Guangzhou Lonkey rides high on industrial hemp

Guangzhou-based Lonkey Industrial, which is principally engaged in the production and distribution of washing powder, liquid laundry detergent, soap series products and other washing products, announced to have signed a strategic partnership agreement with Heilongjiang-based Longma Biotechnology Ltd.

The two companies will cooperate on industrial hemp related research and development, establish product and industry standards, and incubate industrial hemp products and brands, provide supports for each other on products, brands, services and capital.

Lonkey said it has been aware of the technological development of industrial hemp since last year. It hopes to carve out a new market share through the cooperation with Longma. Hemp seed oil, cannabinoids hand wash and shower gel will be part of the new product portfolio.

Since the announcement, Lonkey’s stock rose to limit order, causing probe from the Shenzhen Stock Exchange.

Read more (in Chinese).