Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 248

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 248
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 to process the remittance.

The Company’s functional currency is the RMB whose reporting currency is the U. S. dollars. The RMB depreciated by4.4% from the year ended March 31, 2023 to the year ended March 31, 2024. The RMB further depreciated by0.9% from the year ended March 31, 2024 to the year ended March 31, 2025. It is difficult to predict how market forces or PRC or U. S. government policy may impact the exchange rate between the RMB and the U. S. dollar in the future. The change in the value of the RMB relative to the U. S. dollar may affect its financial results reported in the U. S. dollar terms without giving effect to any underlying changes in its business or results of operations. Currently, the Company’s assets, liabilities, revenues and costs are denominated in RMB.

To the extent that the Company needs to convert U. S. dollars into RMB for capital expenditures and working capital and other business purposes, appreciation of RMB against U. S. dollar would have an adverse effect on the RMB amount the Company would receive from the conversion. Conversely, if the Company decides to convert RMB into U. S. dollar for the purpose of making payments for dividends, strategic acquisition or investments or other business purposes, appreciation of U. S. dollar against RMB would have a negative effect on the U. S. dollar amount available to the Company.

F-30

Table of Contents

c)Concentration of customers and vendors
Substantially all revenue was derived from customers located in China. For the year ended March 31, 2025, threethird-party customers accounted for23.5%,21.6% and16.0% of the Company’s total revenues, andonerelated party customer accounted for27.8% of the Company’s total revenue, respectively. For the year ended March 31, 2024, threethird-party customers accounted for18.4%,17.1% and13.0% of the Company’s total revenues, andonerelated party customer accounted for20.4% of the Company’s total revenue, respectively. For the year ended March 31, 2023, twothird-party customers accounted for16.0% and13.3% of the Company’s total revenues, andonerelated party customer accounted for14.4%