Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 78

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 4
Chunk 78
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 certain tasks of certain projects to other vendors.

For the fiscal years ended March 31, 2025, 2024 and 2023, the YSX Operating Companies provided other scenario-based customized services to 18, 17 and 12 customers, and generated $7,437,448, $11,764,389 and $3,537,667, or 10.4%, 20.1%, and 7.2%, respectively, of the total revenue.

Table of Contents

Customers

The majority of YSX Operating Companies’ customers are insurance companies and brokerages located in Guangdong Province and Xingjian Province. Some of the YSX Operating Companies customers are well known and established companies, such as PICC, PingAn, CPIC, and CUIG. Large insurance companies, such as PICC and Ping An, have strict requirements for their service providers. As a selection process, these companies invite service providers to participate in annual or bi-annual bidding to compete for service orders, based on qualifications such as past service experience, technical capabilities and capital reserve, among others. On the other hand, smaller insurance companies and brokerages’ procure outside services typically through customary application/approval processes.

The YSX Operating Companies strive to offer high quality services at competitive prices, and such customer-oriented approach has helped the YSX Operating Companies establish close working relationships with its customers. These relationships allow the YSX Operating Companies to better anticipate and respond to customers’ needs, which we believe further enhances customer loyalty.

For the fiscal years ended March 31, 2025, 2024 and 2023, the YSX Operating Companies serviced a total of 46, 49 and 52 customers, respectively, among which, 25, 25 and 31, for each respective year, were insurance companies or brokerages, and the rest were technology companies, manufacturing companies and trade companies.

For the fiscal year ended March 31, 2025, there were four customers each accounted for more than 10% of our total revenue, at 27.8%, 23.5%, 21.6% and 16.0%, respectively. For the fiscal year ended March 31, 2024, there were four customers each accounted for more than 10% of our total revenue, at 20.4%, 18.4%, 17.1% and 13.0%, respectively. For the fiscal year ended March 31, 2023, three customers each