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Jiangxi Taina Nanfeng Orange Co. Ltd. Acquired Huangjia Nanfeng Tangerine Orange Co. Ltd. to Expand in the Market


NANFENG, China, Feb. 23 /Xinhua-PRNewswire-FirstCall/ -- Jiangxi Taina Nanfeng Orange Co. Ltd. (OTC Bulletin Board: CHFR) ("CHFR") (website address: http://www.china-fruits.com.cn ), a Chinese company engaged in the planting and marketing of oranges and orange related products, announced that it has entered into an agreement with Huangjia Nanfeng Tangerine Orange Co. Ltd. ("Huangjia Nanfeng") to acquire the assets and businesses of Huangjia Nanfeng in order to help realize its goal of rapid expansion in the orange market.

In 2007, CHFR will acquire the assets and businesses of the Huangjia Nanfeng, including over 360,000 acres of orchards, 240,000 acres of land with a reservoir, a manufacturing plant situated on over 20,000 acres, as well as the distribution network of the Huangjia Nanfeng. After the merger has closed, CHFR will own all of Huangjia Nanfeng's plants, orchards, and fruit wine and drink production lines. The acquisition of Huangjia Nanfeng is a stepping stone for CHFR to realize its product diversification objectives.

Mr. CHEN Quanlong, Chairman of the Board of CHFR pointed out, "After CHFR acquires the assets and businesses of Huangjia Nanfeng Tangerine Orange Co. Ltd., the benefits we gain, such as its marketing resources, will further strengthen our position in this industry and expand our market share. Moreover, Huangjia Nanfeng's production lines and advanced technology will allow us to develop new products more rapidly while meeting our product diversification goals."

Huangjia Nanfeng Tangerine Orange Co. Ltd. was established on February 26, 1999 with registered capital of RMB30 million (or USD$3.75 million) and is located in Nanfeng, China, in the Jiangxi province. The company is mainly involved in growing and marketing Nanfeng tangerine oranges; production and sales of fruit wine and non-alcoholic beverages; R&D in fruit biotech and deep-processing, event organization, management and consulting for fruit branding. The company currently has total assets of over RMB100 million (of USD$12.5 million), realized sales income of RMB60 million (or USD$7.5 million), and net profit of RMB5 million (or USD$625 thousand).

About Jiangxi Taina Nanfeng Orange Co. Ltd.

China Fruits Corporation, through its wholly-owned subsidiary in China, Jiangxi Taina Nanfeng Orange Co. Ltd. (formerly Jiangxi Taina Fruits Co., Ltd.), is engaged in the planting and marketing of Nanfeng tangerines; the production and sales of fruit wine and nonalcoholic beverages; and R&D in fruit biotech and deep-processing, event organization, management and consulting for fruit branding.

The company is located in Nanfeng county, Jiangxi province, an area considered by many to be the orange capital of China. China Fruits Corporation has registered capital of RMB2 million (or USD$250,000). The company is a good model for industrialized development of Chinese mandarin oranges. They have adopted traditional planting methods in combination with modern nascent technologies to build biological orchards, plant green and organic tangerine oranges, achieve fresh storage by means of hi-tech air-conditioned storehouses, employ hi-tech biological engineering for deep processing (of fruit wine and beverage), biologically abstract orange oil and essence, and to produce biological fertilizer out of orange residues for recycled use in orchards. They have created an entire chain of industries from their R&D, cross-breeding, preservation, and preserved sales processing. The company is considered by some to be one of the nation's leading enterprises for industrialized agriculture.

CHFR has developed a human-based and system-oriented business plan. They endeavor to create national brand recognition in China over the short-term and international brand recognition in the future. CHFR makes it a priority to maximize corporate profits and to bring ideal returns to their investors.

Forward-looking Statements

This report contains 'forward-looking' statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical facts included in this report are forward-looking statements. Forward-looking statements involve risks and uncertainties including, but not limited to, economic and political factors; developments of the Chinese, European and North American markets and changes in regulatory matters; our business strategies and future plans of operations; the market acceptance and amount of sales of our products and services; our historical losses; the competitive environment within the industries in which we compete; and our ability to raise additional capital, currently needed for expansion.

The Company cautions that forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those indicated in the forward-looking statements due to several important factors.

For more information, please contact:

Ms. Zou Fen

The Jiangxi Taina Nanfeng Orange Co. Ltd.

Tel: +86-791-6496247

Email: sindyzou@126.com

Source: Jiangxi Taina Nanfeng Orange Co. Ltd.
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Keywords: Agriculture
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