China Tracker - Details for China Nutrifruit (CNGL)


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 China Nutrifruit
 Business Outlook

Recent Chain of Events:
2012-05-10 -- Last SEC Filing
2012-06-15 -- Delisting from NYSE Amex
2012-04-26 -- Trading halted by NYSE Amex
2012-02-14 -- Last Quarterly/Annual Report: Q3/FY2012 ended December 31, 2011

(Source: Trading China, 2012-09-30)

We remain confident in our ability to achieve our financial guidance for fiscal year 2012, with revenue of approximately $110 million to $113 million and net income of approximately $29 million to $30 million.

(Source: PR Newswire, 2011-08-15)

We expect the technological upgrades combined with the new product introductions to favorably contribute to our fiscal year 2012 results and are confident in our ability to achieve our projected revenue of approximately $110 million to $113 million and net income of approximately $29 million to $30 million in fiscal year 2012.

(Source: PR Newswire, 2011-07-27)

China Nutrifruit Group today announced that it has filed an application with the Securities and Exchange Commission to withdraw its registration statement for a proposed offering of 73,000,000 units of Taiwan Depositary Receipt, representing 7,300,000 shares of the Company's common stock. The Company also withdrew its application for listing the TDRs on the Taiwan Stock Exchange. "After careful considerations, we have decided not to pursue the TDR listing due to uncertainties in the global capital markets. We believe it is in our shareholders' best interest to withdraw the application given the current market volatility."

(Source: PR Newswire, 2011-06-23)

For fiscal year 2012, the Company expects to generate revenue of approximately $110 million to $113 million and net income of approximately $29 million to $30 million. "Looking into fiscal 2012, we continue to see strong demand for our high quality products backed by strong customer loyalty and an increasingly health-conscious environment. We are on track to commence production of our fruit and vegetable powder products in July 2011. In addition, we are excited about our strong product pipeline, including cherry tomato glazed fruit, dried fruit products and concentrate paste products, which will be supported by our capacity expansion plans. We will be leveraging our existing nationwide sales and distribution network throughout 18 provinces in China to market our new products and hold a positive outlook. With our proven business model, strong execution capability, new product initiatives, and capacity expansion, we believe we are well-positioned to achieve another year of record financial performance in fiscal 2012."

(Source: PR Newswire, 2011-06-22)

China Nutrifruit recently announced that due to difficult weather conditions, the Company decided to delay the final phase of equipment installation at its new fruit and vegetable powder facility until March 2011 and expects to commence trial production in June 2011. Despite the delay in the production schedule of new fruit and vegetable powder products, management expects no material impact to the Company's fiscal year 2011 financial results. The Company expects higher average selling prices of its products and increased production of the new glazed fruit products, including seabuckthorn and blackcurrant, coupled with strong demand across all product categories in the last quarter of the fiscal year, to offset the loss in expected revenue and net income from the new fruit and vegetable powder line for fiscal year 2011. Therefore, the Company reaffirms its financial guidance for fiscal year 2011 for revenue in the range of $90 million to $95 million and net income of $22 million to $23 million.

"The fourth fiscal quarter is typically our strongest quarter and we anticipate strong growth in sales volume driven by healthy consumer demand in the fourth quarter of fiscal 2011. We have seen a surge in orders from distributors during the Chinese New Year combined with a rise in average selling prices and therefore remain confident in our ability to meet our revenue and net income guidance for fiscal 2011. We recently entered into new supply contracts with Doehler Rizhao and Cargill Shanghai to supply our fruit concentrate juice products. Through Cargill Shanghai, our products will be distributed in Mongolia. We received positive feedback from these customers and remain optimistic that such small orders will lead to large scale supply contracts. Looking forward, we expect to further diversify our domestic customer base and add new international customers. Meanwhile, we are preparing to execute the final equipment installation stage of our fruit and vegetable powder product line and commence trial production in June 2011."

