DAQING, China, Jan. 6, 2012 /PRNewswire-Asia-FirstCall/ --
China Nutrifruit Group Limited (NYSE Amex: CNGL) ("China
Nutrifruit" or "the Company"), a leading producer of premium
specialty fruit based products in China ("PRC"), today announced that the
Company is conducting independent laboratory tests on its
concentrate juice and glazed fruit products in response to a
customer's concern over product quality.
In December 2011, the Company was
informed by its customer that China Nutrifruit's concentrate juice
and glazed fruit products contain higher than specified levels of
sodium. The Company's customer has requested China Nutrifruit for a
full refund of the purchased products valued at approximately
RMB50 million ($7.9 million). In response to this matter, the
Company is currently performing independent laboratory tests to
verify the product quality claims of its customer. As a
precautionary measure, the Company has also implemented additional
testing measures in its manufacturing process to ensure product
quality.
Mr. Changjun Yu, Chairman of
China Nutrifruit commented "Our business goal is to deliver healthy
and nutritional fruit based products to our consumers and we will
take every measure to ensure that. This is the only case of quality
issue that has come to our attention. We are treating this matter
very seriously and will carry out a thorough investigation. We are
committed to stringent food quality control and safety standards.
We have immediately set up a special investigation team to verify
the claims of our customer and are prepared to take corrective
measures, if required. We will announce the results of the
laboratory tests as soon as the information is available. However,
if verified, we are prepared to coordinate a voluntary recall and
refund to our customer. This may have a negative impact to our
financial and operation this year, nonetheless, our business
operation remains normal as of today."
China Nutrifruit's manufacturing facilities are ISO9001
certified and meet the HACCP (Hazard Analysis & Critical
Control Point) series qualifications.
About China Nutrifruit Group Limited
Through its subsidiaries Daqing Longheda Food Company Limited
and Daqing Senyang Fruit and Vegetable Food Technology Company
Limited, China Nutrifruit, is engaged in developing, processing,
marketing and distributing a variety of food products processed
primarily from premium specialty fruits grown in Northeast China, including golden berry, crab
apple, blueberry, seabuckthorn, blackcurrant and raspberry. Its
processing facility possesses ISO9001 and HACCP series
qualifications. Currently, the Company has established an extensive
nationwide sales and distribution network throughout 18 provinces
in China. For more information,
please visit http://www.chinanutrifruit.com.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as
amended, and Section 21E of the Securities Exchange Act of 1934, as
amended (the "Exchange Act""). Such statements include, among
others, those concerning our expected financial performance in
fiscal year 2012, new products, our new facility, our estimates
about sodium levels, and its expected impact on the Company's
business and financial performance, our expectations regarding the
market for our existing products and new products, our expected
financial performance and strategic and operational plans, as well
as all assumptions, expectations, predictions, intentions or
beliefs about future events. You are cautioned that any such
forward-looking statements are not guarantees of future performance
and that a number of risks and uncertainties could cause actual
results of the Company to differ materially from those anticipated,
expressed or implied in the forward-looking statements. The words
"believe," "expect," "anticipate," "project," "targets,"
"optimistic," "intend," "aim," "will" or similar expressions are
intended to identify forward-looking statements. All statements
other than statements of historical fact are statements that could
be deemed forward-looking statements. Risks and uncertainties that
could cause actual results to differ materially from those
anticipated include risks related to new and existing products; any
projections of sales, earnings, revenue, margins or other financial
items; any statements of the plans, strategies and objectives of
management for future operations; any statements regarding future
economic conditions or performance; uncertainties related to
conducting business in China; any
statements of belief or intention; any of the factors mentioned in
the "Risk Factors" section of our Annual Report on Form 10-K for
the year ended March 31, 2011, and
other risks and uncertainties mentioned in our other reports filed
with the Securities and Exchange Commission. The Company assumes no
obligation and does not intend to update any forward-looking
statements, except as required by law.
Company Contact:
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Investor Relations
Contact:
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Mr. Colman Cheng, Chief
Financial Officer
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Elaine Ketchmere
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China Nutrifruit Group
Limited
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CCG Investor
Relations
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Tel:+ 852 9039
8111
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Tel: +1-310-954-1345 (LA
office)
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Email: zsj@chinanutrifruit.com
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Email: elaine.ketchmere@ccgir.com
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Website: www.chinanutrifruit.com
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Website: www.ccgirasia.com
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Mr. Crocker Coulson,
President
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Tel: +1-646-213-1915 (NY
office)
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Email: crocker.coulson@ccgir.com
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SOURCE China Nutrifruit Group Limited