Big Tree Cloud Holdings Files 2024 Annual Report

TL;DR

Big Tree Cloud Holdings filed its 2024 20-F, covering operations through June 30.

AI Summary

Big Tree Cloud Holdings Ltd. filed its annual report on Form 20-F for the fiscal year ended June 30, 2024. The company, incorporated in the Cayman Islands, operates in the paper and paperboard products sector. Its principal executive offices are located in Shenzhen, China.

Why It Matters

This filing provides investors with the company's audited financial statements and a comprehensive overview of its business operations and risks for the past fiscal year.

Risk Assessment

Risk Level: medium — As a foreign private issuer filing a 20-F, the company is subject to different disclosure and regulatory requirements than domestic US companies, which can present unique risks to investors.

Key Numbers

• 2024 — Fiscal Year End (The report covers the fiscal year ending June 30, 2024.)

Key Players & Entities

• Big Tree Cloud Holdings Ltd (company) — Registrant
• 0001213900-24-090783 (filing_id) — Accession Number
• 20241025 (date) — Filing Date
• June 30, 2024 (date) — Fiscal Year End
• Cayman Islands (jurisdiction) — Place of Incorporation
• Shenzhen (location) — Business Address City

FAQ

Key Financial Figures

• $0.0001 — egistered Ordinary shares, par value US$0.0001 DSY The Nasdaq Stock Market LLC Warran
• $ — ll references in this annual report to "$," "U.S. $," "U.S. dollars" and "dollars
• $1 — .S. dollars were made at RMB7.2672 to US$1.00, the noon buying rate on June 30, 20
• $11.50 — ne Plutonian Common Stock at a price of $11.50 per whole share. "SEC" means the U.S.
• $4,249,352 — which restricted portion amounted to US$4,249,352, US$4,249,352 and US$4,249,352 as of Ju
• $1.9 million — e future. We incurred net losses of US$1.9 million for the year ended June 30, 2022 , a ne
• $0.3 million — ended June 30, 2022 , a net income of US$0.3 million US$0.7 million for the year ended June
• $0.7 million — 2022 , a net income of US$0.3 million US$0.7 million for the year ended June 30, 2023 and 20
• $8.8 million — sh flows from operating activities of US$8.8 million. We had negative cash flows from operat
• $1.5 million — sh flows from operating activities of US$1.5 million for the year ended June 30, 2024. We ha

Filing Documents

• ea0218236-20f_bigtree.htm (20-F) — 1831KB
• ea021823601ex8-1_bigtree.htm (EX-8.1) — 3KB
• ea021823601ex11-1_bigtree.htm (EX-11.1) — 34KB
• ea021823601ex12-1_bigtree.htm (EX-12.1) — 9KB
• ea021823601ex12-2_bigtree.htm (EX-12.2) — 10KB
• ea021823601ex12-3_bigtree.htm (EX-12.3) — 4KB
• ea021823601ex12-4_bigtree.htm (EX-12.4) — 3KB
• ea021823601ex97_bigtree.htm (EX-97) — 21KB
• image_001.jpg (GRAPHIC) — 240KB
• image_002.jpg (GRAPHIC) — 39KB
• 0001213900-24-090783.txt ( ) — 9432KB
• dsy-20240630.xsd (EX-101.SCH) — 84KB
• dsy-20240630_cal.xml (EX-101.CAL) — 68KB
• dsy-20240630_def.xml (EX-101.DEF) — 366KB
• dsy-20240630_lab.xml (EX-101.LAB) — 650KB
• dsy-20240630_pre.xml (EX-101.PRE) — 382KB
• ea0218236-20f_bigtree_htm.xml (XML) — 1198KB

financial statements are presented in U.S. dollars. All references in this annual report to "$," "U.S. $," "U.S

