China Marine Food Group Limited, maker of marine based foods and beverages, reported today that its Chairman and CEO, Mr. Pengfei Liu, has purchased a total of 245,500 shares of the company’s stock from the open market. The purchase increases Mr. Liu’s ownership in the company from 41.4% to 42.3%.
Mr. Liu, the founder of the company, has spearheaded the expansion and growth of the China Marine since its beginning in 1994 as a seafood processor and distributor. He is currently responsible for operations, marketing, public relations, strategic planning, and the development of new products. Prior to founding the company, Mr. Liu was a seafood trader.
Commenting on his purchase, Mr. Liu explained, “I am very confident in the long-term growth of our Company and firmly believe that our Company’s shares are always an excellent investment. I am confident that equity markets in the US will improve over time while our business will also grow at a very fast rate this year and next. We have forecasted revenues from our seafood snack food business will increase more than 30% in 2010. The organic growth of our snack food segment will be accompanied by meaningful revenues and earnings contributions from our algae-based beverage, ‘Hi-Power’. In the first couple of weeks of July, we have been informed that the pace of our distributors re-orders has continued into the third quarter. Our CFO and I have made a commitment to update our investors on a regular basis and look forward to detailing our upcoming orders for our beverage segment and the expansion of our distributor network in the near future.”
Located in the Fujian province on the southeast coast of China, China Marine has grown from initially just exporting processed frozen seafood to select markets in northeast Asia, particularly Korea and Japan, to increasingly supplying domestic demand for dried and processed seafood products and marine catch. China Marine has now positioned its Mingxiang® brand as a category leader in 1,900 retail sales points in China. The company is committed to the highest standard of quality control, with ISO9001, ISO14001, and HACCP certification, and EU export registration.
For more information, see the company website at www.china-marine.cn.
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