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BRIEF-Shineco enters into RMB 1.12 billion worth of strategic cooperation agreement
November 21, 2017 / 2:17 PM / in 20 days

BRIEF-Shineco enters into RMB 1.12 billion worth of strategic cooperation agreement

Nov 21 (Reuters) - Shineco Inc:

* Enters into RMB 1.12 billion worth of strategic cooperation agreement for Apocynum Industrial Park Projects in the Nationally Designated Economic Development Zone in Xinjiang, China

* Unit entered into strategic cooperation agreement with Korla Economic and Technological Development Zone Administrative Committee​

* Runze is expected to invest in aggregate of RMB 1.12 billion funding, comprising of bank loans and co raised capital, into projects under agreement​

* After completion of construction, installation by Nov 2018 and commencement, projects are expected to generate RMB 600 million net profit annually​ Source text for Eikon: Further company coverage:

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