Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 99

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 99
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 the FuWang Acquisition, (a)
Shineco Life paid the Seller RMB 63.89 million in cash, (b) the Company issued and transferred 3,400,000 shares of the Company’s
common stock, par value $0.001 per share to the Seller, and (c) the Company transferred its 71.42% equity interests in Wintus to the Seller.
The Company obtained the controlling rights of production and operation of FuWang (HK) on April 1, 2025.

We used our subsidiaries’ vertically and horizontally
integrated production, distribution, and sales channels to provide health and well-being focused plant-based products. Through our subsidiary,
Biowin, which specializes in the development, production and distribution of innovative rapid diagnostic products and related medical
devices for the most common diseases, we also stepped into the Point-of-Care Testing industry. Meanwhile, our subsidiary, Fuzhou Meida,
opened its restaurant, which is a health-oriented chain restaurant that focuses on the concept of “improving metabolism through
diet.” As of March 31, 2025, the Company, through its subsidiaries, operates the following main business segments:

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Developing, producing and distributing innovative
rapid diagnostic products and related medical devices for the most common diseases (“Rapid diagnostic and other products”):
- This segment is conducted through Biowin, which specializes in the development, production and distribution of innovative rapid diagnostic
products and related medical devices for the most common diseases. The operations of this segment are located in Jiangsu Province. Its
products are sold not only in China, but also overseas countries such as Germany, Spain, Italy, Thailand, Japan and other countries.

Developing and selling healthy meals for people
with slow metabolic health and those in recovery from metabolic disorders (“Healthy meals products”): – This
segment is conducted through Fuzhou Meida, which specializes in developing healthy meals for people with slow metabolic health and those
in recovery from metabolic disorders. Fuzhou Meida recently opened its restaurant in Fuzhou city, Fujian Province. The restaurant features
an open kitchen and adopts a modern Chinese style, offering a variety of modern Chinese healthy light meals and metabolism-boosting meal
sets. The Company plans to gradually establish additional branches in key cities across China, including Beijing, Shanghai, Guangzhou,
and other southeastern coastal regions.

Tenet-Jove Disposal Group conducts three other business
segments. First, developing, manufacturing, and