China Tracker - Details for Yongye International (YONG)

 Yongye International
Shares Outstanding (MRQ): 49.37 mill 
New Shares / Dilution (TTM): 4.67 mill10.46% 
New Shares / Dilution (since Dec 31, 2008): 31.82 mill181.37% 
Cash (MRQ): 44.55 mill0.00%
Account Receivables (MRQ): 26.94 mill0.00%
Account Receivables (Q/Q): + 0.83 mill3.18% 
Long-Term Debt (MRQ): 0.45 mill0.00%
Revenue Growth (Q/Q): 79.42% 
Revenue Growth (Y/Y): 101.41%
Net Income Growth (Q/Q): 86.88% 
Net Income Growth (Y/Y): 189.44%
EPS Growth (Y/Y): 162.04%
Net Margin (Q/Q): 25.1% (24.1%)1.00% 
Net Margin (Y/Y): 25.1% (17.5%)7.60% 
EPS | P/E (2 MRQ Projection): $0.780.00 
CFPS | P/CF (2 MRQ Projection): $1.290.00 
Price/Sales (2 MRQ Projection): 0.00
Price/Book (MRQ): 0.00 
Auditor: KPMG
 
 Forward Projections (Fiscal Year)
EPS | P/E (Estimates updated 2011-03-14): $1.650.00 
 Basic Facts and History (show more)
Reporting Type: U.S. Company (10-K Filings) 
Going Public: Reverse Merger on 2008-04-17 
Uplisting to Senior Exchange: on 2009-09-03 at $6.89 (-100.00% since Uplisting)

 Business Outlook

Yongye International today announced that Morgan Stanley Private Equity Asia has agreed to make a $50 million equity investment in Yongye. Yongye intends to use the proceeds from this investment for capacity expansion, repayment of commercial bank debt, working capital, and general corporate purposes.

"After extensive due diligence, we believe Yongye to be an exceptional company that has built significant brand recognition in China's agriculture industry through its integrated marketing campaigns, distribution strategy and the benefits its Shengmingsu-branded products have brought to Chinese farmers," stated Mr. Homer Sun, Managing Director of MSPE Asia. "The Company's core products address an important need for farmers to enhance yield for crops planted on soil that has become degraded by decades of over-fertilization. In addition to product efficacy, we are impressed by the Company's strategy and execution to develop an effective sales network directed at an underpenetrated segment of Chinese demand. We look forward to being long-term shareholders and partners with Yongye and intend to provide our full support to Yongye with respect to operating strategies and the capital markets."

In connection with this transaction, Mr. Sun is joining the Company's board of directors. The transaction is expected to close by June 10, 2011, subject to customary closing conditions. The Investment will consist of the purchase of $50 million of convertible preferred shares convertible into common stock of the Company at an initial conversion price of $8.80 per share, subject to customary anti-dilution adjustments and a full-ratchet adjustment in the event of future issuances of equity securities below the conversion price. The conversion price is also subject to upwards or downwards adjustments (up to a maximum of $15.00 per share) based on the Company's reported cumulative net income in the years between 2011 and 2014. The calculation of the adjustments based on the Company's reported cumulative net income is subject to certain further adjustments in the event of future issuances of equity securities by the Company not approved by the holders of the preferred shares. MSPE Asia also has the right to acquire from the Company's principal stockholder additional Common Stock in the event that the Company fails to meet certain net income targets and undertakes certain dilutive corporate actions.

(Source: PR Newswire, 2011-05-31)

Yongye International today responded to recent analyst reports and web-based articles which inaccurately characterize Yongye's business, make false accusations regarding the Company's financials and related party transactions, and draw unwarranted inferences from documents that were filed by third parties with the Chinese government. The Company believes that these analysts and or the parties that have hired or are affiliated with them have engaged in reckless attempts to negatively influence trading in Yongye's securities for their financial benefit.

(Source: PR Newswire, 2011-05-19)

The Company continues to expect to achieve 2011 revenues of between $315 million and $325 million, representing an increase of 47.1% and 51.8% over 2010's revenue of $214.1 million. The Company expects adjusted net income attributable to Yongye, which excludes non-cash expenses related to share-based compensation for management and independent directors, the amortization of the acquired Hebei customer list, and a change in the fair value of derivative liabilities, of between $80 million and $82 million, representing an increase of between 47.9% and 51.6% over 2010 adjusted net income attributable to Yongye of $54.1 million. The Company expects to expand its independently-owned branded store network to at least 30,000 by the end of 2011, which represents a 24.8% increase over the 2010 year-end figure of 24,036.

"Our Shengmingsu plant nutrient product continues to help improve the productivity of Chinese farmers. After several years of rapid expansion, Yongye has become a leading nationwide agricultural nutrient product supplier in China. Our increased consumer recognition in the agricultural community in China is an important contributor to our business growth. Our new state-of-the-art production facility, which began normal operations at the end of 2010, will help us fulfill the growing demand for our products. We anticipate we will secure the final government approval in order to complete our lignite coal resource project acquisition by the end of 2011. We look forward to achieving another successful year in 2011 by delivering value to both our customers and shareholders."

(Source: PR Newswire, 2011-05-09)

    see all Business Outlook notes


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 Analyst Coverage (show more)
2011-08-10Roth CapitalReiterationNeutral$4.50
2011-05-20ChardanDowngradeTerminatedn/a
2011-05-10Roth CapitalReiterationNeutral$5.80
2011-05-09ChardanReiterationBuy$9.00
2011-04-13Rodman & RenshawDowngradeTerminatedn/a

YONG is currently followed by 4 analysts. 1 give the stock a positive rating, 3 rate it neutral and 0 give it a negative rating. The average price target is 8.25.


    see all Analyst Ratings

 Recent Financings
2009-12-17Priced$60.00 mill8.00 mill shares$7.50

 Investor Presentations
2010-08-24 (PDF)   DOWNLOAD (right click, save as)
2010-04-01 (PDF)   DOWNLOAD (right click, save as)
YONG
Agriculture
SCORE
8
READ: Score Cards Explained
SAFETY/RISK SCORE
MODERATE SAFETY
DETAILS: Safety/Risk Model for YONG
Current Price:  n/a
F10k Day (2009-03-23): -100.00%$1.50
2009 Close: -100.00%$8.13
2010 Close: -100.00%$8.40
2011 Close: -100.00%$3.52
High (2012-10-15): -100.00%$5.88
Low (2012-05-21): -100.00%$2.60
Exchange:
Market Capitalization: n/a
Total Shares: 49.37 mill
Float: n/a
Avg Volume: 573.50 k
Short Interest: 3.68 mill
Short Ratio: 9.96%6.4 d
Last Quarter: 2011-03-31
Revenue (MRQ): 50.22 mill
Net Income (MRQ): 12.62 mill
Op. Cash Flow (MRQ): 6.60 mill
all financial data provided without warranty