UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

 

FORM 8-K

 

 

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of Report: April 23, 2019

(April 22, 2019)

 

 

 

SHINECO, INC.

(Exact name of registrant as specified in its charter)

 

 

 

Delaware   001- 37776   52-2175898

(State or Other Jurisdiction

of Incorporation)

 

(Commission

File Number)

 

(I.R.S. Employer

Identification No.)

 

Room 1001, Building T5,

DaZu Square, Daxing District,

Beijing, People’s Republic of China

(Address of principal executive offices, including zip code)

 

(+86) 10-87227366

(Registrant’s telephone number, including area code)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
  
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
  
Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
  
Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

 

 

 

Item 7.01.Regulation FD Disclosure

 

On April 22, 2019, Shineco, Inc. issued a press release titled “Shineco, Inc. Enters into Strategic Cooperation Frame Agreement with Shenzhen Datong Industrial Co., Ltd”. A copy of such press release is furnished herewith as Exhibit 99.1.

 

The information in this Current Report on Form 8-K under Item 7.01, including the accompanying press release, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by reference to such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit Number   Description
     
99.1   Press Release dated April 22, 2019.

 

1

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

  SHINECO, INC.
Date: April 23, 2019  
  By: /s/ Yuying Zhang
  Name:  Yuying Zhang
  Title: Chief Executive Officer

 

 

2

 

Exhibit 99.1

 

Shineco, Inc. Enters into Strategic Cooperation Frame Agreement with Shenzhen Datong Industrial Co., Ltd

 

BEIJING, April 22, 2019 — 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 wholly owned subsidiary Tenjove NewHemp Biotech Co., Ltd. (“TNB”), entered into a strategic cooperation framework agreement (the “Agreement”) with Shenzhen Datong Industrial Co., Ltd. (also referred to as Shenzhen Capstone Industrial Co., Ltd. or “Datong”) on April 18, 2019 to establish a new joint venture Datong NewHemp LLP.

 

Datong is a Chinese public company listed on the Shenzhen Stock Exchange (SZ: 000038). Datong has extensive technology and experience in the research, development and application of blockchain technology. Among other accomplishments, Datong jointly established a blockchain technology application innovation and information security laboratory with the Beijing University of Posts and Telecommunications. Currently, Datong’s blockchain technology, “Datong Chain,” has been implemented for use with positive results. Datong has submitted several patents for blockchain technology to the National Patent Office.

 

Pursuant to the Framework Agreement, both parties agree to invest up to RMB 1 billion for Datong NewHemp LLP. The two parties plan to establish separate subsidiaries or designate existing subsidiaries as general partners of the partnership. The core strategy of Datong NewHemp LLP includes the integration and expansion of the industrial hemp industry chain, the development of CBD products and domestic and overseas sales, and the exploration of combinations of blockchain and industrial hemp business scenarios to achieve synergy and value maximization.

 

Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco, commented, “This advantageous plan for cooperation marks another important milestone for NewHemp in the industrial hemp field, laying a solid foundation for further deepening the industrial hemp industry and accelerating the integration of the entire industry chain. We hope that our long-term experience applying advanced scientific techniques to agricultural production can be combine with Datong’s leading blockchain technology to shape the future of the industrial hemp, CBD, and related industries.”

 

About Shineco

 

Incorporated in Delaware in August 1997 and headquartered in Beijing, China, Shinecois a holding company, through its subsidiaries and variable interest entities, 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 the Company, please visit www.tenetjove.com.

 

About Datong

 

Founded in 1987 and headquartered in Shenzhen, China, Datong provides a comprehensive offering of Internet and outdoor advertising services in China: content and marketing services, media placement, media operations, mobile e-commerce, data analysis, effect evaluation services, and mobile advertising integrated marketing services. Datong is committed to developing a network integrating new media communication, financial services, big data services, digital entertainment, and the Internet of Things. For more information about Datong, please visit http://www.chinadatong.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