A Chinese pharmaceutical company seeking market listing is under fire for extracting bear bile to make medicines, a practice considered to be cruel by animal welfare groups.

The practice by Guizhentang Pharmaceutical Co. Ltd., based in the eastern Fujian Province, was exposed by a microblogger, who called for a boycott of the company's listing.

"Fujian's Guizhentang is raising capital, which is to be used in two projects to produce 4,000 kg of bear bile powder a year and to breed 1,200 caged black bears a year," wrote Yu Jichun, producer of environment conservation documentaries at Yunnan Satellite TV, in the post.

"The provincial authorities have approved the listing plan. If it is listed, then this year will spell doom for moon bears. I hope more people can boycott bear bile products," Yu said.

Media reports have said the company hopes to be listed on the Growth Enterprise Market on the Shenzhen Stock Exchange, and it is raising 70 million yuan (10.6 million dollars) for the listing, but the company and local securities regulator have declined to confirm the reports.

Thousands of microbloggers and netizens have responded to Yu's message, expressing support for Yu and indignation at Guizhentang's plans.

"I condemn the maltreatment of creatures and oppose bear bile products. Shame on Guizhentang," said a post by "Zha Li."

"I strongly object to the extraction of bear bile! I cannot imagine the torture and horror of those poor bears every day. I cannot understand why those wicked merchants treat those creatures so cruelly. Don't they have nightmares?" wrote "Zhangyichi2001."

Staff and executives at Guizhentang, based in Hui'an County, declined Xinhua's request for interviews, saying they could not answer questions during the company's "key moment" of being listed.

They also refused to allow Xinhua to visit its bear breeding base and workshops.

According to the firm's official website, Guizhentang was founded in 2000 with bear bile products as its main business. It also boasts the largest black bear breeding base in south China with some 400 animals.

In its listing preparations, the company applied for environment protection verification from Fujian Provincial Department of Environment Protection in June last year, and was approved -- a fact mentioned by microblogger Yu Jichun in his post.