September 01, 2010 08:00 ET
Yasheng Group Common Stock Begins Trading on the OTCQB Stock Market
REDWOOD CITY, CA--(Marketwire - September 1, 2010) - Yasheng Group (OTCQB: YHGG), is pleased to announce that its shares of common stock are now being quoted on the OTCQB as a U.S. registrant, a market tier for OTC stocks reserved for companies which are fully reporting to the Securities and Exchange Commission.
Chairman Zhou Changsheng commented, "Yasheng Group's subsidiaries have been consistently growing in China for three decades. The upgrade to the OTCQB is a reflection of the growth of our company and recognition of our commitment to our shareholders to provide them with full and complete financial information on a regular basis as required by the United States securities laws and regulations."
Yasheng's move to the OTCQB is in furtherance of its plan to move to a more Senior U.S. securities exchange in the near future. Yasheng continues to examine the steps needed to move to a more senior exchange, and will advise its shareholders of developments as they occur.
About Yasheng Group:
Yasheng Group (OTCQB: YHGG) is a diversified agriculture conglomerate incorporated in California. Yasheng's core business focuses on hi-tech agriculture which takes advantage of Yasheng's use of extensive fertile lands in China, advanced irrigation facilities, extensive green housing, strong R&D, agro, and biotechnology capabilities, as well as its skilled workforce in China. The company conducts business selling 6 major product segments including field crops, vegetables, fruit, specialty crops, hops, hemp, seeds, beef and poultry. Yasheng has total assets of approximately $1.7 billion USD and over 15,000 employees. Yasheng Group has 155,097,355 shares issued and outstanding as of June 30, 2010.
Further information concerning Yasheng Group can be found on the corporate website: http://www.yashenggroup.com/
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.