UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES AND EXCHANGE ACT OF 1934
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Item 1.01 Entry into a Material Definitive Agreement.
On July 9, 2024, Shineco, Inc.’s (the “Company”) subsidiary, Fuzhou Meida Health Management Co., Ltd. (“Fuzhou Meida”) entered into distribution agreements (the “Agreements”) with four distributors, Harbin Liaotongtang Chinese Medicine and Health Research Institute, Three Minutes (Zhejiang) Information Service Co., Hangzhou Misimao Science and Technology Co., Ltd., and Wu Qiang (each, the “Distributor”), respectively.
Pursuant to the Agreements, Harbin Liaotongtang Chinese Medicine and Health Research Institute, Three Minutes (Zhejiang) Information Service Co., Hangzhou Misimao Science and Technology Co., Ltd., and Wu Qiang agreed to distribute Fuzhou Meida’s water-soluble phospholipid concentrate health food beverage (the “Food Beverage”) with an annual projected goal of approximately $1,374,420, $1,209,490, $7,256,934 and $2,418,980, respectively, in sales on a “best-effort” basis, for a term of three years.
The price of the Food Beverage is set by the Company. Under the terms of the Agreements, the Distributors shall sell the Food Beverage in the directly-operated stores and franchises owned by such Distributors, and not through any other channels, including e-commerce platforms, without prior authorization from the Company.
The foregoing description of the Agreements does not purport to be complete and is qualified in its entirety by reference to the full text of the Form of the Agreements, a copy of which is filed herewith as Exhibit 10.1 and is incorporated by reference herein.
Item 8.01 Other Events.
On July 10, 2024, the Company issued a press release to announce the entry into the Agreements. The press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits
| Exhibit No. | Description | |
| 10.1 | Form of Distribution Agreement by and between Fuzhou Meida and the Distributor | |
| 99.1 | Press Release dated July 10, 2024 | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document and included as Exhibit 101). |
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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: July 11, 2024 | By: | /s/ Jennifer Zhan |
| Jennifer Zhan, Chief Executive Officer | ||
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