Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 44

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 44
---
101,936 
  
    Construction in progress 
     229,681  
     230,661 
  
    Subtotal 
     8,845,718  
     9,925,461 
  
    Less: accumulated depreciation and amortization 
     (3,707,037) 
     (3,556,394)
  
    Less: accumulated impairment for property and equipment 
     (88,928) 
     (89,308)
  
    Total property and equipment, net 
    $5,049,753  
    $6,279,759 

Depreciation and amortization expense
charged to the continuing operations was US$231,091 and US$243,189 for the six months ended December 31, 2024 and 2023, respectively.
Depreciation and amortization expense charged to the continuing operations was US$98,883 and US$109,932 for the three months ended December
31, 2024 and 2023, respectively.

Depreciation and amortization expense
charged to the discontinued operations was nil and US$2,403 for the six months ended December 31, 2024 and 2023, respectively. Depreciation
and amortization expense charged to the discontinued operations was both nil for the three months ended December 31, 2024 and 2023.

The Company also provides its
customers with specialized testing devices as its customers could only use these devices to generate results from these rapid
diagnostic products. The ownership of these specialized testing devices is not transferred to its customers, but remains as the
Company’s properties. The specialized testing devices will be returned to the Company when they are no longer required by the
customer. As of December 31, 2024 and June 30, 2024, properties with net book values of US$25,441
and US$24,223
were held by the Company’s customers.

    21

On May 29, 2023, the Company’s
Board approved the pledge of real estate property as collateral to guarantee a personal loan of Zhang Yuying, the former chairman of
the Board and legal representative of Tenet-Jove. This collateral was provided in exchange for the transfer of the real estate title
from Zhang Yuying to Chongshi, a subsidiary of the Company. According to the memorandum between the Company and Zhang Yuying, it was
anticipated that the loan would