China Green Agriculture, Inc. Launches Three New Fertilizer Products
November 04 2009 - 6:00AM
PR Newswire (US)
Strengthens Distribution Network with 7 New Distributors in Q1
FY2010 XI'AN, China, Nov. 4 /PRNewswire-Asia-FirstCall/ -- China
Green Agriculture, Inc. (NYSE Amex: CGA; "China Green Agriculture"
or "the Company"), a leading producer and distributor of humic acid
("HA") based compound fertilizer through its wholly owned
subsidiary, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd.,
today announced that it launched three new HA based fertilizer
products in the quarter ended September 30, 2009. China Green
Agriculture currently offers 137 different HA based compound
fertilizers, which are distributed via the Company's 537 individual
distributors covering 21 provinces, 4 autonomous regions and 3
municipal cities in China. Its fertilizer products are certified by
the Chinese government as "Green Food Production Materials". The
following is a brief description of the Company's three new
products: Jinong Humic Acid Boron -- a highly concentrated powder
based fertilizer specifically developed to prevent Boron
deficiency, which is a disorder affecting plants growing in
deficient soils and is often associated with areas of high rainfall
and leached soils. It promotes fullness of the fruits and
stimulates more buds in the flowering stage. Jinong Hyperkalemic
Fertilization -- a highly concentrated powder based fertilizer that
can be used as a substitute for soil top-dressing after dilution
and is quickly absorbed by all crops. It improves the immune system
and development of the plant and stimulates more buds in the
flowering stage while promoting fullness of the fruits. Jinong
Solid Organic Fertilizer -- rich in humic acid and amino acid, this
time-released granular fertilizer prevents adverse affects caused
by disease, drought and flood. It promotes seedling growth and
enhances the retention of water and nutrients while increasing
plant productivity and crop yields. "Our goal is to continue to
introduce new products to the market quickly through our rapid and
efficient R&D processes," said Mr. Tao Li, the Company's
chairman and CEO. "Our recently announced plans to build an
additional 12 new greenhouses over an area of approximately 88
acres will further increase the company's ability to develop both
liquid and powder fertilizer products as well as humic acid based
derivatives such as pesticides and herbicides. We are confident
that the growing demand for our green fertilizer products coupled
with our expanding R&D platform will enable us to deliver
incremental revenue and earnings growth, while expanding both gross
and operating margins." Distribution Network Update Additionally,
the Company announced that that it has signed agreements with 7 new
distributors throughout the quarter ending September 30, 2009. The
7 new clients have increased the Company's regional distributor
base to 537 individual distributors and have strengthened the
Company's distribution footprint in key provinces, autonomous
regions and municipal cities, including Shanghai and Guangxi. About
China Green Agriculture, Inc. China Green Agriculture, Inc.
produces and distributes humic acid ("HA") based compound
fertilizer through its wholly owned subsidiary, Shaanxi TechTeam
Jinong Humic Acid Product Co., Ltd., ("Jinong"). Jinong produces
and sells over 130 different kinds of fertilizer products per year.
All of Jinong's fertilizer products are certified by the PRC
government as green food production materials, as stated by the
China Green Food Research Center. Jinong's fertilizers are highly
concentrated liquids which require an application of approximately
120 ml per mu per application. Its average end user has
approximately four mu of land (one mu = .165 acres). Jinong also
has the capacity to produce highly concentrated powdered
fertilizers. China Green Agriculture currently markets its
fertilizer products to private wholesalers and retailers of
agricultural farm products in 21 provinces, 4 autonomous regions
and 3 municipal cities in the PRC. The leading five provinces which
collectively accounted for 36.4% of the Company's fertilizer
revenue for the year ended June 30, 2009 are Shandong (9.5%),
Shaanxi (8.3%), Heilongjiang (6.5%), Xinjiang (6.5%) and Anhui
(5.9%). For more information, visit http://www.cgagri.com/ . Safe
Harbor Statement This press release contains forward-looking
statements concerning the Company's business, products and
financial results. The Company's actual results may differ
materially from those anticipated in the forward-looking statements
depending on a number of risk factors including, but not limited
to, the following: general economic and business conditions,
development, shipment, market acceptance, additional competition
from existing and new competitors, the impact of competitive
products or pricing, changes in technology, additional financing
requirements, development of new products, government approval
processes, technological changes, and various other factors beyond
the Company's control. All forward-looking statements are expressly
qualified in their entirety by this Safe Harbor Statement and the
risk factors detailed in the Company's reports filed with the
Securities and Exchange Commission. China Green Agriculture
undertakes no duty to revise or update any forward- looking
statements to reflect events or circumstances after the date of
this release. For more information, please contact: In the US:
China Green Agriculture, Inc. Ms. Ying Yang, Chief Financial
Officer Tel: +1-626-623-2575 Email: OR HC International, Inc. Ted
Haberfield, Executive VP Tel: +1-760-755-2716 Email: In China:
China Green Agriculture, Inc. Mr. Jonnie Wang, Secretary of Board,
Investor Relations Officer Tel: +86-29-8826-6368 Email: DATASOURCE:
China Green Agriculture, Inc. CONTACT: In the US: China Green
Agriculture, Inc., Ms. Ying Yang, Chief Financial Officer,
+1-626-623-2575, or ; or HC International, Inc., Ted Haberfield,
Executive VP, +1-760-755-2716, or ; In China: China Green
Agriculture, Inc., Mr. Jonnie Wang, Secretary of Board, Investor
Relations Officer, +86-29-8826-6368, or Web site:
http://www.cgagri.com/
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