Welcome to our dedicated page for Shineco news (Ticker: SISI), a resource for investors and traders seeking the latest updates and insights on Shineco stock.
Shineco, Inc. (NASDAQ: SISI) is a prominent player in the healthcare industry, focusing on developing and providing high-quality health products and services. Based in Bencroft Dassels Braughing, Ware, United Kingdom, Shineco aims to enhance the quality of life through safe and efficient health solutions. The company operates through its various subsidiaries, including Fuzhou Medashan Biotechnology Co., Ltd. and Kaifeng Yixi Biotechnology Co., Ltd.
Shineco has made significant strides in the realm of medical technology. To date, it has successfully researched and developed over 33 vitro diagnostic reagents and related medical devices. In addition to medical products, the company also produces and sells nutritious food, contributing to overall health and well-being.
One of the notable achievements of Shineco is the invention of a new natural, active water-soluble phospholipid product extracted from soybean gum. This innovation utilizes pure physical extraction technology, a breakthrough that overcomes many limitations of traditional chemical extraction methods. This method avoids using chemical solvents, thus preserving the natural structure and activity of phospholipids.
The new product boasts high hydrophilicity, activity, purity, and human absorption efficiency. This groundbreaking technology promises to deliver high-quality phospholipids for various applications, including medical, functional foods, and beauty products. The first batch of these products was put into production in April 2024 at the Kaifeng production base.
Shineco's commitment to innovation is evident in its aim to tackle global challenges related to cellular nutrition. By providing natural active phospholipids, the company addresses issues related to cell health and nutrition, which are foundational to overall health.
In line with its vision, Shineco aims to establish a core value chain focusing on drugs, functional foods, and beauty products. The company projects that annual sales revenue from these efforts will reach $1 billion within three years.
For more information, visit Shineco's website at www.biosisi.com.
Shineco announced a 1-for-24 reverse stock split effective November 12, 2024, primarily to maintain Nasdaq Capital Market listing compliance by meeting minimum average closing share price requirements. The company's common stock will continue trading under SISI but with a new CUSIP Number (824567507). Following the split, outstanding shares will be reduced to 1,613,898. The split affects all issued shares, stock options, and warrants, with fractional shares rounded up. No stockholder action is required, and positions will be automatically adjusted through brokers.
Future FinTech Group Inc. (NASDAQ: FTFT) has announced a significant leadership change. Hu Li has been appointed as the new Chief Executive Officer, President, and Board member, effective August 5, 2024. Li replaces Shanchun Huang, who resigned for personal reasons. With a background in financial services and corporate management, Li brings valuable experience to FTFT's strategic transformation.
Li has been with FTFT since 2019, serving as Corporate Secretary and CEO of a subsidiary. He holds an MBA and has experience in public companies. The Board Chairman, Foyou Li, expressed confidence in Hu Li's ability to lead the company to new heights. Li himself committed to accelerating FTFT's global strategic growth plan and achieving sustainable development.
Shineco, Inc. (NASDAQ: SISI), a provider of innovative diagnostic medical products and related medical devices, has closed its underwritten public offering of 1,869,160 shares of common stock at $1.07 per share. The offering raised approximately $2 million in gross proceeds, before deducting underwriting discounts and other expenses. EF Hutton acted as the sole book-running manager for the offering.
The company has granted the underwriters a 45-day option to purchase up to an additional 280,374 shares at the public offering price, less underwriting discounts. The offering was made pursuant to an effective shelf registration statement and accompanying prospectus filed with the SEC.
Shineco announced the pricing of its underwritten public offering of 1,869,160 shares of common stock at $1.07 per share, aiming to raise approximately $2 million before underwriting discounts and expenses. The offering includes a 45-day option for underwriters to purchase up to an additional 280,374 shares to cover over-allotments. The closing is expected on July 15, 2024, subject to customary conditions. EF Hutton is the sole book-running manager. The shares are offered under an effective shelf registration statement filed with the SEC. This press release is not an offer to sell or solicit the purchase of these securities.
Shineco (NASDAQ: SISI), a provider of innovative diagnostic medical products, announced an underwritten public offering of common stock and pre-funded warrants. All securities are offered by the Company, and the offering's completion is subject to market conditions. EF Hutton is the sole book-running manager. This offering is based on a previously filed and effective registration statement with the SEC. A preliminary prospectus supplement has been or will be filed with the SEC. Investors should refer to these documents for comprehensive details.
Shineco announced its subsidiary, Fuzhou Meida Health Management, has entered into distribution agreements for its water-soluble phospholipid concentrate health food beverage, projected to generate over $30 million in sales over three years.
The company highlights its advanced production technology, which ensures a pure physical separation and extraction of phospholipids without chemical solvents, providing a competitive edge.
Shineco has begun mass production to meet expected demand, aiming to diversify revenue streams within the healthcare sector. The global phospholipids market is predicted to grow significantly, presenting further opportunities.
On June 27, 2024, Shineco announced that it has regained compliance with Nasdaq's minimum bid price requirement. The company received formal notice from Nasdaq on June 5, 2024, confirming that its common stock closed at or above $1.00 per share for 10 consecutive business days from May 20 to June 4, 2024. This compliance ensures that Shineco remains listed on the Nasdaq stock market, closing the matter as per Nasdaq Listing Rule 5550(a)(2).
On June 24, 2024, Shineco (NASDAQ: SISI), a provider of diagnostic medical products and devices, announced it entered into a Securities Purchase Agreement (SPA) with non-U.S. investors. The agreement, signed on June 20, 2024, involves issuing up to 1,400,000 shares of common stock at $5.00 per share in a private placement, generating gross proceeds of approximately $7 million before expenses. The investors include a former related party purchasing 1,000,000 shares, a management member buying 200,000 shares, and an individual investor also acquiring 200,000 shares. The transaction is expected to close by July 31, 2024, with proceeds aimed at working capital and corporate purposes. The shares will be issued under Regulation S, exempting them from U.S. Securities Act registration requirements.
On June 18, 2024, Shineco signed an Investment Letter of Intent to invest $20 million in Beijing Oriental Meitong Technology in exchange for 80% of its shares. Shineco anticipates that this acquisition will enhance its core competencies and generate synergies, thus increasing the company's value. Meitong Technology, a durable medical equipment provider, serves over 12 million patients through partnerships with more than 800 hospitals in China. The company has an annual cash flow of nearly RMB 600 million. It plans to expand its market to nursing, home medical, and funeral equipment and aims to increase its domestic hospital clients to 1,500 within three years. With Shineco's support, Meitong Technology also targets a 20% increase in overseas sales within the same period. The collaboration aims to utilize data for accurate market analysis and product development, enhancing customer satisfaction and loyalty.
Shineco (NASDAQ: SISI) announced that its subsidiary, Shangkang Life Science, entered into a strategic cooperation agreement with Turing Video on June 14, 2024. The partnership aims to develop smart medical products integrating biotechnology and AI for geriatric care. The collaboration focuses on systems combining biosensors and smart cameras to monitor elderly health, providing real-time alerts and health management plans. Turing Video, specializing in smart security and remote care, brings over 40 patents and AI products for elderly and infant care. The market potential for the 'silver economy' in China is projected to reach RMB 30 trillion by 2035. Shineco believes this partnership will enhance its product competitiveness and address the challenges of traditional geriatric care models.
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