【出版时间及名称】：2010年4月中国农业研究报告
        【作者】：BREAN MURRAY
        【文件格式】：pdf
        【页数】：32
        【目录或简介】：

Contents
CHINA AGRIBUSINESS IS ON THE RISE, WITH STRONG GOVERNMENT SUPPORT ..................................... 3
FROM INORGANIC TO ORGANIC: LONG-TERM TRENDS BENEFITING ORGANIC FERTILIZER
MANUFACTURERS ...................................................................................................................................... 5
HUMIC ACID/FULVIC ACID-BASED FERTILIZERS .......................................................................................... 8
COMPETITIVE LANDSCAPE .......................................................................................................................... 9
YONGYE INTERNATIONAL INC. (YONG) ..................................................................................................... 11
Long-term Potential Catalysts .............................................................................................................. 11
Shengmingsu – Life Nutrient Products ................................................................................................. 12
Scalable Distribution Model While Building “Shengmingsu” as a Household Name .......................... 12
Growth Drivers .................................................................................................................................... 13
Financial Performance Analysis ............................................................................................................ 14
Model Assumptions .............................................................................................................................. 15
Valuation .............................................................................................................................................. 16
Corporate Structure .............................................................................................................................. 17
Management Team .............................................................................................................................. 18
CHINA GREEN AGRICULTURE (CGA) .......................................................................................................... 19
Diversified Humic Acid-Based Organic Fertilizers ................................................................................ 19
Market-Leading Margins Achieved by Automated Production Line and High-End Products ............. 19
Fertilizer Products Distribution ............................................................................................................ 20
Agriculture Products Distribution ........................................................................................................ 21
Growth Strategies ................................................................................................................................ 21
Financial Performance Analysis ............................................................................................................ 21
Model Assumptions .............................................................................................................................. 23
Valuation .............................................................................................................................................. 24
Upside Risks ......................................................................................................................................... 24
Downside Risks .................................................................................................................................... 24
Corporate Structure .............................................................................................................................. 25
Management Team .............................................................................................................................. 26
APPENDIX: FINANCIAL STATEMENTS ........................................................................................................ 27