Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 76

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 76
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 The service agreements are usually for a term of 1 to 3 years, and stipulate the following: (i) the services to be provided; (ii) the service prices, which shall be determined and agreed upon by the YSX Operating Companies and the vendor at the time of placing service orders with the vendor; (iii) the YSX Operating Companies agree to make an advance deposit of a certain percentage of the total service fee at the time of placing service orders with the vendor; (iv) actual total service fees incur upon the completion of the services shall be verified and settled on a monthly or other agreed-upon basis; (v) service orders are valid for six months to one year and will expire if the insurance policy holders do not request or receive services during this time frame, and any unused deposit shall be refunded to the YSX Operating Companies at the time of fee settlement for the service orders; and (vi) YSX Operating Companies have the right to inspect and monitor the third-party vendor for related service renderings and to resolve disputes and complaints by insurance policy holders who use the value-added services; and (vii) the vendor will be required to reimburse the YSX Operating Companies for costs arising from its failure in rendering services that are satisfactory to the insurance policy holder.

Service Process

The following is the standard auto insurance aftermarket value-added service process, which is facilitated by Driver’s Suite, an application developed and maintained by the in-house technical team of the YSX Operating Companies.

  An insurance company or brokerage customer issues a service order, which includes a list of services to be provided and a matching list of insurance policy holders who receive such services, to...  

  Driver’s Suite generates and distributes a unique service code for each insurance policy holder on the service order;  

Table of Contents

  The YSX Operating Company selects a vendor in the service network to perform the services;  

  Driver’s Suite sends the designated vendor a service order along with the list of the unique service codes;  

  The YSX Operating Company pays an advanced deposit to the vendor according to their service agreement;  

  The insurance policy holders present their unique service codes to the vendor to request services by the vendor;  

  The vendor verifies the unique codes and provides the services accordingly;  

  On a monthly or other pre-agreed basis, the vendor submits to the YSX Operating Company a settlement statement for the completed services, along with detailed service verification information (...  
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