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Tuesday, May 06, 2008 12:53:07 AM
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Important Websites
Home Page: http://www.agfeedinc.com/
Contact Information
US Contact :
Mr. Arnold Staloff
Independent Board Member, AgFeed Industries, Inc.
Tel:212-631-3510
Company Contact:
AgFeed Industries, Inc.
Mr. Sam Zhou, Corporate Development
Tel: 011-86-13925912908
Email: info@agfeedinc.com
Corporate Headquarters:
AgFeed Industries, Inc.
Room 1602 & 1603, Block A, Fortune Plaza, 357 Bayi Avenue,
Nanchang City, Jiangxi Province, PRC 330006
Tel : 86-791-2189636
Auditor:
Goldman & Parks LLP, California.
A PCAOB (Public Company Accounting Oversight Board) registered member firm in the United States.
Legal Counsel:
Buchanan Ingersoll & Rooney PC. (http://www.bipc.com). Founded in 1850, Buchan Ingersoll is one of the oldest and largest law firms in the United States.
About AgFeed Industries, Inc. (FEED:NasdaqGM).
AgFeed Industries, Inc., a US Nevada company, operates through its wholly owned subsidiaries in China. Our China subsidiaries were founded in 1995 by five founders who are still our current senior management and our largest shareholders (41% of AgFeed as of May 1, 2008). Four of our five founders were college classmates majoring in animal science, veterinary science and animal feed science.
We research, manufacture and distribute high-quality premium feed products for the growing needs of China's $40 billion per year feed industry
AgFeed is a government certified and licensed feed producer supplying pork pre-mix and blended feed to pig farmers in China. China's "Eleventh Five-Year Plan" (2006-2010) endorses expansion and improvement of the livestock industry, in particular with regards to quantity and quality. The Chinese government has pledged to empower the Nation to become self-sufficient in food supply by 2010 and supports the manufacture and use of proper formula feed due to its beneficial effects on the health, timely development and lean percentage of pork produced.
We have an efficient nationwide product distribution network across key agricultural regions in China. We target our customers through direct distribution, wholesaler distribution, and through franchise store owners who exclusively market our products to end user customers.
* Direct Distribution: Performed through our fleet of delivery vehicles primarily to sophisticated large scale commercial hog farms that demand excellent customer service and technical assistance.
* Broad wholesaler distribution channels: Product distribution through 550 nationwide distributors across China. Distributors gnerally target our smaller-scale farm customers that rely on established brand names for high quality products.
* Unique franchise chain store sales: Since January 2007, FEED has pioneered a unique and highly successful feed industry distribution model: signing up independently owned exclusive sales agents across China. The Company's efforts have led to over 700 and growing independently owned stores targeting end user retail customers.
Due to a variety of factors including its popularity in the Chinese diet, continued higher disposable incomes, strong profitability in the pork sector and increased investment in swine and pork operations, industry experts predict the pork and related feed market to experience double-digit growth through 2015. Equipped with state-of-the-art manufacturing equipment and extensive ground distribution coverage, AgFeed is there to meet the increasing demands of China's husbandry market.
Solid Business Fundamentals including:
ISO 9001 quality certified
All products registered and licensed by the Ministry of Agriculture.
Excel in Customer Relationships:
Establishing relationships with over 1000 customers comprised of distributors (55% of sales) and large-scale farms (45% of sales).
Premier Service:
Maintaining a ratio of tech to sales reps that leads the industry [1:5 vs industry average 1:12] which is highly-valued by large-scale farms in maintaining herd health and helps to strengthen customer acquisition and retention rates.
Strong Research and Product Development:
Acquiring proprietary technology obtained through 12 years of R&D and maintaining consulting agreements with industry professionals at regional Universities as well as Manchester (UK) and Purdue (US) Universities gives us access to the industry's cutting-edge technology. In addition, AgFeed has engaged the services of Mr. Bud Harmon, swine expert, professor of Purdue University, and former consultant to Hope-Welcome, China's leading feed producer, as our advisor and senior technical consultant in products and operations.
Extensive Distribution:
Through AgFeed's strategically located operating facilities in Nanchang (Jiangxi Province), Shanghai, Nanning (Guangxi Province), and Taian (Shandong Province), we are able to penetrate the country's main pork producing regions in the east coast and southwestern provinces.
FEED Management
At AgFeed, we are committed to maintaining the highest standards in corporate governance. We strive to ensure that our business practice is in compliance at all times with applicable laws and regulations in any country where we conduct business. Our Board and Advisors include seasoned securities industry executives and former industry regulators that help guide our growth. We have also developed our Code of Conduct.
World Class Management Team and Advanced R&D Capabilities
Since management founded the Company in 1995 with $10,000 in personal funds, the same steady management team has grown the Company into a multi-million dollar business. Headed by Chairman and founder Songyan Li, Ph.D., the Company's senior managers have MBAs or advanced degrees in animal nutrition. Dr. Li is the former China head of technology for European animal feed conglomerate Provimi (2006 sales 1.6 billion euros. www.provimi.com). On new product development, the Company collaborates with its technical advisor, Professor Bud Harmon of Purdue University, a renowned US animal feed industry expert.
Efficient Management Team Delivers Superb Growth and Profit Margins
The Company markets agricultural technology focused premix animal feed, which on average carries net profit margins of 20%, compared to blended feed manufacturers with less than 4% in net margins. Premix feed products consist of vitamin and mineral based nutrients that balance an animal's nutritional intake at various stages of growth and enhance the quality of meat produced. The use of premix guarantees to significantly reduce the growth cycle for animals (an example: natural growth for a pig is about 12 months, with premix, it takes 5 months from piglet to market size of over 200lbs).
