XI'AN, China, Feb. 19, 2011 /PRNewswire-Asia/ -- China Green Agriculture, Inc. (NYSE: CGA) ("China Green Agriculture" or the "Company"), a leading producer and distributor of humic acid ("HA") based compound fertilizer, blended fertilizer, organic compound fertilizer and mixed organic-inorganic compound fertilizer 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 the receipt of three awards for its humic acid fertilizer products and outstanding economic contributions.
At the China Humic Acid Industry Association's ("CHAIA") Ninth Exchange Meeting on New Technologies and Products for National Green Fertilizers and Pesticides held in late 2010, CGA was awarded the Black Golden Cup, one of the industry's most prestigious awards. This award resulted from an extensive appraisal process by the CHAIA's panel of experts for the company's advanced technology in the development of humic acid fertilizers and for serving as a model for the entire fertilizer industry. This was the first time the award has been given to CGA.
The Company also received the Leading Humic Acid Fertilizer Enterprise Award from the Chemical Industry and Engineering Society of China ("CIESC") in late 2010. The award is based on a rigorous appraisal of the company's operating results and data from the State Statistics Bureau and rewards companies for assisting in the development of the Chinese agriculture industry.
Finally, after several months of discussion and assessment from the management committee of Yangling Demonstration Zone ("YDZ"), CGA was awarded the Outstanding Economic Contribution Award for its contribution to YDZ throughout 2010 and its outstanding operating results.
"We are very pleased to have been recognized by so many outstanding institutions for our contributions to the fertilizer industry," stated Mr. Tao Li, Chairman, President and Chief Executive Officer of China Green Agriculture. "This clearly indicates that we are increasingly drawing more attention to our operations and products from experts in the field. While we appreciate the increasing recognition of our products and practices, we will consider these awards as encouragement and inspiration to continue to grow and deliver greater value to our shareholders as well as gain greater recognition domestically and overseas."
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, and has over 150 distributors nationwide. 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.
