Yasheng Group 3Q net income, net sales increase
Nov. 17, 2011
REDWOOD CITY, Calif. – Yasheng Group announced for its third quarter ended Sept. 30, net income increased to $38.1 million, or $.25 per basic share, from $31.7 million or $.20 per basic share for the prior-year period. Net sales increased by $42 million, or 17.9 percent, to $277.8 million, compared to $235.6 million for the three months ended Sept. 30, 2010.
Yasheng Group is a US holding company that conducts primarily agricultural operations in Northwest China. It is one of China's leading producers and marketers with six major product segments including beef and poultry. Yasheng is a supplier of agricultural products to McDonald's and KFC, among other major conglomerates.