0001213900-26-034008
SEC filingTexxon 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.