Asia Bio-Chem Group

[Press Release] Asia Bio-Chem Group Corp. Announces Third Quarter Financial Results

13 Nov 2009 18:36:00 GMT

TORONTO, Nov. 13 /CNW/ -- Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced its interim financial statements for the three month period ending September 30, 2009.

In recognition for the work undertaken in completion of the Daqing plant, the Company further announces that it has granted stock options to certain members of management of the Company.


Interim Financial Results
Highlights
-   Asia Bio-Chem achieved it's third consecutive quarter of improvement
in gross margin and growth in cash flow. In the third quarter gross
margin improved to 16.7% while EBITDA, excluding the (non-cash)
stock-based compensation expense, improved by 14% over the
second quarter to $2.3 million.
-   The Company successfully completed the Daqing plant construction, on
budget and on schedule and began production in October 2009. Up to
September 30, 2009, the Company has invested approximately
$80.0 million on Daqing project, which, at full capacity, will triple
the Company's processing capacity to 900,000 tonnes of corn per year
-   During the third quarter of 2009, the Company received the second
drawdown of RMB 20 million ($3.2 million) under its RMB 100 million
loan facility with Zhaoyuan County Government. Subsequent to
September 30, 2009, the Company received the third drawdown of
RMB 20 million ($3.2 million).
-   As at September 30, 2009, the Company had $4.0 million in cash and
$25.4 million in government and bank debt outstanding.

Asia Bio-Chem, today reported third quarter sales of $23.2 million representing a 7.8% increase compared to the corresponding period of 2008. This increase was due to increased selling prices for starch, higher volumes and the improvement in the value of the Chinese RMB relative to the Canadian Dollar.

Gross profit during the third quarter was the highest achieved during fiscal 2009 at $3.9 million or 16.7% of sales. This improvement was primarily due to improved markets for starch which has been driven by higher sweetener prices.

"We are pleased to see that market conditions have begun to improve particularly for our starch product following a difficult first half. With the completion of our new Daqing facility, our Company is well positioned to take advantage of this improvement in demand." stated Mr. Zhiping Wang, President and CEO of Asia Bio-Chem.

Improved gross profit combined with lower distribution expenses and stock-based compensation charges resulted in the highest level of income from operations in 12 months at $1.4 million during the quarter.


SUMMARY FINANCIAL STATEMENTS
in thousands of Canadian dollars except        3 Months to   3 Months to
shares, per share and percentage data              9/30/09       9/30/08
------------- -------------
Sales                                               23,202        21,516
Gross profit                                         3,877         4,438
Gross margin (% of Sales)                             16.7%         20.6%
Operating expenses                                   2,456         2,343
Income from operations                               1,421         2,095
Other income (expense)                                (327)          129
Income taxes                                           265           278
Net income                                             828         1,946
EBITDA                                               1,688         2,470
EBITDA before Stock-based compensation               2,288         3,702
Earnings per share
Basic and diluted                                   0.01         $0.03
Weighted average number of shares
Basic and diluted                             76,777,025    76,777,025
Balance Sheet Highlights
As at         As at
9/30/09      12/31/08
------------- -------------
Cash                                                 4,001        10,489
Working Capital                                        305         5,154
Total assets                                       128,764       113,144
Current Ratio                                       1.01:1        1.28:1

Compared with the previous two quarters, improved gross margin, lower stock-based compensation expense and lower distribution expenses caused net income to increase to $0.8 million during the third quarter of 2009.

During the third quarter, the Company's cash position was $4.0 million as at September 30, 2009. Additional drawdown of the long term loan facility with Zhaoyuan County Government contributed to the Company's cash position.

Daqing Project

As of late October, the Daqing plant construction is complete and the facility is ramping up production. By the end of the current year the Daqing facility is expected to be producing in excess of 90% capacity representing annual processing capacity of over 810,000 tonnes of corn.

Long term financing which has been incurred in construction of the Daqing project currently represents RMB 160 million ($25.4) including facilities from both China Construction Bank and Zhaoyuan County Government. The remaining capital commitments relating to the Daqing construction represent $4.7 million due in the fourth quarter of 2009 and $14 million in holdbacks and notes due in 2010. These obligations are expected to be financed with a combination of cash flow and bank debt.

Option Grants

In recognition for the work undertaken in completion of the Daqing plant, the Company further announces that it has granted an aggregate of 800,000 stock options pursuant to its Amended and Restated 2009 Stock Option Plan to certain members of management of the Company. The options are exercisable for 5 years at an exercise price equal to the closing price of the shares as of the date of this announcement and shall vest over a 3 year period.

Conference Call

Asia Bio-Chem will be hosting a conference call to discuss the third quarter results at 9 am Monday, November 16, 2009. The details are as follows:


Dial in number:  1-800-594-3790  or  416-644-3423
Taped replay:    1-877-289-8525  or  416-640-1917
Pass Code: 4181683 followed by the number sign
(available until November 30th , 2009)

About Asia Bio-Chem Group Corp.

Asia Bio-Chem Group, through its wholly-owned subsidiaries in the Peoples Republic of China ("PRC") is in the business of manufacturing cornstarch and related byproducts. From its plants in Liaoning and Heilongjiang Province, the Company has a total processing capacity of 900,000 tonnes of corn. The Company products include cornstarch, corn germ, gluten and fiber which are sold into the domestic Chinese market.

This news release contains certain statements that may be deemed "forward looking statements". Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects,", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in forward looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward looking statements, except as required by law, in the event that management's beliefs, estimates or opinions, or other factors, should change.

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.


THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS
NEWS RELEASE.

