Company: XXC
Filing Date: 2025-09-08
Form Type: F-1/A
Source: 0001213900-25-085500
Chunk: 32

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-09-08
Form: F-1/A
Chunk 32
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 be done through our PRC subsidiaries. If any of our PRC subsidiaries incurs debt on its own behalf in the future, the instruments governing such debt may restrict their ability to pay dividends to us. See “ Risk Factors — Risks Related to Doing Business in China — PRC regulation on loans to, and direct investment in, our PRC subsidiaries by offshore holding companies and governmental control in currency conversion may delay or prevent us from using the proceeds of this offering to make loans to or make additional capital contributions to our PRC subsidiaries, which could materially and adversely affect our liquidity and our ability to fund and expand our business” on page 29. We are currently in the process of adopting our formal cash management policies which will dictate the purpose, amount and procedure of cash transfers among our holding company and its subsidiaries. Historically, one PRC operating entity provides financial support for other entities’ operations by inter -companyloans and we have not experienced difficulties or limitations on our ability to transfer cash between our PRC subsidiaries. Prior to our reorganization for purpose of our initial public offering, cash transfers between our PRC subsidiaries were generally approved by the management of the company providing the funds. After our reorganization, cash transfers among our holding company and subsidiaries of less than RMB2million (US$0.31million) must be reported to, reviewed and approved by our Chief Financial Officer; cash transfers equal to or in excess of RMB2million (US$0.31million) but less than RMB10million (US$1.54million) must be reported to, reviewed and approved by both our Chief Executive Officer and Chief Financial Officer; cash transfers equal to or in excess of RMB10million (US$1.54million) must be approved by our board of directors. Among Xinxu and its subsidiaries, cash is transferred from Xinxu and HK Xinxu as needed in the form of capital contributions or shareholder loans, as the case may be, to the PRC subsidiary as we are permitted under PRC laws and regulations to provide funding to our PRC subsidiary only through loans or capital contributions, and only if we satisfy the applicable government registration and approval requirements. We believe that there is no restriction imposed by the Hong Kong government on the transfer of capital within, into and out of Hong Kong (including funds from Hong Kong to the mainland China), except transfer of funds involving money laundering and criminal activities. However, to the extent cash or assets in our business are in the PRC or Hong Kong