China Green Agriculture releases 7 fertilizers

Source：China Green Agriculture, Inc. Release Date：2012-08-01 289

Food & Beverage

Five broad-spectrum and two powder fertilizers launched by its operating subsidiary in Shaanxi province

XI’AN, China – China Green Agriculture, Inc. (NYSE: CGA) launched seven new fertilizer products and added 49 new distributors in the fourth quarter ended June 30, 2012.

China Green Agriculture mainly produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its wholly-owned subsidiaries in China. Its new products include five broad-spectrum and two powder fertilizer products all launched by Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd, the company's fertilizer operating subsidiary in Shaanxi province (Jinong).

During the quarter, Jinong retired 35 fertilizer products because the fertilizer products were either outdated or upgraded fertilizer products had been rolled out. The launch and retirement of fertilizer products brought the total number of Jinong's fertilizer products in use to 126.
The seven new products contributed approximately RMB 733,180 ($115,256) to Jinong's fertilizer revenues during the quarter. Meanwhile, the total number of distributors is now 758. New distributors contributed about RMB 10,852,450 ($1,706,005) to Jinong's fertilizer revenues in the same quarter. During the three months ended June 30, 2012, Jinong's revenue attributable to the new products and new distributors was RMB 280,600 (approximately $44,110).
"I am very pleased that these new products reached the market during the quarter ended June 30, 2012. They further demonstrated our long-term commitment to faster product development process and market roll-out of new products. Our R&D capacity and new business development capability constituted the main drivers of the company's growth and will be continuously strengthened in the future to realize our 10-year growth plan. The long-term commitment, based on our market insight, is to secure a leading position for the company in the fertilizer industry," says chairman and CEO Tao Li.nike