Lotus Bio-Technology Development Corp (OTCMKTS:LBTD) has announced last May that it has struck an exclusive deal with Hunan Cangshi Biological Technology Co. Ltd., a developer, producer, and proprietor of various organic-based consumer-related products, as part of the company’s efforts to boost sales and sustain its position in the industry.
Why Hunan Cangshi Biological Technology
Michael Palethorpe, Lotus Bio-Technology Development President, noted that the newly-formed alliance with Hunan Cangshi Biological Technology will provide further growth opportunities for the company as both of them are driven by the same mission. He added that the established presence of Hunan Cangshi Biological Technology in the industry will allow the company to materialize its growth prospects, particularly revitalizing its international market. It is a known leader when it comes to sustainable products that are of the best quality and reasonable price.
With the partnership, Lotus Bio-Technology Development is hoping to produce more sustainable products as the global market becomes more open to environmental-friendly consumer goods.
Agreement with Hunan Cangshi Biological Technology
The terms of the agreement specify that both companies are bound to jointly promote the entire product and service lines of Hunan Cangshi Biological Technology. Primarily, Lotus Bio-Technology Development will be responsible for the the marketing strategy with its extensive marketing resources. Meanwhile, the other party will be responsible for the development, production, and provision of all the products and services under the terms of the agreement to boost the Chinese market for sustainable organic-based products. More importantly, to maximize the tie-up, Hunan Cangshi Biological Technology aims to develop more organic products with the help and resources of Lotus Bio-Technology Development.
Lotus Bio-Technology Development in China
The company has long been working on its growth in China, Asia’s biggest economy. Strategic collaborations with numerous biological companies and distributors have been on the forefront of its efforts. Some of Lotus Bio-Technology Development’s collaborators in China include Changsha Huakang Biotechnology Development Co. Ltd., which develops plant extracts, Phyto Nutraceutical, Inc., which develops, manufactures, supplies, and exports plant extracts, Shanghai Ninth People’s Hospital, and Shanghai Putuo People’s Hospital.
As part of this hopeful success in China, the company has also opened its new corporate headquarters (HQ) in Yong Zhou City earlier this year.
New CEO and President
Last May, Lotus Bio-Technology Development has also named Michael Palethorpe as the new CEO and President.
Palethorpe’s excellent track record highlighting his corporate expertise and diverse leadership background qualified him for the coveted post. With his trusted experience in corporate management for about 30 years, Palethorpe is expected to lead the company toward further growth, materializing its long-term prospects through meaningful strategic plans.
Palethorpe is known for launching the biggest mountain bike website in the world, which had more than 20,000 daily unique visits in the early 2000s. He also led a private marketing company for six years and spent a three-year stint as the CEO and President of New Media Insight Group.
Aside from natural consumer-related products, Lotus Bio-Technology Development is also involved in the distribution of motion pictures produced by independent studios such as Paramount Pictures Corporation, Sony Pictures Entertainment, Inc., Twenty-First Century Fox, Inc. (NASDAQ:FOXA), Universal Studios, Inc., Warner Bros. Entertainment, Inc., and Walt Disney Co (NYSE:DIS).