China Xiangtai Food Co., Ltd. Enters into Joint Venture Framework Agreement to Expand into Hog Breeding Business
China Xiangtai Food Co., Ltd. - Ordinary Shares (PLIN)
Company Research
Source: PR Newswire
CHONGQING, China, April 22, 2020 /PRNewswire/ -- 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 the Company, through its primary operating subsidiary Chongqing Penglin Food Co., Ltd, has entered into a joint venture framework agreement (the "Agreement") with Chongqing Fengjie County Rural Ecological Agriculture Development Co., Ltd. ( "FEA"), a private enterprise specializing in hog breeding business. Pursuant to the ten-year agreement, the Company and FEA have agreed to jointly establish a hog breeding farm, thus enabling the Company to secure its own supply chain. Ms. Zeshu Dai, Chairwoman and CEO of China Xiangtai Food, commented, "Our planned investment to expand into breeding business demonstrates our confidence in the pork market in China. The joint venture will leverage the Company's management experience and brand recognition as well as FEA's extensive hog
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