XI'AN, China, March 4, 2011 /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 fertilizers, blended fertilizers, organic compound fertilizers and mixed organic-inorganic compound fertilizers through its wholly owned subsidiaries in China, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. ("Jinong") and Beijing Gufeng Chemical Products Co., Ltd. ("Gufeng"), today announced that Jinong ranks 17th of 200 ranked companies in the Forbes 2011 list of the Best Small and Medium Enterprises in China ("China Best SMEs").
Now in its seventh year, the Forbes China Best SMEs Program ranks companies with the "most potential," based on a host of metrics, including three-year weighted average revenue and profit growth rate, return on assets, profit margin, sales revenues and net profits. For its 2011 study, the business publication surveyed over 20,000 small- and medium-sized companies in China, with sales ranging from RMB5 million (approximately $760thousand) to 1 billion (around $152million). In addition to reviewing companies' financial reports, Forbes also conducted a number of field visits to complete their surveys.
"We are extremely pleased to rank first among agriculture companies in the Forbes 2011 list of China Best SMEs," stated Mr. Tao Li, Chairman and Chief Executive Officer of CGA. "We are very focused on creating lasting value for our shareholders and on growing the company in a sustainable way. To this effect, we have further refined our strategy and have recently approved and published our 2011-2020 growth plan which provides a blueprint to guide the Company's business expansion in the next ten years."
About China Green Agriculture, Inc.
The Company mainly produces and distributes humic acid-based compound fertilizers and other varieties of compound fertilizers through its wholly-owned subsidiaries, Jinong and Gufeng. Jinong produces and sells 146 different kinds of fertilizer products, all of which are certified by the PRC government as Green Food Production Materials, as stated by the China Green Food Research Center. Jinong currently markets its fertilizer products to private wholesalers and retailers of agricultural farm products in 21 provinces, four autonomous regions and three central-government-controlled municipalities in the PRC. For the three months ended December 31, 2010, the top five provinces (or municipalities) of fertilizer sales accounted for 29.2% of total revenues. The five provinces (or municipalities) and their respective percentage contribution to total fertilizer revenues were Hebei (7.0%), Jilin (6.8%), Liaoning (6.4%), Shaanxi (4.8%) and Beijing (4.1%). Jinong had 598 distributors in China. Gufeng had 157 distributors including some large state-owned enterprises. The recently acquired company, 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. Gufeng produces and sells over 300 different kinds of fertilizer products. 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 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 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 investor and media inquiries, please contact:
China Green Agriculture, Inc.
Mr. Ken Ren, Chief Financial Officer
SOURCE China Green Agriculture, Inc.