Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 119

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 119
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 Guangzhou Dayong Insurance Agency Co., Ltd. (“ Dayong”), an entity affiliated with Ms. Qian Zeng, one of the shareholders of Xinjiang YSX, and we reported revenue from a related party of $19,894,638, $11,927,909 and $7,100,617 for the years ended March 31, 2025, 2024 and 2023, respectively. Such revenue accounted for approximately 27.8%, 20.4% and 14.4% of our total revenue for the years ended March 31, 2025, 2024 and 2023, respectively. The auto insurance aftermarket value-added service fees charged to related parties were determined using the same standard we use for our third-party insurance companies and brokerages. The related parties for which the YSX Operating Companies provided value-added services during the years ended March 31, 2025, 2024 and 2023 were located in the provincial geographic areas (primarily in the Guangdong Province) where the YSX Operating Companies are currently conducting business. As we plan to expand the operations to other geographic areas, we expect to provide more auto insurance aftermarket value-added services to a growing number of third-party insurance companies and brokerages and do not expect to continue to derive a substantial amount of value-added service revenue from related parties in future periods.

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Revenue from Other Scenario-based Customized Services

Our revenue generated from providing other scenario-based customized services to customers decreased by approximately $4.3 million, or 36.8%, from approximately $11.8 million in fiscal year 2024 to approximately $7.4 million in fiscal year 2025. Our revenue generated from providing other scenario-based customized services to customers increased by approximately $8.2 million, or 232.5%, from approximately $3.5 million in fiscal year 2023 to approximately $11.8 million in fiscal year 2024. For scenario-based customized services, we utilize our sales and marketing team to provide services for insurance companies, brokerages and other enterprise customers, such as customer development, product or services introduction, sales strategy and skills education, to help customers to post their advertisements through various external social media platforms, and to help customers to plan and organize seasonal on-the-ground sales and promotional campaigns at 4S dealer stores, where insurance products and services are sold to targeted consumers or customer designated locations. In fiscal year 2024, insurance companies and brokerages strengthened their marketing