<SEC-DOCUMENT>0001213900-25-053434.txt : 20250611
<SEC-HEADER>0001213900-25-053434.hdr.sgml : 20250611
<ACCEPTANCE-DATETIME>20250611160619
ACCESSION NUMBER:		0001213900-25-053434
CONFORMED SUBMISSION TYPE:	F-1/A
PUBLIC DOCUMENT COUNT:		80
FILED AS OF DATE:		20250611
DATE AS OF CHANGE:		20250611

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Raytech Holding Ltd
		CENTRAL INDEX KEY:			0001948443
		STANDARD INDUSTRIAL CLASSIFICATION:	HOUSEHOLD APPLIANCES [3630]
		ORGANIZATION NAME:           	04 Manufacturing
		EIN:				000000000
		STATE OF INCORPORATION:			D8

	FILING VALUES:
		FORM TYPE:		F-1/A
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-287842
		FILM NUMBER:		251039979

	BUSINESS ADDRESS:	
		STREET 1:		UNIT 9, 6/F NAN FUNG COMMERCIAL CENTRE
		STREET 2:		19 LAM LOK STREET
		CITY:			KOWLOON BAY
		STATE:			K3
		ZIP:			999077
		BUSINESS PHONE:		85221170236

	MAIL ADDRESS:	
		STREET 1:		UNIT 9, 6/F NAN FUNG COMMERCIAL CENTRE
		STREET 2:		19 LAM LOK STREET
		CITY:			KOWLOON BAY
		STATE:			K3
		ZIP:			999077
</SEC-HEADER>
<DOCUMENT>
<TYPE>F-1/A
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<FILENAME>ea0245235-f1a1_raytech.htm
<DESCRIPTION>AMENDMENT NO. 1 TO FORM F-1
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b style="-keep: true">As filed with the Securities and Exchange
Commission on June 11, 2025</b></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><b style="-keep: true">Registration No. 333-287842</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNITED STATES<br/>
SECURITIES AND EXCHANGE COMMISSION<br/>
Washington, D.C. 20549</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><ix:nonNumeric contextRef="c0" name="dei:AmendmentDescription" id="ixv-33"><b style="-keep: true">AMENDMENT NO. 1</b></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b style="-keep: true">TO</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b style="-keep: true">FORM <span style="-sec-ix-hidden: hidden-fact-0">F-1</span></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>REGISTRATION STATEMENT<br/>
UNDER<br/>
THE SECURITIES ACT OF 1933</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><ix:nonNumeric contextRef="c0" name="dei:EntityRegistrantName" id="ixv-54"><b>RAYTECH HOLDING LIMITED</b></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in its charter)</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="border-bottom: Black 1.5pt solid; text-align: center; width: 32%"><ix:nonNumeric contextRef="c0" format="ixt-sec:edgarprovcountryen" name="dei:EntityIncorporationStateCountryCode" id="ixv-64"><b>British Virgin Islands</b></ix:nonNumeric></td> <td style="padding-bottom: 1.5pt; text-align: center; width: 2%">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: center; width: 32%"><ix:nonNumeric contextRef="c0" name="dei:EntityAddressPostalZipCode" id="ixv-68"><b>3630</b></ix:nonNumeric></td> <td style="padding-bottom: 1.5pt; text-align: center; width: 2%">&#160;</td> <td style="border-bottom: Black 1.5pt solid; text-align: center; width: 32%"><b>Not Applicable</b></td></tr> <tr style="vertical-align: top"> <td style="text-align: center">(State or other jurisdiction of<br/>
incorporation or organization)</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">(Primary Standard Industrial<br/>
Classification Code Number)</td> <td style="text-align: center">&#160;</td> <td style="text-align: center">(I.R.S. Employer<br/>
Identification Number)</td></tr> </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><ix:nonNumeric contextRef="c0" name="dei:EntityAddressAddressLine1" id="ixv-21954">Unit 609, 6/F, Nan Fung Commercial Centre</ix:nonNumeric>,</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><ix:nonNumeric contextRef="c0" name="dei:EntityAddressAddressLine2" id="ixv-21955">No. 19 Lam Lok Street, Kowloon Bay</ix:nonNumeric>, <ix:nonNumeric contextRef="c0" name="dei:EntityAddressCityOrTown" id="ixv-21956"><ix:nonNumeric contextRef="c0" format="ixt-sec:countrynameen" name="dei:EntityAddressCountry" id="ixv-21957">Hong
Kong</ix:nonNumeric></ix:nonNumeric></b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Address, including zip code, and telephone number,
including area code, of registrant&#8217;s principal executive offices)</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><ix:nonNumeric contextRef="c1" name="dei:ContactPersonnelName" id="ixv-100"><b>Puglisi &amp; Associates</b></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><ix:nonNumeric contextRef="c1" name="dei:EntityAddressAddressLine1" id="ixv-21960">850 Library Ave.</ix:nonNumeric>, <ix:nonNumeric contextRef="c1" name="dei:EntityAddressAddressLine2" id="ixv-21961">Suite 204</ix:nonNumeric></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><ix:nonNumeric contextRef="c1" name="dei:EntityAddressCityOrTown" id="ixv-21962">Newark</ix:nonNumeric>, <ix:nonNumeric contextRef="c1" format="ixt-sec:stateprovnameen" name="dei:EntityAddressStateOrProvince" id="ixv-21963">Delaware</ix:nonNumeric> <ix:nonNumeric contextRef="c1" name="dei:EntityAddressPostalZipCode" id="ixv-21964">19711</ix:nonNumeric></b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Name, address, including zip code, and telephone
number, including area code, of agent for service)</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><i>With a Copy to:</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 32%; text-align: center"><b>Henry Yin, Esq.<br/>
Benjamin Yao, Esq. <br/>
Loeb &amp; Loeb LLP<br/>
2206-19 Jardine House<br/>
1 Connaught Place<br/>
Central, Hong Kong SAR<br/>
(852) 3923-1111</b></td>
    <td style="width: 2%; text-align: center">&#160;</td>
    <td style="width: 32%; text-align: center"><b>Joan S. Guilfoyle, Esq.<br/>
Loeb &amp; Loeb LLP<br/>
901 New York Avenue, NW<br/>
Suite 300 West<br/>
Washington, DC 20001<br/>
(202) 618-5000</b></td>
    <td style="width: 2%; text-align: center">&#160;</td>
    <td style="width: 32%; text-align: center">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Morris C. Zarif, Esq. </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Zarif Law Group P.C.</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>603 Laurel Avenue</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Allenhurst, NJ 07711</b></p>

