Pingtan Marine Enterprise Announces China's Largest Fishery Support Vessel and 6 Squid Jigging Vessels Sailing to Sea

FUZHOU,China,Dec. 22,2020 --Pingtan Marine Enterprise Ltd. (NASDAQ: PME) ("Pingtan" or the "Company"),today announced that the Company's rebuilt refrigerated transport vessel,Fu Yuan Yu Yun 992,and 6 large-scale squid jigging vessels set sail to sea in mid-December 2020.

China’s largest fishery support vessel leaving Shidao Port on December 12,2020.

Pingtan’s 6 large-scale squid jigging vessels leaving Mawei Port on December 17,2020.

The rebuilt refrigerated transport vessel,was completed in October 2020. Its vessel length is 132.06 meters and gross tonnage is 8374. It is the largest fishery support vessel in China so far as approved by the Ministry of Agriculture and Rural Affairs of the People's Republic of China. It left Shidao Port in Weihai City,Shandong Province on December 12,2020 and will operate in the international waters.

The 6 large-scale squid jigging vessels are normally operating vessels that returned to China earlier this year from the waters of Southwest Atlantic Ocean for maintenance and repair. These vessels left the port of Mawei on December 17,2020 and are sailing to the fishing grounds in the international waters of the Southeast Pacific Ocean for operation.

About Pingtan

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

CONTACT:

LiMing Yung (Michael)

Chief Financial Officer

Pingtan Marine Enterprise Ltd.

Tel: +86 591 87271753

michaelyung@ptmarine.net

Maggie Li

Investor RelationsManager

Pingtan Marine Enterprise Ltd.

Tel: +86 591 8727 1753

mli@ptmarine.net

INVESTOR RELATIONS

PureRock Communications Limited

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