SkyPeople Fruit Juice, Inc. (NASDAQ:SPU) Files An 8-K Entry into a Material Definitive Agreement
Item 1.01
| Entry into a Material Definitive Agreement. |
On March 20, 2017, Hedetang Foods (China) Co. Ltd. (Hedetang
Foods (China)) and Hedetang Farm Products Trading Market (Mei
County) Co. Ltd. (Trading Market Mei County), two wholly-owned
subsidiaries of SkyPeople Fruit Juice, Inc. (the Company),
entered into a Cooperation Framework Agreement of the Spot
Trading Company (the Agreement) with Xian Taizhan Financial
Management Co., Ltd. (Taizhan).
to the Agreement, Hedetang Foods (China), Trading Market Mei
County and Taizhan will jointly establish a new company currently
named as China Agricultural Commodity Trading Market Co., Ltd.
(China Agricultural Commodity Trading Center) in Mei County,
Shaanxi Province, China. The total registered capital for China
Agricultural Commodity Trading Center will be RMB 50 million
(approximately $7.35 million). Hedetang Foods (China) agreed to
contribute RMB 17.50 million (approximately $2.57 million),
Trading Market Mei County agreed to contribute RMB 15 million
(approximately $2.21 million) and Taizhan agreed to contribute
RMB 17.50 million (approximately $2.57 million) in capital
contributions to China Agricultural Commodity Trading Center. All
capital contributions to China Agricultural Commodity Trading
Center shall be completed before March 20, 2037. Each shareholder
of China Agricultural Commodity Trading Center shall be able to
enjoy the profits and assume the losses of China Agricultural
Commodity Trading Center based upon the percentages of their
respective capital contributions.
The foregoing description of the Agreement does not purport to be
complete and is subject to and qualified in its entirety by
reference to the full text of the Agreement, a copy of which is
attached hereto as Exhibit 10.1 and incorporated by reference
herein.
| Item 9.01 | Financial Statements and Exhibits |
(d) The following exhibits are filed with this report.
| Exhibits Number | Description | |
| 10.1 |
Cooperation Framework Agreement Spot Trading Company, dated March 20, 2017, by and among Hedetang Foods (China) Co. Ltd., Hedetang Farm Products Trading Market (Mei County) Co. Ltd., and Xian Taizhan Financial Management Co., Ltd. |
About SkyPeople Fruit Juice, Inc. (NASDAQ:SPU)
SkyPeople Fruit Juice, Inc. is a holding company. The Company is engaged in the production and sale of fruit juice concentrates, including fruit purees, concentrated fruit purees and concentrated fruit juices; fruit beverages, including fruit juice beverages and fruit cider beverages, and other fruit-related products, including primarily organic and non-organic fresh fruits, dried fruit, preserved fruit, fructose in and from the People’s Republic of China (PRC). The Company operates through six segments: concentrated apple juice and apple aroma, concentrated kiwifruit juice and kiwifruit puree, concentrated pear juice, fruit juice beverages, fresh fruits and vegetables, and others. Its concentrated apple juice and apple aroma is primarily produced by the Company’s Huludao Wonder factory; concentrated pear juice is primarily produced by the Company’s Jiangyang factory. Its other products include fructose, concentrated turnjujube juice, and other by products, such as kiwifruit seeds. SkyPeople Fruit Juice, Inc. (NASDAQ:SPU) Recent Trading Information
SkyPeople Fruit Juice, Inc. (NASDAQ:SPU) closed its last trading session down -0.24 at 5.67 with 5,492 shares trading hands.