<p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><b>(917) 232-6547</b></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p>
</td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Approximate date of commencement
of proposed sale to the public:</b> Promptly after the effective date of this registration statement.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If any of the securities being
registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check
the following box: <span style="font-family: Times New Roman, Times, Serif">&#9744;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If this Form is filed to register
additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities
Act registration statement number of the earlier effective registration statement for the same offering. <span style="font-family: Times New Roman, Times, Serif">&#9744;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If this Form is a post-effective
amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. <span style="font-family: Times New Roman, Times, Serif">&#9744;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If this Form is a post-effective
amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement
number of the earlier effective registration statement for the same offering. <span style="font-family: Times New Roman, Times, Serif">&#9744;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Indicate by check mark whether
the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 0.25in">Emerging growth company <ix:nonNumeric contextRef="c0" format="ixt-sec:boolballotbox" name="dei:EntityEmergingGrowthCompany" id="ixv-187"><span style="font-family: Times New Roman, Times, Serif">&#9746;</span></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If an emerging growth company
that prepares its financial statements in accordance with U.S. GAAP, indicate by check mark if the registrant has elected not to use the
extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B)
of the Securities Act <ix:nonNumeric contextRef="c0" format="ixt-sec:boolballotbox" name="dei:EntityExTransitionPeriod" id="ixv-193"><span style="font-family: Times New Roman, Times, Serif">&#9744;</span></ix:nonNumeric></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>The Registrant hereby amends
this registration statement on such date or dates as may be necessary to delay its effective date until the Registrant shall file a further
amendment which specifically states that this registration statement shall thereafter become effective in accordance with Section 8(a)
of the Securities Act of 1933, as amended, or until the registration statement shall become effective on such date as the U.S. Securities
and Exchange Commission, acting pursuant to such Section 8(a), may determine.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><!-- Field: Rule-Page --><div style="width: 100%"><div style="font-size: 1pt; border-top: Black 1pt solid; border-bottom: Black 2pt solid">&#160;</div></div><!-- Field: /Rule-Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="margin: 0pt"></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="color: Red"><b>The information in
this prospectus is not complete and may be changed. We may not sell the securities until the registration statement filed with the Securities
and Exchange Commission is effective. This preliminary prospectus is not an offer to sell these securities and we are not soliciting
any offer to buy these securities in any jurisdiction where such offer or sale is not permitted.</b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 40%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red"><b>Preliminary Prospectus</b></span></td>
    <td style="text-align: right; width: 60%"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Red"><b>SUBJECT
                                            TO COMPLETION, DATED JUNE 11, 2025</b></span></p></td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><b>30,000,000 Ordinary Shares</b>&#160;</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED </b>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are offering on a&#160;best
efforts basis up 30,000,000 ordinary shares of Raytech Holding Limited (together with its consolidated subsidiaries, the &#8220;Company&#8221;,
&#8220;Raytech Holding&#8221;, &#8220;we&#8221;, &#8220;us&#8221; or &#8220;our&#8221;), par value $0.00000625 per share (&#8220;Ordinary
Shares&#8221;), at a price of $[&#9679;] per share.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="-keep: true">Our Ordinary Shares are
listed on The Nasdaq Capital Market under the symbol &#8220;RAY&#8221;. The last reported sale price of our Ordinary Shares on The Nasdaq
Capital Market on June 10, 2025 was $1.23 per Ordinary Share.</span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Investing in Raytech Holding&#8217;s
Ordinary Shares involves a high degree of risk, including the risk of losing your entire investment. See &#8220;Risk Factors&#8221; beginning
on page 26 of this Registration Statement on Form F-1 (this &#8220;Registration Statement&#8221;) of which this prospectus forms a part
for a discussion of factors you should consider in connection with an investment in our securities.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Upon the completion of this
offering, Raytech Holding will have 47,613,083 Ordinary Shares issued and outstanding. Each Ordinary Share is entitled to one vote. Raytech
Holding&#8217;s Chief Executive Officer and Chairman, Mr. Ching Tim Hoi, beneficially owns 12,800,000 Ordinary Shares, representing 26.9%
of the total voting power of Raytech Holding&#8217;s issued and outstanding share capital immediately following the completing of this
offering. Because no individual, group or another company will own more than 50% of the total voting power for the election of directors,
upon the completion of this offering, Raytech Holding will not be a &#8220;controlled company&#8221; as defined under the Nasdaq Stock
Market Rules. Prior to this offering, Raytech Holding qualified as a &#8220;controlled company.&#8221; Notwithstanding its eligibility
for certain exemptions from Nasdaq&#8217;s corporate governance requirements available to controlled companies during that period, Raytech
Holding voluntarily chose to comply with, and historically has complied with, such Nasdaq corporate governance requirements, including
those pertaining to a majority independent board and independent board committees. As Raytech Holding will no longer be eligible for the
exemptions available to a &#8220;controlled company&#8221; under the Nasdaq listing rules following this offering, Raytech Holding will
continue to be subject to these full corporate governance requirements as mandated by these Nasdaq corporate governance standards.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is a holding company incorporated in the British Virgin
Islands (&#8220;BVI&#8221;). As a holding company with no material operations of its own, Raytech Holding&#8217;s operations are conducted
by its wholly-owned subsidiary, Pure Beauty Manufacturing Company Limited (&#8220;Pure Beauty&#8221;), which is headquartered in Hong
Kong, a special administrative region of the People&#8217;s Republic of China (the &#8220;PRC&#8221;). On May 6, 2025, Raytech Holding
established another wholly-owned subsidiary, Raytech Innovation Limited (&#8220;Raytech Innovation&#8221;), also incorporated in Hong
Kong; as of the date of this prospectus, Raytech Innovation has not commenced operations and has no assets. This is an offering of the
Ordinary Shares of Raytech Holding, the holding company incorporated in BVI, instead of shares of its operating entities in Hong Kong,
Pure Beauty or Raytech Innovation. You may never directly hold any equity interest in Raytech Holding&#8217;s operating entities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are not based in mainland China and do not have operations or generate
revenue in mainland China, except that the manufacturers that manufacture our products are located in mainland China. We currently do
not have or intend to set up any subsidiary in mainland China, and do not foresee the need to enter into any contractual arrangements
with a variable interest entity (&#8220;VIE&#8221;) to establish a VIE structure in mainland China. For the six months ended September
30, 2024 and the fiscal years ended March 31, 2024, and 2023, we generated all our revenues from Hong Kong through Pure Beauty. Pursuant
to the Basic Law of the Hong Kong Special Administrative Region (the &#8220;Basic Law&#8221;), which is a national law of the PRC and
the constitutional document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those listed in Annex
III of the Basic Law and applied locally by promulgation or local legislation. The Basic Law expressly provides that the national laws
of the PRC which may be listed in Annex III of the Basic Law shall be confined to those relating to defense and foreign affairs as well
as other matters outside the autonomy of Hong Kong. The basic policies of the PRC regarding Hong Kong as a special administrative region
of the PRC are reflected in the Basic Law, providing Hong Kong with a high degree of autonomy and executive, legislative and independent
judicial powers, including that of final adjudication under the principle of &#8220;one country, two systems&#8221;.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">However, in light of the PRC
government&#8217;s recent expansion of authority in Hong Kong, we may be subject to uncertainty about any future actions of the PRC government
or authorities in Hong Kong, and it is possible that all the legal and operational risks associated with being based in and having operations
in mainland China may also apply to operations in Hong Kong in the future. There is no assurance that there will not be any changes in
the economic, political and legal environment in Hong Kong. The PRC government may intervene or influence our current and future operations
in Hong Kong at any time, or may exert more control over offerings conducted overseas and/or foreign investment in issuers like Raytech
Holding. Such governmental actions, if and when they occur: (i) could significantly limit or completely hinder our ability to continue
our operations; (ii) could significantly limit or completely hinder our ability to offer or continue to offer Raytech Holding&#8217;s
Ordinary Shares to investors; and (iii) may cause the value of Raytech Holding&#8217;s Ordinary Shares to significantly decline or become
worthless.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are also aware that recently,
the government of mainland China initiated a series of regulatory actions and statements to regulate business operations in certain areas
in mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision
over mainland Chinese companies listed overseas using a VIE structure, adopting new measures to extend the scope of cybersecurity reviews,
and expanding the efforts in anti-monopoly enforcement. Since these statements and regulatory actions are new, it is highly uncertain
how soon the legislative or administrative regulation making bodies will respond and what existing or new laws or regulations or detailed
implementations and interpretations will be modified or promulgated, if any. In addition, due to long arm provisions under the current
laws and regulations of mainland China, there remains regulatory uncertainty with respect to whether in the future we will be required
to obtain permissions or approvals from the authorities of mainland China to operate our business or to list Raytech Holding&#8217;s securities
on the U.S. exchanges and offer securities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As advised by Raytech Holding&#8217;s
legal counsel in mainland China (&#8220;PRC Counsel&#8221;), AllBright Law Offices (Fuzhou), as of the date of this prospectus, on the
basis that (i) we currently do not have or intend to set up any subsidiary or VIE structure in mainland China, (ii) we do not have any
business operations in mainland China, except that we collaborate with manufacturers located in mainland China to manufacture our products,
(iii) none of our clients are located in mainland China, and (iv) we possess personal information of less than 1 million individuals in
the PRC (for the purpose of this subsection (iv) only, including the special administrative regions of Hong Kong and Macau and Taiwan),
and do not possess any core data or important data of the PRC or any information which affects or may affect national security of the
PRC, we believe, we are currently not required to obtain any permission or approval from the Cyberspace Administration of China (the &#8220;CAC&#8221;)
or any other governmental authorities of mainland China to operate our business or offer subsequent securities of the company, nor have
we been denied of any permissions or approvals from the authorities of mainland China.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to the Trial Administrative Measures of the Overseas Securities
Offering and Listing by Domestic Companies, or the Overseas Listing Trial Measures, promulgated by the China Securities Regulatory Commission
(the &#8220;CSRC&#8221;) on February 17, 2023 and became effective on March 31, 2023, a domestic company in the PRC that seeks to offer
and list securities on overseas markets shall fulfill the filing procedures with the CSRC as per requirement of the Overseas Listing Trial
Measures. This includes subsequent securities offerings of the company in the same overseas market where it has previously offered and
listed securities, which requires a company to file with the CSRC within three working&#160;days after the subsequent securities offering
is completed. Article 15 of the Overseas Listing Trial Measures provides that if the issuer both meets the following criteria, the overseas
securities offering and listing conducted by such issuer will be deemed as indirect overseas offering by a mainland China company and
such issuer shall fulfill the CSRC filing procedure: (i) 50% or more of any of the issuer&#8217;s operating revenue, total profit, total
assets or net assets as documented in its audited consolidated financial statements for the most recent fiscal year is accounted for by
mainland China companies; and (ii) the main parts of the issuer&#8217;s business activities are conducted in mainland China, or its main
place(s) of business are located in mainland China, or the majority of senior management staff in charge of its business operations and
management are PRC citizens or have their usual place(s) of residence located in mainland China. As advised by Raytech Holding&#8217;s
PRC Counsel, AllBright Law Offices (Fuzhou), based on the facts that (i) we do not operate any entities in mainland China and the operating
revenue, total profit, total assets or net assets as documented in Raytech Holding&#8217;s audited consolidated financial statements for
the most recent fiscal year is accounted for by our Hong Kong subsidiaries, Pure Beauty located outside mainland China;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">(ii) we do not have any equity
interest in any manufacturer located in mainland China and vice versa; and (iii) we conduct a majority of our business and are headquartered
in Hong Kong rather than in mainland China, and our senior management team are not PRC citizens or have their residence located outside
mainland China, we believe that this offering will not be regarded as a subsequent securities offering in the same overseas market under
the Article 15 of the Overseas Listing Trial Measures, and are not required to fulfill the filing procedures with the CSRC to issue securities
to foreign investors. However, as the Overseas Listing Trial Measures were newly published, there are substantial uncertainties that the
CSRC may take a view that is contrary to our understanding of the Overseas Listing Trial Measures because the Overseas Listing Trial Measures
adopts the principle of &#8220;substance over form&#8221; regarding the determination of &#8220;indirect overseas offering and listing
by a domestic company,&#8221; over which the CSRC may have substantial discretions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on the foregoing, we do not currently expect the laws and regulations
of mainland China to have any material impact on our business, financial conditions or results of operations and we are currently not
subject to the government of mainland China&#8217;s direct influence or discretion over the manner in which we conduct our business activities
outside of mainland China. Furthermore, CLKW Lawyers LLP, Raytech Holding&#8217;s Hong Kong counsel, has advised Raytech Holding that,
as of the date of this prospectus, Raytech Holding is not required to obtain any permission or approval from the governmental authorities
of Hong Kong to list on the U.S. exchanges and offer securities and we have obtained all necessary licenses, permissions or approvals
including the business registration certificate from the governmental authorities of Hong Kong to operate our business through Pure Beauty
and to the best of our knowledge, no license, permission or approval has been denied.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nevertheless, if we (i)
do not receive or maintain such permissions or approvals, should such permissions or approvals be required in the future by the
government of mainland China or Hong Kong, (ii) inadvertently conclude that such permissions or approvals are not required, or (iii)
applicable laws, regulations, or interpretations change and we are required to obtain such permissions or approvals in the future,
we may be unable to obtain such permissions or approvals in a timely manner, or at all, and may face regulatory actions or other
sanctions from the CSRC, the CAC or other PRC or Hong Kong regulatory authorities if we fail to fully comply with any new regulatory
requirements. Consequently, our operations and financial condition could be materially adversely affected, and Raytech
Holding&#8217;s ability to offer securities to investors could be significantly limited or completely hindered and the securities
currently being offered may substantially decline in value and become worthless. If there is significant change to current political
arrangements between mainland China and Hong Kong, the PRC government intervenes or influences operations of companies operated in
Hong Kong like us, or exerts more control through change of laws and regulations over offerings conducted overseas and/or foreign
investment in issuers like us, it may result in a material change in our operations and/or the value of the securities we are
registering for sale or could significantly limit or completely hinder our ability to offer or continue to offer securities to
investors and cause the value of our Ordinary Shares to significantly decline or become worthless. See &#8220;Risk Factors - Risks
Related to Our Corporate Structure&#8221; beginning on page  37 and &#8220;Risk Factors &#8212; Risks Related to Doing Business in
Hong Kong&#8221; beginning on page 40  of this prospectus for more information.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, Raytech Holding&#8217;s
Ordinary Shares may be prohibited from trading on a national exchange or over-the-counter market under the Holding Foreign Companies Accountable
Act (the &#8220;HFCA Act&#8221;) if the Public Company Accounting Oversight Board (United States) (the &#8220;PCAOB&#8221;) is unable
to inspect Raytech Holding&#8217;s auditors for three consecutive years. Furthermore, on June 22, 2021, the U.S. Senate passed the Accelerating
Holding Foreign Companies Accountable Act (the &#8220;AHFCAA&#8221;), which would amend the HFCA Act and require the SEC to prohibit an
issuer&#8217;s securities from trading on any U.S. stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive
years instead of three consecutive years. Pursuant to the HFCA Act, the PCAOB issued a Determination Report on December 16, 2021 (the
&#8220;Determination Report&#8221;) which found that the PCAOB is unable to inspect or investigate completely registered public accounting
firms headquartered in: (i) mainland China of the PRC, and (ii) Hong Kong; and such report identified the specific registered public accounting
firms which are subject to these determinations. On August 26, 2022, a Statement of Protocol was signed by the PCAOB, the CSRC and the
Ministry of Finance of the PRC governing inspections and investigations of audit firms based in mainland China and Hong Kong (the &#8220;Statement
of Protocol&#8221;). Pursuant to the Statement of Protocol, the PCAOB conducted inspections on select registered public accounting firms
subject to the Determination Report in Hong Kong between September and November 2022. On December 15, 2022, the PCAOB board announced
that it has completed the inspections, determined that it had complete access to inspect or investigate completely registered public accounting
firms headquartered in mainland China and Hong Kong, and voted to vacate the Determination Report. On December 29, 2022, the Consolidated
Appropriations Act, 2023 (the &#8220;CAA&#8221;) was signed into law by President Biden. The CAA contained, among other things, an identical
provision to the AHFCAA, which reduces the number of consecutive non-inspection years required for triggering the prohibitions under the
HFCA Act from three years to two. Raytech Holding&#8217;s auditor, WWC, P.C., is headquartered in San Mateo, California, and has been
inspected by the PCAOB on a regular basis. Raytech Holding&#8217;s auditor is not headquartered in mainland China or Hong Kong and was
not identified in the Determination Report as a firm subject to the PCAOB&#8217;s determinations. Raytech Holding&#8217;s auditor is subject
to laws in the United States pursuant to which the PCAOB conducts regular inspections to assess Raytech Holding&#8217;s auditor&#8217;s
compliance with the applicable professional standards with the last inspection in December 2021. Notwithstanding the foregoing, in the
event that, in the future, the PCAOB determines that it is not able to fully conduct inspections of Raytech Holding&#8217;s auditor for
three consecutive years beginning in 2022, or the PCAOB re-evaluates its determination as a result of any obstruction with the implementation
of the Statement of Protocol in the future, trading of its securities on a national securities exchange or in the over-the counter market
may be prohibited under the HFCA Act and Raytech Holding&#8217;s access to the U.S. capital markets may be limited or restricted.  The delisting of Raytech Holding&#8217;s Ordinary Shares, or the threat of their
being delisted, may materially and adversely affect the value of your investment. See &#8220;<i>Risk Factors &#8212; Risks Related to
Raytech Holding&#8217;s Ordinary Shares and This Offering</i> - <i>Although the audit report included in this prospectus is prepared by
U.S. auditors who are currently inspected by the PCAOB, there is no guarantee that future audit reports will be prepared by auditors inspected
by the PCAOB and, as such, in the future investors may be deprived of the benefits of such inspection. Furthermore, trading in Raytech
Holding&#8217;s securities may be prohibited under the HFCA Act if the SEC subsequently determines Raytech Holding&#8217;s audit work
is performed by auditors that the PCAOB is unable to inspect or investigate completely, and as a result, U.S. national securities exchanges,
such as the Nasdaq, may determine to delist Raytech Holding&#8217;s securities. Furthermore, on June 22, 2021, the U.S. Senate passed
the AHFCAA, which would amend the HFCA Act and require the SEC to prohibit an issuer&#8217;s securities from trading on any U.S. stock
exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three, thus reducing the time period
for triggering the prohibition on trading.&#8221; on page 50 and &#8220;The recent joint statement by the SEC, proposed rule
changes submitted by Nasdaq, and an act passed by the U.S. Senate and the U.S. House of Representatives, all call for additional and more
stringent criteria to be applied to emerging market companies. These developments could add uncertainties to Raytech Holding&#8217;s offering,
share price and our business operations and reputation</i>.&#8221; on page 50 of this prospectus for more information.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Save for a BVI business company meeting the solvency test set out in
section 56 of the BVI Act, Raytech Holding is permitted under the laws of BVI to provide funding to its subsidiary Pure Beauty through
loans or capital contributions without restrictions on the amount of the funds. Save for a BVI business company meeting the solvency test
set out in section 56 of the BVI Act, there are no restrictions or limitation under the laws of BVI on Raytech Holding&#8217;s ability
to distribute earnings from its businesses, including subsidiary, to the U.S. investors. Pure Beauty is permitted under the laws of Hong
Kong to provide funding to Raytech Holding through dividend distribution out of profits available for distribution without restrictions
on the amount of the funds. Raytech Innovation, once operational and profitable, would also be permitted under the laws of Hong Kong to
provide funding to Raytech Holding through dividend distribution out of profits available for distribution. Both Raytech Holding and its
subsidiaries currently intend to retain all available funds and future earnings, if any, for the operation and expansion of our business
and do not anticipate declaring or paying any dividends in the foreseeable future. Neither Raytech Holding nor its subsidiaries have any
dividend payout policy, and each entity needs to comply with applicable law or regulations with respect to transfer of funds, dividends
and distributions with other entities. Any future determination related to Raytech Holding&#8217;s dividend policy will be made at the
discretion of Raytech Holding&#8217;s board of directors after considering our financial condition, results of operations, capital requirements,
contractual requirements, business prospects and other factors the board of directors deems relevant, and subject to the restrictions
contained in any future financing instruments. If Raytech Holding determines to pay dividends on any of its Ordinary Shares in the future,
as a holding company, Raytech Holding will be dependent on receipt of funds from its subsidiaries. Under the current practice of the Inland
Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by Raytech Holding&#8217;s Hong Kong subsidiary,
Pure Beauty. There are no restrictions or limitation under the laws of Hong Kong imposed on the conversion of HKD into foreign currencies
and the remittance of currencies out of Hong Kong. See <i>&#8220;Dividend Policy&#8221; </i>on page 59 and &#8220;<i>Risk Factors &#8211;
Risks Related to Our Corporate Structure &#8211; Raytech Holding may rely on dividends and other distributions on equity paid by its subsidiaries
to fund any cash and financing requirements it may have, and any limitation on the ability of its subsidiaries to make payments to it
could have a material adverse effect on Raytech Holding&#8217;s ability to conduct its business.&#8221; </i>on page 37 of this prospectus
for more information.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is an &#8220;emerging
growth company&#8221; as defined under the federal securities laws and will be subject to reduced public company reporting requirements.
See &#8220;<i>Risk Factors</i>&#8221; and &#8220;<i>Prospectus Summary&#8212; Implications of Raytech Holding&#8217;s Being an Emerging
Growth Company</i>&#8221; on pages 26  and 20, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Neither the Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or determined if this prospectus
is truthful or complete. Any representation to the contrary is a criminal offense.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="padding-bottom: 2pt">&#160;</td><td style="padding-bottom: 2pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Per Share</td><td style="padding-bottom: 2pt; font-weight: bold">&#160;</td><td style="padding-bottom: 2pt; font-weight: bold">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: center; font-weight: bold">Total</td><td style="padding-bottom: 2pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-align: left">Public offering price<sup>(1)</sup></td><td style="width: 1%">&#160;</td>
    <td style="width: 10%; text-align: left">$</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 10%; text-align: left">$</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Placement agent fees<sup>(2)</sup></p></td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Proceeds to Raytech Holding, before expenses<sup>(3)</sup></td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 24px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">We have agreed to pay the placement agent a cash fee commission of seven percent (7.0%) of the gross proceeds raised in this offering, or six percent (6.0%) for company-directed or company-introduced investors, in addition to a one percent (1.0%) non-accountable expense allowance. We have also agreed to reimburse the placement agent for certain of its offering-related expenses, including reimbursement for legal fees and other out-of-pocket fees, costs and expenses in the amount of up to $150,000. For more information about the compensation to be received by the placement agent, see &#8220;<i>Plan of Distribution</i>.&#8221;</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td><td style="text-align: justify">Raytech Holding expects its cash expenses for this offering (including
cash expenses payable to the placement agent for its out-of-pocket expenses) not to exceed $[&#9679;], exclusive of the above fees and
non-accountable expenses allowance. For a detailed description of the compensation to be received by the placement agent, see &#8220;<i>Plan
of Distribution</i>&#8221; beginning on page 124 of this prospectus.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have engaged the placement agent to use its reasonable best efforts
to solicit offers to purchase our securities in this offering. The placement agent has no obligation to purchase any of the ordinary shares
from us or to arrange for the purchase or sale of any specific number or dollar amount of the ordinary shares. Because there is no minimum
offering amount required as a condition to closing in this offering, the actual public offering amount, placement agent&#8217;s fee and
proceeds to us, if any, are not presently determinable and may be substantially less than the total maximum offering amounts set forth
above and throughout this prospectus. We have agreed to pay the placement agent the placement agents fees set forth in the table below.
See &#8220;<i>Plan of Distributio</i>n&#8221; beginning on page 124 of this prospectus for more information.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding may amend
or supplement this prospectus from time to time by filing amendments or supplements as required. You should read this entire prospectus
and any amendments or supplements carefully before you make your investment decision.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Neither the U.S. Securities
and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed on the adequacy
or accuracy of this prospectus. Any representation to the contrary is a criminal offense.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><i>Placement Agent</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; background-color: white"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><i>R. F. Lafferty &amp; Co., Inc.</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img alt="" src="image_004.jpg"/></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: center"><span style="-keep: true">Prospectus dated [&#9679;], 2025</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 6 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="margin: 0pt"></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TABLE OF CONTENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr>
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top; width: 92%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 8%; text-align: center"><b>Page</b></td></tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><a href="#a_001">PROSPECTUS SUMMARY</a></td>
    <td style="vertical-align: bottom; text-align: center">1</td></tr>
  <tr style="background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><a href="#a_002">SUMMARY CONSOLIDATED FINANCIAL AND OPERATING DATA</a></td>
    <td style="vertical-align: bottom; text-align: center">24</td></tr>
  <tr style="background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><a href="#a_003">RISK FACTORS</a></td>
    <td style="vertical-align: bottom; text-align: center">26</td></tr>
  <tr style="background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><a href="#a_004">DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS</a></td>
    <td style="vertical-align: bottom; text-align: center">57</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_005">ENFORCEABILITY OF CIVIL LIABILITY</a></td>
    <td style="vertical-align: bottom; text-align: center">58</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_006">USE OF PROCEEDS</a></td>
    <td style="vertical-align: bottom; text-align: center">59</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_007">DIVIDEND POLICY</a></td>
    <td style="vertical-align: bottom; text-align: center">59</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_008">CAPITALIZATION</a></td>
    <td style="vertical-align: bottom; text-align: center">60</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_009">DILUTION</a></td>
    <td style="vertical-align: bottom; text-align: center">61</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_010">CORPORATE HISTORY AND STRUCTURE</a></td>
    <td style="vertical-align: bottom; text-align: center">62</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_011">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</a></td>
    <td style="vertical-align: bottom; text-align: center">64</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_012">OUR BUSINESS</a></td>
    <td style="vertical-align: bottom; text-align: center">80</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_013">REGULATIONS</a></td>
    <td style="vertical-align: bottom; text-align: center">91</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_014">MANAGEMENT</a></td>
    <td style="vertical-align: bottom; text-align: center">96</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_015">COMPENSATION</a></td>
    <td style="vertical-align: bottom; text-align: center">101</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_016">PRINCIPAL SHAREHOLDERS</a></td>
    <td style="vertical-align: bottom; text-align: center">103</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_017">RELATED PARTY TRANSACTIONS</a></td>
    <td style="vertical-align: bottom; text-align: center">104</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_018">DESCRIPTION OF SHARES</a></td>
    <td style="vertical-align: bottom; text-align: center">106</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_019">SHARES ELIGIBLE FOR FUTURE SALE</a></td>
    <td style="vertical-align: bottom; text-align: center">115</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_020">TAXATION</a></td>
    <td style="vertical-align: bottom; text-align: center">116</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_021">PLAN OF DISTRIBUTION</a></td>
    <td style="vertical-align: bottom; text-align: center">124</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#v_001">EXPENSES RELATING TO THIS OFFERING</a></td>
    <td style="vertical-align: bottom; text-align: center">126</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_022">LEGAL MATTERS</a></td>
    <td style="vertical-align: bottom; text-align: center">126</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_023">EXPERTS</a></td>
    <td style="vertical-align: bottom; text-align: center">126</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_024">INTERESTS OF NAMED EXPERTS AND COUNSEL</a></td>
    <td style="vertical-align: bottom; text-align: center">126</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_025">DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION</a></td>
    <td style="vertical-align: bottom; text-align: center">126</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#a_026">WHERE YOU CAN FIND MORE INFORMATION</a></td>
    <td style="vertical-align: bottom; text-align: center">127</td></tr>
  <tr style="background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; vertical-align: top"><a href="#a_027">INDEX TO FINANCIAL STATEMENTS</a></td>
    <td style="vertical-align: bottom; text-align: center">F-1</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding and the placement agent have not authorized any person
to give you any supplemental information or to make any representations for Raytech Holding. You should not assume that the information
contained in this prospectus or any prospectus supplement are accurate as of any date other than their respective dates, regardless of
the time of delivery of this prospectus or of any sale of the shares. This prospectus is an offer to sell only the Ordinary Shares offered
hereby, but only under circumstances and in jurisdictions where it is lawful to do so. Raytech Holding is not making an offer to sell
these securities in any jurisdiction where the offer or sale is not permitted or where the person making the offer or sale is not qualified
to do so or to any person to whom it is not permitted to make such offer or sale. The information in this prospectus is not complete and
is subject to change. No person should rely on the information contained in this document for any purpose other than participating in
Raytech Holding&#8217;s proposed offering, and only prospectus dated hereof, is authorized by Raytech Holding to be used in connection
with our proposed offering. The preliminary prospectus will only be distributed by Raytech Holding and no other person has been authorized
by Raytech Holding to use this document to offer or sell any of Raytech Holding&#8217;s securities.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>Until [&#9679;] (the 25th
day after the date of this prospectus), all dealers that effect transactions in these securities, whether or not participating in this
offering, may be required to deliver a prospectus. This is in addition to the dealers&#8217; obligation to deliver a prospectus when acting
as placement agent and with respect to their unsold allotments or subscriptions.</b></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: LowerRoman; Name: PageNo -->i<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>COMMONLY USED DEFINED TERMS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Unless otherwise indicated
or the context requires otherwise, references in this prospectus to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;BVI&#8221; are to the &#8220;British Virgin Islands&#8221;;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;BVI Act&#8221; are to the BVI Business Companies Act, Revised Edition 2020 (as amended);</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;China&#8221; or the &#8220;PRC&#8221; are to the People&#8217;s Republic of China;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">the &#8220;Company&#8221; or &#8220;Raytech Holding&#8221; are to Raytech Holding Limited, a BVI business
company;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;mainland China&#8221; are to the mainland of the People&#8217;s Republic of China excluding Taiwan
and the special administrative regions of Hong Kong and Macau for the purposes of this prospectus only;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;Pure Beauty&#8221; are to Pure Beauty Manufacturing Company Limited, a company incorporated under
the laws of Hong Kong on with limited liability on April 15, 2013;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#8220;Raytech
Innovation&#8221; are to Raytech Innovation Limited, a company incorporated under the laws of Hong Kong with limited liability on May
6, 2025;</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;Hong Kong&#8221; are to the Hong Kong Special Administrative Region of the People&#8217;s Republic
of China for the purposes of this prospectus only;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;HKD&#8221; or &#8220;HK Dollar&#8221; are to the legal currency of Hong Kong;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;$,&#8221; &#8220;dollars,&#8221; &#8220;US$&#8221; or &#8220;U.S. dollars&#8221; are to the legal
currency of the United States;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;shares&#8221; or &#8220;Ordinary Shares&#8221; are to the ordinary shares of Raytech Holding Limited,
par value $0.00000625 per share.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;U.S. GAAP&#8221; are to generally accepted accounting principles in the United States; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">&#8220;we&#8221;, or &#8220;us&#8221; in this prospectus are to Raytech Holding Limited, a BVI
                                                                    business company and its subsidiaries, Pure Beauty Manufacturing Company Limited and Raytech Innovation Limited, both companies
                                                                    incorporated under the laws of Hong Kong, unless the context otherwise indicates.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding does not have
any material operations of its own and Raytech Holding is a holding company with operations conducted in Hong Kong through its Hong Kong
subsidiary Pure Beauty, using Hong Kong dollars, the currency of Hong Kong. Raytech Holding&#8217;s reporting currency is Hong Kong dollars.
This prospectus contains translations of certain foreign currency amounts into U.S. dollars for the convenience of the reader.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Translations of amounts in
the unaudited interim condensed consolidated balance sheet, unaudited interim condensed consolidated statements of income and unaudited
interim condensed consolidated statements of cash flows from HKD into US$ as of and for the six months ended September 30, 2024 are solely
for the convenience of the reader and were calculated at the noon buying rate of US$1 = HKD7.7693, as published in H.10 statistical
release of the United States Federal Reserve Board.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Translations of amounts in
the consolidated balance sheet, consolidated statements of income and consolidated statements of cash flows from HKD into US$ as of and
for the year ended March 31, 2023 are solely for the convenience of the reader and were calculated at the noon buying rate of US$1 = HKD7.8499, as published in H.10 statistical release of the United States Federal Reserve Board.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Translations of amounts in
the consolidated balance sheet, consolidated statements of income and consolidated statements of cash flows from HKD into US$ as of and
for the year ended March 31, 2024 are solely for the convenience of the reader and were calculated at the noon buying rate of US$1 = HKD7.8259, as published in H.10 statistical release of the United States Federal Reserve Board.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">No representation is made
that the HKD amounts could have been, or could be, converted, realized or settled into US$ at such rate, or at any other rate.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<a id="a_001"></a><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PROSPECTUS SUMMARY&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The following summary is
qualified in its entirety by, and should be read in conjunction with, the more detailed information and financial statements included
elsewhere in this prospectus. In addition to this summary, Raytech Holding urges you to read the entire prospectus carefully, especially
the risks of investing in Raytech Holding&#8217;s Ordinary Shares, discussed under &#8220;Risk Factors&#8221; before deciding whether
to buy Raytech Holding&#8217;s Ordinary Shares.</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><b>Recent Development</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><i><span style="text-decoration:underline">Change of Independent Registered Public
Accounting Firm</span></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">On
April 9, 2025, the audit committee of our Board of Directors approved the dismissal of WWC, P.C. (&#8220;WWC&#8221;), our former independent
registered public accounting firm, and on the same day, approved the appointment of Assentsure PAC (&#8220;Assentsure&#8221;) as our independent
registered public accounting firm for the fiscal year ended March 31, 2025, effective the same day. Subsequently, on May 15, 2025, our
Board of Directors (the &#8220;Board&#8221;) approved and ratified the dismissal of WWC, the engagement of Assentsure, and the entry into
an engagement letter with Assentsure. As confirmed by WWC in their letter to Assentsure dated March 28, 2025, WWC stated that they were
not aware of any information that would materially bear on the integrity of our management, nor had they any disagreements with our management
regarding accounting principles, auditing procedures, or significant disclosure matters during their engagement. For details, see our
current report on Form 6-K with the SEC on May 21, 2025.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><i><span style="text-decoration:underline">Change of Director and Committee Members</span></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">On
May 19, 2025, Mr. Yiu Wing Hei (&#8220;Mr. Yiu&#8221;) tendered his resignation to the Board from his positions as an Independent Non-executive
Director, a member of the nominating and corporate governance committee, a member of the compensation committee, and the chairperson of
the audit committee of the Company (the &#8220;Resignation&#8221;). On the same day, the Nominating and Corporate Governance Committee
of the Board (which has the authority to identify and recommend nominees for any vacancy on the Board and/or its committees), having considered
the candidacy of Mr. Li Shihua (&#8220;Mr. Li&#8221;), determined that it was advisable and in the best interests of the Company and its
shareholders to recommend to the Board that the Resignation be accepted and that Mr. Li be appointed as the successor to Mr. Yiu&#8217;s
position as a director of the Board and to serve as a member of all committees of the Board and as the Chair of the audit committee. On
May 19, 2025, the Board accepted Mr. Yiu&#8217;s resignation and appointed Mr. Li as an Independent Non-executive Director, a member of
the nominating and corporate governance committee, a member of the compensation committee, and the chairperson of the audit committee
of the Board, effective the same day. Mr. Li also consented to act as a director of the Company on May 19, 2025, effective the same day.
For details, see our current report on Form 6-K with the SEC on May 19, 2025, and Management on page 96 of this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Business Overview</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Leveraging our expertise in
the personal care electrical appliance industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through
Pure Beauty, we principally engage in the sourcing and wholesaling of personal care electrical appliances for international brand owners.
We also provide product design and development collaboration as a value-added service for our customers. Our customers are brand owners
of personal care electrical appliances who market and sell their personal care electrical appliances products to end consumers. Commencing
our operation in 2013, we have accumulated over 10 years of experience in the industry.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Our Products</span></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Over years of operation, we
have sourced and wholesaled a wide range of personal care electrical appliances, which can be broadly classified into six major categories:
(i) hair styling series, including hair dryer, hair straightener and curling iron; (ii) trimmer series, including facial shaver, nose
trimmer and eyebrow trimmer; (iii) eyelash curler; (iv) nail care series; (v) tooling; and (vi) other personal care appliance series,
including body and facial brush, reset brush, callus remover, sonic peeling, handy fan and others. In particular, we are specialized in
sourcing and wholesaling hair dryers within our hair styling series which primarily include salon-type hair protection and styling functions
or compact design for travel. See &#8220;<i>Business &#8211; Business Overview &#8211; Product Sourcing and Wholesaling</i>&#8221; on
page  81 of this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Hair styling series</i>:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our sales of hair styling
series constituted 62% and 48% of our total revenue for the years ended March 31, 2023 and 2024, respectively. Approximately 44% and 37%
of our sale of hair styling series for the years ended March 31, 2023 and 2024, respectively, was derived from the sale of hair dryers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our sales of hair styling
series constituted 61% and 44% of our total revenue for the six months ended September 30, 2023 and 2024, respectively. Approximately
39% and 28% of our sales of hair styling series for six months ended September 30, 2023 and 2024, respectively, was derived from the sale
of hair dryers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>



