Wednesday 14th May 2008
Sunrise forges Japanese link
Beijing-based Sunrise Biotech Holding is poised to make inroads into Japan after raising £1.5 million at 15p.
Headed by founder Yonghu Li, the company, which came to the PLUS Quoted market in January, produces tea, herbal remedies and animal fodder from mulberry trees grown near the Chinese capital and has recently signed up a formidable Japanese distributor. Sunrise increased profits more than tenfold to £1.4 million in 2006 on turnover trebled to £1.8 million and analysts expect 2007’s results to show further growth.
Sunrise shares were introduced to PLUS at 17p and are now quoted at 19.5p (with a 3p spread). That values the company at nearly £51 million.
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