Sino Agro Foods (OTC BB:SIAF)

2012 Annual Results

• Revenues for fiscal 2012 were $138.6 million vs $51.9 in the prior year.
• Diluted EPS for fiscal 2012 were$0.63 vs $0.39 in the prior year.

Sino Agro Food, Inc. (the "Company") continues on target toward its 5-year plan of a $500M asset base. In 2012, the Company saw record financial growth and significant operational expansion complemented by progress in corporate governance, international import export business, and the planned listing on NASDAQ-OMX

GUANGZHOU, China, March 26, 2013 /PRNewswire/ -- Sino Agro Food, Inc. (OTC BB: SIAF), an emerging integrated, diversified agriculture technology and organic food company (the "Company") with principal operations located throughout the People's Republic of China ("PRC") is pleased to report highlights of its operations that will be discussed in greater detail in upcoming filings/reports.

In early 2010, the Company embarked upon a five-year plan to build and operate horizontally and vertically integrated facilities across the food production chain from pre-wholesale through retail, delivering high quality organic and sustainable food products at synergistically attractive net margins. The Company is on pace toward its planned $500M asset base. The Company now manages and is constructing nine (9) substantial fish and beef/cattle wholesale operations, with wholesale distribution and retail components expected to achieve greater prominence in 2013.

The Company looks forward to reporting next month on its revenue trajectory for 2012. Historically, the consulting and services sector was the principal revenue producer. Now, the pace of product sales is growing faster than overall revenue growth, accounting for approximately 60% and 64% of overall revenues in 2011 and 2012, respectively. Even with new farms being developed, revenues from food product sales are expected to increase to approximately 70%-75% of the total in 2013, and to approximately 85% in 2016.

The Company looks forward to reporting progress on these integrated fronts throughout the year.

The Company's progress toward applying to NASDAQ-OMX First North is moving forward. Any updates we are permitted to disclose throughout the process will be made public, once available.

In conjunction with the Company's growth, and with the broader audiences expected from the anticipated cross listing in Sweden, the Company is undertaking a new and extended communications approach. This includes new personnel that have been hired in the United States and in-house in China, as well as personnel in Sweden to be engaged in the near future.

The Company also heartily thanks Mr. Chad Sykes for his invaluable investor relation services during the Company's vital early growth period since 2009, and wishes him well in future endeavors. The Company highly values its need to readily communicate with shareholders, and appreciates the time necessary to create an effective venue.

GUANGZHOU, China, March 5, 2013 /PRNewswire/ -- Sino Agro Food, Inc. (SIAF), an emerging integrated, diversified agriculture technology and organic food company (the "Company") with principal operations located throughout the People's Republic of China ("PRC") is pleased to report progress on company operations and developments.

Change in Financing Structure

In the past, SIAF has funded its many capital development projects with income from operations, grants from the Chinese government, and equity financing. As addressed later in this letter, in recent years, the company has achieved outstanding growth resulting in triple digit revenue growth and broadly advancing earnings per share.

For FY2012, management anticipates meeting or exceeding its annual guidance of US$.68 per basic share, which the Company attributes to its operational and financing growth strategies. The Company looks forward to reporting audited results in the coming weeks including Management's Discussion and Analysis along with detailed operational results for each segment of its business.

It has been the company's target to limit incremental financing as a percent of total capital expenditures to 10% - 15%.  However, the company recognizes that in 2012 this funding required the issuance of more shares than it had anticipated, due to a low share price.

Management believes that further significant growth prospects remain ahead for the Company, and that the prospective listing in Sweden will open alternative means for financing beyond those used to date. The Company has begun investigation into these possibilities. These include raising credit lines at the subsidiary level, debt financing or hybrid debt/equity financing at the parent level, and private placement or registration of shares at a price calculated within fair values of our current Net Tangible Assets.

While equity financing remains a viable engine to fund growth over and above capital developments financed by income from operations, Management will pursue any and all financing alternatives on an opportunistic basis, striving to employ methods most accretive to its fiscal health and bottom-line.

Update on First North Listing

The Company is in the process of cross listing to the NASDAQ-OMX First North Stockholm (FN) exchange in Sweden subject to final legal due diligence, multiple third party participation and review, and application approval.

