Company: XXC
Filing Date: 2025-08-05
Form Type: F-1/A
Source: 0001213900-25-071711
Chunk: 104

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-08-05
Form: F-1/A
Chunk 104
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 passive income, it is possible that, for our current taxable year or for any subsequent year, more than 50% of our assets may be assets which produce passive income. We will make this determination following the end of any particular tax year. Although the law in this regard is unclear, we treat our consolidated affiliated entities as being owned by us for United States federal income tax purposes, because 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, directly or indirectly, at least 25% of the equity by value. Our status as a PFIC is a fact -intensivedetermination made on an annual basis. Accordingly, our U.S. counsel expresses no opinion with respect to our PFIC status and also expresses no opinion with regard to our expectations regarding our PFIC status. For a more detailed discussion of the application of the PFIC rules to us and the consequences to U.S. taxpayers who own our ordinary shares if we were determined to be a PFIC, see “ Taxation — Material United States Federal Income Tax Considerations — Passive Foreign Investment Company.” The amended and restated memorandum and articles of association that we intend to adopt contain anti-takeover provisions that could have a material adverse effect on the rights of holders of our ordinary shares. Some provisions of our articles of association that we intend to adopt immediately prior to the completion of this offering may discourage, delay or prevent a change in control of our company or management that shareholders may consider favorable, including provisions that authorize our board of directors to issue shares at such times and on such terms and conditions as the board of directors may decide without any further vote or action by our shareholders. Under Cayman Islands law, our directors may only exercise the rights and powers granted to them under our articles of association for what they believe in good faith to be in the best interests of our company and for a proper purpose. 55 Our Chief Executive Officer and director, Mr. Jinchun Cheng, has control over our company. His interests may not be aligned with the interests of our other shareholders, and he could prevent or cause a change of control or other transactions. As of the date of this prospectus, Jinchun Cheng, our Chief Executive Officer and director, beneficially owns an aggregate of 78.50% of our outstanding ordinary shares. Upon the completion of this