Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 40

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 40
---
,356,873  
    $8,153,850 
  
    Acquisition of subsidiaries 
     -  
     173,101 
  
    Charge to allowance 
     381,095  
     118,499 
  
    Less: disposal of VIEs 
     -  
     (7,195,304)
  
    Foreign currency translation adjustments 
     (12,101) 
     106,727 
  
    Ending balance 
    $1,725,867  
    $1,356,873 

NOTE 5 – INVENTORIES, NET

The inventories, net consisted of the
following:

SCHEDULE
OF INVENTORIES, NET

    December 31, 2024  
    June 30, 2024 

    Raw materials 
    $262,896  
    $290,152 
  
    Work-in-process 
     85,873  
     338,902 
  
    Finished goods 
     1,348,031  
     989,914 
  
    Less: inventory reserve 
     -  
     (30,443)
  
    Total inventories, net 
    $1,696,800  
    $1,588,525 

NOTE 6 – ADVANCES TO SUPPLIERS,
NET

The advances to suppliers, net consisted
of the following:

SCHEDULE
OF ADVANCES TO SUPPLIERS

    December 31, 2024  
    June 30, 2024 

    Advances to suppliers 
    $21,669,191  
    $10,132,190 
  
    Less: allowance for doubtful accounts 
     (1,441,757) 
     (111,483)
  
    Advance to suppliers, net 
    $20,227,434  
    $10,020,707 

Advances to suppliers consist of mainly
payments to suppliers for raw materials or products that have not been received.

    19

Movement of allowance for doubtful accounts
is as follows:

SCHEDULE
OF MOVEMENT OF ALLOWANCE FOR DOUBTFUL ACCOUNTS ON ADVANCES TO SUPPLIERS

    December 31, 2024  
    June 30, 2024 

    Beginning balance 
    $111,483  
    $10,167,448 
  
    Acquisition of subsidiaries 
     -