Insider filing report for Changes in Beneficial Ownership
- Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
- Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
What is insider trading>>
- Peter Lynch
What is insider trading>>
|
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549 |
SCHEDULE 13D
Under the Securities Exchange Act of 1934
(Amendment No. 1)*
|
Shineco, Inc. (Name of Issuer) |
Common Stock (Title of Class of Securities) |
824567507 (CUSIP Number) |
Shanchun Huang House 81, Seasons Villas,, Kam Tin, NT Hong Kong, F4, 999077 447999 688888 (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) |
01/07/2025 (Date of Event Which Requires Filing of This Statement) |
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.
The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the
Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).
SCHEDULE 13D
|
| CUSIP No. | 824567507 |
| 1 |
Name of reporting person
Shanchun Huang | ||||||||
| 2 | Check the appropriate box if a member of a Group (See Instructions)
(a)
(b)
| ||||||||
| 3 | SEC use only | ||||||||
| 4 |
Source of funds (See Instructions)
PF | ||||||||
| 5 |
Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)
| ||||||||
| 6 | Citizenship or place of organization
MALTA
| ||||||||
| Number of Shares Beneficially Owned by Each Reporting Person With: |
| ||||||||
| 11 | Aggregate amount beneficially owned by each reporting person
5,041,667.00 | ||||||||
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)
| ||||||||
| 13 | Percent of class represented by amount in Row (11)
29.4 % | ||||||||
| 14 | Type of Reporting Person (See Instructions)
IN |
Comment for Type of Reporting Person:
(1) On November 8, 2024, the Issuer effectuated a reverse stock split of its common stock at a ratio of 1-for-24 (the "Reverse Split"). Following the Reverse Split, each 24 shares of the Issuer's common stock outstanding were automatically combined into one new share of common stock. No fractional shares were issued in connection with the Reverse Split; any fractional shares resulting from the Reverse Split were rounded up to the nearest whole share. The par value per share of the Issuer's common stock remained unchanged. The common stock of the Issuer started trading on a post-split basis on November 12, 2024, at which time the common stock was assigned a new CUSIP number (824567507). (2) The percentage is calculated based upon 17,179,844 shares of the Issuer's common stock issued and outstanding as of April 22, 2025. (3) This Amendment No. 1 (the "Amendment") amends the statement on Schedule 13D filed with the U.S. Securities and Exchange Commission on July 12, 2024 (the "Schedule 13D") to the extent as amended and supplemented by this Amendment. Except as disclosed in and expressly amended by this Amendment, all information set forth in the Schedule 13D is hereby unaffected. Capitalized terms used but not defined in this Amendment shall have the meanings set forth in the Schedule 13D. This Amendment is being filed to report an increase in the Reporting Person's beneficial ownership percentage due to the purchase of shares of the Issuer's common stock by the Reporting Person.
SCHEDUL
E 13D
|
| Item 1. | Security and Issuer |
| (a) | Title of Class of Securities:
Common Stock |
| (b) | Name of Issuer:
Shineco, Inc. |
| (c) | Address of Issuer's Principal Executive Offices:
Room 1707, Block D, Modern City SOHO, No. 88, Jianguo Road, Chaoyang District, Beijing,
CHINA
, 100022. |
| Item 2. | Identity and Background |
| (a) | Shanchun Huang |
| (b) | House 81, Seasons Villas, Kam Tin, NT, Hong Kong, PRC 999077 |
| (c) | Individual investor |
| (d) | No. |
| (e) | No. |
| (f) | the Republic of Malta |
| Item 3. | Source and Amount of Funds or Other Consideration |
All shares of Common Stock were purchased with the Reporting Person's personal funds. The total amount of the funds used to make the purchases described in Item 4 was $ 15,900,000. | |
| Item 4. | Purpose of Transaction |
On June 20, 2024, the Issuer entered into a securities purchase agreement with the Reporting Person, pursuant to which the Issuer sold and issued to the Reporting Person 1,000,000 shares of the Issuer's common stock at a price of $ 5.00 per share on July 8, 2024. On November 8, 2024, the Issuer completed the Reverse Split as described on the cover page of this Amendment. Following the Reverse Split, the Reporting Person directly held 41,667 shares of Common Stock. On December 24, 2024, the Issuer entered into a securities purchase agreement with the Reporting Person, pursuant to which the Issuer sold and issued to the Reporting Person 5,000,000 shares of Common Stock at a price of $ 2.18 per share on January 7, 2025. As of the date of this Amendment, the Reporting Person directly holds the shares set forth on the cover page of this Amendment. The information set forth on the cover page of this Amendment is hereby incorporated by reference into this Item 4. The Reporting Person acquired all of his shares of the Common Stock