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Texxon Holding Limited is a Cayman Islands holding company conducting operations through PRC subsidiaries, primarily Zhejiang Net Plastic Technology Co., Ltd., which commenced business in 2011. The company provides supply chain management services to SMEs in China's plastics and chemical industries via a technology-enabled platform offering procurement, shipping, logistics, payments, and fulfillment. It aims to become China's largest one-stop raw material platform, leveraging transaction data for price trends and market analysis, and is developing in-house polystyrene manufacturing at its Henan Polystyrene Factory, expected to commence trial production in April 2026. Financially, for FY ended June 30, 2025, Texxon reported a net loss of $1,454,132 (down from $2.5M profit prior year), accumulated deficits of $4.3M, and negative working capital of $52M, though it achieved positive operating cash flow for the first time. This best-efforts F-1 offering seeks up to 1,898,734 ordinary shares at $6.32 (Nasdaq closing price March 19, 2026), for up to $12M gross proceeds (no minimum). Net proceeds (~$10.7M): 70% for Henan factory raw materials, 30% working capital. Post-IPO (Oct 2025: 1.9M shares at $5/share, $9.5M gross), it funds factory ramp-up amid going concern doubts from losses and negative capital, positioning for supply chain dominance and manufacturing integration.
Offering Amount
$12.0M
Shares Offered
500,000,000
Price Range
$6.32 – $6.32
Issuer Type
Shares Offered
1,898,734
Offering Amount
$12,000,000
Price Range
$6.32
Share Type
Ordinary shares
Exchange
Nasdaq
Ticker
NPT
Use of Proceeds: 70% purchase of raw materials for Henan Polystyrene Factory; 30% working capital
Leading provider of supply chain management services in East China for plastics and chemical industries SMEs via technology-enabled platform including procurement, shipping, logistics, payments, fulfillment; developing polystyrene manufacturing at Henan factory.