Company: XXC
Filing Date: 2025-09-08
Form Type: F-1/A
Source: 0001213900-25-085500
Chunk: 75

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-09-08
Form: F-1/A
Chunk 75
---
 customers and require changes to their demand, our customers may have a reduced need for our products, and, as a result, our revenue could be adversely affected. U.S. regulatory bodies may be limited in their ability to conduct investigations or inspections of our operations in China. Any disclosure of documents or information located in China by foreign agencies may be subject to jurisdiction constraints and must comply with China’s state secrecy laws, which broadly define the scope of “state secrets” to include matters involving economic interests and technologies. There is no guarantee that requests from U.S. federal or state regulators or agencies to investigate or inspect our operations will be honored by us, by entities who provide services to us or with whom we associate, without violating PRC legal requirements, especially as those entities are located in China. Furthermore, under the current PRC laws, an on -siteinspection of our facilities by any of these regulators may be limited or prohibited. We and our shareholders face uncertainties with respect to indirect transfers of equity interests in PRC resident enterprises by their non-PRC holding companies. On February3, 2015, the SAT issued the Announcement on Several Issues Concerning the Enterprise Income Tax on Indirect Transfer of Assets by Non -ResidentEnterprises, or the SAT Circular 7. The SAT Circular 7 extends its tax jurisdiction to transactions involving the transfer of taxable assets through offshore transfer of a foreign intermediate holding company. In addition, SAT Circular 7 has introduced safe harbors for internal group restructurings and the purchase and sale of equity through a public securities market. SAT Circular 7 also brings challenges to both foreign transferor and transferee (or other person who is obligated to pay for the transfer) of taxable assets. On October17, 39 2017, the SAT issued the Announcement on Issues Relating to Withholding at Source of Income Tax of Non -residentEnterprises, or the SAT Circular37, which came into effect on December1, 2017. The SAT Circular 37 further clarifies the practice and procedure of the withholding of non -residententerprise income tax. Where a non -residententerprise transfers taxable assets indirectly by disposing of the equity interests of an overseas holding company, which is an Indirect Transfer, the non -residententerprise as either transferor or transferee, or the PRC entity that directly owns the taxable assets, may report such Indirect Transfer to the relevant tax authority. Using a “substance over form” principle, the PRC tax authority may disregard the existence of the overseas holding