(Source: PR Newswire, 2011-02-14)

China Nutrifruit Group entered into a supply contract with Doehler Food and Beverage Ingredients (Rizhao) Co., Ltd. to supply 1,500 tons of its fruit concentrate products. Doehler Rizhao, a subsidiary of DoehlerGroup, is a global consumer brand which offers a variety of fruit concentrate juices, including apple, pear, strawberry and kiwi juice concentrates. "Our new supply contract with Doehler Rizhao marks an important milestone for China Nutrifruit as we diversify our customer base with the addition of a global consumer brand. Our products passed stringent testing criteria and we are currently performing the contract. We believe this demonstrates the high-quality and market acceptance of our premium specialty fruit products. We are encouraged by our co-operation with Doehler Rizhao and will continue to step up our marketing efforts to further expand our customer base. We anticipate increased sales contribution from international customers in fiscal year 2011 and are confident that our nutritious specialty products will be well received in both the domestic and international markets."

(Source: PR Newswire, 2011-01-24)

China Nutrifruit Group today announced that due to difficult weather conditions in Daqing, the Company has decided to delay the final equipment installation phase of its new fruit and vegetable powder production facility until March 2011. China Nutrifruit announced earlier that the Company expects to complete construction of its new fruit and vegetable powder facility and commence production in January 2011. However, weather conditions in Daqing continued to remain challenging in December 2010, with average temperatures falling 10 degrees lower than the same period in recent years. The Company's management team has decided to delay the final phase of equipment installation to ensure worker safety and avoid any injuries. The Company expects to resume the equipment installation progress in March 2011 and expects to commence trial production in June 2011.

Despite the delay in commencing production of its fruit and vegetable powder products, management expects that such delay will not materially affect its 2011 fiscal year financial results. The Company expects higher average selling prices of its products and increased production of the new glazed fruit products, including seabuckthorn and blackcurrant, to offset the loss in revenue and net income from the new fruit and vegetable powder line for fiscal year 2011. The Company also reaffirms its financial guidance for fiscal year 2011 for revenue in the range of $90-$95 million and net income of $22-$23 million.

"We are experiencing unusually cold weather in Daqing, which presents a challenge for our workers. The fruit and vegetable powder facility consists of a spray-tower which is approximately 60 meters in height and equipment installation at such height is adversely affected by extreme cold conditions. Worker safety is of primary importance to us and is also in the best interest of the Company. Therefore, we made a decision to temporarily discontinue equipment installation progress until March 2011. In fiscal year 2011, we benefited from increased average selling prices of our products and positive market demand for our new seabuckthorn and blackcurrant glazed fruit products introduced in September 2010. We believe these positive developments will enable us to meet our financial guidance. We also continue to hold a positive market outlook for our fruit and vegetable powder segment, which is expected to drive our revenue growth and profitability to the next level in fiscal year 2012."

(Source: PR Newswire, 2011-01-18)

China Nutrifruit Group today announced that it has filed a registration statement with the Securities and Exchange Commission for a proposed offering of 73,000,000 units of Taiwan Depositary Receipt (TDRs), representing 7,300,000 shares of the Company's common stock, of which 5,000,000 shares are expected to be offered by the Company and 2,300,000 shares are expected to be offered by the selling stockholder. The Company plans to apply for listing the TDRs on the Taiwan Stock Exchange. China Nutrifruit intends to use the net proceeds from this offering for construction of a second fruit and vegetable production line with an expected annual production capacity of 10,000 tons in Daqing and a new facility with a new multi-purpose concentrate juice/pulp production line in Mu Dan Jiang with an expected annual production capacity of 8,000 tons.

