Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 19

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 19
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 Research Co., Ltd. (“Life Science”) as a wholly foreign-owned entity with registered capital of US$10.0
million.

On April 13, 2022, the Company established
Shineco Life Science Group Hong Kong Co., Limited (“Shineco Life”) as a wholly owned entity with registered capital of US$10.0
million. On April 24, 2022, the Company entered into a Share Transfer Agreement with Shineco Life. Pursuant to the agreement, the Company
transferred its 100% of the equity interest of Life Science to Shineco Life. There was no consideration paid for the transfer, and after
the transfer, Life Science became a wholly-owned subsidiary of Shineco Life.

On May 16, 2023, Fuzhou Meida Health
Management Co., Ltd (“Fuzhou Meida”), formerly known as Pangke Planet (Fuzhou) Health Management Co., Ltd, was established
with registered capital of RMB1.0 million (approximately US$0.1 million). Life Science owned an equity interest of 51% of Fuzhou Meida,
and the remaining 49% equity interests was owned by two shareholders.

On May 16, 2023, Shinkang Technology
(Jiangsu) Co., Ltd (“Shinkang”) was established with registered capital of RMB10.0 million (approximately US$1.4 million).
Life Science owned an equity interest of 51% of Shinkang, and the remaining 49% equity interests was owned by one shareholder. Shinkang
is currently not engaging in any active business operations.

On May 23, 2023, Life Science established
Beijing Shineco Chongshi Information Consulting Co., Ltd (“Chongshi”) as a wholly owned entity with registered capital of
RMB0.1 million (approximately US$0.01 million). On November 20, 2024, the Company entered into an agreement to transferred 100% equity
interests in Chongshi to a third party. See Note 8.

    7

On December 30, 2022, Shineco Life closed
the acquisition of 51% of the issued equity interests of Changzhou Biowin Pharmaceutical Co., Ltd. (“Biowin”), a company
established under the laws of China, pursuant to the previously announced stock purchase agreement, dated as of October 21, 2022, among
Beijing Kanghu