SOURCE: Yasheng Group

March 15, 2011 14:53 ET

Yasheng Reports Record Results for 2010

Fourth Quarter Revenue Rises 27% to $254 Million; Company Expects Fiscal 2011 EPS of $.72 to $.74

REDWOOD CITY, CA--(Marketwire - March 15, 2011) - Yasheng Group (OTCQB: YHGG) (FRANKFURT: YSF), a high-growth diversified-based agricultural conglomerate with U.S. headquarters in California, today reported that revenue for the fourth quarter ended December 31, 2010, rose 27 percent to $254 million compared to $199.8 million for the same period ended December 31, 2009.

The increase in revenue is primarily the result of the increase in fruit and vegetable prices as well as the strong growth of the Chinese economy. The price of potatoes has increased approximately 80 percent month-on-month since October 2009. As to vegetables, prices have surged approximately 60 percent year-on-year since November 2010 on the average. In addition, the company benefited from increased market share as a result of its expanded distribution channels. The company also benefitted from the year-end holiday selling seasons in China.

In commenting on the results, Chairman Zhou Chang Sheng stated, "Besides price increases in agricultural products, our strong fourth quarter financial performance is mainly due to our focus on meeting market needs and our employees' solid execution. I am proud of our employees and thank them for the outstanding job they have done throughout the whole year."

2011 expected to be strong

Additionally, the company expects earnings per share for fiscal 2011 to fall in the range of $.72 to $.74, with sales expected to reach $976 million.

Concluding, Mr. Zhou Chang Sheng said, "We anticipate delivering another strong year this year with increases in both revenues and earnings growing in the range of 15%. We will remain focused on meeting the demands of the Chinese marketplace while expanding our footprint throughout the world. Finally, we owe our continued success to our employees whose commitment to excellence will enable Yasheng to continue generating increases in sales and earnings."

Yasheng Group

Yasheng Group (OTCQB: YHGG) (FRANKFURT: YSF), (, 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