SkyPeople Fruit Juice to Begin Trading on NASDAQ
XI'AN, China, April 8 /PRNewswire-Asia-FirstCall/ - SkyPeople Fruit Juice, Inc. (NYSE Amex: SPU) ("SkyPeople" or "the Company"), a processor and manufacturer of kiwifruit, apple, and pear fruit juice concentrates for sale in international and domestic markets, and a distributor of fresh kiwifruits and manufacturer of Hedetang(R)-branded fruit beverages for sale in domestic markets, today announced that its board of directors has approved the decision to switch the listing of its common stock from the American Stock Exchange to the NASDAQ Stock Market. Effective as of the close of trading on April 19, 2010, the company will cease trading on AMEX. Upon the opening of trading on April 20, 2010, the company's shares will commence trading on NASDAQ under the symbol "SPU".
"This decision was reached after analysis of the electronic market model, which provides added visibility to our investors," said Mr. Yongke Xue, Chairman and CEO of SkyPeople, "We believe that NASDAQ's market maker structure will also provide our company exposure and liquidity, while at the same time provide investors with the best prices and the fastest execution. As the world's largest electronic stock market, NASDAQ promotes innovation and attracts leading growth companies from a diverse group of sectors. We are proud to be a part of NASDAQ," Xue concluded.
About SkyPeople Fruit Juice, Inc.
SkyPeople Fruit Juice, Inc., a Florida company, through its wholly-owned subsidiary Pacific Industry Holding Group Co., Ltd., a Vanuatu company, holds 99% ownership interest in SkyPeople Juice Group Co., Ltd. ("SkyPeople (China)"). SkyPeople (China) is a company organized according to the laws of the People's Republic of China. SkyPeople (China)'s main products are concentrated apple, kiwifruit, pear and other fruit juices for domestic and international consumers. Its brand, HEDETANG(R), is positioned as a high quality, healthy and nutritious juice concentrate and clear juice product used both as an ingredient component in other products and an end-use juice concentrate product. SkyPeople (China) utilizes the largest kiwifruit plantation in China and is a leading producer of concentrated kiwifruit juice in Asia. For more information, please visit http://www.skypeoplefruitjuice.com .
About NASDAQ
NASDAQ is the largest U.S. electronic stock market. With approximately 3,200 companies, it lists more companies and, on average, its systems trade more shares per day than any other U.S. market. NASDAQ is home to companies that are leaders across all areas of business including technology, retail, communications, financial services, transportation, media and biotechnology. NASDAQ is the primary market for trading NASDAQ-listed stocks. For more information about NASDAQ, visit the NASDAQ website at http://www.nasdaq.com or the NASDAQ Newsroom http://www.nasdaq.com/newsroom .
Forward-Looking Statements
This press release contains certain "forward-looking statements" that involve a number of risks and uncertainties. There can be no assurance that such statements will prove to be accurate and the actual results and future events could differ materially from management's current expectations. Such factors include, but are not limited to, the Company's ability to obtain the necessary financing to continue and expand operations, to market its products in new markets and to offer products at competitive pricing, to attract and retain management, and to integrate and maintain technical information and management information systems, political and economic factors in the People's Republic of China, compliance requirement of laws and regulations of the PRC, the effects of currency policies and fluctuations, general economic conditions and other factors detailed from time to time in the Company's filings with the United States Securities and Exchange Commission and other regulatory authorities. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
For more information, please contact: COMPANY SkyPeople Fruit Juice, Inc. Ms. Spring Liu, CFO Tel: +1-818-390-1272 Email: [email protected] Web: http://www.skypeoplefruitjuice.com INVESTOR RELATIONS John Mattio HC International, Inc. Tel: US +1-203-616-5144 Email: [email protected] Web: http://www.hcinternational.net
SOURCE SkyPeople Fruit Juice, Inc.
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