PINGTAN MARINE ENTERPRISE REPORTS FINANCIAL RESULTS FOR THE FOURTH QUARTER AND YEAR ENDED DECEMBER 31, 2021

Company to Hold Conference Call on Wednesday,May 18,2022,at 8:30 AM ET

FUZHOU,China,2022 --Pingtan Marine Enterprise Ltd. (Nasdaq: PME) ("Pingtan" or the "Company"),a fishing company based in the People's Republic of China (PRC),today announced financial results for its fourth quarter and fiscal yearended December 31,2021.

Fourth Quarter 2021 Financial Highlights (Year over Year Comparison)

Revenue was $62.8 million,representing a 102.5% year-over-year increase.

Gross loss was $7.4 million,compared to gross loss of $12.0 million,and gross loss margin was 11.8%,compared to gross loss margin of 38.7%.

Net income attributable to owners of the Company was $6.7 million,or $0.08 per basic and diluted share,compared to net loss attributable to owners of the Company of $79.7 million,or $(1.00) per basic and diluted share.

2021 Financial Highlights (Year over Year Comparison)

Revenue was $164.1 million,representing an 88.1% year-over-year increase.

Gross loss was $12.6 million,compared to gross loss of $2.4 million,and gross loss margin was 7.7%,compared to gross loss margin of 2.8%.

Net loss attributable to owners of the Company was $2.5 million,or $(0.03) per basic and diluted share,compared to net loss attributable to owners of the Company of $72.9 million,or $(0.92) per basic and diluted share.

Management Comments

Mr. Xinrong Zhuo,Chairman and CEO of the Company,commented,"In 2021,various businesses were challenged by the COVID-19 as it resurged from time to time in many localities across China throughout the year. Despite the overall difficulties,we were able to deliver an 88.1% increase in revenue and a 54.4% increase in sales volumes for 2021. However,due to the market downturn,the company recorded a decreased gross margin for the 2021 fiscal year,albeit a slightly increased gross profit margin in the second half of the year.

As such,the management believes that it is necessary to continue to strengthen the Company's production capacity and all aspects of product sales in the new year. Meanwhile,the management has decided to make certain strategic adjustments,including suspending the construction of the Antarctic krill vessel to recover funds,as well as expediting the modification and rebuilding progress of a new batch of fishing vessels to further increase harvest capacity and volume. The Company has also intensified its efforts to connect with large-scale distributors to improve the delivery speed through online-offline linkage,reduce frozen storage costs and selling expenses,and improve corporate efficiency."

Factors AffectingPingtan'sResults of Operations

COVID-19 pandemic

The COVID-19 pandemic has adversely affected the global economy,our markets in the PRC and our business.

In reaction to the pandemic,many provinces and municipalities in the PRC,where our business is currently conducted,activated the highest response to the emergency public health incident. Emergency quarantine measures and travel restrictions have had a significant impact on many sectors across China,which has also adversely affected the Company's operations. To reduce the impact on its production and operations,the Company has implemented a series of safety measures,and has resumed normal operations since March 2020. Management is focused on mitigating the impact of COVID-19 on its business operations while protecting the employees' health and safety. The Company will continue to actively monitor the situation and may take further actions that alter its business operations as may be required by local authorities or that the Company determines are in the best interests of its employees,customers,partners,suppliers and other stakeholders.

Some of the Company's customers are fish processing plants that export processed fish products to foreign countries. These customers reduced or postponed their purchases from us and adjusted their business strategies in relation to exportation or domestic sale in light of the development of the pandemic. These changes may cause a decrease in our unit selling price,an increase in inventory and delayed settlement of our accounts receivable. If the economic effects caused by the pandemic continue or increase in the PRC,overall customer demand may continue to decrease,which could have an adverse effect on our business,results of operations and financial condition.

The Companyanticipatesthat its results of operations will continue to be affected by this pandemic in fiscal year 2022,as the COVID-19 pandemic has continued to caused disruptions to domestic and global businesses and markets. However,the extent of the impact on the Company's financial condition and results of operations is still highly uncertain and will depend on future developments,such as the ultimate duration and scope of the pandemic,its continuing impact on our customers,how quickly normal economic conditions,operations,and the demand for the Company's products can fully resume and whether the pandemic leads to recessionary conditions in the PRC,the United States or globally. As such,the Company may not reasonably estimate the extent of the impact on its full-year results of operations,its liquidity or its overall financial position.

