SECURITIES AND EXCHANGE COMMISSION			Washington, D.C. 20549			Form 10-QSB

[X]       QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE 			             SECURITIES EXCHANGE ACT OF 1934

            For Quarter ended June 30, 2005

[_]        TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE 			             SECURITIES EXCHANGE ACT OF 1934

            For the transition period from __________ to ________________

Commission File No. 0-32307				SHINECO, INC.				(Exact Name of registrant as specified in its charter)				Delaware                                                                      52-2175898				(State or other jurisdiction                                             (IRS Employer ID Number)				of incorporation or organization)                                                                                           				515 Madison Avenue, New York, NY  10022				(Address of principal executive offices)				(212) 755-3631				(Issuer's Telephone Number)

INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS.				Yes         X                            No ________				As of August 15, 2005, the issuer had 9,298,823 shares of Common Stock, par value $.001 per share, issued and outstanding.

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Forward-Looking Statements

This Form 10-QSB includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical facts, included or incorporated by reference in this Form 10-QSB which address 

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2

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SHINECO, INC.				UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS				FOR THE THREE AND SIX MONTH PERIODS ENDED				JUNE 30, 2005

3

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SHINECO, INC.				INDEX TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS				JUNE 30, 2005
|                                                                            | PAGE   |
|----------------------------------------------------------------------------|--------|
| CONSOLIDATED BALANCE SHEET (UNAUDITED)                                     | 5      |
| CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (UNAUDITED) | 6      |
| CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)          | 7      |
| CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)                          | 8      |
| NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS                       | 9 - 15 |

4

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SHINECO, INC.				CONSOLIDATED BALANCE SHEET (UNAUDITED)

|                                                                                                                                                                              |                  |  June 30,                                                                                                                    |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|------------------|----------------------------------------------------------------------------------------------------------------------------------------|
| ASSETS                                                                                                                                                                       |  2005  |
| Current assets                                                                                                                                                               |                  |                                                                                                                                        |
|       Cash and cash equivalents                                                                                                                |                  |  $           46,273                                                             |
|       Trade receivables, net                                                                                                                   |                  |          1,188,178                                                                             |
|       Other receivables                                                                                                                        |                  |             473,251                                                             |
|       Vendor deposits                                                                                                                          |                  |               95,985                                                  |
|       Prepaid expenses                                                                                                                         |                  |               87,426                                                  |
|       Inventories                                                                                                                              |                  |          2,396,373                                                                             |
|             Total current assets                                                                                 |                  |          4,287,486                                                                             |
|                                                                                                                                                                              |                  |                                                                                                                                        |
| Property, plant and equipment, net                                                                                                                                           |                  |             100,526                                                             |
| Intangibles, net                                                                                                                                                             |                  |               19,569                                                  |
|                                                                                                                                                                              |                  |                                                                                                                                        |
|             Total assets                                                                                         |                  |  $      4,407,581                                                                                        |
|                                                                                                                                                                              |                  |                                                                                                                                        |
| LIABILITIES AND STOCKHOLDERS' EQUITY                                                                                                                                         |                  |
|                                                                                                                                                                              |                  |                                                                                                                                        |
| Current liabilities                                                                                                                                                          |                  |                                                                                                                                        |
|       Trade payables                                                                                                                           |                  |  $      1,025,548                                                                                        |
|       Accrued liabilities                                                                                                                      |                  |             100,990                                                             |
|       Other payables                                                                                                                           |                  |          1,343,893                                                                             |
|       Taxes payable                                                                                                                            |                  |               17,693                                                  |
|       Customer deposits                                                                                                                        |                  |             201,186                                                             |
|             Total current liabilities                                                                            |                  |          2,689,310                                                                             |
|                                                                                                                                                                              |                  |                                                                                                                                        |
| Minority interest                                                                                                                                                            |                  |               90,596                                                  |
|                                                                                                                                                                              |                  |                                                                                                                                        |
| Commitments and contingencies                                                                                                                                                |                  |                                                                                                                                        |
|                                                                                                                                                                              |                  |                                                                                                                                        |
| Stockholders' equity                                                                                                                                                         |                  |                                                                                                                                        |
|       Preferred stock: par value $.001; 5,000,000 shares authorized;       no shares issued and outstanding      |                  |                        - |
|       Common stock: par value $.001; 25,000,000 shares authorized;       9,298,823 shares issued and outstanding |                  |                 9,299                                       |
|       Additional paid in capital                                                                                                               |                  |          1,079,908                                                                             |
|       Retained earnings                                                                                                                        |                  |             538,468                                                             |
|       Accumulated other comprehensive income                                                                                                   |                  |                        - |
|                                                                                                                                                                              |                  |                                                                                                                                        |
| Total stockholders' equity                                                                                                                                                   |                  |          1,627,675                                                                             |
|                                                                                                                                                                              |                  |                                                                                                                                        |
| Total liabilities and stockholders' equity                                                                                                                                   |                  |  $      4,407,581                                                                                        |
|                                                                                                                                                                              |                  |                                                                                                                                        |

