Comments on recent inquiries
Dr. Ying Luo, President and CEO of GNI Group Ltd. commented as follows regarding recent inquiries from shareholders.
"Recently, we received a lot of questions regarding stock price movement from our shareholders. Although we refrain from commenting on stock price movement, we would like to answer some questions of common interest.
1) News about US/China trade war:
GNI's subsidiaries in US/ Berkeley Advanced Biomaterial LLC, and China/ Beijing Continent Pharmaceutical Co., Ltd have the vast majority of their business inside US or China individually. The trade war so far has no material impact on the business of either company. We will release financial results on August 14 to the public.
2) Market environmen:
Although the biotech sector in both Japan and China are volatile, the management of GNI holds the view that a good performing company will eventually be visible to investors. At this moment, the management is focusing on growing the sales, developing new drugs, and finishing the construction of new factory. Volatility of the stock market won't affect the goals of our operation. We believe our strategies will bear fruits and bring benefits to our shareholders.
3) News release:
We will release news as timely disclosure or "information" when required by TSE rule or determined as material. But we are not able to answer large number of phone calls any longer because the company only has a small IR team to keep the cost low. But we will answer questions in a timely fashion through email if such questions are of common interest from many shareholders and are in line with our inquiry policy."