Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 121

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 121
---
 the three months ended March 31, 2025 as
compared to the same period in 2024. The decrease in gross profit was due to the decrease in sales as well as the increase in stock written
off as mentioned above during the three months ended March 31, 2025.

63

Gross loss from sales of healthy meal products decreased
by US$17,192, or 100.00%, for the three months ended March 31, 2025 as compared to the same
period in 2024. As mentioned above, the management decided to temporarily suspend healthy meal products business to avoid further losses,
hence, gross loss decreased during the three months ended March 31, 2025 as compared to the
same period last year.

Expenses

The following table sets forth the breakdown of our
operating expenses for the three months ended March 31, 2025 and 2024, respectively:

    Three Months Ended March 31,  
    Variance 

    2025  
    %  
    2024  
    %  
    Amount  
    % 
  
    General and administrative expenses 
    $3,710,940  
     99.05% 
    $1,081,331  
     92.07% 
    $2,629,609  
     243.18%
  
    Selling expenses 
     20,113  
     0.54% 
     61,216  
     5.21% 
     (41,103) 
     (67.14)%
  
    Research and development expenses 
     15,487  
     0.41% 
     31,895  
     2.72% 
     (16,408) 
     (51.44)%
  
    Total Amount 
    $3,746,540  
     100.00% 
    $1,174,442  
     100.00% 
    $2,572,098  
     219.01%

General and Administrative Expenses

For the three months ended March
31, 2025, our general and administrative expenses were US$3,710,940, representing an increase of US$2,629,609, or 243.18%, as compared
to the same period in 2024. The increase was mainly due to increased compensation