(Source: PR Newswire, 2010-12-20)

China Nutrifruit recently rescheduled the production start date of its new fruit and vegetable powder production facility due to the impact of adverse weather conditions on the facility's construction schedule. The Company now expects to commence production of its new fruit and vegetable powder products in January 2011. Management anticipates no material impact from the production delay to the Company's 2011 fiscal year financial results and reaffirms its financial guidance for fiscal year 2011 for revenue in the range of $90-$95 million and net income of $22-$23 million. "In the second half of fiscal year 2011, we anticipate our new fruit and vegetable powder line to contribute to our sales momentum. We are actively expanding our research efforts to introduce new fruit and vegetable powder products which will further diversify our product portfolio. Our growth strategy includes capacity expansion and increased market penetration to enhance our revenue growth and gain increased market share in China and in the overseas market."

(Source: PR Newswire, 2010-11-15)

Our new fruit and vegetable powder business will further diversify our product offering and offers exciting growth opportunities. We are on schedule to begin production in January 2011 and anticipate this segment to drive our future revenue and net income growth.

(Source: PR Newswire, 2010-11-08)

China Nutrifruit Group today announced that the Company has rescheduled the production start date of its new fruit and vegetable powder production facility due to the impact of adverse weather conditions on the facility's construction schedule. The Company now expects to commence production of its fruit and vegetable powder products by January 2011. China Nutrifruit originally planned to complete construction of its new fruit and vegetable powder facility and commence production in October 2010. However, the Company's construction schedule was negatively impacted by adverse weather conditions in Daqing, which experienced more than average rainfall in comparison to recent years. The Company noted that the impact of the production delay would be immaterial to its 2011 fiscal year financial results. Management reaffirms its financial guidance for fiscal year 2011 for revenue in the range of $90-$95 million and net income of $22-$23 million.

(Source: PR Newswire, 2010-10-25)

The Company affirms its financial guidance of $90-$95 million in revenue and $22-$23 million in net income for fiscal year 2011.

(Source: PR Newswire, 2010-08-16)

Based on Beijing Leadership Management Consulting Co. Ltd, in 2009, annual demand for fruit and vegetable powder recorded approximately 150,000 tons, while supply was merely about 100,000 tons. With demand likely to exceed supply, China Nutrifruit is well positioned to expand its product portfolio, leverage its production expertise and capitalize on market opportunities. We look forward to beginning production of our fruit and vegetable powder products in September 2010 and believe this segment will be a significant driver of our future revenue growth and profitability.

(Source: PR Newswire, 2010-07-20)

China Nutrifruit Group Limited today announced the Company's decision to cease production of its beverage products, effective immediately, and plans to utilize the additional space at its Daqing facility for production of its core high-margin products. "By exiting the beverage production business, we can now turn our full attention to producing our more profitable and high growth products. We will utilize the free space from the beverage lines to improve the efficiency of production lines for our high-margin glazed fruit products, positively impacting our overall gross margins."

(Source: PR Newswire, 2010-03-22)

The Company affirms previously issued fiscal 2010 and 2011 guidance. For FY 2010, the Company expects approximately $72.0 - $76.0 million in revenue and $18.5 million in net income, excluding non-cash stock compensation expenses. For FY 2011, the Company expects approximately $90-$95 million in revenue, and projected net income of approximately $22-$23 million.

(Source: PR Newswire, 2010-02-05)
CNGL
Food
SCORE
4
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SAFETY/RISK SCORE
HIGH RISK
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Current Price:  n/a
F10k Day (2009-08-13): -100.00%$3.90
2009 Close: -100.00%$4.26
2010 Close: -100.00%$2.79
2011 Close: -100.00%$0.76
High (2012-02-01): -100.00%$0.60
Low (2012-07-13): -100.00%$0.01
Exchange:
Market Capitalization: n/a
Total Shares: 40.38 mill
Float: n/a
Avg Volume: 46.10 k
Short Interest: 10.20 k
Short Ratio: 0.06%0.2 d
Last Quarter: 2010-12-31
Revenue (MRQ): 22.14 mill
Net Income (MRQ): 6.24 mill
Op. Cash Flow (MRQ): 16.95 mill
all financial data provided without warranty