CHANGGE and BEIJING, China, June 15 /PRNewswire-Asia-FirstCall/ -- Zhongpin Inc. ("Zhongpin", Nasdaq: HOGS), a leading meat and food processing company in the People's Republic of China, today announced that it held its annual meeting of stockholders on Tuesday, June 15, 2010 in the Zhongpin Beijing Representative Office.
At the meeting, the proposal for the election of five directors to serve until the annual meeting of stockholders in 2011 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 China Li Xin Da Hua CPAs Co., Ltd. as the Company's independent registered public accounting firm for the fiscal year ending December 31, 2010.
At the meeting, the Chairman and CEO, 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 pork industry in China.
"Zhongpin is committed to providing high quality pork products to satisfy the growing demands in Chinese markets through its continuous product optimization and advanced cold chain logistics network. We are confident to implement our development strategy and maximize shareholders' value," said Mr. Xianfu Zhu, chairman and CEO of Zhongpin.
Zhongpin Inc. is a meat and food processing company that specializes in pork and pork products, vegetables, and fruits in China. Its distribution network in the China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing and includes more than 3,000 retail outlets. Zhongpin's export markets include the European Union and Southeast Asia. For more information about Zhongpin, please visit Zhongpin's website at http://www.zpfood.com.
Safe harbor statement
Certain statements in this news release are forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Zhongpin has based its forward-looking statements largely on its current expectations and projections about future events and trends that it believes may affect its business strategy, results of operations, financial condition, and financing needs. These projections 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 downturns in the Chinese economy, unanticipated changes in product demand, any effect from the A(H1N1) virus on Zhongpin's market or sales, interruptions in the supply of live pigs and or raw pork, poor performance of the retail distribution network, delivery delays, freezer facility malfunctions, Zhongpin's ability to build and commence new production facilities according to intended timelines, the ability to prepare Zhongpin for growth, the ability to predict Zhongpin's future financial performance and financing ability, changes in regulations, and other information detailed in Zhongpin's filings with the United States Securities and Exchange Commission. You are urged to consider these factors carefully in evaluating Zhongpin's forward-looking statements and are cautioned not to place undue reliance on those forward-looking statements, which are qualified in their entirety by this cautionary statement. All information provided in this news release is as of the date of this release. Zhongpin does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required by law.
For more information, please contact:
Mr. Sterling Song (English and Chinese)
Investor Relations Manager
Telephone +86 10 8286 1788 extension 101 in Beijing
Mr. Warren (Feng) Wang (English and Chinese)
Chief Financial Officer
Telephone +86 10 8286 1788 extension 104 in Beijing
Mr. Yuanyuan Chen (English and Chinese)
Telephone +86 10 5971 2001 in Beijing
Mobile +86 139 2337 7882 in Beijing
Mr. Tom Myers (English)
Mobile +86 139 1141 3520 in Beijing
Ms. Kathy Li (English and Chinese)
Telephone +1 212 618 1978
SOURCE Zhongpin Inc.