Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 20

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 20
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ayuan Medicine Information Consulting Co., Ltd., a company established under the laws of China (“Seller”),
Biowin, the Company and Shineco Life. As the consideration for the acquisition, the Company paid to Seller US$9,000,000 in cash and the
Company issued 13,583 shares of the Company’s common stock, par value US$0.001 per share, to the equity holders of Biowin or any
persons designated by Biowin. According to the Supplementary Agreement, dated as of December 30, 2022, by and among Shineco Life, the
Seller and Biowin, the Seller owned 51% of the issued equity interests of Biowin before January 1, 2023, and transferred the 51% of the
issued equity interests of Biowin together with its controlling rights of production and operation of Biowin to Shineco Life on January
1, 2023.

On May 29, 2023, Shineco Life entered
into a stock purchase agreement with Dream Partner Limited, a BVI corporation (“Dream Partner”), Chongqing Wintus Group,
a corporation incorporated under the laws of mainland China (“Wintus”), and certain shareholders of Dream Partner (the “Wintus
Sellers”), pursuant to which Shineco Life shall acquire 71.42% equity interest in Wintus (the “Acquisition”). As the
consideration for the Acquisition, the Company (a) paid the Wintus Sellers an aggregate cash consideration of US$2,000,000; (b) issued
certain shareholders, as listed in the agreement, an aggregate of 41,667 shares of the Company’s restricted Common Stock; and (c)
transferred and sold to the Wintus Sellers 100% of the Company’s equity interest in Tenet-Jove.

The Company, through its subsidiaries,
currently operates three main business segments: 1) Biowin specializes in the development, production and distribution of innovative
rapid diagnostic products and related medical devices for the most common diseases (“Rapid Diagnostic and Other Products”);
2) Wintus is engaged in producing, processing and distribution of agricultural products, such as silk and silk fabrics as well as trading
of fresh fruit; and (3) Fuzhou Meida operates a health-oriented chain restaurant that specializes in developing healthy meals for people
with slow metabolic health and those in recovery from metabolic disorders. Due to the Acquisition mentioned above, the