KUNMING, China, Nov. 12 /Xinhua-PRNewswire-FirstCall/ -- China Shenghuo
Pharmaceutical Holdings, Inc. (Amex: KUN) ('China Shenghuo' or the 'Company'),
which is engaged in the research, development, manufacture, and marketing of
pharmaceutical, nutritional supplement and cosmetic products in the People's
Republic of China, today announced that the NYSE Alternext US LLC (formerly
the American Stock Exchange) (the 'Exchange') has accepted the Company's plan
of compliance for continued listing.
On August 21, 2008 the Company received notice from the Exchange staff
indicating that the Company is below certain of the Exchange's continued
listing standards. Specifically, the Company is not in compliance with
Sections 134 and 1101 of the Exchange's Company Guide due to the fact that it
failed to file with the Securities and Exchange Commission, its Form 10-Q for
the period ended June 30, 2008 (the 'Form 10-Q').
The Company submitted a plan of compliance (the 'Plan') to the Exchange on
September 12, 2008 and has engaged in discussions with the Exchange since then.
On November 5, 2008, the Exchange notified the Company that it has accepted
the Company's Plan and granted the Company an extension until November 19,
2008 to file the Form 10-Q and to regain compliance with the continued listing
standards noted above. The Company will be subject to periodic review by
Exchange staff during the extension period. Failure to make progress
consistent with the Plan or regain compliance with the continued listing
standards by the end of the extension period could result in the Company being
delisted from the Exchange.
Mr. Gui Hua Lan, Chief Executive Officer of China Shenghuo, stated, 'We
are executing on our plan and believe the successful execution of this plan
will enable us to regain compliance with the Exchange's listing standards.'
About China Shenghuo
Founded in 1995, China Shenghuo is a specialty pharmaceutical company that
focuses on the research, development, manufacture and marketing of Sanchi-
based medicinal and pharmaceutical, nutritional supplement and cosmetic
products. Through its subsidiary, Kunming Shenghuo Pharmaceutical (Group) Co.,
Ltd., it owns thirty SFDA (State Food and Drug Administration) approved
medicines, including the flagship product Xuesaitong Soft Capsules, which has
already been listed in the Insurance Catalogue. At present, China Shenghuo
incorporates a sales network of agencies and representatives throughout China,
which markets Sanchi-based traditional Chinese medicine to hospitals and drug
stores as prescription and OTC drugs primarily for the treatment of
cardiovascular, cerebrovascular and peptic ulcer disease.