See notes to unaudited consolidated financial statements				5

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SHINECO, INC.				CONSOLIDATED STATEMENTS OF OPERATIONS				AND COMPREHENSIVE INCOME (UNAUDITED)

|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|--------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|                                                                                                  | Three months ended                                                                                                                                 | Six months ended                                                                                                                                   |
|                                                                                                  |  June 30,                                                                                                                                |  June 30,                                                                                                                                |
|                                                                                                  |  2005                                                                                                                                    |  2004                                                                                                                                    |  2005                                                                                                                                    |  2004                                                                                                                                    |
| Revenues                                                                                         |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|       Sales revenues                                               |  $           459,126                                                                        |  $           631,351                                                                        |  $        1,256,514                                                                                        |  $        1,553,719                                                                                        |
|       Cost of goods sold                                           |               261,656                                                             |                 51,180                                                  |               602,287                                                             |               477,303                                                             |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|             Gross profit             |               197,470                                                             |               580,171                                                             |               654,227                                                             |            1,076,416                                                                             |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Operating expenses                                                                               |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|       Other selling expenses                                       |               108,008                                                             |               224,984                                                             |               267,148                                                             |               382,241                                                             |
|       Other general and adminstrative expenses                     |               168,122                                                             |               264,898                                                             |               332,729                                                             |               349,623                                                             |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|             Total operating expenses |               276,130                                                             |               489,882                                                             |               599,877                                                             |               731,864                                                             |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Net operating income                                                                             |               (78,660)                                                            |                 90,289                                                  |                 54,350                                                  |               344,552                                                             |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|       Other income (expense)                                       |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|             Interest expense         |                 (6,893)                                                 |               (30,489)                                                            |               (29,354)                                                            |               (30,489)                                                            |
|             Other                    |                      316                       |               (28,695)                                                            |                      551                       |               (28,602)                                                            |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|       Total other income (expense)                                 |                 (6,577)                                                 |               (59,184)                                                            |               (28,803)                                                            |               (59,091)                                                            |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Income before taxes and minority interest                                                        |               (85,237)                                                            |                 31,105                                                  |                 25,547                                                  |               285,461                                                             |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Provision for income taxes                                                                       |                        -   |                   1,347                                       |                 (1,007)                                                 |                        -   |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Income before minority interest                                                                  |               (85,237)                                                            |                 32,452                                                  |                 24,540                                                  |               285,461                                                             |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Minority interest in loss (income) of subsidiaries                                               |                      837                       |                 (8,897)                                                 |                      975                       |                 (9,261)                                                 |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Net income                                                                                       |  $           (84,400)                                                                       |  $             23,555                                                             |  $             25,515                                                             |  $           276,200                                                                        |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Foreign currency translation adjustment                                                          |                        -   |                        -   |                        -   |                        -   |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Comprehensive income                                                                             |  $           (84,400)                                                                       |  $             23,555                                                             |  $             25,515                                                             |  $           276,200                                                                        |
|                                                                                                  |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |

See notes to unaudited consolidated financial statements				6

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SHINECO, INC.				CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)				FOR THE PERIOD FROM JANUARY 1, 2005 TO JUNE 30, 2005
|                                                                                   |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|-----------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                   |                                                                                                                                                    |                                                                                                                                                    |  Additional                                                                                                                              |                                                                                                                                                    |  Other                                                                                                                                   |                                                                                                                                                    |
|                                                                                   |  Common Stock                                                                                                                            |  Paid In                                                                                                                                 |  Retained                                                                                                                                |  Comprehensive                                                                                                                           |                                                                                                                                                    |
|                                                                                   |  Shares                                                                                                                                  |  Amount                                                                                                                                  |  Capital                                                                                                                                 |  Earnings                                                                                                                                |  Income (Loss)                                                                                                                           |  Total                                                                                                                                   |
|                                                                                   |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Balance January 1, 2005                                                           |          18,597,640                                                                                        |  $             18,598                                                             |  $        1,070,609                                                                                        |  $           512,953                                                                        |  $                      -            |  $        1,602,160                                                                                        |
|                                                                                   |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                          - |
|       Retroactive effect of 1:2 reverse stock split |          (9,298,817)                                                                                       |                 (9,299)                                                 |                   9,299                                       |                          - |                          - |                          - |
|       Net income for the period                     |                          - |                          - |                          - |                 24,540                                                  |                          - |                 24,540                                                  |
|       Net loss - minority interest                  |                          - |                          - |                          - |                      975                       |                          - |                      975                       |
|                                                                                   |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
| Balance June 30, 2005                                                             |            9,298,823                                                                             |  $               9,299                                                  |  $        1,079,908                                                                                        |  $           538,468                                                                        |  $                      -            |  $        1,627,675                                                                                        |
|                                                                                   |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |
|                                                                                   |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |                                                                                                                                                    |