for investment purposes. The Reporting Person believes the securities of the Issuer represent an attractive investment opportunity. The Reporting Person has had and anticipates having further discussions with officers and directors of the Issuer in connection with the Reporting Person's investment in the Issuer. The topics of these conversations will cover a range of issues, including those relating to the business, management, operations, capital allocation, asset allocation, capital and corporate structure, distribution policy, financial condition, mergers and acquisitions strategy, overall business strategy, executive compensation, and corporate governance. The Reporting Person may also communicate with other shareholders or interested parties, such as industry analysts, existing or potential strategic partners or competitors, investment professionals, and other investors. The Reporting Person may at any time reconsider and change his intentions relating to the foregoing. The Reporting Person may also take one or more of the actions described in subsections (a) through (j) of Item 4 of Schedule 13D and may discuss such actions with the Issuer's management, other shareholders of the Issuer, and other interested parties, such as those set out above. The Reporting Person intends to review his investments in the Issuer on a continuing basis. Depending on various factors, including, without limitation, the Issuer's financial positions and strategic direction, the outcome of the discussions and actions referenced above, actions taken by the board of directors, price levels of the Common Stock, other investment opportunities available to the Reporting Person, tax implications, conditions in the securities market and general economic and industry conditions, the Reporting Person may in the future take actions with respect to its investment position in the Issuer as it deems appropriate, including, without limitation, purchasing additional Common Stock or other instruments that are based upon or relating to the value of the Common Stock or the Issuer in the open market or otherwise, selling some or all of the interest in the Issuer held by the Reporting Person, and/or engaging in hedging or similar transactions with respect to the Common Stock. The Reporting Person is an affiliate of the Issuer and intends to continue to take an active role in the Issuer's management and strategic direction. There can be no assurance that the Reporting Person will pursue any of the matters set forth above. Moreover, there can be no assurance that the Reporting Person will or will not develop any plans or proposals with respect to any of the foregoing matters or take any particular action or actions with respect to some or all of his holdings in the Issuer, or as to the timing of any such matters should they be so pursued by the Reporting Person. The Reporting Person reserve the right, at any time and in Reporting Person's sole discretion, to take or refrain from taking any of the actions set forth above. Except as described in this Item 4, as of the date of this Amendment, the Reporting Person has no present plan or proposal that relates to or would result in any of the matters set forth in subsections (a) through (j) of Item 4 of Schedule 13D. | |
| Item 5. | Interest in Securities of the Issuer |
| (a) | The Reporting Person owns an aggregate of 5,041,667 shares of the Issuer's Common Stock. Based upon 17,179,844 shares of the Issuer's common stock outstanding as of April 22, 2025, the shares of the Issuer's Common Stock beneficially owned by the Reporting Person constitute approximately 29.4% of the Common Stock of the Issuer as calculated in accordance with Rule 13d-3(d)(1). |
| (b) | Mr. Huang may be deemed to hold sole voting and dispositive power over 5,041,667 shares of common stock of the Issuer. |
| (c) | To the best knowledge of the Reporting Person, except as set forth in this Amendment, the Reporting Person has not effected any other transactions in any securities of the Issuer in the past 60 days. |
| (d) | To the best knowledge of the Reporting Person, except as set forth in this Amendment, no person other than the Reporting Person has the right to receive, or the power to direct the receipt of, dividends from, or the proceeds from the sale of the shares of Common Stock reported in Item 5(a). |
| (e) | Not applicable. |
| Item 6. | Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer |
Other than as described herein, there are no contracts, arrangements, understandings or relationships (legal or otherwise) between the Reporting Person and any other person with respect to any securities. | |
| Item 7. | Material to be Filed as Exhibits. |
Exhibit 10.1 Securities Purchase Agreement dated December 24, 2024, by and between the Issuer and the Reporting Person (incorporated by reference to Exhibit 10.1 to the Issuer's Current Report on Form 8-K, filed with the SEC on December 30, 2024) |
| SIGNATURE | |
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
|
|
|