Hong Kong, Aug 26, 2011 (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%.
Fufeng Group (HKG:0546), the world's largest MSG and xanthan gum producer and supplier, uses fermentation technology to produce biochemical products. Its major products include MSG and xanthan gum products. Fufeng also produces fertilisers, corn refined products, starch sweeteners and amino acid products. For further information, please visit the Company website: www.fufeng-group.com .
Contact
Carine Wong Investor Relations Assistant Manager Fufeng Group Limited Tel: +852-3185-0300 Email: carinewong@fufeng-group.com.hk http://www.fufeng-group.com
HKG:0546) (
Fufeng Group Limited
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