Xi’an, China-China Green Agriculture Inc., a Chinese-based fertilizer company, on Jan. 12 responded to U.S. Securities and Exchange Commission inquiries. “Recently, allegations about the business of China Green Agriculture were circulated by admitted short sellers, who will profit if the stock price of China Green Agriculture declines,” the company said in a statement. “The reports containing these allegations are largely inaccurate. The company’s outside U.S. legal counsel, in response to an informal inquiry by the U.S. Securities and Exchange Commission (SEC), has voluntarily provided a comprehensive report on selected issues that were of interest to the SEC to the Los Angeles Office of the SEC. China Green Agriculture will continue to cooperate with the SEC on this matter.” Allegations have been that the company has not accurately reported its financial results. China Green, which is publicly traded in the U.S., mainly produces and distributes humic acid- (HA) based compound fertilizers and other varieties of compound fertilizers through its wholly-owned subsidiaries, Shaanxi TechTeam Jinong Humic Acid Product Co., Ltd. (Jinong) and Beijing Gufeng Chemical Products Co., Ltd. (Gufeng). It currently has 740 distributors covering 21 provinces, four autonomous regions, and three central-government-controlled municipalities in the PRC.
Transparency Across the Fertilizer Value-Chain