10-Q

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

☒   QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended September 30, 2017

or

☐   TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the Transition Period from  to .

Commission File Number 000-54485

IONIX TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

Nevada	45-0713638
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

4F, Tea Tree B Building, Guwu Sanwei Industrial Park, Xixiang Street, Baoan District, Shenzhen, Guangdong Province, China 518000

 (Address of principal executive offices) (Zip Code)

+86-138 8954 0873

(Registrant’s telephone number, including area code)

___________________________

(Former name, former address and former fiscal year, if changed since last report)

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐.

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one)

Large accelerated filer  ☐	Accelerated filer  ☐
Non-accelerated filer  ☐	Smaller reporting company  ☒
Emerging growth company  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).  Yes ☐ No ☒.

As of November 16, 2017, there were 99,003,000 shares of common stock issued and outstanding, par value $0.0001 per share.

As of November 16, 2017, there were 5,000,000 shares of preferred stock issued and outstanding, par value $0.0001 per share.

SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS

Certain information included in this Quarterly Report on Form 10-Q and other filings of the Registrant under the Securities Act of 1933, as amended (the “Securities Act”), and the Securities Exchange Act of 1934, as amended (the “Exchange Act”), as well as information communicated orally or in writing between the dates of such filings, contains or may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act and Section 21E of the Exchange Act. Forward-looking statements in this Quarterly Report on Form 10-Q, including without limitation, statements related to our plans, strategies, objectives, expectations, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, trends and uncertainties that could cause actual results to differ materially from expected results. Among these risks, trends and uncertainties are the availability of working capital to fund our operations, the competitive market in which we operate, the efficient and uninterrupted operation of our computer and communications systems, our ability to generate a profit and execute our business plan, the retention of key personnel, our ability to protect and defend our intellectual property, the effects of governmental regulation, and other risks identified in the Registrant’s filings with the Securities and Exchange Commission from time to time.

In some cases, forward-looking statements can be identified by terminology such as “may,” “will,” “should,” “could,” “expects,” “plans,” “anticipates,” “believes,” “estimates,” “predicts,” “potential” or “continue” or the negative of such terms or other comparable terminology. Although the Registrant believes that the expectations reflected in the forward-looking statements contained herein are reasonable, the Registrant cannot guarantee future results, levels of activity, performance or achievements. Moreover, neither the Registrant, nor any other person, assumes responsibility for the accuracy and completeness of such statements. The Registrant is under no duty to update any of the forward-looking statements contained herein after the date of this Quarterly Report on Form 10-Q.

IONIX TECHNOLOGY, INC.

FORM 10-Q

SEPTEMBER 30, 2017

INDEX

		Page
Part I – Financial Information		F-1
Item 1.	Financial Statements	F-1
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operation	15
Item 3.	Quantitative and Qualitative Disclosures about Market Risk	17
Item 4.	Controls and Procedures	17
Part II – Other Information		18
Item 1.	Legal Proceedings	18
Item 1A.	Risk Factors	18
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	18
Item 3.	Defaults Upon Senior Securities	19
Item 4.	Mine Safety Disclosures	19
Item 5.	Other Information	19
Item 6.	Exhibits	19
Signatures		20
Certifications

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements.

INDEX	F-1
Consolidated Balance Sheets as of September 30, 2017 and June 30, 2017 (Unaudited)	F-2
Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended September 30, 2017 and 2016 (Unaudited)	F-3
Consolidated Statements of Cash Flows for the Three Months Ended September 30, 2017 and 2016 (Unaudited)	F-4
Notes to Consolidated Financial Statements (Unaudited)	F-5

F-1

IONIX TECHNOLOGY, INC.

CONSOLIDATED BALANCE SHEETS

(UNAUDITED)

	September 30, 2017			June 30, 2017
ASSETS
Current Assets:
Cash	$	75,484		$	186,767
Accounts receivable		919			292,265
Inventory		278,070			53,163
Advances to suppliers - non-related parties		2,391			118,647
- related parties		89,180			-
Other receivables		-			147,615
Prepaid expenses and other current assets		18,422			10,755
Total Current Assets		464,466			809,212
Total Assets	$	464,466		$	809,212
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current Liabilities:
Accounts payable - non-related parties	$	110,382		$	96,378
- related parties		5,828			159,861
Advance from customers		68,721			72,476
Due to related parties		188,951			323,599
Accrued expenses and other current liabilities		35,046			94,844
Total Current Liabilities		408,928			747,158
COMMITMENT AND CONTINGENCIES
Stockholders’ Equity:
Preferred stock, $.0001 par value, 5,000,000 shares authorized, 5,000,000 shares issued and outstanding		500			500
Common stock, $.0001 par value, 195,000,000 shares authorized, 99,003,000 shares issued and outstanding		9,900			9,900
Additional paid in capital		237,246			237,246
Accumulated deficit		(193,645	)		(183,441	)
Accumulated other comprehensive income (loss)		1,537			(2,151	)
Total Stockholders’ Equity		55,538			62,054
Total Liabilities and Stockholders’ Equity	$	464,466		$	809,212

 The accompanying notes are an integral part of these consolidated financial statements.

F-2

IONIX TECHNOLOGY, INC.

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)

(UNAUDITED)

	For the Three Months Ended
	September 30,
	2017			2016
Revenues	$	381,541		$	43,150
Cost of revenues - Non-related parties		48,932			-
- Related parties		271,651			38,563
Total Cost of Revenues		320,583			38,563
Gross profit		60,958			4,587
Operating expenses
Selling, general and administrative expense		69,553			43,741
Total operating expenses		69,553			43,741
Loss from continuing operations before income tax		(8,595	)		(39,154	)
Income tax		1,609			182
Net loss from continuing operations		(10,204	)		(39,336	)
Discontinued operations
Income from discontinued operations, net of tax		-			65,444
Loss from disposal of discontinued operations		-			(18,890	)
Total income from discontinued operations		-			46,554
Net income (loss)		(10,204	)		7,218
Other comprehensive income
Foreign currency translation adjustment		3,688			492
Comprehensive income (loss)	$	(6,516	)	$	7,710
Income (Loss) Per Share
Basic and Diluted - continuing operation	$	(0.00	)	$	(0.00	)
- discontinued operation	$	0.00		$	0.00
Total	$	(0.00	)	$	0.00
Weighted average number of common shares outstanding - Basic and Diluted		99,003,000			99,003,000

The accompanying notes are an integral part of these consolidated financial statements.

F-3

IONIX TECHNOLOGY, INC.

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

	For the Three Months Ended
	September 30,
	2017			2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$	(10,204	)	$	7,218
Net income from discontinued operation		-			46,554
Net loss from continuing operation		(10,204	)		(39,336	)
Adjustments required to reconcile net income (loss) to net cash provided by (used in) operating activities:
Changes in operating assets and liabilities:
Accounts receivable		293,992			(34,826	)
Inventory		(221,917	)		(333,642	)
Advances to suppliers - non-related parties		117,348			(234,919	)
Advances to suppliers - related parties		(88,375	)		-
Prepaid expenses		(7,501	)		(62,317	)
Accounts payable - non-related parties		12,137			130,122
Accounts payable - related parties		(155,528	)		109,755
Advance from customers		(5,029	)		179,326
Accrued expenses and other current liabilities		(60,514	)		9,104
Net cash used in continuing operation		(125,591	)		(276,733	)
Net cash provided by discontinued operation		-			916,014
Net cash provided by (used in) operating activities		(125,591	)		639,281
CASH FLOWS FROM INVESTING ACTIVITIES
Other receivables		148,947			-
Proceeds from disposal of subsidiary		-			5,000
Net cash provided by continuing operation		148,947			5,000
Net cash used in discontinued operation		-			(916,044	)
Net cash provided by (used in) investing activities		148,947			(911,044	)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from (repayment of) loans from related parties		(136,600	)		418,043
Net cash provided by (used in) continuing operation		(136,600	)		418,043
Net cash provided by discontinued operation		-			-
Net cash provided by (used in) financing activities		(136,600	)		418,043
Effect of exchange rate changes on cash		1,961			(782	)
Net increase (decrease) in cash		(111,283	)		145,498
Cash, beginning of period		186,767			59,758
Cash, end of period	$	75,484		$	205,256
Supplemental disclosure of cash flow information:
Cash paid for income tax	$	1,951		$	-
Cash paid for interests	$	-		$	-

The accompanying notes are an integral part of these consolidated financial statements.

F-4

IONIX TECHNOLOGY, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SEPTEMBER 30, 2017

(UNAUDITED)

NOTE 1 - NATURE OF OPERATIONS

 Ionix Technology, Inc. (the “Company” or “Ionix”), formerly known as Cambridge Projects Inc., is a Nevada corporation that was formed on March 11, 2011. By and through its wholly owned subsidiaries in China, the Company sells the high-end intelligent electronic equipment, which includes portable power banks for electronic devices and LCD screens in China.

 On February 17, 2016, the Board ratified, approved, and authorized the Company, as the sole member of Well Best International Investment Limited (“Well Best”), on the formation of Taizhou Ionix Technology Company Limited (“Taizhou Ionix”), a company formed under the laws of China on December 17, 2015, and a wholly-owned subsidiary of Well Best. As a result, Taizhou Ionix is an indirect wholly-owned subsidiary of the Company. Taizhou Ionix conducted no business between its date of incorporation and date approved by the Board.  Taizhou Ionix was formed to (i) develop, design, and manufacture lithium-ion batteries for electric vehicles, and (ii) act as an investment holding company that may acquire other businesses located in China. On August 19, 2016, Well Best sold 100% ownership of Taizhou Ionix to one of its directors. (See Note 4)

 On May 19, 2016, the Company, as the sole member of Well Best, formed Xinyu Ionix Technology Company Limited (“Xinyu Ionix”), a company formed under the laws of China. As a result Xinyu Ionix is a wholly-owned subsidiary of Well Best and an indirect wholly-owned subsidiary of the Company. Xinyu Ionix started operation in August 2016 and focused on developing and designing lithium batteries as well as to act as an investment company that may acquire other businesses located in China. On April 30, 2017, Well Best sold 100% ownership of Xinyu Ionix to one of its directors. (See Note 4)

 On November 7, 2016, the Company’s Board of Directors approved and ratified the incorporation of Lisite Science Technology (Shenzhen) Co., Ltd (“Lisite Science”), a limited liability company formed in China on June 20, 2016. Well Best is the sole shareholder of Lisite Science. As a result, Lisite Science is an indirect, wholly-owned subsidiary of the Company. Lisite Science will act as a manufacturing base for the Company and has been focused on developing, producing and selling high-end intelligent electronic equipment, such as portable power banks.