Source: CNW (November 13, 2009 - 1:36 PM EST)

[Press Release] Asia Bio-Chem Group Corp. release of third quarter results and conference call

04 Nov 2009 16:22:00 GMT

TORONTO, Nov. 4 /CNW/ -- Asia Bio-Chem Group Corp. (TSXV: ABC) ) today announced that it will release its third quarter results on November 13th, 2009 at approximately 1 pm eastern standard time. The Company will also hold a conference call to discuss its quarterly results hosted by Mr. Zhiping Wang, President and C.E.O, Mr. Robert Wilson, Executive Vice President, and Ms. Elaine Zhao, Chief Financial Officer. Details regarding the call are as follows:


Date:             Monday, November 16, 2009
Time:             9:00 a.m., Eastern Time
Dial in number:   1-800-594-3790 or 416-644-3423
Taped Replay:     1-877-289-8525 or 416-640-1917 (available until
November 30th, 2009)
Replay Pass Code: 4181683 followed by the number sign

About Asia Bio-Chem Group

Asia Bio-Chem Group, through its wholly-owned subsidiaries in the Peoples Republic of China ("PRC") is in the business of manufacturing cornstarch and related byproducts. From its plants in Liaoning and Heilongjiang Province, the Company has a total capacity of 900,000 tonnes of corn which is processed to produce cornstarch, corn germ, gluten and fiber per year for sale into the domestic Chinese market.


THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (November 4, 2009 - 11:22 AM EST)

[Press Release] Asia Bio-Chem Group Corp. Announces the Commencement of Production...

02 Nov 2009 14:24:00 GMT

Asia Bio-Chem Group Corp. Announces the Commencement of Production at its Daqing Facility

TORONTO, Nov. 2 /CNW/ -- Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") is pleased to announce that production has begun at it's new Daqing corn processing plant.

The Daqing plant has began producing products and management expects to ramp up production during the next 60 days to achieve 85%-90% capacity by year end.

The Company also announces that it has received the third drawdown of RMB 20 million ($3.2 million) under its RMB 100 million loan facility with Zhaoyuan County Government. This loan facility has a 5 year term and bears interest at 1% per annum.

"We are extremely pleased to announce that our Daqing facility is operating as expected," said Zhiping Wang, President and CEO of Asia Bio-Chem. Mr. Wang added "With the strong support from our existing and new customers we expect to see a significant contribution to revenues and profit from the Daquing plant over the coming months."

About Asia Bio-Chem Group Corp.

Asia Bio-Chem Group, through its wholly-owned subsidiaries in the Peoples Republic of China ("PRC") is in the business of manufacturing cornstarch and related byproducts. From its plants in Liaoning and Heilongjiang Province, the Company has a total capacity of 900,000 tonnes of corn which is processed to produce cornstarch, corn germ, gluten and fiber per year for sale into the domestic Chinese market.


THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (November 2, 2009 - 9:24 AM EST)

[Press Release] Asia Bio-Chem Group Corp. Nears Completion of its Daqing Production Facility

08 Sep 2009 15:14:00 GMT

TORONTO, Sept. 8 /CNW/ -- Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") announced that it is nearing completion of the Daqing corn processing plant.

The Company is currently entering single machine test run phase of the project followed by complete production line water test run towards the end of September. After the 60th National Day and Moon Festival holidays from October 1st thru 8th, the Company will start commissioning with production from mid October. The Company expects to ramp up production during its fourth quarter and achieve 85%-90% capacity by year end.

The company also announced that it has received the second drawdown of RMB 20 million ($3.6 million) under its RMB 100 million facility with Zhaoyuan County Government.

"We are pleased to announce that our Daqing facility is nearing completion," said Zhiping Wang, President and CEO of Asia Bio-Chem. Mr. Wang added "With the strong support from our existing and new customers we expect to see a significant contribution to revenues and profit from the Daquing plant over the coming months."

About Asia Bio-Chem Group Corp.

Asia Bio-Chem Group, through its wholly-owned subsidiary in the Peoples Republic of China ("PRC") is in the business of manufacturing cornstarch and related products. From its plant in Liaoning Province, the Company produces approximately 270,000 tonnes of cornstarch, corn germ, gluten and fiber per year for sale into the domestic market in the PRC. The Company is currently constructing a second facility in Heilongjiang Province which, upon completion, is expected to triple production capacity.


THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: PR Newswire (September 8, 2009 - 11:14 AM EDT)

[Press Release] Asia Bio-Chem Group Corp. Announces Second Quarter Financial Results

14 Aug 2009 16:15:00 GMT

TORONTO, Aug. 14 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced its interim financial statements for the three month period ending June 30, 2009.

Interim Financial Results

Highlights

    -  Excluding the (non-cash) stock-based compensation expense, income
       from operations and EBITDA during the second quarter of 2009 was
       $1.5 million and $2.0 million respectively.

    -  The Company achieved gross profit of $3.6 million during the
       second quarter representing 15.3% of sales. This improvement arose
       as a result of improved product prices achieved during the
       quarter.

    -  The Daqing plant construction is on schedule and on budget with
       about $65.5 million of construction in progress incurred as of
       June 30, 2009. Outstanding commitments in 2009 relating to Daqing
       represent $16.9 million which will be satisfied from cash flow and
       bank loans.

    -  During the second quarter of 2009, the Company obtained RMB 100
       million ($16.9 million) term loan from China Construction Bank and
       RMB 100 million ($16.9 million) term loan from Zhaoyuan County
       Government. As of June 30, 2009, RMB 20 million ($3.4 million) of
       the Zhaoyuan County Government loan facility had been advanced.
       The remaining RMB 80 million ($13.5 million) of the loan is under
       negotiation with the Zhaoyuan County Government.

    -  As at June 30, 2009, the Company had $10.3 million in cash and
       $24.5 million in bank debt.

Asia Bio-Chem, today reported second quarter sales of $23.3 million representing a 8.9% increase compared to the corresponding period of 2008. This increase was due to the improvement in the value of the Chinese RMB relative to the Canadian Dollar which offset lower selling prices and volumes when compared with the second quarter of 2008.

Gross profit declined to $3.6 million during the quarter representing a 26.6% decrease over the same quarter of 2008. This reduction was primarily due to lower selling prices particularly in germ as well as 6.3% higher corn cost experienced during the quarter compared with the second quarter of 2008.

"We are pleased to see that market conditions have begun to improve for our products following a difficult first quarter. We expect that the continued recovery in our industry will bode well for our Company as our new facility comes on stream in the fourth quarter of this year." stated Mr. Zhiping Wang, President and CEO of Asia Bio-Chem.

During the second quarter, stock-based compensation expense of $0.9 million and higher selling and distribution expenses contributed to a decline in income from operations to $0.6 million.

