Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 199

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 199
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.37)%
  
    Selling expenses 
     70,735  
     2.56% 
     84,362  
     1.48% 
     (13,627) 
     (16.15)%
  
    Research and development expenses 
     25,697  
     0.93% 
     22,218  
     0.39% 
     3,479  
     15.66%
  
    Total Amount 
    $2,760,055  
     100.00% 
    $5,698,490  
     100.00% 
    $(2,938,435) 
     (51.57)%

General
and Administrative Expenses

For
the three months ended December 31, 2024, our general and administrative expenses were US$2,663,623, representing a decrease of US$2,928,287,
or 52.37%, as compared to the same period in 2023. The decrease was mainly due to the decreased expenses of US$3,024,000 as a result
of the forgiveness of the subscription receivable upon settlement of the Company’s legal case, see more details in “Off-Balance
Sheet Commitments and Arrangements”. The decrease was partially offset by the increased allowance for credit losses and doubtful
accounts of approximately US$369,000.

Selling
Expenses

For
the three months ended December 31, 2024, our selling expenses were US$70,735, representing a decrease of US$13,627, or 16.15%, as compared
to the same period in 2023. The decrease was mainly due to the implementation of cost control measurements, as we reduced the number
of sales personnel and cut down the spending on selling activities during the three months ended December 31, 2024.

Research
and Development Expenses

For
the three months ended December 31, 2024, our research and development expenses were US$25,697, which remained relatively stable with
a slight increase of US$3,479, or 15.66%, as compared to the same period in 2023.

Gain
from disposal of a subsidiary

On
November 20, 2024, the Company entered into an agreement to transfer 100% equity interests in Chongshi to a third party as payment for
a loan. See Note