Company: XXC
Filing Date: 2025-11-18
Form Type: 20-F
Source: 0001213900-25-111691
Chunk: 96

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-18
Form: 20-F
Item: Item 19
Chunk 96
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 and $ 364,771, respectively.

Short-term borrowings
from four third-party individuals are unsecured and subject to annual interest rate of3.5%. The interest expenses for the fiscal years
ended June 30, 2025, 2024 and 2023 amounted to $29,444, $30,570, and39,724respectively.

The Company’s short-term bank
borrowings are pledged by the assets listed below, and guaranteed by the Company’s major shareholder, his immediate family members,
related-party companies and third-party companies.

                                   As of June 30,                                          
                                   2025                               2024                 
 ───────────────────────────────────────────────────────────────────────────────────────────
  Land use right, net              $                     729,879      $           737,261  
  Property and equipment, net                          3,421,585                3,711,153  
  Inventory                                            2,358,111                2,089,711  
  Total                            $                   6,509,575      $         6,538,125  

NOTE 11 - GOVERNMENT LOANS

The Company received a new
interest-free government loan in the amount of RMB4,000,000in January 2024. As of June 30, 2025 and 2024, non-current liabilities
included interest-free government loans in the amount of $1,116,757and $1,100,837, respectively, which will become rewards from
the government once the Company successfully gets listed on the U. S. stock market. The subsidiary of the Company, Anhui Xinxu, uses
its own assets, including equipment and real property, to provide counter-guarantee to Wuhu County Small and Medium Enterprise Financing
Guarantee Limited, which will provide the full amount guarantee to Wuhu Financial Bureau for the loan repayment. In case the Company fails
to successfully get listed on the U. S. stock market within the lending period, the Company must return the full amount plus interest
at the lending rate of People’s Bank of China.

NOTE 12 - ACCOUNTS PAYABLE

Accounts payable mainly represent
the amount the Company owes to its suppliers. As of June 30, 2025 and 2024, outstanding accounts payable amounted to $7,212,938and
$8,026,193, respectively.

NOTE 13 - OTHER PAYABLES

Other payables as