SUMMARY FINANCIAL STATEMENTS
in thousands of Canadian dollars except
shares, per share and percentage data           3 Months to  3 Months to
                                                    6/30/09      6/30/08
                                                ------------ ------------
Sales                                                23,299       21,398
Gross profit                                          3,558        4,850
Gross margin (% of Sales)                              15.3%        22.7%
Operating expenses                                 (x)2,957        1,297
Income from operations                                  601        3,554
Other income (expense)                                 (107)          17
Income taxes                                             65          633
Net income                                              430        2,938
EBITDA                                                1,088        3,760
EBITDA before Stock-based compensation                2,007        3,965
Earnings per share
  Basic and diluted                                    0.01        $0.06
Weighted average number of shares
  Basic and diluted                              76,777,025   53,271,948
Balance Sheet Highlights

                                                      As at        As at
                                                    6/30/09     12/31/08
                                                ------------ ------------
Cash                                                 10,334       10,489
Working Capital                                      18,566        5,154
Total assets                                        120,506      113,144
Current Ratio                                        2.61:1       1.28:1

(x) Includes a $918,624 non-cash charge for stock-based compensation
    expense

Reduced gross margins, stock-based compensation expense and the higher selling, general and administrative expenses caused net income to decline from $2.9 million during the second quarter of 2008 to $0.4 million during the second quarter of 2009.

During the second quarter, the Company's cash position increased to $10.3 million as at June 30, 2009. Drawdown of the long term loan facility from the China Construction Bank in the amount of $16.9 million contributed to the Company's cash position.

Daqing Project

The Daqing plant construction is near completion with approximately $65.5 million of construction in progress incurred as of June 30, 2009. The remaining capital required to complete the project and current obligations associated with the project are expected to be financed with a combination of cash flow from operations and the recently announced financings from both China Construction Bank and Zhaoyuan County Government. The total amount of these facilities is RMB 200 million ($34 million) of which RMB 120 million ($20 million) has been drawn down as at June 30, 2009.

Conference Call

Asia Bio-Chem will be hosting a conference call to discuss the second quarter results and its proposed acquisition at 9 am Tuesday, August 18, 2009. The details are as follows:

Dial in number:    1-800-732-9307 or 416-644-3416

Taped replay:      1-877-289-8525 or 416-640-1917
                   Pass Code: 21312873 followed by the number sign
                   (available until September 1st , 2009)

About Asia Bio-Chem Group Corp.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (August 14, 2009 - 12:15 PM EDT)

[Press Release] Asia Bio-Chem Group Corp. receives long-term financing from China Construction

08 Jun 2009 13:26:00 GMT

/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/

TSX Venture: ABC

TORONTO, June 8 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced that its wholly-owned subsidiary, Daqing Biochemical has secured a long-term loan from China Construction Bank in the amount of 100 million RMB ($18.9 million).

The loan will be secured against the assets of the Company's Daqing Plant and will bear a floating rate of interest based on the People's Central Bank Rate. The term of the loan will be 6 years with annual repayment commencing from June 2010.

"We are pleased to announce this financing agreement," said Zhiping Wang, President and CEO of Asia Bio-Chem. Mr. Wang added, "This loan facility, coupled with the previously announced loan from the Zhaoyuan County Government, will be more than sufficient to finance the completion of our Daqing project."

About Asia Bio-Chem Group Corp.

Asia Bio-Chem Group, through its wholly-owned subsidiary in the People's Republic of China ("PRC") is in the business of manufacturing cornstarch and related products. From its plant in Liaoning Province, the Company produces approximately 270,000 tonnes of cornstarch, corn germ, gluten and fiber per year for sale into the domestic market in the PRC. The Company is currently constructing a second facility in Heilongjiang Province which, upon completion, is expected to triple production capacity.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (June 8, 2009 - 9:26 AM EDT)

[Press Release] Asia Bio-Chem Group Corp. announces the results of its Annual General Meeting

28 May 2009 18:43:00 GMT

TORONTO, May 28 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced the results of its annual and special meeting (the "Meeting") of shareholders held on May 27, 2009.

All five management nominees were elected to serve as directors of the Company. Each of Zhiping Wang, Robert Wilson, Brent Majkrzak, William Thomson and Jeremy Kendall were all elected as directors to serve for the ensuing year. In addition, the shareholders of the Company duly approved the appointment of Manning Elliott LLP as the Company auditor and the adoption of the Amended and Restated 2009 Incentive Stock Option Plan as described in the Company's Proxy Circular dated April 16, 2009. Under the Amended and Restated 2009 Incentive Stock Option Plan, an aggregate of 11,516,554 common shares are reserved for issuance upon the exercise of stock options granted or to be granted.

The Company further announces that it has granted an aggregate of 975,000 stock options pursuant to its Amended and Restated 2009 Stock Option Plan to certain directors and officers of the Company. The options are exercisable for 5 years at an exercise price equal to the closing price of the shares as of the date of this announcement.

About Asia Bio-Chem Group Corp.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT

RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS

RELEASE.

[Press Release] Asia Bio-Chem Group Corp. Announces First Quarter Financial Result

15 May 2009 16:43:00 GMT

TORONTO, May 15 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced its interim financial statements for the three month period ending March 31, 2009.

Interim Financial Results

Highlights

-   Excluding the (non-cash) stock-based compensation expense, income
    from operations and EBITDA during the first quarter of 2009 was
    $0.7 million and $1.1 million respectively.

-   The Daqing plant construction is on schedule with approximately
    $65 million of construction in progress incurred as of
    March 31, 2009.

-   The Company has secured debt financing from both the
    China Construction Bank and Zhaoyuan County Government. The total
    amount of these facilities is RMB 135 million ($25 million) of which
    RMB 35 million ($6.4 million) has been drawn down as at
    March 31, 2009, approximately RMB 20 million ($3.6 million) received
    subsequent to March 31, 2009, and approximately RMB 80 million
    ($15 million) is being negotiated with the PRC government.

-   As at March 31, 2009, the Company had $3.0 million in cash and
    $6.4 million in bank debt.

Asia Bio-Chem, today reported first quarter sales of $19.0 million representing a 4.3% decline compared to the corresponding period of 2008. Lower selling prices and volumes contributed to this reduction.