The process is moving along well, with every indication of a successful listing; however, it is not plausible to project a number of days until cross listing. What the Company can and will do is inform shareholders whenever concrete information toward cross listing is available, and a time certain once all parameters have been met and the green light is received to move forward, and/or a date certain is established.

Since the last update, some professional third parties involved in the process have commented about ensuring adequate time to complete their trusted responsibilities. FN typically requires eight (8) trading days to review the Company Description, and approval may or may not be subject to further comments or questions requiring additional time.

For those interested in on-going updates to this process and other company communication, please register for investor alerts:

GUANGZHOU, China, August 30th, 2012 — Sino Agro Food, Inc. (OTCBB: SIAF.OB), an emerging integrated, diversified agriculture technology and organic food company with its principal operations located throughout the Peoples Republic of China (“PRC”), is pleased to announce it has acquired new technologies in feedstock manufacturing, fish feed and "sleepy cod" breeding techniques.

On August 30, 2012, Sino Agro Food, Inc. (the “Company”) issued a press release regarding the Company’s livestock and fishery operations.  The press release contained a link to a corporate presentation relating to, among other items, its financial results for the second quarter of 2012.

financial results for the 1st Quarter of 2012.

 

Consolidated Financial Summary:

	Q1 2012	Q1 2011	Change
Revenue	$15,980,016	$3,121,531	411.93%
Gross Profit	$8,013,592	$1,930,916	315.02%
Net Income Continued Op's	$5,632,769	$910,913	518.37%
Basic EPS Continued Op's	$0.08	$0.02	300.00%
Diluted EPS Continued Op's	$0.07	$0.01	600.00%

GeoTeam® Note: 2012 vs. 2011 First Quarter Adjusted EPS was $0.08 vs. $0.01.

Revenue including continued and discontinued operations increased by $12,858,485, or 411.93%, to $15,980,016 for the three months ended March 31, 2012 from $3,121,531 for the three months ended March 31, 2011. The increase was primarily due to the natural growth of revenue generated from the fishery, cattle farm, beef and the maturity of ongoing divisional businesses improving their revenues.

Year End results announced on February 14, 2012Sino Agro Food, Inc. (OTCBB: SIAF.OB), an emerging integrated, diversified agriculture technology and organic food company with principal operations located throughout the Peoples Republic of China (“PRC”), is pleased to announce financial results for the fiscal year ended December 31, 2011:

Financial Summary:
					2011					2010					Change
Revenue					$51,879,903					$40,551,066					27.94%
Gross Profit					$24,928,029					$22,453,425					11.02%
Net Income					$25,894,983					$12,697,080					103.94%
Basic EPS					$0.43					$0.16					168.75%
Diluted EPS					$0.39					$0.14					178.57%
*Adjusted Diluted EPS					$0.43					$0.17					152.94%

GeoTeam® Note: We believe that management could have provided a more relevant presentation of 2011 and 2010 adjusted EPS numbers. The company only adjusted numbers for currency translation issues, but failed to take into account stock compensation expenses and bad debt gains or losses.

Furthermore,  the relevant adjusted numbers should omit the sales of one of its subsidiaries that took place in 2011.

Our adjusted numbers: 2011vs. 2010

• Year End  Adjusted EPS: $0.28 vs. $0.05
• Fourth Quarter Adjusted EPS:  $0.13 vs. $0.00

Please note that the SAIF does not pay any taxes.

Mr. Solomon Lee, Chief Executive Officer of the Company, stated, "The Company reorganized its business activities in 2011 by disposing its equity interest in its Dairy operations and stepping up the development of its fishery and beef operations dedicating efforts in quality and productivity. Results of the Company’s 2011 performance confirmed our management’s belief that the business environment and fundamentals of the dairy industry in China was not heading in the right direction. The dairy industry in China will take quite certain times before it would be able to regain the confidence of the local consumer markets (if ever). In this respect and during 2011, locally produced milk products were losing much ground against the imports, as such none of the biggest three dairy product manufacturers in China have been able to regain their sales revenues set in 2009, and overall average wholesale prices of fresh liquid milk in 2011 was lower by over 10% compared to 2010."

