ORLANDO, Fla., April 14, 2008 (PRIME NEWSWIRE) -- RedChip Independent, a division of RedChip Companies, Inc., today announced that it has issued a fourth quarter 2007 research update for Zhongpin, Inc. (Nasdaq:HOGS).
Matthew Kantrowitz, MBA, RedChip Research Analyst, reported:
"HOGS exceeded our revenue and earnings projections in 2007, driven by growing demand for prepared meat products and the Company's expanding retail footprint amid China's continuing transition from wet markets to supermarkets. We expect gross margin to continue to improve as the Company optimizes their product mix and expands their line of prepared meat products."
"HOGS is benefiting from greater consumption and a higher standard of living among Chinese citizens. However, China's high inflation rate and the rising cost of raw materials remain a growing concern," Kantrowitz continued.
"We maintain our 'Buy' rating and believe HOGS will continue to experience impressive revenue and earnings growth as new processing facilities are brought online, customer mix is adjusted, and the Company broadens its brand awareness," Kantrowitz concluded.
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Disclosure:
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