PME - Pingtan Marine rallies on reporting 100% increase in revenue guidance for FY 2021

Pingtan Marine Enterprise (PME) currently operates a fishing fleet of 92 vessels, including 89 harvesting vessels and 3 refrigerated transport vessels, with a total gross tonnage of over 0.11M.The Co. estimates that the revenue for the full FY 2020 would be ~$85M. Previously in Dec. 2020, the Co. announced the approval of modification and rebuilding for 20 inactive vessels and upon the completion, the number of active harvesting vessels will reach 109 by the end of 2021.Given the above, the Co. expects the revenue for the full FY 2021 to increase by 100% or higher. "There is a lot of positive inertia in our business right now and the demand in China is increasingly great for our catches." said Mr. Xinrong Zhuo, Chairman and CEO. PME +16.67% PM to $2.17.

For further details see:

Pingtan Marine rallies on reporting 100% increase in revenue guidance for FY 2021