The stock moved on news from the Company providing supplementary information regarding cash balances as of its 2011 fiscal year end.
According to the press release, "At a time when there is speculation as to the credibility of certain Chinese companies, SkyPeople investors can be reassured that our cash balances have been independently verified and that we employ of a high degree of financial integrity in terms of our financial management systems," said Mr. Yongke Xue, SkyPeople's CEO. "Investors can have confidence in the strength of our balance sheet that enables us to take advantage of the growth opportunities available to us in our sector."
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 99.78% ownership interest in SkyPeople Juice Group Co., Ltd. ("SkyPeople ( China)"). SkyPeople (China) is engaged in the production and sales of fruit juice concentrates, fruit beverages, and other fruit related products in the PRC and overseas markets. 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 brands, "Hedetang" and "SkyPeople", which are registered trademarks in the PRC, are positioned as high quality, healthy and nutritious end-use juice beverages. http://www.skypeoplefruitjuice.com
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