XI'AN, China, Jan. 28 /PRNewswire-Asia-FirstCall/ -- China Green Agriculture, Inc. (NYSE: CGA; "China Green Agriculture" or "the Company"), a leading producer and distributor of humic acid ("HA") based compound fertilizer through its wholly owned subsidiary, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., today announced that it launched four new HA based fertilizer products in the second quarter ended December 31, 2009.
China Green Agriculture currently offers 141 different HA based compound fertilizers, which are distributed via the Company's 540 individual distributors covering 21 provinces, 4 autonomous regions and 3 municipal cities in China. Its fertilizer products are certified by the Chinese government as "Green Food Production Materials".
The following is a brief description of the Company's four new products:
Jinong Jingdian -- a highly concentrated powder based fertilizer used to increase crop yields in various weather conditions, including frost and drought. Product contains nitrogen, phosphorus, potassium, organic matter, active protein, carbohydrate, vitamins and micro elements. By improving the synthesis of multiple enzymes and metabolism for nitrogen, it can remarkably improve the immune system and development of various crops.
Liang Guo Zeng Tian -- a highly concentrated powder based fertilizer specifically developed to promote fullness of the fruits. This highly efficient, time-released fertilizer contains no hormones or chlorine and works to improve the resistance to pests while preventing damage caused by adverse weather conditions.
Lan Gai -- rich in calcium, this liquid based fertilizer prevents bitter pit disease, navel rot, burning heart, and adverse affects caused by calcium deficiency for the crops, especially fruits and vegetables. It promotes the shininess of crops' skin, improves firmness of fruit and helps extend the shelf life.
Di Guan Fei - a liquid based fertilizer designed specifically for farmlands with irrigation systems. It can be dissolved in a short period of time and is quickly absorbed by the roots, thus improving the immune system of the plant, particularly for cotton, and resulting in a reduction of bud dropping while enhancing productivity.
"We will continue to introduce new products to the market quickly which includes both liquid and powder fertilizer products," said Mr. Tao Li, the Company's chairman and CEO. "We remain on schedule in meeting our construction goals for our additional 12 new greenhouses which will further increase the company's ability to develop high margin fertilizer products as well as HA based derivatives such as HA based pesticides and herbicides. We are confident that the growing demand for our green fertilizer products coupled with our expanding R&D platform will enable us to deliver incremental revenue and earnings growth, while expanding both gross and operating margins."
Distribution Network Update
Additionally, the Company announced that that it has signed agreements with 3 new distributors throughout the quarter ending December 31, 2009. The 3 new clients have increased the Company's regional distributor base to 540 individual distributors and have strengthened the Company's distribution footprint in key provinces, autonomous regions and municipal cities, throughout China.
About China Green Agriculture, Inc.
China Green Agriculture, Inc. produces and distributes humic acid ("HA") based compound fertilizer through its wholly owned subsidiary, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., ("Jinong"). Jinong produces and sells over 140 different kinds of fertilizer products per year. All of Jinong's fertilizer products are certified by the PRC government as green food production materials, as stated by the China Green Food Research Center. Jinong's liquid based fertilizers are highly concentrated liquids which require an application of approximately 120 ml per mu per application. Its average end user has approximately four mu of land (one mu = .165 acres). Jinong also has the capacity to produce highly concentrated powdered fertilizers. China Green Agriculture currently markets its fertilizer products to private wholesalers and retailers of agricultural farm products in 21 provinces, 4 autonomous regions and 3 municipal cities in the PRC. The leading five provinces which collectively accounted for 36.0% of the Company's fertilizer revenue for the three months ended September 30, 2009 are Shandong (10.5%), Shaanxi (8.3%), Heilongjiang (6.4%), Henan (5.6%) and Anhui (5.2%). For more information, visit http://www.cgagri.com .
Safe Harbor Statement
This press release contains forward-looking statements 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 and business conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, 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 Securities and Exchange Commission. 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.
For more information, please contact: In the US: China Green Agriculture, Inc. Ms. Ying Yang, Chief Financial Officer Tel: +1-626-623-2575 Email: firstname.lastname@example.org HC International, Inc. Ted Haberfield, Executive VP Tel: +1-760-755-2716 Email: email@example.com In China: China Green Agriculture, Inc. Mr. Jonnie Wang, Secretary of Board, Investor Relations Officer Tel: +86-29-8826-6368 Email: firstname.lastname@example.org
SOURCE China Green Agriculture, Inc.