BEIJING, Nov. 2 /PRNewswire-Asia/ -- Yongye International, Inc. (Nasdaq: YONG), ("Yongye or "the Company") a leading manufacturer, developer and distributor of Shengmingsu brand plant and animal nutrient products in the People's Republic of China (PRC), today announced that one of the independently-owned Yongye branded stores set a new, single store, one-day sales record for Shengmingsu branded plant products.
In April 2009, a store in Qianjiang City, Hubei Province, as part of a distributor promotional event, set the previous one-day sales record by selling 15,310 bottles of Shengmingsu for approximately $30,000. On October 30, 2009 a different store in Qianjiang City, as part of a promotional event, set a new record by selling 25,163 bottles for approximately $50,000. There were approximately 7,000 independently owned stores in Yongye's distribution network at the end of the third quarter of 2009.
"While October is typically a slow sales season for Shengmingsu, as compared to the months in the second and third quarters of the year, we believe our new one-day sales record further validates the strong brand recognition of our Shengmingsu products, particularly in central China, and particularly as part of more recently developed branded store areas," said Mr. Zishen Wu, CEO of Yongye International, Inc. "As we continue to grow our presence in central and southern China, we are confident that our unique branded store distribution model and comprehensive marketing campaign will enable us to replicate the success that we have achieved in our existing markets."
About Yongye International, Inc.
Yongye International, Inc., headquartered in Beijing, is engaged in the manufacturing, development, distribution and sales of Shengmingsu brand plant and animal nutrient products. The Company's patented and patent pending formulas and proprietary extraction processes allow it to create products that increase crop yields and improve the health of livestock. Its sole operating subsidiary, Inner Mongolia Yongye Nongfeng Biotechnology Co., Ltd., is headquartered in Beijing with administrative and sales offices located in Inner Mongolia, People's Republic of China. For more information, please visit the Company's website at http://www.yongyeintl.com .
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 International, Inc.
Mr. Larry Gilmore-VP of Corporate Strategy
Phone: +86-10-8232-8866 x8880
Email: larry.gilmore@yongyeintl.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
