XI'AN, China, Feb. 7, 2017 /PRNewswire/ -- China Green Agriculture, Inc. (NYSE: CGA) ("China Green Agriculture", "CGA" or the "Company"), a company that mainly produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its subsidiaries in China, today announced that its wholly-owned subsidiary Shaanxi Techteam Jinong Humic Acid Product Co., Ltd., a wholly-foreign owned enterprise organized under the laws of the People's Republic of China ("Jinong"), and Xi'an TechTeam Investment Holding (Group) Co. Ltd. ("TechTeam") established a strategic cooperation with Shaanxi Agricultural Products Processing Technology Research Institute (the "Ag Institute"). The Company and the Ag Institute entered into related strategic cooperation agreements on January 13, 2017 in Xi'an, China.
The Ag Institute was established on December 20, 2007 and was formally approved by the Shaanxi Provincial Government. There are five provincial research institutes directly supported by the Shaanxi Provincial Government, with the Ag Institute being one of them and the only one engaged in the research of agricultural products processing technology and promoting of humic acid compound fertilizers. The Shaanxi Provincial Small and Mid-size Enterprises Promotion Bureau and Shaanxi University of Science and Technology has provided strong support in financial resources and technical assistance to the Ag Institute.
"The Company and the Ag Institute have much room for cooperation in the deep processing of agricultural products, agricultural brand building, and humic acid fertilizer research, development and production improvement," said Zhuoyu Li, President of the Company. "The Company will take this opportunity to improve production, enhance brand image, and promote our products to more and more potential customers."
"This is a significant and meaningful strategic cooperation. It will bring the Company a new development opportunity in enhancing existing products and technologies," said Mr. Tao Li, Chairman and CEO of the Company. "I believe the strategic cooperation between the Company and the Ag Institute will bring significant benefits to our products, brands, and have a positive effect on our efforts to further promote our ecommerce platform."
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.: Shaanxi Techteam Jinong Humic Acid Product Co., Ltd. ("Jinong"), Beijing Gufeng Chemical Products Co., Ltd ("Gufeng") and variable interest entities Xi'an Hu County Yuxing Agriculture Technology Development Co., Ltd. ("Yuxing"), Shaanxi Lishijie Agrochemical Co., Ltd. ("Lishijie"), Songyuan Jinyangguang Sannong Service Co., Ltd. (Jinyangguang"), Shenqiu County Zhenbai Agriculture Co., Ltd. ("ZhenbaiArgi"), Weinan City Linwei District Wangtian Agricultural Materials Co., Ltd. ("Wangtian"), AksuXindeguo Agricultural Materials Co., Ltd. (Xindeguo"), Xinjiang Xinyulei Eco-agriculture Science and Technology co., Ltd. ("Xinyulei"), Sunwu Xiangrong Agricultural Materials Co., Ltd. (Xiangrong), and Anhui Fengnong Seed Co. Ltd. (Fengnong). 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. Ting Shi (English and Chinese)
SOURCE China Green Agriculture, Inc.