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Stock Alert: China Xiangtai Food Gains 10%

Shares of China Xiangtai Food Co., Ltd. (PLIN), primarily engaged in pork processing in China, are climbing more than 10% Friday morning.

Chongqing Jinghuangtai Enterprise Management Consulting Co., Ltd., a unit of China Xiangtai Food Co., Ltd. today said it agreed to buy 51% stake in privately held feed formula solutions provider Chongqing Ji Mao Cang Feed Co., Ltd. (JMC).

With JMC had revenue of $102.55 million in 2019, PLIN expects to increase its revenue by 70% annually.

PLIN stock is currently trading at $2.03. It has traded in the range of $1.11- $6 in the last 52-weeks.

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