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These guys beat my expectations in getting this issue resolved so quickly.

From the following article

During the first quarter of 2012 the Company collected $140 million of $154 million accounts receivable, net of allowance for doubtful accounts at the end of 2011."

It seems with tight credit conditions the distributors took advantage of Yongye credit terms. Again, from the article...

Recent tightening of local credit markets has increased utilization of the Company's full six month credit term by its distributors, which contributed to the Company's account receivables at the end of 2011. The delay in payments from the distributors was not due to excessive inventories of unsold product held by such distributors, nor was it due to a decrease in demand for Yongye products among distributors and end customers.

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