Item
5.02
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Departure
of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain
Officers.
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On
September 2, 2016, Yongke Xue, the Chief Executive Officer and Chairman of the Board of Directors of SkyPeople Fruit Juice, Inc.
(the “Company”), resigned from his position as the Chief Executive Officer of the Company and Chairman of the Board
of the Directors of the Company (the “Board”). Yongke Xue will remain as a director of the Board. Yongke Xue’s
decision to resign was not a result of any disagreement with the Company, the Board or its management on any matter relating to
the Company's operations, policies or practices.
On
September 2, 2016, the Board appointed Hongke Xue, a current board member of the Company, to serve as the Chief Executive Officer
of the Company and Chairman of the Board, effective immediately, to fill the vacancy created by the resignation of Mr. Yongke
Xue.
Mr. Hongke Xue, age 44, is a brother of Mr. Yongke Xue, and has served as our Chief Executive Officer from February
18, 2013 to December 24, 2014. Mr. Hongke Xue also serves as the Chairman of the Board of Directors and the Chief Executive Officer
of SkyPeople Juice Group Co., Ltd., (“SkyPeople China”) since 2003. Prior to that, Mr. Hongke Xue served as the Chief
Executive Officer of Tangshan Fengyuan Metal Products, a sino-foreign joint venture, from March 2002 to March 2003. Prior to that,
he served as the general manager of Baoji Industrial Products Co., Ltd., a wholly foreign owned enterprise, from April 2001 to
March 2002, and deputy general manager of Shaanxi DePu Industry and Trade Co., Ltd. from October 1997 to April 2001.
Mr.
Hongke Xue received a bachelor degree in business management from Lanzhou University of Finance and Economics in July 1995.
As disclosed in our Form 8-K filed with SEC
on October 16, 2015, Mr. Yongke Xue and Mr. Hongke Xue, indirectly and beneficially own 80.0% and 9.4%, respectively, of the equity
of SkyPeople International Holdings Group Limited (the “Buyer”) and the Buyer entered into a Share Purchase Agreement
(the “Agreement”) with the Company on October 16, 2015.
Pursuant to the Agreement, the Company issued and sold to the
Buyer, and the Buyer purchased from the Company 5,321,600 shares of common stock (the "Shares") of the Company (the
"Transaction"). The purchase price for the Shares is $1.50 per share (the "Purchase Price"). The total purchase
price of the Shares was $7,982,400 and was paid by cancellation of the loan from the Buyer to SkyPeople China, an indirectly owned
subsidiary of the Company under a loan agreement dated on February 18, 2013, disclosed in the Form 8-K filed with SEC on February
19, 2013 and renewed on February 18, 2014 in its principal amount. The details of the Agreement and Transaction were disclosed
in the Form 8-K filed with SEC on October 16, 2015.