Welcome to Sino Agro Food, Inc.’s Annual Financial Results Conference Call for the fiscal year ended 2011. During this call, Mr. Solomon Lee, the Chief Executive Officer and Chairman for Sino Agro Food, will provide shareholders with an overview of results from operations in 2011 and guidance for 2012. Following comments by our CEO, the lines will be open for a question and answer session.

GUANGZHOU, China--(BUSINESS WIRE)--Sino Agro Food, Inc. (OTCBB: SIAF.OB), an emerging integrated, diversified agriculture technology and organic food company with principal operations located throughout the Peoples Republic of China (“PRC”), is pleased to announce that our wholly-owned subsidiary company, Macau Eiji Company Limited, has been awarded a sales contract (the “Contract”) to supply its aromatic beef to a Chinese party engaged in the purchase and sale of cattle throughout the PRC. Based on internal analysis, the Company believes that revenues generated from this Contract could potentially be worth as much as approximately US $18 million, subject to future market cattle prices and demand.

The Contract calls for the delivery of 4,000 head of cattle of Simmental and Charolais breeds. The cattle will weigh between 600kg to 750kg with meat content at 52% or more of DWT (deadweight tonnage) at time of delivery. The first 1,000 head of cattle are to be delivered by December 31, 2012 with the remaining 3,000 head delivered through fiscal year 2013.

Wholesale prices for live cattle are currently averaging $3.94-$4.73/Kg depending on locality (i.e. North or South China). Based on current demand and the above-quoted wholesale prices, the Company believes it could realize revenues of approximately $4.1M - $4.7M USD during Fiscal Year 2012 from the Contract. Barring a downturn in demand and prices, the Company believes it could realize revenues of approximately $12.3M - $14.1M USD during Fiscal Year 2013.

Mr. Solomon Lee, Chief Executive Officer of the Company, stated, "Over the past several months, beef prices have been rising sharply in China. Two months ago the wholesale price for live cattle was between $2.50 and $3.15 per kilogram. Today's prices have risen to an average of approximately USD $3.94-$4.73 per kilogram. We expect this trend to continue and we believe that we could see prices as high as USD $5.92 per kilogram by the end of Fiscal Year 2012. With the rapid rise of the middle class and improved living standards, beef markets in China are accelerating due to a greater demand for beef, especially higher quality grades. Our Aromatic Beef technology provides consumers with a product that meets these demands. We look forward to potentially announcing more beef contracts in the future as we attempt to expand our operations in 2012 with the development of more cattle farms, currently targeting the districts of Enping City and Hunan Linli, and abattoir and boning facilities on a 33,000 m2 block of land adjacent to our Xining SanJiang A-Power’s property, that is expected to be acquired this year. The Company currently has three beef cattle farms in operation located throughout China.”

Sino Agro Food, Inc. (OTCBB: SIAF.OB), a Nevada corporation and agriculture technology and organic food company with principal operations located throughout the Peoples Republic China (“PRC”), announced that its common stock has been accepted for quotation and has begun trading on the Over-the-Counter Bulletin Board (“OTCBB”) under the ticker symbol "SIAF" or "SIAF.OB".

On November 22, 2011, the Registrant held its quarterly conference call to discuss 3rd Quarter Financial Results. Mr. Solomon Lee, the Company’s Chairman and Chief Executive Officer, was available and engaged in a question-and-answer session during the conference call.

On November 15, 2011, Sino Agro Food, Inc. (the “Company”) issued approximately Six Million, Nine Hundred Seventy Five Thousand (6,975,000) shares of the Company’s common stock, par value $0.001, subject to adjustment as described below (the “Ironridge Shares”) to Ironridge Global IV, Ltd. (“Ironridge”), in settlement of $3,021,505.65 in accounts payable of the Company (the “Claim Amount”), plus attorney fees and costs. The issuance is exempt from the registration requirements of the Securities Act, pursuant to Securities Act Section 3(a)(10) as an issuance of securities in exchange for bona fide outstanding claims, where the terms and conditions of such issuance are approved by a court after a hearing upon the fairness of such terms and conditions.

