Shineco, Inc. Awarded Certificate from Trade & Association (Singapore) to Jointly Establish Industry Hemp Comprehensive Utili...
December 12 2019 - 9:00AM
Shineco, Inc. ("Shineco" or the "Company"; NASDAQ: TYHT), a
producer and distributor of Chinese herbal medicines, organic
agricultural produce, hemp products, and various health and
well-being focused plant-based products in China, announced
today that the Company, through its subsidiary Shineco China Hemp
Technology Co., Ltd. (“SCHT”), has award an certificate (the
“Certificate”) from Trade & Association (Singapore) (“TIAS”) on
November 29, 2019 to jointly establish industry hemp comprehensive
utilization park (the “Park”) in China. The Certificate is
effective for 3 years.
TIAS establishes an industry hemp development
committee (the "Committee") in China. The board of the Committee
appointed Mr. Baolin Li, the Company’s Vice Chairman, as the
Chairman of the board of the Committee and appointed Mr. Guocong
Zhou, Vice Chairman of the Board of SCHT, as Secretary and Vice
Chairman of the board of the Committee. TIAS authorizes the
Committee to work with SCHT to take in charge of overall planning,
investment, park management, capital raising, and business
development of international trade cooperation to accelerate the
construction of the Park.
Mr. Yuying Zhang, Chairman and Chief Executive
Officer of Shineco, commented, “The cooperation with the TIAS to
jointly establish the Park is a key milestone of Shineco's business
strategy of the entering global hemp market and completing the
entire industry hemp chain. Singapore is an international financial
and trade centers with open policy, good investment environment and
mature industry park construction and management capability. This
cooperation is very important for the Park’s planning and
construction, ecosystem optimization, operation service system
upgrade, and the high-quality industry hemp chain development.”
About Shineco, Inc.
Incorporated in Delaware in August
1997 and headquartered in Beijing, China, Shineco is
a holding company. Through its subsidiaries and variable
interest entities, Shineco undertakes vertically- and
horizontally-integrated production, distribution, and sales
channels to provide health and well-being focused plant-based
products in China. Utilizing modern engineering technologies
and biotechnologies, Shineco produces, among other products,
Chinese herbal medicines, organic agricultural produce, and
specialized textiles. For more information about Shineco, please
visit http://tianyiluobuma.com.
Forward-Looking Statements
This press release contains information about
Shineco's view of its future expectations, plans and prospects that
constitute forward-looking statements. Actual results may differ
materially from historical results or those indicated by these
forward-looking statements as a result of a variety of factors
including, but not limited to, risks and uncertainties associated
with its ability to raise additional funding, its ability to
maintain and grow its business, variability of operating results,
its ability to maintain and enhance its brand, its development and
introduction of new products and services, the successful
integration of acquired companies, technologies and assets into its
portfolio of products and services, marketing and other business
development initiatives, competition in the industry, general
government regulation, economic conditions, dependence on key
personnel, the ability to attract, hire and retain personnel who
possess the technical skills and experience necessary to meet the
requirements of its clients, and its ability to protect its
intellectual property. Shineco encourages you to review other
factors that may affect its future results in Shineco's
registration statement and in its other filings with the Securities
and Exchange Commission.
For more information, please contact:
Tina Xiao Ascent Investor Relations LLC Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com
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