See notes to unaudited consolidated financial statements				7

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SHINECO, INC.				CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |  Six months ended                                                                                                      |
|--------------------------------------------------------------------------|---------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|----------------------------------------------------------------------------------------------------------------------------------|
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |  June 30,                                                                                                              |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |  2005                                                                                                                  |  2004  |
| Cash flows from operating activities:                                    |                                                                                             |                                                                                                                       |                                                                                                                                  |
|                                                                          | Net income                                                                                  |                                                                                                                       |  $         25,515                                                                   |  $       276,200                                                                              |
|                                                                          | Adjustments to reconcile net loss to                                                        |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |
|                                                                          |   net cash provided by (used in) operations:                                           |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |
|                                                                          |       Depreciation and amortization                           |                                                                                                                       |                                                                                                                                  |             12,377                                                        |               7,645 |
|                                                                          |       Minority interest                                       |                                                                                                                       |                                                                                                                                  |                 (975)                                 |           166,093 |
|                                                                          |       Changes in operating assets and liabilities:            |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
|                                                                          |             Trade receivables   |                                                                                                                       |                                                                                                                                  |             25,756                                                        |          (771,500) |
|                                                                          |             Other receivables   |                                                                                                                       |                                                                                                                                  |            (86,656)                                                            |            (37,470) |
|                                                                          |             Vendor deposits     |                                                                                                                       |                                                                                                                                  |             33,621                                                        |                     -   |
|                                                                          |             Prepaid expenses    |                                                                                                                       |                                                                                                                                  |            (30,955)                                                            |          (148,386) |
|                                                                          |             Inventories         |                                                                                                                       |                                                                                                                                  |            (90,863)                                                            |       (1,049,705) |
|                                                                          |             Trade payables      |                                                                                                                       |                                                                                                                                  |            (13,362)                                                            |           558,382 |
|                                                                          |             Accrued liabilities |                                                                                                                       |                                                                                                                                  |             67,915                                                        |             70,411 |
|                                                                          |             Other payables      |                                                                                                                       |                                                                                                                                  |        1,148,326                                                                                   |                     -   |
|                                                                          |             Taxes payable       |                                                                                                                       |                                                                                                                                  |            (69,842)                                                            |                     -   |
|                                                                          |             Customer deposits   |                                                                                                                       |                                                                                                                                  |          (208,759)                                                                       |           204,110 |
|                                                                          |       Net cash provided by (used in) operations               |                                                                                                                       |           812,098                                                                   |          (724,220)                                                                       |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
| Cash flows from investing activities:                                    |                                                                                             |                                                                                                                       |                                                                                                                                  |
|                                                                          | Purchase of property and equipment                                                          |                                                                                                                       |                                                                                                                                  |              (6,933)                                                 |            (94,447) |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
|                                                                          |       Net cash provided by investing activities               |                                                                                                                       |                                                                                                                                  |              (6,933)                                                 |            (94,447) |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
| Cash flows from financing activities:                                    |                                                                                             |                                                                                                                       |                                                                                                                                  |
|                                                                          | Related party receivables                                                                   |                                                                                                                       |                                                                                                                                  |             79,046                                                        |                     -   |
|                                                                          | Related party payables                                                                      |                                                                                                                       |                                                                                                                                  |          (588,201)                                                                       |           941,819 |
|                                                                          | Repayments on short-term notes payable                                                      |                                                                                                                       |                                                                                                                                  |          (314,009)                                                                       |                     -   |
|                                                                          |       Net cash provided by financing activities               |                                                                                                                       |                                                                                                                                  |          (823,164)                                                                       |           941,819 |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
|                                                                          | Effect of rate changes on cash                                                              |                                                                                                                       |                     -   |                     -   |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
|                                                                          | Increase (decrease) in cash and cash equivalents                                            |                                                                                                                       |            (17,999)                                                            |           123,152                                                                   |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                        |    |
|                                                                          | Cash and cash equivalents, beginning of period                                              |                                                                                                                       |             64,272                                                        |               4,454                                             |
|                                                                          | Cash and cash equivalents, end of period                                                    |                                                                                                                       |  $         46,273                                                                   |  $       127,606                                                                              |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
| Supplemental disclosures of cash flow information:                       |                                                                                             |                                                                                                                       |                                                                                                                                  |
|                                                                          | Cash paid for interest                                                                      |                                                                                                                       |  $         29,354                                                                   |  $         30,489                                                                   |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
|                                                                          | Cash paid for income taxes                                                                  |                                                                                                                       |  $         65,658                                                                   |  $                 -              |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |
| Supplemental disclosures of non-cash investing and financing activities: |                                                                                             |
|                                                                          | Inventory and intangibles acquired in business combination                                  |  $                 -   |  $    1,026,571                                                                                              |
|                                                                          |                                                                                             |                                                                                                                       |                                                                                                                                  |                                                                                                                                  |  |

