China-Biotics Appoints Mr. Li Chi Yuen as CFO.Brings 20-plus Years of Finance Experience to the Company SHANGHAI, China -- China-Biotics, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :CHBT), one of China's largest producers of probiotic pro·bi·ot·ic n. A dietary supplement containing live bacteria or yeast that supplements normal gastrointestinal flora, given especially after depletion of flora caused by infection or ingestion of an antibiotic drug. products and food supplements that benefit and improve the microbial microbial pertaining to or emanating from a microbe. microbial digestion the breakdown of organic material, especially feedstuffs, by microbial organisms. balance in the human body, announced that Mr. Li Chi Yuen has been appointed to the position of Chief Financial Officer, effective November 13, 2006. Mr. Li's career includes over 20 years of finance (both auditing and accounting) experience serving multiple industries. Mr. Li previously served as the Financial Controller at Techwayson Holdings Limited, a company which designs, supplies and integrates automation and controls system. While at Techwayson, Mr. Li helped keep the company in compliance with GEM and main board Listing Rules, helped close a HK$49M acquisition, conducted due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. for mergers and acquisitions, provided consolidated financial reports to the Board, and was the liason with key stakeholders and fund managers. Prior to Techwayson, Mr. Li was a Finance Manager at Super Worth Contracting Co. Ltd., which is a contractor for turn-key construction projects, where he supported the CFO See Chief Financial Officer. by providing financial reports for operating, as well as merger and acquisition, related activities. He also managed an accounting staff over 10 people and interacted with auditors, lawyers, tax consultants, and bankers to formalize strategic planning advice. Mr. Li has a Master of Arts Master of Arts Noun a degree, usually postgraduate in a nonscientific subject, or a person holding this degree Noun 1. Master of Arts - a master's degree in arts and sciences Artium Magister, MA, AM in Language and Law from City University of Hong Kong The university has a community of more than 12,000 undergraduates and 6,000 postgraduates. International students account for around 5% of the student population. The official language of instruction is English. and a Master of Business Administration from Heriot-Watt University. He is a member of the Hong Kong Institute of Certified Public Accountants, The Chartered Institute of Management Accountants The Chartered Institute of Management Accountants (CIMA) is a UK based professional body offering training and qualification in management accountancy and related subjects, focused on accounting for business; together with ongoing support for members. , and the Association of Certified Fraud Examiners Established in 1988 the Association of Certified Fraud Examiners is the professional organization that governs professional fraud examiners. Its activities include producing fraud information, tools and training. . "During an extensive search, we thoroughly reviewed the credentials and industry experience of several qualified candidates generated through numerous sources. Although there were several who were qualified for the position, we concluded that Mr. Li was the right person for the CFO role at this stage of our Company's growth," stated Mr. Song Jin An, China-Biotics' Chairman and Chief Executive Officer. "The broad experience garnished in all aspects of traditional and operating finance, as well as capabilities earned through interfacing with the investment community made him the clear choice for China-Biotics and would like to welcome Mr. Li to our team." About China-Biotics Based in Shanghai, China-Biotics is an emerging leader in the research, development, production, marketing and distribution of probiotics Probiotics Bacteria that are beneficial to a person's health, either through protecting the body against pathogenic bacteria or assisting in recovery from an illness. Mentioned in: Colonic Irrigation, Dysentery, Gastroenteritis products in the People's Republic of China. Probiotics products contain live microbial food supplements which beneficially affect the host by improving its intestinal microbial balance. Currently, the Company produces and distributes proprietary probiotics, which are approved by the Ministry of Health in China and have been tested by the Shanghai Preventive Medicine Research Institute. For more information, visit the Company's website at www.shiningbt.com. Statements herein concerning the Company's plans, growth and strategies may include 'forward-looking statements' within the context of the federal securities laws. Statements regarding the Company's future events, developments and future performance, as well as management's expectations, beliefs, plans, estimates or projections relating to the future, are forward-looking statements within the meaning of these laws. The Company's actual results may differ materially from those suggested as a result of various factors. Interested parties should refer to the disclosure concerning the operational and business concerns of the Company set forth in the Company's filings with the Securities and Exchange Commission. |
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