Acres Industrial Hemp Cultivation Were Terminated (PartⅡ)

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This part will continue to talk about for coronavirus, Australian 20 Thousand Acres industrial hemp cultivation were terminated.

The reporter of national business daily noted that Meichen ecology has successively released several investment announcements related to industrial hemp after its high-show "hemp involvement" cooperating with Careline Australia Pty Ltd.

The following is a review of Meichen ecology’s "hemp involvement."

On May 29, 2019, Meichen announced that SaiShi garden purchased 100% of the equity of Xin He hemp industry with its capital of 6 million RMB(A hemp enterprise in Shiping County, Yunnan province, China)development co., LTD. (hereinbelow referred to as Xin He hemp industry), which was held by Guangzhou Hui (another company). Xin He hemp industry was founded not long, has not yet started the business. However, Xin He held the license for industrial hemp cultivation and the permit for industrial hemp processing in Yunnan province. According to Meichen, the investment in the Xin He hemp industry is of strategic significance for Meichen to enter the industrial hemp industry, and the company will take this opportunity to layout the advantageous local industry as soon as possible and seize the industrial development opportunities.

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On December 10 of the same year, Meichen ecology said it would set up a fund named Huamei's new net with professional investment institutions to invest Huayi agricultural science and technology Ltd. Huayi agricultural science and technology is an agricultural enterprise mainly engaged in hydroponic planting and sales of fruits and vegetables, as well as export of agriculture facility. And, Meichen revealed that Huayi agricultural science and technology is actively cooperating with Israeli hemp enterprises in the field of industrial hemp in advance, seeking technical cooperation and seed introduction, and laying out the industrial hemp industry chain in advance.

More than ten days after the announcement of the above, Meichen ecology announced that it planned to jointly invest with Bense cloud biology to establish Bense cloud soil environmental pollution prevention and control co., LTD. (hereinbelow referred to as Bense cloud soil). The Bense cloud soil will be mainly engaged in comprehensive soil management, saltwater hemp, and reed, etc. Among them, Bense cloud soil will obtain the right to use no less than 6667 acres of land in Dongying, BinZhou, Weifang and other Yellow River delta areas which were got via land contracting or bidding and carry out the planting of hemp crops and reeds and salt-alkali land management within the scope permitted by national policies

On the whole, Meichen's "marijuana-related" activities are enough for entering the industrial hemp industry, but they have achieved little results and have limited influence on its profit. Meichen's 2019 annual performance bulletin shows that the company reached 2.948 billion yuan in operating revenue, reduced by 15.53% compared with 2018. Net profit was 83.47 million yuan, which decreased by 77.56% compared with 2018.

American marijuana policy

Since late march this year, Meichen ecology share price continued to decline. From March 16 to April 2, the company's share price dropped by 16.43%.

From this point of view, Meichen ecology share price suffered a lot due to coronavirus.

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Jane Yang, master of TCSOL, editor of VAPEBIZ.NET.

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