The Ironridge Shares were issued pursuant to an Order Approving Stipulation for Settlement of Claims (the “Order”) between the Company and Ironridge entered by the Superior Court for the State of California, County of Los Angeles, West District (Case No. SC114815) on November 10, 2011, in settlement of bona fide accounts payable of the Company purchased by Ironridge from creditors of the Company in the aggregate amount equal to the Claim Amount, plus fees and costs.

Third Quarter 2011 Results

• Revenue including continued and discontinued operations increased by $5,517,298 or 36.34% to $20,700,466 for the three months ended September 30, 2011 from $15,183,168 for the three months ended September 30, 2010.
• For the three months ended September 30, 2011 and 2010, diluted earnings per share from continuing operations attributable to Sino Agro Food, Inc. and subsidiaries common stockholders amount to $0.10 and $0.05, respectively.

GUANGZHOU, China--(BUSINESS WIRE)--Sino Agro Food, Inc. (OTCQB: SIAF.PK), an emerging integrated, diversified agriculture technology and organic food company with principal operations located throughout the Peoples Republic China, is pleased to announce that the Company has taken steps to apply for quotation on the Over the Counter Bulletin Board (“OTCBB”). In addition, the Company has enrolled in Standard and Poor's (“S&P”) prestigious Market Access Program and Stock Report Coverage and Compliance Program, in an effort to increase communications with the investment community.

The Company is currently in talks to secure sponsorship to seek quotation on the OTCBB. The OTCBB is an SEC and FINRA regulated quotation service that displays real-time quotes, last-sale prices, and volume information in over-the-counter (OTC) equity securities. Generally, all issuers that quote on the OTCBB must be SEC registered Exchange Act reporting issuers. An OTC equity security generally is any equity that is not listed or traded on NASDAQ® or a national securities exchange. OTCBB securities include national, regional, and foreign equity issues, warrants, units, American Depositary Receipts (ADRs), and Direct Participation Programs (DPPs).

GUANGZHOU, China--(BUSINESS WIRE)--Sino Agro Food, Inc. (OTC Markets: SIAF.PK), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in the Peoples Republic of China, deems it prudent and in the best interests of its shareholders to provide the marketplace with a discussion and clarification with regards to the Company’s filings with the State Administration for Industry & Commerce (SAIC) in the Peoples Republic of China.

Management has recently been made aware that the Company may become the target of a negative campaign based on the premise that the Company’s SAIC filings do not correlate with the Company’s filings with the U.S. Securities and Exchange Commission (“SEC”). In accordance with Company policy to protect its shareholder interests, we feel it necessary to preempt these sub-par analyses interwoven with charges of non-compliance made against the Company.

To substantiate facts, the Company is pulling its SAIC filings and will make them publicly available to shareholders, upon request. Reasons for discrepancies between SAIC filings and SEC filings are numerous; however, this release addresses the most material and important of reasons.

The Company's main office in the Guangzhou Province is registered as a representative office, and is not, according to PRC law, required to submit annual financial statements to the SAIC, although we are required to file financial statements related to our Guangzhou office’s Chinese related expenses with the State Administration of Taxation (“SAT”). Therefore, no comprehensive organizational or consolidated financial statements are ever filed with the SAT, or with the SAIC, and as a result, the SAIC reports do not contain the level of detail or updated financial statements that are contained in our audited and non-audited consolidated US SEC financial reports.

In addition, many of the Company’s subsidiaries only very recently have been approved as sino joint venture companies, and subsequently no filings have been made for these subsidiaries with the SAIC or SAT. However, all revenue-generating subsidiaries have completed paid in capital requirements for formation and operation. These actions have been appropriately documented in the Company's filings with the SEC.

The Company acknowledges discrepancies in its SAIC filings dated January 13th, 2010 regarding SanJiang A Power (“SJAP”) in Xining, China. For this particular reported period, there were many sales tax exemption coupons, construction tax exemption coupons, development tax exemptions as well as government incentive grant coupons that had not been fully processed at the time of filing with the SAIC. To avoid taxation complications, and because the SAIC is not a per se regulatory agency like the SEC, SJAP filed this financial report mainly for the purpose of establishing company operations. Another of the Company's subsidiaries has similar discrepancies due to tax exemption status as an agriculture Company.