See notes to unaudited consolidated financial statements				8

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SHINECO, INC.				NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

QUARTERLY FINANCIAL STATEMENTS

The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-QSB but do not include all of the information and footnotes required by generally accepted accounting principles and should, therefore, be read in conjunction with the Company’s 2004 financial statements in Form 10-KSB. These statements do include all normal recurring adjustments, which the Company believes necessary for a fair presentation of the statements. The interim operating results are not necessarily indicative of the results for a full year.

1.      NATURE OF OPERATIONS

> 
Shineco, Inc. (the Company) was incorporated on August 20, 1997 as Supcor, Inc. in the State of Delaware. On December 30, 2004 the Company acquired all of the outstanding stock of Beijing Tenet Jove Technological Development Co., Ltd. in exchange for stock of the Company. The Company changed its name to Shineco, Inc. on May 18, 2005. The consolidated results of operations are primarily those of Beijing Tenet Jove and its consolidated subsidiaries.				Beijing Tenet Jove Technological Development Co., Ltd. (Beijing Tenet Jove) was incorporated on December 16, 2003 under the laws of the People’s Republic of China (the PRC). The Company primarily manufactures and sells clothing and related products, using natural, health conducive materials.

2.      BASIS OF PRESENTATION

> 
The accompanying consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States of America (US GAAP) and have been retroactively restated to give effect to the recapitalization due to a reverse merger consummated on December 30, 2004. This basis differs from that used in the statutory accounts of the Company, which were prepared in accordance with the accounting principles and relevant financial regulations applicable to enterprises in the PRC. All necessary intercompany transactions and balances have been eliminated in consolidation, and all necessary adjustments have been made to present the consolidated financial statements in accordance with US GAAP.				The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries. The Company’s subsidiaries at June 30, 2005 are as follows:

> 
Subsidiary name

Date established

Date merged

Percentage owned

Tian Yi Hua Tai, Tianjin

August 12, 2003

April 27, 2004

90%

Nan Jing

February 13, 2004

February 13, 2004

51%

QiQiHaer

January 14, 2004

January 14, 2004

55%

9

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SHINECO, INC.				NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

3.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

> 
ECONOMIC AND POLITICAL RISKS				The Company faces a number of risks and challenges as a result of having primary operations and markets in the PRC. Changing political climates in the PRC could have a significant effect on the Company’s business.				ESTIMATES				The preparation of consolidated financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of income and expenses during the reporting period. Actual results could differ from those estimates.				CASH AND CASH EQUIVALENTS				For purposes of the statements of cash flows, cash and cash equivalents includes cash on hand and demand deposits held by banks. None of the Company’s deposits are insured by the Federal Deposit Insurance Corporation or any other entity of the U.S. government.				TRADE ACCOUNTS RECEIVABLE				Trade accounts receivable are recognized and carried at original invoice amount less an allowance for any uncollectible amounts. An allowance for doubtful accounts is made when collection of the full amount becomes questionable. The allowance for doubtful accounts was $165,766 at June 30, 2005.				INVENTORIES				Inventories consist of raw materials, packaging materials, sub-contracting materials, production costs, and finished products.  The inventories are valued at the lower of cost (first-in, first-out method) or market.  Impairment and changes in market value are evaluated on a per item basis.

10

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SHINECO, INC.				NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