 On November 7, 2016, the Company’s Board of Directors approved and ratified the incorporation of Shenzhen Baileqi Electronic Technology Co., Ltd. (“Baileqi Electronic”), a limited liability company formed in China on August 8, 2016. Well Best is the sole shareholder of Baileqi Electronic. As a result, Baileqi Electronic is an indirect, wholly-owned subsidiary of the Company. Baileqi Electronic will act as a manufacturing base for the Company and has been focused on development and production of the LCD monitors.

 On December 29, 2016, the Company’s Board of Directors approved and ratified to invest 99,999 HK dollars for 99.999% of the issued and outstanding stock of Welly Surplus International Limited (“Welly Surplus”), a limited company formed under the laws of Hong Kong on January 18, 2016. As a result of the investment, the Company became the majority shareholder of Welly Surplus, owning 99.999% of the outstanding stock of Welly Surplus, Mr Xin Sui, a director, owns 0.001% of the outstanding stock of Welly Surplus. Welly Surplus will act as the accounting and financial base for the Company and shall focus on assisting the Company with all of the Company’s financial affairs. Welly Surplus had no operating activities from inception until the date of acquisition.

F-5

 NOTE 2 - GOING CONCERN

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company had an accumulated deficit of $193,645 at September 30, 2017 and has not generated sufficient cash flow from its continuing operations for the past two years. These circumstances, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 The Company may need to raise additional capital from external sources or obtain loans from officers and shareholders in order to continue the long-term efforts contemplated under its business plan. The Company is pursuing other revenue streams which could include strategic acquisitions or possible joint ventures of other business segments.

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of September 30, 2017 and the results of operations and cash flows for the periods ended September 30, 2017 and 2016. The financial data and other information disclosed in these notes to the interim financial statements related to these periods are unaudited. The results for the three months ended September 30, 2017 are not necessarily indicative of the results to be expected for any subsequent periods or for the entire year ending June 30, 2018 or for any subsequent periods. The balance sheet at June 30, 2017 has been derived from the audited financial statements at that date.

 Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the Securities and Exchange Commission's rules and regulations. These unaudited financial statements should be read in conjunction with our audited financial statements and notes thereto for the year ended June 30, 2017 as included in our Annual Report on Form 10-K as filed with the SEC on October 13, 2017.

 Certain amounts have been reclassified to conform to current year presentation

 Basis of consolidation

 The consolidated financial statements include the accounts of Ionix Technology Inc. and its subsidiaries. All significant inter-company balances and transactions have been eliminated upon consolidation.

 Foreign currencies translation

 Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of comprehensive income (loss).

F-6

 The reporting currency of the Company is the United States Dollar (“US$”). The Company’s subsidiaries in the People’s Republic of China (“PRC”) maintain their books and records in their local currency, the Renminbi Yuan (“RMB”), which is the functional currency as being the primary currency of the economic environment in which these entities operate.

 In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. Stockholders’ equity is translated at historical rates. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

The exchange rates used to translate amounts in RMB into U.S. Dollars for the purposes of preparing the consolidated financial statements are as follows:

	September 30, 2017		June 30, 2017
Balance sheet items, except for equity accounts		6.6532		6.7744

	Three Months Ended September 30,
		2017	2016
Items in statements of comprehensive income (loss) and cash flows		6.7138	6.6506

Recent accounting pronouncements

From time to time, new accounting pronouncements are issues by the Financial Accounting Standards Board or other standard bodies that may have an impact on the Company’s accounting and reporting. The Company believes that any recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future either will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations, and cash flows when implemented.

F-7

NOTE 4 - DISCONTINUED OPERATIONS

Taizhou Ionix

On August 19, 2016, Well Best entered into a share transfer agreement whereby Well Best sold 100% of its equity interest in Taizhou Ionix to Mr. GuoEn Li, the sole director and officer of Taizhou Ionix for approximately RMB 30,000 (approximately $5,000USD). Well Best was the sole shareholder of Taizhou Ionix. The Company believed that the manufacturing contract between Taizhou Ionix and Taizhou Jiunuojie Electronic Technology Limited regarding the production of lithium batteries was not beneficial to the Company. As a result, (i) Taizhou Ionix is no longer an indirect, wholly-owned subsidiary of the Company, and (ii) Mr. Li is no longer affiliated with the Company. Well Best recorded a loss of $18,890 on disposal of Taizhou Ionix which was included in the loss from disposal of discontinued operations on statements of comprehensive income (loss).

The following table shows the results of operations of Taizhou Ionix for the three months ended September 30, 2017 and 2016 which are included in the income from discontinued operations:

	For the three months ended on September 30,2017		For the period fromJuly 1 to August 19, 2016
Revenue	$	-	$	173,005
Cost of revenue		-		152,465
Gross profit		-		20,540
Selling, general and administrative expenses		-		8,917
Income before income taxes		-		11,623
Provision for income taxes		-		2,906
Net income	$	-	$	8,717

Xinyu Ionix

On April 30, 2017, Well Best, a wholly-owned subsidiary of the Company, sold 100% of its equity interest in Xinyu Ionix to Zhengfu Nan for RMB 100 (approximately $14USD) pursuant to a Share Transfer Agreement dated April 30, 2017 (the “Agreement”). The Company believed that the manufacturing contract between Xinyu Ionix and Jiangxi Huanming Technology Co., Ltd. regarding the production of lithium batteries was not beneficial to the Company. As a result, (i) Xinyu Ionix is no longer an indirect, wholly-owned subsidiary of the Company, and (ii) Mr. Nan is no longer affiliated with the Company.

 The following table shows the results of operations of Xinyu Ionix for the three months ended September 30, 2017 and 2016 which are included in the income from discontinued operations:

	For the three months ended September 30,2017		For the three monthsended September 30,2016
Revenue	$	-	$	844,109
Cost of revenue		-		756,570
Gross profit		-		87,539
Selling, general and administrative expenses		-		11,902
Income  before income taxes		-		75,637
Provision for income taxes		-		18,910
Net income	$	-	$	56,727

F-8

NOTE 5 - INVENTORIES

Inventories are stated at the lower of cost (determined using the weighted average cost) or market value and are composed of the raw materials and finished goods.

Inventories consist of the following:

	September 30, 2017		June 30, 2017
Raw materials	$	-	$	53,163
Finished goods		278,070		-
Total inventories	$	278,070	$	53,163

NOTE 6 - OTHER RECEIVABLES

Other receivables represent short term advances to third parties. They are interest free, unsecured and repayable on demand. The balance of the other receivables as of June 30, 2017 was repaid in full in September 2017.

NOTE 7 - DUE TO RELATED PARTIES

 Manufacture – related party

 On September 1, 2016, Baileqi entered into a manufacturing agreement with Shenzhen Baileqi Science and Technology Co., Ltd. (“Shenzhen Baileqi S&T”) to manufacture products for Baileqi. The owner of Shenzhen Baileqi S&T is also a shareholder of the Company who owns approximately 1.5% of the Company’s outstanding common stock as of September 30, 2017.  Baileqi made payments to Shenzhen Baileqi S&T for manufacturing cost. The manufacturing costs incurred with Shenzhen Baileqi S&T was $192,103 and $0 for the three months ended September 30, 2017 and 2016, respectively, and the amount of $44,167 and $0 respectively were included in cost of revenue.

 Purchase from related party

 During the three months ended September 30, 2017, the Company purchased $63,645 and $174,465 from Keenest and Shenzhen Baileqi S&T which were owned by the Company’s shareholders who own approximately 2% and 1.5% respectively of the Company’s outstanding common stock as of September 30, 2017. The amount of $63,645 and $163,839 were included in the cost of revenue. 

During the three months ended September 30, 2016, the Company purchased $93,808 and $43,247 from Keenest and Shenzhen Baileqi S&T which were owned by the Company’s shareholders who own approximately 2% and 1.5% respectively of the Company’s outstanding common stock. The amount of $27,386 and $11,177 were included in the cost of revenue. 

F-9

 The Company made advances of $89,180 to Keenest for future purchases as of September 30, 2017.  The balance payable to Shenzhen Baileqi S&T were $5,828 and $159,861 respectively as of September 30, 2017 and June 30, 2017.

 Due to related parties

 Due to related parties represents certain advances to the Company or its subsidiaries by related parties. The amounts are non-interest bearing, unsecured and due on demand.

 Due to related parties consists of the following:

	September 30, 2017		June 30, 2017
Ben Wong         (1)	$	143,792	$	143,792
Changyong Yang    (2)		-		122,820
Xin Sui            (3)		1,992		6,992
Baozhen Deng       (4)		8,746		8,590
Shenzhen Baileqi S&T (5)		34,421		41,405
	$	188,951	$	323,599

(1) Ben Wong was the controlling shareholder of Shinning Glory until April 20, 2017, which holds majority shares in Ionix Technology, Inc.

(2) Changyong Yang is a stockholder of the Company, who owns approximately 2% of the Company’s outstanding common stock, and the owner of Keenest.

(3) Xin Sui is a member of the board of directors of Welly Surplus.

(4) Baozhen Deng is a stockholder of the Company, who owns approximately 1.5% of the Company’s outstanding common stock, and the owner of Shenzhen Baileqi S&T.

F-10

(5) Shenzhen Baileqi S&T is a company established in China and 100% owned by Baozhen Deng, a stockholder of the Company.

 During the three months ended September 30, 2017, Welly Surplus refunded $5,000 to Xin Sui.  Baileqi Electronic refunded $7,671 to Shenzhen Baileqi S&T.  Lisite Science refunded $122,820 to Changyong Yang.

 During the three months ended September 30, 2016, Ben Wong advanced $577 to Well Best and he received the proceeds of $5,000 from sales of Taizhou Ionix on behalf of the Company.  Changyong Yang (a stockholder of the Company) advanced $358,156 to Lisite Science.  Baozhen Deng (a stockholder of the Company) advanced $63,080 to Baileqi Electronic.