Gross margin declined to $2.7 million during the quarter representing a 52.4% decrease over the same quarter of 2008. This reduction was primarily due to lower selling prices particularly in germ, fiber and starch products as well as a reduction in sales volume.

"The challenging market conditions from our fourth quarter continued into the first quarter of 2009 as the economic slowdown in China coupled with government purchases of corn had a negative effect on our gross profit," stated Mr. Zhiping Wang, President and CEO of Asia Bio-Chem.

During the first quarter, stock-based compensation expense of $1.2 million and higher general and administrative expenses associated with the Company's public company status caused income from operations to decline to a loss of $0.5 million.

SUMMARY FINANCIAL STATEMENTS

in thousands of Canadian dollars
 except shares, per share and                3 Months to     3 Months to
 percentage data                                 3/31/09         3/31/08
                                            -------------  --------------

Sales                                             19,031          19,895
Gross profit                                       2,423           5,085
Gross margin (% of Sales)                          12.8%           25.6%
Operating expenses                              (x)2,923             951
Income from operations                              (502)          4,134
Other income                                        (179)           (441)
Income taxes                                         157             569
Net income                                          (837)          3,124
Comprehensive net income                           1,013           5,542
EBITDA                                              (169)          3,869
EBITDA before Stock-based compensation             1,063           3,869
Earnings per share
  Basic and diluted                               ($0.01)          $0.08
Weighted average number of shares
  Basic and diluted                           76,777,025      37,540,000

Balance Sheet Highlights

                                                   As at           As at
                                                 3/31/09        12/31/08
                                            -------------  --------------
Cash                                               3,040          10,489
Working Capital                                    5,836           5,154
Total assets                                     112,848         113,144
Current Ratio                                     1.38:1          1.28:1

(x) Includes a $1.2 million non-cash charge for stock-based compensation
    expense

Reduced gross margins, stock-based compensation expense and the higher selling, general and administrative expenses caused net income to decline from $3.1 million during the first quarter of 2008 to a loss of $0.8 million during the first quarter of 2009.

The Company's cash position declined to $3.0 million as at March 31, 2009 as $8.1 million was used in operating activities during the quarter. A loan from the China Construction Bank in the amount of $6.3 million contributed to the Company's cash position.

Daqing Project

The Daqing plant construction is well underway with approximately $65 million of construction in progress incurred as of March 31, 2009. The remaining capital required to complete the project and current obligations associated with the project are expected to be financed with a combination of cash flow from operations, bank and government financing.

As announced on March 16th 2009 and on April 15, 2009, the Company has entered into a loan agreements with China Construction Bank and Zhaoyuan County Government. The total amount of these facilities is RMB 135 million ($25 million) of which RMB 35 million ($6.4 million) has been drawn down.

Conference Call

Asia Bio-Chem will be hosting a conference call to discuss the second
quarter results and its proposed acquisition at 2 pm Friday, May 15, 2009. The
details are as follows:

Dial in number:       1-800-731-5774 or 416-644-3421

Taped replay:         1-877-289-8525 or 416-640-1917
Pass Code:            21305265 followed by the number sign
                      (available until May 29th, 2009)

About Asia Bio-Chem Group Corp.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (May 15, 2009 - 12:43 PM EDT)

[Press Release] China Rising Investment Conference to Ring The NASDAQ Stock Market Closing Bell

15 May 2009 14:00:00 GMT


 What:
 Representatives from Chinese companies will visit the NASDAQ
 MarketSite in New York City's Times Square to mark the China Rising
 Investment Conference at the Yale Club on May 18th, 2009.

 In honor of the occasion, Crocker Coulson, President of CCG Investor
 Relations, will preside over the Closing Bell. He will be joined by
 representatives from Chinese companies.

 Who:
 Some of the participating companies include:

 * Zhongpin Inc.  (Nasdaq:HOGS)
 * Yuhe International Inc (OTCBB:YUII)
 * Silicon Motion (Nasdaq:SIMO)
 * Puda Coal, Inc (OTCBB:PUDC)
 * Jiangbo Pharmaceuticals, Inc. (OTCBB:JGBO)
 * Hong Kong Highpower Technology, Inc. (AMEX:HPJ)
 * Dragon Pharmaceutical Inc. (OTCBB:DRUG)
 * China Yida Holding (OTCBB:CYID)
 * China Wind Systems, Inc. (OTCBB:CWSI)
 * China Transinfo Technology (Nasdaq:CTFO)
 * China Nutrifruit Group Limited (OTCBB:CNGL)
 * China Medicine Corporation (OTCBB:CHME)
 * China Biologic Products, Inc. (OTCBB:CBPO)
 * China-Biotics, Inc. (Nasdaq:CHBT)
 * ATA, Inc. (Nasdaq:ATAI)
 * Asia Biochem Group Corp. (TSX-V:ABC)
 * American Lorain Corporation (OTCBB:ALRC)

 Where:
 NASDAQ MarketSite - 4 Times Square - 43rd & Broadway - Broadcast Studio

 When:
 Monday, May 18th, 2009 at 3:45 p.m. to 4:00 p.m. ET

 Contacts:
 Mabel Zhang
 CCG Investor Relations
 (310) 954-1353 (office)
 Mabel.zhang@ccgir.com

 NASDAQ MarketSite:
 Robert Madden
 (646) 441-5045 (office)
 Robert.Madden@NASDAQOMX.com

Feed Information:

The Closing Bell is available from 3:50 p.m. to 4:05 p.m. on AMC-3/C-3 (ul 5985V; dl 3760H). The feed can also be found on Ascent fiber 1623. If you have any questions, please contact Robert Madden at (646) 441-5045.

Radio Feed:

An audio transmission of the Closing Bell is also available from 3:50 p.m. to 4:05 p.m. on uplink IA6 C band / transponder 24, downlink frequency 4180 horizontal. The feed can be found on Ascent fiber 1623 as well.

Webcast:

A live webcast of the NASDAQ Closing Bell will be available at: http://www.nasdaq.com/about/marketsiteto...

Photos:

To obtain a high-resolution photograph of the Market Close, please go to http://www.nasdaq.com/reference/marketsi... and click on the market close of your choice.

About China Rising Investment Conference:

The China Rising Investment Conference will host more than 30 public and private growth companies from China in sectors including consumer staples, agriculture, pharmaceuticals, infrastructure, information technology, advanced materials, capital goods, and alternative energy.

