Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 115

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 115
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520 in the same period in 2024. The decrease in net other income was mainly attributable to other income recognized when certain
payables were waived by the creditors during the nine months ended March 31, 2025 as well as decreased rental income and government
subsidies received during the nine months ended March 31, 2025.

Amortization of Debt Issuance and Other Costs

For the nine
months ended March 31, 2025, our amortization of debt issuance and other costs expenses was US$482,664, representing a decrease
of US$129,408, or 21.14%, as compared to amortization of debt issuance and other costs expenses of US$612,072 for the same period in 2024.
The decrease was mainly due to the decreased extension fee to be amortized during the nine months
ended March 31, 2025 as compared to the same period last year, as our balance of the convertible note decreased, our extension
fee decreased when we signed extension amendments with the investor to extend the maturity date of the convertible notes.

61

Interest Expenses, Net

For the nine
months ended March 31, 2025, our net interest expenses were US$318,001, representing a decrease of US$452,897, or 58.75%, as
compared to net interest expenses of US$770,898 in the same period in 2024. The decrease in net interest expenses was mainly
attributable to the increased interest income generated from loans to third parties and decreased interest expense for convertible
notes as a result of the decreased balance of the convertible note, which was partially offset by the increased interest expense
accrued for outstanding amount payable in related to the Company’s legal case, see more details in “Off-Balance Sheet
Commitments and Arrangements”.

Net Loss from Continuing Operations

Our net loss from continuing operations was US$5,584,281
for the nine months ended March 31, 2025, a decrease of US$3,029,619, or 35.17%, from net
loss from continuing operations of US$8,613,900 in the same period in 2024. The decrease in net loss from continuing operations was primarily
a result of the decrease in general and administrative expenses and interest expenses.

Net Income from Discontinued Operations

As mentioned above, the Company’s Luobuma, Agricultural
Products and Freight Services business segments that are operated by