SEC Comment Letter 0000000000-24-001687 to Youxin Technology Ltd (YAAS)
Youxin Technology Ltd
Date: Feb. 29, 2024 · CIK: 0001964946 · Accession: 0000000000-24-001687
AI Filing Summary & Sentiment
Reasoning
File numbers found in text: 333-274404
Letter
United States securities and exchange commission logo February 12, 2024 Shaozhang Lin Chief Executive Officer Youxin Technology Ltd Room 802, 803, No. 13 Hai’an Road Tianhe District, Guangzhou Guangdong Province, People's Republic of China Re:Youxin Technology Ltd Amendment No. 5 to Registration Statement on Form F-1 Filed February 2, 2024 File No. 333-274404 Dear Shaozhang Lin: We have reviewed your amended registration statement and have the following comment. Please respond to this letter by amending your registration statement and providing the requested information. If you do not believe a comment applies to your facts and circumstances or do not believe an amendment is appropriate, please tell us why in your response. After reviewing any amendment to your registration statement and the information you provide in response to this letter, we may have additional comments. Unless we note otherwise, any references to prior comments are to comments in our January 26, 2024 letter. Amendment No.5 to Registration Statement on Form F-1 Note 3. Summary of Significant Accounting Policies bb. Revision of previously issued Consolidated Statements of Balance Sheets, Operations and Comprehensive Loss..., page F-17 1.We note your response to prior comment 2, however, it remains unclear how you determined that the qualitative factors overcome the quantitative significance of the error. In this regard, while you refer to the dollar impact of this error, on a percentage basis, this error impacted earnings per share by approximately 15% as a percentage of the as- corrected balance. Please explain or as previously requested, revise to label the appropriate columns of the financial statements as restated and have your auditor revise its report to reference the restatement consistent with paragraph 18e of PCAOB Accounting Standard 3101.
FirstName LastNameShaozhang Lin Comapany NameYouxin Technology Ltd February 12, 2024 Page 2 FirstName LastName Shaozhang Lin Youxin Technology Ltd February 12, 2024 Page 2 Please contact Chen Chen at 202-551-7351 or Kathleen Collins at 202-551-3499 if you have questions regarding comments on the financial statements and related matters. Please contact Alexandra Barone at 202-551-8816 or Larry Spirgel at 202-551-3815 with any other questions. Sincerely, Division of Corporation Finance Office of Technology cc: Anthony Basch
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United States securities and exchange commission logo
February 12, 2024
Shaozhang Lin
Chief Executive Officer
Youxin Technology Ltd
Room 802, 803, No. 13 Hai’an Road
Tianhe District, Guangzhou
Guangdong Province, People's Republic of China
Re:Youxin Technology Ltd
Amendment No. 5 to Registration Statement on Form F-1
Filed February 2, 2024
File No. 333-274404
Dear Shaozhang Lin:
We have reviewed your amended registration statement and have the following comment.
Please respond to this letter by amending your registration statement and providing the
requested information. If you do not believe a comment applies to your facts and circumstances
or do not believe an amendment is appropriate, please tell us why in your response.
After reviewing any amendment to your registration statement and the information you
provide in response to this letter, we may have additional comments. Unless we note otherwise,
any references to prior comments are to comments in our January 26, 2024 letter.
Amendment No.5 to Registration Statement on Form F-1
Note 3. Summary of Significant Accounting Policies
bb. Revision of previously issued Consolidated Statements of Balance Sheets, Operations and
Comprehensive Loss..., page F-17
1.We note your response to prior comment 2, however, it remains unclear how you
determined that the qualitative factors overcome the quantitative significance of the error.
In this regard, while you refer to the dollar impact of this error, on a percentage basis, this
error impacted earnings per share by approximately 15% as a percentage of the as-
corrected balance. Please explain or as previously requested, revise to label the
appropriate columns of the financial statements as restated and have your auditor revise its
report to reference the restatement consistent with paragraph 18e of PCAOB Accounting
Standard 3101.
FirstName LastNameShaozhang Lin
Comapany NameYouxin Technology Ltd
February 12, 2024 Page 2
FirstName LastName
Shaozhang Lin
Youxin Technology Ltd
February 12, 2024
Page 2
Please contact Chen Chen at 202-551-7351 or Kathleen Collins at 202-551-3499 if you
have questions regarding comments on the financial statements and related matters. Please
contact Alexandra Barone at 202-551-8816 or Larry Spirgel at 202-551-3815 with any other
questions.
Sincerely,
Division of Corporation Finance
Office of Technology
cc: Anthony Basch