FUZHOU, China, Sept. 29, 2020 /PRNewswire/ -- Pingtan
Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan," or the
"Company"), a global fishing company based in
the People's Republic of China
(PRC), announced today that the Argentina squid catches from 15 squid jigging
vessels that the Company deployed in the fishing grounds located in
the waters of the Southwest Atlantic Ocean have been transported
back to Mawei Port in Fuzhou of
China via refrigerated transport
vessel.
The transport vessel loaded with the catches entered the Chinese
territorial waters in late August
2020 and started unloading early this morning. The total
landing catches of Argentina squid
is over 5100 tons, valuing over USD$20
million based on current market price of about $4 per kg. The catches will be unloaded and
delivered to the Company's warehouse in about a week.
Management Commentary
Mr. Xinrong Zhuo, Chairman and
CEO of the Company, commented: "Argentina squid is one of our key products for
the second half of the year and we will complete the unloading and
warehouse-in procedures during the China's Mid-Autumn Festival and National Day
holidays. Compared to other varieties of squid, Argentina squid better meets the taste of the
Chinese people and its market price is relatively higher. We
believe the sale of this product will have a positive impact on our
operating results for the upcoming quarter."
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 contains forward-looking statements that are
subject to the safe harbors created under the Securities Act of
1933 and the Securities Exchange Act of 1934, as amended. Words
such as "estimate," "project," "forecast," "plan," "believe,"
"may," "expect," "anticipate," "intend," "planned," "potential,"
"can," "expectation" and similar expressions, or the negative of
those expressions, may identify forward-looking statements.
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, including general economic and market conditions 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, except as required by
law.
CONTACT:
LiMing Yung (Michael)
Chief Financial Officer
Pingtan Marine Enterprise Ltd.
Tel: +86 591 87271753
michaelyung@ptmarine.net
Maggie Li
Investor Relations Manager
Pingtan Marine Enterprise Ltd.
Tel: +86 591 8727 1753
mli@ptmarine.net
INVESTOR RELATIONS
PureRock Communications Limited
PTmarine@pure-rock.com
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SOURCE Pingtan Marine Enterprise Ltd.