</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Major features of the salon-styled
hair dryers that we have designed include:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 30%">Negative ion technology</td>
    <td style="text-align: justify; width: 70%">Help eliminate frizzy hair</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>Scirocco fan</td>
    <td>Allows to thoroughly dry hair from the roots</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>Removable filter</td>
    <td style="text-align: justify">Washable for easy daily cleaning and detachable for preventing dust and hair from blocking the blades </td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>Compact size and lightweight</td>
    <td>Handy for travel and home use</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Our sales of hair straighteners represented
36% and 43% of our sale of hair styling series for the years ended March 31, 2023 and 2024, respectively, and 61% and 44% of our sale
of hair styling series for the six months ended September 30, 2023 and 2024, respectively. We have focused on designing hair straighteners
in compact size with quick USB charging for travel and home use.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Trimmer series: </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Designed with compact size and equipped
with 2-way head and face shaver and nose hair trimmer on each side, washable components, the 2-in-1 face shaver and nose trimmer sets
are more popular than the face shaver and nose trimmer as two separate products.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the years ended March
31, 2023 and 2024, 19% and 34% of our revenue related to the sale of the trimmer series. Approximately 32% and 15% of our trimmer series
sold in the years ended March 31, 2023 and 2024, respectively, were 2-in-1 face shaver and nose trimmer sets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2023 and 2024, 14% and 48% of our revenue related to the sale of the trimmer series. Approximately 53% and 16% of our trimmer series
sold in the six months ended September 30, 2023 and 2024, respectively, were 2-in-1 face shaver and nose trimmer sets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Eyelash curler series:</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The eyelash curler is designed
with a 2-way comb, either to increase the eyelash volume or to enhance panoramic appearance. The professionally-designed curved comb brush
head fits the curve of upper and lower eyelashes to create natural curls. We generated approximately 3% and 1% of our revenue from this
series for the years ended March 31, 2023 and 2024, respectively, and approximately 1% and 0.5% of our revenue from this series for the
six months ended September 30, 2023 and 2024, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Nail care series: </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our nail care series consists
of an electrical nail polisher. This series contributed 3% and 2%, respectively, to our total revenue for the years ended March 31, 2023
and 2024, and 2% and 2%, respectively, to our total revenue for the six months ended September 30, 2023 and 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Other personal care appliance series: </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our other personal care appliance
series comprises of a reset brush, a callus remover, a body and facial brush, sonic peeling device, a handy fan and others.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">We generated approximately 7% and 5% of
our total revenue from this series for the years ended March 31, 2023 and 2024, respectively, and approximately 2% of our total revenue
from this series for each of the six months ended September 30, 2023 and 2024, respectively. The reset brush represented 55% and 65% of
the sales of our other personal care appliance series for the years ended March 31, 2023 and 2024, respectively, and 41% and 53% of the
sale of our other personal care appliance series for the six months ended September 30, 2023 and 2024, respectively.&#160;</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Product Sourcing and Wholesaling </i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">We are experienced in design and development
in the personal care electrical appliance industry. Our research and development team consists of 2 full-time employees each at least
16 years of industry experience in electrical appliances engineering and supply chain management. We serve our customers through sourcing
or arranging the production process of personal care electrical appliance products with the manufacturers. Besides, leveraging our strong
design and development capabilities and our experience in anticipating consumer preference, we are able to provide technical recommendations
and solutions to or assist our customers in the design and development of the personal care electrical appliance products that meet the
needs of our customers. Riding on our extensive experience and product development capability, we continue to expand and strengthen our
market position.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

