SkyPeople to Establish Agricultural Commodity Trading Center

XI’AN, China, March 23, 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 on March 20, 2017, its wholly owned subsidiaries, Hedetang Foods (China) Co. Ltd. (“Hedetang China”) and Hedetang Farm Products Trading Market (Mei County) Co. Ltd., (“Hedetang Farm”) entered into an agreement with Xi’an Taizhan Financial Management Co., Ltd. (“Taizhan”) to jointly establish a new company currently named China Agricultural Commodity Trading Market Co., Ltd. (the “China Agricultural Commodity Trading Center”) in Mei County, Shaanxi Province, China. The trading center’s name is to be approved by China’s National General Administration for Industry and Commerce. “We estimate that the China Agricultural Commodity Trading Center could generate commodities trading volume of RMB 100 billion and revenue of RMB 100 million over the next three years,” commented Hongke Xue, Chief Executive Officer of SkyPeople. “Instead of a traditional trading model for agricultural products, our trading center will utilize an e-commerce business model which we envision will draw major commercial traffic and market share to the platform.” “To further enhance our new trading platform, we are also launching standardized financial contracts, long-term

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Source: CTRM Center

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