Genesis Technology Group, Inc. (OTCBB:GTEC) has entered into a reverse merger with a company that owns and controls Laiyang Jiangbo Pharmaceuticals Co., Ltd. ("LJPC"), a Chinese pharmaceutical company, located in a coastal city in Shandong Province.

For its fiscal year ended June 30, 2007, LJPC reported total revenue of US$76,000,000 and a net income of US$22,000,000. Its revenues grew by an average of 187% over the previous two years, and net income rose by an average of 748% over the same period, based on research by a U.S. consulting firm and merchant bank, which inspected the LJPC facilities in Laiyang City in early September.

Following the merger, The merged company shall be known as Genesis Pharmaceutical Enterprises, Inc., which will be under the management of LJPC team headed by its chairman and CEO Mr. Wubo Cao.