SPO Global Issues Letter to Shareholders

Rhea-AI Summary

SPO Global Inc. (OTC PINK:SPOM) has announced a strategic transformation focusing on its subsidiary, Shandong Fangyuan Huizhong Intelligent Equipment Co., Ltd. (SFHI). The company has divested its medical business due to significant challenges stemming from the Covid-19 pandemic, which led to a sharp decline in revenue. CEO Qiang Fang emphasized a commitment to enhance operations and development in agricultural machinery, particularly corn processing equipment. The company has filed several patent applications for new machinery, reflecting innovation and potential future growth. Shareholders are encouraged to stay updated via the company’s Twitter account.

Positive

• Focus on developing SFHI, indicating a shift towards more promising sectors.
• Successful development of corn grain processing equipment recognized by large enterprises.
• Innovation demonstrated through multiple filed patent applications for packaging machinery.

Negative

• Significant revenue decline in the medical business due to Covid-19 impacts.
• Use of fixed assets to offset arrears, indicating financial strain.

SHANGDONG, CHINA / ACCESSWIRE / April 3, 2023 / SPO Global Inc, (OTC PINK:SPOM) ("SPO Global Inc" or the "Company"), which operates Shandong Fangyuan Huizhong Intelligent Equipment Co., Ltd., today announced the following Open Letter to the Company's shareholders from Chief Executive Officer Qiang Fang.

To Our Valued Shareholders:

We would like to express our gratitude to all of our shareholders for your continued support of and patience with SPO Global Inc. We have started 2023 off by building a foundation for strategic transformation of our company and operations.

Divestiture of the Shandong Medical Business

As we had reported in our previous press release China experienced a significant slowdown and mass shutdowns over the past few years due to the impact of the Covid-19 pandemic. These challenging market conditions caused a significant fall-off in the Company's medical business. Consequently, the Company used its fixed assets to offset all arrears.

Focus on Shandong Fangyuan Huizhong Intelligent Equipment Co., Ltd

As a result of our corporate transformation, we are now devoting our full resources and energies to developing SFHI.

As the newly appointed CEO, I am deeply grateful and passionate about this unique market opportunity, and I am committed to lead and motivate our team to achieve resounding success in this sector.

In 2021, according to China domestic environment and the policy support for agriculture, a new technology team began to be established to produce and manufacture corn grain deep processing equipment. Once the equipment was successfully developed, it has received extensive attention from the market, and has also been recognized by domestic large-scale enterprises and the government, and signed a number of cooperation agreements.

In 2022, the joint technical team developed a steam generator to replace coal-fired boilers, which was widely praised by the industry, which has played an important role in environmental protection and also alleviated the troubles of environmental review in the industry.

I come from a strong background which includes starting off as a Sales Manager at Zhucheng Shuangchun Packaging Machinery Co., Ltd, where I was engaged in the food packaging machine industry and achieved excellent main sales performance within China's largest meat production and processing enterprises Jinluo, Shuanghui, and Delis. I moved on to be a Managing Director at Zhucheng, where in cooperation with R&D of colleges, we jointly developed a fully automatic stretch film packaging machine. After many tests, it was finally successful, breaking the position of German equipment in the domestic meat processing industry. I received a 26% share award from the original employing company (Zhucheng Shuangchun Packaging Machinery Co., Ltd.).

After several years of accumulation of sales experience and production experience, Shandong FangYuanhuizhong Intelligent Equipment Co., Ltd. was established in 2019, and in the same year, a medical paper-plastic packaging machine was developed, which was recognized and ordered by many listed medical enterprises in China. It provides a standardized reference and support for the development of packaging technology.

Recently, we have filed a Patent application for the following:

• Fully automatic continuous rolling vacuum packaging machine
• A fully automatic fresh corn peeling machine
• A transmission structure of a corn peeling machine
• A kind of packaging machine upper film into the film device
• A corn processing head and tail removal equipment

Stretch film structure of a packaging machine

I am excited for the future and hope to create long term value for our shareholders.

We encourage our shareholders to visit our corporate Twitter account for more updates: https://twitter.com/spo_global

About SPO Global Inc. (OTC PINK:SPOM): SPO Global Inc. recently signed a merger agreement with a leading food machinery company, Shandong Fangyuan Huizhong Intelligent Equipment Co., Ltd. (SFHI).

Company Disclaimers: As a Public Traded Company, within the guidelines of Federal and State Securities Law, SPO Global, Inc. may not avail itself of the Safe Harbor provisions as identified in the Private Securities Litigation Reform Act of 1995. However, SPO Global, Inc. provides the following disclaimer and warning to protect our shareholders, prospective investors and the public at large by alerting them to the risks and uncertainties involved with any investment, and the need to perform their own due diligence and assessment.

Forward-Looking Statements: This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission.

Company Contact:

Jeff Peng
liangjianpeng2018@gmail.com

SOURCE: SPO Global, Inc.

View source version on accesswire.com:
https://www.accesswire.com/746799/SPO-Global-Issues-Letter-to-Shareholders

FAQ

What is the recent update from SPO Global Inc. regarding the SPOM stock?

SPO Global Inc. has announced a strategic transformation focusing on its subsidiary SFHI and divesting its medical business.

Why did SPO Global Inc. divest its medical business?

The divestiture was due to significant revenue declines caused by the impact of the Covid-19 pandemic.

What new developments are happening at Shandong Fangyuan Huizhong Intelligent Equipment Co., Ltd.?

The company is focusing on agricultural machinery, including corn processing equipment, and has filed several patent applications.

How has SPO Global Inc. performed in early 2023?

SPO Global Inc. has committed to strategic transformation, focusing resources on SFHI after facing challenges in its medical business.

What patents has SPO Global Inc. filed recently?

SPO Global Inc. has filed patents for several new machines, including vacuum packaging and corn processing equipment.