Company: JSKJ
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001477932-25-008401
Chunk: 118

Company: Jiansu (Shanghai) Information Technology Co., Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 118
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 income of 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 Yuanlian Intelligent Investment Digital Technology Partnership Enterprise (Limited Partnership), Shanghai Shangjituopu Technology Partnership Enterprise (Limited Partnership), Huanshu Cloud Chain (Shanghai) Technology Co., Ltd, are eligible for the above preferential tax rate as small-scale taxpayers for the fiscal year ended June 30, 2024 and 2023.

For the fiscal year ended June 30, 2024, income tax expenses were $42,998, as compared to nil of income tax expenses for the fiscal year ended June 30, 2023, primarily because the Company had a net operating income for the fiscal year of 2024.

Net Income

As a result of the foregoing, our net income for the fiscal year ended June 30, 2024 increased by 447%, or approximately $2.7 million, to approximately $2.1 million from net loss of approximately $0.6 million for the fiscal year ended June 30, 2023.

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Going Concern Assessment

As reflected in the accompanying consolidated financial statements, The Company had accumulated deficits of $4,635,767 as of June 30, 2024 and negative cash flow of $14, 179,754 in operating activities for the fiscal year ended June 30, 2024. The Company had cash, cash equivalents and restricted cash of $12, 182, 143 as of June 30, 2024 and generated an operating income of $1,254,098 for the fiscal year ended June 30, 2024.

In assessing whether the going concern assumption is appropriate, management considers all available information about the future, which is at least, but not limited to, twelve months from the end of the reporting period. Our ability to continue operations and fund its exploration and development expenditures is dependent on management’s ability to secure additional financing. Management is actively pursuing such additional sources of financing, and while it has been successful in doing so in the past, there can be no assurance it will be able to do so in the future.

Management plans to address these concerns further by securing additional financing through this offering and other debt financing. Management assessed the mitigating effect of its plans to determine if it is probable that the plans would be effectively implemented within one year after the date of issuance of these consolidated financial