Shineco Signs Strategic Cooperation Deal With Government of Bayingolin Mongol – Shares Up 9%

Shineco (TYHT) shares were up almost 9% Monday morning after the maker of Chinese herbal medicines said that through its JV, Xinjiang Shineco Taihe Agriculture Technology, it has signed a strategic cooperation agreement with the People’s Government of Bayingolin Mongol Autonomous Prefecture for the company’s Apocynum Industrial Integration Construction Project.

The company last month officially established its Apocynum Industrial Integration Construction Project in Bazhou.

The project is now operated by the company’s JV and has secured the requisite local government approvals.

The company and the Bazhou Autonomous Prefecture have entered into the agreement to grow Apocynum, expand and strengthen the Apocynum industry.