For more information please visit www.ccgirasia.com or the conference website at http://www.chinarisingconference.com/.

About CCG Investor Relations:

CCG is one of the nation's leading investor relations and strategic communications agencies. In business for more than 30 years, the agency provides a complete range of investor communications and counseling services to nearly 80 clients across multiple capital markets. CCG has been awarded a number of industry honors for its handling of complex investor relations and crisis communications matters. The agency's corporate headquarters is in Los Angeles with additional offices in New York; San Francisco; Beijing; Shanghai; Shenzhen; Frankfurt; Tel Aviv; and Dallas, Texas. For further information, contact CCG directly, or visit the Company's Web sites at http://www.ccgir.com and http://www.ccgirasia.com.

About NASDAQ OMX in China:

Currently there are a total of 96 companies listed on NASDAQ from Greater China, of which 78 are from Mainland China, 13 are from Hong Kong/Macao and 5 are from Taiwan. NASDAQ OMX technology powers some of the leading exchanges in Asia including the Hong Kong Exchanges and Clearing Ltd. (HKEX). In December, 2007, NASDAQ was the first U.S. exchange to open its office in Beijing, China.

About NASDAQ OMX:

The NASDAQ OMX Group, Inc. is the world's largest exchange company. It delivers trading, exchange technology and public company services across six continents, with over 3,800 listed companies. NASDAQ OMX Group offers multiple capital raising solutions to companies around the globe, including its U.S. listings market; NASDAQ OMX Nordic, NASDAQ OMX Baltic, NASDAQ OMX First North; and the U.S. 144A sector. The company offers trading across multiple asset classes including equities, derivatives, debt, commodities, structured products and ETFs. NASDAQ OMX Group technology supports the operations of over 70 exchanges, clearing organizations and central securities depositories in more than 50 countries. NASDAQ OMX Nordic and NASDAQ OMX Baltic are not legal entities but describe the common offering from NASDAQ OMX Group exchanges in Helsinki, Copenhagen, Stockholm, Iceland, Tallinn, Riga, and Vilnius. For more information about NASDAQ OMX, visit http://www.nasdaqomx.com.

NDAQA

Source: GlobeNewswire (May 15, 2009 - 10:00 AM EDT)

News by QuoteMedia
www.quotemedia.com

[Press Release] Asia Bio-Chem Group Corp. release of first quarter results and conference call

13 May 2009 14:24:00 GMT

TORONTO, May 13 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) today announced that it will release its first quarter results on May 15th, 2009 at approximately 11am eastern standard time. The Company will also hold a conference call to discuss its quarterly results hosted by Mr. Zhiping Wang, President and C.E.O, Mr. Robert Wilson, Executive Vice President, and Ms. Elaine Zhao, Chief Financial Officer. Details regarding the call are as follows:

          Date:             Friday, May 15, 2009

          Time:             2:00 p.m., Eastern Time

          Dial in number:   1-800-731-5774 or 416-644-3421

          Taped Replay:     1-877-289-8525 or 416-640-1917
                            (available until May 29th, 2009)

          Replay Pass Code: 21305265 followed by the number sign

About Asia Bio-Chem Group

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (May 13, 2009 - 10:24 AM EDT)

[WebLink] TSX Website

13 May 2009 12:58:52 GMT

http://www.tsx.com/

[WebLink] Products

13 May 2009 12:58:38 GMT

http://asiabiochem.com/index.php/products

[Photo] Asia Bio-Chem Completes First Facility Tour

13 May 2009 12:58:01 GMT

Following a group dinner in Changchun, Jilin we traveled to the newly acquired Daqing facility in Zhaoyuan, Heilongjiang.

[Photo] Asia Bio-Chem Completes First Facility Tour

13 May 2009 12:57:40 GMT

Our tour began on October 14th with a tour of the ChangTu, Liaoning facility where our plant is consistently processing corn at peak capacity of 300,000 tonnes per year. The bus route to the ChangTu facility and further north thru Jilin and Heilongjian

[Press Release] Asia Bio-Chem Group receives the first portion of its Government loan facility

15 Apr 2009 11:46:00 GMT

/THIS PRESS RELEASE IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR

DISSEMINATION IN THE UNITED STATES/

TSX Venture: ABC

TORONTO, April 15 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced that it has received the first portion of its long term loan facility with Zhaoyuan County Government. As announced on March 16, 2009, a long term loan will be made available to the Company's wholly owned subsidiary, Daqing Bio in the amount of up to a maximum of RMB 100 million ($18.9 million). The first portion of this loan, in the amount of RMB 20 million ($3.8 million), has been received and will be used to assist the Company with financing its expansion activities in Daqing.

The loan will have a term of 5 years from the date of drawdown and bear interest at 1% per annum payable in advance.

The Company is also pleased to announce that the Zhaoyuan County Government will provide a guarantee as security to Daqing Industrial and Commercial Investment Company Limited ("DICICL"). As such, Daqing Bio will no longer be required to provide this guarantee in connection with the loan facility.

About Asia Bio-Chem Group Corp.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (April 15, 2009 - 1:45 PM EDT)

[Press Release] Asia Bio-Chem announce the resignation of Steven See from the Board of Directors

01 Apr 2009 06:56:00 GMT

/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES/

TSX Venture: ABC

TORONTO, April 1 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced the resignation of Mr. Steven See from the Board of Directors of the Company.

Mr. See has been a director of the company since its public listing in June 2008 and has served as a member of both the audit committee as well as the compensation committee during this time. The departure of Mr. See is for personal reasons and he leaves without any difference of opinion with the Company or with the other board members.

Mr. Zhiping Wang, President and CEO of Asia Bio-Chem stated; "We would like to thank Steven See for his contribution to our board. His experience and insight has been very helpful during our first year as a public company."

The Company has no plans to replace Mr. See and will continue with its remaining five directors.

