SOURCE: Yasheng Group

June 13, 2006 08:00 ET

YaSheng Group Releases 2006 First Quarter Financial Results

REDWOOD CITY, CA -- (MARKET WIRE) -- June 13, 2006 -- YaSheng Group (PINKSHEETS: YHGG) published today its 2006 first quarter financial statements.

For the first quarter ending March 31, 2006, the company's operating revenues rose to US$150,048,306 from $145,468,850 in the same period in 2005 and net earning per share remained at .09 per share.

Chairman Zhou stated that YaSheng's growth did not keep pace with the overall growth of China due to "our investing more in new technology than in our main revenue sources. We expect in the years to come that our growth will far exceed that of China as a result of the technologies we have developed in areas such as energy and pharmaceuticals."

Full details of the financial results for the period ending March 31, 2006 can be viewed on the Internet at: http://www.pinksheets.com/quote/finance.jsp?symbol=YHGG

About YaSheng Group:

The YaSheng Group (PINKSHEETS: YHGG) is a diversified industrial conglomerate incorporated in Redwood City, California, operates in hi-tech agriculture, salt chemistry and biological technology as its core Business with advantages in rich land, mineral resources, capital and technology reserves.

Through three major industries, Agriculture, Chemical, and Biotechnology, the company's operating categories include: chemical engineering, agricultural production, biotech, pharmaceuticals, textile products, printing and dyeing, commercial trading, beverages and inorganic salt manufacturing. With total assets of approximately $1.5 billion USD and over 15,000 employees, YaSheng Group has 155,097,355 shares issued and outstanding as of December 1, 2004.

Further information concerning YaSheng Group can be found on the corporate website: http://www.yashenggroup.com/

Forward-Looking Statements:

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.

Contact Information

  • Contact:
    YaSheng Group
    Investor Relations:
    Tel: 650-363-8345
    E-mail: Email Contact