Business
China SXT Pharmaceuticals, Inc. Being Admitted to Hi-tech Zone of Huangshan City in Anhui Province
TAIZHOU, China, May 22, 2019 /PRNewswire/ -- China SXT Pharmaceuticals, Inc. (SXTC) ("China SXT" or the "Company"), a specialty pharmaceutical company
About this update from China Sxt Pharmaceuticals, Inc.
[{"type":"text","content":"TAIZHOU, China, May 22, 2019 /PRNewswire/ -- China SXT Pharmaceuticals, Inc. (SXTC) (\"China SXT\" or the \"Company\"), a specialty pharmaceutical company focusing on the research, development, manufacture, marketing and sales of Traditional Chinese Medicine Pieces (\"TCMPs\"), announced today the launch of a strategic partnership with Future Science & Technology Park of Huangshan Hi-tech Zone and Huangshan Panjie Investment Co., Ltd. (\"Panjie Investment\") which is the shareholder and operator of the Park. In celebration of the event, a ribbon-cutting ceremony was hold on May 17, 2019 at the Future Science & Technology Park of Huangshan Hi-tech Zone, Anhui Province, making China SXT the first Nasdaq-listed company to be admitted to the Huangshan Hi-tech Zone. Huangshan Hi-tech Zone is an industrial zone owned and managed by Panjie Investment which is a state owned enterprise in Anhui Province. The Future Science & Technology Park within the Huangshan Hi-tech Zone is a special incubator which provides businesses admitted to the park special economic policies and flexible government measures. Being admitted to the Park gives China SXT access to potential tax breaks for both the Company and executives, among other benefits that the Park may provide at its sole discretion. The Company plans to co-invest with Panjie Investment in a M&A fund in an effort to identify appropriate acquisition targets complementary to the Company's current business. \nMr. Feng Zhou, Chairman and Chief Executive Officer of China SXT, commented, \"Following our successful IPO in January, launch of this important partnership marked another milestone for China SXT. We thank the local government of the Huangshan Hi-tech Zone in providing attractive investment environment and favorable policy support. We also have high hopes for the new initiative through this strategic partnership with the Future Science & Technology Park and Panjie Investment and expect a sub M& A fund to be set up in the next step to greatly benefit from Panjie Investment's tremendous capital strength, deep investment experience and vast amount of project resources.\" \nYao Shi, Chief Financial Officer of China SXT also added, \"The partnership enables China SXT to access new business opportunities that could speed up the growth of our business. We look forward to t...