The current board may be found here: http://www.agfeedinc.com/html/management.asp#song
Current advisors may be found here: http://www.agfeedinc.com/html/management_Rittereiser.asp
Songyan Li,
PhD, MBA,
Chairman of the Board
FOUNDER
As one of the original founders of the Company, Dr. Li is a renowned animal nutrition scientist in China. He was named Chairman of the Board in July 2004. Prior to that, he worked as the Technical Manager in Guangxi Peter Hand Pre-mix Feed Company, a Chinese subsidiary of global animal nutrition conglomerate Provimi S.A. Mr. Li obtained his PhD in animal nutrition from Nanjing Agricultural University in September 2004. He also has an EMBA degree from China Europe International Business School, one of the best business schools in China. Dr. Li speaks fluent English.
Junhong Xiong, MBA,
CEO & Vice Chairman of the Board
FOUNDER
Since founding the Company in May l995, Mr. Xiong has served as Chief Executive Officer. Prior to that, he worked for Guangzhou Huashi Animal Nutritionals Company as head of marketing. He rapidly rose from an entry level sales position to a top sales manager until reaching his final position as the head of marketing. Mr. Xiong Junhong earned his B.S. in Animal Husbandry & Veterinary studies from Jiangxi Agricultural University in July 1992 and has an EMBA degree from Tsinghua University in Beijing, one of China's top business schools.
Liangfan Yan, CPA,
Chief Financial Officer
Mr. Yan was named CFO of the Company in 2006. He brings to the Company almost two decades of accounting and audit experience from his 5 years tenure as the Financial Controller for the New Hope Group, China's No. 1 animal nutrition company with almost US$2 billion in annual sales. Prior to New Hope, he was a senior manager at a major accounting firm in Chengdu, China. He is a registered CPA. He holds a BA degree in accounting from the Correspondence College of Economics in Beijing.
Feng Zhou, MBA,
VP & Financial Controller, Corporate Secretary
FOUNDER
Since founding the Company in 1995, Mr. Zhou has been serving as Corporate Secretary and VP-Financial Controller at the Company. Prior to founding the Company, he worked at Guangzhou Huashi Industries for two years as a sales representative. He received his bachelor degree in Animal Nutrition in 1992 from Jiangxi Agricultural University and upon graduation worked at Shanghai Daying Industry as a technician from July 1992 through October 1993. He obtained his EMBA degree from Tsinghua University in 2004, one of China's top business schools.
Zhengru Xiong, MBA,
Vice President - Head of Hog Farm Operations
FOUNDER
Since founding the company in May 1995, Mr. Xiong has served as VP of Technical Operations for the Company. He is the current Chairman of Jiangxi Province Hog Farm Association. He graduated from Jiangxi Agricultural University in 1992 with a Bachelor's Degree in Animal Farming and from 1992 through 1994 he worked at Jiangxi Agricultural and Technology Company as a section chief. Mr Xiong is credited for broadening the Company's markets outside of Jiangxi especially throughout the eastern farming regions of China
Jinfeng Yuan, Ph.D.,
Vice President - Technology
Dr. Yuan earned a Ph.D. degree in animal genetics from Huazhong Agricultural University and the University of Cambridge. His research area is focused on animal genetics and breeding, veterinary, molecular biology, statistics and bioinformation science. He has studied at PIC (the international leader in providing genetically superior pig breeding stock) research lab at the University of Cambridge, Tianzhong Breeder Pig Company (one of China's top breeder hog companies) and World Wildlife Fund (WWF) China.
Mr. Arnold Staloff, Chairman of Audit Committee
Independent Board Member
Mr. Staloff joins AgFeed as an independent board member as well as AgFeed's Chairman of the Audit Committee, Chairman of the Compensation Committee. Mr. Staloff began his career with the U.S. Securities and Exchange Commission (SEC), Trading and Markets Division in 1968. He is currently a member of the Board of Directors for Lehman Brothers Derivative Products Inc. and Exchange Lab Inc.
Fredric Rittereiser, Independent Board Member
Mr. Rittereiser joins AgFeed as an independent board member as well as Chairman of the Nominating Committee. Mr. Rittereiser has over 40 years of capital markets experience as senior executives at numerous Wall Street firms. He is currently an independent consultant advising global companies with market entry and strategic development issues specializing in China related projects. He is the former President of Instinet Corporation.
Lixiang Zhang, Ph.D., Independent Board Member
Dr. Zhang is a leading expert in animal nutritional science and management consulting in China. Dr. Zhang is a Professor of Agricultural Management and has served as the Assistant Dean of the College of Agricultural Development at Renmin University of China since July 2003. In 2005, he was named a Top Ten Enterprise Strategist by the Chinese government. In 2004, Dr. Zhang was named a Top Ten Best Management Consulting Expert by the Chinese Government.
Professor Bud Harmon, PhD - Technical Advisor
Dr. Bud Harmon is well known for his contribution to the American and Chinese animal science research and educational programs. He is an Emeritus Professor of Purdue University. While at Purdue, he was the Head of Animal Science Department. Dr. Harmon was a former President of the American Society of Animal Science.
Edward McMillan -
M&A Advisor
Mr. McMillan was the President and Chief Executive Officer of Purina Mills Inc., the United States’ largest manufacturer and distributor of animal nutrition products, from 1988 until 1996. He joined Purina Mills in 1969 as a field sales representative and held various positions in Marketing, Business Development and Diversified Business Management before being named President and CEO in 1988 and elected to the Board of Directors in 1993.
Robert Rittereiser, Chairman of Advisory Board
Mr. Rittereiser is the former Chief Financial Officer and Chief Administrative Officer of Merrill Lynch, former President and CEO of EF Hutton & Co., and former Chairman and CEO of the Wall Street firm Gruntal Financial LLC. Mr. Rittereiser has also served as an Industry Director for the Depository Trust Co., The National Securities Clearing Corp., and the Chicago Board of Options Exchange. In addition, he is the former Vice Chairman of the Securities Industry Association.
