Company: XXC
Filing Date: 2025-11-18
Form Type: 20-F
Source: 0001213900-25-111691
Chunk: 94

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-18
Form: 20-F
Item: Item 19
Chunk 94
---
,879       $737,260  

The land use rights represent
the Company’s land use rights of the land lots located in Wuhu, China, which had been pledged to secure the Company’s banking
facilities granted to the Company as of June 30, 2025 and 2024. The carrying values of the pledged land use rights to secure bank
borrowings by the Company are shown in Note 10.

Amortization expenses were
$17,918, $17,891 and $ 18,589for the fiscal years ended June 30,
2025, 2024 and 2023, respectively (the difference was due to exchange rate). The amortization expenses for both years were recorded
within the general and administrative expenses.

Five succeeding years
of amortization are as following:

  Year      Amortization                  Net carrying               
                                          value                      
 ─────────────────────────────────────────────────────────────────────
  2026      $                 18,076      $                 711,803  
  2027                        18,076                        693,727  
  2028                        18,076                        675,651  
  2029                        18,076                        657,575  
  2030                        18,076                        639,499  

F-18

XINXU COPPER INDUSTRY TECHNOLOGY LIMITED

NOTE 10 - SHORT-TERM BORROWINGS

Short-term borrowings
consisted of the following as of June 30, 2025 and 2024:

                                                                2025            2024  
 ──────────────────────────────────────────────────────────────────────────────────────
  Short-term borrowings from financial institutions      $13,233,171      $8,944,298  
  Short-term loans from third-party individuals              816,629         804,987  
  Total                                                  $14,049,800      $9,749,285  

Short-term borrowings
from financial institutions consisted of the following as of June 30, 2025:

  Bank Name                                           Amount – RMB                      Issuance        Expiration                Pledged    
                                                                                        Date            Date                      by assets  
                                                                                                                                  listed     
                                                                                                                                  below      
 ─────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Agricultural Bank of China                             3,500,000         488,581      7/24/2024