Shenzhou Biology & Technology Co., Ltd. announced that it will increase its price of Coenzyme Q10 (CoQ10 as ubiquinone) by 10 percent as of May 5. Shenzhou Bio sites escalating costs of pollution control, growing market demand, currency exchange and others as causes for the price increase.
"Although Shenzhou Bio regrets any increase in price to its customers, mounting stressors on margin and supply have necessitated that we follow the market up," said Wang Quingjun, general manager of Shenzhou Bio. "If we are going on to sell CoQ10 at the current price, Shenzhou Bio may drop the product of CoQ10 since we cannot sustain the current price model to earn reasonable profit."
Shenzhou Bio is a subsidiary of CASC, headquartered in Beijing.