With respect to our 2011 reports to be filed with the SAIC, our subsidiaries’ tax exemptions and allowances for differences between U.S. GAAP and China’s Accounting Standards for Business Enterprises (ASBEs) will be current and incorporated, and will more closely resemble those filed with the SEC. The Company acknowledges the concerns over these discrepancies, and will work diligently to ensure complete financial accuracy and congruity between such financial statements and the financial statements contained in our audited and non-audited SEC filings.

Mr. Solomon Lee, Chief Executive Officer of the Company, stated, "I want to personally assure our shareholders that everything is in order with our filings with SAIC and that there are reasonable explanations as to why they may not currently match our filings with the SEC. We have identified the site that intends to release this information and for now will give them a chance to get the facts correct before publishing false information. Neither myself, nor our investor relations team has been contacted regarding this matter by any of these outside parties who may be responsible for future false reports in this vein. We find it extremely unprofessional and reckless, that such a website that proclaims to pride itself on providing investors information, would release such false and defamatory information to the public without first contacting the Company to check facts. It is a disservice to our shareholders and the general investment public, and may be part of an agenda unrelated to providing investors information."

GUANGZHOU, China--(BUSINESS WIRE)--Sino Agro Food, Inc. (Pink Sheet: SIAF), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in the People’s Republic of China, is pleased to announce that it received notification yesterday, September 20, 2011, from the U.S. Securities and Exchange Commission (“SEC”) stating that the SEC had no further comments with regard to the Company’s Form 10 registration statement, effectively clearing comments with the SEC. This clearance renders Sino Agro Food, Inc. a fully reporting Company pursuant to Section 12(g) of the Securities Exchange Act of 1934, as amended. The Company is now eligible, pending additional corporate measures and market pricing, to seek listing on a senior exchange.

Due to recent events and scheduling conflicts, the Company will host its previously announced conference call in mid-October 2011. On or before September 30, 2011, the Company expects to release a video presentation providing an up-close look into Company operations, growth and prospects. In the near future, the Company is expecting to further update shareholders on both the previously announced dividend as well as provide guidance and pertinent information for the remainder of the 2011 fiscal year.

Over the course of the next few months, the Company intends to launch a renewed investor relations campaign, which is intended to encompass a website renovation, incorporating social media, and commencement of a road show campaign.

Mr. Solomon Lee, Chief Executive Officer of the Company, commented with regard to the SEC clearance, “Our entire Organization is extremely proud of this monumental achievement. I am delighted to share this momentous news with our shareholders today. We’ve reached a major milestone, but there is much more work to be done. Our next step is to begin preparing the Company in anticipation of our application to list on a senior exchange. I am greatly looking forward to speaking with shareholders this October about our growth, operations and future prospects. I want to thank all of our shareholders for their patience, faith and loyalty during this period.”

Second Quarter 2011 Reuslts

• Revenues including continued and discontinued operations increased by $444,313 or 4.74% to $9,826,901 for the six months ended June 30, 2011 from $9,382,588 for the six months ended June 30, 2010. The increase was primarily due to the increase of revenue generated from the fishery, HU plantation, cattle farm, beef and the maturity of other sectors’ businesses improving their revenues even though the Company discontinued its dairy segment in January 2011. The Company earned revenue $0 for the six months ended June 30, 2011 from discontinued dairy operations as compared with revenue $8,687,057 for the six months ended June 30, 2010 from discontinued dairy operations.
• Net income (loss) from continuing operations attributable to the Sino Agro Food, Inc. and subsidiaries was $3.0 million in second quarter 2011 vs ($2.1) million in 2010. EPS was $0.05 vs ($0.09)

Plantation Harvest 

As of June 30^th, 2011, HST harvested just less than 15 million pieces of flowers which is a performance far superior to the 2010 season when HST had no harvest during June 2010 due to heavy rains and flooding. Out of which HST has sold over 6.5 million pieces of fresh flowers at an average of RMB0.55 per piece against the production cost of RMB0.18 per piece and has dried over 79.784 tons of dried flowers at production cost of around RMB13.63 per Kg with latest wholesale prices averaging RMB43 per Kg.