Short List of Products by FEED
AgFeed supplies two principle product lines: pre-mix for all stages of pig life, and blended feed specifically for the infant or piglet stage of life.
1. Pre-mix
According to the different growth stages of pig life, different components are necessary to maintain the healthy development of the animals and provide safe products for human consumption. Pre-mix additives are composed mainly of essential amino acids which play a critical role in protein digestion and absorption, vitamins, minerals, antibiotics, and growth promoters. AgFeed manufactures and sells several brand names of pre-mix which differ slightly in price and quality to cater to different levels of customer interest such as premium or no frills. Within each brand line there are products designed for differing stages of pig life such as newborn to 15kg, 15-30kg , 30-60kg, market ready, over 60kg boar, mating or pregnant, etc.
2. Piglet blends
Piglet blending feed is designed to both nourish and protect newborns. It is composed primarily of proteins such as fish meal and soy (30%) with the energy added in raw material grains such as corn and chaff (roughly 65%). It is designed for the market according to different requirements in terms of local climate and environment. Large scale piggeries are the main purchasers of piglet blends as they are especially concerned with maintaining piglet health to avoid disease and to establish a healthy weight gain foundation for the animal life cycle.
Other
As a minor product line AgFeed also produces pre-mix for the poultry industry and sold under three different brands. Sales constitute less than 10% of total sales.
At the Shanghai production center, pre-mix for the poultry industry is also produced and sold under three different brands. While pork is by far the predominant husbandry market in China, the country is second only to the United States in poultry, producing approximately 10.2 million tons of poultry in 20051. While the Company has no current plans to expand chicken feed manufactured, production can easily be increased without affecting the volume of pork feed produced.
SEC and Pinksheets Information
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001331427&owner=include&count=40
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=FEED
News
May 1 , 2008 AgFeed Industries Completes Previously Announced Acquisition of 16 Producing Commercial Hog Farms, Remains on Target to Meet or Exceed 2008 Hog Sale Estimate
http://www.agfeedinc.com/html/news20080501.asp
April 30 , 2008 AgFeed Industries to Hold 2008 Annual Meeting of Stockholders in New York City on June 3, 2008
http://www.agfeedinc.com/html/news20080430.asp
April 28 , 2008 AgFeed Industries Completes Previously Announced $25.2 Million Equity Financing
http://www.agfeedinc.com/html/news20080428.asp
April 24 , 2008 AgFeed Industries Announces Opening of the 700th Independently Owned Exclusive Feed Distribution Chain Store in China
http://www.agfeedinc.com/html/news20080424.asp
April 23 , 2008 AgFeed Industries Arranges $25.2 Million Equity Financing
http://www.agfeedinc.com/html/news20080423.asp
April 17 , 2008 AgFeed Industries Arranges $10 Million Equity Financing
http://www.agfeedinc.com/html/news20080417.asp
April 16 , 2008 AgFeed Industries Agrees to Acquire Multiple Commercial Hog Farms in China in a Favorable Market Environment
http://www.agfeedinc.com/html/news20080416.asp
Mar 24 , 2008 AgFeed Industries Engages Leading US Hog Industry Experts to Explore Strategic Options as a Platform for Access to
China's Vast Feed and Hog Raising Markets
http://www.agfeedinc.com/html/news20080324.asp
Mar 20 , 2008 AgFeed Industries Expands Its Agricultural Product Distribution Platform in China Through Its 630th Independently Owned Exclusive Retail Chain Store
http://www.agfeedinc.com/html/news20080320.asp
Mar 17 , 2008 AgFeed Industries Receives Hog Export License for the Hong Kong Market and AgFeed Experiences Higher Than Estimated Profit Margins From Hog Sales
http://www.agfeedinc.com/html/news20080317.asp
Mar 12 , 2008 AgFeed Industries Reports Record Fiscal 2007 Financial Results, Growth in Net Income of More Than 450%, Affirms 2008 Financial Guidance
http://www.agfeedinc.com/html/news20080312.asp
Mar 11 , 2008 AgFeed Industries to Report Fiscal 2007 Financial Results on March 12, 2008
http://www.agfeedinc.com/html/news20080311.asp
Mar 03 , 2008 AgFeed Industries Completes $41 Million Financing, Outlines Growth Plan for 2008
http://www.agfeedinc.com/html/news20080303.asp
Feb 26 , 2008 AgFeed Industries to Present at the JPMorgan Hong Kong/China Small Cap Days in Singapore and Hong Kong on March 13 and March 14
http://www.agfeedinc.com/html/news20080226.asp
Feb 25 , 2008 AgFeed Industries Arranges for $41 Million in Financing, Provides Sales and Earnings Guidance for 2008
http://www.agfeedinc.com/html/news20080225.asp
Feb 04 , 2008 AgFeed Industries Is Not Affected by Winter Storms in South China
http://www.agfeedinc.com/html/news20080204.asp
Jan 29 , 2008 AgFeed Industries Benefits From China's Income Tax-Exempt Status Covering the Hog Raising Industry
http://www.agfeedinc.com/html/news20080129.asp
Jan 23 , 2008 AgFeed Expands Retail Distribution Channel With the Opening of Its 510th Store
http://www.agfeedinc.com/html/news20080123.asp
