WENZHOU, China, Aug. 22, 2017 /PRNewswire/ -- Hebron Technology Co., Ltd. ("Hebron" or the "Company") (Nasdaq: HEBT), a developer, manufacturer and installer of valves and pipe fittings for use in the pharmaceutical, biological, food and beverage, and other clean industries, today announced that it has won bids for multiple projects at leading pharmaceutical companies since July 2017, with aggregate amount of approximately RMB 6.7 million (approximately $1.00 million).
On July 25, 2017, the Company won the bid for a RMB 0.8 million (approximately $0.12 million) project at Hangzhou Garden Biochemical High-Tech Co., Ltd. ("Garden Biochemical") (300401.SZ). Established in 2000, Garden Biochemical is a Hangzhou-based developer and manufacturer of Vitamin D3, Cholesterol drugs and Lanolin-related products. Garden Biochemical has been listed on the Shenzhen Stock Exchange under ticker 300401 since 2014.
On August 8, 2017, the Company won the bid for a RMB 3.4 million (approximately $0.50 million) project at Agno Pharma (Jiangsu) Technology Co., Ltd. ("Agno Pharma Jiangsu"). Agno Pharma Jiangsu is a subsidiary of Agno Pharma Ltd., a global pharmaceutical contract research and manufacturing organization which engages in the research, development, manufacturing, sourcing, marketing, and distribution of chemically and biologically derived pharmaceutical intermediates, APIs, and fine chemicals.
On August 15, 2017, the Company won the bid for a RMB 2.5 million (approximately $0.37 million) project at Tianjin Chase Sun Pharmaceutical Co., Ltd. (("Chase Sun") (300026.SZ). Founded in 1996, Chase Sun is one of China's 100 leading pharmaceutical companies by sales with over 6,000 employees and net sales of RMB 3.9 billion in 2016. Chase Sun focuses on the research, development, manufacturing and marketing of traditional Chinese medicine, synthetic drugs, biotech drugs and medical devices. Chase Sun has been listed on the Shenzhen Stock Exchange under ticker 300026 since 2009.
"We are very pleased with recent project wins that highlight continued strength in our business entering the second half of the year. With growing pipeline projects, we are increasingly confident about our near-term outlook," said Anyuan Sun, Chairman and Chief Executive Officer of Hebron.
About Hebron Technology Co., Ltd.
Established in January 2005 and headquartered in Wenzhou City, Zhejiang Province, China, Hebron Technology Co., Ltd. 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. Hebron also offers its customers comprehensive pipeline design, installation, construction, and ongoing maintenance services as holistic solution services. More information about the Company can be found at www.xibolun.com.
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
SOURCE Hebron Technology Co., Ltd.