China Yongxin Pharmaceuticals, Inc. (CYXN.OB) Posts FY 2009 Results Boosted by China Economy
China Yongxin Pharmaceuticals Inc., a vertically integrated health products company in China, today announced its financial results for the year ended December, 31, 2009. The company’s 2009 net income increased 26 percent to $5.1 million, up from the $4.1 million reported in 2008. The company attributes the increase to higher margin sales and an increase in profits driven by retail product sales. Revenues for the year ended December 31, 2009, decreased 19.5 percent to $47.6 million compared to $59.1 million for 2008. The decrease was due to the switch from a wholesale business strategy to the retail and medical facilities…