You sound like just like me couple weeks ago. It makes perfect sense.
Zhejiang Tianyuan BIOPHARMA and Zhejiang Tianyuan BIOTECH are two different companies.
ZTBC is not Zhejiang Tianyuan BIOPHARMA, but Zhejiang Tianyuan BIOTECH.(CHBO's product development subsidiary is called Zhejiang Tianyuan Biotech Co (ZTBC). JOINT VENTURE WHERE BIOPHARMA OWNED 35% BIOTECH OWNED 65%. CHBO NOW OWNS 10000%. BIOPHARMA IS OUT!
In January 2009, the Company agreed to reduce a receivable amounting to $1,012,700, owed by Zhejiang Tianyuan Bio-pharmaceutical Co. (“Zhejiang Tianyuan”), a 35% minority interest owner in the subsidiary of ZTBC. In exchange, Zhejiang Tianyuan withdrew its 35% equity interest in ZTBC, and ZTBC reduced approximately $1.05 million in the registered capital. As a result, the Company owns 100% control and ownership in ZTBC, and renames it as Zhejiang Kangchen Biotech Co., Ltd. (“ZKBC”)
Everythings right there. Goodluck with your investment as i find nothing wrong with CHBO, however, zhejiang tianyuan BIOPHARMA is out of ZTBC knowing that novartis wanted only to invest in zhejiang tianyuan BIOPHARMA. This is why the revenues in the p.r. doesn't match up. This is why CHBO hasn't released any p.r.'s. This is why there is no investors information in http://www.ty-pharm.com/en/index.asp. This is why "Zhejiang Tianyuan is a privately-held vaccines company providing a competitive product portfolio and pipeline in China".
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