SOURCE: Yasheng Group

May 16, 2007 08:00 ET

YaSheng Group Releases 2006 Year End Financial Results

REDWOOD CITY, CA -- (MARKET WIRE) -- May 16, 2007 -- YaSheng Group (PINKSHEETS: YHGG) published today its 2006 year end financial statements.

For the year ending December 31, 2006, the company's operating revenues rose to $648,054,466 and net earnings per share increased to .41 per share.

The company previously announced that it would withhold the financial statements until audits were completed under the more rigid recently implemented American standards of auditing but due to many shareholders requesting to see the statements based on the previous accounting policies, these statements have been released.

Full details of the financial results for the period ending December 31, 2006 can be viewed on the Internet at: http://yashenggroup.com/index-2.html

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, 2006.

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 Contact: Email Contact