Replies to post #6488 on Redwood Group International (RDWD)

[Myth]

Take a look at Zhongpin Inc, a competitor of Chumings, this market is booming in China. November 12, 2007 - 6:00 AM EST











Zhongpin Inc. Reports Third Quarter 2007 Results
-- Revenues climb 111% year-over-year to a record $71.3 million
-- Net income surged 331% year-over-year to a record $5.9 million

CHANGGE CITY, China, Nov. 12 /Xinhua-PRNewswire-FirstCall/ -- Zhongpin Inc. (OTC Bulletin Board: ZHNP), a leading meat and food processing company in the People's Republic of China ('PRC'), today reported financial results for the third quarter ended September 30, 2007.

Q3 2007 Highlights
-- Revenues more than doubled year-over-year to a record $71.3 million
-- Gross profit increased 87.6% to $9.7 million
-- Net income was a record $5.9 million, or $0.25 per fully diluted share,
up 122.8% after eliminating the effect of penalty expenses in the year
ago period
-- Two new processing facilities were added with a total of 116,000 metric
tons of capacity
-- 39 new retail outlets were added, bringing the total number of retail
outlets to 2,902