2014

China Green Agriculture, Inc. Launched Seven New Fertilizer Products and Added 49 New Distributors during the Fourth Quarter of Fiscal Year 2012

XI'AN, China, July 30, 2012 /PRNewswire-Asia-FirstCall/ -- China Green Agriculture, Inc. (NYSE: CGA; "CGA" or the "Company"), mainly produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its wholly-owned subsidiaries in China, today announced that it launched seven new fertilizer products and added 49 new distributors in the fourth quarter ended June 30, 2012.

The seven new fertilizer products, including five broad-spectrum and two powder fertilizer products, were launched by Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd, the Company's fertilizer operating subsidiary in Shaanxi province ("Jinong") during the fourth quarter ended June 30, 2012.  During the quarter, Jinong retired 35 fertilizer products because the fertilizer products were either outdated or upgraded fertilizer products had been rolled out. The launch and retirement of fertilizer products brought the total number of Jinong's fertilizer products in use to 126.

The management estimated the seven new products contributed approximately RMB733,180 (approximately $115,256) to Jinong's fertilizer revenues during the quarter. Jinong also added 46 new distributors during the quarter, which brought the total number of Jinong's distributors to 758. These new distributors contributed approximately RMB10,852,450 (approximately $1,706,005) to Jinong's fertilizer revenues during the quarter. During the three months ended June 30, 2012, Jinong's revenue attributable to the new products distributed by its new distributors was RMB 280,600(approximately $44,110).

Beijing Gufeng Chemical Products Co., Ltd., the Company's fertilizer operating subsidiary in Beijing ("Gufeng") added three new distributors during the quarter, which brought the total number of Gufeng's distributors to 185. These three new distributors contributed approximately RMB3,024,235 (approximately $475,410) to Gufeng's fertilizer revenues for the quarter ended June 30, 2012. During the quarter ended June 30, 2012, no revenue of Gufeng was attributable to the new products distributed by its new distributors.

"I am very pleased that these new products reached the market during the quarter ended June 30, 2012. They further demonstrated our long-term commitment to faster product development process and market roll-out of new products. Our R&D capacity and new business development capability constituted the main drivers of the company's growth and will be continuously strengthened in the future to realize our 10-year growth plan. The long-term commitment, based on our market insight, is to secure a leading position for the Company in the fertilizer industry," said Mr. Tao Li, the Company's Chairman and CEO.

About China Green Agriculture, Inc.

The Company mainly 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, Xi'an Jintai Agriculture Technology Development Company ("Jintai") and Xi'an Hu County Yuxing Agriculture Technology Development Co., Ltd. ("Yuxing"). Jinong produced and sold 126 different kinds of fertilizer products as of June 30, 2012, all of which are certified by the PRC government 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 22 provinces, four autonomous regions, and three central-government-controlled municipalities in the PRC. Jinong had 758 distributors in China as of June 30, 2012. Gufeng, and its wholly-owned subsidiary, Beijing Tianjuyuan Fertilizer Co., Ltd., are Beijing-based producers of compound fertilizer, blended fertilizer, organic compound fertilizer, and mixed organic-inorganic compound fertilizer. As of June 30, 2012, Gufeng produced and sold 317 different kinds of fertilizer products, and had 185 distributors in China. 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 regulation.



For more information, please contact:








China Green Agriculture, Inc.




Ms. Jane Zuo (English and Chinese)




Investor Relations Manager




Tel:    +86-186-1842-8899 




Email: jane.zuo@cgagri.com

 




SOURCE China Green Agriculture, Inc.



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