The Company's Fishing Fleet

As of December 31,2021,of the Company's 142vessels,100 were located in international waters,12 were located in the Bay of Bengal in India,13 were located in the PRC,and the remaining 17 were located in the Arafura Sea in Indonesia and not in operation.

Pingtan's Revenue Break-down By PRC Provincial Division

Year Ended December 31,

2021

2020

2019

Fujian province

50

%

68

%

66

%

Shandong province

29

%

24

%

28

%

Zhejiang province

9

%

7

%

4

%

Guangdong province

4

%

%

1

%

Liaoning province

3

%

%

%

Other areas

5

%

1

%

1

%

Total

100

%

100

%

100

%

2021 Selected Financial Highlights

($ in millions,except share and per share data)

Three Months ended

December 31,

YearsEnded

December 31,

2021

2020

2021

2020

2019

Revenue

$62.8

$31.0

$164.1

$87.2

$89.6

Cost of Revenue

$70.2

$43.0

$176.7

$89.7

$64.4

Gross (Loss) Profit

$ (7.4)

$(12.0)

$(12.6)

$(2.4)

$25.2

Gross (Loss) Profit Margin

(11.8)%

(38.7)%

(7.7)%

(2.8)%

28.1%

Net (Loss) Income

$7.3

$(85.2)

$(2.4)

$(77.6)

$6.4

Basic and Diluted Weighted Average Shares Outstanding

85.9

79.3

84.9

79.1

79.1

EPS (in $)

$0.08

$(1.00)

$(0.04)

$(0.92)

$0.07

Balance Sheet Highlights

As of December 31,

($ in millions,except for book value per share)

2021

2020

Cash and Cash Equivalents

$5.8

$0.7

Total Current Assets

$240.4

$114.2

Total Assets

$576.2

$463.5

Total Current Liabilities

$243.4

$133.4

Total Long-term bank loans-non-current

$240.7

$245.1

Total Liabilities

$484.1

$378.5

Shareholders' Equity

$92.1

$85.0

Total Liabilities and Shareholders' Equity

$576.2

$463.5

Book Value Per Share (in $)

$1.08

$1.07

Consolidated Financial and Operating Review

Revenue

The Company's revenue for the three months ended December 31,2021 was $62.8 million,as compared to $31.0 million for the same period of2020.

The Company's revenue was $164.1million in 2021,representing an increaseof88.1% from $87.2 million in 2020.

In 2021,the Company's sales volumes increased by54.4% to 129,993,532kg from 84,185,002 kg in 2020. The average unit selling price increased by 21.2% from 2020 to 2021. The increasein revenuewas mainly attributable to the different sales mix,an increase in the average unit selling price,and the increased sales volume as a result of more vessels were put intooperations.

Gross Margin

The Company's gross loss margin was11.8% for the three months ended December 31,as compared to gross loss margin of 38.7% for the same period of2020.

The Company's gross loss margin was 7.7% in 2021,as compared to gross loss marginof 2.8% in 2020.

Selling Expense

For the three months ended December 31,total selling expense was $2.5million,as compared to $1.6 million for the same period of2020.

In 2021,total selling expense was $7.6 million,as compared to $4.9million in 2020,representing an increase of 57.4%. The increase was primarily due to the increases in insurance fees,storage fees,customs clearance charges,shipping and handling fees,and miscellaneous selling expense.

General & Administrative Expense

For the three months ended December 31,general and administrative expense was $0.7 million,as compared to $2.0million for the same period of2020.

In 2021,total general and administrative expense was $6.8million,as compared to $7.2million in 2020,representing a decrease of 6.0%,primarily due to a decrease in depreciation expense,partially offset by an increase in professional fees due to the increases in accounting fees and legal fees.

Net Income/(Loss)

Net incomefor the three months ended December 31,2021 was $7.3million,as compared to net loss of $85.2million for the same period of 2020.

In 2021,net loss was $2.4 million,as compared to net loss of $77.6 million in 2020.