financial statements are presented in U.S. dollars. All references in this annual report to "$," "U.S. $," "U.S. dollars" and "dollars" mean U.S. dollars, unless otherwise noted. Substantially all of our operations are conducted in China and all of our revenues are denominated in Renminbi. Our reporting currency is the Renminbi. This annual report on Form 20-F also contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader. Unless otherwise stated, all translations from Renminbi to U.S. dollars were made at RMB7.2672 to US$1.00, the noon buying rate on June 30, 2024 set forth in the H.10 statistical release of the U.S. Federal Reserve Board. We make no representation that the Renminbi or U.S. dollar amounts referred to in this annual report could have been or could be converted into U.S. dollars or Renminbi, as the case may be, at any particular rate or at all. The PRC regulators impose control over the foreign currency reserves in part through direct regulation of the conversion of Renminbi into foreign exchange and through restrictions on foreign trade. We completed a merger with Plutonian Acquisition Corp. on June 6, 2024 and our ordinary shares and warrants began trading on the Nasdaq Stock Exchange on June 7, 2024. On October 9, 2023, Plutonian Acquisition Corp., a Delaware corporation ("Plutonian") entered into that certain Agreement and Plan of Merger (as may be amended, supplemented or otherwise modified from time to time, the "Merger Agreement"), by and among Big Tree Cloud International Group Limited, an exempted company incorporated in Cayman Islands ("Holdco"), Big Tree Cloud Holdings Limited, an exempted company incorporated in Cayman Islands ("PubCo"), Big Tree Cloud Merger Sub I Limited, an exempted company incorporated in Cayman Islands and a direct wholly-owned subsidiary of PubCo ("Merger Sub 1"), Big Tree Cloud Merger Sub II Inc., a Delaware corporation and a direct wholly-owned subsidiary of Pu

Forward-looking statements

Forward-looking statements are typically identified by words such as "plan," "believe," "expect," "anticipate," "intend," "outlook," "estimate," "forecast," "project," "continue," "could," "may," "might," "possible," "potential," "predict," "should," "would" and other similar words and expressions, but the absence of these words does not mean that a statement is not forward- looking. Forward-looking statements in this annual report may include, for example, statements about: our business strategies and outcomes; our future business development, financial conditions and results of operations; government regulations governing business operations, and in particular those governing the gaming and entertainment industry; macro-economic conditions in China; and the outcome of any known and unknown litigation and regulatory proceedings. These forward-looking statements are based on information available as of the date of this annual report, and current expectations, forecasts and assumptions, and involve a number of judgments, risks and uncertainties. Accordingly, forward-looking statements should not be relied upon as representing our views as of any subsequent date, and we do not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date they were made, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws. You should not place undue reliance on these forward-looking statements. New risk factors and uncertainties emerge from time to time and it is not possible for our management to predict all risk factors and uncertainties, nor can we assess the impact of all factors on our business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT

ITEM 1. IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS Not applicable.

OFFER STATISTICS AND EXPECTED TIMETABLE

ITEM 2. OFFER STATISTICS AND EXPECTED TIMETABLE Not applicable.

KEY INFORMATION

ITEM 3. KEY INFORMATION Holding Company Structure We are a holding company with no business operations of our own. We conduct all of our operations through our subsidiaries in China, in particular, Guangdong Big Tree Cloud Investment Holding Group Co., Ltd., or Guangdong DSY, and its subsidiaries (collectively, the "PRC Subsidiaries"), and a substantial portion of our assets are located in China. This holding company structure involves unique risks to investors. The following chart illustrates our corporate structure, including our significant subsidiaries as that term is defined under Section 1-02 of Regulation S-X under the Securities Act and certain other subsidiaries, as of the date of this annual report. As a result, our ability to pay dividends depends largely upon dividends paid by our subsidiaries including our mainland China subsidiaries. If our existing mainland China subsidiaries or any newly formed ones incur debt on their own behalf in the future, the instruments governing their debt may restrict their ability to pay dividends to us. In addition, our mainland China subsidiaries are permitted to pay dividends to us only out of their accumulated after-tax profits, if any, as determined in accordance with PRC accounting standards and regulations. Under PRC law, each of our mainland China subsidiaries is required to set aside at least 10% of its after-tax profits each year, if any, to fund certain statutory reserve funds until such reserve funds reach 50% of its registered capital. As a result of such restrictions under PRC laws and regulations, PRC Subsidiaries are restricted in their ability to transfer a portion of their net assets to Holdco either in the form of dividends, loans or advances, which restricted portion amounted to US$4,249,352, US$4,249,352 and US$4,249,352 as of June 30, 2022, 2023 and 2024, respectively. In addition, our subsidiaries in China may allocate a portion of their after-tax profits based on PRC accounting standards to a s

View Full Filing

View this 20-F filing on SEC EDGAR