Company: SISI
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001641172-25-010889
Chunk: 65

Company: SHINECO, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 65
---
 Company’s properties with net book values of US$596,503 were pledged as collateral to secure this loan.

    34

    Lender 
    June 30, 2024  
    Maturity Date 
    Int. Rate/Year 
  
    Jiangnan Rural Commercial Bank(a) 
    $412,800  
    2025/5/21 
     4.65%
  
    Bank of Jiangsu(b) 
     405,369  
    2025/1/20 
     4.00%
  
    Bank of China(c) 
     405,920  
    2024/6/26 
     4.90%
  
    United Overseas Bank(d) 
     9,536,508  
    July 2024 - December 2024 
     4.20%
  
    Industrial and Commercial Bank of China 
     412,800  
    2025/06/20 
     3.75%
  
    Industrial and Commercial Bank of China(e) 
     619,199e 
    2024/9/22 
     3.45%
  
    Bank of China(f) 
     412,800  
    2025/2/7 
     3.45%
  
    Chongqing Rural Commercial Bank(g) 
     1,307,199  
    2025/3/18 
     4.30%
  
    Total short-term bank loans 
     13,512,595  

    Less: short-term bank loans, held for discontinued operations 
     (12,288,506) 

    Short-term bank loans, held for continuing operations 
    $1,224,089  

The loans outstanding were guaranteed by the following
properties, entities or individuals:

    a.
    Guaranteed by Mr. Liu Fengming, the former CEO of the Company, Beijing Kanghuayuan Technology, one of the shareholders of the Company and pledged by the patent rights of the Company.

    b.
    The Company did not repay
    the loan upon maturity, Bank of Jiangsu commenced a lawsuit against the Company’s subsidiary,
    Biowin. (see Note 18).

    c.
    Guaranteed by Mr. Liu Fengming, the former CEO of the Company, and his wife, Ms. Liang Jie. Upon the maturity of the loan, the bank offered the Company an extension