NetIncome/(Loss)Attributable to Ordinary Shareholders of the Company

Net income attributable to ordinary shareholders of the Companyfor the three months endedDecember 31,2021was $6.7million,or $0.08per basic and diluted share,as compared to net lossattributable to ordinary shareholders of the Company of $79.7million,or $(1.00)per basic and diluted share,for the same period of 2020.

Net loss attributable to ordinary shareholders of the Company in2021was $2.5million,or $(0.03)per basic and diluted share,as compared to net loss attributable to ordinary shareholders of the Company of $72.9million,or $(0.92) per basic and diluted share,in 2020.

Conference Call Details

Pingtan also announced that it will discuss financial results in a conference call on Wednesday,2022 – 8:30 a.m. ET (May 18,at 8:30 p.m. Beijing Time).

The dial-in numbers are:

Live Participant Dial-in (Toll Free):

877-407-0310

Live Participant Dial-in (International):

201-493-6786

To listen to the live webcast,please go to http://www.ptmarine.com and click on the conference call link at the top of the page or go to:https://event.choruscall.com/mediaframe/webcast.html?webcastid=XgNdUfYE.html.This webcast will be archived and accessible through the Company's website for approximately 30 days following the call.

About Pingtan

Pingtan is a fishing company that engages in ocean fishing through its subsidiary,Fujian Provincial Pingtan County Ocean Fishing Group Co.,Ltd.,or Pingtan Fishing.

Business Risks and Forward-Looking Statements

This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933,as amended and Section 21E of the Securities Exchange Act of 1934,as amended and the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical or current fact included in this press release are forward-looking statements,including but not limited to statements regarding Pingtan's business development,financial outlook,beliefs and expectations. Forward-looking statements include statements containing words such as "expect," "anticipate," "believe," "project," "will" and similar expressions intended to identify forward-looking statements. Although forward-looking statements reflect the good faith judgment of our management,such statements can only be based on facts and factors currently known by us. Consequently,forward-looking statements are inherently subject to risks and uncertainties and actual results and outcomes may differ materially from the results and outcomes discussed in or anticipated by the forward-looking statements. Risks includeanticipated growth and growth strategies; need for additional capital and the availability of financing; delays in deploying vessels; conducting fishing operations and locating or re-locating vessels,in foreign waters and related license requirements; actions taken by government regulators,such as the Indonesian moratorium,or reports or allegations of illegal activity by us,related parties or those with which we conduct business; our ability to successfully manage relationships with customers,distributors and other important relationships; technological changes; competition; demand for our products and services; operational,mechanical,climatic or other unanticipated issues; the deterioration of general economic conditions,whether internationally,nationally or in the local markets in which we operate;the impact of the coronavirus (COVID-19) on the Company's financial condition,business operations and liquidity; the impact of COVID-19 on our customers and distributors global or national health concerns,including the outbreak of pandemic or contagious diseases such as the COVID-19 pandemic; legislative or regulatory changes that may adversely affect our business; and other risk factors contained in Pingtan's SEC filings available at www.sec.gov,including Pingtan's most recent annual report on Form 10-K and quarterly reports on Form 10-Q. Readers are cautioned not to place undue reliance on any forward-looking statements,which speak only as of the date on which they are made. Pingtan undertakes no obligation to update or revise any forward-looking statements for any reason,except as required by law.

CONTACT:

LiMing Yung (Michael)

Chief Financial Officer

Pingtan Marine Enterprise Ltd.

Tel: +86 591 87271753

michaelyung@ptmarine.net

Maggie Li

Investor Relations Manager

Pingtan Marine Enterprise Ltd.

