Shineco, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended December 31, 2022
February 15, 2023 at 03:46 am IST
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Shineco, Inc. reported earnings results for the second quarter and six months ended December 31, 2022. For the second quarter, the company reported sales was USD 0.539247 million compared to USD 0.732574 million a year ago. Net loss was USD 2.77 million compared to USD 2.88 million a year ago. Basic loss per share from continuing operations was USD 0.16 compared to USD 0.32 a year ago. Basic loss per share was USD 0.16 compared to USD 0.32 a year ago.
For the six months, sales was USD 1.07 million compared to USD 1.36 million a year ago. Net loss was USD 5.21 million compared to USD 17.12 million a year ago. Basic loss per share from continuing operations was USD 0.32 compared to USD 1.6 a year ago. Basic loss per share was USD 0.32 compared to USD 1.96 a year ago.
Shineco Inc is a holding company. The Company provides health and well-being focused plant-based products by using its subsidiaries' and variable interest entities' vertically and horizontally integrated production, distribution and sales channels. The Company operates through three segments. Developing, producing and distributing innovative rapid diagnostic products and related medical devices for the most common diseases (Rapid Diagnostic and Other Products) :This segment is conducted through Biowin, which specializes in the development, production and distribution of innovative rapid diagnostic products and related medical devices for the most common diseases; Producing, processing and distribution of agricultural products, such as silk and silk fabrics as well as fresh fruit s (Other agricultural products): This segment is conducted through Wintus, which specializes in producing, processing and distribution of agricultural products, such as silk and silk fabrics as well as tra