Fufeng Group Limited (HKG:0546) Chairman Continues to Purchase Fufeng Shares with Confidence in Company Prospects
Hong Kong, Aug 26, 2011 AEST (ABN Newswire) - Fufeng Group Limited (
HKG:0546) (PINK:FFNGY) ("Fufeng" or "the Company", together with its subsidiaries collectively known as "the Group"), the largest manufacturer and supplier of MSG in China and the largest manufacturer of xanthan gum in the world, announced today that its chairman, Mr. Li Xuechun has increased his equity stake in Fufeng following the previous share purchases from 16 to 18 August 2011, showing his confidence in the Group's business development and prospects. As an industry leader, the Group aims to develop itself into a leading corn-based biochemical manufacturer in the world ahead of competitors by expanding its production capacity and market share. To capitalize on the business opportunities generated from China's growing domestic demand, the Group will actively drive the industry consolidation for its healthy and stable development according to the market conditions.
Mr. Li Xuechun purchased 778,000 shares of Fufeng at an average price of approximately HK$3.75 per share from 22 to 24 August 2011, for approximately HK$2.92 million. Mr. Li's effective equity interest in the Company increased to 46.41% from 46.37%.
About Fufeng Group Limited
Fufeng Group (
HKG:0546) is the world's largest producer of MSG, xanthan gum and a major supplier for a series of bio-fermentation products. The main products of the Group are food additives, animal nutrition, colloid and high-end amino acids. In fiscal 2016, Fufeng generated sales of approximately RMB11.2 billion and profit attributable to shareholders of about RMB1.09 billion. For more information, please visit our website www.fufeng-group.com
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