Tel: +86 591 8727 1753

mli@ptmarine.net

INVESTOR RELATIONS

PureRock Communications Limited

PTmarine@pure-rock.com

PINGTANMARINE ENTERPRISE LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED)

(IN U.S. DOLLARS)

For the threeMonthsEnded

December31,2021

December31,2020

REVENUE

$

62,807,077

$

31,022,204

COST OF REVENUE

70,194,063

43,019,999

GROSS PROFIT

(7,386,986)

(11,997,795)

OPERATING EXPENSES:

Selling

2,519,748

1,567,947

General and administrative

987,971

1,216,266

General and administrative-Depreciation

(310,673)

791,943

Subsidy

(561,642)

(881,465)

Impairment loss

4,830,150

67,713,324

Settlement of contract

(26,408,130)

-

Total Operating Expenses

(18,942,576)

70,015

INCOME FROM OPERATIONS

11,555,590

(82,405,810)

OTHER INCOME (EXPENSE):

Interest income

298,966

409,734

Interest expenses

(5,650,377)

(3,560,970)

Foreign currency transaction gain

1,047,466

204,687

Gain(Loss) from cost method investment

7,518

1,821

Gain(Loss) on equity method investment

57,081

195,044

Other expense

2,638

(477)

Total Other Expense,net

(4,236,708)

(2,750,161)

LOSS BEFORE INCOME TAXES

7,318,882

(85,155,971)

INCOME TAXES

1,749

-

NET INCOME (LOSS)

$

7,317,133

$

(85,971)

LESS: NET INCOME (LOSS) ATTRIBUTABLE TO THE NON-

CONTROLLING INTEREST

642,211

(5,499,859)

NET INCOME (LOSS) ATTRIBUTABLE TO OWNERS

OF THE COMPANY

$

6,674,922

$

(79,656,112)

COMPREHENSIVE INCOME:

NET INCOME/LOSS

7,133

(85,971)

OTHER COMPREHENSIVE INCOME (LOSS)

Unrealized foreign currency translation gain (loss)

(187,190)

3,310,552

TOTAL COMPREHENSIVE INCOME/LOSS

$

7,129,943

$

(81,845,419)

LESS: COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO

THE NON-CONTROLLING INTEREST

625,298

(5,170,963)

COMPREHENSIVE INCOME (LOSS)ATTRIBUTABLE TO

OWNERS OF THE COMPANY

$

6,504,645

$

(76,456)

NET INCOME (LOSS)PER ORDINARY SHARE ATTRIBUTABLE TO

OWNERS OF THE COMPNAY

Basic and diluted earnings per share

$

0.08

$

(1.00)

WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:

Basic and diluted

85,940,965

79,302,428

PINGTANMARINE ENTERPRISE LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME

(IN U.S. DOLLARS)

For the Years Ended December 31,

2021

2020

2019

REVENUE

$

164,083,044

$

87,240,420

$

89,622,156

COST OF REVENUE

176,724,581

89,661,883

64,396,571

GROSS (LOSS)/ PROFIT

(12,641,537)

(2,421,463)

25,225,585

OPERATING EXPENSE (INCOME):

Selling

7,632,730

4,850,044

2,715,599

General and administrative

5,892,080

4,091,729

4,163,873

General and administrative - depreciation

836,142

3,066,522

3,726,061

Government subsidy

(20,449,471)

(13,660,284)

(6,440,299)

Impairment loss

6,301,373

67,324

7,951,635

Settlement of contract

(26,130)

-

-

(Gain) on fixed assets disposal

-

-

(59,432)

Total Operating (Income) Expense,Net

(26,195,276)

66,061,335

12,057,437

INCOME (LOSS) FROM OPERATIONS

13,553,739

(68,482,798)

13,168,148

OTHER INCOME (EXPENSE):

Interest income

371,695

3,745,611

780,604

Interest (expense)

(17,371,089)

(13,432,919)

(6,055,310)

Foreign currency transaction gain (loss)

1,231,614

607,674

(298,304)

Dividend income from cost method investment

612,734

135,338

312,727

(Loss) on the interest sold

-

-

(86,603)

(Loss) on equity method investment

(708,020)

(156,085)

(486,803)

Other (expense)

(74,223)

(35,401)

(954,394)

Total Other Expense,net

(15,937,289)

(9,135,782)

(6,788,083)

(LOSS) INCOME BEFORE INCOME TAXES

(2,383,550)

(77,618,580)

6,380,065

INCOME TAXES

1,749

-

-

NET (LOSS) INCOME

(2,385,299)

(77,065

LESS: NET (LOSS) INCOME ATTRIBUTABLE TO NON-CONTROLLING INTEREST

95,420

(4,740,332)

