Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 95

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 95
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-  
     8,904,702  
     -  
     - 

    NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS 
     (15,874,674) 
     4,531,193  
     (12,529,001) 
     (2,845,113)

    Net loss attributable to non-controlling interest 
     (2,190,870) 
     (1,222,290) 
     (1,307,492) 
     (843,243)

    NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO SHINECO, INC. 
    $(13,683,804) 
    $5,753,483  
    $(11,221,509) 
    $(2,001,870)

NOTE 21 - SUBSEQUENT EVENTS

On April 22, 2025, Shineco Life entered into a
share purchase agreement (the “SPA”) with Dr. Lim Kah Meng (the “Seller”), the sole shareholder of
InfiniClone Limited, a company incorporated under the laws of Hong Kong (“InfiniClone”). Pursuant to the SPA, the Seller
shall sell 51% of the equity interests in InfiniClone Limited that he holds (the “InfiniClone Shares”) to Shineco Life.
In consideration of the sale of the InfiniClone Shares, Shineco Life shall pay the Seller US$19,895,600 in cash, and the Company
will issue and transfer 3,450,000 shares of the Company’s common stock, par value $0.001 per share to the Seller within 90 days after the execution of the SPA. The transaction contemplated thereby and the issuance of the Shares has been approved by the Company’s board of
directors, and the acquisition is expected to be completed in May 2025.

These unaudited condensed consolidated financial
statements were approved by management and available for issuance on May 15, 2025, and the Company has evaluated subsequent events through
this date. No subsequent events required adjustments to or disclosure in these unaudited condensed consolidated financial statements.

50

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITIONS AND RESULTS OF OPERATIONS

Forward-Looking Statements

This Quarterly Report on Form 10-Q (the “Quarterly
Report”) contains “forward-looking