Company: XXC
Filing Date: 2025-06-10
Form Type: F-1/A
Source: 0001213900-25-052817
Chunk: 274

Company: XINXU COPPER INDUSTRY TECHNOLOGY Ltd
Filing Date: 2025-06-10
Form: F-1/A
Chunk 274
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 applicability and impact of all accounting standards updates (“ASU”). Management periodically reviews new accounting standards that are issued. Recently adopted Accounting Standards In December 2019, the FASB issued ASU 2019 -12, Simplifying the Accounting for Income Taxes, which removes specific exceptions to the general principles in Topic 740 and to simplify accounting for income taxes. The guidance is effective for public business entities for fiscal years beginning after December 15, 2020, and for interim periods within those fiscal years. Effective July 1, 2021, the Company adopted this new standard on a retrospective basis, and this update did not have a material impact on the Company’s consolidated financial position, results of operations and cash flows. In January 2020, the FASB issued ASU 2020 -01, Investments -EquitySecurities (Topic 321), Investments -EquityMethod and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815, which clarifies the interaction of the accounting for equity investments under Topic 321 and investments accounted for under the equity method of accounting in Topic 323 and the accounting for certain forward contracts and purchased options accounted for under Topic 815. The guidance is effective for public business entities for fiscal years beginning after December 15, 2021, and for interim periods within those fiscal years. Effective July 1, 2021, the Company early adopted this new standard on a retrospective basis, and this update did not have a material impact on the Company’s consolidated financial position, results of operations and cash flows. Other accounting standards that have been issued by the FASB or other standards -settingbodies are not expected to have a material effect on the Company’s financial position, result of operations or cash flows. NOTE 3 — ACCOUNTS RECEIVABLE Accounts receivable as of June 30, 2024 and 2023 consisted of the following:

|                                       |     |   |       2024 |   |     |   |      2023 |   |
|:--------------------------------------|:----|:--|-----------:|:--|:----|:--|----------:|:--|
| Accounts receivable                   |     | $ | 10,114,565 |   |     | $ | 4,975,644 |   |
| Less: allowance for doubtful accounts |     |   |