Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 41

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 41
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215,114 
  
    Less: accounts receivable, net held for discontinued operations 
     (1,677,590) 
     (1,214,757)
  
    Accounts receivable, net held for continuing operations 
    $317  
    $357 

Movement of allowance for credit losses is as follows:

SCHEDULE
OF MOVEMENT OF ALLOWANCE FOR DOUBTFUL ACCOUNTS

    March 31, 2025  
    June 30, 2024 

    Beginning balance 
    $1,356,873  
    $8,153,850 
  
    Acquisition of subsidiaries 
     -  
     173,101 
  
    Charge to allowance 
     176,020  
     118,499 
  
    Less: disposal of VIEs 
     -  
     (7,195,304)
  
    Foreign currency translation adjustments 
     601  
     106,727 
  
    Ending balance 
    $1,533,494  
    $1,356,873 

    19

NOTE 5 – INVENTORIES, NET

The inventories, net consisted of the following:

SCHEDULE
OF INVENTORIES, NET

    March 31, 2025  
    June 30, 2024 

    Raw materials 
    $213,444  
    $290,152 
  
    Work-in-process 
     156,562  
     338,902 
  
    Finished goods 
     860,300  
     989,914 
  
    Less: inventory reserve 
     -  
     (30,443)
  
    Total inventories, net 
     1,230,306  
     1,588,525 
  
    Less: inventories, net, held for discontinued operations 
     (1,025,836) 
     (1,308,556)
  
    Inventories, net, held for continuing operations 
    $204,470  
    $279,969 

NOTE 6 – ADVANCES TO SUPPLIERS, NET

The advances to suppliers, net consisted of the following:

SCHEDULE
OF ADVANCES TO SUPPLIERS

    March 31, 2025  
    June 30, 2024 

    Advances to suppliers 
    $24,330,480  
    $