 NOTE 8 - CONCENTRATION

Major customers

Customers who accounted for 10% or more of the Company’s revenues for the three months ended September 30, 2017 and 2016 respectively and its outstanding balance of accounts receivable as of September 30, 2017 and 2016 respectively are presented as follows:

	For the three months ended September 30, 2017					As of September 30, 2017
	Revenue		Percentageof revenue			Accounts receivable		Percentage ofaccounts receivable
Customer A	$	65,637		17	%	$	-		-	%
Customer B		91,692		24	%		-		-	%
Customer C		45,514		12	%		-		-	%
Total	$	202,843		53	%	$	-		-	%

	For the three months ended September 30, 2016					As of September 30, 2016
	Revenue		Percentage of revenue			Accounts receivable		Percentage ofaccounts receivable
Customer A	$	29,765		69	%	$	34,725		100	%
Customer B		13,385		31	%		-		-	%
Total	$	43,150		100	%	$	34,725		100	%

All customers are located in the PRC.

F-11

Major suppliers

The supplier who accounted for 10% or more of the Company’s total purchases (materials and services) for the three months ended September 30, 2017 and 2016 respectively and its outstanding balance of accounts payable as of September 30, 2017 and 2016 respectively are presented as follows:

	For the three months ended September 30, 2017					As of September 30, 2017
	Total Purchase		Percentage of total purchase			Accounts payable		Percentage ofaccounts payable
Supplier A-related party	$	63,645		12	%	$	-		-	%
Supplier B-related party		366,568		68	%		5,828		5	%
Total	$	430,213		80	%	$	5,828		5	%

	For the three months ended September 30, 2016					As of September 30, 2016
	Total Purchase		Percentage of total purchase			Accounts payable		Percentage ofaccounts payable
Supplier A-related party	$	93,808		25	%	$	109,436		46	%
Supplier B-related party		43,247		12	%		-		-	%
Total	$	137,055		37	%	$	109,436		46	%

All suppliers of the Company are located in the PRC.

NOTE 9 - INCOME TAXES

 The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company operates in various countries: United States of America, Hong Kong and the PRC that are subject to taxes in the jurisdictions in which they operate, as follows:

United States of America

The Company is registered in the State of Nevada and is subject to the tax laws of United States of America.

The Company has shown losses since inception.  As a result it has incurred no income tax. Under normal circumstances, the Internal Revenue Service is authorized to audit income tax returns during a three year period after the returns are filed.  In unusual circumstances, the period may be longer.  Tax returns for the years ended June 30, 2011 and after were still open to audit as of September 30, 2017.

The Company received a penalty assessment from the IRS in the amount of $10,000 for failure to provide information with respect to certain foreign owned US Corporations on Form 5472 - Information Return of a 25% Foreign Owned US Corporation for the tax period ended June 30, 2013. The Company disputed this claim and is working to reverse the penalty. The Company believes that the payment of this penalty is remote and did not accrue this liability as of September 30, 2017.

F-12

Hong Kong

The Well Best and Welly Surplus are registered in Hong Kong. For the three months ended September 30, 2017 and 2016, there is no assessable income chargeable to profit tax in Hong Kong.

 The PRC

Lisite Science and Baileqi Electronic are operating in the PRC and is subject to the Corporate Income Tax Law of the People’s Republic of China at a unified income tax rate of 25%.

 The reconciliation of income tax expense at the U.S. statutory rate of 35% to the Company’s effective tax rate is as follows:

	For the three months ended September 30
	2017			2016
U.S. Statutory rate	$	(3,008	)	$	(13,704	)
Tax rate difference between China and U.S.		1,125			9,016
Change in Valuation Allowance		3,492			4,870
Effective tax rate	$	1,609		$	182

The provisions for income taxes are summarized as follows:

	For the three months ended September 30,
	2017		2016
Current	$	1,609	$	182
Deferred		-		-
Total	$	1,609	$	182

As of September 30, 2017, the Company has approximately $260,000 net operating loss carryforwards available in the U.S. and Hong Kong to reduce future taxable income which will begin to expire from 2035. It is more likely than not that the deferred tax assets cannot be utilized in the future because there will not be significant future earnings from the entity which generated the net operating loss. Therefore, the Company recorded a full valuation allowance on its deferred tax assets.

 The Company has not provided deferred taxes on unremitted earnings attributable to international companies that have been considered to be reinvested indefinitely. Because of the availability of U.S. foreign tax credits, it is not practicable to determine the income tax liability that would be payable if such earnings were not indefinitely reinvested. In accordance with ASC Topic 740, interest associated with unrecognized tax benefits is classified as income tax and penalties are classified in selling, general and administrative expenses in the statements of operations.

F-13

 The extent of the Company’s operations involves dealing with uncertainties and judgments in the application of complex tax regulations in a multitude of jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from federal, state and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the United States and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due.

  NOTE 10 - SUBSEQUENT EVENTS

 The Company has evaluated the existence of significant events subsequent to the balance sheet date through the date the financial statements were issued and has determined that there were no subsequent events or transactions which would require recognition or disclosure in the financial statements.

END NOTES TO FINANCIAL STATEMENTS

F-14

Item 2.  Management’s Discussion and Analysis of Financial Condition and Results of Operations.

The following Management's Discussion and Analysis should be read in conjunction with Ionix Technology, Inc.’s. financial statements and the related notes thereto. The Management's Discussion and Analysis contains forward-looking statements that involve risks and uncertainties, such as statements of our plans, objectives, expectations and intentions. Any statements that are not statements of historical fact are forward-looking statements. When used, the words “believe,” “plan,” “intend,” “anticipate,” “target,” “estimate,” “expect,” and the like, and/or future-tense or conditional constructions (“will,” “may,” “could,” “should,” etc.), or similar expressions, identify certain of these forward-looking statements. These forward-looking statements are subject to risks and uncertainties that could cause actual results or events to differ materially from those expressed or implied by the forward-looking statements in this Report on Form 10-Q. The Company’s actual results and the timing of events could differ materially from those anticipated in these forward-looking statements as a result of several factors. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this Report on Form 10-Q.

The following discussion should be read in conjunction with our unaudited consolidated financial statements and related notes and other financial data included elsewhere in this report. See also the notes to our consolidated financial statements and Management’s Discussion and Analysis of Financial Condition and Results of Operations contained in our Annual Report on Form 10-K for the year ended June 30, 2017, filed with the Commission on October 13, 2017.

Results of Operations for the three months ended September 30, 2017 and 2016

Revenue

During the three months ended September 30, 2017 and 2016, revenue was $381,541 and $43,150 respectively. The difference can be attributed to the expanded our operations in the fields of portable power banks and LCD screens in the PRC during the three months ended September 30, 2017.

Cost of Revenue

During the three months ended September 30, 2017, cost of revenue was $48,932 for non-related parties, and $271,651 for related parties. In the three months ended September 30, 2017, cost of revenue included the cost of raw materials and finished products purchased and the sub- contracting processing fee paid to the processing factories which were owned by our shareholders, pursuant to the manufacturing agreement between the Company’s subsidiaries in PRC and processing factories. In comparison, during the three months ended September 30, 2016, the cost of revenues was $38,563, for related parties and Nil for non-related parties. The difference can be attributed to the expanded our operations in the fields of portable power banks and LCD screens in the PRC during the three months ended September 30, 2017.

Gross Profit

During the three months ended September 30, 2017 and 2016, gross profit was $60,958 and $4,587, respectively. Our gross profit margin maintained at 16% during the three months ended September 30, 2017.

Selling, General and Administrative Expenses

During the three months ended September 30, 2017, and 2016, general and administrative expenses were $69,553, and $43,741, respectively. Our general and administrative expenses mainly comprised of payroll expenses, transportation, office expense, professional fees, freight and shipping costs, rent, and other miscellaneous expenses. The expenses were significantly more in 2017 as we have expanded our operations in the PRC during this period and the operating expenses from Taizhou Ionix and Xinyu Ionix were included in the income from discontinued operation during the three months ended September 30, 2016.

Income (Loss) from Discontinued Operations

The Company disposed of the ownership in Taizhou Ionix and Xinyu Ionix in August 2016 and April 2017 respectively.

Hence the Company has presented results of Taizhou Ionix and Xinyu Ionix operations as the discontinued operations in the consolidated statements of comprehensive income (loss).

During the three months ended September 30, 2017 and 2016, income from discontinued operation was $Nil and $46,554, respectively, all of which were revenue offset by cost of sales and general and administrative expenses.

15

Net Income (Loss)

During the three months ended September 30, 2017 and 2016, our net loss was $10,204 compared with an income of $7,218, respectively, which included net loss from continuing operation of $10,204 and $39,336, respectively, and net income from discontinued operation of $NIL and $46,554, respectively. The difference can be attributed to the expanded our operations in the fields of portable power banks and LCD screens in the PRC during the three months ended September 30, 2017.

Liquidity and Capital Resources

 Cash Flow from Operating Activities

During the three months ended September 30, 2017 and 2016, the Company used cash of $125,591 from operating activities compared with cash provided by operating activities of $639,281, respectively. The change was mainly due to less loss incurred from continuing operation and an increase in accounts payable outflows which were partially offset by an increase in accounts receivables inflows.

Cash Flow from Investing Activities

During the three months ended September 30, 2017 and 2016, net cash provided by (used in) investing activities was $148,947 and $(911,044), respectively.

Cash Flow from Financing Activities

During the three months ended September 30, 2017, the Company used $136,600 in cash for financing activities, which was all due to repayment of related party loans. In comparison, during the three months ended September 30, 2016, the Company received $418,043 in cash from financing activities, all of which was attributable to proceeds from related party loans.

As of September 30, 2017, we have a working capital of $55,538.

Our total current liabilities for the three months ended September 30, 2017 was $408,928 and consists primarily of accounts payables for related and non-related parties of $116,210, advances from customers of $68,721, amount due to related parties of $188,951, and accrued expenses and other current liabilities of $35,046. Our Company’s President is committed to providing for our minimum working capital needs for the next 12 months, and we do not expect previous loan amounts to be payable for the next 12 months. However, we do not have a formal agreement that states any of these facts.  The remaining balance of our current liabilities relates to audit and consulting fees and such payments are due on demand and we expect to settle such amounts on a timely basis based upon shareholder loans to be granted to us in the next 12 months.

We will require approximately $150,000 to fund our working capital needs as follows:

Audit and accounting		30,000
Legal Consulting fees		50,000
Salary and wages		30,000
Edgar/XBRL filing, transfer agent and miscellaneous		40,000
Total	$	150,000

Future Financings

We will not consider taking on any long-term or short-term debt from financial institutions in the immediate future.  We are dependent upon our director and the major shareholder to provide continued funding and capital resources. If continued funding and capital resources are unavailable at reasonable terms, we may not be able to implement our plan of operations. The financial statements do not include any adjustments related to the recoverability of assets and classification of liabilities that might be necessary should the Company be unable to continue in operation.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the Company’s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.  

