DEAR FELLOW SHAREHOLDERS: 
- With the arrival of the Chinese New Year, I would like to take this opportunity to express my appreciation to all shareholders for the trust and support offered to Yew Bio-Pharm and myself. With all the hard work and determination from employees and management, we achieved solid revenue growth for each of our business segments over the past three years.
- 2014 was a milestone year for Yew Bio-Pharm as we established a new subsidiary, Harbin Yew Food Co. LTD., to develop and research series of health products of black fungus. The move marks the Company’s entrance into the organic food and functional beverage market and it has been recognized by the industry. We are also making progress financially, with total revenue up nearly 7% to $5.83 million for the first nine months of 2014, compared with the same period last year.
To summarize our results for the 2014 third-quarter:
- Total revenues for the third quarter of 2014 rose 10% to $1.70 million from $1.54 million a year ago.
- Sale of TCM raw materials was $1.16 million; sale of yew trees was $0.51 million; and sale of handicrafts was $0.025 million;
- Net income was $0.90 million, or $0.02 per diluted share, compared with $0.77 million, or $0.01 per diluted share, in 2013 third quarter
|
Three Months Ended September 30, |
Nine Months Ended September 30, |
|||
| Revenues: |
2014 |
2013 |
2014 |
2013 |
| TCM Raw Materials |
$1,161,838 |
$1,005,323 |
$3,356,622 |
$3,171,814 |
| Yew Trees |
$514,130 |
$448,810 |
$2,350,874 |
$2,102,417 |
|
Handicrafts
|
$24,956 |
$90,194 |
$126,972 |
$175,402 |
| Total Revenues |
$1,700,924 |
$1,544,327 |
$5,832,468 |
$5,449,633 |
Looking ahead to the New Year, I am both excited about our growth strategy and confident about our ability to achieve further success. Opportunities and challenges, the glory and the dream coexistence. With excellent corporate culture, through the implementation of a diversified, international development strategy, we will usher in a more brilliant tomorrow!
Sincerely,
Zhiguo Wang
Chairman & Chief Executive Officer