Company: XXC
Filing Date: 2025-09-18
Form Type: F-1/A
Source: 0001213900-25-089077
Chunk: 40

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-09-18
Form: F-1/A
Chunk 40
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 it difficult for prospective investors to assess the value of our ordinary shares. See the risk factor with the same heading in “ Risk Factors” beginning on page 53; •Nasdaq may delist our securities from trading on its exchange, which could limit investors’ ability to make transactions in our securities and subject us to additional trading restrictions. See the risk factor with the same heading in “ Risk Factors” beginning on page 58. •Our Chief Executive Officer and director, Mr.Jinchun Cheng, has control over our company. His interests may not be aligned with the interests of our other shareholders, and he could prevent or cause a change of control or other transactions. See the risk factor with the same heading in “ Risk Factors” beginning on page 56. Implications of the HFCA Act The HFCA Act was enacted on December18, 2020. The HFCA Act states that if the SEC determines that an issuer’s audit reports issued by a registered public accounting firm have not been subject to inspection by the PCAOB for three consecutive years beginning in 2021, the SEC shall prohibit such issuer’s securities from being traded on a national securities exchange or in the over -the-countertrading market in the United States. On March24, 2021, the SEC adopted interim final rules relating to the implementation of certain disclosure and documentation requirements of the HFCA Act. An identified issuer will be required to comply with these rules if the SEC identifies it as having a “non -inspection” year under a process to be subsequently established by the SEC. In June 2021, the Senate passed the CAA, which was signed into law on December29, 2022, reducing the time period for the delisting of foreign companies under the HFCA Act to two consecutive years instead of three years. If our auditor cannot be inspected by the PCAOB for two consecutive years, the trading of our securities on any U.S. national securities exchanges, as well as any over -the-countertrading in the U.S., will be prohibited. On September22, 2021, the PCAOB adopted a final rule implementing the HFCA Act, which provides a framework for the PCAOB to use when determining, as contemplated under the HFCA Act, whether the PCAOB is unable to inspect or investigate completely registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction. On December2, 2021, the SEC issued amendments to finalize rules implementing the submission and disclosure requirements in