CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Mar. 31, 2017 |
Mar. 31, 2016 |
Mar. 31, 2017 |
Mar. 31, 2016 |
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REVENUE | $ 7,941,583 | $ 7,662,509 | $ 25,531,313 | $ 27,073,426 |
COST OF REVENUE | ||||
Cost of product and services | 5,319,742 | 5,470,557 | 17,007,048 | 18,110,671 |
Business and sales related tax | 19,264 | 20,903 | 53,228 | 59,469 |
GROSS PROFIT | 2,602,577 | 2,171,049 | 8,471,037 | 8,903,286 |
OPERATING EXPENSES | ||||
General and administrative expenses | 631,640 | 462,659 | 2,029,981 | 1,540,906 |
Selling expenses | 304,182 | 361,814 | 1,186,536 | 1,363,761 |
Total operating expenses | 935,822 | 824,473 | 3,216,517 | 2,904,667 |
INCOME FROM OPERATIONS | 1,666,755 | 1,346,576 | 5,254,520 | 5,998,619 |
OTHER INCOME | ||||
Income from equity method investments | 551,281 | 567,370 | 1,545,677 | 1,503,730 |
Other income | 93,888 | 89,118 | 253,196 | 142,354 |
Interest income (expense), net | (25,414) | 28,423 | 15,124 | 100,336 |
Total other income | 619,755 | 684,911 | 1,813,997 | 1,746,420 |
INCOME BEFORE INCOME TAX PROVISION | 2,286,510 | 2,031,487 | 7,068,517 | 7,745,039 |
PROVISIONS FOR INCOME TAXES | 328,274 | 256,953 | 833,661 | 883,840 |
NET INCOME | 1,958,236 | 1,774,534 | 6,234,856 | 6,861,199 |
Less: net income attributable to non-controlling interest | 35,829 | 31,212 | 116,006 | 122,161 |
NET INCOME ATTRIBUTABLE TO SHINECO, INC. | 1,922,407 | 1,743,322 | 6,118,850 | 6,739,038 |
COMPREHENSIVE INCOME | ||||
Net income | 1,958,236 | 1,774,534 | 6,234,856 | 6,861,199 |
Other comprehensive income (loss): foreign currency translation gain (loss) | 528,683 | 355,159 | (1,985,492) | (2,480,288) |
Total comprehensive income | 2,486,919 | 2,129,693 | 4,249,364 | 4,380,911 |
Less: comprehensive income attributable to non-controlling interest | 43,720 | 37,863 | 80,161 | 102,090 |
COMPREHENSIVE INCOME ATTRIBUTABLE TO SHINECO, INC. | $ 2,443,199 | $ 2,091,830 | $ 4,169,203 | $ 4,278,821 |
Weighted average number of shares basic and diluted | 21,034,072 | 19,320,882 | 20,477,598 | 19,320,882 |
Basic and diluted earnings per common share | $ 0.09 | $ 0.09 | $ 0.30 | $ 0.35 |
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- Definition Amount of cost of product and services excluding business and sales related tax. No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income (loss) and other comprehensive income (loss), attributable to noncontrolling interests. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Definition The amount of excise and sales taxes included in sales and revenues, which are then deducted as a cost of sales. Includes excise taxes, which are applied to specific types of transactions or items (such as gasoline or alcohol); and sales, use and value added taxes, which are applied to a broad class of revenue-producing transactions involving a wide range of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The net amount of operating interest income (expense). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income from investments (for example, dividends) not considered a component of the entity's core operations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of Net Income (Loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount before tax, after reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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