XI'AN, China, Dec. 17, 2015 /PRNewswire/ -- China Green
Agriculture, Inc. (NYSE: CGA; "China Green Agriculture", "CGA" 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 subsidiaries in
China, today announced that the
Company's online sales platform www.900nong.com
("900nong.com") exceeded Gross Merchandise Volume
("GMV"*) goal during the November E-Commerce Shopping Carnival in
China (the so called "Double
11"), which is the biggest E-Commerce Shopping Carnival in
China.
The business model of 900nong.com is analogous to T-mall with
specialization in selling basic agricultural materials. 900nong.com
also offers, among others things, agriculture information,
agricultural technology, bulk farm-products and land transfer
information. The purpose of building the platform is to provide
comprehensive services to rural residents from their farmlands to
their everyday life all over the country.
During the Double 11, the 900nong.com received more than 90
thousands shopping orders. The GMV reached RMB 11.1 million (US$ 1.7
million), and had exceeded planned goal by 27%. Among the GMV the agricultural
materials contributed RMB 3.32
million (US$ 0.5 million)
and the living goods and groceries contributed RMB 7.78 million (US$ 1.2
million).
Since 900nong.com came into operation from March 2015, the total GMV reached RMB 33.4million (US$ 5.2 million), among which the agricultural
materials contributed RMB 14.2
million (US$ 2.2 million)
and the living goods and groceries contributed RMB 19.2 million (US$ 3
million).
"It is amazing that 900nong.com exceeded GMV goal during the
Double 11," stated Mr. Tao Li, Chairman and CEO of the Company,
"This is the first time our distributors embraced the Double 11
through the online platform, we got enthusiastic response from our
customers. I believe with the rapid growth of the electronic
economy and the 900nong.com, our
online sales will grow fast in the near future."
*Gross merchandise volume ("GMV") is the total amount settled
through AliPay and Wechatpay on 900nong.com. All 2015 11.11 GMV and
other figures are subject to final auditing following conclusion of
the event.
About 900nong.com
900nong.com is a platform for the distributors of the Company,
where they can set up online shops to promote the Company's
products as well as other kinds of products such as pesticides and
seeds they distribute for various manufacturers. In addition, any
interested companies and individuals are able to set up online
stores on 900nong.com to sell their products through the
website.
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 127
different kinds of fertilizer products through 1,037 distributors
as of September 30, 2015, all of the
products 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. Gufeng, and its wholly-owned subsidiary,
Beijing Tianjuyuan Fertilizer Co., Ltd., produced and sold 332
different kinds of fertilizer products, and had 288 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.
Ms. Ran Liu (English and Chinese)
Tel: +86-29-88266383
Email: liuran@cgagri.com
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SOURCE China Green Agriculture, Inc.