SOURCE: China Modern Agricultural Information, Inc.
HARBIN, CHINA--(Marketwire - Sep 6, 2012) - China Modern Agricultural Information, Inc. (OTCBB: CMCI) ("China Modern" or the "Company"), a high-tech livestock company specializing in the breeding of cows and calves, the production and sale of milk and the sale of organic fertilizer, has begun to harvest 4,160 acres of grass to prepare its winter feed reserve. The harvest will provide a full winter feed supply of nearly 5,000 tons for the Company's livestock herd.
Youliang Wang, CEO of China Modern, stated, "The feed reserve will enable us to maintain the health and quality of our herd throughout the winter season. By securing our winter feed supply well ahead of time, we were able to lock in cost savings of 4.2%, or approximately $0.4 million. The cost savings generated by our winter feed reserve will add approximately $0.3 million in net income for fiscal 2013. As we continue to expand under our new business model, we remain committed to reducing our operating costs and growing value for our shareholders."
About China Modern Agricultural Information, Inc.
China Modern Agricultural Information, Inc. is a high-tech livestock company specializing in the breeding of cows and calves, the production and sale of milk, the sale of organic fertilizer, as well as the promotion of agricultural information. For more information please visit http://www.hljzhongxian.com/zx/eng_zx.
Cautionary Statement Regarding Forward-Looking Information
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 8K/A dated March 31, 2011, and other recent filings. These filings are available at http://www.sec.gov/.