Shineco, Inc. is principally engaged in the production and distribution of Chinese herbal medicines, organic agricultural produce, specialized textiles, and other health and well-being focused plant-based products in China. We utilize modern engineering technologies and biotechnologies to increase control over the production cycle and to monetize our research.
Since our founding in 1997, Shineco's has been committed to processing traditional agricultural products into more highly value-added products. We focus on research and development, planting and cultivation, medicinal extraction and the entire industry chain control to ensure that we can provide excellent products under more quickly and cost-effectively methods.
We produce our products in our factories in mainland China, including traditional Chinese herbal medicine products, organic agricultural products and specialized fabrics, textiles and other byproducts derived from an indigenous Chinese plant Apocynum Venetum, grown in the Xinjiang region of China, and known in Chinese as “Luobuma” or “bluish dogbane”. To facilitate the distribution of our traditional Chinese medicinal products and Western medicines, we operate 13 pharmacies and cooperate with other 66 pharmacies in China. We also sell pieces on the Anhui Bozhou Chinese medicine transaction market, to medical materials company, such as Qianhe Pharmaceutical Industry Co., and to Chinese patent medicine factories, such as Wanxi Pharmaceutical Factory. Our Luobuma product distribution networks consists of four distributors with a total of 21 outlets, including flagship stores, retail stores and sales counters. We also sell our Luobuma textile products online through third party e-commerce websites, such as Taobao, Tmall and 360buy. Our yew trees and agricultural products are primarily sold through our sales personnel and group and institutional sales.
Shineco’s core technology and its derivative applications for the Luobuma business are covered by the Company’s nine patents filed in China. Presently we hold one patent in in the People’s Republic of China for Luobuma fiber yarn preparation and an application method(patent number: 201110429362.9), which has been suspended due to unintentional late payment of annual dues as of the date of this filing. We’re also working with the state Intellectual Property Office of the PRC to reinstate eight other patents. The company has 389 employees.