About Asia Bio-Chem Group Corp.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (April 1, 2009 - 8:56 AM EDT)

[Press Release] /C O R R E C T I O N from Source -- Asia Bio-Chem Group Corp./

16 Mar 2009 12:40:00 GMT

In c8987 transmitted at 09:03e today, an error occurred in the "SUMMARY
FINANCIAL STATEMENTS." The "Earnings per share" and "Weighted average
number of shares" figures were incorrect. Corrected copy follows:

Asia Bio-Chem Group Corp. Announces 2008 Annual Financial Results

/THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN
OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED
STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER
THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR
TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM./

TSX Venture: ABC

TORONTO, March 16 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced its annual financial statements for the period ending December 31, 2008.

2008 Financial Results

Highlights

-   In June 2008, the Company completed a reverse takeover transaction as
    well as closed a private placement for gross proceeds of $30 million.
    This financing was one of the largest financing for a Chinese company
    in Canada and was one of the last achieved in the marketplace before
    the financial crisis took hold.

-   On September 25, 2008, the Company announced the closing of its
    acquisition of 100% interest in Daqing Biochemical Company Ltd.
    ("Daqing Bio") which owns a partially completed corn processing
    facility in Heilongjiang Province. Upon completion of this facility
    in 2009, the Company is expected to approximately triple its
    production capacity.

-   While faced with challenging market conditions in its industry during
    2008, the Company has remained profitable and achieved growth in
    revenues during fiscal 2008 compared with the previous year.

-   The Daqing plant construction is well underway with approximately $63
    million of construction in progress incurred as of December 31, 2008.
    The Company expects the Daqing Plant to be complete and in operation
    by the fourth quarter of 2009.

-   The Company's wholly owned subsidiary, Chang Tu Bio-Chem Technology
    Co. Ltd. ("Changtu Bio") has received a working capital loan from
    China Construction Bank for 35 million RMB ($6.6 million). In
    addition, the Company has entered into an agreement with Zhaoyuan
    County Government relating to a long term loan of up to 100 million
    RMB ($18.9 million) to assist with financing its expansion.

Mr. Zhiping Wang, President and CEO of Asia Bio-Chem stated; "Our Company has achieved some considerable milestones during 2008. Against the backdrop of the most challenging capital markets, we achieved a successful financing and public listing. While much of our industry was forced to retrench, we executed on our growth strategy through the purchase and construction of the Daqing plant which will triple our production capacity. And lastly, while faced with challenging commodity price environment, we maintained over 20% gross margins while maintaining profitability and growing revenues."

Growth in both production volumes and product pricing contributed to an increase in revenues during fiscal 2008 compared with the previous year. During fiscal 2008, revenues grew 11.3% to $84.5 million.

Gross profit increased to $18.5 million during the fiscal year representing a 0.6% increase over fiscal 2007 primarily due to the depreciation of Canadian dollar against Chinese RMB. Gross margin as a percentage of sales was 21.9% during 2008 compared with 24.2% in fiscal 2007. The reduction in gross margin as a percentage of sales was primarily due to higher corn costs in 2008.

SUMMARY FINANCIAL STATEMENTS

in thousands of Canadian dollars except
 per share and percentage data           Twelve Months Ended December 31,
                                        ---------------------------------
                                               2008            2007
                                        ----------------- ---------------
Sales                                        $    84,449     $    75,898
Gross profit                                      18,486          18,381
Gross margin (% of Sales)                          21.9%           24.2%
Operating expenses                              (x)7,473           2,375
Income from operations                            11,013          16,007
Other income (expense)                         (xxx)(393)      (xx)2,847
Income taxes                                       1,896             627
Net income                                         8,723          18,227
EBITDA                                            11,691          19,498
EBITDA before stock-based compensation            14,361          19,498
Earnings per share
  Basic and diluted                                 0.14            0.49
Weighted average number of shares
  Basic and diluted                           61,177,213      37,540,000


Balance Sheet Highlights                  As at 12/31/08  As at 12/31/07

Cash                                              10,489           6,655
Working Capital                                    5,154           4,234
Total assets                                     113,144          33,811
Current Ratio                                     1.28:1          1.24:1

(x)    Includes a $2.67 million non-cash charge for stock-based
       compensation expense in 2008.
(xx)   Includes $1.2 million gain on disposal of equipment and
       $1.6 million gain on foreign exchange arising largely due to
       conversion of a Hong Kong dollar denominated shareholder loan
       which was converted to equity in the second quarter of 2007.
(xxx)  Includes a foreign exchange loss of $0.5 million.

Excluding the (non-cash) stock-based compensation expense, income from operations during 2008 was $13.7 million. This compares with income from operations of $16 million during fiscal 2007. This decline is primarily due to additional expenses associated with achieving and maintaining its status as a public company.

The Company's operating subsidiary, Changtu Bio began paying tax at 12.5% which represents 50% of the Chinese corporate tax rate starting at January 1, 2008. Consequently, the Company's tax expense during the year was $1.9 million compared with approximately $0.6 million during the same period in 2007.

Net income during the year was $8.7 million compared with $18.2 million in 2007. This decline in net income was due to the above mentioned increase in operating expenses, higher taxes and the lack of one-time gains experienced in 2007.

Year 2008 EBITDA excluding stock-based compensation was $14.4 million compared with $19.5 million in 2007. The decline of $5.1 million was the result of the aforementioned public company expenses incurred in 2008 as well as the lack of gain on disposal of equipment and foreign exchange gain experienced in 2007.

Cash and cash equivalents totaled $10.5 million as of December 31, 2008, representing an increase of $3.8 million compared with the balance as of December 31, 2007. This increase was a result of $15.7 million cash flows generated by operating activities, $27.2 million by financing activities of private placement, offset by $17.3 million used in the acquisition of Daqing and $23.9 million used for plant construction, equipment purchases and deposits. A further increase of $2.1 million represents the changes in exchange rates on cash.

As at December 31, 2008 working capital was $5.2 million and the Company had no bank debt and a shareholders equity base of $83 million.

Daqing Project

On September 25th, 2008, the Company announced that it had closed the acquisition of Daqing Biochemical Company Ltd. ("Daqing"). Daqing owns a partially completed, 600,000 tonne corn processing plant in Zhaoyuan County of Heilongjiang Province in China. The purchase price of Daqing was approximately RMB 160 million (approximately $24.7 million) of which 70% has been paid in cash at closing and 30% is in the form of an unsecured note ("Note"). The Note is non-interest bearing and due, in full, 6 months after completion of construction of the plant.

