Company: XXC
Filing Date: 2025-11-18
Form Type: 20-F
Source: 0001213900-25-111691
Chunk: 99

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-18
Form: 20-F
Item: Item 19
Chunk 99
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 2025                     2024                     2023                
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Government grant                                  $           825,799      $           267,768      $            8,888  
  VAT refund                                                          -                   10,293                 128,336  
  Financial guarantee service and bank charges                  ( 5,507                 ( 66,610                ( 70,600  
  Other income                                                  603,535                  419,197                  10,832  
  Other expenses                                              ( 137,990                ( 310,698                ( 38,128  
  Total other income, net                           $         1,285,837      $           319,950      $           39,328  

NOTE 20 - CUSTOMER AND SUPPLIER
CONCENTRATIONS

Significant customers and suppliers
are those that account for greater than 10% of the Company’s revenues and purchases.

The Company sold a substantial
portion of its products to one customer who accounted for approximately18.20% of total sales during the fiscal year ended June 30,
2025. As of June 30, 2025, the receivable due from this customer was $4,876,568, representing51.32% of total accounts receivable.
Other significant concentration of accounts receivable included another customer, who accounted for approximately16.72% of total accounts
receivable for the fiscal year ended June 30, 2025.

The Company sold a substantial
portion of its products to two customers who accounted for approximately40.65% and10.08%, respectively, of total sales during the fiscal
year ended June 30, 2024. As of June 30, 2024, the receivable due from these customers was $4,999,459and $0, respectively,
representing54.50% of total accounts receivable. Other significant concentration of accounts receivable included two other customers,
who accounted for an aggregate of35.84% of total accounts receivable for the fiscal year ended June 30, 2024.

The Company sold a substantial
portion of its products to one customer who accounted for approximately37.02% of total sales during the fiscal year ended June 30,
2023. As of June 30, 2023, the receivable due from this customer was $891,784, representing17.92% of total accounts