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Ø Expansion into Hog Breeding Business with 2,500 Sq.
Meter Farm.
China
Xiangtai Food Co., Ltd (NASDAQ: PLIN) is a food company primarily engaged in quality pork processing. PLIN
operations span key sections of the pork processing value chain, including
slaughtering, packing, distribution as well as wholesale marketing for a
variety of fresh pork meat and parts.
Primarily focused on pork
products, PLIN also offers other fresh and processed products, including
beef, lamb and poultries. Through the recent acquisition of Chongqing Ji Mao
Cang Feed Co., Ltd, PLIN has also expanded into the business of feed raw
material and feed formula solutions. Through its core values, PLIN 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.
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On August 16th PLIN
announced the upcoming launch of a hot pot franchise business and plans to
open its first location in Chongqing by August 31, 2020. The launch will allow PLIN
to integrate its existing industry resources and leverage its strength to
provide consumers with a farm-to-table experience.
PLIN plans to expand the hot pot chain by applying a
franchise model and increase the number of restaurants to 200 by the end of
2021. All restaurants will be operated under the PLIN brand
"Xiangtai Fresh Beef Hot Pot". PLIN plans to recruit a team of
seasoned restaurateurs with more than 20 years of professional experience to
manage and operate the franchise chain.
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On August 3rd PLIN
proudly announced that the company was awarded the First Class Award of 2020
Excellent Chongqing International Food Enterprise Recommendation by Preferred
Merchant (www.shouxuan18.cn), an enterprise information integration and
marketing platform that ranks enterprises in different industries and conducts
strict field investigations and real-time monitoring of enterprises.
This significant award for PLIN
aims to build a quality international food market, to lead the development of
the international food industry, to enhance competitive advantages of
international food companies, to cultivate a good market environment, to set up
industry standards, and to promote a sustainable, steady and vigorous
development of the Chinese international food industry. Also, the award
provides consumers with authoritative guidance and assistance, resulting in
more rational consumption choices and saving time and energy for consumers.
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On July 22nd PLIN
announced that through its primary operating subsidiary Chongqing Peng Lin Food
Co. Ltd., the company has entered into a lease agreement to expand hog breeding
business in Guangxi Province. Pursuant to the agreement, PLIN will rent
a 2,500-square-meter hog breeding farm with four hog breeding houses in Guangxi
for five years until May 7, 2025.
By combining the capacity of
the farm and business experience. PLIN will be able to have better
control of the supply chain and company to continue building its competitive
advantages in the market. This farm can further optimize the deployment of PLIN
production capacity while also increasing the quality of company offerings at
fair and stable prices since PLIN will be able to control the supply end
of its products. PLIN management believes this move will further enhance
the company's profitability and realize its commitment to increase long-term
shareholder value.
For more information on
China Xiangtai Food Co. (PLIN) visit:
http://www.ir.plinfood.com/
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