Globalink Ltd. announced that Globalink Ltd. and China Xuzhou Shizhen Biotech Co. Ltd. has signed a sino-foreign joint venture contract and has formed and registered a local joint-venture company, Globalink (Jiangsu) Biotech Limited Liability Company in Pizhou, Jiangsu Province, to further Globalink's participation into the physical and mental health maintenance program, offered by products derived from gingko leaf extractions. The new joint-venture company subsequently has signed supply contracts with local governments for the supply of gingko leaves.

Purchase contracts were also signed with local wholesalers to consume 60% of all products the JV company produce. Globalink Ltd. holds 80% interest while the local company holds 20% interest.