Company: XXC
Filing Date: 2025-08-05
Form Type: F-1/A
Source: 0001213900-25-071711
Chunk: 114

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-08-05
Form: F-1/A
Chunk 114
---
 general corporate purposes. We do not intent to pay off our debt obligations from the proceeds of this offering. Changing circumstances may cause us to consume capital significantly faster than we currently anticipate. The amounts and timing of our actual expenditures will depend upon numerous factors, including sales efforts, the development efforts and the global economic environment. The foregoing represents our current intentions based upon our present plans and business conditions to use and allocate the net proceeds of this offering. Our management, however, will have significant flexibility and discretion to apply the net proceeds of this offering. If an unforeseen event occurs or business conditions change, we may use the proceeds of this offering differently than as described in this prospectus. In utilizing the proceeds from this offering, we are permitted under PRC laws and regulations to provide funding to our PRC subsidiaries only through loans or capital contributions, and only if we satisfy the applicable government registration and approval requirements. While we currently see no material obstacles to complete the filing and registration procedures with respect to future capital contributions and loans to our PRC subsidiaries, we cannot assure you that we will be able to complete these filings and registrations on a timely basis, or at all. We intend to convert most of the proceeds to RMB through our PRC subsidiaries and further develop our business within the business scope of our PRC subsidiaries. In order to use the proceeds of this offering, we intend to seek the government registration or approvals after this offering. According to the relevant PRC regulations on foreign -investedenterprises in China, there are no quantity limits on our ability to make capital contributions to our PRC subsidiaries. However, our WFOE, which is a foreign -investedenterprise, may not procure loans which exceed the difference between its registered capital and its total investment amount as recorded in the Foreign Investment Comprehensive Management Information System. According to SAFE Circular19, RMB converted from the foreign currency -denominatedcapital of a foreign -investedcompany may not be directly or indirectly used for purposes beyond its business scope. According to SAFE Circular16, using RMB capital converted from foreign currency -denominatedregistered capital of a foreign -investedcompany to grant loans to associated enterprises is permitted. See “ Risk Factors — Risks Related to Doing Business in China — PRC regulation of loans to and direct investment in our PRC subsidiaries by offshore holding companies and governmental control of currency conversion may delay us from using the proceeds of this offering to make loans or additional capital contributions to our PRC subsidiaries, which could materially and adversely affect our liquidity and our ability to