Business
China Xiangtai Food Co., Ltd. Completes Approximately US$7.2 Million Sales of 18,000 tons of Soybean Meal
CHONGQING, China, Sept. 16, 2020 /PRNewswire/ -- China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) ("PLIN" or the "Company"), an emerging growth company engaged in
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[{"type":"text","content":"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. \nMs. 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.\"\nAbout China Xiangtai Food Co., Ltd\nHeadquartered 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/.\nSafe Harbor Statement\nThis 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 ...