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NEWS RELEASE
CHINA KANGDA ENTERED INTO A MEMORANDUM OF UNDERSTANDING WITH
BEST FOOD SERVICES INC. (恒泰集团), TO SUPPLY ONION RINGS PRODUCTS
恒泰集团), TO SUPPLY ONION RINGS PRODUCTSSingapore, 11 October 2006 ? The Board of Directors of China Kangda Food Company
Limited (中国康大食品有限公司) (the ?Company?) is pleased to announce that the
Company, through its subsidiary, Qingdao Kangda Foods Co., Ltd has entered into a
Memorandum of Understanding with Best Food Services Inc. (恒泰集团), a United
States based distributor of food products, to supply onion rings products. Amongst the
customers of Best Food Services Inc. includes Burger King, one of the largest fast-food
chains in the United States.
The Company will invest approximately RMB14.0 million for the setting up of the onion
rings production facility and the purchase of production equipment manufactured in the
United States. This facility is expected to commence production in December 2006 and
will have an annual production capacity of 3,000 tons.
The capital investment required for the onion rings production facility will be funded out
from the IPO proceeds in accordance with the plans as set out in the Company?s
prospectus dated 28 September 2006.
The capital investment in the onion rings production facility is not expected to have a
material impact on the earnings per share and the net tangible assets per share of the
Group for the financial year ending 31 December 2006.
On behalf of the Board of Directors
Mr Gao Yanxu
Executive Director and CEO
11 October 2006
The Initial Public Offering of the Company is sponsored by CIMB-GK Securities Pte.
Ltd.
Limited (中国康大食品有限公司) (the ?Company?) is pleased to announce that the
Company, through its subsidiary, Qingdao Kangda Foods Co., Ltd has entered into a
Memorandum of Understanding with Best Food Services Inc. (恒泰集团), a United
States based distributor of food products, to supply onion rings products. Amongst the
customers of Best Food Services Inc. includes Burger King, one of the largest fast-food
chains in the United States.
The Company will invest approximately RMB14.0 million for the setting up of the onion
rings production facility and the purchase of production equipment manufactured in the
United States. This facility is expected to commence production in December 2006 and
will have an annual production capacity of 3,000 tons.
The capital investment required for the onion rings production facility will be funded out
from the IPO proceeds in accordance with the plans as set out in the Company?s
prospectus dated 28 September 2006.
The capital investment in the onion rings production facility is not expected to have a
material impact on the earnings per share and the net tangible assets per share of the
Group for the financial year ending 31 December 2006.
On behalf of the Board of Directors
Mr Gao Yanxu
Executive Director and CEO
11 October 2006
The Initial Public Offering of the Company is sponsored by CIMB-GK Securities Pte.
Ltd.
Company, through its subsidiary, Qingdao Kangda Foods Co., Ltd has entered into a
Memorandum of Understanding with Best Food Services Inc. (恒泰集团), a United
States based distributor of food products, to supply onion rings products. Amongst the
customers of Best Food Services Inc. includes Burger King, one of the largest fast-food
chains in the United States.
The Company will invest approximately RMB14.0 million for the setting up of the onion
rings production facility and the purchase of production equipment manufactured in the
United States. This facility is expected to commence production in December 2006 and
will have an annual production capacity of 3,000 tons.
The capital investment required for the onion rings production facility will be funded out
from the IPO proceeds in accordance with the plans as set out in the Company?s
prospectus dated 28 September 2006.
The capital investment in the onion rings production facility is not expected to have a
material impact on the earnings per share and the net tangible assets per share of the
Group for the financial year ending 31 December 2006.
On behalf of the Board of Directors
Mr Gao Yanxu
Executive Director and CEO
11 October 2006
The Initial Public Offering of the Company is sponsored by CIMB-GK Securities Pte.
Ltd.
States based distributor of food products, to supply onion rings products. Amongst the
customers of Best Food Services Inc. includes Burger King, one of the largest fast-food
chains in the United States.
The Company will invest approximately RMB14.0 million for the setting up of the onion
rings production facility and the purchase of production equipment manufactured in the
United States. This facility is expected to commence production in December 2006 and
will have an annual production capacity of 3,000 tons.
The capital investment required for the onion rings production facility will be funded out
from the IPO proceeds in accordance with the plans as set out in the Company?s
prospectus dated 28 September 2006.
