SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
October 17, 2005
Date of Report (Date of earliest event reported)
SOYO GROUP, INC.
(Exact name of registrant as specified in its charter)
Nevada 333-42036 95-4502724
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
1420 South Vintage Avenue
Ontario, California 91761-3646
(Address of principal executive offices, including zip code)
(909) 292-2500
(Registrant's telephone number, including area code)
N/A
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(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
[_] Written communications pursuant to Rule 425 under the Securities Act
[_] Soliciting material pursuant to Rule 14a-12 under the Exchange Act
[_] Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act
[_] Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act
Item 5.02 Appointment of Independent Directors
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SOYO Group Inc. today announced the appointment of four additional independent
directors to its board of directors. The appointees are Paul F. Risberg, Chung
Chin Keung, Zhi Yang Wu and Daniel Hou. SOYO now has a total of six directors on
its board. Chung Chin Keung was appointed as the independent non-executive
director and audit committee member. Mr. Chung has more than 14 years commercial
experience, including more than 10 years in accounting and finance for publicly
listed companies in various countries. Mr. Chung is currently the chief finance
officer of KPI Co. Ltd. (0605, Hong Kong Stock Exchange), a listed company in
Hong Kong. Mr. Chung holds a Master of Business Administration from the
University of Manchester, England.
Paul F. Risberg was appointed as the independent non-executive director and
audit committee member. Mr. Risberg has more than 13 years of investment banking
and securities market expertise. He is currently the president of Altenergy
Inc., an alternative energy service company that retails and installs energy
equipment, and serves as a board director of China Energy Savings Technology
Inc. (NASDAQ: CESV - News), a leading provider of energy-saving products and
solutions in China. From 1998 until 2002, Mr. Risberg served as divisional vice
president of Fahnestock & Co. Inc. (now known as Oppenheimer & Co.), one of the
oldest New York Stock Exchange firms.
Zhi Yang Wu was appointed as the independent non-executive director and
compensation committee member. Mr. Wu is the vice chairman of Qiao Xing
Universal Telephone Inc. (Nasdaq: XING - News), one of China's largest
manufacturers and distributors of telecommunication products. Mr. Wu currently
also serves as chairman & CEO of CEC Telecom, one of the largest mobile phone
manufacturers in China and a subsidiary of Qiao Xing. Mr. Wu currently oversees
CEC Telecom with annual sales in excess of $200 million. Mr. Wu received a
Diploma in Business Management from Huizhou University of China, and has
completed graduate studies in business management at Beijing University.
Daniel Hou was appointed as the independent non-executive director and audit
compensation member. Mr. Hou has served as the president of Reyes Electronics
Inc., a computer peripheral supplier he founded in 1986. Mr. Hou received a B.A.
degree in chemistry from National Chung-Hsing University, Taiwan, in 1973 and a
master's degree in material science from the University of Utah in 1978.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SOYO GROUP, INC.
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(Registrant)
Date: October 27, 2005 By: /s/ NANCY CHU
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Nancy Chu, CFO