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Youxin Technology Ltd

For the period ended Sep 30, 2024. Filed Jan 30, 2025.

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About this filing

The yearly report of a company based outside the US. It covers much of what a 10-K does, and may follow accounting rules other than US ones.

FY2024 · Filed Jan 30, 2025

YAAS$0.75+2.2%Stored close · as of Nov 6, 2026
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**UNITED STATES

SECURITIES AND EXCHANGE COMMISSION****

WASHINGTON, DC 20549

FORM 20-F

☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended September 30,2024

OR

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

OR

☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Date of event requiring this shell company report ____________

For the transition period from ____________ to ____________

Commission File No.:001-42442

Youxin Technology Ltd

(Exact name of registrant as specified in its charter)

Translation of registrant’s name into English: Not applicable

Cayman IslandsRoom 1005, 1006, 1007, No. 122 Huangpu Avenue West, Tianhe District, Guangzhou, Guangdong Province People’s Republic of China, 510000
(Jurisdiction of incorporation or organization)(Address of principal executive offices)

Shaozhang Lin

Chief Executive Officer

Room 1005, 1006, 1007, No. 122 Huangpu Avenue West,

Tianhe District**, Guangzhou****, Guangdong Province

People’s Republic of China,****510000

Tel: +86 **13631357745

Email: ir@youxin.cloud

(Name, Telephone, E-mail and/or Facsimile number and Address of Company Contact Person)

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class to be registeredTrading Symbol(s)Name of each exchange on which each class is to be registered
Class A ordinary shares, $0.0001 par value per shareYAASThe Nasdaq Stock Market LLC

Securities registered or to be registered pursuant to Section 12(g) of the Act: None

Securities for which there is a reporting obligation pursuant to Section 15(d) of the Act: None

Number of outstanding shares of each of the issuer’s classes of capital or common stock as of September 30, 2024:22,304,693 Class A ordinary shares.

Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes☐ No ☒

If this report is an annual or transition report, indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15(d) of the Exchange Act of 1934. Yes☐ No ☒

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months. Yes ☒ No☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or an emerging growth company.

Large accelerated filer ☐Accelerated filer ☐Non-accelerated filer ☒
Emerging Growth Company ☒

If an emerging growth company that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.☐

†The term “new or revised financial accounting standard” refers to any update issued by the Financial Accounting Standards Board to its Accounting Standards Codification after April 5, 2012.

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☐

If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements.☐

Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐

Indicate by check mark which basis of accounting the registrant has used to prepare the financial statements included in this filing.

U.S. GAAP ☒International Financial Reporting Standards as issued by the International Accounting Standards Board ☐Other ☐

If “Other” has been checked in response to the previous question, indicate by check mark which financial statement item the registrant has elected to follow.☐ Item 17☐ Item 18

If this is an annual report, indicate by check mark whether the registrant is a shell company. Yes☐ No☒

TABLE OF CONTENTS

Page
INTRODUCTION1
EMERGING GROWTH COMPANY STATUS1
CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS2
MARKET, INDUSTRY, AND OTHER DATA3
PART I4
ITEM 1.IDENTITY OF DIRECTORS, SENIOR MANAGEMENT AND ADVISERS4
ITEM 2.OFFER STATISTICS AND EXPECTED TIMETABLE4
ITEM 3.KEY INFORMATION4
A.[Reserved]4
B.Capitalization and Indebtedness4
C.Reasons for the Offer and Use of Proceeds4
D.Risk Factors4
ITEM 4.INFORMATION ON THE COMPANY56
A.History and Development of the Company56
B.Business Overview57
C.Organizational Structure82
D.Property, Plants and Equipment82
ITEM 4A.UNRESOLVED STAFF COMMENTS83
ITEM 5.OPERATING AND FINANCIAL REVIEW AND PROSPECTS83
A.Operating Results89
B.Liquidity and Capital Resources96
C.Critical Accounting Estimates100
ITEM 6.DIRECTORS, SENIOR MANAGEMENT AND EMPLOYEES101
A.Directors and Senior Management101
B.Compensation103
C.Board Practices105
D.Employees108
E.Share Ownership108
ITEM 7.MAJOR SHAREHOLDERS AND RELATED PARTY TRANSACTIONS108
A.Major Shareholders108
B.Related Party Transactions111
C.Interests of Experts and Counsel112
ITEM 8.FINANCIAL INFORMATION112
A.Consolidated Statements and Other Financial Information112
B.Significant Changes112
ITEM 9.THE OFFER AND LISTING112
A.Offer and Listing Details112
B.Plan of Distribution112
C.Markets112
D.Selling Shareholders112
E.Dilution112
F.Expenses of the Issue112

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Page
ITEM 10.ADDITIONAL INFORMATION113
A.Share Capital113
B.Articles of Association113
C.Material Contracts113
D.Exchange Controls113
E.Taxation113
F.Dividends and Paying Agents119
G.Statement by Experts119
H.Documents on Display119
I.Subsidiary Information119
ITEM 11.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK119
ITEM 12.DESCRIPTION OF SECURITIES OTHER THAN EQUITY SECURITIES120
PART II120
ITEM 13.DEFAULTS, DIVIDEND ARREARAGES AND DELINQUENCIES120
ITEM 14.MATERIAL MODIFICATIONS TO THE RIGHTS OF SECURITY HOLDERS AND USE OF PROCEEDS120
ITEM 15.CONTROLS AND PROCEDURES120
ITEM 16.[RESERVED]121
ITEM 16A.AUDIT COMMITTEE FINANCIAL EXPERT121
ITEM 16B.CODE OF ETHICS121
ITEM 16C.PRINCIPAL ACCOUNTANT FEES AND SERVICES121
ITEM 16D.EXEMPTIONS FROM THE LISTING STANDARDS FOR AUDIT COMMITTEES122
ITEM 16E.PURCHASES OF EQUITY SECURITIES BY THE ISSUER AND AFFILIATED PURCHASERS122
ITEM 16F.CHANGE IN REGISTRANT’S CERTIFYING ACCOUNTANT122
ITEM 16G.CORPORATE GOVERNANCE122
ITEM 16H.MINE SAFETY DISCLOSURE122
ITEM 16IDISCLOSURE REGARDING FOREIGN JURISDICTIONS THAT PREVENT INSPECTIONS122
ITEM 16JINSIDER TRADING POLICIES122
ITEM 16KCYBERSECURITY122
PART III124
ITEM 17.FINANCIAL STATEMENTS124
ITEM 18.FINANCIAL STATEMENTS124
ITEM 19.EXHIBITS124
SIGNATURES125

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ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.