Zhongpin's Top Two Executives Intend to Purchase Shares in Next Six Months

^{Published on 2011-06-20 03:20:11 - Market Wire}
 

Zhongpin's Top Two Executives Intend to Purchase Shares in Next... -- CHANGGE and BEIJING, China, June 20, 2011 /PRNewswire-Asia-FirstCall/ --

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CHANGGE and BEIJING, China, June 20, 2011 /PRNewswire-Asia-FirstCall/ -- Zhongpin Inc. ("Zhongpin", Nasdaq: [ HOGS ]), a leading meat and food processing company in the People's Republic of China, today announced that Mr. Xianfu Zhu, Zhongpin's Chairman and Chief Executive Officer, and Mr. Baoke Ben, Director and Executive Vice President, expect to use their personal funds to purchase up to an aggregate total of $1 million worth of Zhongpin's common stock in open market transactions within the next six months.

Mr. Xianfu Zhu, Zhongpin's Chairman and Chief Executive Officer, said, "Mr. Ben and I are confident that Zhongpin's outlook continues to be very attractive, especially given Zhongpin's aggressive growth strategy, China's good economy, and the strong market in China for Zhongpin's food products. Our expected purchases also indicate our belief that our stock is currently undervalued."

The share purchases will be made in a manner consistent with Zhongpin's stock trading policy and appropriate securities laws.

About Zhongpin

Zhongpin Inc. is a meat and food processing company that specializes in pork and pork products, vegetables, and fruits in China. Its distribution network in China covers 20 provinces plus Beijing, Shanghai, Tianjin, and Chongqing and includes 3,378 retail outlets. Zhongpin's export markets include Europe, Hong Kong, and other countries in Asia. For more information about Zhongpin, please visit Zhongpin's website at [ http://www.zpfood.com ].

Safe harbor statement

Certain statements in this news release may be forward-looking statements made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Zhongpin has based its forward-looking statements largely on its current expectations and projections about future events and trends that it believes may affect its business strategy, results of operations, financial condition, and financing needs.

These projections involve risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements, which may include but are not limited to such factors as downturns in the Chinese economy, unanticipated changes in product demand, interruptions in the supply of live pigs and or raw pork, the effects of weather on hog feed production, poor performance of the retail distribution network, delivery delays, freezer facility malfunctions, Zhongpin's ability to build and commence new production facilities according to intended timelines, the ability to prepare Zhongpin for growth, the ability to predict Zhongpin's future financial performance and financing ability, changes in regulations, and other information detailed in Zhongpin's filings with the United States Securities and Exchange Commission. These filings are available from [ www.sec.gov ] or from Zhongpin's website at [ www.zpfood.com ].

You are urged to consider these factors carefully in evaluating Zhongpin's forward-looking statements and are cautioned not to place undue reliance on those forward-looking statements, which are qualified in their entirety by this cautionary statement. All information provided in this news release is as of the date of this release. Zhongpin does not undertake any obligation to update any forward-looking statement as a result of new information, future events, or otherwise, except as required by law.

SOURCE Zhongpin Inc.

RELATED LINKS
[ http://www.zpfood.com ]