BEIJING, December 29, 2017 /PRNewswire/ -- Shineco, Inc. ("Shineco" or the "Company"; NASDAQ: TYHT), a manufacturer and distributor of Chinese herbal medicines, organic agricultural products, specialized textiles, and other health and well-being focused plant-based products in China, today announced that the Company has established an expert task force to serve the Apocynum Industrial Park. The move by Shineco to send the expert task force to the Apocynum Industrial Park garnered positive attention from the local government and local community and was regarded by Xinjiang Korla government as a Belt and Road industry benchmark.
On the morning of December 27, 2017, the expert task force led by Shineco arrived at Apocynum Industrial Park in Xinjiang. The team, in addition to a number of executives sent by the Shineco headquarter, also included Dr. Lan Wang, a senior expert in "Steam Explosion Degumming" biological technology from the Chinese Academy of Sciences. Dr. Wang is expected to offer professional knowledge Questions & Answers on call for the Apocynum Industrial Park. The expert task force is expected to operate from the Apocynum Industrial Park in Xinjiang for several months and will make every effort to lay a solid foundation for the rapid development of Apocynum Industrial Park.
Mr. Fang Lv, the deputy general manager of the Company, said, “As we announced dated September this year, Shineco and its joint venture, Xinjiang Shineco Taihe Agriculture Technology Ltd. started to establish the Apocynum Industrial Park. At present, the Company regards the Apocynum Industrial Park establishment as the top priority for the strategic development of Shineco. Therefore, the headquarters also gives its most powerful support. As we can see, all the personnel in the expert task force are all top talents in related fields.”
Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco, stated, “We and the local government have reached a consensus on the construction and the development of Apocynum Industrial Park. We will maintain close cooperation and communication in the future with the local government. China's Apocynum industrialization development is the goal and mission of Shineco and we will spare no effort to carry it out through the Apocynum Industrial Park project.”
Mr. Yuying Zhang continued, “From the government approval to the frequent interaction between the local government and Shineco, it is not hard to understand that the highly-advanced industrialization project of Apocynum is in perfect harmony with the present "Belt and Road" policy and the development strategy of the local government, which will play a key role in the development of Shineco in the future.”
About Shineco, Inc.
Incorporated in August 1997 and headquartered in Beijing, China, Shineco, Inc. ("Shineco" or the "Company") is a Delaware holding company that uses its subsidiaries' and variable interest entities' 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.tianyiluobuma.com.
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.
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