Shineco announces acquisition of medical device company

Shineco (SISI) announced that on March 20, 2025, Shineco Life Science Group Hong Kong Co., a subsidiary of the Company, entered into a Stock Purchase Agreement with Yi Yang, for 75% of an equity interest in FuWang International Company Limited. The Seller is the current and only shareholder of FuWang Company, which specializes in the R&D, manufacturing, and commercialization of medical devices. Pursuant to the SPA, Shineco Life Science will acquire a 75% equity interest in FuWang Company. In consideration of the acquisition, Shineco Life Science shall pay the Seller approximately US$ 8.8 million in cash, the Company shall issue 3,400,000 shares of the Company’s common stock, and it will transfer the 71.42% equity interest in Dream Partner Limited it holds to the Seller.