SHINECO, INC. (NASDAQ:TYHT) Files An 8-K Entry into a Material Definitive AgreementITEM 1.01 Material
On December 6, 2017, Shineco, Inc. ("Shineco" or the "Company"), a manufacturer and distributor of Chinese herbal medicines, organic agricultural products, specialized textiles, and other health and well-being focused plant-based products inChina, through its joint venture company, Xinjiang Shineco Taihe Agriculture Technology Ltd. ("Xinjiang Taihe"), has entered into a definitive Share Exchange and Acquisition Agreement (the “Agreement”) with Western Xinjiang Tiansheng Agricultural Development Co., Ltd ("Xinjiang Tiansheng"), a leading nursery and agricultural company with extensive industry experience in Xinjiang, China.
to the Agreement, Xinjiang Taihe will receive 51% equity ownership in Xinjiang Tiansheng for further investment in apocynum business expansion in Xinjiang, China, in exchange for a combination of 14% equity ownership in Xinjiang Taihe and cash payments in three separate installments (the “Acquisition Consideration”). The Acquisition Consideration in the aggregate is valued at RMB 23.8 million contingent upon certain milestones in the next years.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
(c) Exhibits
SHINECO, INC. ExhibitEX-10.1 2 tv481114_ex10-1.htm EXHIBIT 10.1 Exhibit 10.1 Share Exchange and Acquisition Agreement with Western Xinjiang Tiansheng Agricultural Development Co.,…To view the full exhibit click here
About SHINECO, INC. (NASDAQ:TYHT)
Shineco, Inc. is a holding company. The Company provides health and well-being focused plant-based products by using its subsidiaries’ and variable interest entities’ vertically- and horizontally-integrated production, distribution and sales channels. The Company operates through three segments: developing, manufacturing and distributing of specialized fabrics, textile products and other by-products derived from an indigenous Chinese plant called Apocynum Venetum, known as Bluish Dogbane (Luobuma); planting, processing and distributing of traditional Chinese medicinal herbal products, as well as other pharmaceutical products (Herbal products), and planting, processing and distributing of green and organic agricultural produce, as well as growing and cultivating of Chinese Yew trees (Agricultural products). It utilizes engineering technologies and biotechnologies to produce, among other products, Chinese herbal medicines, organic agricultural produce and specialized textiles.