Company: XXC
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052817
Chunk: 10

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 10
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 completely in 2022. On December 29, 2022, a legislation entitled “ the Consolidated Appropriations Act, 2023 ” (the “CAA”) was signed into law. The CAA, among other things, reduced the number of consecutive non -inspection years required for triggering the prohibitions under the Holding Foreign Companies Accountable Act (the “HFCA Act”) as it was originally passed from three years to two, and thus, reduced the time before our shares may be prohibited from trading or delisted. Each year, the PCAOB will determine whether it can inspect and investigate completely audit firms in mainland China and Hong Kong, among other jurisdictions. If the PCAOB determines in the future that it no longer has full access to inspect and investigate completely accounting firms in certain jurisdictions and we use an accounting firm headquartered in one of such jurisdictions to issue an audit report on our financial statements filed with the SEC, we would be identified as a n issuer identified by the SEC (“ Commission -Identified Issuer ”) following the filing of the annual report on Form 20 -F for the relevant fiscal year. There can be no assurance that we would not be identified as a Commission -Identified Issuer for any future fiscal year, and if we were so identified for two consecutive years, we would become subject to the prohibition on trading under the HFCA Act. See “ Risk Factors — Risks Related to Doing Business in China — Our ordinary shares may be delisted under the HFCA Act if the PRC adopts positions at any time in the future that would prevent the PCAOB from continuing to inspect or investigate completely accounting firms headquartered in mainland China or Hong Kong. The delisting of our ordinary shares, or the threat of their being delisted, may materially and adversely affect the value of your investment. Furthermore, the U .S. Senate passed the CAA , which amends the HFCA Act and requires the SEC to prohibit an issuer’s securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three, thus reducing the time before our ordinary shares may be prohibited from trading or delisted. The HFCA Act, the CAA which amends the HFCA Act, together with joint statement by the SEC and PCAOB, the PCAOB’s determinations, and the

Nasdaq rule changes, all call for additional and more stringent criteria to be applied to emerging market companies upon assessing the qualification of their auditors, especially the non -U