XI'AN, China, Aug. 5, 2013 /PRNewswire-FirstCall/ -- China Green Agriculture, Inc. (NYSE: CGA; "China Green Agriculture", "we" or the "Company"), a company that mainly produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its wholly-owned subsidiaries in China, today announced that, one of the Company's wholly-owned subsidiaries organized under the laws of the PRC, Beijing Gufeng Chemical Products Co., Ltd. ("Gufeng"), has signed a cooperation agreement with Anhui Diyuan Biological Technology Co., LTD ("Anhui Diyuan") to produce a new advanced high efficiency fertilizer -- "Tianjuyuan" control release compound fertilizer.
Affiliated with the Chinese Academy of Sciences ("CAS")'s Material Science Research Institute, Anhui Diyuan is committed to developing innovative bioengineering products. Its mainstream products include a fertilizer nutrient control release agent (the "Fertilizer Agent"). Anhui Diyuan owns a number of patents of the Fertilizer Agent.
The objective of this cooperation agreement is to have Gufeng produce the control release compound fertilizer by using the Fertilizer Agent supplied by Anhui Diyuan to improve the control release effectiveness of Gufeng's compound fertilizer. In the agreement, CAS and Anhui Diyuan authorized Gufeng to reference CAS and Anhui Diyuan's name and brand in marketing related to fertilizer products.
"We are happy that Gufeng has entered this cooperation agreement with Anhui Diyuan Biological Technology Co., Ltd," stated Mr. Tao Li, Chairman, President and Chief Executive Officer of the Company. "We expect that the new cooperation will help Gufeng's control release compound fertilizer become more competitive in the control release market."About China Green Agriculture, Inc. The Company mainly produces and distributes humic acid-based compound fertilizers, other varieties of compound fertilizers and agricultural products through its wholly-owned subsidiaries, i.e.: Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. ("Jinong"), Beijing Gufeng Chemical Products Co., Ltd. ("Gufeng") and Xi'an Hu County Yuxing Agriculture Technology Development Co., Ltd. ("Yuxing"). Jinong produced and sold 134 different kinds of fertilizer products as of June 30, 2013, all of which are certified by the PRC government as Green Food Production Materials, as stated by the China Green Food Development Center. Jinong currently markets its fertilizer products to private wholesalers and retailers of agricultural farm products in 27 provinces, four autonomous regions, and three central-government-controlled municipalities in the PRC. Jinong had 826 distributors in China as of June 30, 2013. Gufeng, and its wholly-owned subsidiary, Beijing Tianjuyuan Fertilizer Co., Ltd., are Beijing-based producers of compound fertilizer, blended fertilizer, organic compound fertilizer, and mixed organic-inorganic compound fertilizer. As of June 30, 2013, Gufeng produced and sold 320 different kinds of fertilizer products, and had 201 distributors in China. For more information, visit http://www.cgagri.com. The Company routinely posts important information on its website. Safe Harbor Statement This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 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, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, a satisfactory conclusion of the pending securities class action litigation and various other factors beyond the Company's control. All forward-looking statements are expressly qualified in their entirety by this Safe Harbor Statement and the risk factors detailed in the Company's reports filed with the SEC. 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, except as required by applicable law or regulations.
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