</div><div>

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</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Our product sourcing service is summarized
as follows: our sales and marketing team first receives an order from a customer who requests our expertise to examine and advise on the
design and manufacturing feasibility of a product sample or design prototype of a product prepared by the customer. We forward the sample
or design prototype to a manufacturer who performs a feasibility assessment of the design, specification, materials required, type of
engineering and required technology and packaging of the product sample or design prototype provided by the customer. As an auxiliary
service, we may suggest modifications to the design, specification, materials to be used, technology and packaging to the customer, or,
as requested by our customer, may jointly design and develop the products with our customer in accordance with the requirement, standard
and narrative of our customer. Upon the completion of the assessment and receipt of acceptance of the modifications from the customer,
our marketing and operation team provides a price quotation to the customer. Once the quotation is accepted by the customer, we forward
the finalized design, specification and customer&#8217;s requests to the manufacturer and arrange a manufacturing schedule for producing
a sample at the manufacturer&#8217;s facility. The manufacturer performs an initial evaluation and quality testing on the sample of the
finished product. We then provide the tested sample of the finished product to our customer. Upon the acceptance of the sample of the
finished product by the customer&#8217;s quality control team, we will arrange a manufacturing schedule with the manufacturer for a mass
production. After the mass production is completed, our shipping team confirms the shipping destination with our customer, arranges the
shipping documents and forwards the instructions to the manufacturer who fulfills the shipment of the finished product to the customer&#8217;s
destination as instructed. Currently, we are not involved in any pending or threatened claims of intellectual property infringement.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We bear the costs and risks
of forwarding the sample or design prototype to a manufacturer, providing suggestions for modifications of product design, sending the
tested sample of the finished product to our customer and shipping delay that is otherwise caused by other parties rather than the manufacturer.
In the event of manufacturing defaults such as refining the product samples, manufacturing failure or delay, or delay of shipping caused
by the manufacturing facility, our collaborating manufacturer bears the relative costs and risks.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We sell our personal care
electrical appliances products at wholesale to our customers. As the design, prototype, specification of the personal care electrical
appliances and the respective packaging, are developed under the narratives, requirements and standards of our customers, the patents
of such design and product prototype are owned by our customers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Our Customers</span></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Our customers are brand owners of personal
care electrical appliances including, (i) Koizumi Seiki Corp., one of the top 10 sellers in terms of retail volume in the personal care
electrical appliance market in Japan as stated in &#8220;Personal Care Appliances in Japan&#8221; by Euromonitor International in December
2023; (ii) another customer, a U.S. home appliance manufacturer. For the years ended March 31, 2023 and 2024, we generated 91.3% and 74.1%
of our total revenue, respectively, from Koizumi Seiki Corp. For the six months ended September 30, 2023, we generated 81% and 17% of
our total revenue from Koizumi Seiki Corp. and another customer, who is a global distributor of various consumer products, respectively.
For the six months ended September 30, 2024, we generated 57.8% and 33.7% of our total revenue from Koizumi Seiki Corp. and another customer,
respectively. We maintain long term business relationships with our customers. Leveraging our experience and expertise in the personal
care electrical appliances industry, we believe we are well positioned to maintain our relationships with our current customers, and explore
our market share in the U.S., Europe and Asia in the near future. See &#8220;<i>Expansion of Market</i>&#8221; on page 7 of this prospectus.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Collaborating Manufacturers</span></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have forged long-term relationships
with manufacturers specialized in producing personal care electrical appliances for international brand owners who market their personal
care electrical appliances globally. When selecting and evaluating manufacturers, we consider a number of business factors such as cost,
quality and on-time delivery. Our collaborating manufacturers implemented applicable systems which meets the international or local standards
requiring high levels of quality and safety requirements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our major collaborating manufacturers include: (i) Zhongshan Raytech
Electrical Appliances Manufacturing Co. Ltd. (&#8220;Zhongshan Raytech&#8221;), a mainland China-based corporation controlled by our founder,
Chairman and CEO, Mr. Ching Tim Hoi, and (ii) Zhongshan Leimi Electrical Appliances Company Limited (&#8220;Zhongshan Leimi&#8221;), a
mainland China-based corporation. For the year ended March 31, 2024, payments to Zhongshan Raytech accounted for 88.5% of the total manufacturing
costs of the Company. For the year ended March 31, 2023, payments to each of Zhongshan Raytech and Zhongshan Leimi accounted for 83.1%
and 10.4%, respectively, of the total manufacturing costs of the Company. For the six months ended September 30, 2023, payments to Zhongshan
Raytech accounted for 92.7% of the total manufacturing costs of the Company. For the six months ended September 30, 2024, payments to
Zhongshan Raytech accounted for 91.5% of the total manufacturing costs of the Company. The factories operated by our major collaborating
manufacturers are located in Zhongshan, Guangdong Province, PRC. The manufacturers have run a well-established supply chain process particularly
the procurement of materials and components and manufacturer selection.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Zhongshan Raytech obtained
certifications for its quality management system, environmental management system and occupational safety system under the standards of
China Quality Certification Center (&#8220;CQC&#8221;), which is based in Beijing, PRC and is under control of the China Certification
&amp; Inspection Group, which is approved by the State General Administration for Quality Supervision and Inspection and Quarantine and
the Certification and Accreditation Administration of the mainland China of the PRC. CQC is a member of IQNet Association, an international
certification entity in Switzerland formed by more than 30 certification entities in major countries and those members implemented domestic
standards which mirror equivalent standards established by International Organization for Standardization (&#8220;ISO&#8221;). See &#8220;<i>Business
&#8211; Business Overview &#8211; Collaborating Manufacturers</i>&#8221; on page  83 of this prospectus.</p>

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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Market and Industry Overview</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">As discussed in &#8220;Personal Care Electrical
Appliances Market Size 2023-28 Market Research Report&#8221; by a marketing research firm IMARC Group and in &#8220;Personal Care Appliances
Global Market Report 2023 &#8211; By Product (Hair Care, Hair Removal, Oral Care, Other Products), By Distribution Channel (Online, Offline),
By End-User (Female, Male) &#8211; Market Size, Trends, And Global Forecast 2023-2032 published by The Business Research Company, personal
care electrical appliances are grooming products which primarily consist of hair care appliances (e.g. hair dryer, hair straightener,
hair clippers, curling irons, hair settler, and others), hair removal appliances (e.g. trimmer, power shaver and epilator), oral care
appliances such as powered tooth brush and oral irrigator, and other personal care appliances such as electrical facial brush, electrical
facial cleanser, electrical eyebrow trimmer, battery-operated nail polisher. IMARC Group analyzed that the series of hair care appliances
plays a major role in the total global market share of personal care appliances currently.</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Global Overview</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">The market size of the global personal
care electrical appliances market is expected to expand to US$22.75 billion in 2024 from US$21.27 billion in 2023 based on &#8220;Personal
Care Appliances Global Market Report 2024 &#8211; By Product (Hair Care, Hair Removal, Oral Care, Other Products), By Distribution Channel
(Online, Offline), By End-User (Female, Male) &#8211; Market Size, Trends, And Global Forecast 2024-2033&#8221; published by The Business
Research Company.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In its &#8220;Personal Care
Electrical Appliances Market Size 2023-28 Market Research Report,&#8221; IMARC Group stated that the market size of the global personal
care electrical appliances was about US$21.6 billion in 2022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to &#8220;Personal
Care Appliances Global Market Report 2024 &#8211; By Product (Hair Care, Hair Removal, Oral Care, Other Products), By Distribution Channel
(Online, Offline), By End-User (Female, Male) &#8211; Market Size, Trends, And Global Forecast 2024-2033&#8221; issued by The Business
Research Company, the major sellers in the global personal care appliances sector include: Conair Corporation, Dyson Ltd, Helen of Troy
Limited, Colgate-Palmolive Company, Koninklijke Philips N.V., The Procter &amp; Gamble Company, The Wahl Clipper Corporation, Vega Industries
Pvt Ltd, Panasonic Corporation, Samsung Electronics Co., Ltd., LG Corporation, and Braun GmbH.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The majority of our customers
are international brand owners who predominantly market their personal care electrical appliances in Japan.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A study of personal care
appliances in Japan performed by Euromonitor International in December 2023 (&#8220;the study&#8221;, or &#8220;the research&#8221;)
found that while total retail sales volume flattened by 0.3% in 2023, from 30.7 million in 2022 to 30.8 million in 2023, the overall
total sales value of personal care electrical appliances in Japan increased by 10.8% in 2023, from Japanese Yen 277.6 billion in 2022
to Japanese Yen 307.6 billion in 2023 primarily due to a growth in the average unit price and upgrades in product functions, particularly
in hair care electrical appliance, in 2023. The study forecasted that retail volume sales are expected to rise to 32 million in 2024.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Statistics calculated by Euromonitor
International identified that Panasonic Corp is the major seller which represented 44.8% of the market share in the personal care electrical
appliance industry in Japan in 2023. Koizumi Seiki Corp., Tescom Co. Ltd., Procter &amp; Gamble Far East Inc., Philips Electronics Japan
Ltd. and Hitachi Appliances Inc represented 7.6%, 7.6%, 5.9%, 3.6% and 3.3%, respectively, of the total market share in Japanese personal
care electrical appliance industry.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Further, the research determined
that the development of the personal care appliances includes three aspects:</p>

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<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">brand premiumization and inflation</td></tr></table>

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<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">dominance of hair care appliances</td></tr></table>

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<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">innovation in body shavers</td>
</tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Euromonitor analyzed that
although retail sales volume of personal care appliances in Japan remained steady in 2023, the sales dollar amount grew by 10.8% in 2023.
Rise in unit price and product upgrades are the key factors. Personal care electrical appliance sellers continued to invest in offering
high quality, authentic designs and additional value-added and unique product functions in order to justify higher unit prices.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Hair care appliances still
represent a major category in personal care electrical appliances in Japan. Many new personal care appliance sellers such as Dyson, Yaman,
Refa, I-ne entered the market of hair care appliances in 2016, 2021, 2019 and 2011, respectively. Traditional well-known brands such as
Panasonic, Sharp and Tescom continued to elevate the quality and functions of their hair care appliances products with Panasonic retaining
its strong presence in this category. The study mentioned that consumers are willing to pay for the higher price for the quality experience.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The study highlighted that
the new design in body shavers by Panasonic and Yaman is expected to perform well. The new design integrated with skin care features and
the slim size accommodated the needs for business travel and easier storage and portability.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Future Development</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In its &#8220;Personal Care
Electrical Appliances Market Size 2023-28 Market Research Report,&#8221; IMARC Group predicted that the global personal care electrical
appliances market size could reach US$30.2 billion by 2028 which represents a growth rate (CAGR) of 5.5% during 2023-2028.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;Personal Care Appliances
Global Market Report 2024 &#8211; By Product (Hair Care, Hair Removal, Oral Care, Other Products), By Distribution Channel (Online, Offline),
By End-User (Female, Male) &#8211; Market Size, Trends, And Global Forecast 2024-2033&#8221; published by The Business Research Company
anticipated that the global market value for personal care appliances is estimated to grow to US$29.68 billion by 2028, proliferating
at a compound annual growth rate (CAGR) of 6.9%. It analyzed that Asia Pacific is anticipated to be the fastest growing market during
the forecast period.</p>

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<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Allied Market Research evaluated that
the expansion in the global personal care electrical appliances market from 2022 through 2031 is driven by an improvement in economic
environment, an uprising in aging population and a surge in disposable income. Moreover, social media also plays an instrumental role
in society, and businesses utilized social media as a conduit to promote and market their brands and products. The research indicated
that e-commerce channel segment is expected to record the highest CAGR of 7.4% among various distribution channels of this market during
2022 through 2031 owing to the increased association of internet and e-shopping habit of the consumers. In addition, through the advertisements
and promotions of brands or products by celebrities or notable individuals, these brands and products tend to increase consumers&#8217;
awareness, trust and comfort. These sales channels help fuel the market and create bigger opportunities for personal care electrical appliances
market. Allied Market Research also stated that the use of social media, a rise in disposable income, rapid urbanization and an increase
in youth population in Asia-pacific regions trigger the demand for personal care appliances which would exhibit the highest CAGR of 8.4%
during 2022 through 2031.&#160;</p>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, according to
the analysis of Research and Markets on Personal Care Appliances Global Market Report 2024, global personal care appliances market exhibited
a growth from US$21.27 billion in 2023 to US$22.75 billion in 2024 at CAGR of 7.0%. It added that the personal care appliances market
size is expected to proliferate to US$29.68 billion in 2028 at CAGR of 6.9%. Major drivers include continued popularity of personal care
appliances, an increase in consciousness of personal health, personal appearance and personal hygiene, growing aging population and surge
in online purchases.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Key Market Drivers and Opportunities</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Below is a list of major factors
that we believe are key market drivers and opportunities for the industry:</p>

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<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">rise in disposable incomes and expansion of organized retail sector;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">advertising and promotions through social media and celebrities;</td></tr></table>

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<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">rapid technological advances and energy efficiency innovations that offering budget-friendly styling and
personal care electrical appliance products, and advanced products with convenience and ease-of-use; and</td></tr></table>

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<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">change of lifestyle pattern and fashion trends that drive customers to splurge on styling and aesthetically
appealing self-grooming devices for personal care and hygiene.</td></tr></table>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Key Market Restraints</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe the following are
major factors that restraint the development of the industry in the near future:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">increasing amount of plastic waste due to disposal of electrical appliances acts as a restraint on the
development of these products; and</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">emerging markets are expected to continue to grow slightly slower than the developed markets in the forecast
period due to lower priority in personal care and hygiene compared with the developed markets.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

</div><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: left; text-indent: 0.5in"><b>Competitive Strengths</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">We possess certain attributes that differentiate
us as a personal care electronic appliance provider operating in Hong Kong. Our key competitive strengths include:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>


