Shineco, Inc. Enters into Hemp Fiber Preliminary Processing Sales Framework Contract with Shanxi Oasis Textile Co., Ltd.
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, Dec. 04, 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 the Company, through its subsidiary Shineco China Hemp Technology Co., Ltd.(“SCHT”), has entered into a 500,000 mu (approximately 82,348 acres) hemp fiber preliminary processing sales framework contract (the “Contract”) with Shanxi Oasis Textile Co., Ltd.(“Oasis”), one of the largest enterprises in China that produces textiles of hemp [and is the National Textile Industry Hemp Product Development Base. SCHT is a biotechnology enterprise focusing on industrial hemp comprehensive utilization with RMB200 million registered capital. The Company holds 60% of the shares of SCHT and is the controlling shareholder of SCHT. SCHT is located in the Jinzhong Development Zone of Shanxi's Transitio
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