China Growth Stocks

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YHGG - Yasheng Group Adopts Charters for the Audit and the Corporate Governance and Nominating Committees

http://finance.yahoo.com/news/Yasheng-Group-Adopts-Charters-iw-712002997.html?x=0&.v=1

looks like they really are wanting to uplist...

Press Release Source: Yasheng Group On Monday October 18, 2010, 8:00 am

(bold added...)

REDWOOD CITY, CA--(Marketwire - 10/18/10) - Yasheng Group (Pinksheets:YHGG - News), a high-growth diversified China-based agricultural company with US headquarters in California, today announced that its Board of Directors adopted charters for the governance of three Board committees, effective October 1, 2010.

Chairman Zhou Changsheng commented, "Following the recent appointment of several independent Board members, our Board created and adopted the charters for several important committees. These represent further progress in our efforts to strengthen our overall corporate governance structure, transparency, and ultimately the creation of shareholder value. We are aware that a lot of investors consider corporate governance issues in making investment decisions and link good corporate governance with strong stock performance. We also believe that the adherence to strict corporate governance is an important step in securing a listing on a senior exchange."

All three committees are composed of directors from the Board who are independent of the management of the company. The Audit Committee of the Board consists of Messrs. Zhang Xinmin, Wei Tingwu, and Wang Anxue as members with Mr. Zhang Xinmin serving as committee Chairman. The Compensation Committee of the Board consists of Messrs. Yang Baoquan, Liu Darong and Wang Anxue as members and Mr. Yang Baoquan as committee Chairman. The Corporate Governance and Nominating Committee of the Board is made up of Messrs. Liu Darong, Yang Baoquan and Zhang Xinmin with Mr. Liu Darong as committee Chairman. (For additional background information on Yasheng Group's directors, please see press release dated October 11, 2010).

Yasheng Group

Yasheng Group (Pinksheets:YHGG - News) (www.yashenggroup.com), founded over 30 years ago, is a US holding company that conducts primarily agricultural operations in the Northwest of China. Today it is one of China's leading producers and marketers with six major product segments including field crops, vegetables, fruit, specialty crops, hops, hemp, seeds, beef and poultry. Yasheng is a supplier of high-quality agricultural products to world-famous conglomerates such as McDonald's, KFC, Tsingtao Beer, and Pepsi. The company is led by a highly qualified management team and it has total assets of approximately $1.7 billion, over 15,000 employees, and a history of strong sales and earnings growth.