RTTNews | May 4, 2021 10:41AM EDT

10:40 Tuesday, May 4, 2021 (RTTNews.com) - Shares of Shineco, Inc. (TYHT) surged over 40% on Tuesday morning after the company announced that it has proposed to buy 51% stake in Mayah Biological Holdings Ltd.

TYHT is currently trading at $17.14, up $5.20 or 43.55%, on the Nasdaq.

Shineco, a producer and distributor of Chinese herbal medicines, organic agricultural and hemp products, said it has signed a proposal for purchase of at least 51% equity interests in Mayah Biological.

Both the parties agreed to sign a agreement after going through the due diligence progress by both parties. However, there is no guarantee that the parties will enter into a definitive agreement.

Read the original article on RTTNews ( https://www.rttnews.com/3191383/stock-alert-shineco-surges-over-40.aspx)

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