Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 80

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 80
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dong Province and Xinjiang Province. The Kashgar Economic Development Zone in Xinjiang Province is a special district that offers generous tax incentives, which are enjoyed by Xinjiang YSX and two of its subsidiaries that also enjoy the same tax incentives by incorporating in the Kashgar Economic Development Zone. On the other hand, according to the “ National Premium Income Report” released by the China Banking and Insurance Regulatory Commission in February 2023, in terms of total insurance premiums generated, Guangzhou Province was the No.1 province and Xinjiang Province was the No.23 province in 2023.

Below is our revenue breakdown by geographic locations for the fiscal years ended March 31, 2025, 2024, 2023.

                 Fiscal Year 2025                                      Fiscal Year 2024                      Fiscal Year 2023                  
                 Revenue                               Percentage      Revenue               Percentage      Revenue               Percentage  
  Province       (USD)                                 %               (USD)                 %               (USD)                 %           
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Guangdong      $                     70,624,206      98.7            $                     92.9            $                     85.9        
  Xinjiang       $                        826,118      1.2             $                     5.1             $                     13.0        
  Others         $                          2,411      0.1             $                     2.0             $                     1.1         

As of the date of this annual report, the YSX Operating Companies plan to expand operations in the major cities both in the Guangdong Province and other selected provinces in favorable geographic locations. To that end, beginning in 2021, the YSX Operating Companies started cooperating with local business partners in Yunnan Province, Guizhou Province, and Sichuan Province, all of which are geographically located between Guangdong Province and Xinjiang Province. We anticipate that this expansion strategy will allow the YSX Operating Companies to take advantage of existing resources, while avoiding a large initial capital outlay.

Sales and Marketing

As of the date of this annual report, the YSX Operating Companies have a dedicated sales team with 10 employees working from Guangdong and Xinjiang offices. The leaders of the sales team are experienced former insurance company executives. The YSX Operating Companies market their services through direct marketing efforts, including (i) running advertising and promotions on the website at www. ysx