HST is expecting a harvest of 60 to 75 million pieces by the end of October 2011. As such HST will be able to retain a reasonable amount of dried stocks to be sold in 2012 in order to even out its yearly sales.

Fishery Operations 

By July 15^th 2011, we have two fish farms in operation.

The Enping APM fish farm is now in full operational order stocking currently over 165,000 (Sleepy Cod) fingerlings measuring from 60mm up to 120mm sized fingerlings. This farm has a total of 16 grow-out tanks, and it is anticipating that for the remainder of 2011, each tank would have a grow-out capacity to gain up to 100 Kg of net fish weight per day per tank. In this respect, we intended to arrange by August 2011 all 165,000 fingerlings to be kept in no more than 8 tanks. The remaining 8 tanks will be used to keep and grow out fish from new stock that will be of larger size (i.e. from 300 gm sized fish and upward) in order that revenues will be generated more quickly. The reason we could not house much bigger fish in quantity earlier on, is that bacteria in the Bio-filters required time to grow to a respectable quantity in order that enough soluble waste will be consumed to maintain the water quality of the tank. Based on this arrangement, we are expecting up to 250 tons of fish sales to be generated on or before December 31^st, 2011.

The Company contracted 600 Mu (about 100 acres) of open dam fish farming in April 2011 with a local fish grower to grow up to 600,000 fish for and on behalf of CA between 2011 and 2012. We have stocked these dams with over 600,000 fingerlings ranging from 40mm up to 120mm, and fish ranging from 200 gram up to 350 gram. The grow-out of these fish is based on a fixed cost basis in that the grower is responsible for the mortality factor such that we are guaranteed to have a minimum of 300 tons of fish for sales within the contracted period. In this respect we are anticipating that there will be a minimum of 100 tons of fish sales to be generated from these dams on or before the year end of 2011.

Livestock, Feedstock and Fertilizer Operations 

As of June 30, 2011 there was 14,575.4 Tons of fertilizer manufactured at cost of average of RMB406.92 per Ton and sales of 13,402.44 Tons at an average sale price of RMB948.99 per Ton.

There was 226.89 Tons of live-stock feed manufactured at cost of RMB426.86 per Ton which was mainly used in-house to feed its own cattle at an internal sales price averaging RMB669.85 per Ton.

As of July 15^th, 2011, Qinghai SanJiang A Power Agriculture Co. Ltd. is housing over 860 head of young cattle.

GUANGZHOU, China--(BUSINESS WIRE)--Sino Agro Food, Inc. (Pink Sheet: SIAF), an emerging integrated, diversified agriculture technology and organic food company with subsidiaries operating in China, is pleased to provide an update on its aquaculture projects.

The Company currently has two joint venture projects underway, Enping City Bi Tao A Power Prawn Culture Development Co. Ltd., and Enping City Bi Tao A Power Fishery Development Co. Ltd., both of which the Company holds a 25% equity stake in. Both facilities use the Company’s A Power technology.

Enping City Bi Tao A Power Prawn Culture Development Co. Ltd.

On February 11, 2011, an AP Technology Consulting Services Agreement between Capital Award, Inc., a wholly owned subsidiary of Sino Agro Food, Inc., and a group of Chinese businessmen, was executed to begin the development and construction of a prawn farm in Enping District, Guangdong Province, China. On May 23rd, 2011, local authorities approved the engineering and building plans, construction commenced shortly thereafter. To date, all earth works have been completed, perimeter fencing installed and a new electrical substation brought online. It is anticipated that phase one construction will be completed on or before September 30th, 2011. Phase one production is expected to produce some 500 Tons per year. There are four stages of development planned with total annual production expected to reach 2,000 tons of quality seafood and prawns per mid-year of 2013.

This new and modern aquaculture system technology pioneered by Capital Award Inc. to grow prawns indoor and on land under controlled environment, based on water re-circulation and recycling methods similar to our A Power Fish farm is to the best of management’s knowledge, the first of its kind in the world. The grow-out systems and tanks are modular in design and have the following features:

• Solid waste separator and filters to collect all solid waste from the water.

• Gravitation channels for the moving and grading of prawns between tanks.

