Company: JSKJ
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001477932-25-008401
Chunk: 241

Company: Jiansu (Shanghai) Information Technology Co., Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 241
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| Notes payable, total                                                 |     | $              | 13,778,219 |     | $ | 40,554,883 |

The notes are issued by financial institutions on the Company’s behalf to vendors with a specific due date, usually for a period of no more than one year. These notes can either be endorsed by the vendor to other third parties as payment or can be factored to other financial institutions before maturity. As security for financial institutions’ undertakings, the Company is required to maintain deposits with such financial institutions in restricted cash amounts of 10% to 100% of the balances of the notes. As of June 30, 2024 and 2023, deposits of $10,853,226 and $38,070,498 were reported as restricted cash on balance sheet. These notes payables were fully paid upon maturity and the restricted deposits were also released upon the payment.

Note 11 – TAXES

Cayman

Jiansu is incorporated in the Cayman Islands and is not subject to income taxes under the current laws of the Cayman Islands.

HongKong

Jensu HK is a company registered in Hong Kong and subject to the following corporate income tax rate: the first HK$2 million of profits earned will be taxed at half the current rate (i.e., 8.25%), while the remaining profits will continue to be taxed at the existing 16.5% if revenue is generated in Hong Kong. Nil pre-tax income was generated in Hong Kong for the fiscal years ended June 30, 2024 and 2023.

PRC

Under the PRC Enterprise Income Tax Law, the standard enterprise income tax rate for domestic enterprises and foreign invested enterprises is 25%. As small-scale taxpayers, 25% of the annual taxable income will be included in the taxable income, and the enterprise income tax will be paid at the rate of 20%, which is essentially resulting in a favorable income tax rate of 5%. Shanghai Jiansu, Shanghai Shangjituopu, Jiansu NB, Huanshu Cloud Chain, Jiansu Supply Chain, and Jiansu Distribution are eligible for the preferential tax policies as small-scale taxpayers for the fiscal year ended June 30, 2024 and 2023. Shanghai Jiansu,and Jiansu New Material are subject to corporate income tax at the PRC unified rate of 25%.

| i) | The components of the income tax provision (benefit)