Company: XXC
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052817
Chunk: 128

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 128
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 accounts payable of approximately $52.95million primarily due to the payment we made to our electrolytic copper suppliers. During the fiscal year ended June30, 2023, we received a large volume of orders from our customers to purchase electrolytic copper. As a result, we purchased electrolytic copper from our suppliers to fulfil these orders, which caused a significant increase in accounts payable as of June30, 2023. As of June30, 2024, we delivered all such orders to our customers and paid off our accounts payable to suppliers, which significantly reduced our accounts payable balance; and 71 (v)a decrease in advance from customers of approximately $3.61million primarily due to delivery of electrolytic copper to customers during the fiscal year ended June30, 2024. During June 2023, we received a large volume of orders from our customers to purchase electrolytic copper, and some of the customers were required to pay a certain amount of advance deposit. During the fiscal year ended June30, 2024, we delivered all orders to our customers which offset the advance payment from customers. Investing Activities: Net cash used in investing activities was approximately $2.09 million for the fiscal year ended June30, 2024, which was primarily attributable to the acquisition of fixed assets during the fiscal year. Net cash provided by investing activities was approximately $1.79million for the fiscal year ended June30, 2023, which was primarily attributable to the collection of loan receivable during the 2023 fiscal year, partially offset by the acquisition of fixed assets. Financing Activities: Net cash used in financing activities was approximately $0.65 million for the fiscal year ended June30, 2024, which was primarily attributable to (1) net proceeds received from short -termborrowings of approximately $0.51 million; (2) proceeds of long -termborrowings of approximately $0.55 million; and (3) net repayment to related parties of approximately $1.72 million. Net cash used in financing activities was approximately $0.53million for the fiscal year ended June30, 2023, which was primarily attributable to the net proceeds received from short -termborrowings with an approximately amount of $8.15million, the net repayments of short -termborrowings of approximately $6.74million, net proceeds received from related parties of $4.51million, and payments to related parties of approximately $6.46million. Contractual Obligations