BEIJING, June 27, 2024 (GLOBE NEWSWIRE) – Shineco Inc. (“Shineco” or the “Company”; NASDAQ: SISI), a manufacturer of innovative medical diagnostic products and related medical devices, today announced that on June 5, 2024, the Company received formal notice from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that the Company has regained compliance with the minimum bid price requirement set forth in Nasdaq Listing Rule 5550(a)(2). The notice stated that the Company has regained compliance with the requirements of Nasdaq Listing Rule 5550(a)(2) due to the closing bid price of the Company’s common stock being at least $1.00 per share for the 10 consecutive business day period from May 20, 2024 through June 4, 2024, and advised that this matter is now closed.
About Shineco, Inc.
Shineco Inc. (“Shineco” or the “Company”) is committed to “providing healthy living and improving the quality of life” by providing society with safe, efficient and high-quality healthcare and medical products and services. To date, Shineco has researched and developed 33 in vitro diagnostic reagents and related medical devices through its subsidiaries. In addition, the Company produces and sells healthy and nutritious foods. For more information about Shineco, please visit www.biosisi.com/.
Forward-looking statements
This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements can be identified by terminology such as “may,” “will,” “should,” “could,” “intend,” “expect,” “plan,” “budget,” “forecast,” “anticipate,” “believe,” “estimate,” “predict,” “potential,” “continue,” “evaluate” or similar words. Forward-looking statements should not be relied upon because they are neither historical facts nor assurances of future performance. Instead, they are based only on our current beliefs, expectations and assumptions regarding the future of our business, future plans and strategies, projections, expected events and trends, the economy and other future conditions. Examples of forward-looking statements include, but are not limited to, statements we make regarding the innovativeness and market position of our products and services, our competitive strength and our expectation that the healthy meal replacement joint venture will produce competitive products in its space. We caution you not to rely on forward-looking statements. Actual results may differ materially from historical results or those indicated in the forward-looking statements as a result of a variety of factors, including, but not limited to, risks and uncertainties related to the Company’s ability to raise additional funding, its ability to maintain and grow its business, variability in operating results, its ability to maintain and enhance its brand, its development and launch of new products and services, the ability to obtain all necessary regulatory approvals in the jurisdictions in which it intends to market and sell its products, the successful integration of acquired businesses, technologies and assets into its product and service portfolio, marketing and other business development initiatives, industry competition, general government regulations, economic conditions, the impact of the COVID-19 pandemic, dependence on key personnel, the ability to attract, hire and retain personnel who have the necessary technical skills and experience to meet the needs of its customers and its ability to protect its intellectual property. Shineco encourages you to review other factors that could affect its future results in its filings with the Securities and Exchange Commission. The forward-looking statements in this press release are based only on information currently available to us and speak only as of the date of this press release. Shineco undertakes no obligation to update any forward-looking statements, except as required by applicable laws and regulations.
For more information, please contact:
Shineco, Inc.
[email protected]
Mobile: +86-010-68130220
Precept Investor Relations LLC
David J. Rudnick
[email protected]
Mobile: +1-646-694-8538
