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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."
Contact:
Wonderful Sky Financial Group Limited
Katy Chan/Yolanda Wang/Melody Wang/Sharon Lau
Tel: (852) 2851 1038
Fax: (852) 2815 1352
Email: katychan@wsfg.hk/yolandawang@wsfg.hk/melodywang@wsfg.hk/sharonlau@wsfg.hk
Topic: Stock--buying or selling
Source: Chiho-Tiande Group Limited
Sectors: Daily Finance
http://www.acnnewswire.com
From the Asia Corporate News Network
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