Qilian International Holding Group Limited Received Approval for Oxytetracycline API Export to Egypt

Rhea-AI Summary

Qilian International Holding Group Limited (Nasdaq: QLI) announced that its subsidiary, Gansu Qilianshan Pharmaceutical Co., Ltd., received a Certificate of a Pharmaceutical Product on September 14, 2021, allowing the export of its Qilian Shan® Oxytetracycline APIs to Egypt. This approval indicates compliance with Chinese standards and no export restrictions. Oxytetracycline products generate over 90% of revenue in this segment, contributing more than 60% to overall company revenue. The CEO expressed optimism about expanding into overseas markets following this approval.

Positive

• Export Certificate received for Oxytetracycline APIs to Egypt.
• Oxytetracycline products account for over 90% of segment sales.
• Strong revenue contribution: over 60% from Oxytetracycline and licorice products.
• Product already used in the Egyptian market, indicating established demand.

Negative

• None.

JIUQUAN, China, Oct. 13, 2021 /PRNewswire/ -- Qilian International Holding Group Limited (Nasdaq: QLI) (the "Company"), a China-based pharmaceutical and chemical products manufacturer, announced that on September 14, 2021, through its subsidiary Gansu Qilianshan Pharmaceutical Co., Ltd. (the "Gansu QLS"), it has received Certificate of a Pharmaceutical Product (the "Export Certificate") from Gansu Province Drug Administration, which approves the export of its Qilian Shan® Oxytetracycline APIs (Active Pharmaceutical Ingredients) (the "API") to Egypt.

The Export Certificate indicates that the Company's API is a registered pharmaceutical product approved by China, complies with relevant standards of China, is licensed for sale in Chinese market and is not subject to any export restrictions. Moreover, the product is licensed for use, and has already been used in the Egyptian market. The production facilities and operations also conform to the requirements of China's GMP.

Gansu QLS was established in 2006, and has grown to include the development, manufacture and sale of more than 20 pharmaceutical products, which includes three major ones, licorice products, oxytetracycline products, and Traditional Chinese Medicine Derivatives (TCMD). These products have been sold to more than 20 provinces across China. Its oxytetracycline products also comply with the National Medical Products Administration (NMPA) certification, making it a strength of the company. In terms of revenue structure, oxytetracycline are main revenue sources of the Company. In recent performance periods, oxytetracycline and licorice products have contributed more than 60% of the Company's revenue, while oxytetracycline products have accounted for more than 90% of the sales of this segment and it is the Company's core product.

Mr. Zhanchang Xin, Chairman and CEO of the Company, commented, "We are very pleased with this good news. The approval of this direct exporting license marks a smooth opening to overseas markets. So that we have a solid foundation for further export expansion in the future."

About Qilian International Holding Group Limited

Qilian International Holding Group Limited, headquartered in Gansu, China, is a pharmaceutical and chemical products manufacturer in China. It focuses on the development, manufacture, marketing and sale of licorice products, oxytetracycline products, traditional Chinese medicine derivatives product, heparin product, sausage casings, and fertilizers. The Company's products are sold in more than 20 provinces in China. For more information, visit the company's website at  http://qilianinternational.com/

Forward-Looking Statements

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy, financial needs and the successful construction of the pig by-product processing project facility. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. 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 registration statement and in its other filings with the SEC.

For more information, please contact:

Qilian International Holding Group Limited
Email: QLI@qlsyy.net

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SOURCE Qilian International Holding Group Limited

FAQ

What did Qilian International Holding Group Limited announce on October 13, 2021?

The Company announced the approval for exporting its Oxytetracycline APIs to Egypt, received on September 14, 2021.

How much of Qilian International's revenue comes from Oxytetracycline products?

Oxytetracycline and licorice products contribute more than 60% of the company's overall revenue, with Oxytetracycline accounting for over 90% of the segment's sales.

What is the significance of the Export Certificate for Qilian International (QLI)?

The Export Certificate allows the company to export its APIs to Egypt, signifying compliance with Chinese standards and potential for overseas market expansion.

When did Qilian International receive the Certificate of a Pharmaceutical Product?

The Certificate was received on September 14, 2021.

What type of products is Qilian International focused on?

The company specializes in pharmaceutical products, particularly licorice products and Oxytetracycline products.