Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 237

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 19
Chunk 237
---
1,860,349 $ 623,165
Less: current portion of long-term loans ( 578,775) ( 138,481)
Total long-term loans, non-current $ 1,281,574 $ 484,684
(5)On September 13, 2023, Xihang, entered into a loan agreement with BOC to borrow RMB3.4million (approximately $468,533) as working capital fortwo years, with loan maturity date on September 12, 2025 and multiple loan repayment with first loan repayment of RMB340,000starting January 2, 2024 and additional RMB340,000repayment ona semi-annual basisthereon. In addition, on September 15, 2023, Xihang entered into another loan agreement with BOC to borrow additional RMB1.6million (approximately $220,486) as working capital fortwo years, with loan maturity date on September 14, 2025 and multiple loan repayment with first loan repayment of RMB160,000starting January 2, 2024 and additional RMB160,000repayment ona semi-annual basisthereon. The loans variable interest rates are based on the prevailing interestrates set by the People’s Bank of China at the time of borrowing, plus25basis points, and the effective interest rate is3.70% per annum. Pursuant to loan agreements, Xihang is (i) required to maintain the asset-liability ratio less than70%; (ii) must obtain a written consent from the bank if the borrower conducts any activities associated with business merger, acquisition, spinoff, reduction of the registered capital, share transfer, investment to external parties, significant transfer of assets and liabilities, etc.; (iii) subject to the inspection and monitoring by BOC bank and must provide a fund usage report to BOC on a monthly basis; (iv) must prioritize repayment of bank borrowing in the event of any other liquidation transaction; (v) not allowed to declare shareholder dividends until repayment of the loan; and (vi) not allowed to dispose of its assets through lowering down its debt payment ability and promise to maintain the maximum external guarantee amount below the limit as set forth in the borrower’s articles of incorporation. If there is any violation of any of these loan covenant requirements, BOC has the right to terminate the loan agreements and request Xihang to repay the loans in advance before the maturity dates. There is