Shineco, Inc. (NasdaqCM:SISI) entered into a non-binding framework agreement to acquire 80% stake in Dream Partner Limited for $40 million on January 13, 2023. According to the LOI, the total purchase price of the acquisition is estimated to be approximately $40 million which is expected to consist of cash and Shineco's common stock. The LOI represents terms for a proposed transaction and will be subject to legal and financial due diligence, which includes a third-party audit and evaluation, Shineco?s shareholder?s approval and definitive documentation.

Shineco Life Science Group Hong Kong Co., Limited entered into a stock purchase agreement.to acquire 71.42% stake in Dream Partner Limited on May 29, 2023. As the consideration for the acquisition, Shineco paid the Sellers an aggregate cash consideration of $2 million, issued certain shareholders issued certain shareholders, an aggregate of 10 million shares of Shineco?s restricted Common Stock, and transferred and sold to the sellers 100% of Shineco?s equity interest in Beijing Tenet-Jove Technological Development Co., Ltd. The acquisition was approved by Shineco's shareholders at the special meeting of stockholders held on July 20, 2023.