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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Mar. 31, 2025

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Schedule of estimated useful lives of the assets

​

​	​	​
Items		Useful life
Property and buildings		20–40 years
Leasehold improvement		Lesser of useful life and lease term
Machinery and equipment		3–10 years
Automobiles		3–5 years
Office and electric equipment		3–5 years

Schedule of estimated useful lives of intangible assets

​

​	​	​
Items		Useful life
Land use rights		50 years
Software		10 years
License for drug manufacturing		10 years

Schedule of shareholders' equity for the non-controlling interest from each subsidiary that is not 100% owned

​

​	​	​	​	​	​	​
​	​	As of
​	​	March 31,		​	September 30,
​	​	2025		​	2024
Gansu QLS		$	1,161,373		$	1,146,121
Chengdu QLS and subsidiaries		​	184,899		​	181,315
Zhongqiao		​	21,923		​	22,069
Total	​	$	1,368,195	​	$	1,349,505

Schedule of selling, general and administrative, research and development expense

​

​	​	​	​	​	​	​	​	​	​
​	​	For the six months ended
​	​	March 31,
​	​	2025			2024			2023
Selling expense		$	451,145	​	$	229,092	​	$	445,154
General and administrative expense	​		3,770,496	​	​	1,396,655	​	​	1,366,888
Research and development expense	​		528,099	​	​	467,363	​	​	272,073
Total	​	$	4,749,740	​	$	2,093,110	​	$	2,084,115

Schedule of computation of basic and diluted earnings (loss) per share

​

​	​	​	​	​	​	​	​	​	​	​
​	​	For the six months ended March 31,
​		2025			2024*			2023*
Numerator:	​	​	​	​	​	​	​	​	​	​
Net income (loss) attributable to ordinary shareholders	​	$	(861,220)	​	$	414,468	​	$	495,521	​
​	​	​	​	​	​	​	​	​	​	​
Denominator:	​		​	​		​	​		​	​
Weighted-average number of ordinary shares outstanding – basic	​		31,615,463	​	​	7,226,480	*	​	7,226,480	*
Weighted-average number of ordinary shares outstanding – diluted	​		31,615,463	​	​	7,226,480	*	​	7,226,480	*
Earnings (loss) per share – basic	​	$	(0.03)	​	$	0.06	​	$	0.07	​
Earnings (loss) per share – diluted	​	$	(0.03)	​	$	0.06	​	$	0.07	​

*The shares and per share data are presented on a retroactive basis to reflect the Company’s Share Consolidation.

Schedule of currency exchange rates

​

​	​	​	​	​
​		March 31, 2025		September 30, 2024
Year-end spot rate		US$1=RMB 7.1782	​	US$1=RMB 7.0074
​	​	​	​	​
Average rate		US$1=RMB 7.1671	​	US$1=RMB 7.1178

Schedule of reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on recurring basis

​

​	​	​	​	​	​	​	​	​	​
​		As of			As of			As of
​	​	March 31,		​	March 31,		​	March 31,
​	​	2025		​	2024		​	2023
Beginning balance	​	$	8,323,587	​	$	13,943,019	​	​	19,470,400
Change in fair value	​		(3,433,407)	​		1,066,927	​	​	245,800
Ending balance	​	$	4,890,180	​	$	15,009,946	​	​	19,716,200

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Tabular disclosure of redeemable noncontrolling interest (as defined) included in the statement of financial position as either a liability or temporary equity. As of the date of the statement of financial position, such redeemable noncontrolling interest is currently redeemable, as defined, for cash or other assets of the entity at (1) at a fixed or determinable price on a fixed or determinable date, (2) at the option of the holder of the noncontrolling interest, or (3) upon occurrence of an event that is not solely within the control of the entity.

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Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 260
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

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-Topic 820
-SubTopic 10
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-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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