3.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

> 
INVENTORIES (Continued)				If the cost of the inventory exceeds the market value evaluation based on total inventory, provisions are made for the difference between the cost and the market value.  Provision for potential obsolete or slow moving inventory is made based on analysis of inventory levels, age of inventory and future sales forecasts.				PROPERTY, PLANT AND EQUIPMENT				Property, plant and equipment is carried at cost less accumulated depreciation and amortization. Depreciation and amortization are computed using the straight-line method over the useful lives of the assets. Amortization of leasehold improvements is calculated on a straight-line basis over the life of the asset or the term of the lease, whichever is shorter.  Major renewals and betterments are capitalized and depreciated; maintenance and repairs that do not extend the life of the respective assets are charged to expense as incurred.  Upon disposal of assets, the cost and related accumulated depreciation are removed from the accounts and any gain or loss is included in income.  Depreciation related to property and equipment used in production is reported in cost of sales.  Property and equipment are depreciated over their estimated useful lives as follows:				               Machinery and equipment               10 years				               Vehicles                                         7 years				               Office equipment                            7 years				Long-term assets of the Company are reviewed annually to assess whether the carrying value has become impaired, according to the guidelines established in Statement of Accounting Standards (SFAS) No. 144, *“Accounting for the Impairment or Disposal of Long-Lived Assets.”* The Company also evaluates the periods of amortization to determine whether subsequent events and circumstances warrant revised estimates of useful lives. No impairment of assets was recorded in the periods reported.				REVENUE RECOGNITION				Revenues are recognized as earned when the following four criteria are met: (1) persuasive evidence of an arrangement exists; (2) delivery has occurred; (3) the seller's price to the buyer is fixed or determinable; and (4) collectibility is reasonably assured.

11

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SHINECO, INC.				NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

3.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

> 
ADVERTISING EXPENSE				Advertising costs are expensed as incurred.				FOREIGN CURRENCY AND COMPREHENSIVE INCOME				The accompanying consolidated financial statements are presented in United States (US) dollars. The functional currency is the Renminbi (RMB). The consolidated financial statements are translated into US dollars from RMB at year-end exchange rates for assets and liabilities, and weighted average exchange rates for revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.				The exchange rate for RMB to US dollars has varied by only 100ths during 2004 and 2005. Thus, the consistent exchange rate used has been 8.28 RMB per each US dollar. Since there have been no greater fluctuations in the exchange rate, there is no gain or loss from foreign currency translation and no resulting other comprehensive income or loss.				RMB is not freely convertible into the currency of other nations. All such exchange transactions must take place through authorized institutions. There is no guarantee the RMB amounts could have been, or could be, converted into US dollars at rates used in translation.				TAXES				Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to reverse. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in the statement of operations in the period that includes the enactment date. A valuation allowance is provided for deferred tax assets if it is more likely than not these items will either expire before the Company is able to realize their benefits, or that future deductibility is uncertain.				Currently, the Company has recorded no income taxes and no deferred taxes because it is a high-tech company registered in Chinese Zhongguancun Science Park. In China, high-tech companies are encouraged to promote their technologies to the market, so the Company is exempted from income tax for its first three years.

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SHINECO, INC.				NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

3.      SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Continued)

> 
EARNINGS PER SHARE				Basic earnings per common share ("EPS") is calculated by dividing net income by the weighted average number of common shares outstanding during the year. Diluted earnings per common share are calculated by adjusting the weighted average outstanding shares, assuming conversion of all potentially dilutive securities, such as stock options and warrants.				The numerator and denominator used in the basic and diluted EPS of common stock computations are presented in the following table:

> 							 Three months ended June 30, 							 Six months ended June 30, 2005200420052004NUMERATOR FOR BASIC AND DILUTED EPS      Net income (loss) to common stockholders							 $           (84,400)							 $             23,555							 $             25,515							 $           276,200DENOMINATOR FOR BASIC EPS      Weighted average shares of common stock 						      outstanding							           9,298,823							           9,298,823							           9,298,823							           9,298,823EPS - Basic							 $               (0.01)							 $                 0.00							 $                 0.00							 $                 0.03DENOMINATOR FOR FULLY DILUTED EPS      Weighted average common shares and warrants 						      outstanding							           9,638,823							           9,298,823							           9,638,823							           9,298,823EPS - Fully diluted							 $               (0.01)							 $                 0.00							 $                 0.00							 $                 0.03

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SHINECO, INC.				NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

4.      BUSINESS COMBINATIONS

> 
On September 22, 2000, Tian Bai was incorporated in the PRC to manufacture and sell clothing and related products. On December 16, 2003 Beijing Tenet Jove was incorporated in the PRC and purchased a 51% interest in Tian Bai, beginning a parent subsidiary relationship. Beijing Tenet Jove intended to add other companies to its holdings, and operated Tian Bai as a consolidated subsidiary. Tian Bai was subsequently sold.				On January 12, 2004, Haer Bin was incorporated in the PRC, as a 51% owned subsidiary of Beijing Tenet Jove, and on January 14, 2004, QiQiHaer was established in the PRC as a 55% owned subsidiary of Beijing Tenet Jove. On February 13, 2004 another 51% subsidiary was formed by the name of Nan Jing, also in the PRC.				Tian Yi Hua Tai, Tianjin (Tianjin) was incorporated in the PRC on August 12, 2003 as a manufacturer of clothing and related products. On April 27, 2004 Tianjin merged into Beijing Tenet Jove, becoming a 90% subsidiary. The Company received primarily inventory and manufacturing patents in exchange for issuance of its registered capital. The merger was accounted for using the purchase method.				On July 27, 2004, Beijing Tenet Jove sold all of its equity interest in Haer Bin, and on October 18, 2004 Beijing Tenet Jove sold all of its equity interest in Tian Bai. In aggregate, the Company recognized gains of $80,945 on the sales of these subsidiaries during 2004.				On November 4, 2004, owners of Beijing Tenet Jove acquired a controlling interest in the Company from its previous stockholders. On December 30, 2004, the Company issued 13,600,000 (6,800,000 adjusted for 1:2 reverse split) shares of its common stock in exchange for 100% of the outstanding registered capital of Beijing Tenet Jove. Beijing Tenet Jove is treated as the accounting acquirer in a reverse merger. Consequently, these financial statements reflect the accounts and operations of Beijing Tenet Jove, with the adopted capital structure of the Company retroactively restated.

