Company: XXC
Filing Date: 2025-11-18
Form Type: 20-F
Source: 0001213900-25-111691
Chunk: 85

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-18
Form: 20-F
Item: Item 19
Chunk 85
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 to be received in exchange for those goods or services. The Company considers revenue realized or realizable
and earned when all the five following criteria are met: (1) identify the contract with a customer, (2) identify the performance
obligations in the contract, (3) determine the transaction price, (4) allocate the transaction price to the performance obligations
in the contract, and (5) recognize revenue when (or as) the entity satisfies a performance obligation.

For sales of self-manufactured copper
products, the Company considers the customer purchase agreement to be the contract with a customer. As part of its consideration of the
contract, the Company evaluates certain factors including the customer’s ability to pay (or credit risk). For each contract, the
Company considers the promise to transfer products, each of which is distinct, to be the identified performance obligations. In determining
the transaction price, the Company evaluates whether the price is subject to a refund or adjustment to determine the net consideration
to which the Company expects to be entitled. There were no refund claims for defective products. Prices are determined based on negotiations
with the Company’s customers and are not subject to adjustment. Revenue is recognized at a point in time when control of the
products is transferred to the customer (i. e., when the Company’s performance obligation is satisfied at a point in time), which
typically occurs at delivery acceptance by the customer. In the principal versus agent consideration, since no third party is involved
in transactions, the Company is a principal.

For the resale of copper materials,
the Company considers customer purchase agreement to be the contract with a customer. As part of its consideration of the contract, the
Company evaluates certain factors including the customer’s ability to pay (or credit risk). For each contract, the Company considers
the promise to transfer products, each of which is distinct, to be the identified performance obligations. In determining the transaction
price, the Company evaluates whether the price is subject to a refund or adjustment to determine the net consideration to which the Company
expects to be entitled. The Company analyzed historical refund claims for defective products and concluded that they have been immaterial.
Prices are determined based on negotiations with the Company’s customers, and once determined, they are not subject to adjustment. Revenue
is recognized at a point in time when control of the products is transferred to the customer (i. e., when the Company’s performance
obligation is satisfied at a point in time), which typically occurs at delivery acceptance by the