Shineco, Inc. Announces It’s Unaware of Reason for Stock Volatility

Rhea-AI Summary

Shineco, Inc. (NASDAQ: TYHT) announced on June 1, 2021, that it is unaware of the reasons behind recent unusual stock price volatility. The company spoke with its officers, directors, and major shareholders, confirming that no undisclosed corporate developments exist. Shineco specializes in producing and distributing Chinese herbal medicines and organic products, operating through vertically integrated channels. The company emphasizes the importance of forward-looking statements and advises stakeholders about potential risks, including financial and operational uncertainties.

Positive

• None.

Negative

• Unexplained stock price volatility could indicate market concerns or investor uncertainty.
• No new corporate developments announced, which may signal stagnation in business activity.

BEIJING, June 01, 2021 (GLOBE NEWSWIRE) -- Shineco, Inc. (“Shineco” or the “Company”; NASDAQ: TYHT), a producer and distributor of Chinese herbal medicines, organic agricultural and hemp products, today announced in response to unusual market activity, and after speaking with its officers, directors, major shareholders and other relevant persons, that it is unaware of the reason behind recent stock price volatility. The Company confirms that there is no corporate development relating to its business and affairs that has not been previously announced.

About Shineco, Inc.

Incorporated in Delaware in August 1997 and headquartered in Beijing, China, Shineco is a holding company. Through its subsidiaries and variable interest entities, Shineco undertakes 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 Shineco, please visit http://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. You are cautioned not to place undue reliance on these 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, the impact of the COVID-19 pandemic, 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 its registration statement and in its other filings with the Securities and Exchange Commission, including the risks described under “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in its annual report on Form 10-K for the fiscal year ended June 30, 2020. The forward-looking statements in this press release are based on current expectations and Shineco assumes no obligation to update these forward-looking statements.

For more information, please contact:

Tina Xiao
Ascent Investor Relations LLC
Phone: +1-917-609-0333
Email: tina.xiao@ascent-ir.com

FAQ

Why did Shineco's stock price become volatile on June 1, 2021?

Shineco announced it is unaware of the reasons behind the unusual stock price volatility on June 1, 2021.

What are the core operations of Shineco, Inc.?

Shineco focuses on producing and distributing Chinese herbal medicines and organic agricultural products.

What does Shineco say about future expectations?

Shineco emphasizes that its forward-looking statements may differ materially due to various risks and uncertainties.

Is there any new corporate development from Shineco?

Shineco confirmed that there are no recent corporate developments that have not been previously announced.

What risks does Shineco highlight?

Shineco identifies risks including financial uncertainties, competition, and operational challenges in its press release.