698,041

NET (LOSS) INCOME ATTRIBUTABLE TO OWNERS OF THE COMPANY

(2,480,719)

(72,878,248)

5,682,024

LESS: PREFERRED DIVIDENDS

(640,922)

NET (LOSS) INCOME ATTRIBUTABLE TO ORDINARY

SHAREHOLDERS OF THE COMPANY

$

(3,121,641)

$

(72,248)

$

5,024

COMPREHENSIVE (LOSS) INCOME:

NET (LOSS) INCOME

$

(2,299)

$

(77,580)

$

6,065

OTHER COMPREHENSIVE (LOSS) INCOME

Unrealized foreign currency translation gain (loss)

2,895,972

7,156,773

(2,861,319)

COMPREHENSIVE INCOME (LOSS)

510,673

(70,461,807)

3,518,746

Less: comprehensiveincome (loss) attributable to the non-controlling interest

342,401

(4,095,594)

469,583

COMPREHENSIVE INCOME (LOSS) ATTRIBUTABLE TO OWNERS OF THE COMPANY

$

168,272

$

(66,366,213)

$

3,049,163

NET (LOSS) INCOME PER ORDINARY SHARE;

Basic and diluted

$

(0.03)

$

(0.92)

$

0.07

WEIGHTED AVERAGE ORDINARY SHARES OUTSTANDING:

Basic and diluted

84,906,368

79,471

79,053

PINGTANMARINE ENTERPRISE LTD. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(IN U.S. DOLLARS)

December 31,

2021

2020

ASSETS

CURRENT ASSETS:

Cash

$

5,789,508

$

691,933

Restricted cash

14,831,138

9,912,666

Accounts receivable,net of allowance for doubtful accounts

26,827

31,946,561

Accounts receivable-related parties

5,857

-

Inventories,net of reserve

54,969,973

67,611,136

Prepaid expenses

18,559,252

170,706

Prepaid expenses-related party

-

2,015,357

Other receivables

113,765,721

1,901,094

Total Current Assets

240,438,276

114,249,453

OTHER ASSETS:

Cost method investment

3,293,756

3,218,440

Equity method investment

29,764

29,689,813

Prepayment for long-term assets

30,114,340

66,041

Right-of-use asset

465,016

64,220

Property,plant and equipment,net

272,346

250,011

Total Other Assets

335,797,222

349,210,525

Total Assets

$

576,235,498

$

463,459,978

LIABILITIES AND SHAREHOLDERS' EQUITY

CURRENT LIABILITIES:

Accounts payable

$

54,153,711

$

18,792,983

Accounts payable - related parties

4,960,300

9,966,708

Short-term bank loans

72,305,786

52,414,596

Long-term bank loans - current

76,856,590

39,987,577

Accrued liabilities and other payables

27,531,333

12,151,633

Lease liabilities- current

400,557

32,349

Due to related parties

7,175,988

18,354

Total Current Liabilities

243,384,265

133,364,200

OTHER LIABILITIES:

Lease liabilities

32,161

-

Long-term bank loans - non-current

240,729,193

245,116,088

Total Liabilities

484,145,619

378,288

COMMITMENTS AND CONTINGENCIES

SHAREHOLDERS' EQUITY:

Equity attributable to owners of the Company:

Ordinary shares ($0.001 par value; 125,000,000 shares authorized; 85,965 and 79,428 shares issued and

outstanding at December 31,2021 and 2020,respectively.)

85,941

79,302

Additional paid-in capital

89,279,792

82,045,993

(Deficit)

(21,842,858)

(18,594,755)

Statutory reserve

15,174

15,751,712

Accumulated other comprehensive (loss)

(6,919,882)

(9,568,873)

Total equity attributable to owners of the Company

76,481,167

69,379

Non-controlling interest

15,608,712

15,266,311

Total Shareholders' Equity

92,089,879

84,979,690

Total Liabilities and Shareholders' Equity

$

576,978

PINGTANMARINE ENTERPRISE LTD. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(IN U.S. DOLLARS)

For the Years Ended December 31,

2021

2020

2019

CASH FLOWS FROM OPERATING ACTIVITIES:

