# EDGAR Filing Document

**Accession Number:** 0001354457
**File Stem:** 0001354457-25-001165
**Filing Date:** 2025-11
**Character Count:** 7644
**Document Hash:** 306f3bd0e6c749b384452770c5c89618
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001354457-25-001165.hdr.sgml**: 20251120

**ACCESSION NUMBER**: 0001354457-25-001165

**CONFORMED SUBMISSION TYPE**: 25-NSE

**CONFIRMING COPY**: 

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20251120

**DATE AS OF CHANGE**: 20251120

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SHINECO, INC.
- **CENTRAL INDEX KEY:** 0001300734
- **STANDARD INDUSTRIAL CLASSIFICATION:** AGRICULTURE PRODUCTION - CROPS [0100]
- **ORGANIZATION NAME:** 08 Industrial Applications and Services
- **EIN:** 522175898
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 25-NSE
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-37776

**BUSINESS ADDRESS:**
- **STREET 1:** ROOM 1707, BUILDING D
- **STREET 2:** MODERN CITY SOHO
- **CITY:** CHAOYANG DISTRICT, BEIJING,
- **STATE:** F4
- **ZIP:** 100022
- **BUSINESS PHONE:** (86) 10-68329620

**MAIL ADDRESS:**
- **STREET 1:** ROOM 1707, BUILDING D
- **STREET 2:** MODERN CITY SOHO
- **CITY:** CHAOYANG DISTRICT, BEIJING,
- **STATE:** F4
- **ZIP:** 100022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SUPCOR, INC.
- **DATE OF NAME CHANGE:** 20050328

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Supcor, Inc.
- **DATE OF NAME CHANGE:** 20041015

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SupCor, Inc.
- **DATE OF NAME CHANGE:** 20040817
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Nasdaq Stock Market LLC
- **CENTRAL INDEX KEY:** 0001354457

**ORGANIZATION NAME:**
- **EIN:** 521165937
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 25-NSE

**BUSINESS ADDRESS:**
- **STREET 1:** One Liberty Plaza
- **CITY:** New York
- **STATE:** NY
- **ZIP:** 10006
- **BUSINESS PHONE:** 301-978-4144

**MAIL ADDRESS:**
- **STREET 1:** Office of General Counsel
- **STREET 2:** 805 King Farm Blvd.
- **CITY:** ROCKVILLE
- **STATE:** MD
- **ZIP:** 20850

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** The Nasdaq Stock Market LLC
- **DATE OF NAME CHANGE:** 20060224

## Exhibit 99.25

```

Delisting Determination, The Nasdaq Stock Market, LLC, November 7, 2025,
Shineco, Inc.
The Nasdaq Stock Market LLC (the Exchange) has determined to remove
from listing the common stock of Shineco, Inc. effective at the
opening of the trading session on December 1, 2025. Based on review
of information provided by the Company, Nasdaq Staff
determined that the Company no longer qualified for listing on the
Exchange pursuant to Listing Rule 5550(a)(2).The Company was
notified of the Staff determination on June 16, 2025.
On June 23, 2025 the Company exercised its right to appeal
the Staff determination to the Listing Qualifications Hearings
Panel (Panel) pursuant to Listing Rule 5815.
On July 24, 2025, the hearing was held.
On July 24, 2025 the Panel reached a
decision and a Decision letter was issued on July 25, 2025.
The Company common stock was suspended on October 7, 2025.
The Company filed an appeal with the Nasdaq Listing and Hearing
Review Council (NLHRC) on July 28, 2025. The NLHRC issued its
decision Brief on October 1, 2025 and stated the when the Company conducted
the November 2024 reverse stock split (RSS), it either knew or
should have known that Nasdaq had already proposed to adopt the Excessive Split
Rule in August 2024.
One could reasonably expect a listed company with a
history of frequent Bid Price Rule violations and RSS to have been aware of
and attuned to this development, which was a
matter of public record. Thus, the NLHRC did not agree with the Company
that it conducted its RSS blind
to the potential repercussions of doing so if it experienced yet another
Bid Price Rule deficiency over the subsequent year.
The Company argument lacked also merit that the Hearings Panel acted
arbitrarily in delisting its securities while allowing other
similarly situated companies securities to remain listed.
Although superficially, matters may seem analogous due to the companies involved
having faced the same Listing Rule violations and having engaged in the same
types of transactions to address those violations.
However, the facts and circumstances of each delisting
are unique. Differences in the capital structures, compliance histories,
and compliance plans of two companies may be very different and
such differences may reasonably impact how Hearings
Panels deal with each company deficiency.
As already stated, the Council does not find the Panel decision erroneous.
The Panel decision is sustained.
This matter was not called for review by the Nasdaq Stock Market
Board of Directors regarding the Decision brief
issued by the NLHRC dated October 1, 2025.
Staff determination to delist the Company common stock
is final as of October 2, 2025.

```

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## FORM 25

### NOTIFICATION OF REMOVAL FROM LISTING AND/OR REGISTRATION UNDER SECTION 12(b) OF THE SECURITIES EXCHANGE ACT OF 1934.

**Commission File Number:** 001-37776

|  |  |
|:---|:---|
| Issuer:                                                                                                             | SHINECO, INC.                                                  |
| Exchange:                                                                                                           | Nasdaq Stock Market LLC                                        |
| (Exact name of Issuer as specified in its charter, and name of Exchange where security is listed and/or registered) |  |
| Address:                                                                                                            | RM 30D 1603 New World Center Apartment, Beijing, CHINA, 100062 |
| Telephone number:                                                                                                   | +86 10 58693197                                                |
| (Address, including zip code, and telephone number, including area code, of Issuer's principal executive offices)   |  |
| (Description of class of securities)                                                                                | Common Stock                                                   |

---

Please place an X in the box to designate the rule provision relied upon to strike the class of securities from listing and registration:

- [ ] 17 CFR 240.12d2-2(a)(1)
- [ ] 17 CFR 240.12d2-2(a)(2)
- [ ] 17 CFR 240.12d2-2(a)(3)
- [ ] 17 CFR 240.12d2-2(a)(4)
- [x] Pursuant to 17 CFR 240.12d2-2(b), the Exchange has complied with its rules to strike the class of securities from listing and/or withdraw registration on the Exchange.
- [ ] Pursuant to 17 CFR 240.12d2-2(c), the Issuer has complied with its rules of the Exchange and the requirements of 17 CFR 240.12d2-2(c) governing the voluntary withdrawal of the class of securities from listing and registration on the Exchange.

---

Pursuant to the requirements of the Securities Exchange Act of 1934, Nasdaq Stock Market
LLC certifies that it has reasonable grounds to believe that it meets all of the
requirements for filing the Form 25 and has caused this notification to be signed on its
behalf by the undersigned duly authorized person.

| Date       | By   | Name          | Title            |
|:---|:---|:---|:---|
| 2025-11-20 |  | Aravind Menon | Hearings Advisor |

Form 25 and attached Notice will be considered compliance with the provisions of 17 CFR
240.19d-1 as applicable. See General Instructions.

Persons who respond to the collection of information contained in this form are not
required to respond unless the form displays a currently valid OMB Number.