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CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) | 12 Months Ended
--- | ---
Jun. 30, 2017 | Jun. 30, 2016
REVENUE | $ 33,592,337 | $ 35,206,852
COST OF REVENUE |  |
Cost of product and services | 22,776,035 | 24,037,241
Business and sales related tax | 75,974 | 85,038
Total cost of revenue | 22,852,009 | 24,122,279
GROSS PROFIT | 10,740,328 | 11,084,573
OPERATING EXPENSES |  |
General and administrative expenses | 1,813,402 | 1,988,101
Selling expenses | 1,480,855 | 1,755,264
Total operating expenses | 3,294,257 | 3,743,365
INCOME FROM OPERATIONS | 7,446,071 | 7,341,208
OTHER INCOME |  |
Income from equity method investments | 927,697 | 672,269
Purchase rebate income | 1,136,162 | 1,124,258
Other income | 348,181 | 197,390
Interest income, net | 14,171 | 135,404
Total other income | 2,426,211 | 2,129,321
INCOME BEFORE PROVISION FOR INCOME TAXES | 9,872,282 | 9,470,529
PROVISION FOR INCOME TAXES | 1,252,637 | 1,177,707
NET INCOME | 8,619,645 | 8,292,822
Less: net income attributable to non-controlling interest | 149,991 | 155,926
NET INCOME ATTRIBUTABLE TO SHINECO, INC. | 8,469,654 | 8,136,896
COMPREHENSIVE INCOME |  |
Net income | 8,619,645 | 8,292,822
Other comprehensive loss: foreign currency translation loss | (1,271,036) | (3,991,356)
Total comprehensive income | 7,348,609 | 4,301,466
Less: comprehensive income attributable to non-controlling interest | 132,008 | 107,219
COMPREHENSIVE INCOME ATTRIBUTABLE TO SHINECO, INC. | $ 7,216,601 | $ 4,194,247
Weighted average number of shares basic and diluted | 20,616,335 | 19,320,882
Basic and diluted earnings per common share | $ 0.41 | $ 0.42

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