Yongye International's 'Shengmingsu' Branded Nutrient Product Benefits Northern China's Drought Stricken Crops
BEIJING, Feb. 8, 2011 /PRNewswire-Asia-FirstCall/ -- Yongye International, Inc. (Nasdaq: YONG) ("Yongye" or the "Company"), a leading agricultural nutrient company in China, today announced that its "Shengmingsu" branded plant nutrient product is helping crops survive Northern China's current drought conditions.
The recent drought across Northern China, which is one of the worst droughts in Northern China in recent years, began in the fourth quarter of 2010, the last time much of the region had significant rain. This drought has already affected millions of acres of farmland and is likely to have a major impact on the incomes of hundreds of thousands of farmers.
One important benefit of Yongye's "Shengmingsu" branded plant nutrient product is to help plants counteract the effects of water deprivation. Crops sprayed with Shengmingsu are able to better withstand the effects of drought and continue to flourish alongside withering crops which received only traditional fertilizer. Yongye's Shengmingsu plant nutrient product is now being used in a number of drought-affected areas and has been purchased by some county level governments in northern provinces including Hebei, Shanxi, Shandong and Xinjiang to assist local farmers in combating the conditions.
"We are very confident that our plant nutrient product will bring important benefits to the crops in drought areas," stated Mr. Zishen Wu, Chief Executive Officer of Yongye International, Inc. "Many regions in China have experienced drought in the past several years and our growth to date was partly due to the anti-natural disaster feature of our Shengmingsu product. In recent months we have continued to see strong demand from our distributors, who are actively promoting our products as an effective nutrient product for local farmers to counteract the drought."
"Given the strong demand for our Shengmingsu plant nutrient product and Yongye's larger scale independently owned branded store network, we remain confident in achieving our 50% year-over-year revenue growth projection for 2011."
About Yongye International
Yongye International is a leading agricultural nutrient company headquartered in Beijing, with its production facilities located in Hohhot, Inner Mongolia, China. Yongye produces and markets two lines of organic nutrient products: a liquid nutrient product which is sprayed on plants and a powder nutrient product which is added to animal feed. Both products are sold under the brand name "Shengmingsu," which means "life essential" in Chinese. The Company's patented technologies and formulas allow it to create products that increase crop yields and improve the health of livestock. The Company sells its products primarily to provincial or regional level distributors, who then channel those products to a carefully selected network of over 24,000 independently owned, Yongye branded stores or directly to rural farmers and government farms in China. For more information, please visit the Company's website at http://www.yongyeintl.com.
Safe Harbor Statement
This press release contains certain statements that may include "forward-looking statements." All statements other than statements of historical fact included herein are "forward-looking statements." These forward-looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involving known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including the risk factors discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on the SEC's website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these risk factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contact: |
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Yongye International |
CCG Investor Relations |
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Ms. Kelly Wang |
Mr. Athan Dounis |
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Finance Director – Capital Markets |
Phone: +1-646-213-1916 |
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Phone: +86-10-8231-9608 |
Email: [email protected] |
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E-mail: [email protected] |
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Ms. Wendy Xuan – Business Associate |
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Phone: +86-10-8232-8866 x 8827 |
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E-mail: [email protected] |
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SOURCE Yongye International, Inc.
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