Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 105

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 105
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 in sales of other agricultural products during
the six months ended December 31, 2024.

Gross
profit from sales of healthy meal products increased by US$9,042, or 108.39%, for the six months ended December 31, 2024 as compared
to the same period in 2023. As mentioned above, the management decided to temporarily suspend healthy meal products business to avoid
further losses, hence, gross profit increased during the six months ended December 31, 2024 as compared to the same period last year.

Expenses

The
following table sets forth the breakdown of our operating expenses for the six months ended December 31, 2024 and 2023, respectively:

    Six Months Ended December 31,  
    Variance 

    2024  
    %  
    2023  
    %  
    Amount  
    % 
  
    General and administrative expenses 
    $5,300,198  
     97.39% 
    $8,851,375  
     98.03% 
    $(3,551,177) 
     (40.12)%
  
    Selling expenses 
     102,976  
     1.89% 
     132,195  
     1.46% 
     (29,219) 
     (22.10)%
  
    Research and development expenses 
     39,115  
     0.72% 
     45,916  
     0.51% 
     (6,801) 
     (14.81)%
  
    Total Amount 
    $5,442,289  
     100.00% 
    $9,029,486  
     100.00% 
    $(3,587,197) 
     (39.73)%

General
and Administrative Expenses

For
the six months ended December 31, 2024, our general and administrative expenses were US$5,300,198, representing a decrease of US$3,551,177,
or 40.12%, as compared to the same period in 2023. The decrease was mainly due to the decreased expenses of US$3,024,000 as a result
of the forgiveness of the subscription receivable upon settlement of the Company’s legal case, see more details in “Off-Balance
Sheet