16

 Critical Accounting Policies

Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.

We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.

Recently Issued Accounting Pronouncements

In May 2014, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers: Topic 606. This Update affects any entity that either enters into contracts with customers to transfer goods or services or enters into contracts for the transfer of nonfinancial assets, unless those contracts are within the scope of other standards. The guidance in this Update supersedes the revenue recognition requirements in Topic 605, Revenue Recognition and most industry-specific guidance. The core principle of the guidance is that an entity should recognize revenue to illustrate the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance also includes a cohesive set of disclosure requirements that will provide users of financial statements with comprehensive information about the nature, amount, timing, and uncertainty of revenue and cash flows arising from a reporting organization’s contracts with customers. This ASU is effective for fiscal years, and interim periods within those years beginning after December 15, 2016 for public companies and 2017 for non-public entities. Management is evaluating the effect, if any, on the Company’s financial position and results of operations. 

 The Company has implemented all new accounting pronouncements that are in effect. These pronouncements did not have any material impact on the financial statements unless otherwise disclosed, and the Company does not believe that there are any other new accounting pronouncements that have been issued that might have a material impact on its financial position or results of operations.

Contractual Obligations

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Disclosure controls and procedures are controls and procedures that are designed to ensure that information required to be disclosed in our reports filed under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC's rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by our company in the reports that it files or submits under the Exchange Act is accumulated and communicated to our management, including its principal executive and principal financial officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure. Our management carried out an evaluation under the supervision and with the participation of our Principal Executive Officer and Principal Financial Officer, of the effectiveness of the design and operation of our disclosure controls and procedures pursuant to Rules 13a-15(e) and 15d-15(e) under the Securities Exchange Act of 1934 ("Exchange Act"). Based upon that evaluation, our Principal Executive Officer and Principal Financial Officer have concluded that our disclosure controls and procedures were not effective as of September 30, 2017.

17

Changes in Internal Control over Financial Reporting

There have been no changes in our internal control over financial reporting subsequent to the fiscal year ended June 30, 2017, which were identified in connection with our management’s evaluation required by paragraph (d) of rules 13a-15 and 15d-15 under the Exchange Act, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

The Company is not required by current SEC rules to include, and does not include, an auditor's attestation report. The Company's registered public accounting firm has not attested to Management's reports on the Company's internal control over financial reporting.

Limitations of the Effectiveness of Disclosure Controls and Internal Controls

Our management, including our Principal Executive Officer and Principal Financial Officer, does not expect that our disclosure controls and internal controls will prevent all error and all fraud. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been detected. These inherent limitations include the realities that judgments in decision-making can be faulty, and that breakdowns can occur because of a simple error or mistake. Additionally, controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the control.

The design of any system of controls is also based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving our stated goals under all potential future conditions; over time, a control may become inadequate because of changes in conditions, or the degree of compliance with the policies or procedures may deteriorate. Because of inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, the Company may become subject to various legal proceedings that are incidental to the ordinary conduct of its business. Although the Company cannot accurately predict the amount of any liability that may ultimately arise with respect to any of these matters, it makes provision for potential liabilities when it deems them probable and reasonably estimable. These provisions are based on current information and legal advice and may be adjusted from time to time according to developments.

We know of no material, existing or pending legal proceedings against our company, nor are we involved as a plaintiff in any material proceeding or pending litigation. There are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial stockholder, is an adverse party or has a material interest adverse to our interest. 

ITEM 1A. RISK FACTORS

We are a smaller reporting company as defined by Rule 12b-2 of the Securities Exchange Act of 1934 and are not required to provide the information under this item.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

18

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

N/A.

ITEM 5. OTHER INFORMATION

On November 15, 2017 Deng Baozhu was appointed as the new legal representative of Shenzhen Baileqi Electronic Technology Co., Ltd., an indirect wholly owned subsidiary of the Company. Deng Baozhu, 31,was born on May 1, 1986. She received a Bachelor Degree from Shenzhen University in International Trade and English. In March 2010, she began work for Shenzhen Baileqi Science and Technology Co., Ltd.as a Marketing Manager and in October 2014, she left Shenzhen Baileqi Science and Technology Co., Ltd. for Shenzhen Guoxian Technology Co., Ltd. where she employed as a Purchasing Manager. Now she is the Marketing Director for Shenzhen Baileqi Electronic Technology Co., Ltd. since March 2016.

ITEM 6. EXHIBITS

Exhibit
Number	Description of Exhibit
3.01a	Articles of Incorporation, dated March 11, 2011	Filed with the SEC on October 13, 2017 as part of our Annual Report on Form 10-K
3.01b	Certificate of Amendment to Articles of Incorporation, dated August 7, 2014	Filed with the SEC on September 3, 2014 as part of our Current Report on Form 8-K
3.01c	Certificate of Amendment to Articles of Incorporation, dated December 3, 2015	Filed with the SEC on December 10, 2015 as part of our Current Report on Form 8-K
3.02a	Bylaws	Filed with the SEC on August 23, 2011 as an exhibit to our Registration Statement on Form 10.
3.02b	Amended Bylaws, dated August 7, 2014	Filed with the SEC on September 3, 2014 as part of our Current Report on Form 8-K
10.01	Stock Purchase Agreement between Locksley Samuels and Shining Glory Investments Limited, dated November 20, 2015	Filed with the SEC on November 23, 2015 as part of our Current Report on Form 8-K
10.02	Manufacturing Agreement, dated as of August 19, 2016, by and between Jiangxi Huanming Technology Limited Company and XinyuIonix Technology Company Limited.	Filed with the SEC on August 24, 2016 as part of our Current Report on Form 8-K
10.03	Share Transfer Agreement, dated as of August 19, 2016, by and between GuoEn Li and Well Best International Investment Limited	Filed with the SEC on August 24, 2016 as part of our Current Report on Form 8-K
21.1	List of Subsidiaries	Filed with the SEC on May 22, 2017 as Exhibit 21.1 to Form 10-Q.
31.01	Certification of Principal Executive Officer Pursuant to Rule 13a-14	Filed herewith.
31.02	Certification of Principal Financial Officer Pursuant to Rule 13a-14	Filed herewith.
32.01	CEO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act	Filed herewith.
32.02	CFO Certification Pursuant to Section 906 of the Sarbanes-Oxley Act	Filed herewith.
101.INS*	XBRL Instance Document	Filed herewith.
101.SCH*	XBRL Taxonomy Extension Schema Document	Filed herewith.
101.CAL*	XBRL Taxonomy Extension Calculation Linkbase Document	Filed herewith.
101.LAB*	XBRL Taxonomy Extension Labels Linkbase Document	Filed herewith.
101.PRE*	XBRL Taxonomy Extension Presentation Linkbase Document	Filed herewith.
101.DEF*	XBRL Taxonomy Extension Definition Linkbase Document	Filed herewith.

*Pursuant to Regulation S-T, this interactive data file is deemed not filed or part of a registration statement or prospectus for purposes of Sections 11 or 12 of the Securities Act of 1933, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, and otherwise is not subject to liability under these sections.

19

SIGNATURES

In accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

	Ionix Technology, Inc.
Date: November 20, 2017	By:	/s/ Doris Zhou
	Name:  Doris Zhou Title:    Chief Executive Officer and Director (Principal Executive Officer)

Date: November 20, 2017	By:	/s/ Yue Kou
	Name:  Yue Kou Title:    Chief Financial Officer (Principal Financial Officer)

In accordance with the Exchange Act, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Date: November 20, 2017	By:	/s/ Doris Zhou
	Name:  Doris Zhou Title:    Chief (Principal) Executive Officer, Secretary, Treasurer and Sole Director

Date: November 20, 2017	By:	/s/ Yue Kou
	Name:  Yue Kou Title:    Chief (Principal) Financial Officer

20

EX-31.01

EXHIBIT 31.01

CERTIFICATION OF

PRINCIPAL EXECUTIVE OFFICER

PURSUANT TO SECTION 302(a) OF THE SARBANES-OXLEY ACT OF 2002

I, Doris Zhou, certify that:

1.      I have reviewed this Quarterly Report on Form 10-Q of the Registrant for the period ended September 30, 2017;

2.      Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.      Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4.      As the Registrant’s certifying officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

a.      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.      Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.      Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.      Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5.      As the Registrant’s certifying officer, I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant auditors and the audit committee of the Registrant’s Board of Directors (or persons performing the equivalent functions):

a.      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

b.      Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

	Ionix Technology, Inc.
Date: November 20, 2017	By:	/s/ Doris Zhou
	Name:  Doris Zhou Title:    Chief (Principal) Executive Officer

EX-31.02

EXHIBIT 31.02

CERTIFICATION OF

PRINCIPAL ACCOUNTING OFFICER

PURSUANT TO SECTION 302(a) OF THE SARBANES-OXLEY ACT OF 2002

I, Yue kou, certify that:

1.      I have reviewed this Quarterly Report on Form 10-Q of the Registrant for the period ended September 30, 2017;

2.      Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.      Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4.      As the Registrant’s certifying officer, I am responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the Registrant and have:

a.      Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b.      Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c.      Evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d.      Disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

5.      As the Registrant’s certifying officer, I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant auditors and the audit committee of the Registrant’s Board of Directors (or persons performing the equivalent functions):

a.      All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

b.      Any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

	Ionix Technology, Inc.
Date: November 20, 2017	By:	/s/ Yue Kou
	Name:  Yue Kou Title:   Chief (Principal) Accounting and Financial Officer

EX-32.01

EXHIBIT 32.01

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Doris Zhou, the Chief Executive Officer of Ionix Technology, Inc., certify, under the standards set forth and solely for the purposes of 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge, the Quarterly Report on Form 10-Q of the Registrant for the period ended September 30, 2017, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in that Form 10-Q fairly presents, in all material respects, the financial condition and  results of operations of the Registrant.

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

	Ionix Technology, Inc.
Date: November 20, 2017
	By:	/s/ Doris Zhou
	Name:  Doris Zhou Title:    Chief (Principal) Executive Officer

A signed original of this written statement required by Section 906 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.

