SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

FORM 8-K

  

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES AND EXCHANGE ACT OF 1934

 

Date of report (date of earliest event reported): November 13, 2017 (November 13, 2017)

  

SHINECO, INC.

(Exact name of registrant as specified in its charter) 

 

Delaware   001-37776   52-2175898
(State or Other Jurisdiction
of Incorporation) 		  (Commission File Number)   (IRS Employer
Identification No.)

 

2nd Floor, Wanyuan Business Center

10 N Hongda Road

Daxing District, Beijing

People’s Republic of China

(Address of principal executive offices)

 

Registrant’s telephone number, including area code: (+86) 10-87227366

  

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:

 

¨   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company   þ

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ¨

 

 

 

 

 

 

 

 

  

 

 

 

 

ITEM 8.01 OTHER EVENTS

 

On November 13, 2017, Shineco, Inc. (the “Company”) issued a press release announcing that the Company, through its subsidiary, Tianjin Tajit E-Commerce Ltd., has further developed the cooperation with Daiso Industries Co., Ltd. (“Daiso”), a large franchise of 100-yen shops founded in Japan, through a supply and purchase agreement (the “Agreement”) entered into on November 3, 2017.

 

A copy of the press release is attached as Exhibit 99.1 hereto and incorporated by reference herein.

 

ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS

 

(c) Exhibits

 

Exhibit
Number 		  Description
99.1   Press Release dated November 13, 2017.

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  SHINECO, INC.  
     
     
  By: /s/ Yuying Zhang  
  Name:   Yuying Zhang  
  Its: Chief Executive Officer  

 

Dated: November 13, 2017

 

 

 

 

 

 

 

 

 

 

Exhibit 99.1

 

Shineco, Inc. Provides Update on Further Cooperation with Daiso via JD.com

 

BEIJING, November 13, 2017 /PRNewswire/ -- Shineco, Inc. ("Shineco" or the "Company"; NASDAQ: TYHT), a producer and distributor of Chinese herbal medicines, organic agricultural products, specialized textiles, and other health and well-being focused plant-based products in China, today announced that it has further developed the cooperation with Daiso Industries Co., Ltd. (“Daiso”) through a supply and purchase agreement (the “Agreement”) entered into on November 3, 2017. As previously disclosed in the press release on October 27, 2017, Shineco is authorized to distribute Daiso's branded products via JD.com, through its subsidiary, Tianjin Tajit E-Commerce Ltd.

 

The Agreement was entered into for the purpose of establishing a continuous supply and sale of Daiso’s products in China. Pursuant to the Agreement, Shineco shall purchase Daiso Products in the amount of approximate RMB 20 million no later than December 31, 2017 and add orders as circumstance requires. The term of the Agreement is currently one year, and it extends for one additional year at each expiration date unless written notice of termination is given by either of the parties of the Agreement.

 

Mr. Yuying Zhang, Chairman and Chief Executive Officer of Shineco, stated, “We are proud to be selected as the partner of Daiso in China, a partnership that will serve as a promising catalyst for the development of Shineco. This strategic partnership between our two companies will create a stable supply chain with more frequent deliveries. We look forward to working together to ease the purchase process, and, ultimately, to benefit Chinese customers.”

 

About Shineco, Inc.

 

Incorporated in August 1997 and headquartered in Beijing, China, Shineco, Inc. ("Shineco" or the "Company") is a Delaware holding company that uses its subsidiaries' and variable interest entities' 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 the Company, please visit   www.tianyiluobuma.com .

 

About Daiso Industries Co., Ltd.

 

Founded in December 1977 and headquartered in Higashihiroshima, Hiroshima Prefecture, Japan, Daiso Industries Co., Ltd.("Daiso") operates home center chains throughout the world. Daiso develops and sells dining, kitchen, living, food, household, and home decorating products, as well as accessories, stationery, toys, and hardware. Daiso has a range of over 100,000 products, of which over 40 percent are imported goods, many of them from China. Daiso has locations in 25 countries and regions worldwide. Daiso uses such locations as previous pachinko parlours for its retail outlets. Daiso invest on shelving and fixtures to help the stores compete with more high-end retailers. Daiso has 2,800 stores in Japan, 1,150 in South Korea, and 700 stores overseas in Australia, Bahrain, Brazil, Cambodia, Canada, China, Hong Kong, Indonesia, Kuwait, Macau, Malaysia, Mexico, Myanmar, New Zealand, Oman, Philippines, Qatar, Saudi Arabia, Singapore, Taiwan, Thailand, United Arab Emirates, United States of America, and Vietnam. For more information about the Company, please visit www.daiso-sangyo.co.jp .

 

 

 

 

 

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