China Xiangtai Food Co., Ltd. Announces Grand Opening of its First Hot Pot Restaurant in Chongqing

Rhea-AI Summary

China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) announces the grand opening of its first hot pot restaurant in Chongqing, China, on August 28, 2020. This marks a key milestone for the company as it aims to explore new markets and reach more customers. The company plans to employ a franchise model to open 200 additional restaurants by 2021. With core offerings in pork processing and a commitment to the farm-to-table experience, the new venture aims to become a significant growth driver for PLIN.

Positive

• Grand opening of the first hot pot restaurant as a significant milestone.
• Plans to open 200 franchise restaurants by 2021, indicating growth potential.
• Focus on farm-to-table experience could enhance brand value.

Negative

• None.

CHONGQING, China, Aug. 27, 2020 /PRNewswire/ -- China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) ("PLIN" or the "Company"), an emerging growth company engaged in the food processing business, today announced that the grand opening of its first hot pot restaurant will be held on August 28, 2020 in Chongqing, China.

Ms. Zeshu Dai, Chairwoman and Chief Executive Officer of the Company commented, "The grand opening of the first hot pot restaurant is a significant milestone for our company as it is our first step to explore a new market and reach out to more customers. We plan to use a franchise model to open 200 restaurants with our own brand by 2021. We take pride ourselves in our existing industry resources and ability to provide consumers with a true farm-to-table experience. In the future, we will expand our hot pot chain and we believe it will become a key driver for our Company."

About China Xiangtai Food Co., Ltd

Headquartered in Chongqing, China, China Xiangtai Food Co., Ltd, is a food company primarily engaged in pork processing. The Company's operations span key sections of the pork processing value chain, including slaughtering, packing, distribution, and wholesale of a variety of fresh pork meat and parts. Primarily focused on pork products, the Company also offers other fresh and processed products, including beef, lamb and poultries. Through the recent acquisition of Chongqing Ji Mao Cang Feed Co., Ltd, the Company has also expanded into the business of feed raw material and feed formula solutions. Through its core values, the Company is committed to maintaining the highest standards of food safety, product quality, and sustainability to provide high-quality, nutritious, and tasty food in a responsible manner through its portfolio of trusted brands. For more information, please visit http://ir.plinfood.com/.

Safe Harbor Statement

This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on current expectations and projections about future events and financial trends that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "anticipate," "aim," "estimate," "intend," "plan," "believe," "potential," "continue," "is/are likely to" or other similar expressions. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results.

Company Contact

Mr. Xiaohui Wu, President
China Xiangtai Food Co., Ltd.
Phone: +86-1860-117-0697
Email: ir@plinfood.com

Investor Relations Contact

Ms. Tina Xiao, President
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com  

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SOURCE China Xiangtai Food Co., Ltd.

FAQ

What is the significance of the hot pot restaurant opening for PLIN?

The grand opening is a significant milestone for PLIN as it marks the company's first step into a new market, potentially increasing customer reach and sales.

How many restaurants does PLIN plan to open by 2021?

PLIN plans to open 200 additional hot pot restaurants by 2021 using a franchise model.

Where is PLIN's first hot pot restaurant located?

The first hot pot restaurant is located in Chongqing, China.

What is the main business focus of China Xiangtai Food Co., Ltd.?

PLIN is primarily engaged in food processing, particularly pork processing, as well as offering beef, lamb, and poultry products.