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Segment Reporting

12 Months Ended

Mar. 31, 2018

Segment Reporting [Abstract]

SEGMENT REPORTING

12 — SEGMENT REPORTING

The following provides the results of operations and the financial position of the Company’s operating segments as of and during the year ended March 31, 2018. The Company did not have operating segments as of and for the year ended March 31, 2017; accordingly, comparative figures are not provided. The Longyun operating segment reflects the Company’s crowdfunding and incubation business. The Taikexi operating segment reflects the Company’s business of auto parts sourcing and logistics services.

Results of Operations 

For the year ended March 31, 2018

			Longyun				Taikexi				Other				Total
	Revenue			4,271,966				6,763				-				4,278,729
	Operating expenses			2,105,441				176,543				1,612,704				3,894,688
	Other income (expenses)			248,655				211				126,011				374,877
	Earnings (loss) before tax			2,415,180				(169,569	)			(1,486,693	)			758,918
	Taxes			633,614				-				-				633,614
	Net income			1,781,566				(169,569	)			(1,486,693	)			125,304
	Income (loss) attributable to LYL			1,781,566				(101,742	)			(1,486,693	)			193,131

Financial Position

as of March 31, 2018

			Longyun				Taikexi				Other				Total
	Current assets			11,096,311				828,844				(132,088	)			11,793,067
	Non-current assets			2,218,191				139,639				(1,133,199	)			1,224,631
	Total assets			13,314,502				968,483				(1,265,287	)			13,017,698
	Current liabilities			4,993,098				1,992				(2,970,885	)			2,024,205
	Non-current liabilities			-				-				-				-
	Total liabilities			4,993,098				1,992				(2,970,885	)			2,024,205
	Net assets			8,321,404				966,491				1,705,598				10,993,493

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- References

No definition available.

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-URI http://asc.fasb.org/topic&trid=2134510

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