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SOURCE China Green Agriculture, Inc.
XI'AN, China, Feb. 6, 2014 /PRNewswire-FirstCall/ -- China Green Agriculture, Inc. (NYSE: CGA; "CGA" or the "Company") which produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its operating subsidiaries in China, today announced that it launched two new fertilizer products and added 29 new distributors in its second fiscal quarter ended December 31, 2013.
Out of the two new fertilizer products, one new product was launched by Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., the Company's fertilizer operating subsidiary in Shaanxi province ("Jinong") during the quarter ended December 31, 2013. Jinongnow has 123 fertilizer products currently in use. During the same quarter, Jinong added 15 new distributors, reaching a total of 872 distributors. The other new fertilizer product was launched by Beijing Gufeng Chemical Products Co., Ltd., the Company's fertilizer operating subsidiary in Beijing ("Gufeng"), during the quarter ended December 31, 2013. Gufeng now has 323 fertilizer products currently in use. Gufeng added 14 new distributors during the same quarter, and now has a total of 228 distributors. "With the rollout of our new products in the last quarter, we are now offering 446 fertilizer products to farmers via a network of 1,100 distributors nationwide," stated Mr. Tao Li, Chairman, President and Chief Executive Officer of the Company. "We look forward to further expanding our distribution footprint with more product choices for clients in the future."
About China Green Agriculture, Inc.
The Company produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its wholly-owned subsidiaries, i.e.: Jinong, Gufeng and a variable interest entity, Xi'an Hu County Yuxing Agriculture Technology Development Co., Ltd. ("Yuxing"). Jinong produced and sold 123 different kinds of fertilizer products as of December 31, 2013, all of which are certified by the government of the People's Republic of China (the "PRC") as Green Food Production Materials, as stated by the China Green Food Development Center. Jinong currently markets its fertilizer products to private wholesalers and retailers of agricultural farm products in 27 provinces, four autonomous regions, and three central-government-controlled municipalities in the PRC. Jinong had 872 distributors in the PRC as of December 31, 2013. Gufeng, and its wholly-owned subsidiary, Beijing Tianjuyuan Fertilizer Co., Ltd., are Beijing-based producers of compound fertilizers, blended fertilizers, organic compound fertilizers, and mixed organic-inorganic compound fertilizers. As of December 31, 2013, Gufeng produced and sold 323 different kinds of fertilizer products, and had 228 distributors in the PRC. For more information, visit http://www.cgagri.com. The Company routinely posts important information on its website.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 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, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, a satisfactory conclusion of the pending securities class action litigation 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 SEC. 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, except as required by applicable law or regulations.
For more information, please contact:
China Green Agriculture, Inc.
Ms. Fang Wang (English and Chinese)
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