XI'AN, China, April 20, 2015 /PRNewswire/ -- 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, i.e.: Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. ("Jinong") and Beijing Gufeng Chemical Products Co., Ltd. ("Gufeng"), today announced that it launched one new fertilizer product and added 13 new distributors in its third fiscal quarter ended March 31, 2015.
During the quarter, Jinong has launched one new fertilizer product, and currently has 121 fertilizer products in use. Jinong also added six new distributors during the same quarter, and now has a total of 978 distributors.
Gufeng currently has 332 fertilizer products in use. During the quarter, Gufeng added seven new distributors during the same quarter, and now has a total of 278 distributors.
"We are now offering 453 fertilizer products via a network of 1,256 distributors nationwide. I am very pleased with our R&D capacity and new business development capacity. They constituted the main drivers of Company's growth," said Mr. Tao Li, Chairman and CEO 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 121 different kinds of fertilizer products as of March 31, 2015, 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 978 distributors in the PRC as of March 31, 2015. 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 March 31, 2015, Gufeng produced and sold 332 different kinds of fertilizer products, and had 278 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. Ran Liu (English and Chinese)
SOURCE China Green Agriculture, Inc.