Jan 22 , 2008 AgFeed Industries Names Renowned Animal Genetics Scientist as Vice President of Technology
http://www.agfeedinc.com/html/news20080122.asp
Jan 17 , 2008 AgFeed Industries Welcomes Robert Rittereiser, Senior Financial Services Industry Executive, as Chairman of Advisory Board
http://www.agfeedinc.com/html/news20080117.asp
Jan 15 , 2008 AgFeed Industries Acquires Five Chinese Hog Farms
http://www.agfeedinc.com/html/news20080115.asp
Jan 7 , 2008 AgFeed Industries Receives Chinese Government Grant
http://www.agfeedinc.com/html/news20080107.asp
Dec 18 , 2007 AgFeed Industries' Founding Executive Is Named Chairman of Jiangxi Province Hog Farm Association
http://www.agfeedinc.com/html/news20071218.asp
Dec 17 , 2007 AgFeed Industries Appoints Edward McMillan, Former Chairman of American Feed Industry Association and Former CEO of Purina Mills, the Largest Animal Nutrition Product Company in the US, as a Strategic M&A Advisor
http://www.agfeedinc.com/html/news20071217.asp
Nov 26 , 2007 AgFeed Industries Appoints Seasoned Wall Street Executives as New Directors
http://www.agfeedinc.com/html/news20071126.asp
Nov 16 , 2007 AgFeed Industries Signs $1.2 Million in Product Supply Contracts, Establishes Fourth Manufacturing Plant in China Serving China's Second Largest Feed Market -- Shandong Province
http://www.agfeedinc.com/html/news20071116.asp
Nov 13 , 2007 AgFeed Industries Announces the Opening of the 380th Independently Owned Retail Store in China, AgFeed Continues to Experience Success in Distribution Model
http://www.agfeedinc.com/html/news20071113.asp
Nov 7 , 2007 AgFeed Industries Announces Acquisition of the Largest Breeder Hog Farm in China's Jiangxi Province
http://www.agfeedinc.com/html/news20071107.asp
Oct 31 , 2007 AgFeed Industries Reports Record Third Quarter 2007 Financial Results -- Revenues Up 488%, Net Income Up 185%, EPS $0.08 Fully Diluted, First Nine Month EPS $0.17, Up 246%
http://www.agfeedinc.com/html/news20071031.asp
Oct 29 , 2007 AgFeed Industries Will Report Record 3rd Quarter Financial Results in the Week of October 29, 2007
http://www.agfeedinc.com/html/news20071029.asp
Oct 11, 2007 AgFeed Industries Approved for Listing On the Nasdaq Global Market, Transferring From the Current Nasdaq Capital Market; Stock Symbol Remains 'FEED'
http://www.agfeedinc.com/html/news20071011.asp
Sep 18, 2007 AgFeed Industries Signs Feed Supply Agreement to Supply Shanghai Hog Farm Producing 300,000 Hogs Annually -- AgFeed Provides Quality Feed Solutions Addressing China's Pork Shortage Problems
http://www.agfeedinc.com/html/news20070918.asp
Aug 27, 2007 AgFeed Industries Announces New Stock Symbol -- 'FEED'
http://www.agfeedinc.com/html/news20070827.asp
Aug 24, 2007 AgFeed Industries Approved for Listing on the Nasdaq Stock Market
http://www.agfeedinc.com/html/news20070824.asp
Aug 15, 2007 AgFeed Industries Reports 2nd Quarter Financial Results -- Net Income Up 510 Percent, Revenues Up 229 Percent, Net Income
Margin Exceeds 21 Percent, $0.06 Per Fully Diluted Share
http://www.agfeedinc.com/html/news20070815.asp
Aug 14, 2007 AgFeed Industries Will Report Record 2nd Quarter Financial Results Before Market Opens On August 15, 2007
http://www.agfeedinc.com/html/news20070814.asp
Jun 25, 2007 AgFeed Industries Announces Strategic Investment by Affiliate of Apollo Management
http://www.agfeedinc.com/html/news20070625.asp
Jun 13, 2007 AgFeed Industries Named the Only 'Most Recommended' Premix Product by China Swine Farmers Association in GuangXi
http://www.agfeedinc.com/html/news20070613.asp
Jun 4, 2007 AgFeed Industries Announces the Opening of the 120th Franchise Chain Store and Completes Tour of China by Its U.S. Board Members
http://www.agfeedinc.com/html/news20070604.asp
May 17, 2007 AgFeed Industries Welcomes Renowned Animal Nutrition Industry Expert Dr. Lixiang Zhang, Ph.D. as an Independent Board Member
http://www.agfeedinc.com/html/news200705171.asp
May 14, 2007 AgFeed Industries Reports Record First Quarter 2007 Financial Results - Revenues Up 137 Percent, Net Income Up 179 Percent, EPS $0.03 Fully Diluted on Organic Growth
http://www.agfeedinc.com/html/news20070514.asp
Apr 16, 2007 AgFeed Industries Signs $2 Million in Sales Contracts From New Product Launch in Collaboration With Professor Bud Harmon of Purdue University
http://www.agfeedinc.com/html/news20070416.asp
Mar 14, 2007 AgFeed Industries Reports Record 2006 Financial Results -- Net Income Up 75 Percent, $0.07 Per Share Fully Diluted
http://www.agfeedinc.com/html/news20070314.asp
Feb 1, 2007 AgFeed Industries Named one of China's 'Top Ten Suppliers of Safe Animal Food' by the Chinese Government Association
http://www.agfeedinc.com/html/news20070201.asp
Chart and Stock Information
Share Structure
As of May 1, 2008, AgFeed had 32,005,927 shares of common stock issued and outstanding. We do not have any other classes of stock.
Source: http://www.agfeedinc.com/html/faqs.asp
Charts
Reference
(1) http://www.agfeedinc.com
(2) http://finance.yahoo.com/q?s=FEED
(3) http://www.etrade.com
(4) http://www.pinksheets.com/pink/quote/quote.jsp?symbol=feed
_______________________________________
Updated 5 MAY 2008 by Soapy Bubbles
Important Websites
Home Page: http://www.agfeedinc.com/
Contact Information
US Contact :
Mr. Arnold Staloff
Independent Board Member, AgFeed Industries, Inc.
