Company: YSXT
Filing Date: 2025-07-31
Form Type: 20-F
Source: 0001410578-25-001545
Chunk: 126

Company: YSX Tech Co., Ltd
Filing Date: 2025-07-31
Form: 20-F
Item: Item 5
Chunk 126
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 increased in fiscal year 2025, which led to an increase in our salary and employee benefit expenses in fiscal year 2025; (iii) the amount of expected credit loss expense increased by $418,618, or 303.7%, from $137,831 of credit loss recovery in fiscal year 2024 to $280,787 of credit loss expenses in fiscal year 2025. We generally extend our customers a credit term of 90 days. In fiscal year 2025, a higher amount of credit loss expense was accrued based on the assessment of the collectability of our outstanding accounts receivable balance. Our office expenses decreased by $10,449, or 11.0%, from $94,608 in fiscal year 2024 to $84,159 in fiscal year 2025 as a result of our cost control efforts. Our entertainment and transportation expenses increased by $55,949, or 89.5%, from $62,543 in fiscal year 2024 to $118,492 in fiscal year 2025, primarily due to the increased number of administrative employees to support our expanded business operations in fiscal year 2025. The overall increase in our general and administrative expenses in fiscal year 2025 as compared to fiscal year 2024 reflected the above-mentioned factors combined.

Our general and administrative expenses increased by $500,604, or 44.8%, from $1,116,376 in fiscal year 2023 to $1,616,980 in fiscal year 2024, primarily attributable to (i) our professional and consulting service fees that increased significantly by $317,904, or approximately 37.8%, from $840,396 in fiscal year 2023 to $1,158,300 in fiscal year 2024, mainly due to the increased professional expenses we paid to third-party professionals for business strategy and planning purposes and increased audit fees in connection with our IPO; (ii) our salaries, welfare expenses and insurance expenses paid to administrative employees increased by $58,853, or 20.1%, because the number of our administrative employees increased in fiscal year 2024, which led to an increase in our salary and employee benefit expenses in fiscal year 2024; (iii) the amount of bad debt recovery decreased by $58,071, or 29.6%, from $195,902 of net bad debt recovery in fiscal year 2023 to $137,831 of net bad debt recovery in fiscal year 2024. We