Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 90

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 90
---
(262.8)% 
     10.0% 
     -  
     14.2%

Total assets as of March 31, 2025 and June 30, 2024
were as follows:

    March 31, 2025  
    June 30, 2024 

    Other agricultural products 
    $72,905,256  
    $70,339,148 
  
    Rapid diagnostic and other products 
     12,562,560  
     13,750,630 
  
    Healthy meals products 
     34,729  
     89,601 
  
    Total assets 
     85,502,545  
     84,179,379 
  
    Less: total assets held for discontinued operations 
     (60,936,613) 
     (62,678,986)
  
    Total assets, held for continuing operations 
    $24,565,932  
    $21,500,393 

NOTE 20 - DISCONTINUED OPERATIONS

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 “Wintus Acquisition”). As the consideration
for the Wintus 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.

On March 20, 2025, Shineco Life entered into a stock
purchase agreement (the “SPA”) with Yi Yang (the “Seller”), a current and only shareholder of FuWang (HK) International
Company Limited (“FuWang (HK)”), a company limited by shares incorporated in Hong Kong. Pursuant to the SPA, the Seller sold
75% of the equity interests in FuWang (HK) (“Fu