Seafood consumption has more than tripled in China over the past 30 years and it is projected to grow even more in the next decade. Driven by urbanization, income growth, and increased awareness of global cuisine, China’s voracious appetite for more and ever increasing species of fish is the driving force behind the growth of the country’s fishing industry and with it Pingtan Marine Enterprises (NASDAQ: PME).
Pingtan is adding more ships to its fleet in 2021 and has secured access to new global fishing grounds in order to keep up with demand. Pingtan is also catering to China’s burgeoning middle and upper classes by creating its own high-margin, premium seafood brand to sell at retail. All of this momentum led Pingtan’s Chairman and CEO, Mr. Xinrong Zhuo to comment, “There’s a lot of positive inertia in our business right now. We are excited about the company’s prospects. The demand in China is increasingly great for our catches.”
Join our webinar to hear details on how Pingtan Marine will be reeling in bigger catches in the year ahead.
All statements and expressions are the sole opinion of the company and are subject to change without notice. The Company is not liable for any investment decisions by its readers or subscribers. It is strongly recommended that any purchase or sale decision be discussed with a financial advisor, or a broker-dealer, or a member of any financial regulatory bodies. The information contained herein has been provided as an information service only. The accuracy or completeness of the information is not warranted and is only as reliable as the sources from which it was obtained. Investors are cautioned that they may lose all or a portion of their investment in this or any other company. Information contained herein contains “forward looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities and Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical facts and may be “forward looking statements”. Forward looking statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties which could cause actual results or events to differ materially from those presently anticipated. Forward looking statements may be identified through the use of words such as “expects”, “will”, “anticipates”, “estimates”, “believes”, or by statements indicating certain actions “may”, “could”, “should” or “might” occur.