$NPT
Texxon Holding Ltd
CIK:0002014337|SEC Filings
Consolidated Statements of Cash Flows - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Jun. 30, 2025 |
Jun. 30, 2024 |
Jun. 30, 2023 |
|
| CASH FLOWS FROM OPERATING ACTIVITIES: | |||
| Net income (loss) | $ (1,454,132) | $ 2,509,643 | $ 2,087,694 |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | |||
| Depreciation and amortization | 288,072 | 332,728 | 251,081 |
| Interest income from a related party | (34,922) | (592,581) | |
| Allowance (recovery) for credit losses | 720,054 | (1,385) | (220,339) |
| Loss on disposal of property, plant and equipment | 50,236 | ||
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 2,986,453 | (7,512,856) | 3,711,146 |
| Notes receivable | 1,899,032 | (1,896,246) | |
| Inventories | (86,676) | (466,902) | (358,965) |
| Advanced to suppliers | (1,011,848) | 147,725 | (1,447,491) |
| Prepayments and other current assets | (3,315,341) | (559,757) | 117,283 |
| Notes payable | (13,828,757) | (24,696,655) | |
| Accounts payable | (546,002) | (10,429,603) | 4,486,026 |
| Accrued expenses and other current liabilities | 1,231,325 | 1,902,256 | 1,389,576 |
| Contract liabilities | 1,614,022 | (957,134) | 1,043,235 |
| NET CASH PROVIDED BY (USED IN) OPERATING ACTIVITIES | 2,324,959 | (30,795,210) | (14,179,754) |
| CASH FLOWS FROM INVESTING ACTIVITIES: | |||
| Purchase of plant, property and equipment | (45,103,546) | (33,338,925) | (22,615,531) |
| Purchase of intangible assets | (6,805) | (6,683,817) | |
| Payments made for loans to related parties | (152,253) | (11,931,168) | |
| Government grant received in connection with the construction of plant, property and equipment | 2,853,622 | ||
| Loan repayment from a related party | 22,478,306 | ||
| NET CASH USED IN INVESTING ACTIVITIES | (42,249,924) | (11,019,677) | (41,230,516) |
| CASH FLOWS FROM FINANCING ACTIVITIES: | |||
| Proceeds from short-term borrowings | 154,521,737 | 141,956,726 | 22,969,397 |
| Proceeds from long-term borrowings | 30,105,666 | ||
| Repayment of short-term borrowings | (154,473,136) | (127,367,676) | (12,327,428) |
| Capital contribution from non-controlling interests | 2,647,556 | 9,254,357 | 18,260,003 |
| Financing cost paid for the syndicated loan | (1,011,893) | ||
| Withdrawal of capital by non-controlling interests | (1,460,814) | ||
| Capital contribution from shareholder | 1,405,778 | ||
| Payments made to shareholders to acquire Net Plastic Technology for the Reorganization | (12,226,342) | ||
| Proceeds from related parties | 9,663,775 | 19,747,892 | 106,062 |
| Payments made for deferred offering costs | (93,243) | (539,639) | |
| NET CASH PROVIDED BY FINANCING ACTIVITIES | 41,360,462 | 29,364,504 | 30,413,812 |
| EFFECT OF EXCHANGE RATE CHANGE ON CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 24,642 | 1,326,240 | (1,559,510) |
| NET CHANGE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH | 1,460,139 | (11,124,143) | (26,555,968) |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH – beginning of year | 1,058,000 | 12,182,143 | 38,738,111 |
| CASH, CASH EQUIVALENTS AND RESTRICTED CASH – end of year | 2,518,139 | 1,058,000 | 12,182,143 |
