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Yongye Biotechnology International Announces Second Quarter Results




Biotechnology The predecessor

International, Inc. Inner

and Subsidiaries Mongolia Yongye

For Six Months For Six Months

Ended June Ended June

30, 2008 30, 2007

(Unaudited) (Unaudited)


Net Income $7,742,185 $3,358,428

Adjustments to Reconcile Net

Income to Net Cash Used in Operating


Depreciation and Amortization 93,263 10,644

Loss on Disposal of Fixed Assets -- 146,714

Provision for Minority Interest 1,035,005 --

Changes in Assets and Liabilities:

Accounts Receivable, net (20,613,347) (6,557,611)

Inventories (5,196,266) (319,604)

Other Receivables, net (216,795) (1,063,081)

Advances to Suppliers (65,453) 352,866

Prepaid Expense -- (7,271)

Accounts Payable and Accrued

Expenses 6,772,337 288,578

Tax Payable 406,530 49,894

Due to Related Parties 2,397,465 838,369

Other Payables 40,424 (1,759,915)


SOURCE Yongye Biotechnology International, Inc.
Copyright©2008 PR Newswire.
All rights reserved

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