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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Mar. 31, 2023

Accounting Policies [Abstract]

SCHEDULE OF CONSOLIDATED ASSETS AND LIABILITIES AND INCOME INFORMATION

 SCHEDULE OF CONSOLIDATED ASSETS AND LIABILITIES AND INCOME INFORMATION

		March 31, 2023				June 30, 2022
Current assets		$	35,323,904			$	34,723,255
Non-current assets			810,221				1,212,739
Total assets			36,134,125				35,935,994
Total liabilities			(4,581,768	)			(5,719,289	)
Net assets		$	31,552,357			$	30,216,705

		2023				2022				2023				2022
		For the nine months ended March 31,								For the three months ended March 31,
		2023				2022				2023				2022
Net sales		$	1,514,166			$	1,937,137			$	984,042			$	609,573
Gross loss		$	(331,212	)		$	(1,673,759	)		$	(234,967	)		$	(498,060	)
Income (loss) from operations		$	1,311,850			$	(8,392,455	)		$	923,945			$	(1,027,601	)
Net income (loss)		$	1,347,099			$	(11,655,014	)		$	947,367			$	(1,014,123	)

The carrying amount of the VIEs and their subsidiaries’ unaudited condensed consolidated income information held for discontinued operations were as follows:

		2023				2022				2023				2022
		For the nine months ended March 31,								For the three months ended March 31,
		2023				2022				2023				2022
Net loss		$	-			$	(3,135,237	)		$	-			$	-

The carrying amount of the VIEs and their subsidiaries’ unaudited condensed consolidated assets and liabilities and income information held for continued operations were as follows:

		March 31, 2023				June 30, 2022
Current assets		$	35,323,904			$	34,723,255
Non-current assets			810,221				1,212,739
Total assets			36,134,125				35,935,994
Total liabilities			(4,581,768	)			(5,719,289	)
Net assets		$	31,552,357			$	30,216,705

		2023				2022				2023				2022
		For the nine months ended March 31,								For the three months ended March 31,
		2023				2022				2023				2022
Net sales		$	1,514,166			$	1,937,137			$	984,042			$	609,573
Gross loss		$	(331,212	)		$	(1,673,759	)		$	(234,967	)		$	(498,060	)
Income (loss) from operations		$	1,311,850			$	(8,392,455	)		$	923,945			$	(1,027,601	)
Net income (loss)		$	1,347,099			$	(8,519,777	)		$	947,367			$	(1,014,123	)

SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT

SCHEDULE OF ESTIMATED USEFUL LIVES OF PROPERTY AND EQUIPMENT

		Estimated useful lives
Buildings		20-50 years
Machinery equipment		3-10 years
Motor vehicles		5-10 years
Office equipment		3-10 years
Farmland leasehold improvements		12-18 years
Leasehold improvement		Lesser of useful life and lease term

SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED (LOSS) PER SHARE

The following table presents a reconciliation of basic and diluted loss per share for the nine and three months ended March 31, 2023 and 2022:

 SCHEDULE OF RECONCILIATION OF BASIC AND DILUTED (LOSS) PER SHARE

		2023				2022				2023				2022
		For the nine months ended March 31,								For the three months ended March 31,
		2023				2022				2023				2022
Net loss from continuing operations attributable to Shineco		$	(7,878,128	)		$	(16,873,390	)		$	(2,668,533	)		$	(2,892,584	)
Net loss from discontinued operations attributable to Shineco			-				(3,135,237	)			-				-
Net loss attributable to Shineco			(7,878,128	)			(20,008,627	)			(2,668,533	)			(2,892,584	)
Weighted average shares outstanding - basic and diluted			17,653,428				9,026,568				20,523,358				9,652,228
Net loss from continuing operations per share of common share Basic and diluted		$	(0.45	)		$	(1.87	)		$	(0.13	)		$	(0.30	)
Net loss from discontinued operations per share of common share Basic and diluted		$	-			$	(0.35	)		$	-			$	-
Net loss per share of common share Basic and diluted		$	(0.45	)		$	(2.22	)		$	(0.13	)		$	(0.30	)

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

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Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

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