NEW YORK, March 15, 2011 /PRNewswire-Asia-FirstCall/ --
Zhongpin Inc. ("Zhongpin" or "the company," Nasdaq: HOGS), a
leading meat and food processing company in the People's Republic of China ("China"), today commented on its high quality
pork sourcing and processing and its expectations as the pork
industry consolidates in China.
Mr. Xianfu Zhu, Chairman and
Chief Executive Officer of Zhongpin Inc., said, "There are three
primary reasons that we expect Zhongpin to do very well in the
premium pork markets within the context of the pork industry
consolidation in China.
"First, Zhongpin's upstream hog suppliers are mainly
standardized live hog breeding farms and brokerages. Zhongpin's hog
suppliers share the same commitment to the strictest quality
assurance and control systems as Zhongpin and make their own
quality control guarantees. In this way, national quality
standards, quality assurance and control requirements, and high-end
clients' requirements for the highest quality are satisfied.
"Second, Zhongpin possesses national-level quality inspection
centers, and each of its slaughtering and processing facilities
meet and comply with all relevant qualifications, including
ISO9001, HACCP, GMP, and SSOP and other related standards. All live
hogs, half-finished products, and finished products are processed
under the strictest quality inspections. As standard operating
procedure, if contaminants or illicit or poisonous chemicals, such
as the lean drug clenbuterol, are found to exist in the processing
lines, Zhongpin immediately conducts harmless disposal to eliminate
all possibly contaminated material and contaminates. This standard
practice is rigorously followed. To help assure consumers that they
will receive the safest meat, the Chinese government will provide
relevant subsidies for such quality assurance and quality control
actions.
"Third, because Zhongpin starts with the highest quality hogs
and has the most advanced quality assurance systems plus quality
control inspections, Zhongpin is recognized as the leader in
providing premium quality pork products that attract and retain the
highest percentage of high-end clients and customers. The premium
brand image of Zhongpin is widely recognized by the Chinese pork
industry and Chinese consumers.
"With the acceleration of the pork industry's consolidation and
growth of our company, Zhongpin expects to continue to capture more
share in the markets for high-quality products in the near
future."
About Zhongpin
Zhongpin Inc. is a meat and food processing company that
specializes in pork and pork products, vegetables, and fruits in
China. Its distribution network in
the China covers 20 provinces plus
Beijing, Shanghai, Tianjin, and Chongqing and includes more than 3,300 retail
outlets. Zhongpin's export markets include the European Union,
Russia, Hong Kong, South
Africa, and Southeast Asia.
For more information about Zhongpin, please visit Zhongpin's
website at http://www.zpfood.com.
Safe harbor statement
Certain statements in this news release are forward-looking
statements made under the safe harbor provisions of the Private
Securities Litigation Reform Act of 1995. Zhongpin has based its
forward-looking statements largely on its current expectations and
projections about future events and trends that it believes may
affect its business strategy, results of operations, financial
condition, and financing needs. These forward-looking statements
can be recognized by the use of words such as "anticipates,"
"estimates," "expects," "intends," "plans," "projects," "will," or
words of similar meaning. These forward-looking statements are not
guarantees of future performance and are based on a number of
assumptions about the Company's operations, and are subject to
risks, uncertainties, and other factors beyond the Company's
control.
These projections involve risks and uncertainties that could
cause actual results to differ materially from those in the
forward-looking statements, which may include but are not limited
to such factors as downturns in the Chinese economy, unanticipated
changes in product demand, interruptions in the supply of live pigs
and or raw pork, the effects of weather on hog feed production,
poor performance of the retail distribution network, delivery
delays, freezer facility malfunctions, Zhongpin's ability to build
and commence new production facilities according to intended
timelines, the ability to prepare Zhongpin for growth, the ability
to predict Zhongpin's future financial performance and financing
ability, changes in regulations, and other information detailed in
Zhongpin's filings with the United States Securities and Exchange
Commission. These filings are available from www.sec.gov or from
Zhongpin's website at www.zpfood.com.
You are urged to consider these factors carefully in evaluating
Zhongpin's forward-looking statements and are cautioned not to
place undue reliance on those forward-looking statements, which are
qualified in their entirety by this cautionary statement. All
information provided in this news release is as of the date of this
release. Zhongpin does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events, or otherwise, except as required by law.
For more information, please
contact:
|
|
|
|
Zhongpin Inc.
|
|
Mr. Sterling Song (English and
Chinese)
|
|
Investor Relations
Manager
|
|
Telephone +86 10 8286 1788
extension 101 in Beijing
|
|
ir@zhongpin.com
|
|
|
|
Mr. Warren (Feng) Wang (English
and Chinese)
|
|
Chief Financial
Officer
|
|
Telephone +86 10 8286 1788
extension 104 in Beijing
|
|
warren.wang@zhongpin.com
|
|
|
|
Christensen
|
|
Mr. Han Fang (English and
Chinese)
|
|
Telephone +86 10 5971 2001 in
Beijing
|
|
fhan@christensenir.com
|
|
|
|
Mr. Tom Myers
(English)
|
|
Mobile +86 139 1141 3520 in
Beijing
|
|
tmyers@christensenir.com
|
|
|
|
Ms. Kathy Li (English and
Chinese)
|
|
Telephone +1 212 618
1978
|
|
kli@christensenir.com
|
|
|
SOURCE Zhongpin Inc.