The Daqing plant construction is well underway with approximately $63 million of construction in progress incurred as of December 31, 2008. The remaining capital required to complete the project and current obligations associated with the project are expected to be financed with a combination of cash, cash flow from operations, bank and government financing.

Debt Financing

Changtu Bio has entered into a loan agreement with China Construction Bank for a RMB 35 million ($6.6 million) short term, working capital loan. The interest rate on this loan will be 110% of the Peoples Central Bank Rate. The loan agreement provides that the company is restricted from pledging certain of its current assets.

In addition, the Company has entered into an agreement with Zhaoyuan County Government whereby a long term loan will be made available to the Company's wholly owned subsidiary, Daqing Bio in the amount of up to a maximum of RMB 100 million ($18.9 million). This loan is intended to assist the Company with financing its expansion activities in Daqing and will be made available in separate drawdowns. The loan will have a term of 5 years from the date of drawdown and bear interest at 1% per annum payable in advance. Daqing Bio has provided a corporate guarantee to Daqing Industrial and Commercial Investment Company Limited ("DICICL") in connection with the loan from Zhaoyuan County Government to the Company.

Conference Call

Asia Bio-Chem will be hosting a conference call to discuss the annual
results at 9 am Tuesday, March 17, 2009. The details are as follows:

Dial in number:          1-800-731 5319 or 416-644-3420

Taped replay:            416-640-1917
                         Pass Code: 21300249 followed by the number sign
                         (available until March 31th, 2009)

About Asia Bio-Chem Group Corp.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (March 16, 2009 - 1:40 PM EDT)

[Press Release] Asia Bio-Chem Group Corp. Announces 2008 Annual Financial Results

16 Mar 2009 08:03:00 GMT

/THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN
OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED
STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER
THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR
TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM./

TSX Venture: ABC

TORONTO, March 16 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced its annual financial statements for the period ending December 31, 2008.

2008 Financial Results

Highlights

-   In June 2008, the Company completed a reverse takeover transaction as
    well as closed a private placement for gross proceeds of $30 million.
    This financing was one of the largest financing for a Chinese company
    in Canada and was one of the last achieved in the marketplace before
    the financial crisis took hold.

-   On September 25, 2008, the Company announced the closing of its
    acquisition of 100% interest in Daqing Biochemical Company Ltd.
    ("Daqing Bio") which owns a partially completed corn processing
    facility in Heilongjiang Province. Upon completion of this facility
    in 2009, the Company is expected to approximately triple its
    production capacity.

-   While faced with challenging market conditions in its industry during
    2008, the Company has remained profitable and achieved growth in
    revenues during fiscal 2008 compared with the previous year.

-   The Daqing plant construction is well underway with approximately $63
    million of construction in progress incurred as of December 31, 2008.
    The Company expects the Daqing Plant to be complete and in operation
    by the fourth quarter of 2009.

-   The Company's wholly owned subsidiary, Chang Tu Bio-Chem Technology
    Co. Ltd. ("Changtu Bio") has received a working capital loan from
    China Construction Bank for 35 million RMB ($6.6 million). In
    addition, the Company has entered into an agreement with Zhaoyuan
    County Government relating to a long term loan of up to 100 million
    RMB ($18.9 million) to assist with financing its expansion.

SUMMARY FINANCIAL STATEMENTS

in thousands of Canadian dollars except
 per share and percentage data           Twelve Months Ended December 31,
                                        ---------------------------------
                                               2008            2007
                                        ----------------- ---------------
Sales                                        $    84,449     $    75,898
Gross profit                                      18,486          18,381
Gross margin (% of Sales)                          21.9%           24.2%
Operating expenses                              (x)7,473           2,375
Income from operations                            11,013          16,007
Other income (expense)                         (xxx)(393)      (xx)2,847
Income taxes                                       1,896             627
Net income                                         8,723          18,227
EBITDA                                            11,691          19,498
EBITDA before stock-based compensation            14,361          19,498
Earnings per share
  Basic and diluted                                 0.17          455.67
Weighted average number of shares
  Basic and diluted                           51,853,442          40,000


Balance Sheet Highlights                  As at 12/31/08  As at 12/31/07

Cash                                              10,489           6,655
Working Capital                                    5,154           4,234
Total assets                                     113,144          33,811
Current Ratio                                     1.28:1          1.24:1

(x)    Includes a $2.67 million non-cash charge for stock-based
       compensation expense in 2008.
(xx)   Includes $1.2 million gain on disposal of equipment and
       $1.6 million gain on foreign exchange arising largely due to
       conversion of a Hong Kong dollar denominated shareholder loan
       which was converted to equity in the second quarter of 2007.
(xxx)  Includes a foreign exchange loss of $0.5 million.

As at December 31, 2008 working capital was $5.2 million and the Company had no bank debt and a shareholders equity base of $83 million.

Daqing Project

Debt Financing

Conference Call

Asia Bio-Chem will be hosting a conference call to discuss the annual
results at 9 am Tuesday, March 17, 2009. The details are as follows:

Dial in number:          1-800-731 5319 or 416-644-3420

Taped replay:            416-640-1917
                         Pass Code: 21300249 followed by the number sign
                         (available until March 31th, 2009)

About Asia Bio-Chem Group Corp.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (March 16, 2009 - 9:03 AM EDT)

[Press Release] Asia Bio-Chem Release of 2008 Annual Results and Conference Call

05 Mar 2009 09:23:00 GMT

TORONTO, March 5 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) today announced that it will release its 2008 annual results on March 16th, 2009 at approximately 9am eastern standard time. The Company will also hold a conference call to discuss its 2008 financial results. Mr. Zhiping Wang, President and C.E.O, Mr. Robert Wilson, Executive Vice President, and Ms. Elaine Zhao, Chief Financial Officer, will host the call.

Date:              Tuesday, March 17, 2009

Time:              9:00 a.m., Eastern Time

Dial in number:    1-800-731 5319 or 416-644-3420

Taped Replay:      416-640-1917 (available until March 31st, 2009)

Replay Pass Code:  21300249 followed by the number sign

About Asia Bio-Chem Group

THE TSX NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS NEWS
RELEASE.

