Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 43

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 43
---
 
  
    Less: allowance for credit losses 
     (4,328,478) 
     (4,656,522)
  
    Total other current assets, net 
     12,380,789  
     7,294,454 
  
    Less: other current assets, net, held for discontinued operations 
     (248,218) 
     (378,403)
  
    Other current assets, net, held for continuing operations 
    $12,132,571  
    $6,916,051 

    1)
    Loans to third-parties are mainly used for short-term funding to support the Company’s external business partners or employees of the Company. These loans bear interest or no interest and have terms of no more than one year. As of March 31, 2025, loans that amounted to US$688,642 were carried forward from fiscal year 2023. On September 20, 2023, the Company lent a loan amounting to US$103,336 to a third party for one year, with a maturity date of September 19, 2024. The loan was extended for one year upon maturity. On December 31, 2023, the Company lent a loan amounting to US$1,428,517 to two third parties for one year, with a maturity date of December 30, 2024. On May 28, 2024, the Company lent a loan amounting to US$2,755,626 to a third party for one year, with a maturity date of May 27, 2025. On June 5, 2024, the Company lent a loan amounting to US$4,092,104 to a third party for one year, with a maturity date of June 4, 2025. For loans entered on May 28, 2024 and June 5, 2024, the Company entered into Debt Transfer Agreements with the borrowers (the “Original Borrowers”) and another third party (the “New Borrower”) on August 20, 2024, pursuant to which the Original Borrowers transferred all their debts to the New Borrower, and the New Borrower agreed to fulfil its repayments obligation to the Company in accordance with the term of the original loan agreements. On July 24, 2024 and September 18, 2024, the Company lent loans amounting to US$110,225 and