Qilian International Holding Group Limited Announces Name Change to BGM Group Ltd.

Rhea-AI Summary

Qilian International Holding Group announces its corporate name change to BGM Group , effective October 30, 2024. The company's Class A ordinary shares have already begun trading under the new symbol 'BGM' on the Nasdaq Stock Market since August 11, 2024. The CUSIP number remains unchanged throughout this transition.

CHENGDU, China, Oct. 29, 2024 /PRNewswire/ -- Qilian International Holding Group Ltd. ("Qilian" or the "Company") (NASDAQ: BGM) is pleased to announce that effective on October 30, 2024, the Company will change its name to "BGM Group Ltd." In connection with the name change, the trading symbol of the Company's Class A ordinary shares has been changed to "BGM" on the Nasdaq Stock Market, effective on August 11, 2024, and the CUSIP number remains unchanged.

About Qilian International Holding Group Ltd.

BGM Group Ltd., formerly known as Qilian International Holding Group Ltd., headquartered in Chengdu, China, is an innovative company dedicated to the fields of biopharmaceuticals, bio-extraction, and medical health. Our current product range includes oxytetracycline APIs, licorice preparations, and crude heparin sodium. The oxytetracycline API not only provides raw materials for pharmaceutical companies to produce human antibiotics but also supports the global breeding and livestock industries to ensure the safety of poultry and seafood. The crude heparin sodium, after processing by downstream companies, is transformed into refined heparin sodium and heparin sodium injection solutions, which are major anticoagulants. Licorice preparations, such as compound licorice lozenges, are used as cough suppressants and supplied to retail pharmacies. For more information, visit the Company's website at: www.bgm.ltd. 

Safe Harbor Statement

Certain statements made in this release are "forward looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. When used in this press release, the words "estimates," "projected," "expects," "anticipates," "forecasts," "plans," "intends," "believes," "seeks," "may," "will," "should," "future," "propose" and variations of these words or similar expressions (or the negative versions of such words or expressions) are intended to identify forward-looking statements. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company's control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, are the ability to manage growth; ability to identify and integrate other future acquisitions; ability to obtain additional financing in the future to fund capital expenditures; fluctuations in general economic and business conditions; costs or other factors adversely affecting our profitability; litigation involving patents, intellectual property, and other matters; potential changes in the legislative and regulatory environment; a pandemic or epidemic. The forward-looking statements contained in this release are also subject to other risks and uncertainties, including those more fully described in the Company's filings with the Securities and Exchange Commission, which are available for review at www.sec.gov. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. Such information speaks only as of the date of this release.

For investor and media inquiries, please contact:
info@qiliancorp.com, jiangyubin@qiliancorp.com or xinchen@qiliancorp.com 

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SOURCE Qilian International Holding Group Co., LTD

FAQ

When will Qilian International change its name to BGM Group?

Qilian International will change its name to BGM Group effective October 30, 2024.

What is the new trading symbol for BGM Group (formerly Qilian) on Nasdaq?

The company's new trading symbol on Nasdaq is 'BGM', which became effective on August 11, 2024.

Did the CUSIP number change with BGM Group's name change?

No, the CUSIP number remained unchanged during the company's transition from Qilian International to BGM Group