Youxin Technology Ltd Files 2024 Annual Report

Ticker: YAAS · Form: 20-F · Filed: Jan 30, 2025 · CIK: 1964946

Sentiment: neutral

Topics: annual-report, 20-F, software

TL;DR

Youxin Tech filed its 2024 20-F, check financials for FY ending Sep 30.

AI Summary

Youxin Technology Ltd filed its annual report on Form 20-F for the fiscal year ending September 30, 2024. The filing, submitted on January 30, 2025, provides details on the company's operations and financial status. The company is incorporated in E9 and its principal executive offices are located in Guangzhou, Guangdong Province, China.

Why It Matters

This filing provides investors with a comprehensive overview of Youxin Technology Ltd's financial performance and business operations for the fiscal year 2024, crucial for investment decisions.

Risk Assessment

Risk Level: medium — As a 20-F filing, it represents an annual report from a foreign private issuer, which may involve different regulatory and disclosure standards compared to domestic US companies.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of Youxin Technology Ltd?

The filing indicates the company's Standard Industrial Classification is 'SERVICES-PREPACKAGED SOFTWARE [7372]', suggesting its primary business is in software services.

When did Youxin Technology Ltd's fiscal year end for this report?

The Conformed Period of Report is 20240930, meaning the fiscal year ended on September 30, 2024.

Where are Youxin Technology Ltd's principal executive offices located?

The business address is listed as Room 1005, 1006, 1007, No. 122 Huangpu Avenue West, Tianhe District, Guangzhou, Guangdong Province, China.

What is the SEC file number for Youxin Technology Ltd?

The SEC File Number is 001-42442.

What type of software is Youxin Technology Ltd likely involved with?

Based on the SIC code 7372 (SERVICES-PREPACKAGED SOFTWARE), the company is likely involved in the development, marketing, and distribution of prepackaged software.

Filing Stats: 4,559 words · 18 min read · ~15 pages · Grade level 13.8 · Accepted 2025-01-30 17:23:10

Key Financial Figures

Filing Documents

Risk Factors

Risk Factors 4 ITEM 4. INFORMATION ON THE COMPANY 56 A. History and Development of the Company 56 B. Business Overview 57 C. Organizational Structure 82 D. Property, Plants and Equipment 82 ITEM 4A. UNRESOLVED STAFF COMMENTS 83 ITEM 5. OPERATING AND FINANCIAL REVIEW AND PROSPECTS 83 A. Operating Results 89 B. Liquidity and Capital Resources 96 C. Critical Accounting Estimates 100 ITEM 6. DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES 101 A. Directors and Senior Management 101 B. Compensation 103 C. Board Practices 105 D. Employees 108 E. Share Ownership 108 ITEM 7. MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS 108 A. Major Shareholders 108 B. Related Party Transactions 111 C. Interests of Experts and Counsel 112 ITEM 8. FINANCIAL INFORMATION 112 A. Consolidated Statements and Other Financial Information 112 B. Significant Changes 112 ITEM 9. THE OFFER AND LISTING 112 A. Offer and Listing Details 112 B. Plan of Distribution 112 C. Markets 112 D. Selling Shareholders 112 E.

Dilution

Dilution 112 F. Expenses of the Issue 112 i Page ITEM 10. ADDITIONAL INFORMATION 113 A. Share Capital 113 B. Articles of Association 113 C. Material Contracts 113 D. Exchange Controls 113 E. Taxation 113 F. Dividends and Paying Agents 119 G. 119 H. Documents on Display 119 I. Subsidiary Information 119 ITEM 11.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 119 ITEM 12.

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES

DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES 120 PART II 120 ITEM 13. DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES 120 ITEM 14. MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS 120 ITEM 15.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 120 ITEM 16. [RESERVED] 121 ITEM 16A. AUDIT COMMITTEE FINANCIAL EXPERT 121 ITEM 16B. CODE OF ETHICS 121 ITEM 16C. PRINCIPAL ACCOUNTANT FEES AND SERVICES 121 ITEM 16D. EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES 122 ITEM 16E. PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS 122 ITEM 16F. CHANGE IN REGISTRANT'S CERTIFYING ACCOUNTANT 122 ITEM 16G. CORPORATE GOVERNANCE 122 ITEM 16H. MINE SAFETY DISCLOSURE 122 ITEM 16I DISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS 122 ITEM 16J INSIDER TRADING POLICIES 122 ITEM 16K CYBERSECURITY 122 PART III 124 ITEM 17.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 124 ITEM 18.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 124 ITEM 19. EXHIBITS 124