5.      INTANGIBLES

> 
Intangibles consist primarily of manufacturing patent rights, acquired in the business combination with Tianjin. They are determined to have a finite life of 15 years and are being amortized straight line over that period.

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SHINECO, INC.				NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

6.      CUSTOMER DEPOSITS

> 
Customer deposits at June 30, 2005 consist of $201,186 in prepayments to the Company for merchandise that had not yet been shipped. The Company will recognize the deposits as revenue as customers take delivery of the goods, in compliance with its revenue recognition policy.

7.      STOCK WARRANTS

> 
Pursuant to the Stock Purchase Agreement executed in conjunction with the reverse merger of the Company and Beijing Tenet Jove, a warrant for 5% of the outstanding stock of the Company was issued to the selling stockholders, exercisable at par value, and expiring on December 12, 2005. Certain information regarding outstanding and exercisable warrants is summarized as follows:

```

```

> 
Exercise Price

Number Outstanding

Weighted Average Exercise Price

Weighted Average Life - Years

$0.001

340,000

$0.001

1

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8.      STOCK TRANSACTIONS

> 
On April 12, 2005 the Company effected a 1:2 reverse stock split. Fractional shares were rounded up to the nearest whole share. Prior to the split 18,597,640 shares were issued and outstanding. Subsequent to the split 9,298,823 shares were issued and outstanding.

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			Item 2.  Management’s Discussion and Analysis or Plan of Operation			The following discussion relates to the results of our operations to date, and our financial condition: This report contains forward looking statements relating to our Company's future economic performance, plans and objectives of management for future operations, projections of revenue mix and other financial items that are based on the beliefs of, as well as assumptions made by and information currently known to, our management. The words "expects, intends, believes, anticipates, may, could, should" and similar expressions and variations thereof are intended to identify forward-looking statements. The cautionary statements set forth in this section are intended to emphasize that actual results may differ materially from those contained in any forward looking statement.				The following discussion and analysis should be read in conjunction with our consolidated financial statements and the related notes thereto and other financial information contained elsewhere in this Form 10-QSB.				OVERVIEW

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Shineco, Inc. (the “Company, we”) was incorporated under the laws of the State of Delaware on August 20, 1997.  On December 30, 2004, the Company acquired all of the issued and outstanding shares of Beijing Tenet-Jove Technological Development Corp., Ltd. (“Tenet-Jove”) a People’s Republic of China company in exchange for restricted shares of the Company’s common stock, and the sole operating business of the Company became that of its subsidiary, Tenet-Jove.

Tenet-Jove currently develops, manufactures and distributes apocynum fiber and food products in the growing China through its national marketing network. Apocynum products are specialized fabric and food products designed to incorporate traditional Eastern medicines with modern scientific and developed health products predicated on well-established Eastern herbal remedies based on apocynum raw material.  The Company refers to its technology as "Infrared." The working of the product is analogous to a nicotine patch in that the clothes manufactured with the Company's apocynum fabrics are impregnated with the product that is then absorbed through the wearer's skin.

Tenet-Jove was established in 2003 and is headquartered in Beijing, the People’s Republic of China.  In today’s maturing and aging society people are looking for new ways to improve fitness levels so that they can continue to live a comfortable and healthy life.  Tenet-Jove aims to establish and offer a new value called “health-building”, moving forward from the conventional concept of health maintenance. Drawing on Tenet-Jove's core competence in bio-information sensing and health management technology, we offer the best possible solutions and products to support the prevention and treatment of lifestyle-induced diseases.

Operating in the booming healthcare marketplace, we have established a number of initiatives and strategies that combine customer sensitivity with product innovation. Our mission is, through our advanced and high-quality healthcare products, to provide our customers with suggestions and solutions for health improvement.

