WUHAN CITY, China, July 1, 2013 /PRNewswire/ -- Tianli Agritech, Inc. (NASDAQ: OINK) ("Tianli" or the "Company"), a leading producer of breeder hogs, market hogs and black hogs, headquartered in Wuhan City, China, today announced that its operating subsidiary, Wuhan Fengze Agricultural Science and Technology Development Co. Ltd. ("Fengze"), had signed a cooperation agreement (the "Agreement") with Shenzhen Investment Banking International Marketing Group ("SIBIMG") to jointly develop a direct sales program (the "Program") for Tianli's branded black hog meat in Shenzhen and other cities in Guangdong Province.
Under the Program, participating families will pay an upfront fee of approximately RMB1,000 to receive a weekly delivery of 1.5 kilograms (approximately 3.3 lb) of Tianli-Xiduhei™ black hog meat directly from Fengze for a period of thirteen weeks.
Mrs. Hanying Li, Chairwoman and CEO of Tianli Agritech commented, "We are very excited to begin selling our branded black hog products in Guangdong Province through this unique direct sales program piloted by SIBIMG. Both SIBIMG and Tianli are confident that we can bring up to 50,000 families into the Program by the end of January 2014, and thereafter grow the Program to potential level of annual sales equivalent to 75,000 black hogs. With food safety a growing concern for middle-class families in China, the sales program allows participating families to access our premium quality black hog meat products directly from us. We expect SIBIMG's strong presence in the Guangdong consumer market and vast expertise in delivering sales and marketing solutions for enterprise customers to help us effectively penetrate the Guangdong market and accelerate our national retail expansion plan in coming months."
Tianli's black hogs and cuts of Tianli-Xiduhei™ black hog meat are products of the Company's "10,000 families and 1,000,000 Black Hogs" program in Enshi Prefecture, Hubei Province. By March 31, 2013, the Company had provided funds totaling $12.67 million and completed the construction of 765 black hog farms in Enshi Prefecture. Tianli's black hog products now sell in major cities including Beijing, Wuhan, and Shenzhen.
About Tianli Agritech, Inc.
Tianli Agritech, Inc. is in the business of breeding, raising and selling breeder and market hogs in China and is developing a retail channel for its pork products including high-value, black hog meat. The Company is focused on growing high quality hogs for sale for breeding and meat purposes. The Company conducts genetic, breeding and nutrition research to steadily improve its production capabilities.
About Shenzhen Investment Banking International Marketing Group
Also known as "Zhaocai Group", SIBIMG is a leading sales and marketing services company with its main office in Shenzhen and branch offices in Beijing, Shanghai, Guangzhou, Chongqing and Wuhan. SIBIMG offers a full suite of sales, marketing, and channel management solutions tailored to fit the needs of small- and medium- enterprise customers across China.
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 and service demand and acceptance, changes in technology, economic conditions, the impact of competition and pricing, government regulation, 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 the cautionary statements 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.
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SOURCE Tianli Agritech, Inc.