Source: CNW (March 5, 2009 - 10:23 AM EST)

[Broadcast] Welcome to Chinasecurities

13 May 2009 13:05:11 GMT

[Press Release] Asia Bio-Chem Group Corp. Announces Third Quarter Financial Results

27 Nov 2008 06:00:00 GMT

/THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR
DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED
STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN
OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED
STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER
THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE
SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR
TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM./

TSX Venture: ABC

TORONTO, Nov. 27 /CNW/ - Asia Bio-Chem Group Corp. (TSXV: ABC) ("Asia Bio-Chem" or the "Company") today announced its interim financial statements for the period ending September 30, 2008.

Interim Financial Results

Highlights

-   Both revenues and gross profit increased during the third quarter and
    during the nine month period of fiscal 2008 compared to the
    corresponding periods in 2007.

-   Excluding the (non-cash) stock-based compensation expense, income
    from operations during the third quarter of 2008 was $3.3 million
    which was stable compared with $3.4 million income from operations
    for third quarter of 2007.

-   Excluding stock-based compensation and the foreign exchange gain/loss
    for all periods presented, EBITDA was $3.7 million for the third
    quarter of 2008, approximately equal to that of the corresponding
    quarter in 2007.

-   On September 25, 2008, the Company announced the closing of its
    acquisition of 100% interest in Daqing Biochemical Company Ltd.
    ("Daqing Bio") which owns a partially completed corn processing
    facility in Heilongjiang Province. Upon completion of this facility
    in 2009, the Company is expected to approximately triple its
    production capacity.

-   After paying for the Daqing Bio acquisition, the Company had
    $23.4 million in cash and no bank debt. Over the next six months,
    this cash is expected to be used to finance the completion of the
    Daqing Bio facility.

Asia Bio-Chem, today reported third quarter sales of $21.5 million representing a 22% improvement over the corresponding period of 2007. Improvements in by-product pricing and sales volumes contributed to this increase.

Gross margin increased to $4.4 million during the quarter representing a 12% increase over the same quarter of 2007 and gross margin as a percentage of sales remained above 20% during the third quarter.

"We continue to enjoy strong prices for our by-products and stable corn prices," stated Mr. Zhiping Wang, President and CEO of Asia Bio-Chem. "We are pleased to report that we have maintained our operating income and cash flow from operations during this quarter," Mr. Wang added.

During the third quarter, stock-based compensation expense of $1.2 million and higher general and administrative expenses associated with the Company's public company status caused income from operations to decline by 37% to $2.1 million compared with the third quarter of 2007.

SUMMARY FINANCIAL STATEMENTS
in thousands of
 Canadian dollars
 except shares, per
 share and percentage      3 Months    3 Months    9 Months    9 Months
 data                     to 9/30/08  to 9/30/07  to 9/30/08  to 9/30/07
                          ----------- ----------- ----------- -----------
Sales                         21,516      17,670      62,808      56,617
Gross profit                   4,438       3,966      14,373      13,483
Gross profit (% of Sales)      20.6%       22.4%       22.9%       23.8%
Operating expenses          (x)2,342         599    (x)4,590       1,683
Income from operations         2,095       3,367       9,782      11,801
Other income                     129   (xx)1,627        (295)  (xx)1,657
Income taxes                     278          49       1,480         203
Net income                     1,946       4,945       8,008      13,255
Comprehensive net income       2,897       3,326      11,782       8,074
EBITDA                         2,470       5,158      10,099      13,956
EBITDA before Stock-based
 compensation                  3,702       5,158      11,537      13,956
Earnings per share
  Basic and diluted            $0.03                   $0.18
Weighted average
 number of shares
  Basic and diluted       76,777,025      40,000  43,484,940      40,000


Balance Sheet Highlights
                                                     As at       As at
                                                    9/30/08    12/31/07
                                                  ----------- -----------

Cash                                                  23,436       6,655
Working Capital                                       30,034       4,234
Total assets                                          85,722      33,811
Current Ratio                                          5.3:1       1.2:1

(x)  Includes a $1.2 million non-cash charge for stock-based compensation
     expense ($1.4 million in 9 month numbers)
(xx) Includes $1.5 million gain on foreign exchange arising largely due
     to conversion of a Hong Kong dollar denominated shareholder loan
     which was converted to equity in the second quarter of 2007.

Stock-based compensation expense ($1.2 million), the lack of foreign exchange gain ($1.5 million) and the higher level of taxes ($0.2 million) were the major factors which caused net income to decline to $1.9 million during the third quarter of 2008 compared with $4.9 million experienced during the same period in 2007.

Asia Bio-Chem's operating subsidiary, Chang Tu Bio-Chem Technology Co. Ltd. began paying tax at 50% of the Chinese corporate tax rate (12.5%) as of January 1, 2008. Consequently, the Company's tax expense during the third quarter was $277,685 compared with approximately $49,046 during the same period in 2007.

On September 25th, 2008, the Company announced that it has closed the acquisition of Daqing Biochemical Company Ltd. ("Daqing"). Daqing owns a partially completed, 600,000 tonne corn processing plant in Zhaoyuan County of Heilongjiang Province in China. The purchase price of Daqing was approximately RMB 160 million (approximately C$24.7 million) of which 70% has been paid in cash at closing and 30% is in the form of an unsecured note ("Note"). The Note is non-interest bearing and due, in full, 6 months after completion of construction of the plant.

After payment of approximately 112 million RMB (approximately $17 million) for the Daqing acquisition, and after investing an additional $5.9 million in construction deposits, the Company had a remaining cash position of $23.4 million as of September 30, 2008.

Working capital as at September 30, 2008 was $30.0 million and the Company had no bank debt and a shareholders equity base of $69.5 million.

Conference Call

Asia Bio-Chem will be hosting a conference call to discuss the third quarter results at 9 am Friday, November 28, 2008. The details are as follows:

Dial in number:    1-800-732-9307 or 416-644-3421

Taped replay:      416-640-1917 Pass Code: 21288967 followed by the
                   number sign
                   (available until December 12th, 2008)

About Asia Bio-Chem Group Corp.

THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THE CONTENT OF THIS NEWS
RELEASE.

Source: CNW (November 27, 2008 - 7:00 AM EST)