Pingtan Marine Enterprise Ltd.
NASDAQ Capital MarketCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- Xinrong Zhuo
- Full Time Employees
- 2,356
- Sector
- Consumer Defensive
- Industry
- Agricultural Farm Products
- Address
- Zhongshan Building A Fuzhou People's Republic of China 350001
- IPO Date
- Jun 2, 2011
- CIK
- 0001517130
- Website
- ptmarine.com
- Similar Companies
- Business
- Pingtan Marine Enterprise Ltd. (PME) is a Cayman Islands-incorporated marine services company primarily engaged in ocean fishing and the provision of high-quality frozen seafood products through its principal operating subsidiary, Fujian Provincial Pingtan County Ocean Fishing Group Co., Ltd. (Pingtan Fishing). The company harvests a diverse range of fish species, including ribbon fish, red fish, sea catfish, seabream, shrimp, silver pomfret, seaperch, slender shad, sole fish, Spanish mackerel, croaker fish, squid, and threadfin, utilizing a fleet comprising squid jigging vessels, trawlers, seine vessels, drifters, longline fishing vessels, and refrigerated transport vessels operating in the Indian Exclusive Economic Zone, Indo-Pacific waters, Arafura Sea of Indonesia, and international waters of the Atlantic and Pacific Oceans. Established in 2011 following a business combination and name change from China Growth Equity Investment Ltd., PME is headquartered at 18-19/F, Zhongshan Building A, No. 154 Hudong Road, Fuzhou, Fujian Province, People's Republic of China, and sells its products to distributors, restaurant owners, and exporters primarily within China. In recent developments, the company faces ongoing U.S. Department of the Treasury sanctions imposed in December 2022 under the Global Magnitsky program for alleged serious human rights abuses linked to illegal, unreported, and unregulated fishing activities, resulting in the Nasdaq delisting of its shares in March 2023; additionally, since the sanctions, affiliated entities including Pingtan Fishing have transferred at least 22 vessels to the newly established Juchangtai network between January 2023 and August 2024, enabling operational continuity amid enforcement actions.
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