Hanfeng Announces Third Quarter Fiscal 2010 Financial Results

Hanfeng Evergreen Inc.(TSX:HF) announced its financial results for the third quarter and nine months of fiscal 2010 ended March 31, 2010.

The press release is quoted as saying:

In the third quarter of fiscal 2010, Hanfeng’s average selling price for SCR was RMB 2,737 per MT, compared to RMB 3,032 per MT in the quarter ended March 31, 2009. The reduction is primarily the result of continued weakness in the price of urea, phosphate and potash (conventional fertilizers), which are the raw materials for Hanfeng’s SCR and collectively account for approximately 90 percent of Hanfeng’s cost of goods sold, as well as being the primary competition in the China agriculture market.

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