Great China International, Inc. Announces Investment into Agricultural Joint-Venture and Entry into Emerging-Growth Functional Foods Sector
Company Partners with SAAT, a Producer and Distributor of Macadamia Nuts in China and Overseas
SALT LAKE CITY, May 26, 2016 /PRNewswire/ -- Great China International, Inc. (Ticker: GCIH), a leading developer and real estate manager in China, announced its investment into Sino-Australian Agricultural Technology (SAAT), www.ynnut.com, an agricultural developer in China and a vertically integrated nut and health food company with core capabilities across macadamia planting, grafting, management, processing, sales and marketing. Great China International has invested RMB ￥37.5 million, or approximately USD $5.8 million, for an 11.12% interest in SAAT.
Located in Jiangcheng county in the Yunnan Province, SAAT was founded in 2014 and has the world's largest contiguous macadamia nut monomer base, with the ability to cultivate over 2,470 acres of land. In 2015, SAAT's nurseries produced and sold over 600,000 grafted macadamia seedlings. From 2014 to 2015, SAAT grew sales by over 75%, from 4.6 million RMB in 2014 to 8.0 million RMB, or from $733,000 USD to $1.2 million USD.
"The investment into SAAT represents yet another important achievement for the Company as we continue to strengthen our presence within the healthy and functional foods marketplace through strategic joint ventures and acquisitions," said Frank Jiang, CEO, Great China International, Inc. "This acquisition opens the door for new and exciting partnerships both within China and internationally for unique brands and products with macadamia nuts. We believe it is a great foundation from which to bring long-term value to our shareholders. We are looking forward to building our position in SAAT over the next few years."
About Great China International, Inc.
Great China International's primary Chinese subsidiary was founded in 1989, and has been involved in various businesses from entertainment to real estate development, and from agricultural plantation to R&D of biotechnology. For more information, please go to http://hhbiotechnology.com.
Safe Harbor for Forward-looking Statements:
This news release may contain forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. For a more complete discussion of such risks and uncertainties, please refer to the company's filings with the Securities and Exchange Commission.
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SOURCE Great China International, Inc.
