China Marine Food Group Ltd., a China based processor and distributor of seafood products, today announced revenue and net income guidance figures for the year 2010, showing anticipated increases in revenue and net income.

The company is now forecasting 2010 revenues of greater than $80.0 million, based on current sales from China Marine’s existing distribution network of 19 master distributors in seven provinces throughout China. The forecast anticipates strong performances from the sales territories of Jiangsu and Shanghai, plus continued growth in Guangdong and the Sichuan area, including the cities of Chengdu and Chongqing. China Marine also plans to launch a number of new products, as well as add new sales territories to their network, and secure product placements at additional retail food chains with the company’s Mingxiang® brand seafood snack foods.

In addition, higher sales, together with stable margins and improved efficiencies due to production line capacity increases, are expected to

The board of directors for China Marine Food Group Ltd. (OTCBB: CMFO) announced on Oct. 1 that the company has set up a $3-million stock repurchasing program through March 31, 2010.

The amount and timing of specific repurchases are subject to market conditions, legal requirements and other factors deemed appropriate by the CEO and president, Pengfei Liu. Any repurchased shares will be retired to reduce the number of outstanding common stock, currently at 23 million shares.

“Repurchases may be in open-market transactions or through privately negotiated transactions, and the repurchase program may be expanded by the board of directors in the future,” a company news release states. With the buyback, the company has a “sufficient cash balance” to complete phases one and two of its plant expansion, set to begin in 2009.

“After careful consideration and evaluating a number of suitable investment opportunities, we believe an investment in our company has the potential