Company: XXC
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052817
Chunk: 32

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 32
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 are prohibited to trade on a U.S. stock exchange. On August26, 2022, the CSRC, the MOF, and the PCAOB signed the Protocol, taking the first step toward opening access for the PCAOB to inspect and investigate registered public accounting firms headquartered in mainland China and Hong Kong without any limitations on scope. On December15, 2022, the PCAOB Board determined that the PCAOB was able to secure complete access to inspect and investigate registered public accounting firms headquartered in mainland China and 13 Hong Kong. On December29, 2022, the CAA was signed into law. The CAA, among other things, reduced the number of consecutive non -inspectionyears required for triggering the prohibitions under the HFCA Act as it was originally passed from three years to two, and thus, reduced the time before our shares may be prohibited from trading or delisted. Each year, the PCAOB will determine whether it can inspect and investigate completely audit firms in mainland China and Hong Kong, among other jurisdictions. If the PCAOB determines in the future that it no longer has full access to inspect and investigate completely accounting firms in certain jurisdictions and we use an accounting firm headquartered in one of such jurisdictions to issue an audit report on our financial statements filed with the SEC, we would be identified as a Commission -IdentifiedIssuer following the filing of the annual report on Form 20 -Ffor the relevant fiscal year. There can be no assurance that we would not be identified as a Commission -IdentifiedIssuer for any future fiscal year, and if we were so identified for two consecutive years, we would become subject to the prohibition on trading under the HFCA Act. However, uncertainties exist with respect to the implementation of this framework and there is no assurance that the PCAOB will be able to execute, in a timely manner, its future inspections and investigations. These developments add uncertainties to our offering. See the risk factor with the same heading in “ Risk Factors” beginning on page 21. •Changes in the political and economic policies of the PRC government or in relations between China and the United States may materially and adversely affect our business, financial condition and results of operations and may result in our inability to sustain our growth and expansion strategies. See the risk factor with the same heading in “ Risk Factors” beginning on page 23. •The rules and regulations in China can change quickly with little advance notice and uncertainties in the interpretation and enforcement of PRC laws, rules and regulations could limit the legal protections available to you