WUHAN CITY, China, Dec. 3,
2015 /PRNewswire/ -- Aoxin Tianli Group, Inc. (NASDAQ:ABAC)
("Aoxin Tianli" or the "Company"), a company focused on hog farming
in China, today announced that it
has entered into a strategic cooperation framework agreement (the
"Framework Agreement") with Beijing Huinongfeng Biological
Technology Co., Ltd. ("Huinongfeng"), a Beijing-based production-to-consumer ("P2C")
e-commerce company, for the construction of a new pork production
facility and a food processing plant and the sale of the Company's
pork products through Huinongfeng's online portal www.inongfeng.com
.
The Framework Agreement contemplates that the Company and
Huinongfeng will jointly acquire real property and establish a pork
production facility and a food processing plant in the Huangpi
District of Wuhan City, subject to
approval of the relevant authorities. The parties anticipate
obtaining the requisite approvals by the end of 2015, and acquiring
the real property by the end of the first quarter of 2016, with
construction to commence in early May, 2016. The parties expect to
commence operations at the new facility in October 2016 at which time they will begin to
distribute the Company's Xiduhei-branded black hog meat products
direct to consumers via Huinongfeng's online portal and overnight
delivery services.
Mrs. Hanying Li, Chairwoman and
Chief Executive Officer of Aoxin Tian Group, Inc., commented, "We
are excited about the prospects of working with Huinongfeng to
jointly build a new pork processing plant and develop a P2C
e-commerce platform for the sale of our branded black hog pork
products. As we refocus our business on hog farming and related
businesses such as pork processing and wholesale/retail
distribution, we believe that this new cooperation initiative with
Huinongfeng will allow us to extract greater value from our assets
once fully launched."
About Beijing Huinongfeng Biological Technology Co.,
Ltd.
Established in April 2015 with
registered capital of RMB 50 million,
Beijing Huinongfeng Biological Technology Co., Ltd. operates as a
business-to-consumer e-commerce company in the People's Republic of China. Through its
online portal, www.inongfeng.com, it primarily sells natural and/or
organic food products such as coffee, tea, dairy, and meat.
About Aoxin Tianli Group, Inc.
Aoxin Tianli Group, Inc. (the "Company"), previously known as
Tianli Agritech, Inc., is currently a diversified company with
businesses in hog farming, manufacturing and marketing of
electro-hydraulic servo-valves, and the development of optical
fiber hardware and software solutions. Aoxin Tianli is in the
process of disposing of its assets unrelated to hog farming and
refocusing on its hog farming business and related
activities. Through its wholly owned subsidiary, Wuhan Fengze
Agricultural Science and Technology Development Co., Ltd., the
Company engages in the breeding, raising and selling of breeder and
market hogs in China and is
developing a retail channel for its pork products including
high-value, black hog meat.
Forward-Looking Statements
This news release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulations, and other risks contained in reports filed by the
company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by
this cautionary statement and any other cautionary statements which
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
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SOURCE Aoxin Tianli Group, Inc.