Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 216

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 216
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 use of the proceeds from public offering to finance the Company’s business and operations in China.
The Company’s ability to conduct its businesses may be negatively affected if the PRC government were to carry out of any of the aforementioned actions. In such case, the Company may not be able to consolidate the VIEs and the VIEs’ subsidiaries in its consolidated financial statements as it may lose the ability to exert effective control over the VIEs and its shareholders and it may lose the ability to receive economic benefits from the VIE and the VIEs’ subsidiaries for accounting purposes under U. S. GAAP. The Company, however, does not believe such actions would result in the liquidation or dissolution of the Company, its PRC subsidiary and the VIEs and the VIEs’ subsidiaries.

F-10

Table of Contents

The Company, YSX HK and WFOE are essentially holding companies and did not have material operations. During the year ended March 31, 2025, YSX Cayman, YSX HK and WFOE only recorded immaterial amount of assets and liabilities (including cash of $1,665,833, other receivable of $7,729, due from related partiesof $198,611, property and equipment of $1,270, deferred tax assets of $31,579, and other payable and accrued liabilities of $9,044as of March 31, 2025). During the year ended March 31, 2024, YSX Cayman, YSX HK and WFOE only recorded immaterial amount of assets and liabilities (including cash of $8,961, other receivable of $23,000, deferred initial public offering costs of $12,875, due to related partiesof $277,586, and other payable and accrued liabilities of $42,457as of March 31, 2024). In addition, there wasnorevenue generated by YSX Cayman, YSX HK and the WFOE during fiscal year 2025, 2024 and 2023, operating expenses and net lossreported by YSX Cayman, YSX HK and the WFOE amounted to approximately $869,062, $385,098and $18,350for the years ended March 31, 2025, 2024 and 2023, respectively. As a result, total assets and liabilities presented on the consolidated balance sheets and revenue, expenses, and net income presented on the consolidated statement of comprehensive