XI'AN, China, May 11, 2016
/PRNewswire/ -- China Green Agriculture, Inc. (NYSE: CGA;
"China Green Agriculture" or the "Company"), a company mainly
produces and distributes humic acid-based compound fertilizers,
other varieties of compound fertilizers and agricultural products
through its subsidiaries in China, today announced the
appointment of Zhuoyu Li (Richard),
Mr. Tao Li's son, as the Company's President. Mr. Tao Li resigned
from his President position on May 5,
2016 but will continue to serve as the Company's CEO and
Chairman. The appointment of Richard was approved by the Company's
nominating committee.
Zhuoyu Li (Richard), has four years of
experience in agricultural industry. Prior to joining our Company,
Mr. Li had served as Chief Operating Officer at the Company's
affiliate, 900LH.com Food Co., Ltd. ("900LH.com") since
January 2016. From January 2015 to January
2016, Mr. Li served as a senior manager at the international
department of 900LH.com, where he helped to develop international
market. Richard served as a senior manager at the customer center
of 900LH.com from March 2013 through
January 2015. He studied business at
the University of Auckland in
2012.
"We believe Richard will be a great
leader at Company and I am glad to have my son as co-pilot to run
the business with me," said Mr. Tao Li, "I look forward to working
closely with Richard as we continue to enhance our business and
enter into the next phase of growth."
About China Green Agriculture, Inc.
The Company 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 a
variable interest entity, Xi'an Hu County Yuxing Agriculture
Technology Development Co., Ltd. ("Yuxing"). Jinong produced and
sold 130 different kinds of fertilizer products as of March 31, 2016, all of which are certified by the
government of the People's Republic of
China (the "PRC") 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 1,064 distributors in the PRC
as of March 31, 2016. Gufeng, and its
wholly-owned subsidiary, Beijing Tianjuyuan Fertilizer Co., Ltd.,
are Beijing-based producers of
compound fertilizers, blended fertilizers, organic compound
fertilizers, and mixed organic-inorganic compound fertilizers. As
of March 31, 2016, Gufeng produced
and sold 332 different kinds of fertilizer products, and had 299
distributors in the PRC. 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.
For more information, please contact:
China Green Agriculture, Inc.
Mr. Fang Wang (English and
Chinese)
Tel: +86-29-88266500
Email: wangfang@cgagri.com
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/china-green-agriculture-appoints-zhuoyu-li-as-new-president-300266939.html
SOURCE China Green Agriculture, Inc.