August 11 – Chengdu Hoist (000790.SZ) signed a contract with Chengdu University of TCM to jointly develop medicinal alternatives to antibiotics for humans and animals, reports yicai.com, citing a company filing. Specifically, Chengdu Hoist will invest one million yuan to jointly develop new injection treatments for treat milk cow mastitis, test the impact of new human-use medicines on animals, extensively research related Chinese medicines.

The project is in its primary stage and will not have a significant effect on 2011 performance.

Source:CapitalVue