WUHAN, China, Jan. 14, 2019 /PRNewswire/ -- Renmin Tianli
Group, Inc. (NASDAQ:ABAC) ("Renmin Tianli" or the "Company"), a
producer of breeder hogs, market hogs and black hogs, as well as
specialty processed black hog pork products sold through retail
outlets and the internet, with headquarters in Wuhan City, Hubei
Province, China, today
announced that it has entered into an equity transfer agreement to
acquire a 40% equity interest in Dalian Lianhui Hotel Co., Ltd.
("Lianhui") by issuing 4,000,000 shares of Renmin Tianli common
stock, par value of $0.004 per share,
to the sole shareholder of Lianhui. Lianhui operates a boutique
hotel with 120 rooms and certain retail/commercial spaces located
at No. 5 Wuwu Road, Zhongshan District, Dalian City, Liaoning Province. The Company's Board of
Directors (the "Board") has approved the transaction.
Additionally, on January 10, 2019,
the Board unanimously elected Mr. Yongquan
Bi and Mr. Tiewei Song as
members of the Board and appointed Mr. Xiaodong Zhang as Co-CEO of the
Company.
Mr. Xiaodong Zhang has been
serving as Vice President at Dalian Boqi Business Information
Consulting Co., Ltd. since 2017. Previously, Mr. Zhang held
variously positions in the life insurance industry from 1990 to
2017, including serving as Director at Shaanxi Branch of Huaxia Life Insurance from
2013 to 2017. Mr. Zhang holds an associate degree from Northwestern
Polytechnical University.
Mr. Yongquan Bi has been founder,
Chairman and CEO of Boqi Group Co., Ltd., a diversified holding
company with businesses in hotel chain, car dealership, hospitals,
and retail pharmacy, etc., since its inception in 2009. Mr. Bi
currently also serves as Chairman of the Board at NF Energy Saving
Corporation (Nasdaq: NFEC).
Mr.Tiewei Song has been President
and Director of Shenyang Langzi Investment Management Co., Ltd.
since 2013. Previously, Mr. Song served as Chief Representative of
China for Varengold Bank AG from
2008 to 2013 and Executive Director and President of Liaoning
Jiachang Enterprises Group from 1999 to 2008. Mr. Song received his
M.S. and B.S. degrees in Mathematics from Peking University.
About Renmin Tianli Group, Inc.
Renmin Tianli Group, Inc. (the "Company"), is in the business of
breeding, raising and selling breeder and market hogs in
China. The Company also sells
specialty processed black hog pork products through supermarkets
and other retail outlets, as well as the internet.
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
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.
For more information, please contact:
Tony Tian, CFA
Phone: +1-732-910-9692
Email: ttian@weitianco.com
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SOURCE Renmin Tianli Group, Inc.
