CHONGQING, China, Sept. 16, 2020 /PRNewswire/ -- China Xiangtai
Food Co., Ltd. (NASDAQ: PLIN) ("PLIN" or the "Company"), an
emerging growth company engaged in the food processing business,
today announced that its controlled subsidiary Chongqing Ji Mao
Cang Feed Co., Ltd. ("JMC") completed RMB 49
million (approximately $7.2
million) in sales of soybean meal over three months, after
purchasing an aggregate of approximately 18,000 tons of supply from
China Grain Reserve Corporation's ("Sinograin") Zhenjiang Branch Office.
Ms. Zeshu Dai, Chairwoman and Chief Executive Officer of the
Company commented, "We are pleased to generate these sales from the
soybean meal and expect to continue expanding the scale of this
business. As Sinograin' long-term business partner, we have proved
our capability and stability from past sales performance. Looking
ahead, we will continue to leverage JMC's expertise in animal feed
raw material and formula solutions and PLIN's commercial strength
to expand into the southwest China
market and create value for our shareholders."
About China Xiangtai Food Co., Ltd
Headquartered in Chongqing, China, China Xiangtai Food Co., Ltd, is a food
company primarily engaged in pork processing. The Company's
operations span key sections of the pork processing value chain,
including slaughtering, packing, distribution, and wholesale of a
variety of fresh pork meat and parts. Primarily focused on pork
products, the Company also offers other fresh and processed
products, including beef, lamb and poultries. Through the recent
acquisition of Chongqing Ji Mao Cang Feed Co., Ltd, the Company has
also expanded into the business of feed raw material and feed
formula solutions. Through its core values, the Company is
committed to maintaining the highest standards of food safety,
product quality, and sustainability to provide high-quality,
nutritious, and tasty food in a responsible manner through its
portfolio of trusted brands. For more information, please
visit http://ir.plinfood.com/.
Safe Harbor Statement
This announcement contains forward-looking statements within
the meaning of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All statements other than statements
of historical fact in this announcement are forward-looking
statements. These forward-looking statements involve known and
unknown risks and uncertainties and are based on current
expectations and projections about future events and financial
trends that the Company believes may affect its financial
condition, results of operations, business strategy and financial
needs. Investors can identify these forward-looking statements by
words or phrases such as "may," "will," "expect," "anticipate,"
"aim," "estimate," "intend," "plan," "believe," "potential,"
"continue," "is/are likely to" or other similar expressions. The
Company undertakes no obligation to update forward-looking
statements to reflect subsequent occurring events or circumstances,
or changes in its expectations, except as may be required by law.
Although the Company believes that the expectations expressed in
these forward-looking statements are reasonable, it cannot assure
you that such expectations will turn out to be correct, and the
Company cautions investors that actual results may differ
materially from the anticipated results.
Company Contact
Mr. Xiaohui Wu, President
China Xiangtai Food Co., Ltd.
Phone: +86-1860-117-0697
Email: ir@plinfood.com
Investor Relations Contact
Ms. Tina Xiao, President
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
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SOURCE China Xiangtai Food Co., Ltd.