(Hong Kong, 15 December 2015) Hang Fat Ginseng Holdings Company Limited (“Hang Fat Ginseng”, together with its subsidiaries, the “Group”, Stock Code: 911), the world’s largest first-level American ginseng wholesaler, is pleased to announce today that the Group entered into a strategic cooperation framework agreement (“Agreement”) with By-Health Co., Ltd. (“By-Health”, Stock Code: 300146) for strategic collaboration in American ginseng-related business.
Pursuant to the Agreement, Hang Fat Ginseng shall supply raw American ginseng to By-Health. Two parties shall exchange American ginseng-related information and cooperate in research and development of American ginseng-related products. Both shall actively carry out brand alliance and cross marketing activities with Hang Fat Ginseng’s major assistance, to boost Chinese consumer awareness on American ginseng and its healthcare products.
By-Health is a company listed on the ChiNext market of Shenzhen Stock Exchange, principally engaged in the manufacture and sale of dietary supplements. It is a leading brand and benchmarking enterprise in the dietary supplements segment in the PRC, and is also the first dietary supplements enterprise awarded with AAA rating in the healthcare industry in the PRC.
Mr. Yeung Wing Yan, Chairman and Chief Executive Officer of Hang Fat Ginseng, said: “By entering into the Agreement, the Group shall combine its strengths in the American ginseng industry with By-Health’s product research and development technologies and brand influence to expand its business in the PRC. We hope to strengthen our market position and brand image through product diversification.”