REDWOOD CITY, CA--(Marketwire - June 08, 2009) - Yasheng Group (PINKSHEETS: YHGG), a
leading agriculture company focused on the China market, today reported
financial results for the three months ended March 31, 2009.
For the first quarter ended March 31, 2009, revenue increased 2.7% to
$168.1 million, compared to $163.5 million for the first quarter of 2008.
Net income was $17.1 million, or $0.11 per share, for the first quarter of
2009, compared with net income of $16.6 million, or $0.11 per share, for
the first quarter of 2008.
Mr. Changsheng Zhou, Chairman of the Company, said, "Our business remains
strong regardless of the recent worldwide economic downturn. At the same
time, we are happy that we are making solid progress with our listing
efforts, and expect to update our investor community once we reach the next
The first quarter financial results are presented as below link:
About Yasheng Group:
Yasheng Group (PINKSHEETS: YHGG) is a diversified agriculture conglomerate
incorporated in California, operating hi-tech agriculture as its core
business with advantages in rich land, advanced irrigation facilities,
strong R&D, agro, and biotechnology capabilities, as well as its competent
workforce in China. The company operates 6 major product segments including
field crops, vegetables, fruit, specialty crops, seeds, and poultry. With
total assets of approximately $1.7 billion USD and over 15,000 employees,
Yasheng Group has 155,097,355 shares issued and outstanding as of December
Further information concerning Yasheng Group can be found on the corporate
Certain statements contained in this press release are forward-looking
statements that involve risks and uncertainties. The statements contained
herein that are not purely historical are forward-looking statements within
the meaning of Section 27A of the Securities Act of 1933, as amended and
Section 21E of the Securities Exchange Act of 1934, as amended.