EX-32.02

EXHIBIT 32.02

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

I, Yue Kou, the Chief Accounting and Financial Officer of Ionix Technology, Inc., certify, under the standards set forth and solely for the purposes of 18 U.S.C. 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to my knowledge, the Quarterly Report on Form 10-Qof the Registrant for the period ended September, 2017, fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and information contained in that Form 10-Q fairly presents, in all material respects, the financial condition and  results of operations of the Registrant.

(1) The Report fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as amended; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Date: November 20, 2017	Ionix Technology, Inc.
	By:	/s/  Yue Kou
	Name:  Yue Kou Title:    Chief (Principal) Accounting and Financial Officer

A signed original of this written statement required by Section 906 has been provided to the Registrant and will be retained by the Registrant and furnished to the Securities and Exchange Commission or its staff upon request.

XML

Document and Entity Information - shares	3 Months Ended
	Sep. 30, 2017	Nov. 16, 2017
Entity Registrant Name	IONIX TECHNOLOGY, INC.
Entity Central Index Key	0001528308
Document Type	10-Q
Trading Symbol	IINX
Document Period End Date	Sep. 30, 2017
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Smaller Reporting Company
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2018
Preferred Stock [Member]
Entity Common Stock, Shares Outstanding		5,000,000
Common Stock [Member]
Entity Common Stock, Shares Outstanding		99,003,000

XML

CONSOLIDATED BALANCE SHEETS (UNAUDITED) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Current Assets:
Cash	$ 75,484	$ 186,767
Accounts receivable	919	292,265
Inventory	278,070	53,163
Advances to suppliers - non-related parties	2,391	118,647
Advances to suppliers - related parties	89,180
Other receivables		147,615
Prepaid expenses and other current assets	18,422	10,755
Total Current Assets	464,466	809,212
Total Assets	464,466	809,212
Current Liabilities:
Accounts payable - non-related parties	110,382	96,378
Accounts payable - related parties	5,828	159,861
Advance from customers	68,721	72,476
Due to related parties	188,951	323,599
Accrued expenses and other current liabilities	35,046	94,844
Total Current Liabilities	408,928	747,158
COMMITMENT AND CONTINGENCIES
Stockholders' Equity:
Preferred share capital, $.0001 par value, 5,000,000 shares authorized, 5,000,000 shares issued and outstanding	500	500
Common stock, $.0001 par value, 195,000,000 shares authorized, 99,003,000 shares issued and outstanding	9,900	9,900
Additional paid in capital	237,246	237,246
Accumulated deficit	(193,645)	(183,441)
Accumulated other comprehensive income (loss)	1,537	(2,151)
Total Stockholders' Equity	55,538	62,054
Total Liabilities and Stockholders' Equity	$ 464,466	$ 809,212

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CONSOLIDATED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2017	Jun. 30, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized shares	5,000,000	5,000,000
Preferred stock, issued	5,000,000	5,000,000
Preferred stock, outstanding	5,000,000	5,000,000
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized shares	195,000,000	195,000,000
Common stock, issued	99,003,000	99,003,000
Common stock, outstanding	99,003,000	99,003,000

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CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (UNAUDITED) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Statement [Abstract]
Revenues	$ 381,541	$ 43,150
Cost of revenues
-Non-related parties	48,932
-Related parties	271,651	38,563
Total Cost of Revenues	320,583	38,563
Gross profit	60,958	4,587
Operating expenses
Selling, general and administrative expense	69,553	43,741
Total operating expenses	69,553	43,741
Loss from continuing operations before income tax	(8,595)	(39,154)
Income tax	1,609	182
Net loss from continuing operations	(10,204)	(39,336)
Discontinued operations
Income from discontinued operations, net of tax		65,444
Loss from disposal of discontinued operations		(18,890)
Total income from discontinued operations		46,554
Net income (loss)	(10,204)	7,218
Other comprehensive income
Foreign currency translation adjustment	3,688	492
Comprehensive income (loss)	$ (6,516)	$ 7,710
Income (Loss) Per Share -
Basic and Diluted - continuing operation (in dollars per share)	$ (0.00)	$ 0.00
Basic and Diluted - discontinued operation (in dollars per share)	0.00	0.00
Total	$ 0.00	$ 0.00
Weighted average number of common shares outstanding - Basic and Diluted (in shares)	99,003,000	99,003,000

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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES
Net income (loss)	$ (10,204)	$ 7,218
Net income from discontinued operation		46,554
Net loss from continuing operation	(10,204)	(39,336)
Changes in operating assets and liabilities:
Accounts receivable	293,992	(34,826)
Inventory	(221,917)	(333,642)
Advances to suppliers - non-related parties	117,348	(234,919)
Advances to suppliers - related parties	(88,375)
Prepaid expenses	(7,501)	(62,317)
Accounts payable - non-related parties	12,137	130,122
Accounts payable - related parties	(155,528)	109,755
Advance from customers	(5,029)	179,326
Accrued expenses and other current liabilities	(60,514)	9,104
Net cash used in continuing operation	(125,591)	(276,733)
Net cash provided by discontinued operation		916,014
Net cash provided by (used in) operating activities	(125,591)	639,281
CASH FLOWS FROM INVESTING ACTIVITIES
Other receivables	148,947
Proceeds from disposal of subsidiary		5,000
Net cash provided by continuing operation	148,947	5,000
Net cash used in discontinued operation		(916,044)
Net cash provided by (used in) investing activities	148,947	(911,044)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from (repayment of) loans from related parties	(136,600)	418,043
Net cash provided by (used in) continuing operation	(136,600)	418,043
Net cash provided by discontinued operation
Net cash provided by (used in) financing activities	(136,600)	418,043
Effect of exchange rate changes on cash	1,961	(782)
Net increase (decrease) in cash	(111,283)	145,498
Cash, beginning of period	186,767	59,758
Cash, end of period	75,484	205,256
Supplemental disclosure of cash flow information:
Cash paid for income tax	1,951
Cash paid for interests

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NATURE OF OPERATIONS

3 Months Ended

Sep. 30, 2017

Organization, Consolidation and Presentation of Financial Statements [Abstract]

NATURE OF OPERATIONS

NOTE 1 - NATURE OF OPERATIONS

 Ionix Technology, Inc. (the “Company” or “Ionix”), formerly known as Cambridge Projects Inc., is a Nevada corporation that was formed on March 11, 2011. By and through its wholly owned subsidiaries in China, the Company sells the high-end intelligent electronic equipment, which includes portable power banks for electronic devices and LCD screens in China.

 On February 17, 2016, the Board ratified, approved, and authorized the Company, as the sole member of Well Best International Investment Limited (“Well Best”), on the formation of Taizhou Ionix Technology Company Limited (“Taizhou Ionix”), a company formed under the laws of China on December 17, 2015, and a wholly-owned subsidiary of Well Best. As a result, Taizhou Ionix is an indirect wholly-owned subsidiary of the Company. Taizhou Ionix conducted no business between its date of incorporation and date approved by the Board.  Taizhou Ionix was formed to (i) develop, design, and manufacture lithium-ion batteries for electric vehicles, and (ii) act as an investment holding company that may acquire other businesses located in China. On August 19, 2016, Well Best sold 100% ownership of Taizhou Ionix to one of its directors. (See Note 4)

 On May 19, 2016, the Company, as the sole member of Well Best, formed Xinyu Ionix Technology Company Limited (“Xinyu Ionix”), a company formed under the laws of China. As a result Xinyu Ionix is a wholly-owned subsidiary of Well Best and an indirect wholly-owned subsidiary of the Company. Xinyu Ionix started operation in August 2016 and focused on developing and designing lithium batteries as well as to act as an investment company that may acquire other businesses located in China. On April 30, 2017, Well Best sold 100% ownership of Xinyu Ionix to one of its directors. (See Note 4)

 On November 7, 2016, the Company’s Board of Directors approved and ratified the incorporation of Lisite Science Technology (Shenzhen) Co., Ltd (“Lisite Science”), a limited liability company formed in China on June 20, 2016. Well Best is the sole shareholder of Lisite Science. As a result, Lisite Science is an indirect, wholly-owned subsidiary of the Company. Lisite Science will act as a manufacturing base for the Company and has been focused on developing, producing and selling high-end intelligent electronic equipment, such as portable power banks.

 On November 7, 2016, the Company’s Board of Directors approved and ratified the incorporation of Shenzhen Baileqi Electronic Technology Co., Ltd. (“Baileqi Electronic”), a limited liability company formed in China on August 8, 2016. Well Best is the sole shareholder of Baileqi Electronic. As a result, Baileqi Electronic is an indirect, wholly-owned subsidiary of the Company. Baileqi Electronic will act as a manufacturing base for the Company and has been focused on development and production of the LCD monitors. 

 On December 29, 2016, the Company’s Board of Directors approved and ratified to invest 99,999 HK dollars for 99.999% of the issued and outstanding stock of Welly Surplus International Limited (“Welly Surplus”), a limited company formed under the laws of Hong Kong on January 18, 2016. As a result of the investment, the Company became the majority shareholder of Welly Surplus, owning 99.999% of the outstanding stock of Welly Surplus, Mr Xin Sui, a director, owns 0.001% of the outstanding stock of Welly Surplus. Welly Surplus will act as the accounting and financial base for the Company and shall focus on assisting the Company with all of the Company’s financial affairs. Welly Surplus had no operating activities from inception until the date of acquisition.

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GOING CONCERN

3 Months Ended

Sep. 30, 2017

Going Concern

GOING CONCERN

 NOTE 2 - GOING CONCERN

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The Company had an accumulated deficit of $193,645 at September 30, 2017 and has not generated sufficient cash flow from its continuing operations for the past two years. These circumstances, among others, raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.

 The Company may need to raise additional capital from external sources or obtain loans from officers and shareholders in order to continue the long-term efforts contemplated under its business plan. The Company is pursuing other revenue streams which could include strategic acquisitions or possible joint ventures of other business segments.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 3 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of presentation

The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of September 30, 2017 and the results of operations and cash flows for the periods ended September 30, 2017 and 2016. The financial data and other information disclosed in these notes to the interim financial statements related to these periods are unaudited. The results for the three months ended September 30, 2017 are not necessarily indicative of the results to be expected for any subsequent periods or for the entire year ending June 30, 2018 or for any subsequent periods. The balance sheet at June 30, 2017 has been derived from the audited financial statements at that date.

 Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the Securities and Exchange Commission's rules and regulations. These unaudited financial statements should be read in conjunction with our audited financial statements and notes thereto for the year ended June 30, 2017 as included in our Annual Report on Form 10-K as filed with the SEC on October 13, 2017.

