BEIJING, April 14 /PRNewswire-Asia/ -- Yongye Biotechnology International, Inc. (OTC Bulletin Board: YGYB; "Yongye" or the "Company"), a leading distributor of plant and animal nutrient products located in the People's Republic of China, today announced the appointment of Mr. Sean Shao to serve as an Independent Director on the Company's Board of Directors and as Chairman of Yongye's Audit Committee. Both appointments will be effective as of April 10, 2009.
"It is our pleasure to have Mr. Shao join Yongye's Board of Directors and become Chairman of our Audit Committee. He brings firsthand financial experience with Chinese companies listed on US stock exchanges to the work of our board," said Mr. Zishen Wu, CEO of Yongye Biotechnology International, Inc. "We look forward to Mr. Shao helping us improve our corporate oversight and governance policies, increasing our transparency to the investment community. His appointment as an Independent Director also brings Yongye a step closer to meeting the requirements for being listed on a senior US stock exchange."
Mr. Shao currently serves as a Director and is Chairman of the Audit Committees for China Public Security Technology, Inc., China Biologic Products, Inc., and China Nuokang Bio-Pharmaceutical, Inc. He also serves as a Director and is Chairman of the Compensation Committee for Agria Corporation. Previously, Mr. Shao was Chief Financial Officer of Trina Solar Limited, ChinaEdu Corporation, and Watchdata Technologies, Ltd. Mr. Shao worked as an Audit Senior Manager at Deloitte & Touche in their Beijing and Toronto offices for ten years beginning in 1994. Mr. Shao received a Master's degree in Health Care Administration from the University of California at Los Angeles in 1988 and a Bachelor's degree in art from East China Normal University in 1982. He is a member of the American Institute of Certified Public Accountants.
About Yongye Biotechnology International, Inc.
Yongye Biotechnology International, Inc., headquartered in Beijing, is engaged in the distribution and sales of fulvic acid based nutrients for plants and animals. The Company's patent pending processes and proprietary formulas allow it to create products that increase crop yields and improve the health of livestock. Its sole operating subsidiary, Yongye Nongfeng Biotechnology Company, Ltd., is located in Inner Mongolia, People's Republic of China. The Company sells its products through distributors and directly to farmers located in ten provinces throughout China.
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.
For more information, please contact:
Yongye Biotechnology International, Inc.
Mr. Larry Gilmore-VP of Corporate Strategy
Phone: +86-8232-8866 x8880
Email: larry.gilmore@gmail.com
CCG Investor Relations, Inc.
Mr. Crocker Coulson, President
Phone: +1-646-213-1915 (New York)
Email: crocker.coulson@ccgir.com
Web: http://www.ccgirasia.com
