SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
Date of report (date of earliest event reported): May 2, 2017
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) | (IRS Employer Identification No.) |
2nd Floor, Wanyuan Business Center
10 N Hongda Road
Daxing District, Beijing
People’s Republic of China
(Address of principal executive offices)
Registrant’s telephone number, including area code: (+86) 10-87227366
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:
| ¨ | Written communications 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 communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications 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 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 þ
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 8.01 OTHER EVENTS
On June 9, 2017, Shineco, Inc. (the “Registrant”) issued a press release announcing that the Registrant and its subsidiary, Xinjiang Tiankunrunze Biological Engineering Co., Ltd., have entered into a Strategic Cooperation Agreement with Beijing Zhongke Biorefinery Engineering Technology Co., Ltd., a high-tech biomass refining company, to establish the Institute of Chinese Apocynum Industrial Technology Research (ICAITR). A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
| (d) | Exhibits. |
| 99.1 | Press Release dated June 9, 2017. |
SIGNATURE
Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| SHINECO, INC. | |||
| By: | /s/ Yuying Zhang | ||
| Name: | Yuying Zhang | ||
| Its: | Chief Executive Officer | ||
Dated: June 9, 2017
Exhibit 99.1
Shineco, Inc. Enters into Strategic Cooperation Agreement to Establish the Institute of Chinese Apocynum Industrial Technology Research
BEIJING, China, June 9, 2017/ PRNewswire/ -- Shineco, Inc. (“Shineco” or the “Company”), a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and other health and well-being focused plant-based products in China, today announced that the Company and its subsidiary Xinjiang Tiankunrunze Biological Engineering Co., Ltd. (“Tiankunrunze”) have entered into a Strategic Cooperation Agreement with Beijing Zhongke Biorefinery Engineering Technology Co., Ltd. (“Biorefinery”), a leading high-tech biomass refining company financially backed by the Chinese Academy of Sciences Institute of Process Engineering, to establish the Institute of Chinese Apocynum Industrial Technology Research (“ICAITR”).
Pursuant to the Strategic Cooperation Agreement entered into on May 2, 2017 among the three parties, Tiankunrunze, Shineco and Biorefinery agreed to establish the ICAITR and each will own 45%, 35% and 20% of the equity interests of ICAITR, respectively. Shineco and Tiankunrunze will invest five million RMB as the registered capital, and Biorefinery will contribute technical investment such as the patent for “Steam Explosion Degumming” as well as other resources.
As a leader in China’s Apocynum industry, Shineco will join hands with Biorefinery and Tiankunrunze to establish the ICAITR in order to launch a public service platform for the domestic Apocynum industry. ICAITR will work as a technology incubation base to transform technology into end-products, such as Apocynum tea, cosmetics and eco-friendly building boards, etc. Shineco expects it will make efforts to increase Shineco’s technology innovation, to achieve sustainable development of the Apocynum industry and help more enterprises utilize and industrialize advanced Apocynum processing technologies. Once the technology incubation is successful, Shineco believes that ICAITR will play a significant role in economic development and technology diffusion, and bring significant economic benefits to Shineco.
Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco, stated "The Institute of Chinese Apocynum Industrial Technology Research offers a unique and important opportunity for us to develop new refining technology for the Apocynum industry. Together with our strategic partners, we are looking forward to accelerating our product development and manufacturing technology innovation with the core technology of Steam Explosion Degumming. Through the collaborative efforts of the Biorefinery, we expect the utilization of advanced scientific research, human resources and collective data will transform research results into successful products.”
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.
About Beijing Zhongke Biorefinery Engineering Technology Co., Ltd.
Beijing Zhongke Biorefinery Engineering Technology Co., Ltd.(“Biorefinery”) is a high-tech biomass refining company that provides services in areas of sample preparation, samples analysis and testing, technical advisory, technology development test, technology patents transfer and engineering design. With the advantages of technology development and engineering design in the field of biomass resource utilization, Biorefinery serves for the biomass refining process and upgrading the level of China's biomass industry. For more information about the Company, please visit www.zkbrn.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