<table cellpadding="0" style="font-size: 10pt; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 48px; font: 10pt Times New Roman,serif">&#160;</td>
    <td style="width: 24px; font: 10pt Times New Roman,serif"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">we have a strong presence in the personal care electrical appliances industry with an 11-year operating history and emphasis on hair styling products;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">we have a quality control system, which allows us to deliver high quality products and maintain market
reputation; and</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font-size: 10pt; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 48px; font: 10pt Times New Roman,serif">&#160;</td>
    <td style="width: 24px; font: 10pt Times New Roman,serif"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="font: 10pt Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">we have an experienced management team with a strong commitment to deliver high quality products.&#160;</span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that the vision,
experience, market-awareness, in-depth knowledge in the personal care and lifestyle electrical appliances industry of our management team
have been pivotal to the success of our business and our ability to continue to explore new business opportunities and strengthen our
position in the market. See &#8220;<i>Business &#8211; Competitive Strengths</i>&#8221; on page 87 of this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Growth Strategy</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Our goal is to become a leading product
design and development company in personal care and lifestyle electrical appliances industry in Asia. To achieve this goal, we intend
to:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">explore new product lines;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">continue to expand our men&#8217;s personal care and hair care and styling product lines, such as shavers
and electric hair brush;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">broaden sales through providing technical expertise to the potential and new customers in personal care
electrical appliance market; and</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">approach customers who sell and market their personal care electrical appliances in Europe, the US and
other Asia markets;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Expansion of Market</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We seek to expand our customer
base, geographic presence and improve our local connection with them. We intend to expand our business from Hong Kong to the U.S., Europe
and other Asia markets. We have currently only conducted limited market studies of these other markets, but have not started any marketing
or sales initiatives for these markets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">We plan to increase our investments in
sales and marketing function, within the U.S., Europe and Asia markets in particular, to cope with our business expansion plan, our Company&#8217;s
sales and marketing activities mainly included handling purchase orders received from our customers, coordinating with our manufacturers
which have their production teams for execution of purchase orders, communicating with our customers on their requests and feedbacks exploring
with them the potential business opportunities. We believe that one of our keys to success is to achieve customer satisfaction by, among
others, demonstrating to our customers that their purchase orders are closely monitored and their requests and feedbacks are timely handled
through our delegated sales and marketing team. This helps us to retain our customers and gain more orders from them. Our management has
identified the needs to allocate resources to actively promote our aforesaid strengths with a view to attracting potential customers to
approach us for our products and services. Upon the completion of this offering, we plan to allocate approximately 20% of the gross proceeds
in promoting our brand, services and products, including a portion to be spent on feasibility studies about the potential markets in the
U.S., Europe and other Asia markets. See &#8220;<i>Use of Proceeds</i>&#8221; on page 59 of this prospectus.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Recruit, Retain and Develop Employees </b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will continue hiring highly
qualified and experienced staff in the field. In order to expand and grow our business, we must continuously recruit and attract talented
employees not only in the sales and marketing side for acquiring new customers, but also the operational staff to manage the interface
with the production and manufacturing side. We believe that Raytech Holding being a publicly-traded company will attract more talented
people to join us. With the continuous growth of our business and the market expansion plan, Raytech Holding intends to allocate 30%
of the proceeds of the offering for recruiting additional experienced staff, including administrative, executive and accounting personnel,
marketing and sales as well as designers with solid industry backgrounds that can support the expansion of business, and necessary R&amp;D
personnel to support development of new product lines (including oral care and men&#8217;s personal care product lines). See &#8220;<i>Use
of Proceeds</i>&#8221; on page 59 of this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Competition</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The personal care electrical appliance market is relatively fragmented,
subject to macro-economic cycles and the entry of new competitors. We are directly competing with other design and development companies
in the industry as well as with manufacturers who are located in South Asia.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The majority of our revenue was derived from sales to the Japanese
consumer market. We anticipate that customer demand for our Company&#8217;s personal care electrical appliances going forward will be
primarily affected by the demand and performance in Japan. However, our targeted customer markets are expected to maintain stable growth.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We mainly compete on product quality and research and development capabilities.
We believe that we can compete effectively by virtue of our well-established relationships with our customers which are international
brand owners, strong presence in the personal care electrical appliances industry, strong and established product design and development
capabilities, quality assurance system and our experienced and dedicated management team.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Intellectual Property</b>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently do not own any trademarks, copyrights, patents, domain
names, know-how, proprietary technologies, and similar intellectual property. Regardless of the type of our services, as the design, prototype,
specification of the personal care electrical appliances and the respective packaging, are developed under the narratives, requirements
and standards of our customers, the patents of such designs and product prototypes are owned by our customers.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As at the date of this prospectus,
Pure Beauty has been using certain trademarks on its daily business operations which are currently registered in Japan and owned by Mr.
Ching (the &#8220;Japan Pure Beauty Trademarks&#8221;). On August 1, 2021, a trademark license agreement was entered into between Raytech
Holding and Mr. Ching (the &#8220;Japan Trademark License Agreement&#8221;), pursuant to which Mr. Ching agreed to irrevocably and unconditionally
grant Raytech Holding, its subsidiaries and branches an exclusive license to use the Japan Pure Beauty Trademarks on a royalty-free basis,
for 10 years commencing from the date of the Japan Trademark License Agreement. See &#8220;<i>Risk Factors &#8211; Risks Related to Our
Business &#8211; We may be subject to intellectual property infringement claims, which may be expensive to defend and may disrupt our
business and operations</i>&#8221; on page 31 of this prospectus for more information.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Patent</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not retain the patent
of the finished products we sourced to manufacturers and designed or developed with our customers. Such patents belong to our customers
who hired us for the design and development of such products.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Domain</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pure Beauty Manufacturing
Company Limited registered the domain name of &#8220;www.raytech.com.hk.&#8221;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Summary of Risk Factors</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Investing in Raytech
Holding&#8217;s Ordinary Shares involves significant risks. You should carefully consider all of the information in this prospectus
before making an investment in Raytech Holding&#8217;s Ordinary Shares. Below please find a summary of the principal risks we face,
organized under relevant headings. These risks are discussed in more detail in the section titled &#8220;<i>Risk Factors</i>&#8221;
beginning on page 26 of this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Risks Related to Our Business</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">Risks and uncertainties related to our business
and industry include, but are not limited to, the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Changes in capital markets, merger and acquisition activity, legal or regulatory requirements, general
economic conditions and monetary or geopolitical disruptions, as well as other factors beyond our control, could reduce demand for our products, in which case our revenues and profitability could decline. See more detailed discussion of this risk
factor on page 26 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Our revenues, operating income and cash flows are likely to fluctuate. See more detailed discussion of
this risk factor on page 26 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We have a substantial customer concentration, with a limited number of customers accounting for a substantial
portion of our revenues. See more detailed discussion of this risk factor on page 27  of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We rely on a limited number of manufacturers, some of which we are affiliated with. A loss of any of these manufacturers could significantly
negatively affect our business. See more detailed discussion of this risk factor on page 27 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font: normal 10pt Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt"> Our major manufacturers are located in mainland China which could
                                                                                                                                         adversely affect our business, financial condition and results of operations. See more detailed discussion of this risk factor on
                                                                                                                                         page 28 of this prospectus.</span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Inadequate or inaccurate external and internal information, including budget and planning data, could
lead to inaccurate financial forecasts and inappropriate financial decisions. See more detailed discussion of this risk factor on page
29 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We may not manage our growth effectively, and our profitability may suffer. See more detailed discussion
of this risk factor on page 29 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Our reputation is crucial to our business. Any harm to our reputation or failure to enhance our brand
recognition may materially and adversely affect our business, financial condition and results of operations. See more detailed discussion
of this risk factor on page 30 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We may not be able to continue to grow at our historical rate of growth, and if we fail to manage
                                                                    our growth effectively, our business may be materially and adversely affected. See more detailed discussion of this risk factor on
                                                                    page 30 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">If we fail to prevent security breaches, improper access to or disclosure of our data or user data, or
other hacking and attacks, we may lose users, and our business, reputation, financial condition and results of operations may be materially
and adversely affected. See more detailed discussion of this risk factor on page 30 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We cannot assure you that we could retain effective intellectual property rights. See more detailed discussion
of this risk factor on page 30 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We may be subject to intellectual property infringement claims, which may be expensive to defend and
                                                                    may disrupt our business and operations. See more detailed discussion of this risk factor on page 31 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->9<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Compromise of confidential or proprietary information could damage our reputation, harm our
                                                                    businesses and adversely impact our financial results. See more detailed discussion of this risk factor on page 31 of this
                                                                    prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Increases in labor costs in Hong Kong may adversely affect our business and results of operations. See
more detailed discussion of this risk factor on page 32 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding&#8217;s principal shareholders have substantial influence over Raytech Holding and their
interests may not be aligned with the interests of Raytech Holding&#8217;s other shareholders. See more detailed discussion of this risk
factor on page 32 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We face risks related to natural disasters, health epidemics and other outbreaks, which could significantly
disrupt our operations. See more detailed discussion of this risk factor on page 32 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Failure to comply with laws and regulations applicable to our business could subject us to fines and
                                                                    penalties and could also cause us to lose customers or otherwise harm our business. See more detailed discussion of this risk factor
                                                                    on page 33 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Members of our management team may in the future be involved in governmental investigations and civil
litigations relating to the business affairs of companies with which they are, were or may in the future be affiliated with. See more detailed
discussion of this risk factor on page 33 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">If Raytech Holding becomes directly subject to the recent scrutiny, criticism and negative publicity
                                                                    involving U.S.-listed Chinese companies, Raytech Holding may have to expend significant resources to investigate and resolve the
                                                                    matter which could harm our business operations, stock price and reputation and could result in a loss of your investment in Raytech
                                                                    Holding&#8217;s stock, especially if such matter cannot be addressed and resolved favorably. See more detailed discussion of this
                                                                    risk factor on page 34 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">If we fail to compete effectively, we may miss new business opportunities or lose existing
                                                                    customers, and our revenues and profitability may decline. See more detailed discussion of this risk factor on page 34 of this
                                                                    prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">If we are unable to rely on the services and connections of our key personnel, or retain the current
                                                                    key personnel, our business could be adversely affected. See more detailed discussion of this risk factor on page 34 of this
                                                                    prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Certain of our officers or directors may have actual or potential conflicts of interest because of
                                                                    their equity interests in or positions with Raytech Holdings Company Limited and Zhongshan Raytech. See more detailed discussion of
                                                                    this risk factor on page 34 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Our employees may leave to form or join competitors, and we may not have, or may choose not to
                                                                    pursue, legal recourse against such professionals. See more detailed discussion of this risk factor on page 35 of this
                                                                    prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Our business and sales are subject to the business strategies of the brand owners. See more detailed discussion
of this risk factor on page 35 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->10<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We cannot assure that our products can meet consumer preferences and needs, and will continue to
                                                                    gain market acceptance and secure market share. See more detailed discussion of this risk factor on page 35 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We rely on external manufacturers for production of all of our products. See more detailed discussion
of this risk factor on page 36 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Our operating results may fluctuate due to seasonality and other factors. See more detailed discussion
of this risk factor on page 36 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We may be unable to maintain rapid growth and implement our future plans. See more detailed discussion
of this risk factor on page 36 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">A severe or prolonged downturn in the Chinese or global economy could materially and adversely
                                                                    affect our business and financial condition. See more detailed discussion of this risk factor on page 37 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Changes in U.S. and international trade policies, particularly with regard to China, may adversely
                                                                    impact our business and operating results. See more detailed discussion of this risk factor on page 37 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="font-size: 10pt; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 48px; font: 10pt Times New Roman,serif">&#160;</td>
    <td style="width: 24px; font: 10pt Times New Roman,serif"><span style="font-size: 10pt">&#9679;</span></td>
    <td>
    <p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">Our results of operations may be adversely affected by
significant share-based compensation expenses, and the issuance of shares under our equity incentive plans will dilute existing shareholders.
See more detailed discussion of this risk factor on page 37 of this prospectus.</p></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Risks Related to Our Corporate Structure</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are also subject to risks
and uncertainties related to our corporate structure, including, but not limited to, the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><p style="text-align: justify; margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">Raytech Holding may rely on dividends and other distributions on equity
paid by its subsidiaries to fund any cash and financing requirements it may have, and any limitation on the ability of Raytech Holding&#8217;s
subsidiary to make payments to it could have a material adverse effect on Raytech Holding&#8217;s ability to conduct its business. See
more detailed discussion of this risk factor on page 37 of this prospectus.</p></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding&#8217;s lack of effective internal controls over financial reporting may affect its ability
to accurately report its financial results or prevent fraud, which may affect the market for and price of Raytech Holding&#8217;s Ordinary
Shares. See more detailed discussion of this risk factor on page 38 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">If Raytech Holding ceases to qualify as a foreign private issuer, it would be required to comply fully
with the reporting requirements of the Exchange Act applicable to U.S. domestic issuers, and it would incur significant additional legal,
accounting and other expenses that it would not incur as a foreign private issuer. See more detailed discussion of this risk factor on
page 39 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding is an &#8220;emerging growth company&#8221; within the meaning of the Securities Act,
and if Raytech Holding takes advantage of certain exemptions from disclosure requirements available to emerging growth companies, this
could make it more difficult to compare Raytech Holding&#8217;s performance with other public companies. See more detailed discussion
of this risk factor on page 39 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding incurs increased costs as a result of being a public company which will increase after
Raytech Holding ceases to qualify as an &#8220;emerging growth company.&#8221; See more detailed discussion of this risk factor on page
39 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding&#8217;s board of directors may decline to register transfers of Ordinary Shares in certain
circumstances. See more detailed discussion of this risk factor on page 40 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->11<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt -0.5in; text-align: left; text-indent: 0.5in"><b><i>Risks Related to Doing
Business in Hong Kong</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Substantially all of our
operations are in Hong Kong; therefore, we face risks and uncertainties relating to doing business in Hong Kong in general, including,
but not limited to, the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">All of Pure Beauty&#8217;s operations are in Hong Kong. However, due to the long arm provisions under
the current laws and regulations of mainland China, the government of mainland China may exercise significant oversight and discretion
over the conduct of our business and may intervene in or influence our operations at any time, which could result in a material change
in our operations and/or the value of Raytech Holding&#8217;s Ordinary Shares. The government of mainland China may also intervene or
impose restrictions on our ability to move money out of Hong Kong to distribute earnings and pay dividends or to reinvest in our business
outside of Hong Kong. Changes in the policies, regulations, rules, and the enforcement of laws of the government of mainland China may
also be quick with little advance notice and our assertions and beliefs of the risk imposed by the legal and regulatory system of mainland
China cannot be certain. See more detailed discussion of this risk factor on page 40 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">The enactment of Law of the PRC on Safeguarding National Security in
the Hong Kong Special Administrative Region (the &#8220;Hong Kong National Security Law&#8221;) could impact Raytech Holding&#8217;s subsidiaries.
See more detailed discussion of this risk factor on page 42 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">There are political risks associated with conducting business in Hong Kong. See more detailed discussion
of this risk factor on page 43 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">There remain some uncertainties as to whether we will be required to obtain approvals from mainland China and Hong Kong authorities to list additional Raytech Holding&#8217;s securities on the U.S. exchanges
                                                                    and offer securities in the future, and if required, we cannot assure you that we will be able to obtain such approval. See more
                                                                    detailed discussion of this risk factor on page 44 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Rules for cross-border provision and examination of auditing records and other materials in connection
with overseas securities issuance and listing was released by CSRC and became effective The government of mainland China may impose more
stringent requirement for domestic Chinese companies to share business and accounting records with foreign auditing firms and other securities
service institutions, which could significantly limit or completely hinder Raytech Holding&#8217;s ability to offer or continue to offer
its Ordinary Shares to investors and could cause the value of Raytech Holding&#8217;s Ordinary Shares to significantly decline or become
worthless. See more detailed discussion of this risk factor on page 47 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">It may be difficult for overseas shareholders and/or regulators to conduct investigation or collect evidence
within mainland China. See more detailed discussion of this risk factor on page 49 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">You may incur additional costs and procedural obstacles in effecting service of legal process, enforcing
foreign judgments or bringing actions in Hong Kong against Raytech Holding or its management named in the prospectus based on Hong Kong
laws. See more detailed discussion of this risk factor on page 49 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">We may be affected by the currency peg system in Hong Kong. See more detailed discussion of this risk
factor on page 50 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Risks Related to Raytech Holding&#8217;s Ordinary Shares and
This Offering</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the risks described
above, we are subject to general risks and uncertainties relating to Raytech Holding&#8217;s Ordinary Shares and this offering, including,
but not limited to, the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Although the audit report included in this prospectus is prepared by U.S. auditors who are subject to
PCAOB inspections on a regular basis, there is no guarantee that future audit reports will be prepared by auditors inspected by the PCAOB
and, as such, in the future investors may be deprived of the benefits of such inspection. Furthermore, trading in Raytech Holding&#8217;s
securities may be prohibited under the HFCA Act if the SEC subsequently determines Raytech Holding&#8217;s audit work is performed by
auditors that the PCAOB is unable to inspect or investigate completely, and as a result, U.S. national securities exchanges, such as the
Nasdaq, may determine to delist Raytech Holding&#8217;s securities. Furthermore, on June 22, 2021, the U.S. Senate passed the AHFCAA,
which would amend the HFCA Act and require the SEC to prohibit an issuer&#8217;s securities from trading on any U.S. stock exchanges if
its auditor is not subject to PCAOB inspections for two consecutive years instead of three, thus reducing the time period for triggering
the prohibition on trading. See more detailed discussion of this risk factor on page 50 of this prospectus.</td></tr></table>




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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding&#8217;s Ordinary Shares are thinly traded and you may be unable to sell at or near
                                                                    ask prices or at all if you need to sell your Shares to raise money or otherwise desire to liquidate your shares. See more
                                                                    detailed discussion of this risk factor on page 52 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt">The market price
for our Ordinary shares may be volatile and could decline significantly, potentially subjecting us to securities litigation. See more
detailed discussion of this risk factor on page  52 of this prospectus.</span></p>


</td></tr></table>

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<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">You will experience immediate and substantial dilution in the net tangible book value of Ordinary Shares
purchased. See more detailed discussion of this risk factor on page 53  of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Substantial future sales of Raytech Holding&#8217;s Ordinary Shares or the anticipation of future sales
of Raytech Holding&#8217;s Ordinary Shares in the public market could cause the price of Raytech Holding&#8217;s Ordinary Shares to decline.
See more detailed discussion of this risk factor on page 53 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding does not intend to pay dividends for the foreseeable future. See more detailed discussion
of this risk factor on page  53 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">If securities or industry analysts do not publish research or reports about our business, or if they publish
a negative report regarding Raytech Holding&#8217;s Ordinary Shares, the price of Raytech Holding&#8217;s Ordinary Shares and trading
volume could decline. See more detailed discussion of this risk factor on page 53 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">You may face difficulties in protecting your interests, and your ability to protect your rights through
U.S. courts may be limited, because Raytech Holding is incorporated under British Virgin Islands law. See more detailed discussion of
this risk factor on page 54 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">As a foreign private issuer, Raytech Holding is permitted to, and Raytech Holding is, relying on
                                                                    exemptions from certain Nasdaq Stock Exchange corporate governance standards applicable to domestic U.S. issuers. This may afford
                                                                    less protection to holders of Raytech Holding&#8217;s shares. See more detailed discussion of this risk factor on page 55 of this
                                                                    prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">If Raytech Holding cannot continue to satisfy, the continued listing requirements and other rules of
                                                                    the Nasdaq Capital Market applicable to it, our securities may be delisted, which could negatively impact the price of Raytech
                                                                    Holding&#8217;s securities and your ability to sell them. See more detailed discussion of this risk factor on page 55 of this
                                                                    prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Because our business is conducted in Hong Kong dollars and the price of Raytech Holding&#8217;s Ordinary
Shares is quoted in United States dollars, changes in currency conversion rates may affect the value of your investments. See more detailed
discussion of this risk factor on page 56 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding has broad discretion in the use of the net proceeds from this offering and may not use
them effectively. See more detailed discussion of this risk factor on page 56 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

