Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 201

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 201
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65.68%,
as compared to benefit for income taxes of US$706,562 in the same period in 2023. During the three months ended December 31, 2023, we
recorded deferred income tax benefit upon recognition of deferred tax assets derived from the net operating loss carry-forwards by Wintus.
However, these deferred tax assets were fully allowanced off during the three months ended December 31, 2024, as the management believe
it is more likely than not that its deferred tax assets derived from the net operating loss carried forward could not be realized due
to uncertainty on future earnings. Hence, resulted in a decreased benefit for income tax during the three months ended December 31, 2024
as compared to the same period last year.

Net
Loss from Continuing Operations

Our
net loss from continuing operations was US$2,289,683 for the three months ended December 31, 2024, a decrease of US$2,766,420, or 54.71%,
from net loss from continuing operations of US$5,056,103 in the same period in 2023. The decrease in net loss from continuing operations
was primarily a result of the decrease in general and administrative expenses.

Net
Income from Discontinued Operations

As
mentioned above, due to the acquisition of Wintus mentioned above, the Company’s Luobuma, Agricultural Products and Freight Services
business segments, that are operated by the Tenet-Jove Disposal Group, are reclassified as discontinued operations on the Company’s
unaudited condensed consolidated financial statements. Net income from discontinued operations were both nil for the three months ended
December 31, 2024 and 2023.

Net
Loss

Our
net loss was US$2,289,683 for the three months ended December 31, 2024, as compared to a
net loss of US$5,056,103 for the same period in 2023. The decrease in net loss was a result of the decreased net loss from continuing
operations, as discussed above.

60

Comprehensive
Loss

The
comprehensive loss was US$2,482,975 for the three months ended December 31, 2024, a decrease
of US$ 2,532,738 from a comprehensive loss of US$5,015,713 for the three months ended December 31,
2023. After the deduction of non-controlling interest, the comprehensive loss