Jiuquan, China, Feb. 08, 2021 (GLOBE NEWSWIRE) — Qilian International Holding Group Limited (Nasdaq: QLI) (the “Company”), a China-based pharmaceutical and chemical products manufacturer, today announced that the Company will complete the first phase expansion of its new organic fertilizer production facility and put it into production in Jiuquan City, Gansu Province by March 2021. The Company expects to triple its organic fertilizer production capacity upon completion of its first phase expansion.
Currently, the Company’s organic fertilizer products are mainly sold to the China’s five northwestern provincial-level regions, namely Shaanxi, Gansu, Qinghai, Ningxia, Xinjiang and other regions including Sichuan, Shanxi, Tibet and Inner Mongolia. With a tripled production capacity, the Company has won bids for government organic fertilizer projects in Tibet, Gansu and Qinghai. After completing the first phase expansion, the Company will mainly focus on producing and selling bio-organic fertilizers under the “Moshangfa” and “Xiongguan” brands.
Mr. Zhanchang Xin, Chairman and CEO of the Company, commented, “the Chinese government pays great attention to the issues of ‘agriculture, rural areas and farmers’ and strives to maintain at least 1.8 billion mu (approximately 296.5 million acres) of arable land in China. As each mu of arable land consumes 150-200 kilograms of organic fertilizer, the organic fertilizer market in China has tremendous potential. We will seek to provide solutions for the ‘degradation, acidification, salinization’ of China’s arable land. Looking forward, we expect that our organic fertilizer business become a new growth point for our Company and create long-term value to our investors.”
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://ir.qlsyy.net/.
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, including but not limited to, the Company’s proposed Offering. 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 and financial needs. 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.
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