SOURCE: Yasheng Group

December 01, 2005 09:00 ET

YaSheng Group Reports Third Quarter Revenues of US $ 172,602,227

REDWOOD CITY, CA -- (MARKET WIRE) -- December 1, 2005 -- YaSheng Group (OTC: YHGG), with third quarter revenues of US $172,602,227 published today details of its financial results for the third quarter of 2005.

For the third quarter ending September 30, 2005, the company's revenues rose to US $172,602,227 with net earnings decreasing to US $ 14,377,302, or .09 per share, versus .11 per share for the same quarter in 2004, based on 155,097,355 issued and outstanding shares.

For the nine months ending September 30, 2005, net earnings increased to US $ 50,681,944 or .33, versus .32 per share for the same period in 2004.

The decrease in earnings in the 3rd quarter is mainly due to an increase in Cost of Goods Sold of US $ 7,091,200. This increase is directly related to the record high cost of fuel and petroleum based products during this quarter.

Full details of the financial results for the period ending September 30, 2005 are published at: https://www.otcstockinfo.com/repository/

About YaSheng Group:

The YaSheng Group (OTC: 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 its 136 subsidiaries, the company operating categories include: chemical engineering, agricultural production, biotech, pharmaceuticals, textile products, printing and dyeing, commercial trading, beverages and inorganic salt manufacturing. 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
    (650) 363-8345
    Email Contact