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We are a healthcare product manufacturer and health solution provider in the PRC. We principally develop, manufacture, and distribute healthcare products through our national sales and services network to our customers in the PRC.

Our healthcare business is comprised of research, development and application of “health-building” technology. 

Since the establishment of Tenet Jove in 2003, we have gradually developed a series of products and established a nation-wide marketing network.

The Company’s revenues for the six months ended June 30, 2005 and 2004 were $1,256,514.00 and $1,553,719.00 respectively. The Company's selling, general and administrative expenses for the six months ended June 30, 2006, were $599,877.00 and for the six months ended June 30, 2004, were $731,864.00.

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|                                                    |              | 2005-6-30  | 2004-6-30             |              |                       |
|----------------------------------------------------|--------------|------------|-----------------------|--------------|-----------------------|
|                                                    |              | Amount     | Percentage of revenue | Amount       | Percentage of revenue | Growth in amount | Increase in percentage (%) |
|                                                    |              | US$        | (%)                   | US$          | (%)                   | US$ |  |
| Revenues                                           |              |            |                       |              |                       |  |  |
| Sales revenues                                     | 1,256,514.00 |            | 1,553,719.00          |              | (297,205.00)          | (0.19) |
| Cost of goods sold                                 | 602,287.00   | 47.93%     | 477,303.00            | 30.72%       | 124,984.00            | 0.26 |
| Gross profit                                       |              | 654,227.00 | 52.07%                | 1,076,416.00 | 69.28%                | (422,189.00) | (0.39) |
|                                                    |              |            |                       |              |                       | 0.00 |  |
| Operating expenses                                 |              |            |                       |              | 0.00                  |  |
| Other selling expenses                             | 267,148.00   | 21.26%     | 382,241.00            | 24.60%       | (115,093.00)          | (0.30) |
| Other general and administrative expenses          | 332,729.00   | 26.48%     | 349,623.00            | 22.50%       | (16,894.00)           | (0.05) |
| Total operating expenses                           | 599,877.00   | 47.74%     | 731,864.00            | 47.10%       | (131,987.00)          | (0.18) |
|                                                    |              |            | 0.00%                 |              | 0.00%                 | 0.00 |  |
| Net operating income                               | 54,350.00    | 4.33%      | 344,552.00            | 22.18%       | (290,202.00)          | (0.84) |
|                                                    |              |            | 0.00%                 |              | 0.00%                 | 0.00 |  |
| Other income (expense)                             |              | 0.00%      |                       | 0.00%        | 0.00                  |  |
| Interest expense                                   | (29,354.00)  | -2.34%     | (30,489.00)           | -1.96%       | 1,135.00              |  |
| Other                                              |              | 551.00     | 0.04%                 | (28,602.00)  | -1.84%                | 29,153.00 | (1.02) |
| Total other income (expense)                       | (28,803.00)  | -2.29%     | (59,091.00)           | -3.80%       | 30,288.00             | (0.51) |
|                                                    |              |            | 0.00%                 |              | 0.00%                 | 0.00 |  |
| Income before taxes and minority interest          | 25,547.00    | 2.03%      | 285,461.00            | 18.38%       | (259,914.00)          | (0.91) |
|                                                    |              |            |                       |              | 0.00%                 | 0.00 |  |
| Provision for income taxes                         | (1,007.00)   | -0.08%     |                       | 0.00%        | (1,007.00)            |  |
|                                                    |              |            | 0.00%                 |              | 0.00%                 | 0.00 |  |
| Income before minority interest                    | 24,540.00    | 1.95%      | 285,461.00            | 18.38%       | (260,921.00)          | (0.91) |
|                                                    |              |            | 0.00%                 |              | 0.00%                 | 0.00 |  |
| Minority interest in loss (income) of subsidiaries | 975.00       | 0.08%      | (9,261.00)            | -0.60%       | 10,236.00             | (1.11) |
|                                                    |              |            | 0.00%                 |              | 0.00%                 | 0.00 |  |
| Net income                                         |              | 25,515.00  | 2.03%                 | 276,200.00   | 17.78%                | (250,685.00) | (0.91) |
|                                                    |              |            | 0.00%                 |              | 0.00%                 | 0.00 |  |
| Foreign currency translation adjustment            | 0.00         | 0.00%      | 0.00                  | 0.00%        | 0.00                  |  |
|                                                    |              |            | 0.00%                 |              | 0.00%                 | 0.00 |  |
| Comprehensive income                               | 25,515.00    | 2.03%      | 276,200.00            | 17.78%       | (250,685.00)          | (0.91) |

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Our sales revenue for the six months ended June 30, 2005 was $1,256,514.00, representing a decrease of 19.13% from the previous year. We derive our sales revenues primarily from sales of our products.  Our operating revenues are composed of sales of healthcare products and franchising fees from vendors. Those decreases were mainly attributable to the continuous market reorganization and sales prices regulations, and the market reorganization and sales price regulations will in turn benefit future revenue increase.

