Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 81

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 81
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 and June 30, 2024, respectively. The cash balance held in the PRC bank accounts from the discontinued operations was US$87,107
and US$235,828 as of March 31, 2025 and June 30, 2024, respectively.

During the nine and three months ended March 31, 2025
and 2024, almost 100% of the Company’s assets were located in the PRC and 100% of the Company’s revenue was derived from its
subsidiaries and VIEs located in the PRC.

For the nine months ended March 31, 2025, two customers
accounted for approximately 40% of the Company’s total sales from the continuing operations. For the three months ended March 31,
2025, four customers accounted for approximately 57% of the Company’s total sales from the continuing operations.

For the nine months ended March 31, 2025, no customer
accounted for more than 10% of the Company’s total sales from the discontinued operations. For the three months ended March 31,
2025, four customers accounted for approximately 57% of the Company’s total sales from the discontinued operations.

For the nine months ended March 31, 2024, three customers
accounted for approximately 42% of the Company’s total sales from the continuing operations. For the three months ended March 31,
2024, three customers accounted for approximately 46% of the Company’s total sales from the continuing operations.

For the nine months ended March 31, 2024, four customers
accounted for approximately 58% of the Company’s total sales from the discontinued operations. For the three months ended March
31, 2024, two customers accounted for approximately 72% of the Company’s total sales from the discontinued operations.

As of March 31, 2025, one customer accounted for approximately
100% of the Company’s accounts receivable from the continuing operations. As of March 31, 2025, three customers accounted for approximately
95% of the Company’s accounts receivable from the discontinued operations.

As of June 30, 2024, one customer accounted for approximately
89% of the Company’s accounts receivable from the continuing operations. As of June 30, 2024, two customers accounted for approximately
91% of the Company’s accounts receivable from the discontinued operations.

    43

For the nine months ended