China's Shineco: Another jump on firming up hemp market plans

Shineco

04/04/2019 14:53

** Shares of Shineco  TYHT.O , a Chinese herbal medicines
producer and distributor, surge ~20 pct in heavy volumes
    ** Co signs cooperation agreement with the Xingshan People's
Government of Hegang City of Heilongjiang Province to build an
industrial hemp planting base  urn:newsml:reuters.com:*:nFWN21M0PX
    ** Besides joint R&D, plans is to a build a CBD extraction
industrial park and an industrial hemp workstation
    ** Co expects annual output of 30 tons of CBD extract and
other raw medical materials, whose value could reach $313 mln
    ** Shineco market value was ~$25 mln as of Weds.s close
    ** Over 4.5 mln TYTH shares traded, well above 25-day avg of
1.7 mln, and making them the 8th most actively traded
    ** TYTH has more than doubled YTD (up 125%), after a
163%surge in March on move into cannabis market  urn:newsml:reuters.com:*:nL3N2162CR
 urn:newsml:reuters.com:*:nL3N2173JA

 (Reporting by Savio D'Souza)
 ((RM:savio.dsouza.thomsonreuters.com@reuters.net))