GROSS PROFIT MARGIN

Our gross margin on sales was 52.07% in the six months ended June 30, 2005 compared to 69.28% in the same period of 2004. Our gross margin slightly decreased in 2005 as compared to the previous year. This is an on-going effect that started from the first quarter of  this year caused by the slowdown sale season and sustained sale prices regulation.  

NET INCOME

Our consolidated net income decreased 91% to $25,515.00 for the six months ended June 30, 2005 as compared to $276,200.00 for the same period of 2004. This decrease is attributable to a decrease in revenue of 19.13% in the first quarter as compared to the same quarter of 2003, and an increase of commercial expenses.

LIQUIDITY AND SOURCES OF CAPITAL

We generally finance our operations from cash flow generated internally and customer deposits. As of June 30, 2005, the Company had current assets of $4,287,486, current liabilities of $2,689,310 and working capital of $1,598,176 and shareholders’ equity of $1,627,675.			Our operations provided net cash of $812,098 for the six months ended June 30, 2005. At June 30, 2005, cash and cash equivalents were $ 46,273. Working capital was $1,598,176 at June 30, 2005, reflecting a current ratio of 1.59:1 compared to 1.60:1 at June 30, 2004. Our current ratio of the second quarter of 2005 maintained a balance compared to that of the previous year.

We anticipate that our working capital resources are adequate to fund anticipated costs and expenses for the remainder of  2005.

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FOREIGN CURRENCY AND COMPREHENSIVE INCOME

The accompanying consolidated financial statements are presented in United States (US) dollars. The functional currency is the Renminbi (RMB). The consolidated financial statements are translated into US dollars from RMB at year-end exchange rates for assets and liabilities, and weighted average exchange rates for revenues and expenses. Capital accounts are translated at their historical exchange rates when the capital transactions occurred.

The exchange rate for RMB to US dollars has varied by only 100ths during 2004 and 2005. Thus, the consistent exchange rate used has been 8.28 RMB per each US dollar. Since there have been no greater fluctuations in the exchange rate, there is no gain or loss from foreign currency translation and no resulting other comprehensive income or loss.

RMB is not freely convertible into the currency of other nations. All such exchange transactions must take place through authorized institutions. There is no guarantee the RMB amounts could have been, or could be, converted into US dollars at rates used in translation.

OPERATING EXPENSES

For the six months ended June 30, 2005, operating and general and administrative expenses were $599,877 as compared to $731,864 for the six months ended June 30, 2004, a decrease of $131,987.

OVERALL

The Company reported net income for the six months ended June 30, 2005 of $25,515 compared to net income for the six months ended June 30, 2004 of $276,200.  This translates to income per-share of $.00 for the six months ended June 30, 2005, as compared to  earnings per share of $.03 for the six months ended June 30, 2004.

Sources of Capital

As of June 30, 2005, the Company had cash on hand of $46,273.  Management believes it will have the resources available to maintain its current business operation as a result of continued sales of its product.  As of June 30, 2005, the Company had working capital of $1,598,176.

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PART II

Item 6. Exhibits and Reports on Form 8-K

(a) The exhibits required to be filed herewith by Item 601 of Regulation S-B, as described in the following index of exhibits, are incorporated herein by reference, as follows:

Exhibit No.       Description

3.1                   Articles of Incorporation of Supcor, Inc. (1)			3.1(a)               Articles of Amendment to Articles of Incorporation (2)			3.1 (b)              Articles of Amendment to the Articles of Incorporation (3)			3.2                   By-Laws of Supcor, Inc. (1)			31.1                 Certification under Section 302 of the Sarbanes-Oxley Act of 2002			31.2                 Certification under Section 302 of the Sarbanes-Oxley Act of 2002			32.1                 Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to 			                        Section 906 of the Sarbanes-Oxley Act of 2002			32.2                 Certification pursuant to 18 U.S.C. Section 1350, as adopted pursuant to 			                        Section 906 of the Sarbanes-Oxley Act of 2002.

(1)        Incorporated by reference from the Form 10-SB filed by the Company on August 24, 2004

(2)        Incorporated by references from the Form 10-SB/A filed by the Company on October 7, 2004.

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(b)        The Company did not file any reports on Form 8-K during the quarter ended June 30, 2005

SIGNATURES

In accordance with the requirements of the Exchange Act, the Registrant has caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.			Dated:  August 25, 2005			SHINECO, INC.			/s/ Yuying Zhang			_______________________________			Yuying Zhang, President			/s/ Lin Wen			__________________________________			Lin Wen, Secretary

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