WUHAN, China, July 12,
2016 /PRNewswire/ -- Aoxin Tianli Group, Inc. (NASDAQ: ABAC)
("Aoxin Tianli" or the "Company"), a leading producer of breeder
hogs, market hogs and black hogs, as well as specialty processed
black hog pork products sold through retail outlets and the
internet, today announced that its hog farms in Wuhan City and some of the independently
operated black hog farms in Enshi Prefecture have suffered
different levels of damages as torrential rains caused devastating
flooding in southern China earlier
this month with Wuhan City being
one of the hardest hit areas.
According to local government agencies, a record level of
cumulative rainfall of over 560.5 millimeters (~22 inches) was
reported in Wuhan City
between June 30 and July 6. The
downpour paralyzed parts of the city and severely impacted
transport links and water and power suppliers. All of the Company's
hog farms in Wuhan City as well as
some of the independently operated black hog farms in Enshi
Prefecture incurred varying levels of damages during the week long
period, including livestock losses, contamination of feed supplies,
and damages to piggeries and other structures on the farms. While
we are still reviewing our losses, we expect total losses
associated with the floods to be approximately $1.5 million.
Mr. Wocheng Liu, Chairman and Co-Chief Executive Officer,
commented, "With the help of local rescue and relief agencies, the
Company is working diligently to bring the operations of our hog
farms back to normal while trying to minimize the impact to our
farms and prevent further damages. While we and the other ten
million residents of the City of
Wuhan are still recovering from the devastating blow of
Mother Nature, we are optimistic that much of our losses due to the
floods will be largely offset by a spike in pork/hog prices in
coming months as widespread livestock losses make it difficult to
meet the normal demand for pork in the Wuhan market."
About Aoxin Tianli Group, Inc.
Aoxin Tianli Group, Inc. (the "Company"), previously known as
Tianli Agritech, Inc., is in the business of breeding, raising and
selling breeder and market hogs in China. The Company also sells specialty
processed black hog pork products through supermarkets and other
retail outlets, as well as the internet.
Forward-Looking Statements
This news release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.
Forward-looking statements include statements concerning plans,
objectives, goals, strategies, future events or performance, and
underlying assumptions and other statements that are other than
statements of historical facts. These statements are subject to
uncertainties and risks including, but not limited to, product and
service demand and acceptance, changes in technology, economic
conditions, the impact of competition and pricing, government
regulations, and other risks contained in reports filed by the
company with the Securities and Exchange Commission. All such
forward-looking statements, whether written or oral, and whether
made by or on behalf of the Company, are expressly qualified by
this cautionary statement and any other cautionary statements which
may accompany the forward-looking statements. In addition, the
Company disclaims any obligation to update any forward-looking
statements to reflect events or circumstances after the date
hereof.
For more information, please contact:
Tina Xiao
Weitian Group LLC
Phone: +1-917-609-0333
Email: tina.xiao@weitian-ir.com
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visit:http://www.prnewswire.com/news-releases/aoxin-tianli-group-inc-updates-on-flood-impact-300297296.html
SOURCE Aoxin Tianli Group, Inc.
