Message #1 From:
NewsBot Date: February 20, 2008 07:12:03 AM
China Agri-Business Expands Organic Product Line With the Introduction of Three New Applications at Leading Agriculture Trade Show
Launch Generates Orders in Excess of $1.3 Million
China Agri-Business, Inc. (OTCBB: CHBU) today
announced the successful introduction of three new organic ("green")
products at the 23rd annual "China Agriculture Fertilizer and Machine Trade
Show" held in Ningbo, China. The two-day show, which featured
approximately 4,000 enterprises and was attended by 150,000 people,
resulted in orders to the Company in excess of 10 million RMB
(approximately $1.3 million) for 2008.
The three new products being added to China Agri's existing 51-product
organic biochemical agricultural application product line are described
below.
-- Xinsheng Huang-jin-gai: Designed to facilitate the absorption of calcium by, and to improve the quality of, crops. Its primary ingredient is amino acid calcium.
-- Xinsheng Jia-tian-xia: An organic potassium fertilizer designed to help farmers to improve the quality and increase crop production.
-- Xinsheng Bai-le: Designed to provide supplementary micro-nutrients to crops and to help crops grow with a balanced nutrition.
Unlike many of the Company's current products, each of these new products
can be used on a broad range of crops and can be used extensively
throughout China.
Following the announcement of the new product introduction, Liping Deng,
President and CEO of China Agri-Business, stated, "We are quite pleased
with the positive response to these products. We are continually working
to increase the depth of our product line, both through internal
development and acquisition, in our efforts to establish the Company as a
leader in China's growing organic agricultural application sector."
China Agri-Business completed its Initial Public Offering on October 17,
2007.
ABOUT CHINA AGRI-BUSINESS, INC.
China Agri-Business, Inc., through its subsidiary, Shaanxi Xin Sheng
Centennial Agriculture and Technology Co., Ltd., is an emergent developer,
PRC-approved manufacturer, and marketer of organic biochemical agricultural
application products in China. Categorized into two primary product groups,
China Agri-Business products include organic fungicides (Xinsheng Luyuan)
and bactericides (Xinsheng Lufeng).
Within these categories China Agri-Business produces more than 50 different
proprietary applications. Products in these lines function as a botanical
growth and vitality stimulant, as a soil conditioner and as a plant
nutrient supplement. They prevent and cure plant diseases and eliminate
parasites and can be applied to a wide variety of food and non-food crops,
including potatoes, vegetables, cotton and fruit plants and trees orchards.
They are used either alone or to supplement traditional fertilizer
products. The Company owns and manages its own manufacturing facilities and
has an established distribution network, serviced by 50 dedicated sales
professionals. Products are primarily sold through distributors in 14
provinces throughout China.
Safe Harbor
Certain statements in this release concerning our future growth prospects
are forward-looking statements, within the meaning of Section 27A of the
U.S. Securities Act of 1933, as amended, and Section 21E of the U.S.
Securities Exchange Act of 1934, as amended, which involve a number of
risks and uncertainties that could cause actual results to differ
materially from those in such forward-looking statements. The risks and
uncertainties relating to these statements include, but are not limited to,
risks and uncertainties regarding the success of our investments, risks and
uncertainties regarding fluctuations in earnings, our ability to sustain
our previous levels of profitability including on account of our ability to
manage growth, intense competition, wage increases in China, our ability to
attract and retain highly skilled professionals, time and cost overruns on
fixed-price, fixed-time frame contracts, client concentration, our ability
to successfully complete and integrate potential acquisitions, withdrawal
of governmental fiscal incentives, political instability and regional
conflicts and legal restrictions on raising capital or acquiring companies
outside China. Additional risks that could affect our future operating
results are more fully described in our United States Securities and
Exchange Commission filings including our SB-2 dated July 12, 2007, and
Quarterly Report on Form 10-Q for the quarter ended June 30, 2007, and our
other recent filings. These filings are available at www.sec.gov. We may,
from time to time, make additional written and oral forward-looking
statements, including statements contained in our filings with the
Securities and Exchange Commission and our reports to shareholders. We do
not undertake to update any forward-looking statements that may be made
from time to time by or on our behalf.
