Yongye International Responds to Misconceptions in Internet Report
BEIJING, Dec. 15, 2011 /PRNewswire-Asia-FirstCall/ -- Yongye International, Inc. (Nasdaq: YONG) ("Yongye (YONG)" 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.
Ms. Kelly Wang
Finance Director Capital Markets
Ms. Wendy Xuan
Phone: +86-10-8232-8866 x 8827
Mr. John Capodanno (U.S. Contact)
Ms. Mingxia Li (China Contact)
SOURCE Yongye International, Inc.