Company: XXC
Filing Date: 2025-11-18
Form Type: 20-F
Source: 0001213900-25-111691
Chunk: 73

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-11-18
Form: 20-F
Item: Item 19
Chunk 73
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INDEX TO CONSOLIDATED FINANCIAL STATEMENTS]

  Consolidated                                                                                        F-3  
  Balance Sheets as of June 30, 2025 and 2024                                                              
  Consolidated                                                                                        F-4  
  Statements of Income and Comprehensive Income for years ended June 30, 2025, 2024 and 2023               
  Consolidated                                                                                        F-5  
  Statements of Changes in Shareholders’ Equity for the years ended June 30, 2025, 2024 and 2023           
  Consolidated                                                                                        F-6  
  Statements of Cash Flows for the years ended June 30, 2025, 2024 and 2023                                
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F-1

REPORT
OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM

To
the Board of Directors and Shareholders

Opinion
on the Financial Statements

We
have audited the accompanying consolidated balance sheets of Xinxu Copper Industry Technology Limited (“the Company”) as
of June 30, 2025 and 2024, and the related consolidated statements of operations and comprehensive income, changes in
shareholders’ equity, and cash flows for each of the three years in the period ended June 30, 2025,
and the related notes (collectively referred to as the financial statements). In our opinion, the financial statements present
fairly, in all material respects, the financial position of the Company as of June 30, 2025, 2024 and 2023, and the results of its
operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United
States of America.

The
Company’s Ability to Continue as a Going Concern

The
accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. As discussed
in Note 2 to the financial statements, the Company has negative cash flow from operating activities, negative working capital,, and
accumulated deficit that raise substantial doubt about its ability to continue as a going concern. Management’s plans in regard
to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome
of this uncertainty.

Basis
for Opinion

These
financial statements are the responsibility of the Company’s management. Our responsibility is to express an opinion on these financial
statements based on our audit. We are