Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 114

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 114
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77.82)%
  
    Healthy meal products 
     -  
     -  
     (8,342) 
     (2.67)% 
     8,342  
     (100.00)%
  
    Total Amount 
    $121,460  
     100.00% 
    $312,318  
     100.00% 
    $(190,858) 
     (61.11)%

58

Gross
profit from sales of rapid diagnostic and other products decreased by US$21,481, or 23.28%, for the three months ended December 31, 2024
as compared to the same period in 2023. The decrease in gross profit was due mainly to the decrease in sales during the three months
ended December 31, 2024. During the three months ended December 31, 2024, we reduced the number of workers to improve our production
efficiency, hence, our gross margin for rapid diagnostic and other products increased during the three months ended December 31, 2024.

Gross
profit from sales of other agricultural products decreased by US$177,719, or 77.82%, for the three months ended December 31, 2024 as
compared to the same period in 2023. Despite the increase in sales of other agricultural products, our gross margin decreased during
the three months ended December 31, 2024, which was mainly due to the increased sales of fresh fruits that has lower gross profit.

Gross
profit from sales of healthy meal products increased by US$8,342, or 100.00%, for the three months ended December 31, 2024 as compared
to the same period in 2023. As mentioned above, the management decided to temporarily suspend healthy meal products business to avoid
further losses, hence, gross profit increased during the three months ended December 31, 2024 as compared to the same period last year.

Expenses

The
following table sets forth the breakdown of our operating expenses for the three months ended December 31, 2024 and 2023, respectively:

    Three Months Ended December 31,  
    Variance 

    2024  
    %  
    2023  
    %  
    Amount  
    % 
  
    General and administrative expenses 
    $2,663,623