Company: SISI
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001493152-25-006895
Chunk: 56

Company: SHINECO, INC.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 56
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in net sales and US$3,345,672 in net loss of Wintus were included in the unaudited condensed consolidated financial statements for the
six months ended December 31, 2024. US$2,953,916 in net sales and US$1,957,176 in net loss of Wintus were included in the unaudited condensed
consolidated financial statements for the three months ended December 31, 2024. US$3,642,533 in net sales and US$1,138,402 in net
loss of Wintus were included in the unaudited condensed consolidated financial statements for the six months ended December 31, 2023.
US$2,131,803 in net sales and US$1,979,110 in net loss of Wintus were included in the unaudited condensed consolidated financial
statements for the three months ended December 31, 2023.

NOTE 12 - RELATED PARTY TRANSACTIONS

Due from Related Parties, Net

The Company has made temporary advances
to certain stockholders and senior management of the Company and to other entities that are either owned by family members of those stockholders
or to other entities that the Company has investments in. The receivable are non-interest bearing and due on demand.

As of December 31, 2024 and June 30,
2024, the outstanding amounts due from related parties consisted of the following:

SCHEDULE OF DUE FROM RELATED PARTIES

    December 31, 2024  
    June 30, 2024 

    Chongqing Yufan Trading Co., Ltd (“Chongqing Yufan”) 
    $239,191  
    $318,041 
  
    Chongqing Dream Trading Co., Ltd 
     41,105  
     41,280 
  
    Wintus China Limited 
     412,379  
     412,379 
  
    Fujian Xinglinchun Health Industry Co., Ltd 
     24,320  
     24,424 
  
    Subtotal 
     716,995  
     796,124 
  
    Less: allowance for credit losses 
     (412,379) 
     (412,379)
  
    Total due from related parties, net 
    $304,616  
    $383,745 

    28

Due to Related Parties

As