China Marine Reports December 2010 Monthly and Year-End Update on "Hi-Power" Sales

January 20, 2011 15:21

China Marine Food Group Limited, a China-based manufacturer of Mingxiang seafood-based snack foods, "Hi-Power" marine algae-based beverages, and distributor of frozen marine catch, announced $3.2 million of Hi-Power beverage sales for the month ended December 31, 2010, reports with reference to China Marine Food Group Ltd.

Sales of China Marine's "Hi-Power" beverages were approximately $26.0 million for the year ended December 31, 2010, exceeding previous company guidance of $23.0 to $25.0 million, driven by strong orders from current distributors as well as sales and marketing efforts on increasing new customer trials and brand awareness in the approximately 13,000 retail locations where "Hi-Power" beverages are sold. In December of 2010, the Company successfully expanded their retail locations by approximately a thousand stores.

"We anticipated a strong finish to our 2010 "Hi-Power" sales, and are pleased to report that sales exceeded our forecasts," said Pengfei Liu, Chairman and CEO of China Marine. "In January 2010 we re-launched 'Hi-Power' with new packaging and positioning as a healthy beverage. Throughout the year, we focused our sales and marketing efforts on building a loyal consumer base through in store promotions, sponsorships and advertising. Our marketing has successfully expanded distribution of our beverage segment for which we expect more exciting opportunities for 2011.

Our beverage line combined with continued growth of our snack food and marine catch business provides us confidence on our continued success in 2011."

About China Marine

China Marine Food Group Limited is a food and beverage manufacturer of Mingxiang(R) seafood-based snack foods and "Hi-Power" marine algae-based health drinks, and a wholesaler of frozen marine catch in seven provinces in the PRC.

Founded in 1994, China Marine has grown steadily and positioned its Mingxiang brand as a category leader in 3,200 retail food sales points and 13,000 beverage sales points in China. The Company has received "The Famous Brand" and "Green Food" awards. Located in Fujian province, it is one of the largest coastal provinces in the PRC and a vital navigation hub between the East China Sea and the South China Sea.

The Company is committed to the highest standard of quality control with the ISO9001, ISO14001, HACCP certification and EU export registration.

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