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May 11, 2009 - Yongye Biotechnology International, Inc. (OTC Bulletin Board:
YGYB) ("Yongye" or the "Company"), a leading developer and distributor
of plant and animal nutrient products located in the People's Republic of China,
today announced its financial results for the quarter ended March 31, 2009.
"We are pleased to report another quarter of growth for the three month period
ended March 31, 2009. The first quarter of every year is normally one of the
slowest periods of the year for our product sales. However, an expanded sales
network and lower operating expenses allowed us to begin 2009 with revenue and
earnings growth," said Mr. Zishen Wu, Chief Executive Officer of Yongye.
Revenue was $12.4 million in the quarter ended March
31, 2009, an increase of 30.5% from $9.5 million in the same period of 2008.
There was a 32.0% increase in plant product revenue and a 22.0% increase in
animal product revenue in the quarter.
About Yongye Biotechnology International, Inc.
Yongye Biotechnology International, Inc., headquartered in Beijing, is
engaged in the development and distribution and sales of fulvic acid based
nutrients for plants and animals. The Company's patent pending processes and
proprietary formulas allow it to create products, which increase crop yields and
improve the health of livestock. Its sole operating subsidiary, Yongye Nongfeng
Biotechnology Company, Ltd., is located in Inner Mongolia. The Company sells its
products through distributors and directly to farmers located in ten provinces
throughout China.
Contact:
Yongye Biotechnology International, Inc.
Mr. Larry Gilmore-VP of Corporate Strategy
Tel: +1-818-390-1272
Email: larry.gilmore@gmail.com
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