YSX TECH. CO. LTD Reports Full Year 2026 Financial Results

Rhea-AI Summary

YSX TECH (NASDAQ: YSXT) reported fiscal year ended March 31, 2026 revenue of $83.5 million, up 16.8% from $71.5 million, driven mainly by a 27.4% rise in auto insurance aftermarket value-added services to $80.8 million and a 28.8% increase in service volumes to over 6.07 million calls.

Vehicle driving risk screening volumes rose 112.1% to about 5.6 million service calls, generating $74.4 million in revenue, up 115.1% year over year. Gross profit slipped 2.6% to $7.2 million and gross margin fell from 10.3% to 8.6% as the mix shifted toward lower-margin value-added services.

Total operating expenses rose 41.2% to $3.7 million, including $1.8 million of new share-based compensation, reducing income from operations to $3.5 million and net income to $2.8 million, down 30.3%. The company ended the year with $5.9 million in cash and working capital of $34.8 million.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Positive

• Total revenue up 16.8% to $83.5 million
• Value-added services revenue up 27.4% to $80.8 million
• Service volumes up 28.8% to over 6.07 million calls
• Risk screening segment revenue up 115.1% to $74.4 million
• General and administrative expenses down 33.6% to $1.5 million
• Working capital of $34.8 million at March 31, 2026

Negative

• Gross margin declined from 10.3% to 8.6%
• Net income down 30.3% to $2.8 million
• Income from operations decreased 26.2% to $3.5 million
• Other customized services revenue down 64.2% to $2.7 million
• Software and IT services revenue down 91.7% to $0.1 million
• Total operating expenses up 41.2% to $3.7 million, including $1.8 million share-based compensation
• Net cash used in operating activities of $2.7 million
• Cash balance declined to $5.9 million from $7.1 million

What This Means

YSX reported FY2026 revenue of $83.5M on 28.8% higher service volumes, but gross margin slipped to 8...

Analysis

YSX reported FY2026 revenue of $83.5M on 28.8% higher service volumes, but gross margin slipped to 8.6% and net income declined to $2.8M. Investors may weigh this scale-driven growth against an active shelf and low short positioning.

Key Figures

Total revenue: $83.5M Service volume: 6.07M calls Risk screening revenue: $74.4M +5 more

8 metrics

Total revenue $83.5M Fiscal year ended March 31, 2026; up 16.8% from $71.5M in FY2025

Service volume 6.07M calls FY2026 total service calls, up 28.8% year over year

Risk screening revenue $74.4M FY2026 vehicle driving risk screening revenue, up 115.1% YoY on 5.6M calls

Net income $2.8M FY2026 net income vs $4.0M in fiscal year ended March 31, 2025

Gross margin 8.6% FY2026 gross margin, down from 10.3% in FY2025

Working capital $34.8M Working capital balance as of March 31, 2026

Cash balance $5.9M Cash on hand as of March 31, 2026, vs $7.1M a year earlier

Share-based compensation $1.8M Non-cash share-based compensation expense in FY2026 (prior year nil)

Previous Earnings Reports

3 past events · Latest: Feb 03 (Positive)

Same Type Pattern 3 events

Date	Event	Sentiment	24h Move	Catalyst
Feb 03	Interim earnings report	Positive	+2.5%	Strong H1 2025 revenue and net income growth led by service volume gains.
Jul 31	Annual earnings report	Neutral	-0.3%	FY2025 revenue growth offset by lower net income and contracting gross margin.
Feb 24	Interim earnings report	Neutral	+1.4%	H1 2024 revenue and volume growth alongside declining margins and net income.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Earnings releases have typically produced modest single-digit share moves, often slightly positive despite recurring margin pressure and mixed bottom-line trends.

Historical Comparison

+1.2% avg move · Across three prior earnings releases, the stock typically moved about 1.22% in either direction, wit...

earnings

+1.2%

Average Historical Move earnings

Across three prior earnings releases, the stock typically moved about 1.22% in either direction, with markets reacting moderately to revenue growth but margin pressure; this full-year update continues that pattern of volume-led growth and thinner profitability.

