Company: JSKJ
Filing Date: 2025-11-17
Form Type: F-1
Source: 0001477932-25-008401
Chunk: 226

Company: Jiansu (Shanghai) Information Technology Co., Ltd
Filing Date: 2025-11-17
Form: F-1
Chunk 226
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 practical expedient in ASC 606-10-25-18B, the Company accounts for shipping and handling activities related to contracts with customers as costs to fulfil the promise to transfer the associated products. The Company records the related costs as selling expense.

Disaggregation of Revenue

All the Company’s revenue from sale of chemical and plastic raw material and other products were recognized at a point of time.

| F-8 |

The Company disaggregates its revenue on the basis of product categories as follows:

|                   |     | For the Fiscal Year Ended June 30, |        2024 |     |     |        2023 |
|:------------------|:----|:-----------------------------------|------------:|:----|:----|------------:|
| Chemical products |     | $                                  | 459,370,162 |     |     | 346,744,547 |
| Plastic products  |     |                                    |  61,124,868 |     |     | 137,416,396 |
| Other products    |     |                                    |  32,031,152 |     |     |   5,271,397 |
| Total revenue     |     | $                                  | 552,526,182 |     |     | 489,432,340 |

Government Grants

Government grants are recognized when there is reasonable assurance that the Company will comply with the conditions attached to them and the grants will be received. Government grants for the purpose of giving immediate financial support to the Company with no future related costs or obligation are recognized in “other income” in the Company’s consolidated statements of comprehensive income when such grants are received.

For the fiscal years ended June 30, 2024 and 2023, the Company received government grants from the local PRC government authorities in recognition of achieving annual sales targets of $162,828 and $15,712, respectively.

Cash and Cash Equivalents

Cash and cash equivalents primarily consist of cash and deposits with financial institutions which are unrestricted as to withdrawal and use. Cash equivalents consist of highly liquid investments that are readily convertible to cash generally with original maturities of three months or less.

Restricted Cash

The Company’s restricted cash mainly represents the secured deposits held in designated bank accounts for issuance of letters of credit and bank guarantee. As of June 30, 2024 and June 30, 2023, restricted cash was $10,853,226 and $38,273,433, respectively.

Financial Instruments and Current Expected Credit