China YCT International Group, Inc. Reports Record Financial Results for Fiscal Year

SHUI COUNTY, SHANDONG PROVINCE, CHINA / ACCESSWIRE / July 20, 2015 / China YCT International Group, Inc. (OTCQB: CYIG), a market leader in the development, manufacture, sales and distribution of unique health products and supplements in the People’s Republic of China whose patented leading medication product is HUOLIYUAN, a doctor-prescribed oral capsule used to treat cardio-vascular ailments, chronic hepatitis, diabetes, insomnia, memory loss, menopause syndrome, among other chronic conditions, submitted its annual report for the fiscal-year ending March 31, 2015 on Form 10-K filed with the Securities and Commission on July 13, 2015.

The following are some of the key financial highlights of the Company for the fiscal-year ended March 31, 2015 as reported in the annual report.

– Revenues grew 11.4% to approximately $37.94 million from $34.06 million in fiscal-year 2013.

– Gross profits increased to $19.37 million from $17.93 million in fiscal-year 2013, which was an 8% year over year increase.

– Net income increased to $8.89 million from $8.12 million in fiscal-year 2013, which was a 9.5% year over year increase.

– Earnings per share were $0.30, compared to $0.27 in fiscal-year 2013, which was a 11.11% year over year increase.

– Comprehensive income of $9.01 million increased by 0.5%, compared to comprehensive income of $8.96 million in fiscal-year 2013.

– Gross margins continue to remain high in fiscal-year 2014 at 51%.

– As of March 31, 2015, China YCT held $13.08 million in cash and cash equivalents with no long term debt.

– HUOLIYUAN sales increased 14.7% in fiscal-year 2014, compared to the prior year. Such sales were $27.09 million, which accounted for 71.47% of our total revenues for fiscal-year 2104 and generated gross profits of $13.55 million.

Mr. Tinghe Yan. Chairman and CEO of China YCT, commented: “Our record fiscal-year’s financial performance is a testament to the quality of our health products, particularly the growing and widespread acceptance of doctor-prescribed HUOLIYUAN throughout China. Looking ahead, we see strong complementary growth in our over-the-counter health supplement and other products, particularly once we execute a sublicense agreement with Shandong YCT to use the latter’s direct marketing license to distribute our products, which can grow our sales exponentially. The Chinese retail culture has embraced direct sales as one of the most successful channels for retail distribution.”

SUBSEQUENT EVENT

The Company’s Form 10-K filed on July 13, 2015, discloses on page 5 under the heading “Marketing” that the Company had obtained a direct marketing license on May 22, 2015. In fact, Shandong Yong Chun Tang Bioengineering Co., Ltd. (“Shandong YCT”), the Company’s former parent, had received this direct marketing license, not the Company. The Company is in contract negotiations with Shandong YCT for a sublicense to distribute some of the Company’s health products through direct sale channels.

About China YCT International Group, Inc.

China YCT is a U.S. public company that has its primary operations in China. Headquartered since 2007 in Shui County, Shandong Province – a County adjacent to the historic city of Qufu known for the birthplace of Confucius – China YCT principally operates through two wholly-owned subsidiaries, Landway Nano Bio-Tech Group, Inc., incorporated in Delaware, and Shandong Spring Pharmaceutical Co., Ltd. (“Shandong Spring Pharmaceutical”), a corporation organized in China. Shandong Spring Pharmaceutical is engaged in the business of developing, manufacturing and selling its own medicine made primarily from ginseng extract, development of the acer truncatum bunge planting bases, and distributing health care supplement products manufactured by another company in China.

Safe Harbor Statement

All statements in this press release that are not historical are forward-looking statements made pursuant to the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. There can be no assurance that actual results will not differ from the company’s expectations. China YCT’s actual results may differ from its projections. Further, preliminary results are subject to normal year-end adjustments. You are cautioned not to place undue reliance on any forward-looking statements in this press release as they reflect China YCT’s current expectations with respect to future events and are subject to risks and uncertainties that may cause actual results to differ materially from those contemplated. Potential risks and uncertainties include, but are not limited to, the risks described in China YCT’s filings with the Securities and Exchange Commission.

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Company Contact:

China YCT International Group, Inc.
Mr. Zecheng Shao
Vice President
Phone: 011-86-537-4268276
Email: zc_shao@126.com

SOURCE: China YCT International Group, Inc.

ReleaseID: 430696