Recent earnings history shows consistent revenue and service-volume expansion paired with declining gross margins and pressured net income, suggesting a continuing phase of scale-focused growth with profitability lagging.

Regulatory & Risk Context

Active S-3 Shelf · Short Interest: 0.01%

Shelf Active

Short Interest

0.01% of float

0% 15% 30%+

low as of 2026-06-15 Days to cover: 1

Reported short interest appears relatively low, implying limited short-squeeze potential but also less embedded buying support should volatility increase.

Active S-3 Shelf Registration 2026-02-24

An effective Form F-3/A shelf is in place with no recorded usage, providing flexibility for future capital raises or securities issuance if the company chooses.

Key Terms

variable interest entities, working capital, share-based compensation, equity incentive plan, +1 more

5 terms

variable interest entities regulatory

"a Cayman Islands exempted company that, through its variable interest entities in China, provides"

A variable interest entity (VIE) is a business that a company controls through contracts or special arrangements instead of owning a majority of its shares, like steering a puppet without holding its ticket. Investors care because these arrangements can hide who really bears the financial risks and rewards, affect how assets and liabilities appear on financial statements, and create extra legal or enforcement uncertainty that can change the value and risk of an investment.

working capital financial

"With $34.8 million in working capital, we believe that we are well-capitalized"

Working capital is the money a business has available to cover its daily expenses, like paying bills and buying supplies. It’s like the cash in your wallet that helps you handle everyday costs; having enough ensures the business can operate smoothly without running into money shortages.

share-based compensation financial

"Share-based compensation expenses were approximately $1.8 million in the fiscal year"

Share-based compensation is when a company pays employees, executives or directors with its own stock or rights to buy stock instead of, or in addition to, cash. Think of it like receiving store gift cards instead of extra paycheck — it can motivate staff to boost the company’s value, but it also increases the number of shares outstanding and can shrink each existing owner’s slice of profits and voting power. Investors watch it because it affects reported earnings, share count and the alignment between management and shareholders.

equity incentive plan financial

"restricted stock awards granted to employees and consultants under our 2025 Equity Incentive Plan"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

net cash used in operating activities financial

"Net cash used in operating activities amounted to approximately $2.7 million for the fiscal year"

Net cash used in operating activities is the amount of cash a company’s core business operations consumed during a period—essentially cash paid out for everyday activities (like payroll, suppliers and rent) minus cash received from customers. Investors watch it as a measure of whether the business’s day-to-day operations are self-sustaining or draining cash, much like checking whether a household’s regular income covers its monthly bills rather than relying on savings or borrowing.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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16.8% Revenue Growth and 28.8% Service Volumes Increase

GUANGZHOU, China, July 10, 2026 (GLOBE NEWSWIRE) -- YSX TECH. CO., LTD (NASDAQ: “YSXT”) (the “Company”), a Cayman Islands exempted company that, through its variable interest entities in China, provides comprehensive business solutions mainly for insurance companies and brokerages in China, today announced its financial results for the fiscal year ended March 31, 2026.

Management Commentary

"Fiscal 2026 was a year of operational scaling and strategic realignment for YSX," said Mr. Jie Xiao, CEO of YSX TECH. CO., LTD. "We drove our top-line revenue to $83.5 million, representing a 16.8% year-over-year increase, fueled primarily by a 28.8% increase in our service volumes. By intentionally pivoting our business development efforts toward insurance brokerages rather than single insurance companies, we broadened our market reach. This transition led to a 112.1% increase in volume in our vehicle driving risk screening services alone.”

“While this deliberate shift in our service mix toward higher-volume services yielded lower average margins and impacted our near-term net income, the Fiscal 2026 results show that this approach captured enhanced market share, and we believe that it strengthened our position as a competitive intermediary platform. More importantly, we spent the past year laying the technological groundwork for our next phase of growth. Through our newly forged partnerships with active industry participants like Huijian, Qingfeng Automobile Group, and XUnit, we are endeavoring to integrating supply-chain finance, physical dealership networks, and Web3 asset digitization into our ecosystem. With $34.8 million in working capital, we believe that we are well-capitalized to execute this 'Technology + Physical' roadmap and deliver long-term value to our shareholders."

