Shineco to effect 50-for-1 reverse stock split

Shineco’s (SISI) Board of Directors has approved a 50:1 reverse stock split of the Company’s issued and outstanding common stock, par value $0.001 per share to be effective 12:01 a.m., Eastern Time, on August 11. The Company’s Common Stock will continue to trade on the Nasdaq Capital Market under the symbol “SISI” following the reverse stock split, with a new CUSIP number of 824567606. The Company expects its Common Stock to open for trading on a post-split basis on Nasdaq as of the commencement of trading on August 11. On July 3, 2025, the Company’s stockholders approved a reverse stock split of the Company’s Common Stock at a ratio of not less than 25:1 and note more than 60:1, with such ratio to be determined at the discretion of the Company’s Board of Directors. The reverse stock split is intended to bring the Company into compliance with the minimum bid price requirement for continued listing on Nasdaq, although there is no assurance that the trading price for the Common Stock would remain over the continued listing requirements of Nasdaq in order to regain compliance with the Bid Price Requirement or sustain a continued listing of our Common Stock on the Nasdaq. Further, despite the implementation of the reverse stock split and the achievement of technical compliance with the minimum bid price requirement, there is no assurance that Nasdaq will make a positive determination to continue our listing following the review of our compliance plan by Nasdaq Listing and Hearing Review Council.