Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 134

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 134
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 debt of approximately $6.0 million borrowed from PRC financial institutions as working capital (including short-term loans of $4,131,354, current portion of long-term loans of $578,775, and long-term bank loans of $1,281,574). We expect that we would be able to renew all of our existing bank loans or loans payable upon their maturity based on past experience and our good credit history.

As of March 31, 2025, we had taxes payable of $3,274,881, due to our increased taxable income. We expect to settle our current tax liabilities with local tax authorities within one year.

The balance due to a related party was $141,235 as of March 31, 2025, representing borrowing from a shareholder for working capital purposes during our normal course of business. Such advance was non-interest bearing and due on demand.

As of March 31, 2025, our working capital balance amounted to approximately $28.5 million.

In assessing our liquidity, management monitors and analyzes our cash on-hand, our ability to generate sufficient revenue in the future, and our operating and capital expenditure commitments. We believe that our current cash and operating cash flows, borrowings from banks and from related parties and net proceeds received from the IPO will be sufficient to meet our working capital needs in the next 12 months from the date of issuance of our consolidated financial statements.

For the FiscalYears Ended March 31, 2024 Compared to the Year Ended March 31, 2023

As of March 31, 2024 and as of the date of this annual report, there were no cash transfers among our Cayman Islands holding company and our subsidiary and the VIEs in the PRC in terms of loans or advances or cash dividends. Funds were transferred among the VIEs and their subsidiaries, or YSX PRC Entities, as intercompany loans, and used for working capital purposes and amounted to approximately $2.9 million and approximately $1.4 million during the fiscal years ended March 31, 2024 and 2023, respectively.

As of March 31, 2024, we had $4,283,794 in cash and cash on hand as compared to $3,386,386 as of March 31, 2023. We also had short-term investments of $2,103,762 which were wealth management financial products that we purchased from PRC banks or financial institution with maturities within one year. The banks