Tel:212-631-3510
Company Contact:
AgFeed Industries, Inc.
Mr. Sam Zhou, Corporate Development
Tel: 011-86-13925912908
Email: info@agfeedinc.com
Corporate Headquarters:
AgFeed Industries, Inc.
Room 1602 & 1603, Block A, Fortune Plaza, 357 Bayi Avenue,
Nanchang City, Jiangxi Province, PRC 330006
Tel : 86-791-2189636
Auditor:
Goldman & Parks LLP, California.
A PCAOB (Public Company Accounting Oversight Board) registered member firm in the United States.
Legal Counsel:
Buchanan Ingersoll & Rooney PC. (http://www.bipc.com). Founded in 1850, Buchan Ingersoll is one of the oldest and largest law firms in the United States.
About AgFeed Industries, Inc. (FEED:NasdaqGM).
AgFeed Industries, Inc., a US Nevada company, operates through its wholly owned subsidiaries in China. Our China subsidiaries were founded in 1995 by five founders who are still our current senior management and our largest shareholders (41% of AgFeed as of May 1, 2008). Four of our five founders were college classmates majoring in animal science, veterinary science and animal feed science.
We research, manufacture and distribute high-quality premium feed products for the growing needs of China's $40 billion per year feed industry
AgFeed is a government certified and licensed feed producer supplying pork pre-mix and blended feed to pig farmers in China. China's "Eleventh Five-Year Plan" (2006-2010) endorses expansion and improvement of the livestock industry, in particular with regards to quantity and quality. The Chinese government has pledged to empower the Nation to become self-sufficient in food supply by 2010 and supports the manufacture and use of proper formula feed due to its beneficial effects on the health, timely development and lean percentage of pork produced.
We have an efficient nationwide product distribution network across key agricultural regions in China. We target our customers through direct distribution, wholesaler distribution, and through franchise store owners who exclusively market our products to end user customers.
* Direct Distribution: Performed through our fleet of delivery vehicles primarily to sophisticated large scale commercial hog farms that demand excellent customer service and technical assistance.
* Broad wholesaler distribution channels: Product distribution through 550 nationwide distributors across China. Distributors gnerally target our smaller-scale farm customers that rely on established brand names for high quality products.
* Unique franchise chain store sales: Since January 2007, FEED has pioneered a unique and highly successful feed industry distribution model: signing up independently owned exclusive sales agents across China. The Company's efforts have led to over 700 and growing independently owned stores targeting end user retail customers.
Due to a variety of factors including its popularity in the Chinese diet, continued higher disposable incomes, strong profitability in the pork sector and increased investment in swine and pork operations, industry experts predict the pork and related feed market to experience double-digit growth through 2015. Equipped with state-of-the-art manufacturing equipment and extensive ground distribution coverage, AgFeed is there to meet the increasing demands of China's husbandry market.
Solid Business Fundamentals including:
ISO 9001 quality certified
All products registered and licensed by the Ministry of Agriculture.
Excel in Customer Relationships:
Establishing relationships with over 1000 customers comprised of distributors (55% of sales) and large-scale farms (45% of sales).
Premier Service:
Maintaining a ratio of tech to sales reps that leads the industry [1:5 vs industry average 1:12] which is highly-valued by large-scale farms in maintaining herd health and helps to strengthen customer acquisition and retention rates.
Strong Research and Product Development:
Acquiring proprietary technology obtained through 12 years of R&D and maintaining consulting agreements with industry professionals at regional Universities as well as Manchester (UK) and Purdue (US) Universities gives us access to the industry's cutting-edge technology. In addition, AgFeed has engaged the services of Mr. Bud Harmon, swine expert, professor of Purdue University, and former consultant to Hope-Welcome, China's leading feed producer, as our advisor and senior technical consultant in products and operations.
Extensive Distribution:
Through AgFeed's strategically located operating facilities in Nanchang (Jiangxi Province), Shanghai, Nanning (Guangxi Province), and Taian (Shandong Province), we are able to penetrate the country's main pork producing regions in the east coast and southwestern provinces.
FEED Management
At AgFeed, we are committed to maintaining the highest standards in corporate governance. We strive to ensure that our business practice is in compliance at all times with applicable laws and regulations in any country where we conduct business. Our Board and Advisors include seasoned securities industry executives and former industry regulators that help guide our growth. We have also developed our Code of Conduct.
World Class Management Team and Advanced R&D Capabilities
Since management founded the Company in 1995 with $10,000 in personal funds, the same steady management team has grown the Company into a multi-million dollar business. Headed by Chairman and founder Songyan Li, Ph.D., the Company's senior managers have MBAs or advanced degrees in animal nutrition. Dr. Li is the former China head of technology for European animal feed conglomerate Provimi (2006 sales 1.6 billion euros. www.provimi.com). On new product development, the Company collaborates with its technical advisor, Professor Bud Harmon of Purdue University, a renowned US animal feed industry expert.
Efficient Management Team Delivers Superb Growth and Profit Margins
The Company markets agricultural technology focused premix animal feed, which on average carries net profit margins of 20%, compared to blended feed manufacturers with less than 4% in net margins. Premix feed products consist of vitamin and mineral based nutrients that balance an animal's nutritional intake at various stages of growth and enhance the quality of meat produced. The use of premix guarantees to significantly reduce the growth cycle for animals (an example: natural growth for a pig is about 12 months, with premix, it takes 5 months from piglet to market size of over 200lbs).
