Yongye International CEO Zishen Wu Buys $1.7 Million of Shares
Zishen Wu is the CEO and chairman of Yongye Nongfeng and Yongye International Inc. He founded Yongye Biotechnology Company in 2003, in order to research and produce nutrient products targeted for plants and animals. He is also the deputy chairman for the Inner Mongolia Chamber of Commerce, as well as a member of the Executive Committee for Industry and Commerce Association in Inner Mongolia.
Zishen Wu traded twice in YONG recently, both on 6/14/11 and 6/15/11. He bought 240,000 shares on 6/14/11 and a further 315,000 shares on 6/15/11. The price of the stock has decreased 8.6% since his 6/14/11 purchase.
Yongye International recently reported its first quarter 2011 results. Revenue for the three months ended March 31, 2011 was $50.2 million compared to $24.9 million for the same period in 2010, an increase of 101.4%. The significant increase in revenue was mainly due to higher demand throughout the Company's market area and the rapid expansion of the Company's distribution network. As of March 31, 2011, Yongye had 26,006 independently-owned branded stores in its network, compared to 24,036 stores at the end of 2010 and 9,110 stores at the end of 2009.