YaSheng Group Reports 2009 First Quarter Financial Results
Published: Jun 08, 2009
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 milestone."
The first quarter financial results are presented as below link: http://www.pinksheets.com/otciq/ajax/showFinancialReportById.pdf?id=21552
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 31, 2008.
Further information concerning Yasheng Group can be found on the corporate website: http://www.yashenggroup.com/
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.
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