Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 133

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 133
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 fiscal years ended March 31, 2025, 2024 and 2023, respectively.

As of March 31, 2025, we had $7,105,085 in cash and cash on hand as compared to $4,283,794 as of March 31, 2024. On December 19, 2024, we closed the IPO of 1,250,000 Class A Ordinary Shares, par value US$0.0001 per share at a public offering price of $4.00 per share. On the IPO closing date, the underwriters exercised their over-allotment option to purchase an additional 187,500 Class A Ordinary Shares, par value US$0.0001 per share at the price of $4.00 per share. Gross proceeds of the IPO, including the proceeds from the sale of the over-allotment shares, totaled $5.75 million, before deducting underwriting discounts and other related expenses, resulting in net proceeds of approximately $5.0 million. The proceeds received from the completion of the IPO strengthened our cash position as of March 31, 2025.

As of March 31, 2025, we had $17,606,279 in net accounts receivable from third-party customers and accounts receivable of $5,381,535 from related party customers. Our accounts receivable primarily included balances due from customers (including insurance companies and brokerages and other customers) for our services rendered, where our performance obligations had been satisfied and our fees had been billed but had not been collected as of the balance sheet date. Approximately 97.9% of the March 31, 2024 accounts receivable balance was collected by the end of August 2024. For the accounts receivable balance as of March 31, 2025, approximately 67.5% has been subsequently collected as of the date of this annual report and the remaining balance is expected to be collected by the end of August 2025:

                                           Balance as of                                                      % of        
                                           March 31,                          Subsequent                      subsequent  
  Accounts receivable by aging bucket      2025                               collection                      collection  
  Less than 6 months                       $                  17,650,236      $               12,331,018      69.9        
  From 7 to 9 months                                              18,586                      —               0.0         
  From 10 to 12 months                                                 —                      —               0