Mr. Xinduo Yu

February 13, 2014 16:38 ET

Concerned Shareholder Xinduo Yu Files Application to Hold Hanfeng Evergreen Annual and Special Meeting Without Delay

TORONTO, ONTARIO--(Marketwired - Feb. 13, 2014) - Xinduo Yu, the founder, largest shareholder, a director and former President and Chief Executive Officer of Hanfeng Evergreen Inc. (Hanfeng or the Company) announced today that he has filed an application with the Ontario Superior Court of Justice (Commercial List) seeking directions with respect to the holding and conduct of the upcoming annual and special meeting called for February 28, 2014.

"Shareholders are disappointed by the delays sought by the current board during this critical period in Hanfeng's history," said Mr. Yu, "Regardless of who is elected at the next shareholders' meeting, shareholders should have the right to elect the directors of their choosing."

The timeline for the hearing of the application is expected to be established at a preliminary Court appearance scheduled for February 14, 2014.

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