China-The Pig industry.
CHINA-ZHONGPIN Inc. announced that its CFO, Mr. Warren Wang, gave a live interview at the studios of Bloomberg TV Asia that aired at 7:30 a.m. on Wednesday April 1, 2009, Beijing time. The interview addressed the recent meat processing industry in China and Zhongpin’s growth drivers for its strong performance in fiscal year 2008. Mr. Wang said he believes Zhongpin performed very well over the past year. Pork is a key staple food in China and an important part of the Chinese meal. Demand for pork in China is rapidly increasing. Increased revenue
Zhongpin’s revenue increased 85% in 2008, driven by the Company’s ability to significantly expand production capacity to meet the increasing market demand. Zhongpin increased its production capacity to almost a half million metric tonnes in 2008. In addition, the increase in pork prices during the first half of 2008 also benefited the Company’s profitability. Pork prices to stay stable
Mr. Wang told the live anchor that Zhongpin anticipates pork prices to remain relatively stable at current prices for the first half of 2009. Zhongpin believes pork prices may increase in the second half of the year as demand outstrips the supply of live hogs. The Chinese government has issued financial support policies for the meat processing industry to smooth out the volatility in pork prices. "Zhongpin has exhibited robust growth in the last few years and is now a well-known brand in China. Our management team’s strong vision, combined with our excellent financial performance, has provided us increased visibility, not only in the global investment community but also in the media," commented Mr. Xianfu Zhu, CEO of Zhongpin. "We are pleased to receive requests from esteemed broadcast channels like Bloomberg TV Asia to discuss our corporate and industry outlook. Such opportunities provide us a great platform to communicate with members of our industry, investors and customers."




