Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 42

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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10,132,190 
  
    Less: allowance for doubtful accounts 
     (5,249,870) 
     (111,483)
  
    Advance to suppliers, net 
     19,080,610  
     10,020,707 
  
    Less: advance to supplier, net, held for discontinued operations 
     (19,079,599) 
     (9,986,844)
  
    Advance to supplier, net, held for continuing operations 
    $1,011  
    $33,863 

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

Movement of allowance for doubtful accounts is as
follows:

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

    March 31, 2025  
    June 30, 2024 

    Beginning balance 
    $111,483  
    $10,167,448 
  
    Acquisition of subsidiaries 
     -  
     6,385 
  
    Charge to allowance 
     5,173,172  
     102,514 
  
    Less: disposal of VIEs 
     -  
     (10,325,224)
  
    Foreign currency translation adjustments 
     (34,785) 
     160,360 
  
    Ending balance 
    $5,249,870  
    $111,483 

    20

NOTE 7 – OTHER CURRENT ASSETS, NET

Other current assets, net consisted of the following:

SCHEDULE
OF OTHER CURRENT ASSETS 

    March 31, 2025  
    June 30, 2024 

    Loans to third parties (1) 
    $10,227,757  
    $9,445,164 
  
    Other receivables (2) 
     3,755,950  
     2,464,188 
  
    Prepayment for business acquisition (3) 
     2,630,000  
     - 
  
    Short-term deposits 
     44,152  
     39,966 
  
    Prepaid expenses 
     51,408  
     1,658 
  
    Subtotal 
     16,709,267  
     11,950,976