Pingtan Marine Enterprise Ltd. (NASDAQ:PME) Q3 2019 Earnings Conference Call - Final Transcript

Nov 12, 2019 • 08:30 am ET

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Pingtan Marine Enterprise Ltd. (NASDAQ:PME) Q3 2019 Earnings Conference Call - Final Transcript

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Presentation
Operator
Operator

Greetings and welcome to the Pingtan Marine Enterprise Third Quarter 2019 Earnings Conference Call. At this time, all participants are in a listen-only mode. (Operator Instructions)

And as a reminder, this conference is being recorded. And it is now my pleasure to introduce your host, Jay Zhou. Thank you. You may begin.

Analyst
Unidentified Participant

(Foreign Language)

Operator
Operator

Please go ahead, sir.

Analyst
Unidentified Participant

Okay. Thank you, Jesse, and good morning, everyone. Thank you for joining us. (Foreign Language) Copies of the press release announcing the 2019 third quarter and nine months financial results are

available on Pingtan Marine's website at www.ptmarine.com. (Foreign Language) You are also welcome

to contact us by e-mail to PTmarine@pure-rock.com, and we would be happy to send you a copy. In

addition, this broadcast will be made available at Pingtan Marine's website.

(Foreign Language)Before we get started, I would like to remind everyone that this conference call and any accompanying information discussed herein contains certain forward-looking statements within the meaning of the safe harbor provision of the Private Securities Litigation Reform Act of 1995. (Foreign Language)Investors are cautioned that such forward-looking statements involve risks and uncertainties that may affect Pingtan Marine's business and the prospects and the results of operations. Such risks are fully detailed in Pingtan Marine's filings with the Securities and Exchange Commission. (Foreign Language) I now like to take a moment to outline the format for today's call. In order to take care of all conference call participants, this call will be conducted in both English and Chinese.

First of all, the company's Chairman

Analyst
Unidentified Participant

and CEO, Mr. Xinrong Zhuo, will read a prepared opening statement in Mandarin, which I will then read in English. I will then turn the conference call to Mr. Roy Yu, Pingtan Marine's CFO, who will continue with the presentation. When he is finished, we will open the floor for questions. (Foreign Language)For the question-and-answer session, please allow us a moment to translate the questions, and then we will respond to everyone on the call, in both English and Chinese. (Foreign Language)

With that, I turn the call over to Pingtan Marine's Chairman and CEO, Mr. Xinrong Zhuo. Please welcome Mr. Zhuo. (Foreign Language)

Executive
Xinrong Zhuo

(Foreign Language)Ladies and gentlemen, good morning. Thank you all for joining Pingtan Marine's 2019 third quarter and nine months earnings call. (Foreign Language) Since the beginning of 2018, the company started deploying rebuilt new vessels into operation in several groups, and we have experienced a steady growth of sales volume and saw an increase in sales volume for the third quarter of 2019 as compared to the same period of 2018.

(Foreign Language)