Company: XXC
Filing Date: 2025-11-28
Form Type: POS AM
Source: 0001213900-25-115625
Chunk: 127

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-28
Form: POS AM
Chunk 127
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 to adjustment. Revenue is recognized when control of the processed products is transferred to the customer, which typically occurs at delivery acceptance. The Company is a principal since no third party is involved in satisfying the Company’s performance obligations. 72 Revenues are reported net of all value added taxes. As the Company’s standard payment terms are less than one year, the Company has elected the practical expedient under ASC 606 -10-32-18to not assess whether a contract has a significant financing component. The Company allocates the transaction price to each distinct product based on their relative standalone selling price. Recent Accounting Pronouncements The Company considers the applicability and impact of all accounting standards updates (“ASU”). Management periodically reviews new accounting standards that are issued. Recently adopted Accounting Standards In December 2019, the FASB issued ASU 2019 -12, Simplifying the Accounting for Income Taxes, which removes specific exceptions to the general principles in Topic 740 and simplifies accounting for income taxes. The guidance is effective for public business entities for fiscal years beginning after December 15, 2020, and for interim periods within those fiscal years. Effective July1, 2021, the Company adopted this new standard on a retrospective basis, and this update did not have a material impact on the Company’s consolidated financial position, results of operations and cash flows. In January 2020, the FASB issued ASU 2020 -01, Investments -EquitySecurities (Topic 321), Investments -EquityMethod and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815, which clarifies the interaction of the accounting for equity investments under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. The guidance is effective for public business entities for fiscal years beginning after December15, 2021 and for interim periods within those fiscal years. Effective July1, 2021, the Company early adopted this new standard on a retrospective basis, and this update did not have a material impact on the Company’s consolidated financial position, results of operations and cash flows. Other accounting standards that have been issued by the FASB or other standards -settingbodies are not expected to have a material effect on the Company’s financial position, result of operations or cash flows. Off-balance Sheet Commit