secwatch.observer — SEC 8-K summary
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Issuer:     SHINECO, INC. (—)
CIK:        0001300734
Form:       8-K/A
Filed at:   2023-12-01T23:59:59+00:00
Accession:  0001493152-23-043323
Event type: m_and_a
Sentiment:  negative
Materiality: 0.60
Item codes: 9.01, 2.01
LLM model:  deepseek-v4-flash:cloud@v2

Shineco files audited financials of acquired Dream Partner; FY2023 net loss of $512k vs prior-year profit
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- Dream Partner revenue flat at ~$48.6M in FY2023 ending June 30, but net loss attributable of $511.7k vs $2.0M net income in prior year.
- Gross profit fell from $4.0M to $1.2M, with cost of revenue rising to 97.5% of sales from 91.7%.
- Total assets $23.5M, total liabilities $23.2M, shareholders' deficit $878k as of June 30, 2023.
- Cash flow from operations improved to $1.9M in FY2023 from negative $948k in prior year.
- Dream Partner is a BVI holding company with PRC subsidiaries engaged in silk and agricultural product trading.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1300734/000149315223043323/0001493152-23-043323-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1300734/000149315223043323/form8-ka.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-043323

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer