China Xiangtai Food Co., Ltd. Launches Hot Pot Restaurant Business

Rhea-AI Summary

China Xiangtai Food Co., Ltd. (NASDAQ: PLIN) plans to launch a hot pot franchise, opening its first location in Chongqing by August 31, 2020. The franchise aims to integrate industry resources, providing consumers with a farm-to-table experience. The company targets a total of 200 restaurants by the end of 2021, all under the brand "Xiangtai Fresh Beef Hot Pot." Seasoned restaurant professionals will manage the franchise, enhancing operational expertise. Chairwoman Zeshu Dai emphasized the initiative's potential to create long-term value and meet consumer demand for fresh meat products.

Positive

• Launch of a hot pot franchise expanding existing business.
• Targeting to open 200 restaurants by the end of 2021.
• Integration of farm-to-table experience to attract consumers.
• Experienced management team to operate the franchise.

Negative

• None.

CHONGQING, China, Aug. 13, 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 it plans to launch a hot pot franchise business and plans to open its first location in Chongqing by August 31, 2020. The launch will allow the Company to integrate its existing industry resources and leverage its strength to provide consumers with a farm-to-table experience.

The Company plans to expand the hot pot chain by applying a franchise model and increase the number of restaurants to 200 by the end of 2021. All restaurants will be operated under Company's own brand "Xiangtai Fresh Beef Hot Pot". The Company plans to recruit a team of seasoned restaurateurs with more than 20 years of professional experience to manage and operate the franchise chain.

Ms. Zeshu Dai, Chairwoman and Chief Executive Officer of the Company commented, "We are excited about the launch of our hot pot restaurant franchise. We hope to meet the robust demand by supplying fresh and flavorful meat products on the retail level, thus creating additional revenue channels. Being competitive in the hot pot business requires high quality food supplies and extensive food industry experience, which are our strengths. We believe PLIN has tremendous potential and this new business will position the Company to create long-term value."

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  

View original content:http://www.prnewswire.com/news-releases/china-xiangtai-food-co-ltd-launches-hot-pot-restaurant-business-301109713.html

SOURCE China Xiangtai Food Co., Ltd.

FAQ

What is the significance of the hot pot franchise launch by PLIN?

The launch of the hot pot franchise is significant as it diversifies PLIN's business operations and aims to increase revenue through a new restaurant chain.

When does PLIN plan to open its first hot pot restaurant?

PLIN plans to open its first hot pot restaurant in Chongqing by August 31, 2020.

How many restaurants does PLIN intend to have by the end of 2021?

PLIN aims to have a total of 200 hot pot restaurants by the end of 2021.

What brand will the hot pot restaurants operate under?

The hot pot restaurants will operate under the brand "Xiangtai Fresh Beef Hot Pot."

Who will manage the hot pot franchise for PLIN?

The hot pot franchise will be managed by a team of experienced restaurateurs with over 20 years of industry experience.