Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 5

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 5
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 practical cooperation mechanism. Furthermore, according to Article 177 of the PRC Securities Law, or “ Article 177,” which became effective in March 2020, no overseas securities regulator is allowed to directly conduct investigations or evidence collection activities within the territory of the PRC. Article 177 further provides that Chinese entities and individuals are not allowed to provide documents or materials related to securities business activities to foreign agencies without prior consent from the securities regulatory authority of the PRC State Council and the competent departments of the PRC State Council. Accordingly, without governmental approval in China, no entity or individual in mainland China may provide documents and information relating to securities business activities to overseas regulators when it is under direct investigation or evidence discovery conducted by overseas regulators. Further, under the Trial Measures, if an overseas securities regulatory agency that intends to carry out investigation and evidence collection regarding overseas offering and listing activities by a domestic company and requests assistance of the CSRC under relevant cross-border securities regulatory cooperation mechanism, the CSRC may provide necessary assistance in accordance with law. As of the date of this annual report, the CSRC and the SEC have communicated on cross-border securities regulatory cooperation mechanisms and signed a Sino-U. S. audit regulatory cooperation agreement on August 26, 2022, but further discussions are needed on how to implement broader cross-border securities regulatory cooperation. The lack of a practical securities regulatory cooperation mechanism between the CSRC and the SEC may result in uncertainties as to the specific procedures and requisite timing for you in obtaining information needed for investigations and litigation conducted outside of mainland China. See “ Risks Relating to Doing Business in the PRC - - Under the PRC Securities Law, the procedures and requisite timing for the U. S. securities regulatory agencies to conduct investigations and collect evidence within the territory of mainland China shall be subject to Chinese laws and regulations.” for more detailed discussion.

Given the Chinese government’s significant oversight and discretion over the conduct of the business of the PRC operating entities, the Chinese government may intervene or influence their operations at any time, which could result in a material change in the operations of the PRC operating entities and/or the value of our Class A Ordinary Shares.

The Chinese government has significant oversight and discretion over the conduct of the PRC operating entities and may intervene or influence their operations at any time as the government deems appropriate to further regulatory, political, and societal goals, which could result in a material change in the operations of the PRC operating entities and/or the value of our Class A Ordinary Shares.

The Chinese government has