Company: FOXX
Filing Date: 2025-01-10
Form Type: S-1
Source: 0001213900-25-002199
Chunk: 166

Company: Foxx Development Holdings Inc.
Filing Date: 2025-01-10
Form: S-1
Chunk 166
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 | September 30, 
          2024 |   |     |          | June 30, 
     2024 |   |
|:-------------------------------------------------------------|:----|:--|--------------:|:--|:----|:---------|---------:|:--|
|                                                              |     |   |               |   |     | -Audited |          |   |
| Balance as of the beginning of the period                    |     | $ |       649,450 |   |     | $        |       27 |   |
| Add: net increase in current period contract liabilities     |     |   |       143,600 |   |     |          |  649,450 |   |
| Less: revenue recognized from beginning contract liabilities |     |   |      (649,450 | ) |     |          |      (27 | ) |
| Total contract liabilities as the end of the period          |     | $ |       143,600 |   |     | $        |  649,450 |   |

F-19

FOXX DEVELOPMENT HOLDINGS INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Unaudited)

Note 12 — Related party balances and transactions

Related party balances

| Name of Related Party |     | Relationship                         |     | Nature              |     | September 30, 
 2024          |   |     | June 30, 
 2024     |     |
|:----------------------|:----|:-------------------------------------|:----|:--------------------|:----|:--------------|:--|:----|:---------|----:|
|                       |     |                                      |     |                     |     |               |   |     | -Audited |     |
| Company A             |     | Owned by the director of the Company |     | Paid on behalf fees |     | $             | — |     | $        | 140 |

Other payable — related party

|              | Name of Related Party |                                                                          | Relationship |                                                  | Nature |   | September 30, 
          2024 |     |          | June 30, 
     2024 |
|:-------------|:----------------------|:-------------------------------------------------------------------------|:-------------|:-------------------------------------------------|:-------|:--|--------------:|:----|:---------|---------:|
|              |                       |                                                                          |              |                                                  |        |   |               |     | -Audited