China: Pingtan Demonstrates Compliance with Nasdaq’s Listing Requirements

Pingtan Marine Enterprise Ltd., an integrated marine services company providing territorial sea fishing and dredging services in the People’s Republic of China (PRC), today announced that the Company received a letter from the Nasdaq Listing Qualifications Panel (the “Panel”) stating that it has concluded that the Company has demonstrated compliance with all applicable listing requirements.

Accordingly, the listing review has been closed.

Pingtan’s Chairman and CEO, Mr. Xinrong Zhou, stated, “We are very pleased with the recent ruling by Nasdaq and are focused on increasing shareholder value by continuing to grow our business, delivering profitable results, and generating free cash flow. We look forward to keeping all investors apprised of our progress.”

About Pingtan

Pingtan is a marine enterprises group, engaging in dredging services and ocean fishing through two wholly-owned subsidiaries, China Dredging Group, or CDGC, and Merchant Supreme, and their respective PRC operating subsidiaries, Fujian Xing Gang Port Service Co., Ltd., or Fujian Service, PingTan XingYi Port Service Co., Ltd., or PingTan XingYi and Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd., or Pingtan Fishing.

Press Release, July 11, 2013

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3rd International Congress Hydraulic Engineering Structures and Dredging

Russia’s leading maritime industry Media Group PortNews (www.portnews.ru) holds a traditional annual Congress “Hydraulic Engineering Structures and Dredging” in Moscow. 

The two-day Congress includes the 7th International Forum of Dredging Companies and the 3rd Technical Conference “Modern Solutions for Hydraulic Engineering”.

Infrastructure development is among the real sources of Russia’s economy growth. Construction of port facilities and new hydraulic engineering structures on the country’s inland waterways constitute an essential part of all infrastructure projects. It is important to take into account the best international practices to implement these projects effectively.

The program of the Congress will be devoted to the latest technologies for dredging and hydraulic engineering works. Speakers and delegates will refer to real projects to discuss specifics features of dredging works, as well as dedicated fleet and equipment involved.

To learn more about event, please, contact the organizing committee: snitko@portnews.ru

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