Pingtan Marine Enterprise Ltd. announced that 20 fishing vessels operated by the Company received approval from the Ministry of Agriculture and Rural Affairs of the People's Republic of China ("MARA") for modification and rebuilding. The 20 fishing vessels will be modified into seine fishing vessels with vessel length of 57 meters and gross tonnage of 1,110. Among the 20 fishing vessels, 8 were approved by the MARA to operate in the international waters of the Indian Ocean, and 12 were approved to operate in the international waters of North Pacific Ocean after the completion of the modification and rebuilding.