GUANGZHOU, China, Dec. 1, 2017 /PRNewswire/ -- Sino Agro Food, Inc. (OTCQX: SIAF | OSE: SIAF-ME), also referred to as "SIAF" or the "Company," is an agricultural technology corporation focused on protein food including seafood and cattle. The Company produces, distributes, markets, and sells sustainable seafood and beef to meet growing demand for safe, quality food in China.
The Company has posted an open memo to its shareholders and other interested parties to provide a comprehensive update on the operations of its investee, Tri-way Industries, Ltd. The document may be viewed or downloaded here:
Mr. Solomon Lee, CEO of Sino Agro Food, commented, "Our investors have expressed a desire for more detailed information of our operations and concepts behind plans for Tri-way Industries. Please take the time to read the lengthy memo, as we believe it provides an informative appraisal of recent operations, technical considerations, and seafood markets in China. We believe all of these to be positive. Even though occasional modifications to plans may be required, many present marginal opportunities.
The memo indicates history-based production extrapolation for several species, based upon SIAF's proofs of concept and continual refinements at its first three aquafarms, dating from 2011, and at the Zhongshan aquafarm 4 facility in the last year plus. Tri-way's historical financial profitability is a matter of record, reported quarterly. We remain highly confident that Tri-way is well positioned to increase both production numbers and gross margins, the pace of which would be accelerated if and when expected development capital additional to cash flow materializes."
Todd Fromer / Elizabeth Barker
+1(212) 896-1215 / 212-896-1203
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SOURCE Sino Agro Food