Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 186

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 2
Chunk 186
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    Total Amount 
    $5,223,456  
     100.00% 
    $3,952,759  
     100.00% 
    $1,270,697  
     32.15%

For
the six months ended December 31, 2024 and 2023, revenue from sales of rapid diagnostic and other products was US$217,120 and US$299,122,
respectively, representing a decrease of US$82,002, or 27.41%. The decrease was mainly due to a decline in orders we received from our
customers during the six months ended December 31, 2024.

52

For
the six months ended December 31, 2024 and 2023, revenue from sales of other agricultural products was US$5,005,387 and US$3,642,533,
respectively, representing an increase of US$1,362,854, or 37.42%. The increase was mainly due to increased sales of fresh fruits during
the six months ended December 31, 2024. During the six months ended December 31, 2023, we were in the process of obtaining relevant approvals
from customs authority, hence, we were unable to import fresh fruits from overseas. After gaining the approvals, we started to import
fresh fruits from overseas, and our sales of fresh fruits increased during the six months ended December 31, 2024. The increase was also
because we had six months of revenue during the six months ended December 31, 2024 as compared to five months of revenue during the same
period last year as we completed the acquisition of Wintus on July 31, 2023.

For
the six months ended December 31, 2024 and 2023, revenue from sales of healthy meal products was US$949 and US$11,104, respectively,
representing a decrease of US$10,155, or 91.45%. Due to the low market acceptance and high store maintenance cost, we incurred substantial
losses in this business segment. Therefore, the management decided to temporarily suspend healthy meal products business, and revenue
from sales of healthy meal products decreased during the six months ended December 31, 2024.

Cost
of Revenue and Related Tax

The
following table sets forth the breakdown of the cost of revenue for the six months ended December 31, 2024 and 2023,