XI'AN, China, June 9, 2017
/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 it has changed its corporate name to
Future FinTech Group Inc. The corporate name change reflects the
Company's deeper e-commerce commitment that will drive the future
of its agricultural value chain through financial technology
solutions.
"Our corporate name change to Future FinTech Group Inc. more
accurately reflects the Company's new business strategy and our
future development plans," commented Hongke Xue, Chief Executive
Officer of Future FinTech Group
Inc. "We have broadened our corporate strategy with our
recent business development and our new name represents a
rebranding due to our evolving business identity and culture."
"We are very excited to be developing an innovative
multi-purposed platform for our existing operating businesses as
well as technology-driven synergies with our new business
development to create an integrated value chain to uncover
far-reaching opportunities for growth and profitability. We believe
that our new corporate name, Future FinTech Group Inc., allows us
to better represent our business to our customers and all of our
stakeholders as it represents our new focus and capabilities,"
added Mr. Xue.
The corporate name change was approved by the Company's Board of
Directors on March 30, 2017 and by
shareholders holding a majority of the Company's issued and
outstanding capital stock on March
31, 2017. On June 6,
2017, the Company filed a Certificate of Amendment (the
"Certificate") with the Secretary of State for the State of Florida to amend and restate its
articles of incorporation to change its name from SkyPeople Fruit
Juice, Inc. to Future FinTech Group Inc., effective immediately. In
addition, also effective as of June 6,
2017, the Company's amended its
amended and restated bylaws to reflect the name change.
The Company anticipates that its common stock will cease trading
under the ticker symbol "SPU" and will begin trading under the
ticker symbol "FTFT" as of June 12,
2017. In connection with the name change, the Company's
common stock will continue to trade on the Nasdaq Exchange and has
been assigned a new CUSIP number of 36117V 105.
The Company has entered into several agreements, established a
new subsidiary and made an acquisition to reflect its new business
strategy:
On April 12, 2017, the Company
announced that its indirect holding company, Xi'an Hedetang
E-Commerce Co. Ltd., signed a one-year service agreement to market
its products on the open platform Xunqin Mall with Zhenzhen Weipin
Zhiyuan Information Technology Co., Ltd., one of whose shareholders
is China Continental Insurance. The Company believes that joining
Xunqin Mall will help generate regional sales for its Hedetang and
Hede Jiachuan products and improve operating
efficiencies.
On March 23, 2015, the Company
announced the establishment of China Agricultural Commodity Trading
Center ("CACTC"), a new company that has been formed to standardize
and digitize agricultural products based on e-finance technology
and market trading technology. CACTC will also develop an open
platform pricing mechanism utilizing a fair market auction process
to process market transactions. In addition, it is planned that
various financial products will be developed to transact medium to
long term commodities contracts of agricultural bulk products.
On March 17, 2017, the Company
announced the acquisition of Shaanxi Quangoutong E-commerce Inc.,
("Quangoutong") a peer-to-peer (P2P) company, in order to
effectively enter the FinTech sector. Quangoutong owns certain
permits and licenses from local governments in China to conduct certain on-line financial
service business in China.
On March 15, 2017, the Company
announced that it signed a one-year business agreement with the
Jiangsu Nongmuren Agricultural Products ("Nongmuren") e-commerce
platform. The Company believes that cooperation with
Nongmuren could attracts hundreds of thousands of registered users
on the platform each month, and accelerate an update of its
marketing channels.
On March 6, 2017, the Company
signed a one-year business agreement with China Aigo O2O Technology
Inc. (Beijing) and joined the
latter's Aigo Integrity Alliance, which is a smart
online-to-offline (O2O) platform and a unique marketing platform in
the mobile Internet arena.
The Company intends to become the FinTech leader in the
agriculture commodity industry in China by employing an innovative business
model that integrates all of its growing and operating businesses.
It is the Company's view that the performance of products sold
through e-commerce will experience an increase in revenue as this
platform has become a more efficient way to buy and sell
products.
"As our name change indicates, in addition to growing our
traditional businesses leveraging e-commerce and new technology
platforms, the Company's goal is to build a regional agricultural
products commodities trading market and to become a leader in
agricultural finance technology. Our new corporate name, Future
FinTech Group Inc., formalizes a shift in our corporate strategy
that is synergistic in terms of our new businesses and more
representative of our plans and goals," concluded Hongke Xue, Chief
Executive Officer of Future FinTech Group Inc.
About Future FinTech Group Inc.
Future FinTech Group 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, 2016 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
Future FinTech Group Inc.
Tel: China + 86 -
29-8837-7161
Email: skypeople_annie@163.com
Web: http://www.skypeoplefruitjuice.com
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SOURCE Future FinTech Group Inc.