The capital investment in the onion rings production facility is not expected to have a
material impact on the earnings per share and the net tangible assets per share of the
Group for the financial year ending 31 December 2006.
On behalf of the Board of Directors
Mr Gao Yanxu
Executive Director and CEO
11 October 2006
The Initial Public Offering of the Company is sponsored by CIMB-GK Securities Pte.
Ltd.
Page 2 of 2
About China Kangda Food Company Limited
Established in 1992, China Kangda is a diversified food processing group in the PRC
involved in the processing of a wide range of food types, including chicken, rabbit meat,
seafood, vegetables, soup ingredients and seasoning. The Group?s key products are
mainly processed food products as well as chilled and frozen chicken and rabbit meat
products.
Besides selling products under its own ?康大?, ?嘉府? & ?U 味? brand names, the Group
also acts as an OEM manufacturer of chicken-based cooked products, chestnuts,
instant soup and curry products for Japanese food corporations, including Nissin Food
Products Co., Ltd, Nomura Trading Co., Ltd, Shokuken Corporation, Asahimatsu Foods
Co., Ltd and Keio Sangyo Co., Ltd.
The Group currently distributes its wide range of products in 14 provinces and over 20
major cities in the PRC and exports to more than 20 countries including Japan, South
Korea, Hong Kong, Russia and certain countries in the European Union.
For FY2005, the Group reported a revenue of approximately RMB447.7 million and a
net profit of approximately RMB83.7 million. The compounded annual growth rate for
the Group?s revenue between FY2003 to FY2005 was approximately 69.7%.
For 1Q2006, the Group achieved revenue of approximately RMB87.2 million, up
approximately 4.2% from approximately RMB83.6 million in the previous corresponding
period. The Group reported a net profit of approximately RMB16.2 million, an increase
of approximately 13.2% from approximately RMB14.3 million in the previous
corresponding period.
also acts as an OEM manufacturer of chicken-based cooked products, chestnuts,
instant soup and curry products for Japanese food corporations, including Nissin Food
Products Co., Ltd, Nomura Trading Co., Ltd, Shokuken Corporation, Asahimatsu Foods
Co., Ltd and Keio Sangyo Co., Ltd.
The Group currently distributes its wide range of products in 14 provinces and over 20
major cities in the PRC and exports to more than 20 countries including Japan, South
Korea, Hong Kong, Russia and certain countries in the European Union.
For FY2005, the Group reported a revenue of approximately RMB447.7 million and a
net profit of approximately RMB83.7 million. The compounded annual growth rate for
the Group?s revenue between FY2003 to FY2005 was approximately 69.7%.
For 1Q2006, the Group achieved revenue of approximately RMB87.2 million, up
approximately 4.2% from approximately RMB83.6 million in the previous corresponding
period. The Group reported a net profit of approximately RMB16.2 million, an increase
of approximately 13.2% from approximately RMB14.3 million in the previous
corresponding period.
When did u get the call? maybe, we can still go in to buy tml. anywhere you have earn some profit oredic. remember to apply china bearing ipo next wk....
Hi,
I received a call from a friend, and he told me there is some funds who is interested in this share and seems like it is following the trend of Synear, any comments, I sold my lots at 0.635 siah !!!
Hi,
Don't mention, that is why this forum is for us or so call actual investor (not manipulator or people with private agenda or ulterior motives) to share our relevant info. And our main objectives is to make profit in a so call correct and legal and "Gentlemanly" honest way. Hope you make profits and by the way my baby girl is coming to 29 mths !
many thanks. appreciate ur help. i have a baby girl too. hope i can earn some milkpowder money. heeheee
Hi,
Sorry, my baby girl just press the Enter key. I did subscribe for the IPO and you better make it quick, it is closing in half hr time today.
As the content of NetResearch stated it is worth applying for this IPO, because it is price cheap at 0.23c with good PE. And the estimated 1st day trading is around 0.35 to 0.38 (if the report predicted accurately). So far their reports' hit rate is quite ok except Synear when they stated this is a STAGNAT stock thus I missed this Synear counter but other IPOs is accurate just like the China Kangda, so I find the S$30+ well spend for the report. Good Luck to you !!!
Hi,
As I mention in my post below, I got the report from NetReseach
hi knightrider,
i'm new here. what's ur view on plastform? can try or better not try?
thanks