CHONGQING, China, Sept. 15, 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 has entered into a service agreement (the "Agreement") on August 28, 2020 with Chengdu Quanmin Doushang Media Co., Ltd. ("CQDM"), an online media company specializing in brand promotion on major e-commerce platforms through short video and live streaming by KOLs.
Pursuant to the Agreement, CQDM agrees to provide PLIN with short video and live streaming by KOLs in Chinese popular social media platforms including TikTok, Kuaishou, Weibo and Xiaohongshu. CQDM plans to help PLIN organize 66 e-commerce livestreaming events with over 100,000 attendees for PLIN for each event.
Ms. Zeshu Dai, Chairwoman and Chief Executive Officer of the Company commented, "We are pleased to start working with CQDM, who has terrific media and audience coverage. While e-commerce livestreaming has existed in China for several years, it took off in 2019 and became one of the most effective online marketing channels. Faced with increasing competition and ever-higher traffic acquisition costs, Chinese merchants became increasingly open to the idea of using livestreaming. As we already have a strong brand recognition in southwest China, we are constantly exploring opportunities to expand our online presence, in order to meet the ever-evolving consumer behavior and business model. We look forward to having CQDM help us add another dimension to our existing marketing channels."
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.
Mr. Xiaohui Wu
China Xiangtai Food Co., Ltd.
Investor Relations Contact
Ms. Tina Xiao
Ascent Investor Relations LLC
SOURCE China Xiangtai Food Co., Ltd.