The current board may be found here: http://www.agfeedinc.com/html/management.asp#song
Current advisors may be found here: http://www.agfeedinc.com/html/management_Rittereiser.asp
Songyan Li,
PhD, MBA,
Chairman of the Board
FOUNDER
As one of the original founders of the Company, Dr. Li is a renowned animal nutrition scientist in China. He was named Chairman of the Board in July 2004. Prior to that, he worked as the Technical Manager in Guangxi Peter Hand Pre-mix Feed Company, a Chinese subsidiary of global animal nutrition conglomerate Provimi S.A. Mr. Li obtained his PhD in animal nutrition from Nanjing Agricultural University in September 2004. He also has an EMBA degree from China Europe International Business School, one of the best business schools in China. Dr. Li speaks fluent English.
Junhong Xiong, MBA,
CEO & Vice Chairman of the Board
FOUNDER
Since founding the Company in May l995, Mr. Xiong has served as Chief Executive Officer. Prior to that, he worked for Guangzhou Huashi Animal Nutritionals Company as head of marketing. He rapidly rose from an entry level sales position to a top sales manager until reaching his final position as the head of marketing. Mr. Xiong Junhong earned his B.S. in Animal Husbandry & Veterinary studies from Jiangxi Agricultural University in July 1992 and has an EMBA degree from Tsinghua University in Beijing, one of China's top business schools.
Liangfan Yan, CPA,
Chief Financial Officer
Mr. Yan was named CFO of the Company in 2006. He brings to the Company almost two decades of accounting and audit experience from his 5 years tenure as the Financial Controller for the New Hope Group, China's No. 1 animal nutrition company with almost US$2 billion in annual sales. Prior to New Hope, he was a senior manager at a major accounting firm in Chengdu, China. He is a registered CPA. He holds a BA degree in accounting from the Correspondence College of Economics in Beijing.
Feng Zhou, MBA,
VP & Financial Controller, Corporate Secretary
FOUNDER
Since founding the Company in 1995, Mr. Zhou has been serving as Corporate Secretary and VP-Financial Controller at the Company. Prior to founding the Company, he worked at Guangzhou Huashi Industries for two years as a sales representative. He received his bachelor degree in Animal Nutrition in 1992 from Jiangxi Agricultural University and upon graduation worked at Shanghai Daying Industry as a technician from July 1992 through October 1993. He obtained his EMBA degree from Tsinghua University in 2004, one of China's top business schools.
Zhengru Xiong, MBA,
Vice President - Head of Hog Farm Operations
FOUNDER
Since founding the company in May 1995, Mr. Xiong has served as VP of Technical Operations for the Company. He is the current Chairman of Jiangxi Province Hog Farm Association. He graduated from Jiangxi Agricultural University in 1992 with a Bachelor's Degree in Animal Farming and from 1992 through 1994 he worked at Jiangxi Agricultural and Technology Company as a section chief. Mr Xiong is credited for broadening the Company's markets outside of Jiangxi especially throughout the eastern farming regions of China
Jinfeng Yuan, Ph.D.,
Vice President - Technology
Dr. Yuan earned a Ph.D. degree in animal genetics from Huazhong Agricultural University and the University of Cambridge. His research area is focused on animal genetics and breeding, veterinary, molecular biology, statistics and bioinformation science. He has studied at PIC (the international leader in providing genetically superior pig breeding stock) research lab at the University of Cambridge, Tianzhong Breeder Pig Company (one of China's top breeder hog companies) and World Wildlife Fund (WWF) China.
Mr. Arnold Staloff, Chairman of Audit Committee
Independent Board Member
Mr. Staloff joins AgFeed as an independent board member as well as AgFeed's Chairman of the Audit Committee, Chairman of the Compensation Committee. Mr. Staloff began his career with the U.S. Securities and Exchange Commission (SEC), Trading and Markets Division in 1968. He is currently a member of the Board of Directors for Lehman Brothers Derivative Products Inc. and Exchange Lab Inc.
Fredric Rittereiser, Independent Board Member
Mr. Rittereiser joins AgFeed as an independent board member as well as Chairman of the Nominating Committee. Mr. Rittereiser has over 40 years of capital markets experience as senior executives at numerous Wall Street firms. He is currently an independent consultant advising global companies with market entry and strategic development issues specializing in China related projects. He is the former President of Instinet Corporation.
Lixiang Zhang, Ph.D., Independent Board Member
Dr. Zhang is a leading expert in animal nutritional science and management consulting in China. Dr. Zhang is a Professor of Agricultural Management and has served as the Assistant Dean of the College of Agricultural Development at Renmin University of China since July 2003. In 2005, he was named a Top Ten Enterprise Strategist by the Chinese government. In 2004, Dr. Zhang was named a Top Ten Best Management Consulting Expert by the Chinese Government.
Professor Bud Harmon, PhD - Technical Advisor
Dr. Bud Harmon is well known for his contribution to the American and Chinese animal science research and educational programs. He is an Emeritus Professor of Purdue University. While at Purdue, he was the Head of Animal Science Department. Dr. Harmon was a former President of the American Society of Animal Science.
Edward McMillan -
M&A Advisor
Mr. McMillan was the President and Chief Executive Officer of Purina Mills Inc., the United States’ largest manufacturer and distributor of animal nutrition products, from 1988 until 1996. He joined Purina Mills in 1969 as a field sales representative and held various positions in Marketing, Business Development and Diversified Business Management before being named President and CEO in 1988 and elected to the Board of Directors in 1993.
Robert Rittereiser, Chairman of Advisory Board
Mr. Rittereiser is the former Chief Financial Officer and Chief Administrative Officer of Merrill Lynch, former President and CEO of EF Hutton & Co., and former Chairman and CEO of the Wall Street firm Gruntal Financial LLC. Mr. Rittereiser has also served as an Industry Director for the Depository Trust Co., The National Securities Clearing Corp., and the Chicago Board of Options Exchange. In addition, he is the former Vice Chairman of the Securities Industry Association.
