Countable Chinese Authorities Say Cannabis Legalization in Canada-US-Poses | Countable.US

China Shenzhen Capstone Obtains Hemp Cultivation License, Daily Price Limit

Countable Chinese Authorities Say Cannabis Legalization in Canada-US-Poses | Countable.US

On May 13, China Shenzhen Capstone Industrial Co. Ltd. announced that its holding subsidiary Yunnan Huayun Jinxin Biotechnology Co., Ltd., recently obtained industrial cannabis with a plantable area of ​​about 3.3 km² issued by the Public Security Bureau of Binchuan County, Dali Prefecture, Yunnan Province. Planting permit.

After the industrial hemp cultivation license expiry with an area of ​​333,333 square meters, Huayun Jinxin Eryuan Branch applied again for the industrial hemp cultivation license with an area of ​​about 133,333 square meters issued by the Public Security Bureau of Eryuan County, Dali Prefecture, Yunnan Province.

U.S.: Feds Issue Badly Needed Hemp and CBD Banking Guidance
U.S.: Feds Issue Badly Needed Hemp and CBD Banking Guidance.

Encouraged by this news, Shenzhen Capstone’s stock price limit, the latest total market value of 5.76 billion, turnover rate of 12.62%.

Shenzhen Capstone is a “technology” + “culture” industry group, providing the following services:

  • New media communication
  • Financial Services
  • Big data services
  • Digital entertainment
  • Internet of Things

In 2019, Shenzhen Capstone began to layout the industrial cannabis extraction and processing business as well as the industrial cannabis traceability and media ecological chain business based on blockchain technology.

As China's Hemp Industry Suffers Can Be U.S. Hemp Producers' Gain?

Huayun Jinxin’s primary business is:

  • Cultivation and processing of industrial hemp
  • Cannabidiol (CBD) in biopharmaceuticals, health products, cosmetics and other fields of application research and development
  • Cosmetics production and sales

According to relevant regulations, enterprises want to carry out industrial cannabis cultivation, processing, and other businesses in advance. The premise is that they need to obtain a cultivation permit and a processing permit.

As of now, Shenzhen Datong holds a total of 4,666,200 square meters of industrial cannabis cultivation license, and the relevant license qualifications are conducive to accelerating the implementation of the company’s industrial cannabis industry development project. The company said that industrial cannabis cultivation requires a certain period and not expected to have a significant impact on the company’s short-term performance.

According to public information, the planting varieties of Huayun Jinxin and Huayun Jinxin Eryuan Branch are both Yunma No. 7, and the industrial hemp cultivation license starts from May 2020 and is valid for two years.

According to Zion market research, the global industrial cannabis industry is in a stage of rapid growth. As of the end of 2019, more than 50 countries worldwide have declared CBD legal. In the United States, CBD has widely used in health care products, food and beverage, skincare products, electronic cigarettes, pet supplies, and other fields.

SHARE TO

Share on facebook
Share on twitter
Share on tumblr
Share on reddit
Share on linkedin
Share on telegram

PREVIOUS WEEKS