China Xiangtai Food Co., Ltd. Announces 300% Supermarket Sales Growth Amidst 2019 Novel Coronavirus Outbreak

From Co. PR:   'China Xiangtai Food Co. Ltd. (NASDAQ:PLIN) (the "Company" or the "PLIN"), an emerging growth company primarily engaged in pork processing in China, today announced that its

Benzinga · 02/06/2020 13:09

From Co. PR:

 

'China Xiangtai Food Co. Ltd. (NASDAQ:PLIN) (the "Company" or the "PLIN"), an emerging growth company primarily engaged in pork processing in China, today announced that its supermarket sales growth of 300% during Chinese New Year 2020 compared to the same period of last year despite of the ongoing  2019 Novel Coronavirus [1] .

To meet the public demand for food and to stabilize the pork price in the market, the Company has increased its efforts to ease the negative impact of the 2019 Novel Coronavirus on food supplies by continuing operating its business with transparency and integrity, keeping its pork price fair and stable, and timely delivering quality fresh pork and other freshly processed meat products to supermarkets in Chongqing every day.

Zeshu Dai, Chairwoman of the Board and Chief Executive Officer of the Company, commented, "The outbreak of the 2019 Novel Coronavirus has shadowed China and general population in many aspects. In order to ensure that consumers' basic living needs are met, supermarkets in various places still operate as usual. However, during the Chinese New Year and the coronavirus outbreak, many food suppliers have raised product prices due to temporary shortage in the supply chain, which has caused some distress to local residents."'