Mr. Xinduo Yu

February 10, 2014 07:00 ET

Hanfeng Evergreen Concerned Shareholder Xinduo Yu Responds to Proposed Meeting Deferral

TORONTO, ONTARIO--(Marketwired - Feb. 10, 2014) - Mr. Xinduo Yu, the founder, largest shareholder, director and former President and Chief Executive Officer of Hanfeng Evergreen Inc. ("Hanfeng" or "the Company"), responded today to a press release issued by the Company on February 7, 2014.

The press release proposed to defer the annual general and special meeting from its scheduled date of February 28, 2014 to June 13, 2014, subject to regulatory approval. Mr. Yu is concerned about the proposed deferral at this critical juncture, as it will delay allowing shareholders the opportunity to determine the future of the Company. In addition, TSX requirements stipulate that the meeting should have taken place before December 31, 2013.

Mr. Yu is evaluating all options available to him in responding to the proposed deferral of the meeting and will continue to update the market as appropriate.

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