BOQI International Medical Inc. Announces That Its Wholesale Drug Distribution Subsidiary, Shude Pharmaceutical, Was Awarded A RMB 20 Million Contract
BOQI International Medical Inc. (NASDAQ: BIMI) announced its subsidiary, Chongqing Shude Pharmaceutical, has secured a RMB 20 million (approximately $3.11 million) drug supply contract with Chongqing Huilian Medicine. The contract focuses on supplying calcium carbonate and serrapeptase enteric-coated tablets until December 31, 2021. This collaboration aims to deepen market penetration in Southwest China. Huilian Medicine's Sales Director expressed optimism for mutual growth through this partnership. The company emphasizes quality control and pre-payment requirements for product delivery.
- Secured a drug supply contract worth RMB 20 million ($3.11 million).
- Focus on expanding market presence in Southwest China.
- Dependent on the ability to meet NASDAQ listing requirements.
- Risks from COVID-19 impact and demand fluctuations in China.
NEW YORK, June 02, 2021 (GLOBE NEWSWIRE) -- BOQI International Medical Inc. (NASDAQ: BIMI) (“BIMI” or the “Company”), a leading healthcare products and services provider in China, today announced that its subsidiary, Chongqing Shude Pharmaceutical Co., Ltd. (“Shude Pharmaceutical”), an
Pursuant to the supply contract Shude Pharmaceutical will supply primarily two products, calcium carbonate and serrapeptase enteric-coated tablets to Huilian Medicine for mutual benefits with sincerity and good faith.
The contract term will end on December 31, 2021. Under the terms of the contract, each order will, among other requirements, be subject to quality-control verification and will require payment before product delivery.
Mr Tiewei Song, Chief Executive Officer and President of the Company, commented: “We are delighted to be able to work with Huilian Medicine and to see Shude Pharmaceutical secure a major contract that will advance our expansion strategy which focuses on deeper penetration of the healthcare market in the Southwest region of China.”
Mr Bangquan Tan, Sales Director at Huilian Medicine, said: “We believe our cooperation with Shude Pharmaceutical, a well-regarded industry leader in wholesale drug distribution, will be very successful. We intend to bring more business growth opportunities to our partners to achieve mutual gains.”
About BOQI International Medical Inc.
BOQI International Medical Inc. was founded in 2006. The Company is now exclusively a healthcare products and provider, offering a broad range of healthcare products and related services and operates two private hospitals in China. For more information, please visit www.usbimi.com.
Safe Harbor Statement
Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, the Company’s ability to achieve profitable operations, its ability to continue to operate as a going concern, its ability to continue to meet NASDAQ continued listing requirements, the effects of the spread of COVID-19, the demand for the Company’s products and services in the People’s Republic of China, general economic conditions and other risk factors detailed in the Company’s annual report and other filings with the United States Securities and Exchange Commission.
Investor Relations Contact:
Janice Wang
EverGreen Consulting Inc.
Email: IR@changqingconsulting.com
Phone: +1 571-464-9470 (from U.S.)
+86 13811768559 (from China)
FAQ
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