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LONG-TERM INVESTMENT | 6 Months Ended
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Mar. 31, 2025
LONG-TERM INVESTMENT |
LONG-TERM INVESTMENT | NOTE 8 – LONG-TERM INVESTMENT In July 2024, Qilian International acquired 25% ownership interest of Caihou Capital (Shenzhen) Group Co., Ltd (“Caihou”) with a total investment amount of RMB25,000,000, which have been paid in the amount of RMB10,000,000 ($1,402,584 equivalent) in 2024.The investment was accounted for using equity method. The remaining RMB 15 million was fully paid on October 28, 2024. Equity method investment consisted of the following:
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of |  | As of
​ | ​ | March 31, 2025 | ​ | September 30, 2024
Equity method investment: |  | ​ |  |  | ​ |
Cost of equity method investment |  | ​ | 3,482,767 |  | ​ | 4,038,588
Share of results of associates |  | ​ | (330,981) |  | ​ | (204,648)
Loss on disposal of Long term investment | ​ | ​ | — | ​ | ​ | (101,354)
Profit from equity method investment | ​ | ​ | — | ​ | ​ | 160,032
Dividend Distribution received |  | ​ | — |  | ​ | (57,083)
Investment disposed | ​ | ​ | — | ​ | ​ | (470,931)
Exchange rate difference | ​ | ​ | 1,920 | ​ | ​ | (4,818)
Total long-term investment | ​ | $ | 3,153,706 | ​ | $ | 3,359,786
​ The change of share of results of associates are as follow: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | As of |  | As of
​ | ​ | March 31, 2025 | ​ | September 30, 2024
Beginning balance | ​ | $ | 204,648 | ​ | $ | —
Addition | ​ |  | 126,333 | ​ |  | 204,648
Ending balance | ​ | $ | 330,981 | ​ | $ | 204,648
​

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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