Shareholders Increase Stakes in Fufeng to Cast Vote of Confidence

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Fufeng Group Limited

Sep 01, 2010, 02:57 ET

HONG KONG, Sept. 1 /PRNewswire-Asia/ -- Fufeng Group Limited ("Fufeng" or "the Company", together with its subsidiaries collectively known as "the Group"; stock code: 546), a leading vertically integrated manufacturer of corn-based biochemical products in China, announced today that our substantial shareholder, Chairman, Mr. Li Xuechun has increased his position in Fufeng to cast his vote of confidence towards the Group's business development and prospects.

Mr. Li Xuechun has purchased an additional 3 million shares at an average price of HK$4.92 per share on 30 August and 31 August 2010, with total consideration of approximately HK$14.75 million. Effective equity interest of Mr. Li has increased to 47.59% from the original 47.41%.

Commenting on the increase in equity stake, Mr. Li Xuechun said, "We are very confident of the development of the MSG industry in China and hold positive outlook to Fufeng's future development. Being China's largest MSG manufacturer, we've been a trendsetter in the China MSG industry and enjoyed rapid growth along with industry development. With the robust economic development in China, the demand for high quality down apparel with unique designs has been rising. Our reputable brand, coupled with our superior design, put us in a perfect position to capitalize on opportunities in this fast growing market. Share price of Fufeng has dropped down due to the uncertainty stock market recently, thus cannot fully reflected the value of the company. Aiming to seize market opportunities and enhance shareholder value, I have casted a vote of confidence through the action of increase my own share stake to generate more satisfactory returns for our shareholders and general investors."

About Fufeng Group Limited

Fufeng is one of the leading vertically integrated manufacturers of corn-based biochemical products principally utilising fermentation technology in China, and mainly engaged in MSG related products and xanthan gum production. MSG segment includes production of MSG, chicken powder, corn oil, glutamic acid, fertilisers, corn refined products and sweeteners. Fufeng is the largest MSG and xanthan gum manufacturer in the world. You might visit the Company website for more details: http://www.fufeng-group.com/

    Porda International (Finance) PR Company Limited

     Alman Loong
     Tel:   +852-3150-6731
     Email: [email protected]

     Fiona Ko
     Tel:   +852-3150-6750
     Email: [email protected]

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SOURCE Fufeng Group Limited

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