Shineco, Inc. (SISI) is one of the largest Chinese holding companies. It utilizes advanced engineering and biotechnologies for the production of herbal medicines, organic agricultural product lines, and dedicated textiles.
SISI stock price in the regular trading on March 11, 2022, with a minute gain of 0.79% was $3.84. Its price plunged by 12.5% at the last check of the aftermarket session.
SISI: Events and Happenings
On March 11, 2022, SISI updated on its entry into a strategic cooperation contract by signing a deal with the Development Service Center of Weifang Binhai Science and Technology Innovation Park. Both the entities agreed upon building a pioneer tumor classification diagnosis and treatment center in China along with a digital telemedicine facility. The companies reported signing the contract on March 4.
On March 03, 2022, SISI unveiled its redesigned website which reflects its recent developments in the developmental trajectory upon its entry into the life science business. On February 24, 2022, SISI announced its entry into a strategic collaboration with Beijing Xihuan Psychological Consulting Co., on February 21. Both the firms agreed upon the joint building of an industry-university-research-medical collective portfolio for tumor patients’ psychological therapy.
On February 17, 2022, SISI informed the press about its entry into a contract with the Beijing Jinshengyun Pharmaceutical Technology Co. Both the companies agreed upon a thorough collaboration in the R&D of the novel technologies and assistance in the formation of its innovation center.
SISI: Key Financials
On February 14, 2022, SISI released a consolidated financial statement for the three months ended December 31, 2021. Some key figures are discussed below.
Revenue in the fourth quarter of 2021 was $0.73 million versus $0.78 million for the corresponding quarter of 2020. It observed a decline of $0.05 million in its total revenue YoY.
Net loss basic and diluted per common share for the company was $17.1 million or $1.96 versus $14.5 million or $4.52 for the same period of 2020. Its EPS recorded a gain YoY.
A 63% drop in the stock price of SISI was reported in the past six months. Most recently, its stock also dipped in aftermarket trading as the company announced its collaboration for the building of tumor classification diagnosis and treatment center in China.