Net (loss) income

$

(2,065

Adjustments to reconcile net income from operations to net cash provided by (used in) operating

activities:

Depreciation

16,686

14,722,446

11,308,882

Bad debt expense

178,244

380,866

8,050

Inventory reserve (reversal)

9,467

14,984,980

(142,370)

Loss on equity method investment

708,020

156,085

486,803

Stock issued for professional fees

-

209,793

-

Loss on the interest sold

-

-

86,603

(Gain) on disposal of fixed assets

-

-

(59,432)

Impairment loss

6,372

67,943,585

Settlement of contract

(26,129)

-

-

Changes in operating assets and liabilities:

Accounts receivable

5,669,874

(21,222,129)

(3,110,730)

Inventories

4,820,618

(48,067,241)

(24,918,904)

Prepaid expenses

(18,341,059)

1,199,764

(727,857)

Prepaid expenses - related parties

2,259

(1,460)

-

Due from related parties

(5,646,422)

-

-

Other receivables

(8,258)

(1,177,998)

74,967

Accounts payable

35,780,524

8,933,807

(22,443,999)

Accounts payable - related parties

(5,226,281)

7,701,504

(1,501,793)

Accrued liabilities and other payables

14,108,415

738,755

5,527,508

Accrued liabilities and other payables - related party

-

-

(1,290)

Due to related parties

297,678

672,932

(9,483,868)

NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES

29,319,709

(32,578,152)

(30,573,780)

CASH FLOWS FROM INVESTING ACTIVITIES:

Prepayment for long-term assets

(54,141,296)

(12,913,191)

(49,592,695)

Purchase of property,plant and equipment

(30,718,417)

(86,283)

(118,468,793)

Proceeds from disposal of property,plant and equipment

-

-

72,480

Proceeds from government grants for fishing vessels construction

18,460,576

29,358,038

35,524,824

NET CASH (USED IN) INVESTING ACTIVITIES

(66,399,137)

(70,166,436)

(132,464,184)

CASH FLOWS FROM FINANCING ACTIVITIES:

Proceeds from short-term bank loans

72,401

93,075,852

10,147,133

Repayment of short-term bank loans

(53,380)

(53,846)

(5,062,771)

Proceeds from long-term bank loans

98,315,781

108,821,094

208,023,483

Repayment of long-term bank loans

(72,571,291)

(58,952,604)

(18,880,916)

Advances from (to) related parties

6,992,000

-

(22,664,328)

Proceeds from Due from related party

-

12,619,964

-

Proceeds from Issue of Ordinary Shares

4,351,243

-

-

Proceeds from Issue of Preferred Shares

3,698,273

-

-

Repayment to related party

(11,633)

-

-

Repurchase shares

(1,450,000)

-

-

NET CASH PROVIDED BY FINANCING ACTIVITIES

46,039,394

101,922,460

171,562,601

EFFECT OF EXCHANGE RATE ON CASH,CASH EQUIVALENTS AND RESTRICTED CASH

1,056,081

1,334,522

(399,287)

NET INCREASE IN CASH,CASH EQUIVALENTS AND RESTRICTED CASH

10,016,047

512,394

8,125,350

CASH,CASH EQUIVALENTS AND RESTRICTED CASH - beginning of period

10,604,599

10,092,205

1,855

CASH,CASH EQUIVALENTS AND RESTRICTED - end of period

$

20,620,646

$

10,599

$

10,205

SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:

Cash paid for:

Interest

$

17,759,215

$

20,549,990

$

6,419,569

Income taxes

$

-

$

-

$

-

RECONCILIATION TO AMOUNTS ON CONSOLIDATED BALANCE SHEETS:

Cash and cash equivalents

$

5,933

$

10,205

Restricted cash

14,666

-

TOTAL CASH,CASH EQUIVALENTS AND RESTRICTED CASH

$

20,205

NON-CASH INVESTING AND FINANCING ACTIVITIES:

Acquisition of property and equipment by decreasing prepayment for long-term assets

$

37,467

$

-

$

-

View original content:https://www.prnewswire.com/news-releases/pingtan-marine-enterprise-reports-financial-results-for-the-fourth-quarter-and-year-ended-december-31-2021-301549579.html