Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 61

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 61
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 would be deemed a PFIC, which could have adverse U. S. federal income tax consequences for U. S. taxpayers who are shareholders. We have determined that for this fiscal year we are not a PFIC. We will continue to make this determination following the end of any particular tax year. Prospective investors who are U. S. taxpayers should note that, if we are determined to be a PFIC for any taxable year, we do not currently intend to prepare or provide the information that would enable investors to make a qualified electing fund election which, if available, would result in different (and generally, less adverse) U. S. federal income tax consequences under the PFIC rules.

Although the law in this regard is unclear, we treat the VIEs as being owned by us for U. S. federal income tax purposes, not only because we exercise effective control over the operations of such entities but also because we are entitled to substantially all of their economic benefits for accounting purposes, and, as a result, we consolidate their operating results in our consolidated financial statements. For purposes of the PFIC analysis, in general, a non-U. S. corporation is deemed to own its pro rata share of the gross income and assets of any entity in which it is considered to own at least 25% of the equity by value.

For a more detailed discussion of the application of the PFIC rules to us and the consequences to U. S. taxpayers if we were or are determined to be a PFIC, see “ Item 10. Additional Information - E. Taxation - Material Income Tax Considerations - U. S. Federal Income Taxation - Passive Foreign Investment Company.”

Item 4. INFORMATION ON THE COMPANY

A. History and Development of the Company

Corporate History and Structure

On November 9, 2022, YSX Cayman, or the Company, was incorporated in the Cayman Islands under the Cayman Islands Companies Act.

On November 29, 2022, the Company’s wholly-owned subsidiary, YSX HK, or YSX (HK) Holding Co., Limited, was established as an investment holding company under the laws of Hong Kong.

On December 30, 2022, Yishengxin (Guangzhou) International Holding Co., Ltd. (“ WFOE”) was incorporated pursuant to PRC laws as a wholly foreign owned enterprise of YSX HK.

Xinjiang YSX, or Xinjiang Yishengxin Network Technology Co. Ltd, a limited liability