Spring Pharmaceutical Group Inc. (fka CYIG)

[texe]

China Bio News Today . China YCT International Group Inc. (OTCBB: CYIG) reported that its China subsidiary, Shandong Spring Pharmaceutical Co., Ltd, would take over the operations of its supplier, Shandong Yong Chun Tang Bioengineering Co. Ltd. Both companies are run by Yan Tinghe, who is Chairman of China YCT International and the principal owner of Shandong Yong Chun Tang. Under the agreement, China YCT will manage Shandong Yong Chun Tang in exchange for all of the latter’s net profits, and it will eventually buy its supplier for a “fair” price.