Operational and Strategic Milestones

Strategic Shift Toward Insurance Brokerages

A key driver of the Company's volume growth was its pivot toward partnering with insurance brokerages. Unlike individual insurance companies that restrict services to their own policies, brokerages offer products from multiple carriers, allowing the Company to reach a broader base of policyholders. For the fiscal year ended March 31, 2026, 62.3% of the Company's value-added service contracts were obtained through brokerages.

Surge in Risk Screening Services

Aligning with brokerage demands, the Company expanded its vehicle driving risk screening services. Service volume in this category increased by 112.1% to approximately 5.6 million service calls, generating approximately $74.4 million in revenue, representing a 115.1% year-over-year increase for the segment.

Full Year 2026 Financial Highlights

• Total Revenue increased by $12.0 million, or 16.8%, to $83.5 million for the fiscal year ended March 31, 2026, up from $71.5 million in fiscal year ended March 31, 2025.
• Revenue from auto insurance aftermarket value-added services increased by 27.4% to $80.8 million, accounting for 96.7% of total revenue.
• Over 6.07 million service calls were processed in 2026, an increase of 1.36 million calls, or 28.8%, compared to the prior year.
• Net income was $2.8 million for fiscal 2026, compared to $4.0 million in fiscal year ended March 31, 2025.
• Robust Liquidity as the Company ended the fiscal year with $5.9 million in cash and a working capital balance of $34.8 million.
  

Full Year 2026 Financial Results

Selected Financial Data (in millions USD)	Year Ended March 31, 2026		Year Ended March 31, 2025		Variance (%)
Total Revenue	$83.5		$71.5		16.8%
Value-Added Services	$80.8		$63.4		27.4%
Other Customized Services	$2.7		$7.4		(64.2%)
Software & IT Services	$0.1		$0.6		(91.7%)
Cost of Revenue	$(76.3)		$(64.1)		19.1%
Gross Profit	$7.2		$7.4		(2.6%)
Total Operating Expenses	$3.7		$2.6		41.2%
Income from Operations	$3.5		$4.8		(26.2%)
Net Income	$2.8		$4.0		(30.3%)

Total Revenue

Total revenue increased by approximately $12.0 million, or 16.8%, to approximately $83.5 million for the fiscal year ended March 31, 2026, compared to approximately $71.5 million for the fiscal year ended March 31, 2025. The increase was primarily driven by an increase in revenue from our auto insurance aftermarket value-added services, which grew by approximately $17.4 million, or 27.4%, as the Company secured more service contracts from insurance brokerages and achieved a 28.8% increase in overall service volume (totaling approximately 6.1 million service calls).

This growth was partially offset by a decrease in revenue from our other scenario-based customized services of approximately $4.8 million, or 64.2%, driven by a reduction in the number of customers for such services, and a decrease in revenue from software development and information technology services of approximately $0.6 million, or 91.7%, driven by a reduction in the number of customers for such services.

Cost of Revenue

Cost of revenue increased by approximately $12.2 million, or 19.1%, to approximately $76.3 million for the fiscal year ended March 31, 2026, compared to approximately $64.1 million for the prior fiscal year. This increase was primarily attributable to increased subcontract costs resulting from the volume expansion of our value-added services, as we engaged more external vendors to fulfill the approximately 6.1 million service calls processed during the year. The increase was partially offset by decreased subcontract costs associated with our customized services and IT services business lines.

Gross Profit

Gross profit decreased by approximately $0.2 million, or 2.6%, to approximately $7.2 million for the fiscal year ended March 31, 2026, compared to approximately $7.4 million for the fiscal year 2025. Our gross margin correspondingly decreased from 10.3% in fiscal 2025 to 8.6% in fiscal ended March 31, 2026. The decrease in gross profit and gross margin was primarily attributable to a change in service mix, as more revenue was derived from value-added services, which carry higher costs and lower margins, and less revenue was derived from our customized and IT service lines, which carry higher margins. Additionally, our average price charged to customers for value-added services decreased slightly by 1.1% as a result of changes in the service mix.