• Sand based multi-purpose filtration systems for the habitation of prawns.

• Un-soluble waste bio-filters to absolve all un-soluble waste.

• Fine screen separators to keep the fingerlings in the tanks.

• Disinfection and antiseptic compartments.

• Diseases eliminator compartments.

• O3 generator compartments.

• O2 injector chambers.

• Sun-light penetrators.

• Heat exchangers.

The system is designed to eliminate many problems that are associated with traditional prawn aquaculture systems and methods used in many Asian countries including China. Apart from the advantage derived from the controlled growing environment, it has many economical advantages as well, such as:

• Power consumption (i.e. US$188. / Ton of production based on rate of US$0.11/Kw)

• Water Consumption (i.e. Average of 35,000 l of water / Ton of production)

• Mortality rate: (i.e. for the growing prawns from visible fingerlings at 10%)

• Feed Conversion rate (i.e. Average on 1 kg of feed to 1 kg of prawn).

• Farm labor (i.e. 150 man hours per ton of production)

Enping City Bi Tao A Power Fishery Development Co. Ltd.

Construction on the facility was completed in late 2010 and stocking operations commenced in early 2011. To date, 12 out of 16 grow tanks are in full operation stocked with approximately 120,000 x 60mm fingerlings, 80,000 x 80mm small fish and 50,000 x 100mm sized fish. The largest batches of fish are estimated at 20,000 x 120mm in size. Mortality rates have been recorded at approximately 10% in line with previous estimates. At the current growth rate, the first batch of 20,000 x 120mm fish should reach marketable size of an estimated 500 grams per fish on or before October 30, 2011.

The A-Power Technology Difference

A-Power Technology ("APT") is an engineered, self-contained water treatment and re-circulating aquaculture system ("RAS") for the growing of aquatic animals on a commercial scale. It mainly consists of the A-Power Grow Out Basin and the A-Power Treatment Stack equipment and operating techniques and procedures which Capital Award has established as essential or desirable for the establishment development and operation of the A-Power aquaculture system. In an APT designed fish growing system, fish produced are free from diseases commonly associated with other outdoor aquaculture methods. The system is fully integrated, automated and climate-controlled. With strict water quality management, APT fish growing system creates a stress-free environment for the fish. These ideal growing conditions enable improved productivity, mortality rates of less than 8% and feed-to-fish conversion ratio of 1:1 for pallet feed and 2:1 for non pallet feed. The system is housed on land in an enclosed environment under fully controlled conditions, and by avoiding contact with any outdoor contamination and using treated water; APT RAS produces healthy farmed fish guaranteed free of antibiotics and other pollutants.

It is an environmentally friendly system that recycles all water used in the farm. It enables the production and supply of fish in the vicinity of urban area all year round consistently. The RAS has been commercially applied in Europe and Australia for the past 30 years and APT has been commercially developed and used in Australia since 1998. However the RAS and APT are relatively new to the Asian countries including China.

　

　

　

　

On May 30th through May 31st, 2011, the Registrant will be participating in the Jordon Fund Conference, a privately organized conference sponsored by the Jordon Fund and Pensar Bank and held in Stockholm, Sweden at the Stockholm City Centre and the Pensar Bank Corporate Centre (the “Conference”). The Conference is not open to the general public; however the Registrant anticipates that many current shareholders will be present. The presentation that the Registrant intends to deliver at the conference is filed as Exhibit 99.1 to this Form 8-K.

Guidance  Based on 2010 Year End Conference Call Notes:

1.  Capital Awards (Fishery)

• Capital Award expects increased revenue in 2011 from construction, management and developer fees for its A Power RAS systems.
• Current and planned projects for 2011 are estimated by the Company to generate $32.2M dollars.
• Operating costs are estimated by the Company to be approximately $12.6M in 2011.
• Gross profit is estimated by the Company to be $19.5M in 2011.  

2.  HU Plantation

• Revenue for 2011 is estimated by the Company to be approximately $6.5M.
• Gross profit for 2011 is estimated by the Company to be approximately $4.7M.

