Qilian International plans to adjust industrial investment

JIUQUAN, China, May 17, 2024 /PRNewswire/ -- Qilian International Holdings Group Limited (NASDAQ: QLI) ("Qilian" or the "Company"), a pharmaceutical and chemical products manufacturer headquartered in China, today announced: In the past two years, Qilian International Holdings Group Limited has encountered significant challenges stemming from the continuous shrinkage in market demand for its oxytetracycline products, coupled with a persistent decline in market prices and escalating environmental protection standards. These factors have collectively led to a substantial increase in the production and operational costs for Qilian International, consequently impairing the profitability of the oxytetracycline industry. In response to these challenges and in an effort to optimize resource allocation and enhance the company's overall efficiency, Qilian International is planning to reorient its industrial strategy in accordance with the prevailing market conditions and its long-term development objectives.

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