Operating Expenses

Total operating expenses increased by approximately $1.1 million, or 41.2%, to approximately $3.7 million for the fiscal year ended March 31, 2026, compared to approximately $2.6 million for the fiscal year ended March 31, 2025. The variance in operating expenses was driven by the following factors:

• Selling expenses decreased by 14.6% to approximately $0.1 million, primarily due to lower office rent expenses following the relocation of the office of our subsidiary, Guangzhou Yishengxin Network Technology Co., Ltd.
• General and administrative expenses decreased by approximately $0.7 million, or 33.6%, to approximately $1.5 million. This decrease was mainly attributable to a 50.2% drop in professional and consulting fees following the completion of our IPO in December 2024, as well as a 74.0% decrease in expected credit loss expenses, partially offset by an increase in administrative headcount and related salary expenses.
• Share-based compensation expenses were approximately $1.8 million in the fiscal year ended March 31,2026, compared to nil in the prior year. This non-cash expense relates to restricted stock awards granted to employees and consultants under our 2025 Equity Incentive Plan.
• Research and development expenses increased by 4.4% to approximately $0.3 million, supporting the continued optimization of our data management systems and mobile applications.

Net Income

Net income for the fiscal year ended March 31, 2026, was approximately $2.8 million, compared to a net income of approximately $4.0 million for the fiscal year ended March 31, 2025. This decrease of approximately $1.2 million was largely driven by our strategic shift in service mix toward volume growth, higher income tax provisions resulting from increased taxable income, and the non-cash share-based compensation expenses recognized during the year.

Cash, Cash Equivalents, and Liquidity

As of March 31, 2026, the Company's cash on hand stood at approximately $5.9 million, compared to approximately $7.1 million as of March 31, 2025. Net cash used in operating activities amounted to approximately $2.7 million for the fiscal year ended March 31, 2026, primarily driven by increases in accounts receivable and advances to vendors associated with our growing service volumes. The Company maintained a working capital balance of approximately $34.8 million as of March 31, 2026, which management believes is sufficient to meet its working capital needs over the next 12 months.

About YSX TECH. CO., LTD

YSX TECH. CO., LTD is a Cayman Islands exempted company that, through its variable interest entities in China, provides comprehensive business solutions mainly for insurance companies and brokerages in China. The Company possesses in-depth knowledge of the Chinese insurance industry accumulated from years of servicing customers, and specializes in auto insurance aftermarket value-added services, software development and information technology services, as well as other scenario-based customized services, such as products and customer development services. For more information please visit: https://ir.ysxtechcay.com and https://www.ysxnet.com.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as “may,” “will,” “intend,” “should,” “believe,” “expect,” “anticipate,” “project,” “estimate,” or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and other factors discussed in the Company’s filings with the United States Securities and Exchange Commission, which are available for review at www.sec.gov. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:
YSX Tech. Co., Ltd
marketing@ysxnet.com
+86 (20) 2984 2002

Investor Relations
WFS Investor Relations Inc.
Email: services@wfsir.com
Phone: +1 628 283 9214