</div><div>

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</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">There can be no assurance that Raytech Holding will not be a passive foreign investment company
                                                                    (&#8220;PFIC&#8221;), for U.S. federal income tax purposes for any taxable year, which could result in adverse U.S. federal income
                                                                    tax consequences to U.S. holders of Raytech Holding&#8217;s Ordinary Shares. See more detailed discussion of this risk factor on
                                                                    page 56 of this prospectus.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Corporate History and Holding Company Structure</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pure Beauty was incorporated under the laws of Hong Kong with limited
liability on April 15, 2013 and Raytech Holding&#8217;s Chairman and CEO, Mr. Ching is the founder. In order to prepare for its initial
public offering, a series of restructure actions were taken. In June 2022, Raytech Holding was incorporated under the laws of the British
Virgin Islands with the sole purpose being a holding company of Pure Beauty. Upon incorporation, Raytech Holding issued 100 founder shares
of ordinary shares, par value $1.00 per share, to Mr. Ching (90 shares) and other minority shareholders (collectively 10 shares) at $1.00
per share. In August 2022, Mr. Ching, as the sole member of Pure Beauty, transferred all outstanding 10,000 shares of Pure Beauty held
by him to Raytech Holding, in conjunction with which, Pure Beauty issued additional 790,000 shares to Raytech Holding; resulting in Raytech
Holding being the parent company of Pure Beauty, holding a total of 800,000 shares in Pure Beauty. In September 2022, Mr. Ching subsequently
transferred 5 shares of Raytech Holding to APTC Holdings Limited, a British Virgin Islands company, and 5 shares of Raytech Holding to
Mr. Ling Chun Yin, a director of Raytech Holding and the Assistant to CEO of Pure Beauty at $1.00 per share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date hereof, Mr.
Ching holds 72.7% of the equity interests in Raytech Holding and other minority shareholders collectively hold 27.3% of the equity interests
in Raytech Holding.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 10, 2023, we filed
our amended and restated memorandum and articles of association with the Registrar of Corporate Affairs to increase our authorized shares
from 50,000 Ordinary Shares, par value of $1.00 per share, to 8,000,000,000 Ordinary Shares, par value of $0.00000625 per share and effectuated
a forward split of all issued and outstanding shares at a ratio of 160,000-for-1.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In August 2023, Market Tycoon
Investments Limited transferred 480,000 Ordinary Shares to Mr. Wong Tai Chi at $0.00000625 per share, and APTC Holdings Limited transferred
800,000 Ordinary Shares to Ms. Look Wai Yi at $0.00000625 per share. In October 2023, Value Classic Global Limited transferred 640,000
Ordinary Shares to Crystal Charm Investments Limited, a British Virgin Islands company, at $0.00000625 per share, Mr. Wong Tai Chi transferred
480,000 Ordinary Shares to Value Crystal Investment Limited, a British Virgin Islands company, at $0.00000625 per share, and Ms. Look
Wai Yi transferred 800,000 Ordinary Shares to Ace Challenger Limited, a British Virgin Islands company, at $0.00000625 per share.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 17, 2024, we consummated
the sale of 1,500,000 Ordinary Shares (the &#8220;IPO Shares&#8221;) in our initial public offering. The Company completed the IPO on
a firm commitment basis pursuant to the Company&#8217;s registration statement on Form F-1, as amended (File No. 333-275197), filed with
the Securities and Exchange Commission, which was declared effective by the Securities and Exchange Commission on May 13, 2024. The IPO
Shares were priced at $4.00 per share. The Company also granted the underwriter a 45-day option to purchase up to an additional 225,000
Ordinary Shares to cover over-allotments, if any (the &#8220;Over-Allotment Option&#8221;). The Ordinary Shares were approved for listing
on The Nasdaq Capital Market on May 13, 2024 and commenced trading under the symbol &#8220;RAY&#8221; on May 15, 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 5, 2024, upon the
underwriter&#8217;s partial exercise of the Over-Allotment Option, the Company sold an additional 113,083 Ordinary Shares at $4.00 per
share. As a result, the Company has raised gross proceeds of $6,452,332 in the IPO, including the partial exercise of the Over-Allotment
Option, before deducting underwriting discounts and offering expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 6, 2025, the Company established a new, directly wholly-owned
subsidiary, Raytech Innovation Limited, incorporated in Hong Kong. As of the date of this prospectus, Raytech Innovation Limited has not
commenced operations and has no assets.</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin-top: 0pt; margin-bottom: 0pt; text-align: left">The following diagram illustrates
our corporate legal structure:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img alt="" src="image_001.jpg"/></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p></div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Permission Required from the Authorities of Mainland China and Hong
Kong for this Offering </b>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As advised by Raytech Holding&#8217;s
PRC Counsel, AllBright Law Offices (Fuzhou), as of the date of this prospectus, on the basis that (i) we currently do not have or intend
to set up any subsidiary or VIE structure in mainland China,(ii) we do not have any business operations in mainland China, except that
we collaborate with manufacturers located in mainland China to manufacture our products, (iii) none of our clients are located in mainland
China, and (iv) we possess personal information of less than 1 million individuals in the PRC (for the purpose of this subsection (iv),
including the special administrative regions of Hong Kong and Macau and Taiwan), and do not possess any core data or important data of
the PRC or any information which affects or may affect national security of the PRC, we believe, we are currently not required to obtain
any permission or approval from the CAC or any other governmental authorities of mainland China to operate our business or offer subsequent
securities of the company, nor have we been denied of any permissions or approvals from the authorities of mainland China.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As advised by Raytech Holding&#8217;s
PRC Counsel, AllBright Law Offices (Fuzhou), based on the facts that (i) we do not operate any entities in mainland China and the operating
revenue, total profit, total assets or net assets as documented in Raytech Holding&#8217;s audited consolidated financial statements for
the most recent fiscal year is accounted for by our Hong Kong subsidiary, Pure Beauty located outside mainland China; (ii) we do not have
any equity interest in any manufacturer located in mainland China and vice versa; and (iii) we conduct a majority of our business and
are headquartered in Hong Kong rather than in mainland China, and our senior management team are not PRC citizens or have their residence
located outside mainland China, we believe that this offering will not be regarded as a subsequent securities offering in the same overseas
market under the Article 15 of the Overseas Listing Trial Measures, and are not required to fulfill the filing procedures with the CSRC
to issue securities to foreign investors. However, as the Overseas Listing Trial Measures were newly published, there are substantial
uncertainties that the CSRC may take a view that is contrary to our understanding of the Overseas Listing Trial Measures because the Overseas
Listing Trial Measures adopts the principle of &#8220;substance over form&#8221; regarding the determination of &#8220;indirect overseas
offering and listing by a domestic company,&#8221; over which the CSRC may have substantial discretions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on the foregoing, we
do not currently expect the laws and regulations of mainland China have any material impact on our business, financial condition or results
of operations and we are currently not subject to the government of mainland China&#8217;s direct influence or discretion over the manner
in which we conduct our business activities outside of the mainland China. Furthermore, CLKW Lawyers LLP, Raytech Holding&#8217;s Hong
Kong counsel, has advised Raytech Holding that, as of the date of this prospectus, Raytech Holding is not required to obtain any permission
or approval from the governmental authorities of Hong Kong to list on the U.S. exchanges and offer securities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">However, if we (i) do not
receive or maintain such permissions or approvals, should such permissions or approvals be required in the future by the PRC or Hong Kong
government, (ii) inadvertently conclude that such permissions or approvals are not required, or (iii) applicable laws, regulations, or
interpretations change and we are required to obtain such permissions or approvals in the future, we may be unable to obtain such permissions
or approvals in a timely manner, or at all, and may face regulatory actions or other sanctions from the CSRC, the CAC or other PRC or
Hong Kong regulatory authorities if we fail to fully comply with any new regulatory requirements. Consequently, our operations and financial
condition could be materially adversely affected, and Raytech Holding&#8217;s ability to offer securities to investors could be significantly
limited or completely hindered and the securities currently being offered may substantially decline in value and become worthless.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nevertheless, we are aware
that recently, the government of mainland China initiated a series of regulatory actions and statements to regulate business operations
in certain areas in mainland China with little advance notice, including cracking down on illegal activities in the securities market,
enhancing supervision over mainland Chinese companies listed overseas using a VIE structure, adopting new measures to extend the scope
of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. Since these statements and regulatory actions are new,
it is highly uncertain how soon the legislative or administrative regulation making bodies will respond and what existing or new laws
or regulations or detailed implementations and interpretations will be modified or promulgated, if any. It is also highly uncertain what
potential impact such modified or new laws and regulations will have on our daily business operations, our ability to accept foreign investments
and the listing of Raytech Holding&#8217;s Ordinary Shares on a U.S. or other foreign exchanges. If there is significant change to current
political arrangements between mainland China and Hong Kong, the PRC government intervenes or influences operations of companies operated
in Hong Kong like us, or exerts more control through change of laws and regulations over offerings conducted overseas and/or foreign investment
in issuers like us, it may result in a material change in our operations, financial condition and/or the value of the securities Raytech
Holding is registering for sale or could significantly limit or completely hinder Raytech Holding&#8217;s ability to offer or continue
to offer securities to investors and cause the value of Raytech Holding&#8217;s Ordinary Shares to significantly decline or become worthless.
See &#8220;<i>Risk Factors - Risks Related to Our Corporate Structure</i>&#8221; beginning on page 37 and &#8220;<i>Risk Factors
&#8212; Risks Related to Doing Business in Hong Kong</i>&#8221; beginning on page 40 of this prospectus for more information.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Transfers of Cash to and from Our Subsidiary</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is permitted
under the laws of British Virgin Islands to provide funding to its subsidiaries in Hong Kong through loans or capital contributions without
restrictions on the amount of the funds. There are no restrictions or limitation on Raytech Holding&#8217;s ability to distribute earnings
from its businesses, including subsidiary, to the U.S. investors.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our equity structure is a
direct holding company structure, that is, the overseas entity that is listed in the U.S., Raytech Holding, directly holds 100% of shares
of Pure Beauty, Raytech Holding&#8217;s Hong Kong operating entity. Cash is transferred through our organization in the following manner:
(i) funds may be transferred from Raytech Holding, the holding company incorporated in the British Virgin Islands to Pure Beauty in the
form of capital contributions or shareholder loans, as the case may be; and (ii) dividends or other distributions may be paid by Pure
Beauty to Raytech Holding. Pure Beauty is permitted under the laws of Hong Kong to provide funding to Raytech Holding through dividend
distribution out of profits available for distribution without restrictions on the amount of the funds or restrictions on foreign exchange.
If Raytech Holding intends to distribute dividends to its shareholders, it will depend on payment of dividends from Pure Beauty to Raytech
Holding in accordance with the laws and regulations of Hong Kong, and the dividends will be distributed by Raytech Holding to all shareholders
respectively in proportion to the shares they hold, regardless of whether the shareholders are U.S. investors or investors in other countries
or regions. If Pure Beauty incurs debt on its own in the future, the instruments governing such debt may restrict Pure Beauty&#8217;s
ability to pay dividends, make distribution or transfer funds to Raytech Holding. Subject to the BVI Act and our amended and restated
memorandum and articles of association, Raytech Holding&#8217;s board of directors may authorize and declare a dividend to shareholders
at such time and of such an amount as they think fit if they are satisfied, on reasonable grounds, that immediately following the dividend
the value of Raytech Holding&#8217;s assets will exceed its liabilities and Raytech Holding will be able to pay its debts as they become
due. There is no further BVI statutory restriction on the amount of funds which may be distributed by us by dividend.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since its IPO, Raytech Holdings
has not declared any dividends. Both Raytech Holding and Pure Beauty currently intend to retain all available funds and future earnings,
if any, for the operation and expansion of our business and do not anticipate declaring or paying any dividends in the foreseeable future.
Any future determination related to our dividend policy will be made at the discretion of Raytech Holding&#8217;s board of directors after
considering our financial condition, results of operations, capital requirements, contractual requirements, business prospects and other
factors the board of directors deems relevant, and subject to the restrictions contained in any future financing instruments.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Within our direct holding
company structure, the cross-border transfer of funds within our corporate Company is legal and compliant with the laws and regulations
of the British Virgin Islands and Hong Kong. In the future, cash proceeds from overseas financing activities, including this offering,
can be directly transferred to our subsidiary Pure Beauty via capital contribution or shareholder loans.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the reporting periods presented
in this prospectus, no cash and other asset transfers have occurred among the Company and its subsidiaries.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Currently, substantially all
of our operations are in Hong Kong. We do not have or intend to set up any subsidiary or enter into any contractual arrangements to establish
a VIE structure with any entity in mainland China. Since Hong Kong is a special administrative region of the PRC and the basic policies
of the PRC regarding Hong Kong are reflected in the Basic Law, providing Hong Kong with a high degree of autonomy and executive, legislative
and independent judicial powers, including that of final adjudication under the principle of &#8220;one country, two systems&#8221;. The
laws and regulations of mainland China do not currently have any material impact on transfer of cash from Raytech Holding to Pure Beauty
or from Pure Beauty to Raytech Holding and the investors in the U.S.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There are no restrictions
or limitation under the laws of Hong Kong imposed on the conversion of HKD into foreign currencies and the remittance of currencies out
of Hong Kong.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">See &#8220;<i>Dividend Policy</i>&#8221; on page 59 and &#8220;<i>Risk
Factors &#8211; Risks Related to Our Corporate Structure</i> &#8211; <i>Raytech Holding may rely on dividends and other distributions
on equity paid by its subsidiaries to fund any cash and financing requirements Raytech Holding may have, and any limitation on the ability
of its subsidiaries to make payments to Raytech Holding could have a material adverse effect on Raytech Holding&#8217;s ability to conduct
its business</i>.&#8221; on page 37 of this prospectus for more information.</p>