3. Beef Feedstock and fertilizer

• The Company’s beef, feedstock and fertilizer operations are set to expand in 2011 with the addition of at least two new joint ventures.
• The Company purchased $52.7M of land use rights in China to support growth.
• Combined revenue for 2011 from expanded operations are estimated by management to reach approximately $19M
• gross profit of approximately $6.4M.

4. Consolidated Guidance

• Total revenue expected to increase to $58.3M for 2011.
• Total cost of goods estimated to be approximately $27.4M.
• Total gross profit estimated to increase to $30.8M.
• Earnings per share of approximately $0.39 cents fully diluted. Basic earnings per share of approximately $0.43 cents EPS reflects a strong push toward improving operations and our bottom line in the future.

Note: SIAF sold its dairy business

• In an agreement signed February 15, 2011 between Hang Yu Tai Investment Ltd. (“HYT”) a wholly owned subsidiary of Sino Agro Food, Inc. and Mr. Sun Ximin (“SUN”), HYT has agreed to sell its 78% equity stake in ZX and SUN has agreed to purchase HYT’s holdings resulting in the divestment of ZX. Total consideration for the sale was $31M, or the equivalent to 78% of ZX’s net assets plus a surplus sum of $4.9M.
• Proceeds from the sale went towards purchase of land to support current and planned joint venture projects. The Company expects to record a profit of $8.4M on the sale of the dairy in 2011

We would like to know if the $8.4 million is included in company 2011 full year guidance.  We are investigating the terms and nature of the dairy transaction.

GeoTeam® Note: 2010 vs. 2009 Adjusted EPS

• Full Year: $0.25 vs. $0.13

3rd Quarter Financial Results

• Revenues increased by $6,778,232 or 59.5% to $11,395,223 for the Q3 period ended September 30, 2010 from $4,616,991 for the Q3 period ended September 30, 2009.

• Gross Profit increased by $4,674,284 or 65.6% to $7,089,064 for the Q3 period ended September 30, 2010 from $2,414,780 for the Q3 period ended September 30, 2009

• Net Profit for Q3 period ended September 30, 2010 is $7,220,202, net of Gross Profit of $7,089,064 plus Exchange gain of $2,202,824 minus all General administration expenses and minority interest etc. of $2,071,686 for the Q3 period ended September 30, 2010.

• For the 9 months ended September 30, 2010, our net income from operation was $11,174,356 or $0.19 per share on a fully diluted basis. There are no changes to Company guidance for the remainder of 2010.

Added to the GeoSpecial list on October 16, 2009 @ $0.98

Catalyst: Was selling below book; It appeared that the company was very close to gaining compliance with the SEC to help facilitate an up-listing; Joint venture projects were on the verge of implementation; Bullish guidance.
Peak performance: Reached a high of $1.90 on
Current price::  

Current road block: The company has not reported a break out EPS number; 2010 first quarter revenues were flat; Still awaiting details on Joint Venture status; Not current with SEC filings; Company has yet to issue the anticipated dividend.

Remains on the GeoSpecial list: As we stated in our May 6, 2009 alert, when the stock broke the $1.00 mark to the downside, SIAF is likely only suited for risk tolerant investors. Since this new cautious stance, shares have fallen to $0.53. Although the company has maintained its 2010 guidance of $0.29, we are finding this somewhat hard to believe, especially with no status updates on its J.V. projects that are expected to play a large factor in future growth, and given that the 2010 first quarter EPS was only $0.03.  An investment in SIAF is a tough call. If guidance is met, investors could be well rewarded by buying the stock at current levels. However, many things have to come together. As we have stated on numerous occasions, current market conditions have led us to consider higher quality and more certain ideas.

GeoSpecial Sino Agro Food shares are inching up this morning, possibly in response to a press release issued this morning announcing it:

• Approved a dividend policy starting in fiscal year 2010.
• Is planning a shareholder conference call January 5th, 2010 at 11:00AM EST to discuss the dividend policy, current operations, efforts to seek quotation on the OTCBB and guidance for 2010.

Investors may view this news as management's commitment to enhancing shareholder value and a sign that cash flow generation is strong and improving.  The GeoTeam® believes that issuing guidance is a necessary step needed to instill investor confidence as SIAF trades on the Pink Sheets.