 Certain amounts have been reclassified to conform to current year presentation

 Basis of consolidation

 The consolidated financial statements include the accounts of Ionix Technology Inc. and its subsidiaries. All significant inter-company balances and transactions have been eliminated upon consolidation.

 Foreign currencies translation

 Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of comprehensive income (loss).

 The reporting currency of the Company is the United States Dollar (“US$”). The Company’s subsidiaries in the People’s Republic of China (“PRC”) maintain their books and records in their local currency, the Renminbi Yuan (“RMB”), which is the functional currency as being the primary currency of the economic environment in which these entities operate.

 In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. Stockholders’ equity is translated at historical rates. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

The exchange rates used to translate amounts in RMB into U.S. Dollars for the purposes of preparing the consolidated financial statements are as follows:

	September 30, 2017		June 30, 2017
Balance sheet items, except for equity accounts		6.6532		6.7744

	Three Months Ended September 30,
		2017	2016
Items in statements of comprehensive income (loss) and cash flows		6.7138	6.6506

Recent accounting pronouncements

From time to time, new accounting pronouncements are issues by the Financial Accounting Standards Board or other standard bodies that may have an impact on the Company’s accounting and reporting. The Company believes that any recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future either will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations, and cash flows when implemented.

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DISCONTINUED OPERATIONS

3 Months Ended

Sep. 30, 2017

Discontinued Operations

DISCONTINUED OPERATIONS

NOTE 4 - DISCONTINUED OPERATIONS

Taizhou Ionix

On August 19, 2016, Well Best entered into a share transfer agreement whereby Well Best sold 100% of its equity interest in Taizhou Ionix to Mr. GuoEn Li, the sole director and officer of Taizhou Ionix for approximately RMB 30,000 (approximately $5,000USD). Well Best was the sole shareholder of Taizhou Ionix. The Company believed that the manufacturing contract between Taizhou Ionix and Taizhou Jiunuojie Electronic Technology Limited regarding the production of lithium batteries was not beneficial to the Company. As a result, (i) Taizhou Ionix is no longer an indirect, wholly-owned subsidiary of the Company, and (ii) Mr. Li is no longer affiliated with the Company. Well Best recorded a loss of $18,890 on disposal of Taizhou Ionix which was included in the loss from disposal of discontinued operations on statements of comprehensive income (loss).

The following table shows the results of operations of Taizhou Ionix for the three months ended September 30, 2017 and 2016 which are included in the income from discontinued operations:

	For the three months ended on September 30, 2017		For the period from July 1 to August 19, 2016
Revenue	$	-	$	173,005
Cost of revenue		-		152,465
Gross profit		-		20,540
Selling, general and administrative expenses		-		8,917
Income before income taxes		-		11,623
Provision for income taxes		-		2,906
Net income	$	-	$	8,717

Xinyu Ionix

On April 30, 2017, Well Best, a wholly-owned subsidiary of the Company, sold 100% of its equity interest in Xinyu Ionix to Zhengfu Nan for RMB 100 (approximately $14USD) pursuant to a Share Transfer Agreement dated April 30, 2017 (the “Agreement”). The Company believed that the manufacturing contract between Xinyu Ionix and Jiangxi Huanming Technology Co., Ltd. regarding the production of lithium batteries was not beneficial to the Company. As a result, (i) Xinyu Ionix is no longer an indirect, wholly-owned subsidiary of the Company, and (ii) Mr. Nan is no longer affiliated with the Company.

The following table shows the results of operations of Xinyu Ionix for the three months ended September 30, 2017 and 2016 which are included in the income from discontinued operations:

	For the three months ended September 30,2017		For the three months ended September 30,2016
Revenue	$	-	$	844,109
Cost of revenue		-		756,570
Gross profit		-		87,539
Selling, general and administrative expenses		-		11,902
Income  before income taxes		-		75,637
Provision for income taxes		-		18,910
Net income	$	-	$	56,727

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INVENTORIES

3 Months Ended

Sep. 30, 2017

Inventories

INVENTORIES

NOTE 5 - INVENTORIES

 Inventories are stated at the lower of cost (determined using the weighted average cost) or market value and are composed of the raw materials and finished goods.

 Inventories consist of the following: 

	September 30, 2017		June 30, 2017
Raw materials	$	-	$	53,163
Finished goods		278,070		-
Total inventories	$	278,070	$	53,163

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OTHER RECEIVABLES

3 Months Ended

Sep. 30, 2017

Other Receivables

OTHER RECEIVABLES

NOTE 6 - OTHER RECEIVABLES 

Other receivables represent short term advances to third parties. They are interest free, unsecured and repayable on demand. The balance of the other receivables as of June 30, 2017 was repaid in full in September 2017.

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DUE TO RELATED PARTIES

3 Months Ended

Sep. 30, 2017

Related Party Transactions [Abstract]

DUE FROM/TO RELATED PARTIES

NOTE 7 - DUE TO RELATED PARTIES

 Manufacture – related party

 On September 1, 2016, Baileqi entered into a manufacturing agreement with Shenzhen Baileqi Science and Technology Co., Ltd. (“Shenzhen Baileqi S&T”) to manufacture products for Baileqi. The owner of Shenzhen Baileqi S&T is also a shareholder of the Company who owns approximately 1.5% of the Company’s outstanding common stock as of September 30, 2017.  Baileqi made payments to Shenzhen Baileqi S&T for manufacturing cost. The manufacturing costs incurred with Shenzhen Baileqi S&T was $192,103 and $0 for the three months ended September 30, 2017 and 2016, respectively, and the amount of $44,167 and $0 respectively were included in cost of revenue.

 Purchase from related party

 During the three months ended September 30, 2017, the Company purchased $63,645 and $174,465 from Keenest and Shenzhen Baileqi S&T which were owned by the Company’s shareholders who own approximately 2% and 1.5% respectively of the Company’s outstanding common stock as of September 30, 2017. The amount of $63,645 and $163,839 were included in the cost of revenue. 

During the three months ended September 30, 2016, the Company purchased $93,808 and $43,247 from Keenest and Shenzhen Baileqi S&T which were owned by the Company’s shareholders who own approximately 2% and 1.5% respectively of the Company’s outstanding common stock. The amount of $27,386 and $11,177 were included in the cost of revenue. 

 The Company made advances of $89,180 to Keenest for future purchases as of September 30, 2017.  The balance payable to Shenzhen Baileqi S&T were $5,828 and $159,861 respectively as of September 30, 2017 and June 30, 2017.

 Due to related parties

Due to related parties represents certain advances to the Company or its subsidiaries by related parties. The amounts are non-interest bearing, unsecured and due on demand.

 Due to related parties consists of the following: 

	September 30, 2017		June 30, 2017
Ben Wong         (1)	$	143,792	$	143,792
Changyong Yang    (2)		-		122,820
Xin Sui            (3)		1,992		6,992
Baozhen Deng       (4)		8,746		8,590
Shenzhen Baileqi S&T (5)		34,421		41,405
	$	188,951	$	323,599

(1) Ben Wong was the controlling shareholder of Shinning Glory until April 20, 2017, which holds majority shares in Ionix Technology, Inc.

(2) Changyong Yang is a stockholder of the Company, who owns approximately 2% of the Company’s outstanding common stock, and the owner of Keenest.

(3) Xin Sui is a member of the board of directors of Welly Surplus.

(4) Baozhen Deng is a stockholder of the Company, who owns approximately 1.5% of the Company’s outstanding common stock, and the owner of Shenzhen Baileqi S&T.

(5) Shenzhen Baileqi S&T is a company established in China and 100% owned by Baozhen Deng, a stockholder of the Company.

 During the three months ended September 30, 2017, Welly Surplus refunded $5,000 to Xin Sui.  Baileqi Electronic refunded $7,671 to Shenzhen Baileqi S&T.  Lisite Science refunded $122,820 to Changyong Yang.

 During the three months ended September 30, 2016, Ben Wong advanced $577 to Well Best and he received the proceeds of $5,000 from sales of Taizhou Ionix on behalf of the Company.  Changyong Yang (a stockholder of the Company) advanced $358,156 to Lisite Science.  Baozhen Deng (a stockholder of the Company) advanced $63,080 to Baileqi Electronic.

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CONCENTRATION

3 Months Ended

Sep. 30, 2017

Concentration Of Risks

CONCENTRATION OF RISKS

NOTE 8 - CONCENTRATION

Major customers

Customers who accounted for 10% or more of the Company’s revenues for the three months ended September 30, 2017 and 2016 respectively and its outstanding balance of accounts receivable as of September 30, 2017 and 2016 respectively are presented as follows:

	For the three months ended September 30, 2017					As of September 30, 2017
	Revenue		Percentage of revenue			Accounts receivable		Percentage of accounts receivable
Customer A	$	65,637		17	%	$	-		-	%
Customer B		91,692		24	%		-		-	%
Customer C		45,514		12	%		-		-	%
Total	$	202,843		53	%	$	-		-	%

	For the three months ended September 30, 2016					As of September 30, 2016
	Revenue		Percentage of revenue			Accounts receivable		Percentage of accounts receivable
Customer A	$	29,765		69	%	$	34,725		100	%
Customer B		13,385		31	%		-		-	%
Total	$	43,150		100	%	$	34,725		100	%

All customers are located in the PRC.

Major suppliers

The supplier who accounted for 10% or more of the Company’s total purchases (materials and services) for the three months ended September 30, 2017 and 2016 respectively and its outstanding balance of accounts payable as of September 30, 2017 and 2016 respectively are presented as follows:

	For the three months ended September 30, 2017					As of September 30, 2017
	Total Purchase		Percentage of total purchase			Accounts payable		Percentage of accounts payable
Supplier A-related party	$	63,645		12	%	$	-		-	%
Supplier B-related party		366,568		68	%		5,828		5	%
Total	$	430,213		80	%	$	5,828		5	%

	For the three months ended September 30, 2016					As of September 30, 2016
	Total Purchase		Percentage of total purchase			Accounts payable		Percentage of accounts payable
Supplier A-related party	$	93,808		25	%	$	109,436		46	%
Supplier B-related party		43,247		12	%		-		-	%
Total	$	137,055		37	%	$	109,436		46	%

All suppliers of the Company are located in the PRC.

