| Related party balances and transactions |
Note 12 — Related party balances and transactions Related party balances Prepaid expenses to a related party | Name of Related Party | | Relationship | | Nature | | March 31,
2026 | | | June 30,
2025 | | | | | | | | | (Unaudited) | | | | | | Azure Horizon LLC (“Azure”) | | Owned by an immediate family member of the Company’s 10% or more shareholder (a “10%+ shareholder”) | | Prepaid service fees | | $ | - | | | $ | 8,000 | |
Amount due from related parties - current Amount due from related parties consists of the following: | Name of Related Party | | Relationship | | Nature | | March 31,
2026 | | | June 30,
2025 | | | | | | | | | (Unaudited) | | | | | | Haitao Cui(1) | | Executive Vice President and Director of the Company | | Paid on behalf fees | | | 20,868 | | | | - | | | | | | | | | | | | | | | | | Luying Mei(1) | | Executive Vice President of Sales of Old Foxx | | Paid on behalf fees | | | 7,852 | | | | - | | | Total | | | | | | $ | 28,720 | | | $ | - | | | (1) | In November 2025, two executive officers of the Company incurred a reimbursement obligation to the Company for withholding taxes paid on their behalf in connection with the vesting of Restricted Stock Units (RSUs). While the arrangement was initially structured to be settled via semi-monthly payroll deductions, the Company and the officers subsequently amended the terms of the arrangement to ensure compliance with Section 402 of the Sarbanes-Oxley Act of 2002. Pursuant to the amended terms, the officers have committed to fully reimburse the Company for the remaining balance in a single lump-sum payment prior to May 31, 2026. | Other payable — related party Other payable — related parties consists of the following: | Name of Related Party | | Relationship | | Nature | | March 31,
2026 | | | June 30,
2025 | | | | | | | | | (Unaudited) | | | | | | Wuhan Haoxun Communication Technology Co. Ltd (“Wuhan Haoxun”)(1) | | Controlled by an immediate family member of the Company’s 10%+ shareholder | | Research and development fees | | $ | - | | | $ | 18,792 | | | Acri Capital Sponsor LLC | | the Company’s 10%+ shareholder | | Unconverted working capital loan balance in ACAC | | | - | | | | 245,509 | | | Swiftfulfill Warehouse LLC (“Swiftfulfill”) (2) | | Owned by an immediate family member of the Company’s 10%+ shareholder | | Consulting fees and expenses paid on behalf of the Company | | | 7,000 | | | | 8,566 | | | “Joy” Yi Hua | | Chairwoman, Chief Financial Officer and Director of the Company | | Expenses paid on behalf of the Company | | | - | | | | 50 | | | Total | | | | | | $ | 7,000 | | | $ | 272,917 | | | (1) | On September 1, 2022, the Company entered into an agreement with Wuhan Haoxun for the research and development project. The project was completed during the year ended June 30, 2025. | | (2) | On October 1, 2024, the Company entered into a consulting agreement to receive consulting services provided by Swiftfulfill, a consulting company which is owned by an immediate family member of a 10%+ shareholder. | Related party transactions Research and development expenses | Name of Related Party | | Relationship | | For the
Three Months
Ended
March 31,
2026 | | | For the
Three Months
Ended
March 31,
2025 | | | | | | | (Unaudited) | | | (Unaudited) | | | Wuhan Haoxun (1) | | Controlled by an immediate family member of the Company’s 10%+ shareholder | | $ | - | | | $ | 22,792 | | | Name of Related Party | | Relationship | | For the
Nine Months
Ended
March 31,
2026 | | | For the
Nine Months
Ended
March 31,
2025 | | | | | | | (Unaudited) | | | (Unaudited) | | | Wuhan Haoxun (1) | | Controlled by an immediate family member of the Company’s 10%+ shareholder | | $ | - | | | $ | 91,168 | |
| (1) | On September 1, 2022, the Company entered into an agreement with Wuhan Haoxun for a research and development project. The project was completed during the year ended June 30, 2025. |
Consulting expenses | Name of Related Party | | Relationship | | For the
Three Months
Ended
March 31,
2026 | | | For the
Three Months
Ended
March 31,
2025 | | | | | | | (Unaudited) | | | (Unaudited) | | | Azure(1) | | Owned by an immediate family member of the Company’s 10%+ shareholder | | $ | 24,600 | | | $ | 141,000 | | | Swiftfulfill(2) | | Owned by an immediate family member of the Company’s 10%+ shareholder | | | 21,000 | | | | - | | | Total | | | | $ | 45,600 | | | | 141,000 | | | Name of Related Party | | Relationship | | For the
Nine Months
Ended
March 31,
2026 | | | For the
Nine Months
Ended
March 31,
2025 | | | | | | | (Unaudited) | | | (Unaudited) | | | Azure(1) | | Owned by an immediate family member of the Company’s 10%+ shareholder | | $ | 73,800 | | | $ | 423,000 | | | Swiftfulfill(2) | | Owned by an immediate family member of the Company’s 10%+ shareholder | | | 70,000 | | | | - | | | Total | | | | $ | 143,800 | | | | 423,000 | | | (1) | On September 1, 2022, the Company entered into a consulting agreement to receive consulting services provided by Azure, a consulting company which is owned by an immediate family member of a 10%+ shareholder. | | (2) | On October 1, 2024, the Company entered into a consulting agreement to receive consulting services provided by Swiftfulfill, a consulting company which is owned by an immediate family member of a 10%+ shareholder. |
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