3. China Green Agriculture (CGA), operating through its wholly owned subsidiaries, engages in the research, development, production and sale of fertilizers and agricultural products in China. Through its five subsidiaries, it is mainly involved in fertilizer products.
China Green's board of directors recently approved the company's 2011-2020 corporate growth plan, underpinning the company's objective of emerging as a leader in the overall fertilizer industry in China by 2020. In terms of revenue, the company targets to reach $750 million by 2015 and $3 billion by 2020. In addition, China Green is seeking to establish the National Engineering Research Center of Humic Acid-based Fertilizers of China, expand its market share and build brand awareness.
For fiscal second-quarter 2011, the company's net sales increased 216.1%, to $35.3 million, while net income soared 32%, to $6.2 million, or 24 cents per share. For the third quarter, the company's revenue guidance is between $41.8 million and $43.6 million, with earnings per share in the range of 31 cents to 32 cents.Heading into 2011, China Green's revenue guidance is $155 million to $165 million due to the large export contract signed by subsidiary Gufeng this year. Gufeng recently signed an export contract with Sinoagri Holding, one of the largest domestic fertilizer traders in China, for exporting 165,000 tons of binary acid compound fertilizer products to India. The first delivery is scheduled for late May 2011. All four analysts covering the stock recommend a buy. Analysts polled by Bloomberg expect the stock to gain an average 19.6% to $8.3 in the upcoming 12 months.
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