BEIJING, Dec. 15, 2011 /PRNewswire-Asia-FirstCall/ --
Yongye International, Inc. (Nasdaq: YONG) ("Yongye" or the
"Company"), a leading developer, manufacturer, and distributor of
crop nutrient products in the People's
Republic of China ("PRC"), today responded to misconceptions
regarding its business contained in a report posted Tuesday on the
website Seeking Alpha by Prescience Investment Group. The author is
an admitted short seller and specifically disclaims any warranty of
the accuracy of what it published about Yongye. The allegations in
the report are false, misinformed, and misleading. Yongye has
previously, on several occasions -- in public filings and on
publicly accessible conference calls -- addressed all of the issues
raised by this report. However, investors can refer to the FAQ
section of Yongye's investor relations site
(http://www.yongyeintl.com/FAQ.html) in order to view a detailed
response to each of the specific assertions in the report.
Yongye is committed to transparency and best practices regarding
all matters pertaining to corporate governance and stands by its
distribution model, which continues to deliver positive results for
the business. Further, the Company is proud to have Morgan Stanley
Private Equity Asia (MPSEA) as an active partner that is committed
to helping drive Yongye's business forward and ultimately enhance
shareholder value for all investors.
About Yongye International
Yongye International is a leading crop nutrient company
headquartered in Beijing, with its
production facilities located in Hohhot, Inner Mongolia,
China. Yongye's principal product
is a liquid crop nutrient, from which the Company derived
substantially all of the sales for the nine months ended
September 30, 2011. The Company also
produces powder animal nutrient product which is mainly used for
dairy cows. Both products are sold under the trade name
"Shengmingsu," which means "life essential" in Chinese. The
Company's patented formula utilizes fulvic acid as the primary
compound base and is combined with various micro and macro
nutrients that are essential for the health of the crops. The
Company sells its products primarily to provincial level
distributors, who sell to the end-users either directly or
indirectly through county-level and village-level distributors. For
more information, please visit the Company's website at
www.yongyeintl.com.
Contacts
Yongye International
Ms. Kelly Wang
Finance Director – Capital Markets
Phone: +86-10-8231-9608
E-mail: ir@yongyeintl.com
Ms. Wendy Xuan
Business Associate
Phone: +86-10-8232-8866 x 8827
E-mail: ir@yongyeintl.com
FTI Consulting
Mr. John Capodanno (U.S.
Contact)
Phone: +1-212-850-5705
E-mail: john.capodanno@fticonsulting.com
Ms. Mingxia Li (China
Contact)
Phone: +86-10-8591-1060
E-mail: mingxia.li@fticonsulting.com
SOURCE Yongye International, Inc.