BEIJING, May 26, 2011 /PRNewswire-Asia-FirstCall/ -- Yongye International, Inc. (NASDAQ: YONG), a leading agricultural nutrient company in China ("Yongye" or the "Company"), announced today that Yongye Nongfeng, the Company's main operating affiliate, and the Chongqing Agriculture Commission ("CAC"), jointly hosted a public event in Chongqing on May 19, 2011, to educate local farmers on techniques to improve agricultural productivity.
The CAC is the official local government agency overseeing the development of the agriculture industry in the region. Mr. Zishen Wu, Yongye's Chairman and Chief Executive Officer, along with Mr. Gao Xingming, Deputy Commissioner of the CAC, Mr. Tang Yuanjie, President of Farmer's Daily (the largest national newspaper in the agriculture industry in China) and other local dignitaries, hosted the event, which included local farmers and various government officials. As of May 2011, Yongye had approximately 400 branded stores in the Chongqing area. The Company is targeting to expand its branded store network in this area to 1,000 stores in the future.
"We were honored to have jointly hosted this event with the CAC," stated Mr. Wu. "Chongqing, the surrounding area, and southwestern China in general, are new areas that have great potential for us to expand our Shengmingsu business. We plan to work with local governments and farmers to continue to cultivate Yongye's consumer loyalty and corporate image in this regional market."
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 26,000 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.
CCG Investor Relations
Ms. Kelly Wang
Mr. Athan Dounis
Finance Director ? Capital Markets
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Phone: +86-10-8232-8866 x 8827
SOURCE Yongye International, Inc.