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China Green Agriculture, Inc. Launched Two New Fertilizer Products
Jan. 28, 2013
XI'AN, China-- China Green Agriculture, Inc., a company mainly produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its wholly-owned subsidiaries in China, announced that it launched two new fertilizer products and added 12 new distributors in the second quarter ended December 31, 2012.
The two new fertilizer products, one broad-spectrum fertilizer product and one functional fertilizer product , were launched by Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd, the Company's fertilizer operating subsidiary in Shaanxi province ("Jinong") during the second quarter ended December 31, 2012. The launch of the two new products brought the total number of Jinong's fertilizer products in use to 131.
The management estimated the two new products contributed approximately RMB872, 500 (approximately $138,291) to Jinong's revenues during the quarter. Jinong also added 10 new distributors during the quarter, which brought the total number of Jinong's distributors to 789. These new distributors contributed approximately RMB2, 514,030 (approximately $398,474) to Jinong's revenues during the quarter. During the three months ended December 31, 2012, Jinong's revenues attributable both to Jinong's new distributors and new products were RMB160, 000 (approximately $25,360).
Beijing Gufeng Chemical Products Co., Ltd., the Company's fertilizer operating subsidiary in Beijing ("Gufeng") added two new distributors during the quarter, which brought the total number of Gufeng's distributors to 189. These two new distributors contributed approximately RMB284, 402 (approximately $45,078) to Gufeng's revenues for the quarter ended December 31, 2012.
"Thanks to our R&D team, we successfully launched these two new fertilizer products during the quarter. These two new fertilizer products had brought our total number of fertilizer products to 448. Meanwhile, we appreciate our marketing team's effort to the ongoing business expansion, which brought our total number of distributors to 978 as of the end of the quarter," said Mr. Tao Li, the Company's Chairman and CEO.
Source: PRNewswire
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