Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 127

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 127
---
 generally extend our customers a credit term of 90 days. Based on our management’s assessment of the collectability of our outstanding accounts receivable, we accrued certain bad debt reserves in prior years, which has been collected in subsequent periods. In fiscal year 2023, a higher amount of accrued bad debt reserves has been collected than in 2024. Our office expenses also increased by $32,736, or 52.9%, from $61,872 in fiscal year 2023 to $94,608 in fiscal year 2024, and our entertainment and transportation expenses increased by $32,373, or 107.3%, from $30,170 in fiscal year 2023 to $62,543 in fiscal year 2024 primarily due to the increased number of administrative employees to support our expanded business operations in fiscal year 2024. The overall increase in our general and administrative expenses in fiscal year 2024 as compared to fiscal year 2023 reflected the above-mentioned factors combined.

As a percentage of revenues, general and administrative expenses were 3.1%, 2.8% and 2.3% of our revenue for the years ended March 31, 2025, 2024 and 2023, respectively.

Table of Contents

Research and development expenses

Our research and development expenses primarily consist of salaries, welfare and insurance expenses paid to our employees involved in the research and development activities associated with our IT platform, rent expenses and other miscellaneous expenses.

                                                                %                       %                       %               
 ────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Salary and welfare expenses                  184,243       76.8      173,216       75.3      184,155       72.4       11,027  
  Rent expenses                                 38,393       16.0       39,504       17.2       40,129       15.8      (1,111)  
  Other expenses                                17,416        7.2       17,214        7.5       29,962       11.8          202  
  Total research and development expenses      240,052      100.0      229,934      100.0      254,246      100.0       10,118  

Our research and development activities primarily related to software development in order to provide IT solutions to help customers to