Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 58

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 working capital for one year, with a maturity date of September 29, 2024. The loan has a fixed
    interest rate of 15.0% per annum. The Company repaid totaling $0.4 million during the year ended June 30, 2024. As of June 30, 2024,
    the total outstanding balance, including principal and the interest, amounted to US$478,547. During the six months ended December
    31, 2024, all of the amounts, including principal and interest due to Lyu Jiajia, were offset with the consideration for shares purchased
    from the Company. 

    b.
    The amounts pertain to advances from its related parties for the Company’s
working capital during the Company’s normal course of business. These advances are unsecured, non-interest bearing and due on demand.

Interest expenses on loans due to related
parties were US$14,450 and nil from continued operations for the six months ended December 31, 2024 and 2023, respectively. Interest
expenses on loans due to related parties were both nil from continued operations for the three months ended December 31, 2024 and 2023,
respectively.

Interest expenses on loans due to related
parties were nil and US$1,526 from discontinued operations for the six months ended December 31, 2024 and 2023, respectively. Interest
expenses on loans due to related parties were both nil from discontinued operations for the three months ended December 31, 2024 and
2023.

Sales to a Related Party

The Company made sales of US$678,142
and US$811,131 to its related party, Chongqing Fuling District Renyi Zhilu Silk Industry Co., Ltd, for the six months ended December
31, 2024 and 2023, respectively. The Company made sales of US$286,334 and US$680,330 to its related party, Chongqing Fuling District
Renyi Zhilu Silk Industry Co., Ltd, for the three months ended December 31, 2024 and 2023, respectively.

Loan guarantee provided by related
parties

The Company’s related parties provide
a guarantee for the Company’s bank loans (see Note 13).

    29

Loan guarantee provided to a related
party

As of December 31, 2024 and June 30,
2024, Ch