Yayi International Inc. (OTC Bulletin Board: YYIN) ("Yayi International" or "the Company"), the first mover and a leading producer and distributor of premium goat milk formula products for infants, toddlers, young children, and adults in the People's Republic of China ("China"), today announced CFO Veronica Chen's resignation.
Yayi's chief financial officer, Veronica Jing Chen, since February 2010, resigned effective April 13, 2012 due to personal reason. Ms. Chen's resignation was not in connection with any known disagreement with the Company on any matter. On an interim basis and in addition to her current duties, Yayi's Chairwoman and CEO, Ms. Li Liu, will act as the company's chief financial officer.
"We want to thank Veronica for her impressive contributions to Yayi's financial management over the past two years during critical and challenging times in the dairy industry," said Li Liu, Chairwoman and chief executive officer. "Looking ahead, I am confident we will find a qualified person to fill the role of CFO."
About Yayi International
Yayi International is the first mover and a leading producer and distributor of premium goat milk formula products for infants, toddlers, young children and adults in China. Its current formula product lines are targeted at the premium market segment and health-conscious consumers. The Company has a vertically-integrated production process. It sources raw goat milk from its proprietary dairy farms and neighboring goat dairy farmers on a long-term contract basis in milk collection centers, which ensures high quality control of its products. The Company's distribution network comprises of a nationwide footprint across China in 23 provinces and municipalities including domestic and multinational supermarkets, infant-maternity store chains, and drug stores as well as catalogue sales and a dedicated online store at Taobao.com.
Forward-looking Statements:
This press release contains certain statements that may include 'forward-looking statements'. All statements other than statements of historical fact included herein are 'forward-looking statements'. These forward looking statements are often identified by the use of forward-looking terminology such as 'believes,' 'expects' or similar expressions, involve known and unknown risks and uncertainties. Although the Company believes that the expectations reflected in these forward-looking statements are reasonable, they do involve assumptions, risks and uncertainties, and these expectations may prove to be incorrect. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (http://www.sec.gov). All forward-looking statements attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these factors. Other than as required under the securities laws, the Company does not assume a duty to update these forward-looking statements.
Contacts:
For Yayi International Inc.
Company Contact:
Ms. Li Liu,
+86-22-5859 8970
Chief Executive Officer
liu.li@milkgoat.com.cn
or
Investor
Relations Contact:
+86-22-2798 4233
IR@milkgoat.com.cn
