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, Inc. (NASDAQ: SISI) has announced a non-binding framework agreement to acquire 80% equity interests in Dream Partner Limited for an estimated $40 million. This acquisition targets Chongqing Wintus Group, a producer of antiviral silk fabric materials, to enhance Shineco's portfolio in the medical and healthcare sectors. The LOI is contingent upon shareholder approval and due diligence, which includes a third-party audit. Shineco's CEO highlighted potential synergies with previous acquisitions, aiming to create a vertically integrated R&D and production platform.
Shineco, Inc. (NASDAQ: SISI) announced that its affiliate, Changzhou Biowin Pharmaceutical Co., Ltd., received a Prior Approval Supplement from the Jiangsu Medical Products Administration for its 'Cardiac 5-minute Test'. This rapid diagnostic test detects key cardiac markers, aiming to improve the clinical diagnosis of acute myocardial infarction and reduce diagnosis time to under 10 minutes. This innovative product targets a global market worth over $3.5 billion and has significant potential in enhancing patient outcomes, especially in critical cardiovascular cases.
Shineco, Inc. (SISI) announced a significant advancement with the granting of a patent and FDA marketing approval for its in-situ fecal specimen sampling device. This innovative product simplifies stool sample collection with a design that enhances privacy and reduces contamination risk. It was recently showcased at MEDICA 2022, attracting attention from industry professionals. The device's features include a fingertip swab and unidirectional inlet, eliminating the need for traditional collection containers. Shineco aims to optimize stool collection for clinical tests, enhancing both convenience for patients and safety for laboratory staff.
Shineco, Inc. (SISI) announced its controlling affiliate, Changzhou Biowin Pharmaceutical Co., Ltd. (CBP), participated in MEDICA 2022 in Germany, showcasing innovative in vitro diagnostic products. Dr. Marvin Liu, Chairman of CBP, highlighted the success of introducing their COVID-19 home self-test, monkeypox testing products, and a leading stool sampling device. The presence at such a prestigious event is expected to enhance global awareness of CBP's technologies and foster partnerships, supporting the company's mission to deliver top-notch diagnostic solutions and create shareholder value.
On October 21, 2022, Shineco (NASDAQ: SISI) announced its acquisition of 51% of Changzhou Biowin Pharmaceutical Co., Ltd. for over $10 million. This strategic move aims to enter the Point-of-Care Testing (POCT) industry, which has seen a compound growth rate of 26%. CBP specializes in in-vitro diagnostics and has developed various rapid diagnostic products, particularly in high-demand areas like COVID-19 and Monkeypox. The deal is expected to enhance Shineco's market position and accelerate product development.
Shineco (NASDAQ: SISI) announced the appointment of Aamir Ali Quraishi as an Independent Director on August 17, 2022, succeeding Yanzeng An. Mr. Quraishi brings over 25 years of investment banking experience across Europe, Asia, and the Middle East, having completed over USD 20 billion in transactions. He has held leadership roles in various financial institutions, including Teneo Capital LLC. CEO Jennifer Zhan expressed gratitude towards Mr. An and optimism for Mr. Quraishi's contribution to Shineco's strategic growth.
On April 11, 2022, Shineco, Inc. (NASDAQ: SISI) announced a securities purchase agreement enabling the sale of approximately US$2.2 million in common stock at $2.26 per share to an accredited investor. The transaction is set to close on or about April 15, 2022, pending customary conditions. The net proceeds will be allocated to working capital and general corporate purposes. This offering is conducted under an effective shelf registration statement filed with the SEC. The company specializes in producing Chinese herbal medicines, organic agricultural products, and biotech items.
Shineco, Inc. (NASDAQ: SISI) announced organizational changes effective March 25, 2022. Mr. Yuying Zhang resigned as Chairman of the Board, and Mr. Mike Zhao, an existing Board member, was appointed as Chairman. Mr. Xiqiao Liu was appointed to the Board and will also serve as Chief Operating Officer. Zhao brings over 20 years of management experience, while Liu has over 10 years in investment and asset management. CEO Jennifer Zhan expressed gratitude to Zhang and optimism regarding the new appointments, aiming for continued growth and stability in the company.
Shineco, Inc. (NASDAQ: SISI) has entered into a fund establishment cooperation agreement with Beijing Jin Tai Yuan Feng Investment Management Co., Ltd. to create a life science-focused limited partnership fund in Shandong Province, China. JTYF aims to raise RMB200 million for the fund, which will invest in high-growth life science projects. Shineco will participate in the fund's investment committee, facilitating its strategic transition into healthcare and biotechnology sectors. This collaboration aligns with Shineco's goal to develop digital medical care and enhance its market presence.
On March 4, 2022, Shineco, Inc. (NASDAQ: SISI) signed a strategic agreement to develop a city-level tumor classification diagnosis and treatment center in Weifang, China, as part of its Life Science Industrial Park Project. The company plans to invest $500 million, with $100 million allocated to the center, expected to treat 100,000 tumor patients annually. This initiative aligns with China's public service goals and aims to enhance local medical resources, offering advanced diagnostic services at reduced costs, potentially saving patients up to RMB 5 billion in medical expenses.
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