Company: FOXX
Filing Date: 2025-10-15
Form Type: 10-K
Source: 0001213900-25-098953
Chunk: 370

Company: Foxx Development Holdings Inc.
Filing Date: 2025-10-15
Form: 10-K
Item: Item 1B
Chunk 370
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 with a monthly rental
fee of $550. After the initial six-month term, the lease has been renewed on a month-to-month basis.

On
September 18, 2023, the Company entered a month-to-month rental agreement to rent a dorm for the employee with a monthly rent of
$3,000.

F-29

Long-term
leases  

In
September 2023, the Company signed a three-year lease agreement to rent a general office and storage space for business operation
with a monthly rent of $3,096, plus varied monthly CAM. The commencement date of this lease is October 1, 2023 and has no renewal
option. On July 17, 2024, the Company extended the lease for another 35 months to be commenced on October 1, 2026 and ended August 31,
2029. The Company considered this lease as an operating lease and recognized right-of-use asset and lease liability. The Company recognized
lease expense on a straight-line basis over the lease term for operating lease.

In
June 2024, the Company signed a six years and 11.5 months lease agreement to rent a general office for business operation with a monthly
rent of $3,500, plus varied monthly CAM. The commencement date of this lease is June 15, 2024 and the expiration date is May 31,
2031. The Company considered this lease as an operating lease and recognized right-of-use asset and lease liability. The Company recognized
lease expense on a straight-line basis over the lease term for operating lease. 

On
July 17, 2024, the Company signed a five-year and one-half month lease agreement to rent a general office and storage space for business
operation with a monthly rent of $10,534, plus varied monthly CAM. The commencement date of this lease is August 15, 2024 and has
no renewal option. The Company considered this lease as an operating lease and recognized right-of-use asset and lease liability. The
Company recognized lease expense on a straight-line basis over the lease term for operating lease. 

On
July 12, 2024, the Company signed and further amended a ten-year lease agreement to rent a 101,145 square feet factory and warehouse
for business operation, which will be commenced on July 1, 2025. On December 20, 2024, the Company further expanded the existing lease
to include additional