EL MONTE, Calif., Aug. 9, 2016 /PRNewswire/ -- Yew Bio-Pharm Group, Inc. ("Yew Bio" or the "Company") (OTCBB: YEWB) announced today that it has established a wholly-owned B2C cross-border e-commerce subsidiary, and the company has also been initiated the process of website building recently. This e-commerce platform is expected to start pilot run in the middle of September, 2016. The website establishment will be a milestone for the Company that Yew Bio accelerates the expansion and development of its business in the US market. In addition to the current business categories, the company also try to explore different business areas that brings new profit growth.
The website is poised to be a comprehensive B2C cross-border e-commerce platform. The potential consumers the website will cover are not only limited to the increased oversea Chinese communities, but also the global consumer market. The consumers will be able to purchase different kinds of products directly from the website. In the initial phase, the website will list some products of the brands that the Company owns such as health products, daily necessities, accessories and high-end cosmetic products. We will also list the products of other high quality brands on the website in the future.
According to the "Information Economy Report 2015" issued by the UN conference on trade and development, global Gross Merchandise Volume (GMV) of B2C e-commerce has reached 1.2 trillion US dollars. The trading mode of e-commerce also constantly gains weight in global economy. According to Global Connectivity Index Report 2016: the total global GMV of e-commerce trading has reached 24 trillion US dollars, accounted to 30% of total global trading.
"Cross-border e-commerce is a new type of trading and business form. It represents a trillion-dollar-level market, and has great potential for development." said Mr. Zhiguo Wang, Chairman and Chief Executive Officer of Yew Bio-Pharm Group, Inc. "Our website establishment has widened the path for Yew Bio to access to international markets, and has created new opportunities for the company to build an international brand. Meanwhile, the subsidiary will not only help Yew Bio to optimize resources, but also to provide opportunity for the company to adjust the business emphasis. We will expect to see U.S. revenue growth along with the new business category launched."
ABOUT YEW BIO-PHARM GROUP, INC.
Yew Bio-Pharm Group, Inc., through its operating entity, Harbin Yew Science and Technology Development Co., Ltd. (HDS), is a major grower and seller of yew trees, yew raw materials used in the manufacture of traditional Chinese medicine (TCM), and products made from yew timber in China. Raw material from the species of yew tree that the Company grows contains Taxol. TCM containing yew raw materials has been approved as a traditional Chinese medicine in China for secondary treatment of certain cancers. The Company uses a patented, accelerated growth technology to speed the growth, maturity, and commercialization of yew trees and believes that it is one of the few companies possessing a permit to sell them. Yew Bio-Pharm recently also established a division to focus on organic foods and dietary supplements with the aim of developing new business opportunities in related industries. To learn more, please visit www.yewbiopharm.com
SOURCE Yew Bio-Pharm Group, Inc.