China Xiangtai Food Co., Ltd. To Open 200 Hot Pot Franchisees by the End of 2021
Rochester, NY -- (ReleaseWire) -- 08/18/2020 --Award-winning food processing company China Xiangtai Food Co., Ltd. (NASDAQ:PLIN) ("PLIN" or the "Company") announced yesterday, August 13th, that it would be opening a new chain of restaurants called "Xiangtai Fresh Beef Hot Pot." This franchise-based restaurant chain will bring the culinary delight of hot pots to numerous locations over the next few years via their innovative farm to fork vantage point.
Ms. Zeshu Dai, Chairwoman and Chief Executive Officer of the Company said, "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."
The launch will commence with an initial Xiangtai Fresh Beef Hot Pot franchise location opening on August 31st, 2020, in Chongqing. But Chongqing residents will only be the first to enjoy delicious meals from Xiangtai Fresh Beef Hot Pot. The Company has its eyes on rapid expansion. By the end of 2021, it expects to be operating 200 of these hot pot chain restaurants. The management team for the chain will bring over two decades of experience to the table, both figuratively and literally.
Speaking about why China Xiangtai Food Co., Ltd is in an ideal position to launch this endeavor, Dai stated, "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."
Indeed, this is not the first time that China Xiangtai Food Co., Ltd. made headlines this month. On August 3rd, the Company announced that it received the First Class Award of 2020 Excellent Chongqing International Food Enterprise Recommendation from the enterprise ranking platform Preferred Merchant (www.shouxuan18.cn).
The fact that the Company has received such high praise specifically within Chongqing makes the city an appropriate location to open the very first Xiangtai Fresh Beef Hot Pot franchise restaurant. Doing so will allow China Xiangtai Food Co., Ltd., to continue to build off of that acclaim, growing its renown in Chongqing and beyond.
The Company already has a solid reputation. This is just one of many awards that China Xiangtai Food Co., Ltd., has received since its inception. Dai said, "Every year we receive multiple awards, and every one of them demonstrates the PLIN's exceptional reputation and market position. We are honored to receive the Award from Preferred Merchant and we believe it can help improve PLIN's branding awareness and expand our business."
Returning to the Chongqing market and why it makes a suitable launch point for the Company's new hot pot franchise, many residents discovered China Xiangtai Food Co. Ltd. this year during the COVID-19 quarantine. Contracting with Chongqing Casin Community Comprehensive Service Co., Ltd., the Company created an online food ordering service for home delivery to CSSG apartment complexes. By ordering food for delivery online, residents in these apartment complexes were able to drastically reduce the amount of grocery shopping they needed to do in person, protecting themselves from unnecessary exposure to the novel coronavirus in local supermarkets. More than 70,000 residents were able to take advantage of the ordering system to stay home and stay safe.
Despite the recognition that China Xiangtai Food Co., Ltd. has received, its stock price is still undervalued. That makes this an ideal time for investors to consider purchasing. The Xiangtai Fresh Beef Hot Pot brand is positioned for fast growth, and it seems likely that the price of stock in the Company could do the same upon launch as more and more foodies discover this new franchise chain.
About China Xiangtai Food Co., Ltd.
China Xiangtai Food Co., Ltd. is a pork processing company incorporated in 2018 on the Cayman Islands. It is involved with meat processing at a number of different levels, beginning with slaughtering and continuing through packing into wholesale and distribution.
This business model increases quality control through every step of meat processing leading to the final product, and also contributes to the Company's resilience. Indeed, China Xiangtai Food Co., Ltd even manufactures feeds since acquiring Chongqing Ji Mao Cang Feed Co., Ltd. High-quality meat starts with high-quality feed.
While pork is its main product, China Xiangtai Food Co., Ltd. also processes other types of meats including beef, poultry, and lamb. Describing its mission, the Company writes, "We are committed to provide consumers with high-quality, nutritious, and tasty products through our portfolio of trusted and well-known brands and to driving consumption trends, while setting a high industry standard in product quality and food safety."
If you'd like more information, feel free to visit http://ir.plinfood.com/.
Mr. Xiaohui Wu, President
China Xiangtai Food Co., Ltd.
Investor Relations Contact:
Ms. Tina Xiao, President
Ascent Investor Relations LLC
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