Company: XXC
Filing Date: 2025-09-18
Form Type: F-1/A
Source: 0001213900-25-089077
Chunk: 131

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-09-18
Form: F-1/A
Chunk 131
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partycompanies. Net cash provided by operating activities for the fiscal year ended June30, 2024 was approximately $3.30million, which was primarily attributable to a net profit of approximately $0.84million, adjusted for non -cashitems for approximately $0.46million and adjustments for changes in working capital approximately $2million. The adjustments for changes in working capital mainly included: (i)an increase in accounts receivable of approximately $5.18million, primarily due to the fact that (a) (i) we shifted our focus from low-margin copper resales to higher-margin copper bar products, and (ii) copper bar customers — especially for use in electric vehicle battery packs — generally have longer payment terms than customers for copper materials.;

78 (ii)an increase in inventory of approximately $1.72million primarily due to (a) an increase in production of the copper power distribution components made of copper bars that are widely used in electric vehicle battery packs; and (b) an increase in purchase of electrolytic copper as its market price remained at a low point during the year; (iii)a decrease in advances to suppliers of approximately $2.29million, primarily related to the decrease in prepaid purchase of equipment, which was assembled and put in operation during the year; (iv)a decrease in other receivables of approximately $1.53million, primarily due to the repayment of borrowings from third -partycompanies; (v)an increase in accounts payable of approximately $6.50million, primarily due to an increase in purchase of raw materials in June 2024; and (vi)a decrease in other current liabilities of approximately $2.05million, primarily due to repayment of individual borrowings and funds from third -partycompanies. Net cash used in operating activities for the fiscal year ended June30, 2023 was approximately $1.44million, which was primarily attributable to a net loss of approximately $0.27million, adjusted for non -cashitems for approximately $0.40 million and adjustments for changes in working capital approximately $1.57 million. The adjustments for changes in working capital mainly included: (i)an increase in accounts receivable of approximately $4.49million, primarily due to the increased purchase of copper materials, primarily electrolytic copper; (ii)a decrease in inventory of approximately $63.07million due to the increase in sales of copper materials, primarily electrolytic copper. As the market price of electrolytic copper hit a historic low point during June