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Related Party Transaction and Balance
 12 Months Ended
Mar. 31, 2025
Related Party Transaction and Balance [Abstract]  
Related Party Transaction and Balance

13. Related Party Transaction and Balance

 

a. Nature of relationships with related parties

 

Name   Relationship with the Company
Mr. Huaixi Yang   Immediate family member of Ms. Junli Yang, the Chairwoman of the Board.
PRO800 Limited (“PRO800”)   Wholly owned by Ms. Junli Yang, the controlling shareholder of the Company.
Zhong Yang Holdings Limited   Predecessor Parent Company, owned by the same group of shareholders and determined to be a related party upon the completion of the Reorganization on March 26, 2020
Sunx Global Limited      Predecessor Parent Company owns 95% of Sunx Global Limited and ceased to be a related party of the Company from February 28, 2024
WSYQR Limited     Wholly owned by Mr. Huaixi Yang before April 1, 2023, and ceased to be a related party of the Company from May 24, 2023.

Sincere Creative Investment LPF

   Indirect subsidiary owns 20% of Sincere Creative Investment LPF.

 

b. Related parties transactions 

 

      For the Years Ended March 31, 
   Nature  2025   2024   2023 
Mr. Huaixi Yang  Gross commission income  $10,204   $-   $1,962 
Mr. Huaixi Yang  Handling income  $13,128   $
-
   $
-
 
Mr. Huaixi Yang  Interest income  $

169,549

   $179,217   $96,317 
WSYQR Limited  Gross commission income  $-   $-   $8,884 

 

On April 12, 2023, the Company, through ZYAL, closed an acquisition of 100% equity interest in TOP 500 SEC PTY LTD (“Top 500”) from PRO800 at cash consideration of $700,000. The Company fully paid the cash consideration by closing date.

 

c. Balance with related parties

 

   Nature  March 31,
2025		   March 31,
2024		 
              
Mr. Huaixi Yang  Receivable due from customers – a related party  $
     -
   $1,548,088 
Mr. Huaixi Yang  Payable due to customers – a related party  $880,336   $
-
 

 

The balance due from Mr. Huaixi Yang represented the purchase price of stock exceeding the deposits paid by customers which traded these US stocks through the Company’s platform. The US stocks were under custodian of the Company, and the related parties shall fully paid the balance to the Company before they sold these stocks. For the years ended March 31, 2025 and 2024, the Company provided expected credit loss of $nil and $159,401 against the receivables due from Mr. Yang because the fair value of the stocks were below the receivables due from Mr. Yang.