Company: XXC
Filing Date: 2025-11-28
Form Type: POS AM
Source: 0001213900-25-115625
Chunk: 98

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-28
Form: POS AM
Chunk 98
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 25% of the equity by value. Our status as a PFIC is a fact -intensivedetermination made on an annual basis. Accordingly, our U.S. counsel expresses no opinion with respect to our PFIC status and also expresses no opinion with regard to our expectations regarding our PFIC status. For a more detailed discussion of the application of the PFIC rules to us and the consequences to U.S. taxpayers who own our ordinary shares if we were determined to be a PFIC, see “ Taxation — Material United States Federal Income Tax Considerations — Passive Foreign Investment Company.” The MAA contains anti-takeover provisions could have a material adverse effect on the rights of holders of our ordinary shares. Some provisions of our articles of association may discourage, delay or prevent a change in control of our company or management that shareholders may consider favorable, including provisions that authorize our board of directors to issue shares at such times and on such terms and conditions as the board of directors may decide without any further vote or action by our shareholders. Under Cayman Islands law, our directors may only exercise the rights and powers granted to them under our MAA for what they believe in good faith to be in the best interests of our company and for a proper purpose. Our Chief Executive Officer and director, Mr. Jinchun Cheng, has control over our company. His interests may not be aligned with the interests of our other shareholders, and he could prevent or cause a change of control or other transactions. As of the date of this prospectus, Jinchun Cheng, our Chief Executive Officer and director, beneficially owns an aggregate of 78.50% of our outstanding ordinary shares. Upon the completion of this offering, Mr.Cheng will beneficially own approximately 15,700,000 ordinary shares, or approximately 73.02% of our outstanding ordinary shares assuming no exercise of the underwriters’ over -allotmentoption. Accordingly, Mr.Cheng could have control in determining the outcome of any corporate transaction or other matter submitted to the shareholders for approval, including mergers, consolidations, the appointment of directors and other significant corporate actions. In cases where his interests are aligned, he will also have the power to prevent or cause a 50 change in control. Without the consent of Mr.Cheng, we may be prevented from entering into transactions that could be beneficial to us or our minority shareholders. In addition, Mr.Cheng could violate his fiduciary duties by diverting business opportunities from us to himself or others. The interests