Renhuang Pharmaceuticals announces resignation of chief financial officer

Aug 8 2010

Renhuang Pharmaceuticals, Inc. (NYSE Amex: CBP) ("Renhuang" or the "Company"), a developer, manufacturer and distributor of botanical products, bio-pharmaceuticals and traditional Chinese medicines ("TCM"), today announced that on August 3, 2010, Ms. Yan Yi Chen, the Company's Chief Financial Officer, resigned for personal reasons effective immediately.

Until a replacement is named, all accounting and finance functions will report directly to Mr. Guojian Li, Finance Manager. The Company has immediately begun a search for a suitable replacement for Ms. Chen.

"I have enjoyed tremendously working with Renhuang," stated Ms. Chen. "I wish Renhuang and my former colleagues every success in the future."

"During Ms. Chen's tenure Renhuang became a fully-reporting company and obtained a listing on a senior US exchange. In addition she was instrumental in strengthening our financial systems and processes. We thank her for all her contributions and wish her the best of luck as she goes on to pursue other opportunities," said Mr. Shaoming Li, the Company's Chairman and Chief Executive Officer. "Mr. Guojian Li has been in senior finance roles at the Company for six years, and we have every confidence in his ability to lead our finance team during this transition period."