SkyPeople Announces Change of Independent Auditors

XI'AN, China, Sept. 23, 2016 /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 on September 19, 2016, the Company received a letter from Wei Wei & Co., LLP ("Wei Wei") stating that it would cease its services as the independent registered public accounting firm of the Company, effective from September 19, 2016. 

The Company engaged Wei Wei during the period from April 12, 2016 to September 19, 2016 (the "Engagement Period").  During the Engagement Period, Wei Wei did not issue any reports on the Company's consolidated financial statements.

During the Engagement Period, there were (1) no disagreements between the Company and Wei Wei on matters of accounting principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of Wei Wei, would have caused Wei Wei to make reference to the subject matter of the disagreement in its report on the consolidated financial statements, and (2) no "reportable events" as that term is defined in Item 304(a)(1)(v) of Regulation S-K.  Wei Wei issued no audit reports on the Company's consolidated financial statements.

On September 22, 2016, the Audit Committee of the Board of Directors of the Company (the "Audit Committee") approved the engagement of Jia Roger Qian Wang, CPA ("Roger Wang") as the Company's independent registered public accounting firm, effectively immediately. The Audit Committee also approved Roger Wang to act as the Company's independent registered public accounting firm for the fiscal years ending December 31, 2015 and 2016.

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, 2014 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. 

For more information, please contact:

COMPANY
Cindy Liu, Investor Relations Manager
SkyPeople Fruit Juice, Inc.
Tel:   China + 86 - 29-8837-7161 
Email: [email protected]
Web: http://www.skypeoplefruitjuice.com      

SOURCE SkyPeople Fruit Juice, Inc.

Related Links

http://www.skypeoplefruitjuice.com