HONG KONG, Nov 17, 2011 - (ACN Newswire) - CHIHO-TIANDE Group Limited ("Chiho-Tiande" or the "Company", together with its subsidiaries, "the Group", Stock code:976) announced that the Company's Chairman Mr. Fang Ankong has again, purchased 18 million shares of the Company in the open market from 15 November to 16 November 2011 and the holding has increased to 41.636%. Chairman Mr. Fang has already increased 4.56 million and 1.52 million at 6 May to 13 May and 22 June respectively within the year. The main reasons for the increase of shares are the vote of confidence in the value and prospect of the Group.
In the "Twelfth Five Year Plan", the development of metal recycling industry is listed as one of the national key projects in the future. Chiho-Tiande specializes in importing motor scraps for recycling and processing copper scraps and is the leading scrap metal recycler. From a global perspective, the growing demand for copper scraps and increasing proportion of recycled copper scraps in copper production is highly conducive to Chiho-Tiande given its stable procurement network and comprehensive facilities. Mr. Fang expressed, "We will seize rising market opportunities at the back of the Chinese Government's 12th Five-Year Plan, in order to enhance profitability and to maximize returns to shareholders."
About Chiho-Tiande Group Limited
Chiho-Tiande Group Limited is a global leading mixed metal scrap recycler, specializing in recycling, disassembling and processing of mixed metal scrap and reuse of resources. Its three major business areas are metal recycling, foundry production and wholesale. The Group is the largest mixed metal scrap recycler in China in terms of the total import volume and the actual import volume of mixed metal scrap approved by the Ministry of Environmental Protection, and also the largest importer of mixed metal scrap for importing, recycling, reusing and processing. USUM Investment Group Hong Kong Limited, indirectly owned by Mr. Tu Jianhua, is the single largest shareholder of Chiho-Tiande.
For more information, please visit http://www.chiho-tiande.com/
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Tel: (852) 2851 1038
Fax: (852) 2815 1352
Nov 17, 2011 12:22 HKT/SGT
Source: Chiho-Tiande Group Limited
Topic: Stock--buying or selling
Sectors: Daily Finance
From the Asia Corporate News Network
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