FUZHOU, China, July 27, 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 that the Company has entered into a strategic cooperation
framework agreement (the "Agreement") with JD.com, China's largest retailer.
Pursuant to the Agreement, JD will become the exclusive online
retailer for Pingtan to sell its fishing products, and the Company
will serve as JD's sole supplier for ribbonfish, tiger prawn and
conger eel products harvested from the Arafura Sea, the Bay of
Bengal and the Indo-Pacific Waters. JD and Pingtan will work
together on the continuous innovation of the online seafood retail
business model to achieve enhanced marketing and continued
growth.
Mr. Xinrong Zhuo, Chairman and
CEO of the Company, commented, "We are excited to partner with
China's e-commerce giant JD, and
become its exclusive sole supplier of categories of fishing
products which are also Pingtan's major harvest from our fishing
territories. We believe the strategic cooperation with JD will
establish a great step forward in our development into the food
consumer market. JD's vast online retail channel will enable us to
distribute our products in a more expedited and inexpensive manner,
which further drives the Company's rapid expansion in online food
ordering, enhances the influence of the Company and our products
and builds up the brand awareness of Pingtan. We look forward
to working with JD.com closely to further explore the online
seafood retail business model and provide healthy deep ocean
seafood products to consumers across China."
About JD.com, Inc.
JD.com is both the largest e-commerce company
in China, and the largest Chinese retailer, by revenue.
The company strives to offer consumers the best online shopping
experience. Through its user-friendly website, native mobile apps,
and WeChat and Mobile QQ entry points, JD offers consumers a
superior shopping experience. The company has the largest
fulfillment infrastructure of any e-commerce company in China.
As of March 31, 2017, JD.com operated 7 fulfillment
centers and 263 warehouses covering 2,672 counties and districts
across China, staffed by its own
employees. JD.com is a member of the NASDAQ100 and a
Fortune Global 500 company.
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
strategic cooperation with JD. 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
the ability to successfully market, sell and distribute our
products on JD's e-commerce platform, including unanticipated
delivery issues; 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.