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): December 13, 2017 (December 11, 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 December 13, 2017, Shineco, Inc. (the “Company”) issued a press release announcing that the Company, through its subsidiary Tianjin Tajit E-Commerce Ltd, has entered into a RMB 8 million supply contract dated December 11, 2017 (the “Contract”) with Huangpu International Limited (“Huangpu”), a community e-commerce company in China. Pursuant to the Contract, Huangpu is expected to purchase RMB 8 million (approximately 1.2 Million USD) worth of products from Shineco and is expected to distribute Shineco’s products through its e-commence platform at www.xiaohongshu.com. Shineco will provide Huangpu with necessary assistance during the distributing process.
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 |
| (c) | Exhibits |
| Exhibit Number |
Description | |
| 99.1 | Press Release dated December 13, 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: December 13, 2017
Exhibit 99.1
Shineco, Inc. Announces RMB 8 Million Contract with Huangpu International Limited
BEIJING, December 13, 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, through its subsidiary Tianjin Tajit E-Commerce Ltd, has signed a RMB 8 million supply contract dated December 11, 2017 (the “Contract”) with Huangpu International Limited (“Huangpu”), a community e-commerce company in China.
Huangpu International Limited operates its own community e-commerce platform, Xiaohongshu , at www.xiaohongshu.com and designed to enable younger generations to purchase desirable products all around the world through the Internet.
Pursuant to the Contract, Huangpu is expected to purchase RMB 8 million (approximately 1.2 Million USD) worth of products from Shineco and is expected to distribute Shineco’s products through its e-commence platform at www.xiaohongshu.com. Shineco will provide Huangpu with necessary assistance during the distributing process.
Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco, stated, “We are proud to have a close working relationship with Huangpu International Limited, one of the most popular community e-commerce platforms in China. This contract is an additional piece of good news for Shineco as it expands our products’ sales channels. In addition, the platform, Xiaohuanghsu, allows users to share their own buying experiences, which will encourage more and more people to appreciate the uniqueness of our 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.
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