YaSheng Group Prepares To Apply for Listing on the NASDAQ National Market

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YaSheng Group Prepares To Apply for Listing on the NASDAQ National Market

SAN FRANCISCO, CALIFORNIA, Feb. 24 -/E-Wire/-- YaSheng Group (OTC:YHGGF; Shanghai:600108) announced today that it has taken the initial steps to list its company's common shares on the NASDAQ National Market.

"We believe a NASDAQ listing is the best choice for us as we look to raise the investment community's awareness about YaSheng Group," said Mr. Zhou ChangSheng, the Chairman of YaSheng Group. "The company is reviewing several options, such as utilizing American Depositary Receipts. With over $1.5 billion in total assets, we believe we can meet the qualifications to list YaSheng Group on a large US exchange."

In preparation for possible listing on the NASDAQ Nation Market, YaSheng recently began bringing its audits into compliance with SEC required US GAAP accounting standards. If successfully listed, YaSheng will be one of the largest agricultural companies listed on the NASDAQ National Market.

Any actual application by YaSheng for listing on the NASDAQ National Market is subject to approval by the NASDAQ.

For the nine months ended September 30, 2003 the company reported total revenue of $574,558,072 USD, with a gross profit of $122,220,469 USD for the same period in 2003. YaSheng Group reported a net income of $44,837,246 USD, or .075 EPS for the nine-month period ended September 30, 2003. For nine months ended September 30, 2003 the company reported total assets of $1,533,282,402.

A full outline of YaSheng Groups financial earnings can be viewed on the Company website at http://www.yasheng.com/report.htm.

YaSheng Group controls 10,000,000 producing acres in China with 15,500 employees. Through its 100 subsidiaries, the company operates in chemical engineering, agricultural production, textile products printing and dyeing, commercial trading, as well as beverage and inorganic salt manufacturing.

YaSheng Group produces over 51 major products in the northwest of China, seven of which have received the national "Green Award" for the environment and health. The company is recognized nationally for meeting all industry quality and environmental standards. Their products are sold nationally and exported regularly to the U.S., Canada, Australia, Pakistan, Iran, and many major countries in Europe and Asia. Major exports include sodium sulfate, sodium sulfide, vinyl fibers, barley, hops, fine spirits, licorice root, black melon seed, livestock, and many more agricultural, biotechnology and industrial products. Domestically YaSheng runs several educational and job training campuses. They are in the process of accomplishing the implementation of an e-commerce marketplace that will act as a hub for a commodities exchange for the northwest of China.http://www.yasheng.com

The Company currently trades in the U.S. under the symbol YHGGF, and on the Shanghai Exchange under the symbol 600108.

Forward-Looking Statements

Certain statements contained in this press release are forward-looking statements that involve risks and uncertainties. The statements contained herein that are not purely historical are forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Forward-looking statements deal with the Company's current plans, intentions, beliefs and expectations and statements of future economic performance. Statements containing terms like "believes," "does not believe," "plans," "expects," "intends," "estimates," "anticipates" and other phrases of similar meaning are considered to imply uncertainty and are forward-looking statements.

Forward-looking statements involve known and unknown risks and uncertainties that may cause the Company's actual results in future periods to differ materially from what is currently anticipated. Factors that could cause or contribute to such differences include those discussed from time to time in reports filed by the Company with the Securities and Exchange Commission. The Company cannot guarantee its future results, levels of activity, performance or achievements.

Margaret Ping, [REDACTED-PHONE]

[REDACTED-EMAIL]

http://www.yasheng.com

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