Short List of Products by FEED
AgFeed supplies two principle product lines: pre-mix for all stages of pig life, and blended feed specifically for the infant or piglet stage of life.
1. Pre-mix
According to the different growth stages of pig life, different components are necessary to maintain the healthy development of the animals and provide safe products for human consumption. Pre-mix additives are composed mainly of essential amino acids which play a critical role in protein digestion and absorption, vitamins, minerals, antibiotics, and growth promoters. AgFeed manufactures and sells several brand names of pre-mix which differ slightly in price and quality to cater to different levels of customer interest such as premium or no frills. Within each brand line there are products designed for differing stages of pig life such as newborn to 15kg, 15-30kg , 30-60kg, market ready, over 60kg boar, mating or pregnant, etc.
2. Piglet blends
Piglet blending feed is designed to both nourish and protect newborns. It is composed primarily of proteins such as fish meal and soy (30%) with the energy added in raw material grains such as corn and chaff (roughly 65%). It is designed for the market according to different requirements in terms of local climate and environment. Large scale piggeries are the main purchasers of piglet blends as they are especially concerned with maintaining piglet health to avoid disease and to establish a healthy weight gain foundation for the animal life cycle.
Other
As a minor product line AgFeed also produces pre-mix for the poultry industry and sold under three different brands. Sales constitute less than 10% of total sales.
At the Shanghai production center, pre-mix for the poultry industry is also produced and sold under three different brands. While pork is by far the predominant husbandry market in China, the country is second only to the United States in poultry, producing approximately 10.2 million tons of poultry in 20051. While the Company has no current plans to expand chicken feed manufactured, production can easily be increased without affecting the volume of pork feed produced.
SEC and Pinksheets Information
http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001331427&owner=include&count=40
http://www.pinksheets.com/pink/quote/quote.jsp?symbol=FEED
News
May 1 , 2008 AgFeed Industries Completes Previously Announced Acquisition of 16 Producing Commercial Hog Farms, Remains on Target to Meet or Exceed 2008 Hog Sale Estimate
http://www.agfeedinc.com/html/news20080501.asp
April 30 , 2008 AgFeed Industries to Hold 2008 Annual Meeting of Stockholders in New York City on June 3, 2008
http://www.agfeedinc.com/html/news20080430.asp
April 28 , 2008 AgFeed Industries Completes Previously Announced $25.2 Million Equity Financing
http://www.agfeedinc.com/html/news20080428.asp
April 24 , 2008 AgFeed Industries Announces Opening of the 700th Independently Owned Exclusive Feed Distribution Chain Store in China
http://www.agfeedinc.com/html/news20080424.asp
April 23 , 2008 AgFeed Industries Arranges $25.2 Million Equity Financing
http://www.agfeedinc.com/html/news20080423.asp
April 17 , 2008 AgFeed Industries Arranges $10 Million Equity Financing
http://www.agfeedinc.com/html/news20080417.asp
April 16 , 2008 AgFeed Industries Agrees to Acquire Multiple Commercial Hog Farms in China in a Favorable Market Environment
http://www.agfeedinc.com/html/news20080416.asp
Mar 24 , 2008 AgFeed Industries Engages Leading US Hog Industry Experts to Explore Strategic Options as a Platform for Access to
China's Vast Feed and Hog Raising Markets
http://www.agfeedinc.com/html/news20080324.asp
Mar 20 , 2008 AgFeed Industries Expands Its Agricultural Product Distribution Platform in China Through Its 630th Independently Owned Exclusive Retail Chain Store
http://www.agfeedinc.com/html/news20080320.asp
Mar 17 , 2008 AgFeed Industries Receives Hog Export License for the Hong Kong Market and AgFeed Experiences Higher Than Estimated Profit Margins From Hog Sales
http://www.agfeedinc.com/html/news20080317.asp
Mar 12 , 2008 AgFeed Industries Reports Record Fiscal 2007 Financial Results, Growth in Net Income of More Than 450%, Affirms 2008 Financial Guidance
http://www.agfeedinc.com/html/news20080312.asp
Mar 11 , 2008 AgFeed Industries to Report Fiscal 2007 Financial Results on March 12, 2008
http://www.agfeedinc.com/html/news20080311.asp
Mar 03 , 2008 AgFeed Industries Completes $41 Million Financing, Outlines Growth Plan for 2008
http://www.agfeedinc.com/html/news20080303.asp
Feb 26 , 2008 AgFeed Industries to Present at the JPMorgan Hong Kong/China Small Cap Days in Singapore and Hong Kong on March 13 and March 14
http://www.agfeedinc.com/html/news20080226.asp
Feb 25 , 2008 AgFeed Industries Arranges for $41 Million in Financing, Provides Sales and Earnings Guidance for 2008
http://www.agfeedinc.com/html/news20080225.asp
Feb 04 , 2008 AgFeed Industries Is Not Affected by Winter Storms in South China
http://www.agfeedinc.com/html/news20080204.asp
Jan 29 , 2008 AgFeed Industries Benefits From China's Income Tax-Exempt Status Covering the Hog Raising Industry
http://www.agfeedinc.com/html/news20080129.asp
Jan 23 , 2008 AgFeed Expands Retail Distribution Channel With the Opening of Its 510th Store
