Money Runners

[christiane]

China Marine Food Group
CMFO : $ 0.48


Shares Outstanding:29.72M
Float:12.97M

US snack food firm China Marine Food Group saw its losses narrow in the first half despite falling sales.
The company reported a net loss of US$2.5m in the six months to the end of June, compared to a net loss of $3.7m in the prior year period.
Lower operating costs helped China Marine's bottom line. Net revenues dropped to $48.8m from $76.4m a year earlier.
Sales of China Marine's seafood snacks and algae-based drinks were up. However, marine catch revenues fell amid lower selling prices, which led the company to hold back stock for higher prices in the third and fourth quarters.
CEO Pengfei Liu said the performance suffered from a slowdown of consumer demand in China.
However, he added: "Based on feedback from our distributors and our continued efforts to keep our brand and products in front of consumers, we expect that the second half of the year will continue to improve."

They bought one week to early:
PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C.
http://ih.advfn.com/p.php?pid=nmona&article=58846668
06/30/2013: http://www.nasdaq.com/symbol/cmfo/institutional-holdings/increased
And are still buying: http://ih.advfn.com/p.php?pid=nmona&article=58876116

This month:
Historical Prices
Date Open High Low Close Volume
2013/08/22 0.49 0.50 0.47 0.48 254,283
2013/08/21 0.49 0.50 0.45 0.46 71,510
2013/08/20 0.54 0.54 0.48 0.49 188,156
2013/08/19 0.52 0.54 0.50 0.53 244,080
2013/08/16 0.47 0.54 0.46 0.52 348,322
2013/08/15 0.74 0.74 0.42 0.45 1,048,403
2013/08/14 0.82 0.85 0.79 0.80 57,835
2013/08/13 0.82 0.82 0.80 0.81 90,586
2013/08/12 0.81 0.82 0.81 0.82 37,620
2013/08/09 0.82 0.82 0.80 0.81 23,037
2013/08/08 0.81 0.82 0.79 0.79 67,656
2013/08/07 0.84 0.84 0.79 0.80 63,946
2013/08/06 0.85 0.88 0.84 0.88 477,650 PRESCOTT GROUP CAPITAL MANAGEMENT, L.L.C.
2013/08/05 0.81 0.90 0.81 0.89 46,047
2013/08/02 0.82 0.85 0.79 0.81 36,629 0.81
2013/08/01 0.88 0.88 0.78 0.80 62,151 0.80

China Marine Food Group Limited, incorporated on October 1, 1999, is engaged in the business of processing, distribution and sale of processed seafood-based snack foods, as well as the sale of fresh and frozen marine catch. The Company is a holding company whose primary business operations are conducted through its direct, wholly owned subsidiary, Ocean Technology (China) Company Limited (Ocean Technology) and its subsidiaries, Shishi Rixiang Marine Food Co., Ltd. (Rixiang), Shishi Huabao Jixiang Water Products Co., Ltd.(Jixiang), Shishi Huabao Mingxiang Foods Co., Ltd. (Mingxiang) and Shishi Xianglin Trading Co., Ltd. (Xianglin). The Company's products are can be divided into three categories: processed seafood products, marine catch and Hi-Power algae-based beverage product. The Company manufactures algae-based soft drinks through Shishi Xianghe Food Science and Technology Co., Ltd. (Xianghe), which is an operating subsidiary of Ocean Technology.
The Company's dried and flavored seafood-based snack foods are predominantly sold under the brand name Mingxiang. As of December 31, 2011, these products are sold to 18 exclusive distributors in five provinces in the People’s Republic of China, including Fujian, Guangdong, Shandong, Zhejiang and Liaoning in turn sub-distributed to about 3,200 retail points in the PRC (including supermarkets and retailers such as Wal-Mart and Carrefour) throughout these provinces. The Company's marine catch is sold to trading companies and distributors in Fujian, Shandong and Liaoning provinces, and overseas customers in the Philippines and Indonesia.
Processed Seafood Products
The processed seafood products include roasted file fish, shredded roasted squid, roasted squid, roasted prawn, barbecued squid, sliced barbecued squid, sliced roasted octopus, spicy sliced octopus, spicy baby squid, spicy sliced squid, spicy squid head. The Company purchases fresh seafood, the primary ingredient from which its dried processed seafood products are manufactured, from fishermen and traders.
Marine Catch
The Company is engaged in the sale of marine catch. The principal species of marine catch sold by the Company include Cuttlefish, Hairtail Fish, Japanese Butter Fish and Squid.
Hi-Power Algae-Based Beverage Product
Its Hi-Power Algae-Based Beverage Product products are produced by two manufacturers. The algae-based beverage products are sold to seven exclusive distributors and in turn sub-distributed to about 15,000 retail points in Fujian and Zhejiang provinces.
The Company competes with China Aquatic Zhoushan Marine Fisheries Corporation, Liaoning Dalian Seafood Industry Group Co., Ltd., Fujian Seafood Industry Co., Ltd and Fujian Huayang Aquatic Products Group Co., Ltd.
http://www.china-marine.cn/eng/