Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 20

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 20
---
of 51% of the issued equity interests of Changzhou Biowin Pharmaceutical Co., Ltd. (“Biowin”), a company established under
the laws of China, pursuant to the previously announced stock purchase agreement, dated as of October 21, 2022, among Beijing Kanghuayuan
Medicine Information Consulting Co., Ltd., a company established under the laws of China (“Seller”), Biowin, the Company and
Shineco Life. As the consideration for the acquisition, the Company paid to Seller US$9,000,000 in cash and the Company issued 13,583
shares of the Company’s common stock, par value US$0.001 per share, to the equity holders of Biowin or any persons designated by
Biowin. According to the Supplementary Agreement, dated as of December 30, 2022, by and among Shineco Life, the Seller and Biowin, the
Seller owned 51% of the issued equity interests of Biowin before January 1, 2023, and transferred the 51% of the issued equity interests
of Biowin together with its controlling rights of production and operation of Biowin to Shineco Life on January 1, 2023.

On May 29, 2023, Shineco Life entered into a stock
purchase agreement with Dream Partner Limited, a BVI corporation (“Dream Partner”), Chongqing Wintus Group, a corporation
incorporated under the laws of mainland China (“Wintus”), and certain shareholders of Dream Partner (the “Wintus Sellers”),
pursuant to which Shineco Life shall acquire 71.42% equity interest in Wintus (the “Wintus Acquisition”). As the consideration
for the Wintus Acquisition, the Company (a) paid the Wintus Sellers an aggregate cash consideration of US$2,000,000; (b) issued certain
shareholders, as listed in the agreement, an aggregate of 41,667 shares of the Company’s restricted Common Stock; and (c) transferred
and sold to the Wintus Sellers 100% of the Company’s equity interest in Tenet-Jove.

On January 9, 2025, Shineco Life established Beijing
Shineco Chonggao Technology Co., Ltd. (“Chonggao”) as a wholly foreign-owned entity with registered capital of RMB1.0 million
(approximately US$0.14