http://www.agfeedinc.com/html/news20080123.asp
Jan 22 , 2008 AgFeed Industries Names Renowned Animal Genetics Scientist as Vice President of Technology
http://www.agfeedinc.com/html/news20080122.asp
Jan 17 , 2008 AgFeed Industries Welcomes Robert Rittereiser, Senior Financial Services Industry Executive, as Chairman of Advisory Board
http://www.agfeedinc.com/html/news20080117.asp
Jan 15 , 2008 AgFeed Industries Acquires Five Chinese Hog Farms
http://www.agfeedinc.com/html/news20080115.asp
Jan 7 , 2008 AgFeed Industries Receives Chinese Government Grant
http://www.agfeedinc.com/html/news20080107.asp
Dec 18 , 2007 AgFeed Industries' Founding Executive Is Named Chairman of Jiangxi Province Hog Farm Association
http://www.agfeedinc.com/html/news20071218.asp
Dec 17 , 2007 AgFeed Industries Appoints Edward McMillan, Former Chairman of American Feed Industry Association and Former CEO of Purina Mills, the Largest Animal Nutrition Product Company in the US, as a Strategic M&A Advisor
http://www.agfeedinc.com/html/news20071217.asp
Nov 26 , 2007 AgFeed Industries Appoints Seasoned Wall Street Executives as New Directors
http://www.agfeedinc.com/html/news20071126.asp
Nov 16 , 2007 AgFeed Industries Signs $1.2 Million in Product Supply Contracts, Establishes Fourth Manufacturing Plant in China Serving China's Second Largest Feed Market -- Shandong Province
http://www.agfeedinc.com/html/news20071116.asp
Nov 13 , 2007 AgFeed Industries Announces the Opening of the 380th Independently Owned Retail Store in China, AgFeed Continues to Experience Success in Distribution Model
http://www.agfeedinc.com/html/news20071113.asp
Nov 7 , 2007 AgFeed Industries Announces Acquisition of the Largest Breeder Hog Farm in China's Jiangxi Province
http://www.agfeedinc.com/html/news20071107.asp
Oct 31 , 2007 AgFeed Industries Reports Record Third Quarter 2007 Financial Results -- Revenues Up 488%, Net Income Up 185%, EPS $0.08 Fully Diluted, First Nine Month EPS $0.17, Up 246%
http://www.agfeedinc.com/html/news20071031.asp
Oct 29 , 2007 AgFeed Industries Will Report Record 3rd Quarter Financial Results in the Week of October 29, 2007
http://www.agfeedinc.com/html/news20071029.asp
Oct 11, 2007 AgFeed Industries Approved for Listing On the Nasdaq Global Market, Transferring From the Current Nasdaq Capital Market; Stock Symbol Remains 'FEED'
http://www.agfeedinc.com/html/news20071011.asp
Sep 18, 2007 AgFeed Industries Signs Feed Supply Agreement to Supply Shanghai Hog Farm Producing 300,000 Hogs Annually -- AgFeed Provides Quality Feed Solutions Addressing China's Pork Shortage Problems
http://www.agfeedinc.com/html/news20070918.asp
Aug 27, 2007 AgFeed Industries Announces New Stock Symbol -- 'FEED'
http://www.agfeedinc.com/html/news20070827.asp
Aug 24, 2007 AgFeed Industries Approved for Listing on the Nasdaq Stock Market
http://www.agfeedinc.com/html/news20070824.asp
Aug 15, 2007 AgFeed Industries Reports 2nd Quarter Financial Results -- Net Income Up 510 Percent, Revenues Up 229 Percent, Net Income
Margin Exceeds 21 Percent, $0.06 Per Fully Diluted Share
http://www.agfeedinc.com/html/news20070815.asp
Aug 14, 2007 AgFeed Industries Will Report Record 2nd Quarter Financial Results Before Market Opens On August 15, 2007
http://www.agfeedinc.com/html/news20070814.asp
Jun 25, 2007 AgFeed Industries Announces Strategic Investment by Affiliate of Apollo Management
http://www.agfeedinc.com/html/news20070625.asp
Jun 13, 2007 AgFeed Industries Named the Only 'Most Recommended' Premix Product by China Swine Farmers Association in GuangXi
http://www.agfeedinc.com/html/news20070613.asp
Jun 4, 2007 AgFeed Industries Announces the Opening of the 120th Franchise Chain Store and Completes Tour of China by Its U.S. Board Members
http://www.agfeedinc.com/html/news20070604.asp
May 17, 2007 AgFeed Industries Welcomes Renowned Animal Nutrition Industry Expert Dr. Lixiang Zhang, Ph.D. as an Independent Board Member
http://www.agfeedinc.com/html/news200705171.asp
May 14, 2007 AgFeed Industries Reports Record First Quarter 2007 Financial Results - Revenues Up 137 Percent, Net Income Up 179 Percent, EPS $0.03 Fully Diluted on Organic Growth
http://www.agfeedinc.com/html/news20070514.asp
Apr 16, 2007 AgFeed Industries Signs $2 Million in Sales Contracts From New Product Launch in Collaboration With Professor Bud Harmon of Purdue University
http://www.agfeedinc.com/html/news20070416.asp
Mar 14, 2007 AgFeed Industries Reports Record 2006 Financial Results -- Net Income Up 75 Percent, $0.07 Per Share Fully Diluted
http://www.agfeedinc.com/html/news20070314.asp
Feb 1, 2007 AgFeed Industries Named one of China's 'Top Ten Suppliers of Safe Animal Food' by the Chinese Government Association
http://www.agfeedinc.com/html/news20070201.asp
Chart and Stock Information
Share Structure
As of May 1, 2008, AgFeed had 32,005,927 shares of common stock issued and outstanding. We do not have any other classes of stock.
Source: http://www.agfeedinc.com/html/faqs.asp
Charts
Reference
(1) http://www.agfeedinc.com
(2) http://finance.yahoo.com/q?s=FEED
(3) http://www.etrade.com
(4) http://www.pinksheets.com/pink/quote/quote.jsp?symbol=feed
_______________________________________
Updated 5 MAY 2008 by Soapy Bubbles
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