XI'AN, China, Feb. 6, 2017 /PRNewswire/ -- SkyPeople Fruit Juice, Inc. (NASDAQ: SPU) ("SkyPeople" or "the Company"), a producer of fruit juice concentrates, fruit juice beverages and other fruit-related products, today announced that the Company has regained compliance with the listing requirements of the NASDAQ Stock Market ("Nasdaq").
On February 2, 2017, the Company received a letter from a Hearings Advisor of the Nasdaq Office of General Counsel confirming that the Company has regained compliance with Nasdaq's filing delinquency rule as required by the Nasdaq Hearing Panel's decision dated January 2, 2017. The Company is also in compliance with other applicable requirements as set forth in the decision as required for listing on the Nasdaq Global Market.
"We are pleased to be in compliance with Nasdaq's listing requirements as we have filed all of our SEC reports by the date required and are now current in our financial reporting," said Mr. Hongke Xue, Chief Executive Officer of SkyPeople. "We appreciate the support and confidence of our shareholders during this time where we fell behind in our reporting due to unforeseen circumstances."
"We view this as an exciting time for the company as our vision is to be a fully-integrated company in the agricultural and food products industry. We are focused upon employing our first-class plantation technologies, innovative fruit processing capabilities and healthy products R&D to vertically integrate our businesses and secure a steady supply of raw materials," Mr. Xue continued.
"We will also continue to develop our fruit juice concentrates sector, gradually expand the end product sales of our Hedetang fruit juice beverage line and accelerate the development of our e-commerce marketing efforts. We anticipate that our modernization and strategic growth initiatives will yield positive results which will result in our being a leader in our space," concluded Mr. Hongke Xue, Chief Executive Officer of SkyPeople.
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc., a Florida company, through its wholly-owned subsidiary Pacific Industry Holding Group Co., Ltd. ("Pacific"), a Vanuatu company, and SkyPeople Juice International Holding (HK) Ltd., a company organized under the laws of Hong Kong Special Administrative Region of the People's Republic of China and a wholly owned subsidiary of Pacific, holds 73.42% ownership interest in SkyPeople Juice Group Co., Ltd. ("SkyPeople (China)") and 100% ownership interest in SkyPeople Foods (China) Co., Ltd. ("SkyPeople Foods China"). SkyPeople (China) and ("SkyPeople Foods China"), together with their operating subsidiaries in China, are engaged in the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in the PRC and overseas markets. The Company's fruit juice concentrates are sold to domestic customers and exported directly or via distributors. Fruit juice concentrates are used as a basic ingredient component in the food industry. Its brands, "Hedetang" and "SkyPeople," which are registered trademarks in the PRC, are positioned as high quality, healthy and nutritious end-use juice beverages. For more information, please visit http://www.skypeoplefruitjuice.com.
Safe Harbor Statement
Certain of the statements made in this press release are "forward-looking statements" within the meaning and protections of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended, or the Exchange Act. Forward-looking statements include statements with respect to our beliefs, plans, objectives, goals, expectations, anticipations, assumptions, estimates, intentions, and future performance, and involve known and unknown risks, uncertainties and other factors, which may be beyond our control, and which may cause the actual results, performance, capital, ownership or achievements of the Company to be materially different from future results, performance or achievements expressed or implied by such forward-looking statements. All statements other than statements of historical fact are statements that could be forward-looking statements. You can identify these forward-looking statements through our use of words such as "may," "will," "anticipate," "assume," "should," "indicate," "would," "believe," "contemplate," "expect," "estimate," "continue," "plan," "point to," "project," "could," "intend," "target" and other similar words and expressions of the future.
All written or oral forward-looking statements attributable to us are expressly qualified in their entirety by this cautionary notice, including, without limitation, those risks and uncertainties described in our annual report on Form 10-K for the year ended December 31, 2015 and otherwise in our SEC reports and filings, including the final prospectus for our offering. Such reports are available upon request from the Company, or from the Securities and Exchange Commission, including through the SEC's Internet website at http://www.sec.gov. We have no obligation and do not undertake to update, revise or correct any of the forward-looking statements after the date hereof, or after the respective dates on which any such statements otherwise are made.
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SOURCE SkyPeople Fruit Juice, Inc.