Company: XXC
Filing Date: 2025-11-28
Form Type: POS AM
Source: 0001213900-25-115625
Chunk: 103

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-28
Form: POS AM
Chunk 103
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 of the Nasdaq Listing Rules by virtue of being a foreign private issuer. As a foreign private issuer, we are permitted to follow the governance practices of our home country, the Cayman Islands, in lieu of certain corporate governance requirements of the Nasdaq Listing Rules. As result, the standards applicable to us are considerably different than the standards applied to domestic U.S. issuers. For instance, we are not required to: •have a majority of the board be independent (although all of the members of the audit committee must be independent under the Exchange Act); •have a compensation committee and a nominating committee to be comprised solely of “independent directors”; or •hold an annual meeting of shareholders no later than one year after the end of our fiscal year. Although we do not currently intend to rely on these “home country” exemptions, we may rely on some of these exemptions in the future. As a result, our shareholders may not be provided with the benefits of certain corporate governance requirements of the Nasdaq Listing Rules. We have incurred, and may continue to incur, increased costs as a result of being an SEC reporting company, particularly after we cease to qualify as an “emerging growth company.” We expect to incur significant legal, accounting and other expenses as a result of being an SEC reporting company. The Sarbanes -OxleyAct of 2002, as well as rules subsequently implemented by the SEC and Nasdaq, impose various requirements on the corporate governance practices of public companies. We expect these rules and regulations to increase our legal and financial compliance costs and to make some corporate activities more time -consumingand costly. As a company with less than US$1.235billion in revenues for our last fiscal year, we qualify as an “emerging growth company” pursuant to the JOBS Act. An emerging growth company may take advantage of specified reduced reporting and other requirements that are otherwise applicable generally to public companies. After we are no longer an “emerging growth company,” we expect to incur significant expenses and devote substantial management effort toward ensuring compliance with the requirements of Section 404 of the Sarbanes -OxleyAct of 2002 and the other rules and regulations of the SEC. As a result of becoming an SEC reporting company, we have increased the number of independent directors and adopted policies regarding internal controls and disclosure controls and procedures. Operating as an SEC reporting company has also made it more difficult and more expensive for us to obtain director and officer liability insurance, and we may be required to accept reduced policy