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Chinese firm Yongye swings to loss in first quarter

10:36 AM MDT | May 13, 2013 | Deepti Ramesh

Crop nutrient company Yongye International (Beijing) reports a net loss of $0.6 million in the first quarter, ended 31 March, compared with a net profit of $16.4 million in the corresponding period of 2012. First-quarter sales decreased 29.7% to $45.3 million, primarily because of the decreased sales of liquid crop nutrient products, the company says. Yongye has production facilities located at Hohhot, in Inner Mongolia, China. Yongye mainly produces liquid crop nutrient products; the company also produces powder animal nutrient products. Sales of Yongye's...

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