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INCOME TAXES

3 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

INCOME TAXES

NOTE 9 - INCOME TAXES

 The effective tax rate in the periods presented is the result of the mix of income earned in various tax jurisdictions that apply a broad range of income tax rate. The Company operates in various countries: United States of America, Hong Kong and the PRC that are subject to taxes in the jurisdictions in which they operate, as follows:

United States of America

The Company is registered in the State of Nevada and is subject to the tax laws of United States of America.

The Company has shown losses since inception.  As a result it has incurred no income tax. Under normal circumstances, the Internal Revenue Service is authorized to audit income tax returns during a three year period after the returns are filed.  In unusual circumstances, the period may be longer.  Tax returns for the years ended June 30, 2011 and after were still open to audit as of September 30, 2017. 

The Company received a penalty assessment from the IRS in the amount of $10,000 for failure to provide information with respect to certain foreign owned US Corporations on Form 5472 - Information Return of a 25% Foreign Owned US Corporation for the tax period ended June 30, 2013. The Company disputed this claim and is working to reverse the penalty. The Company believes that the payment of this penalty is remote and did not accrue this liability as of September 30, 2017.

Hong Kong

The Well Best and Welly Surplus are registered in Hong Kong. For the three months ended September 30, 2017 and 2016, there is no assessable income chargeable to profit tax in Hong Kong.

The PRC

Lisite Science and Baileqi Electronic are operating in the PRC and is subject to the Corporate Income Tax Law of the People’s Republic of China at a unified income tax rate of 25%.

 The reconciliation of income tax expense at the U.S. statutory rate of 35% to the Company’s effective tax rate is as follows:

	For the three months ended September 30
	2017			2016
U.S. Statutory rate	$	(3,008	)	$	(13,704	)
Tax rate difference between China and U.S.		1,125			9,016
Change in Valuation Allowance		3,492			4,870
Effective tax rate	$	1,609		$	182

The provisions for income taxes are summarized as follows:

	For the three months ended September 30,
	2017		2016
Current	$	1,609	$	182
Deferred		-		-
Total	$	1,609	$	182

As of September 30, 2017, the Company has approximately $260,000 net operating loss carryforwards available in the U.S. and Hong Kong to reduce future taxable income which will begin to expire from 2035. It is more likely than not that the deferred tax assets cannot be utilized in the future because there will not be significant future earnings from the entity which generated the net operating loss. Therefore, the Company recorded a full valuation allowance on its deferred tax assets. 

 The Company has not provided deferred taxes on unremitted earnings attributable to international companies that have been considered to be reinvested indefinitely. Because of the availability of U.S. foreign tax credits, it is not practicable to determine the income tax liability that would be payable if such earnings were not indefinitely reinvested. In accordance with ASC Topic 740, interest associated with unrecognized tax benefits is classified as income tax and penalties are classified in selling, general and administrative expenses in the statements of operations.

The extent of the Company’s operations involves dealing with uncertainties and judgments in the application of complex tax regulations in a multitude of jurisdictions. The final taxes paid are dependent upon many factors, including negotiations with taxing authorities in various jurisdictions and resolution of disputes arising from federal, state and international tax audits. The Company recognizes potential liabilities and records tax liabilities for anticipated tax audit issues in the United States and other tax jurisdictions based on its estimate of whether, and the extent to which, additional taxes will be due.

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SUBSEQUENT EVENTS

3 Months Ended

Sep. 30, 2017

Subsequent Events

SUBSEQUENT EVENTS

NOTE 10 - SUBSEQUENT EVENTS 

The Company has evaluated the existence of significant events subsequent to the balance sheet date through the date the financial statements were issued and has determined that there were no subsequent events or transactions which would require recognition or disclosure in the financial statements.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

Sep. 30, 2017

Accounting Policies [Abstract]

Basis of presentation

Basis of presentation

The unaudited consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and the rules and regulations of the Securities and Exchange Commission. In the opinion of management, the unaudited financial statements have been prepared on the same basis as the annual financial statements and reflect all adjustments, which include only normal recurring adjustments, necessary to present fairly the financial position as of September 30, 2017 and the results of operations and cash flows for the periods ended September 30, 2017 and 2016. The financial data and other information disclosed in these notes to the interim financial statements related to these periods are unaudited. The results for the three months ended September 30, 2017 are not necessarily indicative of the results to be expected for any subsequent periods or for the entire year ending June 30, 2018 or for any subsequent periods. The balance sheet at June 30, 2017 has been derived from the audited financial statements at that date.

 Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States have been condensed or omitted pursuant to the Securities and Exchange Commission's rules and regulations. These unaudited financial statements should be read in conjunction with our audited financial statements and notes thereto for the year ended June 30, 2017 as included in our Annual Report on Form 10-K as filed with the SEC on October 13, 2017.

 Certain amounts have been reclassified to conform to current year presentation

Basis of consolidation

Basis of consolidation

 The consolidated financial statements include the accounts of Ionix Technology Inc. and its subsidiaries. All significant inter-company balances and transactions have been eliminated upon consolidation.

Foreign currencies translation

 Foreign currencies translation

 Transactions denominated in currencies other than the functional currency are translated into the functional currency at the exchange rates prevailing at the dates of the transaction. Monetary assets and liabilities denominated in currencies other than the functional currency are translated into the functional currency using the applicable exchange rates at the balance sheet dates. The resulting exchange differences are recorded in the statement of comprehensive income (loss).

 The reporting currency of the Company is the United States Dollar (“US$”). The Company’s subsidiaries in the People’s Republic of China (“PRC”) maintain their books and records in their local currency, the Renminbi Yuan (“RMB”), which is the functional currency as being the primary currency of the economic environment in which these entities operate.

 In general, for consolidation purposes, assets and liabilities of its subsidiaries whose functional currency is not the US$ are translated into US$, in accordance with ASC Topic 830-30, “Translation of Financial Statement”, using the exchange rate on the balance sheet date. Revenues and expenses are translated at average rates prevailing during the period. Stockholders’ equity is translated at historical rates. The gains and losses resulting from translation of financial statements of foreign subsidiaries are recorded as a separate component of accumulated other comprehensive income within the statement of stockholders’ equity.

The exchange rates used to translate amounts in RMB into U.S. Dollars for the purposes of preparing the consolidated financial statements are as follows:

	September 30, 2017		June 30, 2017
Balance sheet items, except for equity accounts		6.6532		6.7744

	Three Months Ended September 30,
		2017	2016
Items in statements of comprehensive income (loss) and cash flows		6.7138	6.6506

Recent Accounting Pronouncements

Recent accounting pronouncements

From time to time, new accounting pronouncements are issues by the Financial Accounting Standards Board or other standard bodies that may have an impact on the Company’s accounting and reporting. The Company believes that any recently issued accounting pronouncements and other authoritative guidance for which the effective date is in the future either will not have an impact on its accounting or reporting or that such impact will not be material to its financial position, results of operations, and cash flows when implemented.

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Sep. 30, 2017

Summary Of Significant Accounting Policies Tables

Schedule of exchange rates

 The exchange rates used to translate amounts in RMB into U.S. Dollars for the purposes of preparing the consolidated financial statements are as follows:

	September 30, 2017		June 30, 2017
Balance sheet items, except for equity accounts		6.6532		6.7744

	Three Months Ended September 30,
		2017	2016
Items in statements of comprehensive income (loss) and cash flows		6.7138	6.6506

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DISCONTINUED OPERATIONS (Tables)

3 Months Ended

Sep. 30, 2017

Taizhou Ionix [Member]

Schedule of discontinued operations

The following table shows the results of operations of Taizhou Ionix for the three months ended September 30, 2017 and 2016 which are included in the income from discontinued operations:

	For the three months ended on  September 30,2017		For the period from July 1 to August 19, 2016
Revenue	$	-	$	173,005
Cost of revenue		-		152,465
Gross profit		-		20,540
Selling, general and administrative expenses		-		8,917
Income before income taxes		-		11,623
Provision for income taxes		-		2,906
Net income	$	-	$	8,717

Xinyu Ionix [Member]

Schedule of discontinued operations

The following table shows the results of operations of Xinyu Ionix for the three months ended September 30, 2017 and 2016 which are included in the income from discontinued operations:

	For the three months ended September 30,2017		For the three months ended September 30,2016
Revenue	$	-	$	844,109
Cost of revenue		-		756,570
Gross profit		-		87,539
Selling, general and administrative expenses		-		11,902
Income  before income taxes		-		75,637
Provision for income taxes		-		18,910
Net income	$	-	$	56,727

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INVENTORIES (Tables)

3 Months Ended

Sep. 30, 2017

Inventories Tables

Schedule of inventories

 Inventories consist of the following: 

	September 30, 2017		June 30, 2017
Raw materials	$	-	$	53,163
Finished goods		278,070		-
Total inventories	$	278,070	$	53,163

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DUE TO RELATED PARTIES (Tables)

3 Months Ended

Sep. 30, 2017

Due Fromto Related Parties Tables

Schedule of due to related parties

Due to related parties consists of the following: 

	September 30, 2017		June 30, 2017
Ben Wong         (1)	$	143,792	$	143,792
Changyong Yang    (2)		-		122,820
Xin Sui            (3)		1,992		6,992
Baozhen Deng       (4)		8,746		8,590
Shenzhen Baileqi S&T (5)		34,421		41,405
	$	188,951	$	323,599

(1) Ben Wong was the controlling shareholder of Shinning Glory until April 20, 2017, which holds majority shares in Ionix Technology, Inc.

(2) Changyong Yang is a stockholder of the Company, who owns approximately 2% of the Company’s outstanding common stock, and the owner of Keenest.

(3) Xin Sui is a member of the board of directors of Welly Surplus.

(4) Baozhen Deng is a stockholder of the Company, who owns approximately 1.5% of the Company’s outstanding common stock, and the owner of Shenzhen Baileqi S&T.

(5) Shenzhen Baileqi S&T is a company established in China and 100% owned by Baozhen Deng, a stockholder of the Company.

