China Green Agriculture's previous production capacity was 10,000 metric tons per year. The completion of the upgrade will enable the Company to produce up to 15,000 metric tons of HA liquid fertilizer per year. The technical and software upgrades will also enable the Company to produce higher quality HA fertilizer at a more efficient rate.
"Based on our extensive distribution network, strong marketing efforts and
sustained market demand for our green fertilizer products, we expect that our
increased capacity will be quickly absorbed by the Chinese fertilizer market.
This expansion will be China Green Agriculture's primary growth driver for the
fiscal year ending
About China Green Agriculture, Inc.
China Green Agriculture, Inc. produces and distributes humic acid ("HA") based liquid compound fertilizer through its wholly owned subsidiary, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., ("TechTeam"). TechTeam produces and sells approximately 10,000 metric tons of over 100 different kinds of fertilizer products per year. All of TechTeam's fertilizer products are certified by the PRC government as green products and suitable for growing Grade AA "green" foods, also known as green products that contain little or no chemical materials, as stated by the China Green Food Research Center. TechTeam's fertilizers are highly concentrated liquids which require an application of approximately 120 ml per mu per application. Its average end user has approximately four mu of land (one mu = .165 acres).
China Green Agriculture currently markets its fertilizer products to
private wholesalers and retailers of agricultural farm products in 27
provinces in the PRC. The leading five provinces by revenue for the fiscal
year ended
Cautionary 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 Cautionary Statement and the risk factors detailed in the Company's reports filed with the Securities and Exchange Commission. 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.
For more information, please contact:
Company Contact:
Ms. Ying Yang
Chief Financial Officer
China Green Agriculture, Inc.
Tel: +1-626-623-2575
Email: yangying@techteam.com.cn
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Investor Relations
Tel: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com
Graham Reed, Financial Writer
Tel: +1-646-213-1907 (NY Office)
Email: graham.reed@ccgir.com
Web: http://www.ccgirasia.com
SOURCE China Green Agriculture, Inc.