Company: SISI
Filing Date: 2025-03-13
Form Type: S-1/A
Source: 0001493152-25-010206
Chunk: 13

Company: SHINECO, INC.
Filing Date: 2025-03-13
Form: S-1/A
Chunk 13
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 13(a), 13(c), 14, or 15(d) of the Exchange Act. You should not rely upon forward-looking statements as predictions of future events.

The forward-looking statements included in this prospectus speak only as of the date of this prospectus. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee that future results, levels of activity, performance and events and circumstances reflected in the forward-looking statements will be achieved or will occur. Except as required by law, we assume no obligation to update or revise these forward-looking statements for any reason, even if new information becomes available in the future. You should, however, review the factors and risks we describe in the reports we will file from time to time with the SEC after the date of this prospectus. See “Where You Can Find More Information.”

Our reporting currency is the U.S. dollars (“US$”). The functional currency of our subsidiaries located in China and the former VIEs is the RMB. For the entities whose functional currency is the RMB, results of operations and cash flows are translated at average exchange rates during the period, assets and liabilities are translated at the unified exchange rate at the end of the period, and equity is translated at historical exchange rates. As a result, amounts relating to assets and liabilities reported on the statements of cash flows may not necessarily agree with the changes in the corresponding balances on the balance sheets. Translation adjustments resulting from the process of translating the local currency financial statements into US$ are included in determining comprehensive income/loss. Transactions denominated in foreign currencies are translated into the functional currency at the exchange rates prevailing on the transaction dates. Assets and liabilities denominated in foreign currencies are translated into the functional currencies at the exchange rates prevailing at the balance sheet date with any transaction gains and losses that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the results of operations as incurred.

On February 2, 2024, our stockholders approved a 1-for-10 reverse stock split of the shares (the “February 2024 Reverse Stock Split”) of our common stock, with a par value of $0.001 per share, which became effective on February 16, 2024. As a result of the February 2024 Reverse Stock Split, each of the ten pre-split shares of common stock outstanding were automatically combined and converted to one issued and outstanding share of common stock without any action on the part of the stockholders.

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