Xuerong Bio-Tech invests 10.2m yuan in cordyceps venture

Shanghai Xuerong Bio-Technology is establishing Chengdu Xuecao Biotechnology with Qinghai Chenxin Biotechnology and director Zheng Weidong. The venture has 20 million yuan registered capital and will focus on cordyceps research, cultivation and sales.

Xuerong's subsidiary will contribute 10.2 million yuan for a 51% stake, while Zheng will invest 2.8 million yuan. The move supports the company's multi-variety strategy and aims to reduce edible mushroom business costs.