BEIJING, Oct. 13 /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 the number of independently-owned, branded stores selling Yongye's Shengmingsu products increased 40% to approximately 7,000, during the third quarter that ended on September 30, 2009.
Yongye's branded store network enables the Company to rapidly penetrate rural Chinese markets and further promote strong brand awareness and recognition through marketing and education at the village level. These independently-owned stores feature prominent Yongye branding on the storefront and premium in-store displays. Yongye supports its distributor and branded store network with targeted local advertising and product education campaigns to assist in driving traffic to these rural stores.
"We believe the continued fast growth of our branded store network is a testament to the strength of our Shengmingsu brand, the uniqueness of our sales and marketing model, and the strong local support of our distribution partners," said Mr. Zishen Wu, CEO of Yongye International, Inc. "During the third quarter, we experienced significant growth in the number of new stores joining the Yongye branded store network in provinces outside our traditional northern markets, such as Hubei, Henan, Hunan, Jiangsu, and Shandong, which are in central and southern China. This swift penetration of new markets reflects the growing influence of the Shengmingsu brand across China and the success of the Company's marketing campaign outside its traditional top four provinces. The expansion of our network positions Yongye for sustained rapid growth in the years to come."
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