Chuming Provides Preliminary 2007 Financial Results
25 2월 2008 - 10:53PM
PR Newswire (US)
Leading Chinese Pork Producer in Liaoning Province Expects to
Report $128 Million in Revenue and $12.1 Million in Net Income for
CY 2007 DALIAN, China, Feb. 25 /Xinhua-PRNewswire-FirstCall/ --
Energroup Holdings Corporation (OTC:ENHD) (BULLETIN BOARD: ENHD) ,
through its direct and indirect subsidiaries collectively referred
to as Chuming, a Dalian-based processor and supplier of fresh and
prepared meat products in China, today announced preliminary
financial results for the 2007 calendar year. The Company
anticipates reporting revenues of $128 million, representing an 82
percent increase over 2006, and net income of $12.1 million,
representing a 49 percent increase from 2006. Chuming expects to
report its 2007 audited financial results on or before March 31,
2008. "In 2007 the Company benefited from continued growth in our
core markets led by increased sales of frozen pork and processed
meat to our retail customers, including both hypermarkets and the
over 500+ Chuming-branded franchise stores. We believe our brand,
coupled with strong consumer demand for pork, will enable us to
deliver further growth during 2008 and beyond," stated Mr. Huashan
Shi, Chairman, CEO and President of the Company and Chuming. About
Chuming Based in Liaoning Province, Chuming is a leading regional
producer and distributor of fresh and prepared meat products in
Northeastern China which has a population of 108 million. The
Company operates through its subsidiaries, including Chuming
Slaughter and Packaging Pork Company, Ltd., Chuming Processed Foods
Company, Ltd., and Chuming Sales Company, Ltd., and focuses on
pork, the most consumed meat in China. Chuming is a vertically-
integrated company with access to proprietary livestock farming,
and specializing in processing and distribution of its
Chuming-branded products. The Company is a contract supplier of
premium pork products to more than 3,600 retail locations,
including Wal-Mart, Metro, Carrefour, New-Mart, Hymall and
Chuming's own network of 500+ Chuming-branded franchise stores.
Chuming's processing and distribution facilities maintain ISO 9001
Quality Management System and Hazard Analysis and Critical Control
Point (HACCP) certification. Chuming is the first processing
company in China's meat industry to receive "Green Food"
Certification from the Ministry of Agriculture, meeting strict
environmental, food safety and quality standards from slaughter to
shelf. Cautionary Statement Regarding Forward Looking Information
Certain statements in this news release may contain forward-looking
information about Energroup or Chuming and its business and
products within the meaning of Rule 175 under the Securities Act of
1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and
are subject to the safe harbor created by those rules. The actual
results may differ materially depending on a number of risk factors
including, but not limited to, the general economic and business
conditions in the PRC, market and customer acceptance and demand
for products, ability to market products, fluctuations in foreign
currency markets, the use of estimates in the preparation of
financial statements, the impact of competitive products and
pricing, the ability to develop and launch new products on a timely
basis, the regulatory environment, fluctuations in operating
results, and various other factors beyond its control. All forward-
looking statements are expressly qualified in their entirety by
this Cautionary Statement and the risks factors detailed in the
Company's reports filed with the Securities and Exchange
Commission. Chuming undertakes no duty to revise or update any
forward-looking statements to reflect events or circumstances after
the date of this release. For more information, please contact:
John Mattio HC International, Inc. Tel: +1-914-669-0222 Email:
DATASOURCE: Energroup Holdings Corporation ("Chuming") CONTACT:
John Mattio of HC International, Inc., +1-914-669-0222, or , for
Energroup Holdings Corporation
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