JIUQUAN, China, May 17, 2024
/PRNewswire/ -- Qilian International Holdings Group Limited
(NASDAQ: QLI) ("Qilian" or the "Company"), a pharmaceutical and
chemical products manufacturer headquartered in China, today announced: In the past two
years, Qilian International Holdings Group Limited has
encountered significant challenges stemming from the continuous
shrinkage in market demand for its oxytetracycline products,
coupled with a persistent decline in market prices and escalating
environmental protection standards. These factors have collectively
led to a substantial increase in the production and operational
costs for Qilian International, consequently impairing the
profitability of the oxytetracycline industry. In response to these
challenges and in an effort to optimize resource allocation and
enhance the company's overall efficiency, Qilian International is
planning to reorient its industrial strategy in accordance with the
prevailing market conditions and its long-term development
objectives.
Firstly, Qilian International will reduce its investment in the
oxytetracycline sector. The company plans to substantially decrease
its capital allocation to the oxytetracycline industry, aiming to
mitigate production and operational costs as well as to manage
business risks more effectively.
Secondly, the company intends to bolster its investment in the
heparin sodium sector. Recognized for its critical role as a
biomedical raw material, heparin sodium offers extensive
application prospects and a promising market outlook within the
medical field. Qilian International is committed to significantly
enhancing its investment in the research and development,
production, and market development of heparin sodium. This
strategic move is designed to refine the production techniques and
expand the scale of heparin sodium production, thereby addressing
the escalating market demands.
Thirdly, the company plans to develop a series of licorice
products. Qilian International will closely monitor market trends
and augment its investment in the research, production, and
marketing of licorice-based products, including licorice extract,
fluid extract, and compound licorice lozenges. This strategic
expansion is intended to broaden the company's market share and
enhance profitability.
The fourth is to invest in the financial field (stocks, wealth
management, etc.) and software development. With the rapid
development of financial technology, the development of financial
products and software in the financial field has become a new
growth point. The company will actively seize the opportunity to
invest appropriately in financial products in the financial field,
and gradually increase investment in software development to
promote the diversified development of the company.
Adjusting its industrial orientation is a key initiative for the
company to proactively adapt to market changes and optimize
resource allocation. In the future, through the implementation of
the adjustment plan, the company will continue to innovate the
business concept, further enhance the overall competitiveness and
profitability, promote the sustainable and healthy development of
the company, and create greater value for the majority of
shareholders and partners.
About Qilian International Holding Group Ltd
Qilian International Holding Group Limited, headquartered in
Gansu, is a leading manufacturer
of pharmaceutical and chemical products 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
https://www.qilianholdings.com
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 more information, please visit our website.
Media contact:
JIANG YUBIN
595090812@qq.com
xinchen@qiliancorp.com
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SOURCE Qilian International Holding Group Limited