Shineco, Inc. Announces Entry into Strategic Cooperation Agreement for Acquisition of a Leading Chinese Agriculture Technology Company of Industrial Hemp
Shineco, Inc. (TYHT)
US:NASDAQ Investor Relations:
prnewswire.com/news-releases/shineco-inc-retains-ascent-investor-relations-llc-300455575.html
Company Research
Source: GlobeNewswire
BEIJING, Aug. 01, 2019 (GLOBE NEWSWIRE) -- Shineco, Inc. ("Shineco" or the "Company"; NASDAQ: TYHT), a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and various health and well-being focused plant-based products in China, announced today that it entered into a strategic cooperation (the “Agreement”) with Shanxi Hongtian Jiali Agricultural Technology Co., Ltd. (“Hongtian Jiali”) on July 29, 2019. Hongtian Jiali is a leading industrial hemp agriculture technology company in Shanxi province of China. Hongtian Jiali, located in Jinzhong City of Shanxi province, processes and sells industrial hemp oil, industrial hemp protein powder, industrial hemp oligopeptides and other products. Hongtian Jiali has been granted 4 patents for industrial hemp processing by the State Intellectual Property Office. Pursuant to the Agreement, the Company plans to acquire 51% of Hongtian Jiali to establish an industrial hemp park in Shanxi provinc
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