CHANGGE CITY, China, June 17 /PRNewswire-Asia/ -- Zhongpin Inc. (Nasdaq: HOGS) ("Zhongpin" or the "Company"), a leading meat and food processing company in the People's Republic of China ("China"), today announced that the Company held its Annual General Meeting of Shareholders (the "AGM") on June 15, 2009 at its representative office in Beijing, China.
At the AGM, the proposal for the election of five directors to serve until the AGM in 2010, as set out in the Company's definitive Proxy Statement, was approved. Specifically, the shareholders elected Mr. Xianfu Zhu, Mr. Baoke Ben, Mr. Raymond Leal, Mr. Yaoguo Pan, and Mr. Min Chen to continue to serve as directors. The Board of Directors also ratified the appointment of BDO Guangdong Dahua Delu CPAs, independent registered public accountants, as the Company's independent auditors for the fiscal year ending December 31, 2009. At the AGM, the CEO and Chairman, Mr. Xianfu Zhu also discussed the Company's business operations and future growth strategy. Zhongpin's management continues to hold a positive outlook for the long-term growth potential of China's pork industry.
"As China's economy recovers, positive consumer outlook will drive the demand for high quality pork products. We believe our strategic capacity expansion, optimization of our product mix, targeted market penetration, and brand building efforts are geared towards successfully capitalizing on the available growth potential in the Chinese pork processing industry," said Mr. Zhu.
About Zhongpin
Zhongpin is a meat and food processing company that specializes in pork and pork products, and fruits and vegetables in China. Its distribution network in China spans 20 provinces and 4 cities with special legal status, and includes over 3,097 retail outlets. Zhongpin's export markets include the European Union and Southeast Asia. For more information, contact CCG Investor Relations directly or go to Zhongpin's website at http://www.zpfood.com .
Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain statements in this press release and oral statements made by Zhongpin on its conference call in relation to this release constitute forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. These statements include, without limitation, statements regarding our expectations of future consumer demand, ability to prepare the Company for growth, predictions and guidance relating to the Company's future financial performance. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs, but these projections also 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, unanticipated changes in product demand, interruptions in the supply of live pigs/raw pork, downturns in the Chinese economy, delivery delays, freezer facility malfunctions, poor performance of the retail distribution network, changes in applicable regulations, and other information detailed from time to time in the Company's filings and future filings with the United States Securities and Exchange Commission. You are urged to consider these factors carefully in evaluating the forward-looking statements herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by this cautionary statement. The forward-looking statements made herein speak only as of the date of this press release and the Company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
For more information, please contact:
Crocker Coulson, President
CCG Investor Relations
Tel: +1-646-213-1915
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
Feng Wang, Chief Financial Officer
Zhongpin Inc.
Tel: +86-10-8286-1788
Email: ir@zhongpin.com
Web: http://www.zpfood.com