XI'AN, China, Nov. 3, 2013 /PRNewswire-FirstCall/ -- China Green Agriculture, Inc. (NYSE: CGA; "CGA" or the "Company"), a company mainly produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its operating subsidiaries in China, today announced that it launched three new fertilizer products and added 37 new distributors in the first quarter ended September 30, 2013.
Out of the three new fertilizer products, one new product was launched by Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd, the Company's fertilizer operating subsidiary in Shaanxi province ("Jinong") during the first quarter ended September 30, 2013. The total number of Jinong's fertilizer products in use was 122. During the quarter, Jinong added 31 new distributors (total 857 distributors). The other two new fertilizer products were launched by Beijing Gufeng Chemical Products Co., Ltd., the Company's fertilizer operating subsidiary in Beijing ("Gufeng") during the first quarter ended September 30, 2013. The total number of Gufeng's fertilizer products in use was increased to 322. Gufeng added 6 new distributors (total 214 distributors) during the quarter." With the rollout of new products last quarter, we are now offering 444 fertilizer products to farmers via a network of 1071 distributors nationwide," stated Mr. Tao Li, Chairman, President and Chief Executive Officer of the Company. "We look forward to further expanding our distribution footprints with more product choices for clients in the future."
About China Green Agriculture, Inc.
The Company mainly 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 122 different kinds of fertilizer products as of September 30, 2013, all of which are certified by the PRC government 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 857 distributors in China as of September 30, 2013. 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. As of September 30, 2013, Gufeng produced and sold 322 different kinds of fertilizer products, and had 214 distributors in China. 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.