​Yinhang Internet Technologies Development Inc. (OTC Pink: YITD) ("YITD" or the "Company") is pleased to announce that on June 19, 2018, a custodian was appointed to oversee YITD and the Company was reinstated with the Nevada Secretary of State. M-Dragon Industrial (Hong Kong) Ltd., https://www.m-dragon-intl.com/enghome, then became the majority shareholders of the Company.
The business purpose of the Yinhang Internet Technologies Development Inc. is to seek investments in existing companies. On Sept. 20, 2018, M-Dragon Industrial Ltd. acquired 70 percent of Fu Wah Medicine Co. Ltd., http://hkfuwah.com/en/, and M-Dragon Industrial Ltd. became the controlling shareholder. Fu Wah Medicine Co. Ltd. is a growth and investment company.
Mr. Alexander Shiu Yin Mak as was appointed as the Company's President, CEO and Director. Mr. Lee Tat Hung was appointed Treasurer and Chairman.
Both Mr. Mak and Mr. Lee have over 15 years of experience in business and financial industries and have held positions as officers and directors for several companies. Mr. Mak and Mr. Lee's experience are in line with YITD's business model for future business endeavors.
About Yinhang Internet Technologies Development Inc.
YITD is a diversified investment corporation. The Company is actively seeking a select portfolio of strategic investments, which are based on market trends and their ability to deliver strong returns to shareholders while enhancing the communities in which the investments are located.
About M-Dragon Industrial Limited
M-Dragon Industrial Limited, https://www.m-dragon-intl.com/enghome, is an investment company investing in target companies long term. Their headquarters is located in Hong Kong. Mr. Mak is the CEO and Director of M-Dragon Industrial Ltd. and Mr. Lee acts as the company's Chairman and Treasurer.
Fu Wah Medicine Co. Limited
Fu Wah Medicine Co. Ltd., ("Fu Wah"), http://hkfuwah.com/en/, is an established enterprise in Hong Kong, founded in 1950. Fu Wah is a wholesaler and retailer of generic and innovative medicines, health products, medical equipment, traditional Chinese patented medicine and dietary supplements. It has a worldwide distribution network with agents in both Malaysia and Hong Kong, while also being represented in many other countries such as Singapore, Vietnam, Malaysia, Sweden, Australia, South America and the United States.
Forward-Looking Information:
Cautionary Note:
The statements in this press release constitute forward-looking statements within the meaning of federal securities laws. Such statements are based on our current beliefs and expectations and are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control. In addition, such forward-looking statements are subject to assumptions with respect to future business strategies and decisions that are subject to change. Potential risks and uncertainties include, but are not limited to, technical advances in the industry, as well as political and economic conditions present within the industry. We do not take any obligation to update any forward-looking statement to reflect events or developments after a forward-looking statement was made.
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Original Source: Yinghang Internet Technologies Development Inc. Appoints New Officers and Directors