| SUPPLEMENTAL CASH FLOW DISCLOSURES: | |||
| Cash paid for income taxes | (10,202) | (432) | (785) |
| Cash paid for interest | (1,942,702) | (549,534) | (361,912) |
| Cash received from interest income | 1,845 | 226,831 | 508,742 |
| SUPPLEMENTAL DISCLOSURE OF NON-CASH ACTIVITIES: | |||
| Payable related to purchase of property, plant, and equipment | 5,318,449 | 6,069,298 | 1,385,669 |
| Prepayment for long-term assets transferred to property, plant and equipment | 19,262,697 | 4,516,656 | |
| Convertible loan transfer to other payables | |||
| Interest receivable accrued related to loan to a related party | 34,922 | 592,581 | |
| Cash and cash equivalents | 2,517,577 | 272,895 | 1,328,917 |
| Restricted cash | 562 | 785,105 | 10,853,226 |
| Total cash, cash equivalents and restricted cash | $ 2,518,139 | $ 1,058,000 | $ 12,182,143 |
Consolidated Balance Sheets |
Jun. 30, 2025
USD ($)
|
Jun. 30, 2024
USD ($)
|
||
|---|---|---|---|---|
| CURRENT ASSETS: | ||||
| Cash and cash equivalents | $ 2,517,577 | $ 272,895 | ||
| Restricted cash | 562 | 785,105 | ||
| Accounts receivable, net | 7,522,465 | 11,094,702 | ||
| Note receivables | 1,885,183 | |||
| Advanced to suppliers | 2,675,445 | 1,632,975 | ||
| Inventories | 973,644 | 873,720 | ||
| Prepayments and other current assets | 6,918,026 | 1,353,457 | ||
| TOTAL CURRENT ASSETS | 20,761,273 | 18,049,402 | ||
| NON-CURRENT ASSETS: | ||||
| Property, plant and equipment, net | 84,623,119 | 23,363,352 | ||
| Intangible assets, net | 6,164,781 | 6,207,309 | ||
| Prepayments for long-term assets | 24,522,149 | 39,307,235 | ||
| Deferred offering costs | 634,978 | 538,584 | ||
| Equity investment | 2,261,433 | 2,229,194 | ||
| TOTAL NON-CURRENT ASSETS | 118,206,460 | 71,645,674 | ||
| TOTAL ASSETS | 138,967,733 | 89,695,076 | ||
| CURRENT LIABILITIES: | ||||
| Short-term borrowings | 20,624,062 | 25,788,560 | ||
| Accounts payable | 763,343 | 1,294,480 | ||
| Contract liabilities | 2,272,179 | 637,537 | ||
| Accrued expenses and other current liabilities | 19,258,940 | 9,790,325 | ||
| TOTAL CURRENT LIABILITIES | 72,744,655 | 57,318,539 | ||
| NON-CURRENT LIABILITIES: | ||||
| Long-term borrowings | 32,175,020 | |||
| TOTAL LIABILITIES | 104,919,675 | 57,318,539 | ||
| Commitments and contingencies (Note 16) | ||||
| SHAREHOLDERS’ EQUITY (DEFICIT): | ||||
| Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 20,000,000 and 20,000,000 shares issued and outstanding as of June 30, 2025 and 2024, respectively.* | [1] | 2,000 | 2,000 | |
| Additional paid-in capital | [1] | 777,992 | 777,992 | |
| Accumulated deficit | (4,316,467) | (3,383,846) | ||
| Accumulated other comprehensive loss | (275,578) | (245,500) | ||
| SHAREHOLDERS’ DEFICIT ATTRIBUTABLE TO TEXXON HOLDING LIMITED | (3,812,053) | (2,849,354) | ||
| Non-controlling interests | 37,860,111 | 35,225,891 | ||
| TOTAL EQUITY | 34,048,058 | 32,376,537 | ||
| TOTAL LIABILITIES AND EQUITY | 138,967,733 | 89,695,076 | ||
| Related Party | ||||
| CURRENT ASSETS: | ||||
| Loan to a related party | 153,554 | 151,365 | ||
| CURRENT LIABILITIES: | ||||
| Due to related parties | $ 29,826,131 | $ 19,807,637 | ||
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