Company: XXC
Filing Date: 2025-11-18
Form Type: 20-F
Source: 0001213900-25-111691
Chunk: 100

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-18
Form: 20-F
Item: Item 19
Chunk 100
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 receivable.
Other significant concentration of accounts receivable included another customer, who accounted for approximately80.35% of total accounts
receivable for the fiscal year ended June 30, 2023.

The loss of the significant
customer or the failure to attract new customers could have a material adverse effect on the Company’s business, consolidated results
of operations and financial condition.

The Company purchased a substantial
portion of raw materials from four suppliers who accounted for an aggregate of55.57% of its total purchases during fiscal year 2025.
As of June 30, 2025, the payable due to these suppliers was $3,369,671, representing46.72% of total accounts payable. Beside the
significant suppliers, there were payables due to another supplier that accounted for of35.35% of total accounts payable as of June 30,
2025.

The Company purchased a substantial
portion of raw materials from three suppliers who accounted for an aggregate of41.45% of its total purchases during the fiscal year ended
June 30, 2024. As of June 30, 2024, there were no payable due to these suppliers being included in accounts payable. Other significant
concentration of accounts payable included three other suppliers, who accounted for an aggregate of77.21% of total accounts payable for
the fiscal year ended June 30, 2024.

The Company purchased a substantial
portion of raw materials from three suppliers who accounted for an aggregate of55.30% of its total purchases during fiscal year 2023.
As of June 30, 2023, there is no payable due to these suppliers. Beside the significant suppliers, there were payables due to another
three suppliers that accounted for an aggregate of68.46% of total accounts payable as of June 30, 2023.

F-22

XINXU COPPER INDUSTRY TECHNOLOGY LIMITED

NOTE 21 - RELATED PARTY TRANSACTIONS

1) Nature of relationships with related parties

  Name                                                                              Relationship with the Company                      
  Jinchun Cheng                                                                     Controlling shareholder of the Company             
  Wuhu Xinkaishun Surface Treatment Co., Ltd. (“ Wuhu Xinkaishun”)                  An entity controlled by management of the Company  
  Anhui Pinqian Renewable Resources Utilization Co., Ltd. (“ Anhui Pinqian”)        An entity controlled by management of the Company  
  Anhui Liangmao Renewable