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Company:  YASHENG GROUP (HERB)
Form Type:  10-Q
Filing Date:  8/14/2014 
CIK:  0001123312 
Address:  805 VETERANS BLVD., SUITE 228 
City, State, Zip:  REDWOOD CITY, California 94063 
Telephone:  650-363-8345 
Fiscal Year:  12/31 
Last Trade
Last Trade: 
$0.22  
Change: 
0.00 (0.00%)  
Trade Time: 
Nov 17  
Market Cap: 
$34.58M
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Description of Business
Our principal shareholders holding 90.17% of our voting power have taken action by consent without a meeting approving the swap of all of the agricultural management rights of our wholly-owned subsidiary, Gansu Asia-America Trade Co., Ltd. ("GAAT") in return for the long-term lease management rights to the agricultural properties of our sister company, Gansu Yasheng Agro-Industrial and Commerce Group Co., Ltd. ("GY"). The swap was implemented pursuant to a Swap Agreement between GAAT and GY. Under the terms of the Swap Agreement, GAAT has transferred to GY its right to manage and operate seven companies which have the agricultural management rights, and GAAT received the agricultural long-term lease management rights held by GY referred to as the "Swap".