SIGNATURES

SIGNATURES 125 ii INTRODUCTION Unless the context otherwise requires, references in this annual report on Form 20-F to the "Company," "Youxin," "we," "us," "our" and other similar designations refer to Youxin Technology Ltd. All references to "common shares" are to our Class A ordinary shares, par value $0.0001 ("Class A Shares"). For fiscal years ended September 30, 2024 , 2023 and 2022 , our reporting currency and functional currency in our financial statements is the United States dollar. Amounts denominated in United States Dollars are states as "$" "dollars" or "USD". Unless otherwise expressly stated or the context otherwise requires, references in this Annual Report to "RMB" are to Renminbi. We report under Generally Accepted Accounting Principles in the United States of America ("GAAP"), as issued by the Financial Accounting Standards Board, or the FASB. None of the financial statements were prepared in accordance with generally accepted accounting principles in the United States. Unless otherwise indicated, or the context otherwise requires, references in this Annual Report to financial and operational data for a particular year refer to the fiscal year of our Company ended September 30 of that year. EMERGING GROWTH COMPANY STATUS We qualify as an "emerging growth company," as defined in the U.S. Jumpstart Our Business Startups Act of 2012, or JOBS Act, and we may take advantage of certain exemptions, including exemptions from various reporting requirements that are otherwise applicable to public traded entities that do not qualify as emerging growth companies. These exemptions include: not being required to comply with the auditor attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, or the Sarbanes-Oxley Act; and not being required to comply with any requirement that may be adopted by the Public Company Accounting Oversight Board regarding mandatory audit firm rotation or a supplement to the auditor's report providin

Forward-looking statements

Forward-looking statements are not guarantees of future performance and are subject to risks and uncertainties. We have based these forward-looking statements on assumptions and assessments made by our management in light of their experience and their perception of historical trends, current conditions, expected future developments and other factors they believe to be appropriate. Important factors that could cause our actual results to differ materially from any future results expressed or implied by the forward-looking statements. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements, including, but not limited to, the factors summarized below: the need to hire additional personnel and our ability to attract and retain such personnel; our estimates regarding expenses, future revenue, capital requirements and needs for additional financing; our dependence on third parties; our ability to compete with other companies who offer products that address similar issues that our future products will address; our financial performance; the period over which we estimate our existing cash and cash equivalents will be sufficient to fund our future operating expenses and capital expenditure requirements; our ability to generate revenue and profit margin under our anticipated contracts which is subject to certain risks; those factors referred to in "Item 3.D. Risk Factors," "Item 4. Information on the Company," and "Item 5. Operating and Financial Review and Prospects," as well as in this Annual Report on Form 20-F generally. These statements are only current predictions and are subject to known and unknown risks, uncertainties, and other factors that may cause our or our industry's actual results, levels of activity, performance, or achievements to be materially different from those anticipated by the forward-looking

IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS

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 A. [Reserved] B. Capitalization and Indebtedness Not applicable. C. Reasons for the Offer and Use of Proceeds Not applicable. D. Risk Factors You should carefully consider the risks described below, together with all of the other information in this Annual Report on Form 20-F. The risks and uncertainties described below are those material risk factors, currently known and specific to us, that we believe are relevant to an investment in our securities. Additional risks and uncertainties not currently known to us or that we now deem immaterial may also harm us. If any of these risks materialize our business, results of operations or financial condition could suffer, and the price of our common shares could decline substantially. Summary Risk Factors We face various legal and operational risks associated with our substantial operations in China. The PRC government has the right to regulate how a China-based company, like us, conducts its business, accepts foreign investments, or lists on a U.S. stock exchange in accordance with laws and regulations. For example, we face risks associated with regulatory approvals of offshore offerings, anti-monopoly regulatory actions, cybersecurity and data privacy, as well as the lack of inspection from the PCAOB. Such regulations may from time to time have an impact on our business operations. Any regulatory action unfavorable to our operations, once taken by the PRC government, could cause the value of our securities to significantly decline or in extreme cases, become worthless. The operational and legal risks associated with being based in and having operations in China also to the extent applicable apply to operations in Hong Kong and Macau which operate under different sets of laws from those of Mainland China. Investing in our ordinary shares involves significant risks. You should carefully consider all of the information in this report and the filings incorporated by reference before mak

View Full Filing

View this 20-F filing on SEC EDGAR

View on Read The Filing