XI’AN, China, April 23 /Xinhua-PRNewswire-FirstCall/ -- China Green Agriculture, Inc. (OTC Bulletin Board: CGAG) (“China Green Agriculture” or “the Company”), a leading producer and distributor of humic acid (“HA”) based liquid compound fertilizer through its wholly owned subsidiary, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd., today announced the appointment of Mr. Henry Chen as the Company’s chief financial officer effective April 23, 2008.
Mr. Henry Huan Chen, age 33, worked as the chief financial officer of Vtion Wireless Technology AG, a wireless products developer and distributor in the People’s Republic of China, since October 2007. Mr. Chen supervised its accounting and financing divisions and contributed substantially to the company’s overseas listing process. During the period from December 2006 to October 2007, Mr. Chen assisted and worked with the CEO and COO on accounting and finance and investor communications at Vesta China, the China branch of a US-based wireless online services company. Mr. Chen also worked as a financial controller at Bokee.com from October 2005 to November 2006 and as a manager at IFM Consulting from September 2004 to October 2005, where he was involved in a Sarbanes Oxley 404 project for a NASDAQ listed IT company. Prior to that, Mr. Chen was employed by Ernst and Young/Arthur Andersen’s Beijing Office as a staff/senior auditor from September 1999 until February 2003. Mr. Chen is currently a Level III Chartered Financial Analyst (CFA) candidate, a member of the Association of Chartered Certified Accountants (ACCA) of the UK and a member of the China Institute of Certified Public Accountants (CICPA). In 2004, Mr. Chen graduated from the University of Sydney with a Master’s in Commerce degree in finance and received a Bachelor of Economics in accounting from Zhongnan University of Finance and Economics in 1997.
Mr. Chen will report directly to Mr. Tao Li, China Green Agriculture’s CEO, and will be responsible for overseeing the Company’s overall financial planning, control and reporting activities. He will also be responsible for the Company’s investor relations program.
“As we continue to improve our financial oversight and business practices, we are very excited to work with Mr. Chen, whose background with Chinese companies with an international presence makes him particularly well suited for China Green Agriculture,” commented Mr. Li. “Mr. Chen will be an invaluable addition to our management team, especially as we seek to increase transparency, raise our corporate governance standards and gain more exposure in the US investment community.”
“I am eager to work with Mr. Li to accomplish China Green Agriculture’s goals as a Chinese public company listed in the US,” said Mr. Chen. “I also look forward to working closely with the investment community, communicating high quality public disclosure.”
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 customer 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 June 30, 2007 include Heilongjiang (9.99%), Guangdong (7.81%), Xinjiang (6.59%), Shandong (5.81%), and Henan (5.80%). For more information, visit http://www.cgagri.com .
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 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:
Mr. Tao Li
Chief Executive Officer
China Green Agriculture, Inc.
Tel: +86-29-8826-6368
Email: kingtone@techteam.com.cn
Investor Relations Contact:
Mr. Crocker Coulson
President
CCG Elite Investor Relations
Tel: +1-646-213-1915 (NY Office)
Email: crocker.coulson@ccgir.com
