "Company") (Nasdaq: HEBT), a developer, manufacturer and installer of valves and pipe fitting products for use in the pharmaceutical, biological, food and beverage, and other clean industries, today announced that it was one of the six sponsor members of a newly formed industry alliance – "5+1 Traditional Chinese Medicine ('TCM') Industry Alliance" (the "Alliance"). Aiming to promote resource-sharing and strategic cooperation among its members, the Alliance was formed last week in Qingdao City, Shandong Province by six TCM equipment and solution providers including Hebron, Jiangsu Baowei Machinery Technology Co., Ltd. (which specializes in herbal pretreatment equipment), Zhejiang Sunny Machinery Technology Co., Ltd. (extraction and concentration equipment), Shanghai Minjie Machinery Co., Ltd. (drying equipment), Zhejiang Xiaolun Pharmaceutical Machinery Co., Ltd. (granulating and coating equipment), and Shanghai Xinxiao Co., Ltd. (a B2B online pharmaceutical and TCM marketplace) ("Xinxiao").
"The Alliance, with its sponsor members covering the TCM equipment value chain from pretreatment, extraction, concentration, drying, valves, pipe fitting and installation services to B2B online marketplace, offers tremendous opportunities for Hebron and other members to mutually benefit from resource-sharing and strategic cooperation. This is particularly significant for the highly fragmented TCM equipment industry," commented Mr. Anyuan Sun, Chairman and Chief Executive Officer of Hebron.
As to Xinxiao, Hebron signed a non-binding Letter of Intent to acquire a majority equity interest in Xinxiao on March 8, 2017, as previously announced in the Company's press release on March 10, 2017.
About Hebron Technology Co., Ltd.
Established in January 2005 and headquartered in Wenzhou City, Zhejiang Province, China, Hebron Technology Co., Ltd. ("Hebron" or the "Company") engages in research, development, and manufacture of highly specialized valves and pipe fitting products for use in the pharmaceutical, biological, food and beverage, and other clean industries. The Company also offers its customers comprehensive pipeline design, installation, construction, and ongoing maintenance services as holistic solution services.
This press release contains information about Hebron's view of its future expectations, plans and prospects that constitute forward-looking statements. Actual results may differ materially from historical results or those indicated by these forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with its ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, general government regulation, economic conditions, dependence on key personnel, the ability to attract, hire and retain personnel who possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Hebron encourages you to review other factors that may affect its future results in Hebron's registration statement and in its other filings with the Securities and Exchange Commission.
For more information, please contact:
At the Company
Yingping Chen, Secretary
Tony Tian, CFA
Weitian Group LLC
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SOURCE Hebron Technology Co., Ltd.