Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 118

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 118
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 products offered by these insurance companies, which may limit the ability of auto insurance aftermarket value-added service providers, such as the YSX Operating Companies, to expand business operations as rapidly as desired to increase market shares. On the other hand, insurance brokerages can offer more diversified value-added services to insurance policy holders, because these insurance brokerages can offer insurance products from multiple insurance companies. As a result, establishing business cooperation with insurance brokerages may lead to increased value-added service volume than solely cooperation with specific insurance companies. For the fiscal year ended March 31, 2023, approximately 57% of our auto insurance aftermarket value-added service contracts were obtained from various insurance brokerages. For the fiscal years ended March 31, 2025 and 2024, approximately 73.4% and 73% of the YSX Operating Companies’ auto insurance aftermarket value-added service contracts were obtained from insurance brokerages and only approximately 26.6% and 27% of our contracts were obtained from insurance companies, respectively. Because of this business development, we increased our auto insurance aftermarket value-added service volume by providing services to more insurance policy holders located in expanded geographic markets. Specifically, our service contracts with insurance brokerages in fiscal year 2025 required us to perform more vehicle driving risk screening services for insurance policy holders. As a result, the total service volume increased by 0.93 million service calls, or 24.6%, as compared to fiscal year 2024. Our service contracts with insurance brokerages in fiscal year. 2024 required us to perform more vehicle maintenance related services for insurance policy holders as a result, the total service volume increased by 1.02 million service calls, or 37.0%. However, because more auto insurance aftermarket value-added service contracts were obtained from various insurance brokerages to diversify our service mix, although we expanded our market, our average price increased by $1.4 per service call, or 11.7%, from fiscal year 2024, and our average price decreased by approximately $3.4, or 21.6%, from fiscal year 2023 as a result of changes in our service mix.

The overall increase in our revenue generated from providing auto insurance aftermarket value-added services in fiscal year 2025 and fiscal year 2024 reflected the above combined factors.

For the years ended March 31, 2025, 2024 and 2023, the YSX Operating Companies provided auto insurance aftermarket value-added service to a related party,