SOURCE: Yasheng Group

Yasheng Group

August 09, 2011 14:28 ET

Yasheng Group Reports Second Quarter Financial Results

REDWOOD CITY, CA--(Marketwire - Aug 9, 2011) - Yasheng Group (OTCQB: YHGG) (PINKSHEETS: YHGG) (XETRA: YSF), a high-growth diversified China-based agricultural company with US headquarters in California, today announced results for the second quarter ended June 30, 2011.

For the three months ending June 30th, 2011, our net sales and gross profit were $180.4 million and $19.9 million respectively with EPS of $.12.

Chairman Zhou Changsheng commented, "Our financial performance for the second quarter was in line with expectations. A higher-than-normal share of this year's inventory was sold in the first quarter due to favorable pricing at the time. We have achieved steady overall revenue and earnings growth so far this year and expect a strong second half of 2011 as the harvest season begins."

Yasheng Group

Yasheng Group (OTCQB: YHGG) (PINKSHEETS: YHGG) (XETRA: YSF) (www.yashenggroup.com), founded over 30 years ago, is a US holding company that conducts primarily agricultural operations in the Northwest of China. Today it is one of China's leading producers and marketers with six major product segments including field crops, vegetables, fruit, specialty crops, hops, hemp, seeds, beef and poultry. Yasheng is a supplier of high-quality agricultural products to world-famous conglomerates such as McDonald's, KFC, Tsingtao Beer, and Pepsi. The company is lead by a highly qualified management team and it has total assets of approximately $1.7 billion, over 15,000 employees, and a history of strong sales and earnings growth.

Safe Harbor Statement

Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are discussed in the company's various filings with the Securities and Exchange Commission. The company assumes no obligation to update these forward-looking statements.

Contact Information

  • Contact:

    Yasheng Group
    IR Department
    (650) 363-8345
    (866) YASHENG