SHINECO, INC. (NASDAQ:TYHT) Files An 8-K Other EventsITEM 8.01 OTHER EVENTS
On July 9, 2018, Shineco, Inc. (the “Company”) issued a press release announcing that the Company has entered into an Equity Investment Letter of Intent (“LOI”) with Hash Bank to which the Company plans to acquire a 5% ownership stake in Hash Bank for a purchase price of RMB 10 million (approximately US$1.5 million). A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
|99.1||Press Releasedated July 9, 2018.|
SHINECO, INC. ExhibitEX-99.1 2 f8k070918ex99-1_shinecoinc.htm PRESS RELEASE DATED JULY 9,…To view the full exhibit click
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.