XI'AN, China, Feb. 19, 2013 /PRNewswire-FirstCall/ -- SkyPeople Fruit Juice, Inc. (NASDAQ: SPU) ("SkyPeople" or "the Company"), a producer of fruit juice concentrates, fruit juice beverages and other fruit-related products, announced today that Mr. Hongke Xue has been appointed to serve as Chief Executive Officer and director of the Company, effective on February 18, 2013, replacing Mr. Yongke Xue, who has resigned from his position as the Company's Chief Executive Officer, effective February 18, 2013. Mr. Yongke Xue will continue his role as the Chairman of the Board of the Company. Mr. Yongke Xue's resignation was for personal reasons and is not related to any disagreement with the Company regarding financial, operational or other practices.
SkyPeople is grateful to Mr. Yongke Xue for his leadership and immense contribution to the Company which have resulted in its strong growth The Company believes that Mr. Yongke Xue's leadership laid a solid foundation for the Company's future development, and the Company has benefitted from Mr. Yongke Xue's vision, knowledge and insight of the industry. The Company will continue to benefit from Mr. Yongke Xue's leadership in his capacity as Chairman of the Board. In an unrelated event, the Company announced that Ms. Xiaoqin Yan has resigned as a member of the Company's Board of Directors effective February 19, 2013. Ms. Yan's resignation was for personal reasons and is not related to any disagreement with the Company regarding financial, operational or other practices. The Company thanks Ms. Yan for her service to the Company in this capacity. The newly appointed CEO, Mr. Hongke Xue, has been elected by the Board to serve as a director of the Company, replacing Ms. Yan.
Mr. Hongke Xue has been Chairman & CEO of SkyPeople Juice Group Co., Ltd., the operating entity that is 99.78% owned by SkyPeople, since 2003. Mr. Hongke Xue is the brother of Mr. Yongke Xue. Previously, Mr. Hongke Xue was CEO of Tianjin Tangshan Fengyuan Metal Products Co., Ltd., a sino-foreign joint venture, from March 2002 to March 2003, and General Manager of Baoji Industrial Products Co., Ltd., a wholly foreign owned enterprise, from April 2001 to March 2002. He also served as deputy general manager of Shaanxi DePu Industry and Trade Co., Ltd. from October 1997 to April 2001. Mr. Hongke Xue holds a bachelor degree in business management from Lanzhou University of Finance and Economics. As Mr. Hongke Xue is highly knowledgeable of, and familiar with, the Company's day-to-day operations and strategic goals, the Company anticipates a seamless transition of the management and looks forward to sustained growth under Mr. Hongke Xue's leadership.
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 99.78% ownership interest in SkyPeople Juice Group Co., Ltd. ("SkyPeople ( China)"). SkyPeople ( China), together with its operating subsidiaries in China, is engaged in the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in the PRC and overseas markets. Its 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
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