EL MONTE, California, March 09, 2021 (GLOBE NEWSWIRE) — Yew Bio-Pharm Group, Inc. (OTCQB:YEWB) (“YEWB” or the “Company”), a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine, handicraft products made from yew timber and yew candle and soap made with yew essential oil in China, announced that it recently organized a new subsidiary in Guangzhou, China which focuses on yew (Taxus Cupsidata) related cosmetic product development, online sales and integrated marketing. We plan to initially launch three products in April 2021 which includes yew shampoo, yew conditioner and yew body wash. Afterwards we will continuously launch other yew related products such as menstrual pad.
“We have decided to continue our yew related cosmetic product development since 2016, and we have made great progress in the recent years.” said Mr. Zhiguo Wang, Chairman and Chief Executive Officer of YEWB. “The newly established cosmetics subsidiary will support us to extend our yew product chain and expand our revenue category. We have successfully converted our business model from an agricultural grower to a high value-added commercial company. Meanwhile, we have the natural advantage that the main ingredient of our cosmetics is extracted from our self-planted yew trees. This will assure us to have enough raw materials to fulfill the potential demands of our cosmetic products in the future. Looking forward, we expect these upcoming products to enrich our product mix and contribute to potential revenues for our company this year.”
ABOUT YEW BIO-PHARM GROUP, INC. (OTCQB:YEWB)
Yew Bio-Pharm Group, Inc., through its operating entity, Harbin Yew Science and Technology Development Co., Ltd. (HDS), is a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine (TCM) and products made from yew timber in China. Raw material from the species of yew tree that the Company grows contains taxol, and TCM containing yew raw materials has been approved as a traditional Chinese medicine in China for secondary treatment of certain cancers. The Company uses a patented, accelerated growth technology to speed the growth and maturity and commercialization of yew trees and believes that it is one of the few companies possessing a permit to sell them. To learn more, please visit www.yewbiopharm.com
This press release forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. These forward-looking statements involve a number of risks and uncertainties that could cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our ability to collect from our largest customers; our dependence on a small number of customers for raw materials, including a related party; our ability to continue to purchase raw materials at relatively stable prices; our dependence on a small number of customers for our yew trees for reforestation; our ability to market successfully raw materials used in the manufacture of traditional Chinese medicines; and our ability to receive continued preferential tax treatment for the sale of yew trees and potted yew trees. From time to time, these risks, uncertainties and other factors are discussed in the Company’s filings with the U.S. Securities and Exchange Commission, including its most recent annual report on Form 10-K. Yew Bio does not undertake any obligation to update any forward-looking statements as a result of new information, future events or otherwise, except as required under applicable law.
Yew Bio-Pharm Group, Inc.
Tel: (626) 401-9588