Shineco Announces the Appointment of Two New Executive Officers

BEIJING, Nov. 17, 2023 (GLOBE NEWSWIRE) — Shineco, Inc. (“Shineco” or the “Company”; NASDAQ: SISI), a provider of technologically advanced healthcare products and services, announced today that its Board of Directors has appointed Ms. Xiaohui Wang and Mr. Chi Keung Yan as executive officers of the Company in key leadership roles.

Effective November 13, 2023, Shineco’s Board of Directors appointed Ms. Xiaohui Wang as Executive President of the Company. From March 2000 to November 2013, Ms. Wang was the founder and Chairperson of Chongqing Wintus (New Star) Enterprises Group, where she was responsible for its corporate planning, supervision of the group’s business in the Chongqing region, and where she planned and executed its core investment projects. From February 1991 to March 2000, Ms. Wang worked as Manager at Chongqing Silk Import and Export Company where she was responsible for the company’s import and export management. After joining the Chongqing Cocoon Silk Group, she held successive positions as the Director of President Office and Group Assistant, accumulating experience in textile, silk fabric development, and the clothing trade and export management. Ms. Wang has been honored with numerous awards such as the “National Silk Lifetime Achievement Award,” “National March 8th Red-Banner Holder,” “Chongqing City Outstanding Individual in Foreign Affairs Work,” “Chongqing Outstanding Female Entrepreneur,” “One of Chongqing’s Top 100 Outstanding Private Entrepreneurs,” and “Advanced Individual by the Chongqing Municipal People’s Government.” Ms. Wang currently serves as Vice President of China Silk Association, Director of the International Silk Federation, Vice Chairman of Chongqing Silk Society and Vice Chairman of Chongqing Women and Children’s Foundation. Ms. Wang graduated with a Master’s degree in Business Administration from the University of Northern Virginia.

Effective November 13, 2023, Shineco’s Board of Directors appointed Mr. Chi Keung Yan as the Chief Strategy Officer of the Company. From 1997 to 2023, Mr. Yan was the CEO and Executive Director of Chongqing Wintus (New Star) Enterprises Group, where he was primarily responsible for its restructuring, mergers and acquisitions, and market development. Since 2018, Mr. Yan served as a Senior Partner at Wealth Index Capital Limited (Hong Kong), overseeing corporate restructuring, mergers and acquisitions consulting, and corporate financing. In 2020, Mr. Yan was Investment Director at Hong Kong Nice Talent Asset Management Limited, managing investments in stocks, foreign exchange and gold, among other assets. Since 2016, Mr. Yan has been the Vice President of the Chongqing Enterprise Federation and the Vice President of the Chongqing Hong Kong-Macao Chamber of Commerce. Mr. Yan has also held positions such as Partner at Firstline Capital Asia Pacific and Chinese Partner at Shenzhen Qianhai Wanyin Investment Fund Management Co., Ltd. In 2019, he was appointed as a Visiting Professor at the Biology Research Center of the Institute of Frontier and Interdisciplinary Science at Southwest University. Mr. Yan graduated with a Bachelor’s degree in Marketing from the Lee Wai Lee Technical Institute in Hong Kong in 1990 and completed a Master’s degree in Chinese Market Studies from City Polytechnic of Hong Kong in 1995.

Ms. Jennifer, CEO of Shineco, said, “We are pleased to welcome Ms. Wang and Mr. Yan to our leadership team. Based on their professional knowledge and deep experience, and with their outstanding leadership abilities in related fields, we believe that Shineco has strengthened its business capabilities in strategic planning, mergers and acquisitions, financing, trade and in our day-to-day operations. With the help of Ms. Wang and Mr. Yan, we believe that the Company will achieve great success in the fields of healthcare, medical products and healthy foods, as the Company makes positive contributions to the quality of people’s health and lives.”

About Shineco, Inc.

Shineco Inc. (“Shineco” or the “Company”) aims to ‘care for a healthy life and improve the quality of life’, by providing safe, efficient and high-quality health and medical products and services to society. Shineco has researched and developed 33 vitro diagnostic reagents and related medical devices to date, and the Company also produces and sells healthy and nutritious foods. For more information about Shineco, please visit www.biosisi.com/.

Forward-Looking Statements

This news 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”, “evaluating” 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, anticipated events and trends, the economy and other future conditions. Examples of forward-looking statements include, among others, statements we make regarding the innovativeness and market position of our products and services, our competitive strengths, and our expectation that the Cardiac 5-minute Test will be one of the leading products in this field to meet the demand of obtaining the test result shortly upon arrival. You are cautioned not to rely on any forward-looking statements. Actual results may differ materially from historical results or those indicated by the forward-looking statements as a result of a variety of factors including, but not limited to, risks and uncertainties associated with the Company’s ability to raise additional funding, its ability to maintain and grow its business, variability of operating results, its ability to maintain and enhance its brand, its development and introduction of new products and services, the ability to obtain all necessary regulatory approvals in the jurisdictions where it intends to market and sell its products the successful integration of acquired companies, technologies and assets into its portfolio of products and services, marketing and other business development initiatives, competition in the industry, 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 possess the technical skills and experience necessary to meet the requirements of its clients, and its ability to protect its intellectual property. Shineco encourages you to review other factors that may 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, and Shineco assumes no obligation to update any forward-looking statements except as required by the applicable rules and regulations.

For more information, please contact:

Shineco,Inc.
secretary@shineco.tech
Mobile: +86-010-68130220

Precept Investor Relations LLC
David J. Rudnick
david.rudnick@preceptir.com
Mobile: +1-646-694-8538