FUZHOU, China, July 17, 2017 /PRNewswire/ -- Pingtan
Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan," or the
"Company") a global fishing company based in the People's Republic of China (PRC), today
announced preliminary financial results for the second quarter
ended June 30, 2017. The Company
expects to report earnings per ordinary share between $0.08 and $0.10 during the period. Pingtan
currently owns/controls 140 vessels with 36 currently operating, 12
of which are in the Bay of Bengal in India, 13 in Indo-Pacific Waters, and 11 in international
waters.
Mr. Xinrong Zhuo, Chairman and
CEO of the Company, commented, "We are very pleased with the
increased number of operating vessels deployed during the past
twelve months and the increase in the sales volume of various catch
species. We benefitted from having a considerable portion of our
revenue from the sales of these fish products, which not only led
to a favorable bottom line, but also is a strong indicator of both
continued demand in China and
continuity of our deliveries. We are confident Pingtan will
continue to deliver favorable financial performance and operating
results."
About Pingtan
Pingtan is a global fishing company engaging in ocean fishing
through its subsidiary, Fujian Provincial Pingtan County Ocean
Fishing Group Co., Ltd., or Pingtan Fishing.
Business Risks and Forward-Looking Statements
This press release may contain forward-looking statements that
are subject to the safe harbors created under the Securities Act of
1933 and the Securities Exchange Act of 1934. These statements can
be identified by the use of forward-looking terminology such as
"believe," "expect," "may," "will," "should," "project," "plan,"
"seek," "intend," or "anticipate" or the negative thereof or
comparable terminology and include statements about the Company's
preliminary financial results and sales expectations. Although
forward-looking statements reflect the good faith judgment of our
management, such statements can only be based on facts and factors
currently known by us. Consequently, forward-looking statements are
inherently subject to risks and uncertainties and actual results
and outcomes may differ materially from the results and outcomes
discussed in or anticipated by the forward-looking
statements. Risks include that the preliminary financial
results are unaudited, have not been reviewed by external auditors
and are subject to completion and, as such, may be revised as a
result of management's further review; that there can be no
assurance that the Company's final results for the period will not
differ from these estimates; that any changes could be
material; the Company may identify items that may require it
to make material adjustments to the preliminary financial
information; other developments that may arise between now and the
time the financial results are finalize; .anticipated growth and
growth strategies; need for additional capital and the availability
of financing; our ability to successfully manage
relationships with customers, distributors and other important
relationships; technological changes;
competition; demand for our products and service the
deterioration of general economic conditions, whether
internationally, nationally or in the local markets in which we
operate; legislative or regulatory changes that may adversely
affect our business; operational, mechanical, climatic or
other unanticipated issues that adversely affect the production
capacity of the Company's fishing vessels and their ability to
generate expected annual revenue and net income, and other risk
factors contained in Pingtan's SEC filings available
at www.sec.gov, including Pingtan's most recent Annual Report
on Form 10-K and Quarterly Reports on Form 10-Q. Readers are
cautioned not to place undue reliance on any forward-looking
statements, which speak only as of the date on which they are made.
Pingtan undertakes no obligation to update or revise any
forward-looking statements for any reason.
COMPANY CONTACT:
Roy Yu
Chief Financial Officer
Pingtan Marine Enterprise Ltd.
Tel: +86 591 8727 1753
ryu@ptmarine.net
Johnny Zhang
IR Manager
Pingtan Marine Enterprise Ltd.
Tel: +86 591 8727 1753
jzhang@ptmarine.net
Maggie Li
IR Deputy Manager
Pingtan Marine Enterprise Ltd.
Tel: +86 591 8727 1753
mli@ptmarine.net
INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Katherine Yao, Senior Associate
Tel: +86 10 6587 6435
kyao@equityny.com
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SOURCE Pingtan Marine Enterprise Ltd.