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CONCENTRATION (Tables)

3 Months Ended

Sep. 30, 2017

Concentration Of Risks Tables

Schedule of concentration risk

Customers who accounted for 10% or more of the Company’s revenues for the three months ended September 30, 2017 and 2016 respectively and its outstanding balance of accounts receivable as of September 30, 2017 and 2016 respectively are presented as follows:

	For the three months ended September 30, 2017					As of September 30, 2017
	Revenue		Percentage of revenue			Accounts receivable		Percentage of accounts receivable
Customer A	$	65,637		17	%	$	-		-	%
Customer B		91,692		24	%		-		-	%
Customer C		45,514		12	%		-		-	%
Total	$	202,843		53	%	$	-		-	%

	For the three months ended September 30, 2016					As of September 30, 2016
	Revenue		Percentage of revenue			Accounts receivable		Percentage of accounts receivable
Customer A	$	29,765		69	%	$	34,725		100	%
Customer B		13,385		31	%		-		-	%
Total	$	43,150		100	%	$	34,725		100	%

Schedule of major suppliers

The supplier who accounted for 10% or more of the Company’s total purchases (materials and services) for the three months ended September 30, 2017 and 2016 respectively and its outstanding balance of accounts payable as of September 30, 2017 and 2016 respectively are presented as follows:

	For the three months ended  September 30, 2017					As of September 30, 2017
	Total Purchase		Percentage of total purchase			Accounts payable		Percentage of accounts payable
Supplier A-related party	$	63,645		12	%	$	-		-	%
Supplier B-related party		366,568		68	%		5,828		5	%
Total	$	430,213		80	%	$	5,828		5	%

	For the three months ended  September 30, 2016					As of September 30, 2016
	Total Purchase		Percentage of total purchase			Accounts payable		Percentage of accounts payable
Supplier A-related party	$	93,808		25	%	$	109,436		46	%
Supplier B-related party		43,247		12	%		-		-	%
Total	$	137,055		37	%	$	109,436		46	%

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INCOME TAXES (Tables)

3 Months Ended

Sep. 30, 2017

Income Tax Disclosure [Abstract]

Schedule of reconciliation of income tax expense

 The reconciliation of income tax expense at the U.S. statutory rate of 35% to the Company’s effective tax rate is as follows:

	For the three months ended September 30
	2017			2016
U.S. Statutory rate	$	(3,008	)	$	(13,704	)
Tax rate difference between China and U.S.		1,125			9,016
Change in Valuation Allowance		3,492			4,870
Effective tax rate	$	1,609		$	182

Schedule of provisions for income taxes

The provisions for income taxes are summarized as follows:

	For the three months ended September 30,
	2017		2016
Current	$	1,609	$	182
Deferred		-		-
Total	$	1,609	$	182

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NATURE OF OPERATIONS (Details) - HKD	Dec. 29, 2016	Apr. 30, 2017	Aug. 19, 2016
Taizhou Ionix [Member]
Issued and outstanding stock acquired			100.00%
Xinyu Ionix [Member]
Issued and outstanding stock acquired		100.00%
Mr. GuoEn Li [Member] | Taizhou Ionix [Member]
Issued and outstanding stock acquired			100.00%
Mr. Zhengfu Nan [Member] | Xinyu Ionix [Member]
Issued and outstanding stock acquired		100.00%
Welly Surplus [Member]
Issued and outstanding stock acquired	99.999%
Welly Surplus [Member] | Director [Member]
Ownership percentage	0.001%
Welly Surplus [Member] | Hong Kong [Member]
Purchase price	HKD 99,999

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GOING CONCERN (Details) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Going Concern Details
Accumulated deficit	$ (193,645)	$ (183,441)

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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	Sep. 30, 2017	Jun. 30, 2017	Sep. 30, 2016
Income and Cash Flow [Member]
Exchange rate	6.7138		6.6506
Balance Sheet [Member]
Exchange rate	6.6532	6.7744

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DISCONTINUED OPERATIONS (Details) - USD ($)	2 Months Ended	3 Months Ended
	Aug. 19, 2016	Sep. 30, 2017	Sep. 30, 2016
Net income			$ 46,554
Taizhou Ionix [Member]
Revenue	$ 173,005
Cost of revenue	152,465
Gross profit	20,540
Selling, general and administrative expenses	8,917
Income before income taxes	11,623
Provision for income taxes	2,906
Net income	$ 8,717
Xinyu Ionix [Member]
Revenue			844,109
Cost of revenue			756,570
Gross profit			87,539
Selling, general and administrative expenses			11,902
Income before income taxes			75,637
Provision for income taxes			18,910
Net income			$ 56,727

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DISCONTINUED OPERATIONS (Details Narrative)	2 Months Ended	3 Months Ended	10 Months Ended
	Aug. 19, 2016 CNY (¥)	Sep. 30, 2017 USD ($)	Apr. 30, 2017 CNY (¥)
Taizhou Ionix [Member]
Percentage of equity interests sold	100.00%
Proceeds from sale of business		$ 5,000
Gain on sale of business		(18,890)
Xinyu Ionix [Member]
Percentage of equity interests sold			100.00%
Proceeds from sale of business		$ 14
CNY [Member] | Taizhou Ionix [Member]
Proceeds from sale of business | ¥	¥ 30,000
CNY [Member] | Xinyu Ionix [Member]
Proceeds from sale of business | ¥			¥ 100

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INVENTORIES (Details) - USD ($)	Sep. 30, 2017	Jun. 30, 2017
Inventories Details
Raw materials		$ 53,163
Finished goods	278,070
Total inventory	$ 278,070	$ 53,163

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OTHER RECEIVABLES (Details) - USD ($)		Sep. 30, 2017	Jun. 30, 2017
Due to related parties		$ 188,951	$ 323,599
Ben Wong [Member]
Due to related parties	[1]	143,792	143,792
Changyong Yang [Member]
Due to related parties	[2]		122,820
Xin Sui [Member]
Due to related parties	[3]	1,992	6,992
Baozhen Deng [Member]
Due to related parties	[4]	8,746	8,590
Shenzhen Baileqi S&T [Member]
Due to related parties	[5]	$ 34,421	$ 41,405

[1] Ben Wong was the controlling shareholder of Shinning Glory until April 20, 2017, which holds majority shares in Ionix Technology, Inc.

[2] Changyong Yang is a stockholder of the Company, who owns approximately 2% of the Company's outstanding common stock, and the owner of Keenest.

[3] Xin Sui is a member of the board of directors of Welly Surplus.

[4] Baozhen Deng is a stockholder of the Company, who owns approximately 1.5% of the Company's outstanding common stock, and the owner of Shenzhen Baileqi S&T.

[5] Shenzhen Baileqi S&T is a company established in China and 100% owned by Baozhen Deng, a stockholder of the Company.

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OTHER RECEIVABLES (Details Narrative) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Related Party Transaction [Line Items]
Cost of revenue - related party	$ 271,651	$ 38,563
Manufacturing costs	44,167	0
Advances from related parties	(136,600)	418,043
Taizhou Ionix [Member]
Related Party Transaction [Line Items]
Proceeds from sale of business	5,000
Well Best [Member] | Taizhou Ionix [Member]
Related Party Transaction [Line Items]
Proceeds from sale of business		$ 5,000
Xin Sui [Member] | Welly Surplus [Member]
Related Party Transaction [Line Items]
Advances from related parties	$ 5,000
Shenzhen Baileqi S&T [Member]
Related Party Transaction [Line Items]
Ownership percentage	1.50%	1.50%
Due to related parties	$ 5,828		$ 159,861
Purchases from related party	174,465	$ 43,247
Cost of revenue - related party	163,839	11,177
Manufacturing costs	192,103	0
Shenzhen Baileqi S&T [Member] | Baileqi Electronic [Member]
Related Party Transaction [Line Items]
Advances from related parties	7,671
Changyong Yang [Member] | Lisite Science [Member]
Related Party Transaction [Line Items]
Advances from related parties	122,820	358,156
Ben Wong [Member] | Well Best [Member]
Related Party Transaction [Line Items]
Advances from related parties	$ 577
Baozhen Deng [Member] | Baileqi Electronic [Member]
Related Party Transaction [Line Items]
Advances from related parties		$ 63,080
Keenest [Member]
Related Party Transaction [Line Items]
Ownership percentage	2.00%	2.00%
Purchases from related party	$ 63,645	$ 93,808
Cost of revenue - related party	63,645	$ 27,386
Advances from related parties	$ 89,180

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CONCENTRATION (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Jun. 30, 2017
Revenues	$ 381,541	$ 43,150
Accounts receivables	919		$ 292,265
Accounts payable	110,382		$ 96,378
Revenue [Member]
Revenues	$ 202,843	$ 43,150
Concentration risk percentage	53.00%	100.00%
Revenue [Member] | Customer A [Member]
Revenues	$ 65,637	$ 29,765
Concentration risk percentage	17.00%	69.00%
Revenue [Member] | Customer B [Member]
Revenues	$ 91,692	$ 13,385
Concentration risk percentage	24.00%	31.00%
Revenue [Member] | Customer C [Member]
Revenues	$ 45,514
Concentration risk percentage	12.00%
Accounts Receivable [Member]
Accounts receivables		$ 34,725
Concentration risk percentage		100.00%
Accounts Receivable [Member] | Customer A [Member]
Accounts receivables		$ 34,725
Concentration risk percentage		100.00%
Accounts Receivable [Member] | Customer B [Member]
Accounts receivables
Concentration risk percentage
Accounts Receivable [Member] | Customer C [Member]
Accounts receivables
Concentration risk percentage
Purchases [Member]
Purchases	$ 430,213	$ 137,055
Concentration risk percentage	80.00%	37.00%
Purchases [Member] | Supplier A [Member]
Purchases	$ 63,645	$ 93,808
Concentration risk percentage	12.00%	25.00%
Purchases [Member] | Supplier B [Member]
Purchases	$ 366,568	$ 43,247
Concentration risk percentage	68.00%	12.00%
Accounts Payable [Member]
Accounts payable	$ 5,828	$ 109,436
Concentration risk percentage	5.00%	46.00%
Accounts Payable [Member] | Supplier A [Member]
Accounts payable		$ 109,436
Concentration risk percentage		46.00%
Accounts Payable [Member] | Supplier B [Member]
Accounts payable	$ 5,828
Concentration risk percentage	5.00%

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INCOME TAXES (Details) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
U.S. Statutory rate	$ (3,008)	$ (13,704)
Tax rate difference between China and U.S.	1,125	9,016
Change in Valuation Allowance	3,492	4,870
Total	$ 1,609	$ 182

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INCOME TAXES (Details 1) - USD ($)	3 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Current	$ 1,609	$ 182
Deferred
Total	$ 1,609	$ 182

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INCOME TAXES (Details Narrative)	3 Months Ended
	Sep. 30, 2017 USD ($)
Penalty assessment	$ 10,000
Statutory rate	35.00%
Operating loss carryforwards	$ 260,000
Expiration year	2035
CHINA
Statutory rate	25.00%
UNITED STATES
Statutory rate	25.00%