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China Yongxin Pharmaceuticals
Inc. Completes Reverse Merger
May 19, 2008
China Yongxin Pharmaceuticals Inc.
(OTCBB:CYXN), a leading manufacturer, distributor and retailer of
pharmaceuticals in Northeastern China, announced that it has
completed its previously announced reverse merger with Nutradyne
Group, Inc. and, to better reflect the Company's true business, has
changed its corporate name to China Yongxin Pharmaceuticals Inc. as
well as its ticker symbol to "OTCBB: CYXN."
"We felt the corporate name change provided a much clearer
reflection of China Yongxin Pharmaceutical's true business
operations as one of the fastest growing manufacturing, distribution
and retail chain operators of pharmaceutical stores throughout
China," said Yongxin Liu, China Yongxin Pharmaceutical's Chairman
and CEO. "More importantly, with the last stage of the reverse
merger completed and access to the U.S. capital markets, we can now
focus our efforts towards the execution of our business plan which
calls for the creation of one of China's largest retail network of
drug chain stores."
About China Yongxin Pharmaceuticals, Inc.
China Yongxin Pharmaceuticals Inc. (OTCBB:CYXN) was founded in 1993
as the Changchun Yongxin Dirui Medical Co. (Yongxin), a wholesale
drug distributor. Its products include Chinese traditional
medicines, Chinese traditional medical teas, chemical pharmaceutical
preparations, natural health products, healthy food, cosmetics, and
medical equipment. It began retail operations in 2001 and, in 2005,
gained franchise rights from the Medicine Shoppe(R) chain for
China's Jilin Province. By the end of 2007 it had 90 retail outlets
as well as wholesale distribution and manufacturing operations. Its
primary market has been in Northeastern China.
Forward Looking Statements: This news release contains certain
"forward-looking statements." Forward-looking statements are based
on current expectations and assumptions and are inherently subject
to risks and uncertainties, some of which cannot be predicted or
quantified, and many of which are beyond the Company's control.
Actual results could differ materially from these forward-looking
statements as a result of a number of risk factors detailed in the
Company's periodic reports filed with the SEC. Given these risks and
uncertainties, investors are cautioned not to place undue reliance
on such forward-looking statements and no assurances can be given
that such statements will be achieved. China Yongxin Pharmaceuticals
Inc. does not assume any duty to publicly update or revise the
material contained herein.
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