YSX TECH. CO., LTD AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS

		As of March 31,
		2026				2025
ASSETS
Current Assets
Cash		$	5,889,033			$	7,105,085
Accounts receivable, net of $780,608 and $653,470, respectively			24,579,776				17,606,279
Accounts receivable, a related party			18,674,421				5,381,535
Advances to vendors			5,020,775				9,400,197
Due from related parties			—				198,611
Other current assets			147,306				167,862
Total current assets			54,311,311				39,859,569
Non-current Assets
Property and equipment, net			245,394				194,878
Right-of-use operating lease assets			283,410				144,535
Deferred tax assets			117,091				140,377
Total non-current assets			645,895				479,790
TOTAL ASSETS			54,957,206				40,339,359
LIABILITIES AND SHAREHOLDERS’ EQUITY
Current liabilities
Short-term bank loans			6,229,342				4,131,354
Current portion of long-term loans			159,467				578,775
Accounts payable			7,317,603				2,258,129
Deferred revenue			300,831				1,007
Taxes payable			4,486,926				3,274,881
Due to related parties			175,785				141,235
Operating lease liabilities, current			75,409				93,719
Accrued expense and other current liabilities			720,799				889,863
Total current liabilities			19,466,162				11,368,963
Operating lease liabilities, non-current			219,293				66,926
Long-term loans			1,601,914				1,281,574
Total non-current liabilities			1,821,207				1,348,500
Total liabilities			21,287,369				12,717,463
Commitment and contingencies
Shareholders’ equity
Ordinary shares, $0.0001 par value, 500,000,000 shares authorized, 27,882,500 and 23,437,500 shares issued as of March 31, 2026 and 2025, respectively, and 24,071,000 and 23,437,500 shares outstanding as of March 31, 2026 and 2025, respectively, including:
Class A ordinary shares, $0.0001 par value, 470,000,000 shares authorized, 26,705,175 and 22,260,175 shares issued as of March 31, 2026 and 2025, respectively, and 22,893,675 and 22,260,175 shares outstanding as of March 31, 2026 and 2025, respectively			2,671				2,226
Class B Ordinary shares, $0.0001 par value, 30,000,000 shares authorized, 1,177,325 shares issued and outstanding as of March 31, 2026 and 2025, respectively			118				118
Additional paid-in capital			12,242,693				10,420,096
Subscription receivable			(445	)			—
Statutory reserve			1,197,331				908,214
Retained earnings			20,091,312				17,575,571
Accumulated other comprehensive income (loss)			136,157				(1,284,329	)
Total shareholders’ equity			33,669,837				27,621,896
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	54,957,206			$	40,339,359

YSX TECH. CO., LTD AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME

		For the years ended March 31,
		2026				2025
Revenues
Revenues		$	60,503,275			$	51,558,098
Revenue, related parties			22,964,495				19,894,638
Total revenue			83,467,770				71,452,736
Cost of revenues
Cost of revenue			76,273,430				64,066,148
Cost of revenue, related parties			—				—
Total cost of revenue			76,273,430				64,066,148
Gross profit			7,194,340				7,386,588
Operating expenses:
Selling and marketing			103,933				121,681
General and administrative			1,476,653				2,225,447
Share-based compensation			1,822,597				—
Research and development			250,671				240,052
Total operating expenses			3,653,854				2,587,180
Income from operations			3,540,486				4,799,408
Other income (expenses)
Interest expense			(250,553	)			(159,298	)
Interest income			244				1,100
Investment income			—				20,295
Other income			499,350				65,021
Other non-operating income (expenses), net			64,510				(27,257	)
Total other income (expense), net			313,551				(100,139	)
Income before income tax provisions			3,854,037				4,699,269
Income tax provision			1,049,179				677,421
Net income			2,804,858				4,021,848
Other comprehensive income
Foreign currency translation adjustment			1,420,486				(108,205	)
Comprehensive income		$	4,225,344			$	3,913,643
Earnings per share- basic and diluted		$	0.11			$	0.18
Weighted average number of ordinary shares - basic and diluted			25,772,226				22,401,712

