Pingtan Marine Enterprise (PME) Swings to Q1 Loss

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Go back to Pingtan Marine Enterprise (PME) Swings to Q1 Loss

Pingtan Marine Enterprise Reports Financial Results for the First Quarter Ended March 31, 2016

May 10, 2016 4:06 PM EDT

FUZHOU, China, May 10, 2016 /PRNewswire/ -- Pingtan Marine Enterprise Ltd. (Nasdaq: PME), ("Pingtan," or the "Company") a global fishing company based in the People's Republic of China (PRC), today announced its unaudited financial results the first quarter ended March 31, 2016.

Factors Affecting Pingtan's Results of Operation

As previously disclosed in Form 10-K and 10-Q the Company filed in 2015, in early December 2014 the Indonesian government introduced a six-month moratorium on issuing new fishing licenses and renewals so that the country's Ministry of Maritime Affairs and Fisheries... More