HONG KONG, May 20, 2011 /PRNewswire-Asia/ -- Chiho-Tiande GroupLimited ("Chiho-Tiande" or the "Company", together with its subsidiaries, the "Group", HKEx stock code: 976), the largest importer of mixed metal scrap in the PRC, announced that the Company's Chairman Mr. Fang Ankong has purchased 4,564,000 shares of the Company in the open market from 6 May to 13 May 2011 at an average price of HK$6.122 per share.

Mr. Fang said, "This is a vote of confidence in the value and prospect of our Group. Based on our business of non-ferrous metallic regeneration, steel scrap, and casting business, we will focus on our development and construction of new production base in China, to enhance the overall production and processing capability and maximize returns to our shareholders."

About Chiho-Tiande GroupLimited

Listed on the Main Board of The Stock Exchange of Hong Kong Limited on 12 July 2010, Chiho-Tiande is a mixed metal scrap recycler in China and the largest importer of mixed metal scrap in China in terms of total import volume and actual import volume. According to China Customs data, the Group was also the largest importer of copper-based scrap in China in 2009. Its business operations are broadly classified into three categories: metal recycling business, foundry business and wholesale business. The Group specializes in the recycling and processing of imported mixed metal scrap. Chiho-Tiande possesses a well-established procurement network for mixed metal scrap, and operating through its four sizable processing facilities locating in Taizhou, Ningbo, Shanghai and Hong Kong, with an annual total processing capacity of over 600,000 tons of mixed metals.