September 8, 2008
Huifeng Signs LOI With Xi’an Qinba Xintong Medical
Huifeng Bio- Pharmaceutical Technology, a developer and producer of plant extracts and pharmaceutical raw materials for use in pharmaceutical, nutraceutical and food production in Xi'an, China, has signed a letter of intent to enter into a contractual arrangement with Xi'an Qinba Xintong Medical.
Under the proposed terms of this arrangement, Huifeng will take over operational control of Qinba and will receive a management fee equal to all of Qinba's profit.
Jing'An Wang, CEO and founder of Huifeng, said: "As a manufacturer of finished medical devices, Qinba will give Huifeng immediate access to pharmacy and medicine buyers. With this letter of intent, Huifeng has taken the first step toward positioning itself for synergistic growth beyond its core revenue base."