Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 210

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 210
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    $746,862  
    $1,187,200 

Operating
Activities

Net
cash used in operating activities during the six months ended December 31, 2024 was approximately US$2.7 million, consisting of net loss
from continuing operations of US$4.8 million, depreciation and amortization expenses of US$2.7 million, allowance for credit losses and
doubtful accounts of US$1.4 million, deferred tax benefit of US$0.6 million, and net changes in our operating assets and liabilities,
which mainly included an increase in advances to suppliers of US$11.8 million and a decrease in other payables and accrued expenses of
US$1.3 million, partially offset by an increase in contract liabilities of US$10.0 million and an increase in accounts payable of US$1.9
million.

63

Net
cash used in operating activities during the six months ended December 31, 2023 was approximately US$2.7 million, consisting of net loss
from continuing operations of US$8.6 million, depreciation and amortization expenses of US$2.4 million, forgiveness of subscription receivable
of US$3.0 million, and net changes in our operating assets and liabilities, which mainly included a decrease in accounts receivable of
US$5.2 million and increase in contract liabilities of US$3.1 million, partially offset by the increase in advances to suppliers of US$5.0
million and decrease in accounts payable of US$4.4 million.

Investing
Activities

For
the six months ended December 31, 2024, net cash used in investing activities was US$2.8 million, primarily due to prepayment for business
acquisition of US$2.6 million and payment made for loans to third parties of US$0.5 million, partially offset by the repayment from loan
to third parties of US$0.3 million.

For
the six months ended December 31, 2023, net cash used in investing activities was US$13.9 million, primarily due to disposal of Tenet-Jove
of US$13.9 million, partially offset by the proceeds of business acquisition of Wintus of US$1.0 million.

Financing
Activities

For
the six months ended December 31, 2024, net cash provided by financing activities amounted to approximately US$5.8 million, due