China Agritech, Inc. Headquartered Its Nationwide Distribution Network in Beijing

BEIJING, Aug. 23 /PRNewswire-Asia-FirstCall/ -- China Agritech, Inc. (Nasdaq: CAGC) ("China Agritech", or the "Company"), a leading organic compound fertilizer manufacturer and distributor in China, today announced that it has entered into a strategic agreement with the Beijing Municipal Government to establish within Beijing the headquarters of its nationwide network of distribution centers.

The network will consist of flagship regional distribution centers strategically located in key agricultural provinces throughout China. These distribution centers will sell Agritech-branded organic liquid and granular compound fertilizers, and other third-party procured agricultural products to the Company's franchised retail stores. As regional hubs for logistics, technology, and services, these distribution centers will provide one-stop solutions to farmers for their agricultural supplies and farming consultation.

Pursuant to the agreement, the municipal government of Beijing has committed to providing preferential taxation treatment towards the project and granting favorable policies to attract talented agricultural professionals who have a strong track record in the agricultural sector from all parts of China.

Mr. Yu Chang, Chairman and Chief Executive Officer of China Agritech, commented, "China's organic fertilizer market is currently experiencing accelerating growth, as more farmers are embracing more eco-friendly fertilizers. However, the traditional agricultural distribution system lacks efficiency and sufficient knowledge of modern agriculture. As one of the largest organic fertilizer producers in China, we believe that our forthcoming domestic distribution network will not only procure the right organic supplies for farmers and implement better supply chain management, but provide better one-stop solutions for organic farming and after-sales consultation to our sub-distributors as well. Our newly established working relationship with the Beijing Municipal Government speaks volumes on our strong brand equity and superior core competencies in the marketplace."

About China Agritech, Inc.

China Agritech, Inc. is engaged in the development, manufacture and distribution of liquid and granular organic compound fertilizers and related products in China. The Company has developed proprietary formulas that provide a continuous supply of high-quality agricultural products while maintaining soil fertility. The Company sells its products to farmers located in 28 provinces of China. For more information, please visit http://www.chinaagritechinc.com .

Safe Harbor Statement

This press release contains certain statements that may be deemed to be "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical facts, that address activities, events or developments that the Company expects, projects, believes or anticipates will or may occur in the future, including, without limitation, statements about its business or growth strategy, general industry conditions, future operating results of the Company, capital expenditures, expansion and growth opportunities, financing activities and other such matters, are forward-looking statements. Although the Company believes that its expectations stated in this press release are based on reasonable assumptions, actual results may differ from those projected in the forward-looking statements. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the SEC. Except as required by law, China Agritech is under no obligation to update or alter its forward-looking statements whether as a result of new information, future events or otherwise.

    For more information, please contact:

    In China:
     Mr. Gareth Tang
     Chief Financial Officer
     China Agritech, Inc.
     Email: [email protected]

    In the U.S.:
     Mr. Shiwei Yin/Kevin Theiss
     Investor Relations
     Grayling
     Tel:   +1-646-284-9474
     Email: [email protected]
            [email protected]

SOURCE China Agritech, Inc.

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