XI'AN, China, June 10 /PRNewswire-Asia-FirstCall/ -- SkyPeople Fruit Juice, Inc. (Nasdaq: SPU) ("SkyPeople" or the "Company"), a manufacturer of kiwifruit, apple, pear and other concentrated specialty fruit juices and manufacturer of Hedetang branded fruit beverages, today announced that it engaged Ernst & Young (China) Advisory Limited ("Ernst & Young") to help assure that the Company complies with the financial reporting and control requirements of Sarbanes-Oxley Act Section 404 ("SOX 404").
As part of compliance with SOX 404, SkyPeople will report on the adequacy of its internal financial reporting and control systems after documenting and evaluating its procedures. Ernst & Young will work closely with SkyPeople's management to help prepare a SOX 404 compliance program by sharing its knowledge about how other firms comply with SOX 404 requirements, and recommend changes or improvements. SkyPeople's SOX 404 compliance program will also address how management's decision making is linked to financial reporting risks.
"Initiating SOX compliance for our internal reporting and control procedures will be a welcome review of our Company's operations and risk management," stated Chairman Yongke Xue. "We are sure that our SOX 404 compliance work with Ernst & Young will contribute to our performance, create greater transparency for our investors and help clearly address business decisions and risk as they arise during these high growth years for our Company."
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 engaged in the production and sales of fruit juice concentrates (including fruit purees, fruit puree concentrates, and clear fruit juice concentrates), fruit beverages (including fruit juice beverages and fruit cider beverages), and other fruit related products (including primarily organic and non-organic fresh fruits, kiwifruit seeds and apple aroma) in and from the PRC. 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 brand, Hedetang(TM), which is a registered trademark in the PRC, is positioned as a high quality, healthy and nutritious end-use juice beverage. For more information, please visit http://www.skypeoplefruitjuice.com .
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.