Shineco, Inc. Regains Compliance with Nasdaq Continued Listing Requirement and Rules with Respect to Annual Meeting of Shareholders
BEIJING, Dec. 05, 2019 (GLOBE NEWSWIRE) -- Shineco, Inc. ("Shineco" or the "Company"; Nasdaq: TYHT), a producer and distributor of Chinese herbal medicines, organic agricultural produce, specialized textiles, and various health and well-being focused plant-based products in China, announced today that it has regained compliance with Nasdaq’s continued listing requirement and rules with respect to annual meeting of shareholders.
On July 1, 2019, the Company received a written notification from the Nasdaq Listing Qualifications Staff indicating that the Company did not comply with the annual meeting requirement for continued listing on The Nasdaq Capital Market set forth in Listing Rule 5620 (the “Rule”).
On December 4, 2019, the Company received another written notification from Nasdaq Listing Qualifications Staff indicating that the Company has regained compliance with the annual meeting requirement for continued listing on The Nasdaq Capital Market set forth in the Rule.
The Company has filed a Form 8-K with the Securities and Exchange Commission on December 2, 2019 for holding Company’s 2018/2019 annual meeting of shareholders on November 26, 2019.
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. 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
