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Fishing vessels belonging to Pingtan Marine. (Photo: Pingtan Marine Enterprise Ltd)

Pingtan starts operations in Indo-Pacific waters

  (CHINA, 11/23/2016)

After rebuilding approximately 20 per cent of its production capacity, Pingtan Marine Enterprise Ltd has just announced the start of its fishing activity in Indo_Pacific Waters.

Of the 135 fishing vessels owned by the group, twelve are operating in the Bay of Bengal in India and added to those, now further thirteen fishing vessels that operate in the Indo-Pacific harvesting area as part of the operating plan the firm announced in August 2016.

In accordance with the Company's previous results of 2014, each of its fishing vessels can generate annual revenue of approximately USD 3 million with annual net income of approximately USD 800,000 to USD 1 million.

"We are very pleased to begin fishing activities in the bountiful Indo-Pacific Waters, and utilizing our assets and advantages to meet the continued demand in China,” Xinrong Zhuo, Chairman and CEO of the Company, commented.

The CEO stressed that they remain dedicated to actively seeking new water territories where they can expand, increasing production and provide high quality fishing products to customers. 

Pingtan expects being able to start recognising the sales from the expansion of its operations in the fourth quarter of 2016.


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www.fis.com


Information of the company:
Address: CN11 Legend Town No 1 Balizhuandongli, Chaoyang District
City: Beijing
State/ZIP: 10-65503186 (BEJ 100025)
Country: China
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