Shineco Life Science, a subsidiary of Shineco, has agreed to acquire a 75% equity interest in FuWang Company, a medical device manufacturer, for approximately US$8.8 million in cash, 3.4 million shares of Shineco common stock, and transfer of a 71.42% stake in Dream Partner Limited.
Shineco Inc. entered into an Investment Letter of Intent on June 18, 2024, to invest $20 million in Beijing Oriental Meitong Technology Co., Ltd. in exchange for 80% of Meitong Technology's shares. Meitong Technology is a durable medical equipment company.
Shineco, Inc. entered into a non-binding framework agreement to acquire 80% equity interests of Dream Partner Limited, which indirectly owns 100% of Chongqing Wintus Group, a producer of antiviral silk fabric materials. The estimated purchase price is approximately $40 million.