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<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Raytech Holding&#8217;s Corporate Information</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding&#8217;s principal
executive offices are located at Unit 609, 6/F, Nan Fung Commercial Centre, No.19 Lam Lok Street, Kowloon Bay, Hong Kong, and its telephone
number is +852 2117 0236. Raytech Holding&#8217;s registered office in the British Virgin Islands is at Aegis Chambers, 1st Floor, Ellen
Skelton Building, 3076 Sir Francis Drake&#8217;s Highway, Road Town, Tortola, VG1110, British Virgin Islands. Raytech Holding maintains
a website at www.raytech.com.hk. The information contained in, or accessible from, Raytech Holding&#8217;s website or any other website
does not constitute a part of this prospectus.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Recent Regulatory Development in PRC</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are not based in mainland
China and do not have operations in mainland China, except that we collaborate with manufacturers located in mainland China to manufacture
the products. We currently do not have or intend to set up any subsidiary in mainland China, or do not foresee the need to enter into
any contractual arrangements with a VIE to establish a VIE structure in mainland China. For the six months ended September 30, 2024 and
the fiscal years ended March 31, 2024, and 2023, we generated all our revenues from Hong Kong. Pursuant to the Basic Law, which is a national
law of the PRC and the constitutional document for Hong Kong, national laws of the PRC shall not be applied in Hong Kong except for those
listed in Annex III of the Basic Law and applied locally by promulgation or local legislation. The Basic Law expressly provides that the
national laws of the PRC which may be listed in Annex III of the Basic Law shall be confined to those relating to defense and foreign
affairs as well as other matters outside the autonomy of Hong Kong. The basic policies of the PRC regarding Hong Kong as a special administrative
region of the PRC are reflected in the Basic Law, providing Hong Kong with a high degree of autonomy and executive, legislative and independent
judicial powers, including that of final adjudication under the principle of &#8220;one country, two systems&#8221;.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">However, in light of the PRC
government&#8217;s recent expansion of authority in Hong Kong, we may be subject to uncertainty about any future actions of the PRC government
or authorities in Hong Kong, and it is possible that all the legal and operational risks associated with being based in and having operations
in the PRC may also apply to operations in Hong Kong in the future. There is no assurance that there will not be any changes in the economic,
political and legal environment in Hong Kong. The PRC government may intervene or influence our current and future operations in Hong
Kong at any time, or may exert more control over offerings conducted overseas and/or foreign investment in issuers like Raytech Holding.
Such governmental actions, if and when occur: (i) could significantly limit or completely hinder our ability to continue our operations;
(ii) could significantly limit or completely hinder Raytech Holding&#8217;s ability to offer or continue to offer its Ordinary Shares
to investors; and (iii) may cause the value of Raytech Holding&#8217;s Ordinary Shares to significantly decline or be worthless.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are also aware that, recently,
the government of mainland China initiated a series of regulatory actions and statements to regulate business operations in certain areas
in mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision
over mainland-China-based companies listed overseas using variable interest entity structure, adopting new measures to extend the scope
of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. For example, on July 6, 2021, the General Office of
the Communist Party of China Central Committee and the General Office of the State Council jointly issued the Opinions on Strictly and
Lawfully Cracking Down Illegal Securities Activities to crack down on illegal activities in the securities market and promote the high-quality
development of the capital market, which, among other things, requires the relevant governmental authorities to strengthen cross-border
oversight of law-enforcement and judicial cooperation, to enhance supervision over mainland-China-based companies listed overseas, and
to establish and improve the system of extraterritorial application of the PRC securities laws.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 28, 2021, the
CAC and other authorities of mainland China promulgated the Cybersecurity Review Measures, which took effect on February 15, 2022. In
addition, the Cybersecurity Law, which was adopted by the Standing Committee of the National People&#8217;s Congress on November 7, 2016
and came into force on June 1, 2017, and the Cybersecurity Review Measures, or the &#8220;Review Measures&#8221;, provide that personal
information and important data collected and generated by a critical information infrastructure operator, or a &#8220;CIIO&#8221;, in
the course of its operations in mainland China must be stored mainland China, and if a CIIO purchases internet products and services that
affect or may affect national security, it should be subject to national security review by the CAC together with competent departments
of the State Council. On November 14, 2021, the CAC published the Regulations on the Network Data Security Administration Draft, or the
&#8220;Network Data Security Regulations Draft&#8221;, to solicit public opinion and comments. Under the Network Data Security Regulations
Draft, an overseas initial public offering to be conducted by a data processor processing the personal information of more than one million
individuals shall apply for a cybersecurity review. Data processor means an individual or organization that independently makes decisions
on the purpose and manner of processing in data processing activities, and data processing activities refers to activities such as the
collection, retention, use, processing, transmission, provision, disclosure, or deletion of data.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not currently expect
the Review Measures to have an impact on our business, operations or this offering as we do not believe either Pure Beauty, our current
operating subsidiary, or Raytech Innovation, our newly formed non-operational subsidiary is deemed to be a &#8220;CIIO&#8221; or a &#8220;data
processor&#8221; controlling personal information of no less than one million users. Hence, as advised by our PRC Counsel, AllBright Law
Offices (Fuzhou), we are not required to file for cybersecurity review, because (i) our subsidiaries, Pure Beauty and Raytech Innovation,
are incorporated and operating in Hong Kong without any subsidiary or VIE structure in mainland China and the Review Measures remains
unclear whether it shall be applied to a Hong Kong company; (ii) as of the date of this prospectus, neither Pure Beauty nor Raytech Innovation
did not collect and store any personal information of individual customers of mainland China and possess personal information of less
than 1 million individuals in the PRC (for the purpose of this subsection (ii), including the special administrative regions of Hong Kong
and Macau and Taiwan), and do not possess any core data or important data of the PRC or any information which affects or may affect national
security of the PRC; and (iii) as of the date of this prospectus, neither Pure Beauty nor Raytech Innovation has not been informed by
any governmental authority of mainland China of any requirement that it file for a cybersecurity review. However, there remains significant
uncertainty in the interpretation and enforcement of relevant cybersecurity laws and regulations of mainland China. If either Pure Beauty
or Raytech Innovation is deemed to be a &#8220;CIIO&#8221; or a &#8220;data processor&#8221; controlling personal information of no less
than one million users in the future, Pure Beauty&#8217;s operations and the listing of Raytech Holding&#8217;s Ordinary Shares in the
U.S. could be subject to CAC&#8217;s cybersecurity review. If the authorized PRC regulatory body subsequently determines that we are required
to go through such cybersecurity review or if any other PRC government authorities promulgate any interpretation or implementation rules
before Raytech Holding&#8217;s listing that would require us to go through a cybersecurity review for this offering, we may fail to complete
such cybersecurity review procedures in a timely manner, or at all. Any failure or delay in the completion of the cybersecurity review
procedures or any other non-compliance with the related laws and regulations may result in fines or other penalties, reputational damage
as well as legal proceedings or actions against us, which may have material adverse effect on our business, financial condition or results
of operations.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are also aware that recently,
the government of mainland China initiated a series of regulatory actions and statements to regulate business operations in certain areas
in mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision
over mainland Chinese companies listed overseas using a VIE structure, adopting new measures to extend the scope of cybersecurity reviews,
and expanding the efforts in anti-monopoly enforcement. Nevertheless, since these statements and regulatory actions are new, it is highly
uncertain how soon the legislative or administrative regulation making bodies will respond and what existing or new laws or regulations
or detailed implementations and interpretations will be modified or promulgated, if any. It is also highly uncertain what the potential
impact such modified or new laws and regulations will have on Pure Beauty&#8217;s daily business operations, its ability to accept foreign
investments and the listing of Raytech Holding&#8217;s Ordinary Shares on a U.S. or other foreign exchange. As advised by Raytech Holding&#8217;s
PRC Counsel, AllBright Law Offices (Fuzhou), and to the knowledge of the management, on the basis that (i) our subsidiaries, Pure Beauty
and Raytech Innovation, are incorporated and operating in Hong Kong without any subsidiary or VIE structure, or any intent to set up subsidiary
or VIE structure in mainland China, and (ii) Pure Beauty does not have any business operations in mainland China, except for its collaboration
with manufacturers located in mainland China to manufacture our products, (iii) none of Pure Beauty&#8217;s clients are located in mainland
China, and (iv) we possess personal information of less than 1 million individuals in the PRC (for the purpose of this subsection (iv),
including the special administrative regions of Hong Kong and Macau and Taiwan), and do not possess any core data or important data of
the PRC or any information which affects or may affect national security of the PRC, our subsidiaries are not required to obtain regulatory
approval for this offering of Raytech Holding&#8217;s Ordinary Shares to foreign investors from the authorities of mainland China, nor
have our subsidiaries been denied of any permissions or approvals from the authorities of mainland China. Furthermore, CLKW Lawyers LLP,
Raytech Holding&#8217;s Hong Kong counsel, has advised Raytech Holding that, as of the date of this prospectus, neither Pure Beauty nor
Raytech Innovation is required to obtain regulatory approval for this offering of Raytech Holding&#8217;s Ordinary Shares to foreign investors
from the authorities of Hong Kong. However, if there is significant change to current political arrangements between mainland China and
Hong Kong, or the applicable laws, regulations, or interpretations change, and our subsidiaries are required to obtain such approval in
the future, and our subsidiaries do not receive or maintain the approvals or are denied permission from the authorities of mainland China
or Hong Kong, we will not be able to continue our listing of Raytech Holding&#8217;s Ordinary Shares on Nasdaq or any other U.S. exchange,
or continue to offer securities to investors, which would materially affect the interests of the investors and cause significant depreciation
of the price of Raytech Holding&#8217;s Ordinary Shares. However, if our subsidiaries (i) do not receive or maintain such permissions
or approvals, should such permissions or approvals be required in the future by the PRC or Hong Kong government, (ii) inadvertently conclude
that such permissions or approvals are not required, or (iii) applicable laws, regulations, or interpretations change and our subsidiaries
are required to obtain such permissions or approvals in the future, our subsidiaries may be unable to obtain such permissions or approvals
in a timely manner, or at all, and may face regulatory actions or other sanctions from the CSRC, the CAC or other PRC or Hong Kong regulatory
authorities if our subsidiaries fail to fully comply with any new regulatory requirements. Consequently, our operations and financial
condition could be materially adversely affected, and Raytech Holding&#8217;s ability to offer securities to investors could be significantly
limited or completely hindered and the securities currently being offered may substantially decline in value and become worthless. See
&#8220;<i>Risk Factors - Risks Related to Doing Business in Hong Kong</i> &#8211; <i>There remain some uncertainties as to whether we
will be required to obtain approval from authorities of mainland China and Hong Kong authorities to list additional Raytech Holding&#8217;s
securities on U.S. exchanges in the future, and if required, we cannot assure you that we will be able to obtain such approval.</i>&#8221;
on page 44 of this prospectus.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, we rely on two
major manufacturers, Zhongshan Raytech and Zhongshan Leimi, which are located in Zhongshan, mainland China. For the year ended March 31,
2023, payments to each of Zhongshan Raytech and Zhongshan Leimi accounted for 83.1% and 10.4%, respectively, of the total manufacturing
costs of the Company. For the year ended March 31, 2024, payments to Zhongshan Raytech accounted for 88.5% of the total manufacturing
costs of the Company. For the six months ended September 30, 2023, payments to Zhongshan Raytech accounted for 92.7% of the total manufacturing
costs of the Company. For the six months ended September 30, 2024, payments to Zhongshan Raytech accounted for 91.5% of the total manufacturing
costs of the Company.</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain risks associated
with our major manufacturers in mainland China, including political and economic instability, global or regional adverse conditions,
the financial stability of our manufacturers, our manufacturers&#8217; ability to meet our standards, labor problems experienced by
such manufacturers, the availability or cost of raw materials, merchandise quality issues, currency exchange rates, trade tariff
developments, transport availability and cost, and other factors relating to our manufacturers are beyond our control, could
adversely affect our business, financial condition and results of operations. See &#8220;<i>Risk Factors - Risks Related to Our
Business</i> &#8211; <i> Our major manufacturers are located in mainland China which could adversely affect our business,
financial condition and results of operations.</i>&#8221; on page 28 of this prospectus.</p>

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</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Implications of the HFCA Act</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On March 24, 2021, the SEC
adopted interim final rules relating to the implementation of certain disclosure and documentation requirements of the HFCA Act. An issuer
will be required to comply with these rules if the SEC identifies it as having a &#8220;non-inspection&#8221; year under a process to
be subsequently established by the SEC. In June 2021, the Senate passed the AHFCAA, which would reduce the time period for the delisting
of foreign companies under the HFCA Act to two consecutive years instead of three years. On September 22, 2021, the PCAOB adopted a final
rule implementing the HFCA Act, which provides a framework for the PCAOB to use when determining, as contemplated under the HFCA Act,
whether the PCAOB is unable to inspect or investigate completely registered public accounting firms located in a foreign jurisdiction
because of a position taken by one or more authorities in that jurisdiction. On December 2, 2021, the SEC issued amendments to finalize
rules implementing the submission and disclosure requirements in the HFCA Act. The rules apply to registrants that the SEC identifies
as having filed an annual report with an audit report issued by a registered public accounting firm that is located in a foreign jurisdiction
and that the PCAOB is unable to inspect or investigate completely because of a position taken by an authority in foreign jurisdictions.
On December 16, 2021, the PCAOB issued a Determination Report which found that the PCAOB is unable to inspect or investigate completely
registered public accounting firms headquartered in mainland China of the PRC and Hong Kong; and such report identified the specific registered
public accounting firms which are subject to these determinations. On August 26, 2022, a Statement of Protocol was signed by the PCAOB,
the CSRC and the Ministry of Finance of the PRC governing inspections and investigations of audit firms based in mainland China and Hong
Kong. Pursuant to the Statement of Protocol, the PCAOB conducted inspections on select registered public accounting firms subject to the
Determination Report in Hong Kong between September and November 2022. On December 15, 2022, the PCAOB board announced that it has completed
the inspections, determined that it had complete access to inspect or investigate completely registered public accounting firms headquartered
in mainland China and Hong Kong, and voted to vacate the Determination Report. On December 29, 2022, the CAA was signed into law by President
Biden. The CAA contained, among other things, an identical provision to the AHFCAA, which reduces the number of consecutive non-inspection
years required for triggering the prohibitions under the HFCA Act from three years to two.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding&#8217;s auditor,
WWC, P.C., is headquartered in San Mateo, California, and has been inspected by the PCAOB on a regular basis. Raytech Holding&#8217;s
auditor is not headquartered in mainland China or Hong Kong and was not identified in the Determination Report as a firm subject to the
PCAOB&#8217;s determinations. Notwithstanding the foregoing, in the future, if there is any regulatory change or step taken by PRC regulators
that does not permit WWC, P.C. to provide audit work papers located in mainland China or Hong Kong to the PCAOB for inspection or investigation,
or the PCAOB re-evaluates its determination as a result of any obstruction with the implementation of the Statement of Protocol in the
future, Raytech Holding&#8217;s investors may be deprived of the benefits of such inspection which could result in limitation or restriction
to Raytech Holding&#8217;s access to the U.S. capital markets and trading of its securities on a national exchange or &#8220;over-the-counter&#8221;
markets may be prohibited under the HFCA Act. See &#8220;<i>Risk Factors</i> &#8212; <i>Risks Related to Raytech Holding&#8217;s Ordinary
Shares and This Offering </i>&#8212; <i>Although the audit report included in this prospectus is prepared by U.S. auditors who are currently
inspected by the PCAOB, there is no guarantee that future audit reports will be prepared by auditors inspected by the PCAOB and, as such,
in the future investors may be deprived of the benefits of such inspection. Furthermore, trading in Raytech Holding&#8217;s securities
may be prohibited under the HFCA Act if the SEC subsequently determines Raytech Holding&#8217;s audit work is performed by auditors that
the PCAOB is unable to inspect or investigate completely, and as a result, U.S. national securities exchanges, such as the Nasdaq, may
determine to delist Raytech Holding&#8217;s securities. Furthermore, on June 22, 2021, the U.S. Senate passed the AHFCAA, which would
amend the HFCA Act and require the SEC to prohibit an issuer&#8217;s securities from trading on any U.S. stock exchanges if its auditor
is not subject to PCAOB inspections for two consecutive years instead of three, thus reducing the time period for triggering the prohibition
on trading.</i>&#8221; on page 50 of this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Implications of Being an &#8220;Emerging Growth Company&#8221;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

<p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As a company with less than $1.235 billion in revenue
during our last fiscal year, Raytech Holding qualifies as an &#8220;emerging growth company&#8221; as defined in the Jumpstart Our Business
Startups Act of 2012, or the JOBS Act. An &#8220;emerging growth company&#8221; may take advantage of reduced reporting requirements that
are otherwise generally applicable to public companies. In particular, as an emerging growth company, Raytech Holding:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">may present only two years of audited financial statements and only two years of related Management&#8217;s
Discussion and Analysis of Financial Condition and Results of Operations, or MD&amp;A;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">is not required to provide a detailed narrative disclosure discussing Raytech Holding&#8217;s compensation
principles, objectives and elements and analyzing how those elements fit with Raytech Holding&#8217;s principles and objectives, which
is commonly referred to as &#8220;compensation discussion and analysis&#8221;;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

