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Food & Beverage: China Marine Sales Hit $2.8 Mil

June 12, 2010 (FinancialWire) (Go to for all of today’s featured news.) — China Marine Food Group Ltd. (AMEX: CMFO), a maker of seafood-based snack foods and algae-based beverages, and a distributor of frozen marine catch,  said that sales of its Hi-Power marine algae-based beverages hit $2.8 million for the first three months of 2010 ended March 30. Hi-Power also has forecast $20 million for the full year 2010. The company acquired the brand in January 1, and said it has focused on market research and analysis to improve product packaging before launching Hi-Power under its Mingxiang brand.

During the first quarter of 2010, China Marine said it began an advertising, marketing and promotional campaign that resulted in several stocking orders from distributors in Fujian Province, the initial targeted market.

The company said that each distributor who ordered Hi-Power has re-ordered during the first two months of the second quarter. Distributors in Guangzhou and Shanghai have placed initial stocking orders in addition to several of China Marine's food distributors who have added Hi-Power beverages to their stocking orders.

Year to date and through May 31, China Marine has recorded around $4.9 million in sales of Hi-Power. The company also stated that May 2010 sales increased by around 20% versus April 2010.

China-based China Marine Food Group is a food and beverage manufacturer of Mingxiang seafood-based snack foods, "Hi-Power" marine algae-based health drinks, and a wholesaler of frozen marine catch in seven provinces in the PRC.

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