UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): November 15, 2017
CHINA GREEN AGRICULTURE, INC.
(Exact name of Registrant as specified in charter)
| Nevada | 001-34260 | 36-3526027 | ||
| (State or other jurisdiction | (Commission File Number) | (IRS Employer | ||
| of incorporation) | Identification No.) |
| 3rd Floor, Borough A, Block A. No. 181, |
| South Taibai Road, Xi’an, Shaanxi Province |
| People’s Republic of China 710065 |
| (Address of principal executive offices) (Zip Code) |
Registrant’s telephone number, including area code: +86-29-88266368
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ | Written communications pursuant to Rule 425 under the Securities Act (17CFR230.425) |
| ☐ | Soliciting material pursuant to Rule14a-12 under the Exchange Act (17CFR240.14a-12) |
| ☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17CFR240.14d-2(b)) |
| ☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17CFR240.13e-4(c)) |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
| Item 2.02 | Results of Operations and Financial Condition. |
On November 15, 2017, China Green Agriculture, Inc., a corporation incorporated under the laws of the State of Nevada (the “Company”), issued a press release announcing (i) certain financial results for the first quarter ended September 30, 2017 of fiscal year 2018; (ii) the guidance for the revenue and net income for the second quarter ended December 31, 2017 and the fiscal year ended June 30, 2018; and (iii) a conference call to be held by the Company on Wednesday, November 15, 2017 at 7:30 a.m. Eastern Time to discuss the results of operations for the first quarter ended September 30, 2017. A copy of the press release is attached hereto as Exhibit 99.1.
| Item 9.01 | Financial Statements and Exhibits. |
| (d) | Exhibits. |
The following is filed as an exhibit to this report:
| Exhibit No. | Description | |
| 99.1 | Press Release, dated November 15, 2017. |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Date: November 15, 2017
| CHINA GREEN AGRICULTURE, INC. | ||
| (Registrant) | ||
| By: | /s/ Tao Li | |
| Name: | Tao Li | |
| Title: | Chief Executive Officer | |
| 3 |
Exhibit 99.1
China Green Agriculture Reports First Fiscal Quarter 2018’s Financial Results, Meets Guidance, and Confirms Full Year Guidance
XI’AN, China, Nov 15, 2017 /GLOBE NEWSWIRE / --
China Green Agriculture, Inc. (NYSE: CGA; “China Green Agriculture” or the “Company”), a company which mainly produces and distributes humic acid-based compound fertilizers, varieties of compound fertilizers and agricultural products through its subsidiaries and variable interest entities in China, today announced its financial results for the first quarter of Fiscal Year 2018, and confirmed guidance for full Fiscal Year 2018.
Summary
First Fiscal Quarter 2018 Results (USD)
(Three Months ended September 30, 2017)
| ● | Net sales of 62.8 million. |
| ● | Gross Profit of 19.1 million. |
| ● | Net Income of 5.1 million. |
| ● | EPS (Diluted) of $0.13 based on 38.5 million fully diluted shares. |
Guidance
| ● | 2nd Fiscal Quarter 2018: management expects Revenue of $58 million to $65 million; Net Income of $4.7 million to $6 million; EPS of $0.12 to $0.16 based on 38.5 million fully diluted shares. |
| ● | Fiscal Year 2018: management confirms to expect Revenue of $263 million to $301 million; Net Income of $21 million to $30 million; EPS of $0.54 to $0.77 based on 38.5 million fully diluted shares. |
“We had finished a solid first quarter in a new fiscal year,” said Mr. Tao Li, the Chairman and CEO of the Company. “With strong engagement in both manufacturing and wholesales business, our company’s fundamentals continue to improve. In this environment, we delivered robust results during the quarter. We expect that with both manufacturing and wholesales business in place we will continue to optimize our performance, with the potential for a great fiscal year 2018. “
Conference Call
The Company will hold a conference call at 7:30 a.m. EST on Wednesday, November 15, 2017. Any interested participants are welcome to join in the call by following the dial-in details as set out below.
| US Dial In (toll free): |
1-866-682-6100 |
|
| Int’l Dial In: | 1-404-267-0373 |
A playback will be available through November 22, 2017. To listen, please call 1- 888-640-7743 within the United States or 1-754-333-7735 when calling internationally. Replay Access Code# 140385.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 concerning the Company’s business, products and financial results. The Company’s actual results may differ materially from those anticipated in the forward-looking statements depending on a number of risk factors including, but not limited to, the following: general economic, business and environment conditions, development, shipment, market acceptance, additional competition from existing and new competitors, changes in technology, the execution of its ten-year growth plan, the foreign exchange risk amid the unexpected announcements by the PRC government and various other factors beyond the Company’s control. All forward-looking statements are expressly qualified in their entirety by this Safe Harbor Statement and the risk factors detailed in the Company’s reports filed with the SEC. China Green Agriculture undertakes no duty to revise or update any forward-looking statements to reflect events or circumstances after the date of this release, except as required by applicable law or regulations.
For more information, please contact:
China Green Agriculture, Inc.
Tel: +86-29-88266383
Email: info@cgagri.com
SOURCE: China Green Agriculture, Inc.