Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 192

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 192
---
31, 2024, a decrease of US$3,721,415, or 43.43%,
from net loss from continuing operations of US$8,569,226 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. We had a total net income from discontinued operations of nil and US$8,855,247
for the six months ended December 31, 2024 and 2023, respectively.

55

The
summarized operating results of our discontinued operations included in our unaudited condensed consolidated statement of income (loss)
and comprehensive income (loss) is as follows:

    Six Months Ended December 31, 

    2024  
    2023 
  
    Revenue 
    $-  
    $4,439 
  
    Cost of revenue 
     -  
     4,183 
  
    Gross profit 
     -  
     256 
  
    Operating expenses 
     -  
     69,980 
  
    Other income, net 
     -  
     20,269 
  
    Loss before income tax 
     -  
     (49,455)
  
    Provision for income tax 
     -  
     - 
  
    Net loss from discontinued operations 
    $-  
    $(49,455)
  
    Income on disposal of discontinued operations 
     -  
     8,904,702 
  
    Total net income from discontinued operations 
    $-  
    $8,855,247 

Net
Income (Loss)

Our
net loss was US$4,847,811 for the six months ended December 31, 2024, as compared to a net
income of US$286,021 for the same period in 2023. The increase in net loss was primarily a result of the decreased net income from discontinued
operation, partially offset by the decreased net loss from continuing operations, as discussed above.

Comprehensive
Income (Loss)

The