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ADVANCES TO VENDORS

12 Months Ended

Mar. 31, 2026

NOTE 4 —ADVANCES TO VENDORS

Advances to vendors, net, consist of the following:


		As of March 31,
		2026			2025
Advances to vendors for outsourcing the value-added services		$	5,020,775		$	9,400,197
Less: allowance for doubtful accounts			—			—
Advance to vendors, net		$	5,020,775		$	9,400,197

Advances to vendors represents balance paid to various vendors for performing the auto insurance aftermarket value-added services (such as car wash, car towing and car inspection, etc.) that the Company outsources to them, and such services have not been completed as of the balance sheet dates. Advances to vendors also include prepayment to external media channel operators in order to help customers to post their ads. These advances are interest free, unsecured and short-term in nature and are reviewed periodically to determine whether their carrying value has become impaired. As of March 31, 2026 and 2025, there was no allowance recorded as the Company considers all of the advance to vendors balance fully realizable.

For the balance as of March 31, 2025, approximately $8.99 million or 95.6% of advances to vendors balance has been realized. For the balance as of March 31, 2026, approximately $2.5 million or 49.9% has been realized when the vendors rendered the value-added services for the Company, and the remaining balance is expected to be realized by the end of September 2026.