Zhongpin Inc. HOGS 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.
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