Yongye International Receives 'Best Practice Award of Harvard Business Review'
BEIJING, Sept. 16 /PRNewswire-Asia-FirstCall/ -- Yongye International, Inc. (Nasdaq: YONG) ("Yongye" or the "Company"), a leading manufacturer, developer and distributor of "Shengmingsu" brand plant and animal nutrient products in China, today announced that Yongye Nongfeng, its operating affiliate, received "The Best Practice Award of Harvard Business Review" (the "Award") by Harvard Business Review China ("HBR China") on September 14, 2010. Harvard Business Review is a prestigious management magazine published since 1922 by Harvard Business School Publishing, owned by the Harvard Business School.
The Award is an annual award in its fourth year focused on the most successful and compelling companies in China. Other recipients of this award this year include Baidu, BMW (China), BYD, China Mobile, Lenovo, etc. Yongye Nongfeng is recognized for the success of its "Blue Ocean" strategy and business execution in the traditional agriculture industry in China.
"We are honored to have our business strategy and execution recognized by the Harvard Business Review China," stated Mr. Wu. "Unlike many traditional agriculture companies, we position our fulvic-acid based product to Chinese farmers as "nutrients", instead of fertilizer. Rather than competing on price, we focus on building a trustworthy brand and delivering value for farmers. In addition to our marketing campaign, creating a premium national brand image, our branded store network provides an excellent platform of technical support to farmers right in their villages. All of these initiatives have helped our business grow rapidly with solid profitability. I also would like to emphasize that significant beneficiaries of our business success are Chinese farmers who are able to achieve higher crop yields and more disposable income by using our products. We are proud of our company's contribution to helping Chinese farmers and this Best Practice Award from Harvard Business Review is a recognition of our all of our efforts."
About Yongye International
Yongye International is a Chinese agricultural nutrient company headquartered in Beijing, with its production facilities located in Hohhot, Inner Mongolia, China. Yongye markets two lines of organic nutrient products: a liquid nutrient product which is sprayed on plants and a powder nutrient product which is added to animal feed. Both products are sold under the brand name "Shengmingsu," which means "life essential" in Chinese. The Company's patented and patent pending formulas and proprietary extraction processes allow it to create products that increase crop yields and improve the health of livestock. The Company sells its products primarily to provincial or regional level distributors, who then channel those products to a carefully selected network of independently-owned Yongye branded stores in China. For more information, please visit the Company's website at http://www.yongyeintl.com .
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
For more information, please contact: Yongye International Mr. Larry Gilmore-VP of Corporate Strategy Phone: +1-626-319-4742 (U.S.) +86-10-8232-8866 (China) Email: email@example.com Ms. Wendy Xuan-Business Associate Phone: +86-10-8232-8866 x8827 Email: firstname.lastname@example.org CCG Investor Relations Mr. Crocker Coulson, President Phone: +1-646-213-1915 Email: email@example.com Athan Dounis, Account Manager Phone: +1-646-213-1916 Email: firstname.lastname@example.org
SOURCE Yongye International, Inc.