yasheng group (HERB) Key Developments
YaSheng Group announced delayed 10-Q filing
May 14 15
On 05/14/2015, YaSheng Group announced that they will be unable to file their next 10-Q by the deadline required by the SEC.
Yasheng Group Joint Venture with Inner Mongolia Meng Yuan Agriculture Company
Jul 17 14
Yasheng Group announced that it has entered into a joint venture agreement with Inner Mongolia Meng Yuan Agriculture Co. Ltd. The purpose of the joint venture is to create a new industrial hemp plantation and develop hemp products for domestic and export markets. The project is located in the Bayinnaoer Region of Inner Mongolia on 110,000 acres of agricultural land. The first year expected planting area is approximately 5,000 acres, second year is 10,000 acres, and the third year is 30,000 acres. Yasheng Group is responsible sales and marketing and providing seeds, seedlings, planting techniques, and fertilizer. Meng Yuan is responsible for the daily management of the crops including pruning, watering, fertilization, and weeding.
Yasheng Group Joint Venture With Natural Capital Investment Ltd
Apr 16 14
YaSheng Group and Natural Capital Investment Ltd. (formerly known as Lemco Investments) announced that following the change of name of the latter's operation (now referred to as 'Natcap') and in accordance with the spirit of the memorandum of understanding and the joint venture term sheet it had entered into with Yasheng Group in 2013, they have now adjusted all the relevant documentation accordingly to reflect the change of name and the two companies are taking all the necessary steps to complete the relevant documentation to be able to start a joint operation to conduct the acquisition, development and commercialization of land-based assets representing high value both in terms of income and positive eco-social impacts in the developing world, Latin America in particular. The proposed joint venture that now enters into its final phase aims to set a unique landmark model of sustainable development led by a private initiative which has the prospect of being both profitable and socially responsible. It shall aim to secure access to land and exclusive commercial rights on assets such as timber, agriculture, forestry carbon, minerals, aquaculture and environmental services, amongst others. The announced joint venture, once completed, will for the first time facilitate the fostering of avoided deforestation and reforestation initiatives through the prospective trading of forestry carbon credits in the far east, China in particular, thereby procuring a sound solution for the reduction and/or offsetting of carbon emissions and at the same time securing an effective contribution to the protection of thousands of hectares of forests under threat and the survival of the communities and ecosystems who are entirely dependent on those forests.
YaSheng Group Announces Earnings Results for the Year 2013
Apr 11 14
YaSheng Group announced earnings results for the year 2013. For the year, the company reported revenues of $1,011 million against $993 million a year ago. Net income was $136 million or $0.88 per share against $126 million or $0.82 per share a year ago. The increase in Net Sales were attributable to higher yields and a better product mix.
Yasheng Group Completes First Industrial Hemp Shipment to the United States
Feb 26 14
YaSheng Group announced that it has successfully completed its first shipment of hulled hemp seeds to the United States. The delivery marks an important step in an agreement made in 2013 between Hemp Inc. and Yasheng to contract farm approximately 600 mu of hemp in China for import to the U.S. Yasheng is currently preparing to ship the remaining output of the crop in the form of fiber, chaff and hulled seeds. The two companies are currently negotiating a new contract for the 2014 planting season.