Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 60

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 3
Chunk 60
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ing of our annual general shareholders’ meeting and at least 7 clear days’ notice any other general meeting of our shareholders. A quorum required for a meeting of shareholders, if the Company has more than one shareholder, for so long as any shares of the Company are listed on the Nasdaq capital market, one or more shareholders holding shares that represent not less than one-third of the outstanding shares carrying the right to vote at such general meeting. For these purposes, “clear days”, in relation to a period of notice, means that period excluding (a) the day when the notice is given or deemed to be given and (b) the day for which it is given or on which it is to take effect.

Table of Contents

If we are classified as a Passive Foreign Investment Company (PFIC), U. S. taxpayers who own our Class A Ordinary Shares may have adverse U. S. federal income tax consequences.

A non-U. S. corporation such as ourselves will be classified as a PFIC, for any taxable year if, for such year, either:

  At least 75% of our gross income for the year is passive income; or  

  The average percentage of our assets (determined at the end of each quarter) during the taxable year which produce passive income or which are held for the production of passive income is at le...  
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Passive income generally includes dividends, interest, rents and royalties (other than rents or royalties derived from the active conduct of a trade or business) and gains from the disposition of passive assets. In determining the value and composition of our assets for purposes of the PFIC asset test, the cash we raised in past securities offering will generally be considered to be held for the production of passive income.

If we are determined to be a PFIC for any taxable year (or portion thereof) that is included in the holding period of a U. S. taxpayer who holds our Class A Ordinary Shares, the U. S. taxpayer may be subject to increased U. S. federal income tax liability and may be subject to additional reporting requirements.

Depending on the amount of cash we raised in past offering, together with any other assets held for the production of passive income, it is possible that, for our current taxable year or for any subsequent year, more than 50% of our assets may be assets which produce passive income, in which case we