Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 55

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 55
---
    Less: accumulated amortization 
     (2,853,823) 

    Total intangible assets, net 
     9,829,833  

    Less: intangible assets, net held for discontinued operation 
     -  

    Intangible assets, net held for continuing operations 
    $9,829,833  

The amortization expense of intangible assets was
US$951,275 and US$951,273 from the continuing operations for the nine months ended March 31, 2025 and 2024, respectively. The amortization
expense of intangible assets was US$317,092 and US$317,091 from the continuing operations for the three months ended March 31, 2025 and
2024, respectively.

Under ASC 805-10, acquisition-related costs (i.e.,
advisory, legal, valuation and other professional fees) are not included as a component of consideration transferred, but are expensed
in the periods in which the costs are incurred. Acquisition-related costs were nil for the nine and three months ended March 31, 2025
and 2024.

The Company has included the operating results of
Biowin in continuing operations in its unaudited condensed consolidated financial statements since the Acquisition Date. US$258,091 in
net sales and US$1,002,687 in net loss of Biowin were included in the unaudited condensed consolidated financial statements for the nine
months ended March 31, 2025. US$40,971 in net sales and US$354,056 in net loss of Biowin were included in the unaudited condensed consolidated
financial statements for the three months ended March 31, 2025. US$441,927 in net sales and US$916,377 in net loss of Biowin
were included in the unaudited condensed consolidated financial statements for the nine months ended March 31, 2024. US$142,805 in
net sales and US$294,752 in net loss of Biowin were included in the unaudited condensed consolidated financial statements for the
three months ended March 31, 2024.

    28

Acquisition of Wintus

On May 29, 2023, Shineco Life entered into a stock
purchase agreement with Dream Partner, Wintus and the Wintus Sellers, pursuant to which Shineco Life shall acquire