YSX TECH. CO. LTD., AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS

		For the years ended March 31,
		2026				2025
Cash flows from operating activities:
Net income		$	2,804,858			$	4,021,848
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization			49,489				26,497
Loss from disposal of fixed assets			16,115				—
Amortization of operating lease right-of-use assets			87,554				83,916
Allowance for expected credit loss			72,957				280,787
Deferred tax provision			29,711				(64,284	)
Stock-based compensation for services			1,822,597				—
Changes in operating assets and liabilities:
Accounts receivable			(5,975,272	)			(8,808,278	)
Accounts receivable, related parties			(12,641,032	)			(2,537,631	)
Advance to vendors			4,729,066				(1,324,078	)
Other current assets			45,986				(92,803	)
Due from related parties			202,966				(207,676	)
Accounts payable			4,800,769				744,481
Advances from customers			291,201				(13,095	)
Advances from customers, related parties			—				—
Taxes payable			1,011,969				711,429
Net changes in operating right-of-use assets and lease liabilities			174,618				(87,077	)
Accrued expense and other current liabilities			(209,182	)			776,481
Net cash used in operating activities			(2,685,630	)			(6,489,483	)
Cash flows from investing activities:
Purchase of property and equipment			(88,716	)			(167,932	)
Proceeds from termination of the long-term investment			—				—
Purchase of short-term investment			—				—
Proceeds upon maturity of short-term investment			—				2,105,016
Net cash (used in) provided by investing activities			(88,716	)			1,937,084
Cash flows from financing activities:
Proceeds from short-term bank loans			5,913,252				4,989,677
Repayment of short-term bank loans			(4,083,932	)			(2,399,922	)
Proceeds from long-term bank loans			422,476				1,385,636
Repayment of long-term bank loans			(612,590	)			(138,564	)
Proceeds from a related party loan			—				—
Repayment of a related party loan			—				(1,385,636	)
Proceeds from (repayment of) borrowing from related parties			33,562				(275,627	)
Payment for deferred initial public offering costs			—				—
Net proceeds from completion of the initial public offering			—				5,073,566
Net cash provided by financing activities			1,672,768				7,249,130
Effect of exchange rate change on cash			(114,474	)			124,560
Net (decrease) increase in cash			(1,216,052	)			2,821,291
Cash, beginning of year			7,105,085				4,283,794
Cash, end of year		$	5,889,033			$	7,105,085
Supplemental disclosures of cash flow information:
Cash paid for income tax		$	40,110			$	29,966
Cash paid for interest		$	250,553			$	159,298
Supplemental disclosure of non-cash investing and financing activities
Right-of-use assets obtained in exchange for operating lease obligations		$	300,784			$	—

FAQ

How did YSX TECH (NASDAQ: YSXT) perform financially in fiscal year 2026?

YSX TECH reported total revenue of $83.5 million for fiscal 2026, a 16.8% year-over-year increase. According to YSX TECH, growth was driven mainly by auto insurance aftermarket value-added services, while net income declined to $2.8 million from $4.0 million due to margin and expense changes.

What drove revenue growth for YSX TECH (YSXT) in the year ended March 31, 2026?

Revenue growth was primarily driven by auto insurance aftermarket value-added services, which rose 27.4% to $80.8 million. According to YSX TECH, this reflected more brokerage contracts and a 28.8% increase in total service volumes to over 6.07 million calls, partly offset by declines in other service lines.

Why did YSX TECH (YSXT) net income decline in fiscal 2026 despite higher revenue?

Net income fell to $2.8 million from $4.0 million despite higher revenue. According to YSX TECH, the decline was mainly due to a shift toward lower-margin value-added services, higher income tax provisions, and $1.8 million of non-cash share-based compensation recorded in operating expenses.

How did YSX TECH (YSXT) service volumes and risk screening business change in 2026?

Total service volumes increased 28.8% to over 6.07 million calls in fiscal 2026. According to YSX TECH, vehicle driving risk screening volumes rose 112.1% to about 5.6 million calls, generating $74.4 million in segment revenue, up 115.1% year over year, reflecting stronger brokerage-driven demand.

What happened to YSX TECH (YSXT) gross margin and operating expenses in fiscal 2026?

Gross margin decreased from 10.3% to 8.6% in fiscal 2026. According to YSX TECH, this reflected a greater mix of lower-margin value-added services, while total operating expenses grew 41.2% to $3.7 million, including $1.8 million of new share-based compensation under the 2025 Equity Incentive Plan.

What is YSX TECH (YSXT) liquidity and working capital position as of March 31, 2026?

YSX TECH ended March 31, 2026 with $5.9 million in cash and working capital of $34.8 million. According to YSX TECH, net cash used in operating activities was $2.7 million, mainly due to higher accounts receivable and advances to vendors associated with growing service volumes.