Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 64

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 64
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 the PRC, was established in Guangzhou City, China.

A reorganization of the Company’s structure (“ Reorganization”) was completed on December 31, 2022. The Reorganization involved the formation of YSX Cayman, YSX HK and WFOE, and WFOE entering into the VIE Agreements with each of Xinjiang YSX and Xihang, and their respective shareholders. Consequently, the Company became the ultimate holding company of YSX HK and WFOE, with WFOE controlling Xinjiang YSX and Xihang through the VIE Agreements. The Company is the primary beneficiary of the VIEs for accounting purposes, to the extent that it consolidates the financial results of the VIEs in its consolidated statements under U. S. GAAP.

Completion of the Initial Public Offering (“ IPO”)

On December 19, 2024, the Company closed its IPO of 1,250,000 Class A Ordinary Shares, at a public offering price of $4.00 per share. The gross proceeds to the Company from the IPO, before deducting the underwriting discounts, the non-accountable expense allowance, and other expenses, were $5,000,000. On the same day, the underwriters exercised the over-allotment option in full to purchase the additional 187,500 Class A Ordinary Shares, resulting in additional gross proceeds of $750,000, before underwriting discounts and other offering expenses. As a result, the Company raised aggregate gross proceeds of approximately $5.75 million in the IPO, including the full exercise of the over-allotment option, prior to deducting the underwriting discounts and other offering expenses payable by the Company.

The Class A Ordinary Shares were previously approved for listing on The Nasdaq Capital Market and commenced trading under the ticker symbol “ YSXT” on December 18, 2024.

Table of Contents

Corporate Structure

The following chart illustrates our corporate structure as of the date of this annual report.

The VIE Agreements

Neither we nor our subsidiaries own any equity interest in the VIEs. Instead, for accounting purposes, we are the primary beneficiary of the VIEs and receive the economic benefits of each VIEs’ business operations to the extent that we consolidate the financial results of the VIEs in our consolidated statements under U. S. GAAP. The WFOE entered into the VIE Agreements with each VIE (Xinjiang YSX and Xihang)