Company: XXC
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052817
Chunk: 287

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 287
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 June 2024 and 2023 after the making up for the previous year’s accumulated deficit, there was no statutory surplus reserve to be booked for the fiscal years ended on June 30, 2024 and 2023. As a result of these PRC laws and regulations and the requirement that distributions by PRC entities can only be paid out of distributable profits computed in accordance with PRC GAAP, the PRC entities are restricted from transferring a portion of their net assets to the Company. Amounts restricted include paid -incapital, additional paid -incapital and the statutory reserves of the Company’s PRC subsidiaries. The aggregate amounts of capital and statutory reserves restricted which represented the amount of net assets of the relevant subsidiaries in the Company not available for distribution was $5,487,069 as of June 30, 2024 and 2023. NOTE 24 — INCOME TAXES Enterprise Income Taxes (“EIT”) Xinxu Group is incorporated in Cayman Island as an offshore holding company and is not subject to tax on income or capital gain under the laws of Cayman Island. HK Xinxu is established in Hong Kong and is subject to statutory income tax rate at 16.5%. Anhui Heri Ltd. is established in PRC and is subject to statutory income tax rate at 25%. Anhui Xinxu Ltd. is the Company’s main operating subsidiary in PRC. Anhui Xinxu is a High -NewTechnology Enterprise and has an applicable EIT rate of 15%. As of June 30, 2024, the tax years ended December 31, 2018 through December 31, 2023 for the Company’s PRC entities remain open for statutory examination by PRC tax authorities. The Company evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of June 30, 2024, and 2023, the Company did not have any significant unrecognized uncertain tax positions. The Company did not incur any interest and penalties related to potential underpaid income tax expenses for the fiscal years ended June 30, 2024, and 2023, respectively, and also does not anticipate any significant increases or decreases in unrecognized tax benefits in the next 12 months from December 31, 2023. The PRC tax authorities may impose late payment fees and other penalties for the unpaid taxes according to the applicable