</div><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">is not required to obtain an attestation and report from Raytech Holding&#8217;s independent registered
accounting firm on its management&#8217;s assessment of Raytech Holding&#8217;s internal control over financial reporting pursuant to
the Sarbanes-Oxley Act of 2002;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">is not required to obtain a non-binding advisory vote from Raytech Holding&#8217;s shareholders on executive
compensation or golden parachute arrangements (commonly referred to as the &#8220;say-on-pay,&#8221; &#8220;say-on frequency&#8221; and
&#8220;say-on-golden-parachute&#8221; votes);</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">is exempt from certain executive compensation disclosure provisions requiring a pay-for-performance graph
and CEO pay ratio disclosure;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">is eligible to claim longer phase-in periods for the adoption of new or revised financial accounting standards
under &#167;107 of the JOBS Act; and</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">will not be required to conduct an evaluation of our internal control over financial reporting for two
years.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Raytech Holding has opted to take
advantage of all of these reduced reporting requirements and exemptions, including the longer phase-in periods for the adoption of new
or revised financial accounting standards under &#167;107 of the JOBS Act. Raytech Holding&#8217;s election to use the phase-in periods
may make it difficult to compare its financial statements to those of non-emerging growth companies and other emerging growth companies
that have opted out of the phase-in periods under &#167;107 of the JOBS Act.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: normal 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Under the JOBS Act, Raytech Holding
is able to take advantage of the above-described reduced reporting requirements and exemptions for up to five years after Raytech Holding&#8217;s
initial sale of common equity pursuant to a registration statement declared effective under the Securities Act of 1933, as amended, herein
referred to as the Securities Act, or such earlier time that we no longer meet the definition of an emerging growth company.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding will remain
an emerging growth company until the earliest of: (i) the last day of the first fiscal year in which its annual gross revenue exceeds
$1.235 billion; (ii) the last day of the fiscal year during which the fifth anniversary of the date of this offering occurs; (iii) the
date that Raytech Holding becomes a &#8220;large accelerated filer&#8221; as defined in Rule 12b-2 under the Securities Exchange Act of
1934, as amended, herein referred to as the Exchange Act, which would occur if the market value of Raytech Holding&#8217;s Ordinary Shares
that are held by non-affiliates exceeds $700 million as of the last business day of Raytech Holding&#8217;s most recently completed second
fiscal quarter; or (iv) the date on which Raytech Holding has issued more than $1.00 billion in non-convertible debt securities during
any three-year period.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is subject
to the periodic reporting requirements under the Exchange Act as a non-U.S. company with foreign private issuer status. Even after Raytech
Holding no longer qualifies as an emerging growth company, as long as Raytech Holding qualifies as a foreign private issuer under the
Exchange Act it will be exempt from certain provisions of the Exchange Act that are applicable to U.S. domestic public companies, including:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">the sections of the Exchange Act regulating the solicitation of proxies, consents or authorizations in
respect of a security registered under the Exchange Act;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">the sections of the Exchange Act requiring insiders to file public reports of their stock ownership and
trading activities and liability for insiders who profit from trades made in a short period of time; and</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">the rules under the Exchange Act requiring the filing with the SEC of quarterly reports on Form 10-Q containing
unaudited financial and other specific information, or current reports on Form 8-K, upon the occurrence of specified significant events.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Both foreign private issuers
and emerging growth companies are also exempt from certain more stringent executive compensation disclosure rules. Thus, even if Raytech
Holding no longer qualifies as an emerging growth company, but remain a foreign private issuer, Raytech Holding will continue to be exempt
from the more stringent compensation disclosures required of companies that are neither an emerging growth company nor a foreign private
issuer.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Implications of Being a Foreign Private Issuer</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is incorporated
in the British Virgin Islands and more than 50% of its outstanding voting securities are not directly or indirectly held by residents
of the United States. Therefore, Raytech Holding is a &#8220;foreign private issuer,&#8221; as defined in Rule 405 under the Securities
Act and Rule 3b-4(c) under the Exchange Act. As a result, Raytech Holding is not subject to the same reporting requirements as U.S. domestic
issuers. Under the Exchange Act, Raytech Holding is subject to reporting obligations that, to some extent, are more lenient and less frequent
than those of U.S. domestic reporting companies. For example:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding is not required to provide as many Exchange Act reports or provide periodic and current
reports as frequently, as a domestic public company;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">for interim reporting, Raytech Holding is permitted to comply solely with Raytech Holding&#8217;s home
country requirements, which are less rigorous than the rules that apply to domestic public companies;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding is not required to provide the same level of disclosure on certain issues, such as executive
compensation;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding is exempt from provisions of Regulation FD aimed at preventing issuers from making selective
disclosures of material information;</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding is not required to comply with the sections of the Exchange Act regulating the solicitation
of proxies, consents or authorizations in respect of a security registered under the Exchange Act; and</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Raytech Holding is not required to comply with Section 16 of the Exchange Act requiring insiders to file
public reports of their share ownership and trading activities and establishing insider liability for profits realized from any &#8220;short-swing&#8221;
trading transaction.</td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">THE OFFERING</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 21%"><b>Ordinary Shares offered by Raytech Holding</b>&#160;</td>
    <td style="width: 1%">&#160;</td>
    <td style="width: 78%; text-align: justify"><p style="margin: 0; font: 10pt Times New Roman, Times, Serif">30,000,000 Ordinary Shares. See &#8220;<i>Description of Shares</i>&#8221;
in this prospectus for more information.</p></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td><b>Price per Ordinary Share</b></td>
    <td>&#160;</td>
    <td style="text-align: justify"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">$[&#9679;] per Ordinary Share.</p></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td><b>Ordinary Shares outstanding prior to completion of this offering</b></td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">17,613,083 Ordinary Shares.</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td><b>Ordinary Shares outstanding immediately after this offering</b>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td>
    <p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">47,613,083 Ordinary Shares&#160;</p></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td><b>Transfer Agent</b></td>
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    <td style="text-align: justify">Transhare Corporation, with its offices located at 17755 North US Highway 19, Suite # 140, Clearwater, FL 33764. </td></tr>
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    <td style="text-align: justify">Our Ordinary Shares are listed on the Nasdaq Capital Market under the symbol &#8220;RAY&#8221;.</td></tr>
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acquisitions and investments, trading business expansion plans, marketing, sales and product development, and general working capital.
See &#8220;Use of Proceeds&#8221; on page 59 of this prospectus for more information.</p></td></tr>
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agent, offer, issue, sell, contract to sell, encumber, grant any option for the sale of, or otherwise issue any securities, subject to
certain customary exceptions, including the issuance of shares of Ordinary Shares upon the exercise of currently outstanding options approved
by the Placement agent. Additionally, each of the Company&#8217;s directors and officers has agreed that for a period of twenty (20) days
after the closing date of this offering, they will not, without the prior written consent of the Placement agent, offer, issue, sell,
contract to sell, encumber, or otherwise dispose of any securities of the Company held by them. See &#8220;Shares Eligible for Future
Sale&#8221; on page 115 and &#8220;<i>Plan of Distribution</i>&#8221; beginning on page 124 of this prospectus for more information.</p></td></tr>
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    <td style="text-align: justify">The Ordinary Shares offered hereby involve a high degree of risk. You should read &#8220;Risk
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  </table>
<p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p>

</div><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div style="padding-right: 5.4pt; padding-left: 5.4pt; border: Black 1.5pt solid">

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p>

<a id="a_002"></a><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SUMMARY CONSOLIDATED FINANCIAL AND OPERATING
DATA</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following tables summarize
our consolidated financial data for the periods and as of the dates indicated. The summary consolidated statements of income for the years
ended March 31, 2023 and 2024 and the summary consolidated balance sheets as of March 31, 2023 and 2024 have been derived from our consolidated
financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America,
or U.S. GAAP, and included elsewhere in this prospectus. The summary consolidated statements of income for the six months ended September
30, 2023 and 2024 and the summary consolidated balance sheet data as of September 30, 2023 and 2024 are derived from our unaudited interim
condensed consolidated financial statements that are included elsewhere in this prospectus. Our historical results are not necessarily
indicative of the results that may be expected in the future. The following summary consolidated financial data should be read in conjunction
with &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations&#8221; and our consolidated financial
statements included elsewhere in this prospectus.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table presents
our summary consolidated statements of income for the years ended March 31, 2023 and 2024, and for the six months ended September 30,
2023 and 2024:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>


<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in"><span style="font-size: 10pt"><sup>(1)</sup></span></td>
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  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0">The following table presents our summary consolidated balance sheets
as of March 31, 2023 and 2024 and September 30, 2024:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of March 31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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of September 30,</b></p></td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="padding-bottom: 1.5pt">&#160;</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">1,734,550</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,855,686</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">237,121</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">514,007</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">85,477</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">-</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -10pt; padding-left: 10.25pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,585,656</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 1.5pt; text-indent: -10pt; padding-left: 30.25pt">TOTAL SHAREHOLDERS&#8217; EQUITY</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">21,138,507</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">31,075,301</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">3,970,828</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">73,345,685</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">9,440,449</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
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    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10.25pt">TOTAL LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">33,052,359</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">58,113,014</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">7,425,729</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">95,783,696</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">12,328,484</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in"><sup>(1)</sup></td>
    <td style="text-align: justify">Giving retroactive effect to the 160,000-for-1 share split effected on May 10, 2023. 1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.</td></tr>
  </table>
<p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p>

</div><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="a_003"></a></div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><b>RISK FACTORS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>An investment in Raytech
Holding&#8217;s Ordinary Shares involves a high degree of risk. Before deciding whether to invest in Raytech Holding&#8217;s Ordinary
Shares, you should consider carefully the risks described below, together with all of the other information set forth in this prospectus,
including the section titled &#8220;Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operation&#8221;
and our consolidated financial statements and related notes. If any of these risks actually occurs, our business, financial condition,
results of operations or cash flow could be materially and adversely affected, which could cause the trading price of Raytech Holding&#8217;s
Ordinary Shares to decline, resulting in a loss of all or part of your investment. The risks described below are not the only ones that
we face. Additional risks not presently known to us or that we currently deem immaterial may also affect our business. You should only
consider investing in Raytech Holding&#8217;s Ordinary Shares if you can bear the risk of loss of your entire investment.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risks Related to Our Business</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Changes in capital markets, merger and
acquisition activity, legal or regulatory requirements, general economic conditions and monetary or geopolitical disruptions, as well
as other factors beyond our control, could reduce demand for our products, in which case our revenues and profitability could decline.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 27pt"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">Different factors outside of our
control could affect demand for our products. These include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">fluctuations in global economies, including economic downturns or recessions and the strength and rate
of any general economic recoveries;</td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                             </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">level of leverage incurred by countries or businesses;</td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                              </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">merger and acquisition activity;</td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                        </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">frequency and complexity of significant commercial litigation;</td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                                      </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">over expansion by businesses causing financial difficulties;</td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                                    </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">business and management crises, including the occurrence of alleged fraudulent or illegal activities and
practices;</td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                    </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">new and complex laws and regulations, repeals of existing laws and regulations or changes of enforcement
of laws, rules and regulations, including antitrust/competition reviews of proposed merger and acquisition transactions;</td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                  </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">other economic, geographic or political factors; and</td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                            </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">general business conditions.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are not able to predict
the positive or negative effects that future events or changes to global economies will have on our business. Fluctuations, changes and
disruptions in financial, credit, merger and acquisition and other markets, political instability and general business factors could impact
various segments&#8217; operations and could affect such operations differently. Changes to factors described above, as well as other
events, including by way of example, contractions of regional economies, or the economy of a particular country, trade restrictions, monetary
systems, banking, real estate and retail or other industries; debt or credit difficulties or defaults by businesses or countries; new,
repeals of or changes to laws and regulations, including changes to the bankruptcy and competition laws of the U.S. or other countries;
tort reform; banking reform; a decline in the implementation or adoption of new laws or regulation, or in government enforcement, litigation
or monetary damages or remedies that are sought; or political instability may have adverse effects on our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our revenues, operating income and cash flows are likely to
fluctuate.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We experience fluctuations
in our revenues and cost structure and the resulting operating income and cash flows and expect that this will continue to occur in the
future. We may experience fluctuations in our annual and quarterly financial results, including revenues, operating income and earnings
per share, for reasons that may include: (i) the types and complexity, number, size, timing and duration of customer engagements; (ii)
the timing of revenue recognition under U.S. GAAP; (iii) the utilization of revenue-generating professionals, including the ability to
adjust staffing levels up or down to accommodate the business and prospects of the applicable segment and practice; (iv) the geographic
locations of our customers or the locations where services are rendered; (v) billing rates and fee arrangements, including the opportunity
and ability to successfully reach milestones and complete, and collect success fees and other outcome-contingent or performance-based
fees; (vi) the length of billing and collection cycles and changes in amounts that may become uncollectible; (vii) changes in the frequency
and complexity of government regulatory and enforcement activities; (viii) business and asset acquisitions; (ix) fluctuations in the exchange
rates of various currencies against the U.S. dollar; (x) fee adjustments upon the renewal of expired service contracts or acceptance of
new customers due to the adjusted scope per our refined business strategy; and (xi) economic factors beyond our control.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The results of our business
operation may be affected differently by the above factors. The positive effects of certain events or factors on our business may not
be sufficient to overcome the negative effects of those same events or factors on other parts of our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our results are subject to
seasonal and other similar factors. While we assess our annual guidance at the end of each quarter and update such guidance when we think
it is appropriate, unanticipated future volatility can cause actual results to vary significantly from our guidance, even where that guidance
reflects a range of possible results and has been updated to take account of partial-year results.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We have a substantial customer concentration, with a limited
number of customers accounting for a substantial portion of our revenues.</i>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We engaged in developing,
manufacturing and selling products relating to home electric appliances. We derive a significant portion of our revenues from a few major
customers. We currently have two major customers: (i) Koizumi Seiki Corp., a Japanese company, having been doing business for over 300
years since 1716, which is one of the leading corporations specialized in small appliance market in Japan; the current contract we have
with Koizumi Seiki Corp. was executed on July 1, 2014, automatically renewable on annual basis unless otherwise terminated by either party
with a notice given at least six months prior to the expiration of then existing term of the contract; (ii) another customer, a U.S. home
appliance manufacturer; and (iii) a global distributor of various consumer products.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended March 31,
2023, sales to Koizumi Seiki Corp. represented 91.3% of our revenue. For the year ended March 31, 2024, sales to Koizumi Seiki Corp. represented
74.1% of our revenue and another customer represented 16.5% of our revenue. For the six months ended September 30, 2023, we generated
81% and 17% of our total revenue from Koizumi Seiki Corp. and another customer, who is a global distributor of various consumer products,
respectively. For the six months ended September 30, 2024, we generated 57.8% and 33.7% of our total revenue from Koizumi Seiki Corp.
and another customer, respectively.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Inherent risks exist whenever
a large percentage of total revenues are concentrated with a limited number of customers. It is not possible for us to predict the future
level of demand for the products of these customers in the marketplace or the future demand for our products and services by these customers.
If any of these customers experience declining or delayed sales due to market, economic or competitive conditions, we could be pressured
to reduce our prices or they could decrease the purchase quantity of our products, which could have an adverse effect on our margins and
financial position, and could negatively affect our revenues and results of operations. If any of our major largest customers stop coming
to us for customized products, such suspension would materially negatively affect our revenues, results of operations and financial condition.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We rely on a limited number of manufactures, some of which
we are affiliated with. A loss of any of these manufactures could significantly negatively affect our business.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We rely on a limited number
of manufacturers who are responsible for manufacturing hair care and skincare products. For the years ended March 31, 2023 and 2024, and
for the six months ended September 30, 2023 and 2024, we relied on two major manufacturers, (i) Zhongshan Raytech Electrical Appliances
Manufacturing Co. Ltd. (&#8220;Zhongshan Raytech&#8221;), a factory located in Zhongshan, China, and is owned by Mr. Ching Tim Hoi, who
is also our CEO, Chairman and controlling shareholder, and (ii) Zhongshan Leimi Electrical Appliances Company Limited (&#8220;Zhongshan
Leimi&#8221;), a factory located in Zhongshan, China. The current contracts we have with Zhongshan Raytech and Zhongshan Leimi were executed
on January 1, 2021 and are automatically renewable on an annual basis unless otherwise terminated by either party with a notice given
at least six months prior to the expiration of the then-existing term of the contract. Pursuant to each contract with Zhongshan Raytech
and Zhongshan Leimi, we place orders with the manufacturer based on orders from our customers and the manufacturer is responsible to manufacture
the products according to the requirements of each order.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended March 31,
2023, payments to each of Zhongshan Raytech and Zhongshan Leimi accounted for 83.1% and 10.4%, respectively, of the total manufacturing
costs of the Company. For the year ended March 31, 2024, payments to Zhongshan Raytech accounted for 88.5% of the total manufacturing
costs of the Company. For the six months ended September 30, 2023, payments to Zhongshan Raytech accounted for 92.7% of the total manufacturing
costs of the Company. For the six months ended September 30, 2024, payments to Zhongshan Raytech accounted for 91.5% of the total manufacturing
costs of the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not currently have other
reliable alternatives or replacements for these manufacturers. This reliance on a limited number of manufactures increases our risks.
If we experience a significant increase in demand of our products, or if we need to replace an existing manufacturer, we may not be able
to supplement service or replace them on acceptable terms, which may undermine our ability to deliver products to our customers in a timely
manner. Identifying and approving suitable manufacturers could be an extensive process that requires us to become satisfied with their
quality control, technical capabilities, responsiveness and service, financial stability, regulatory compliance, and labor and other ethical
practices. Accordingly, a loss of any significant manufacturer would have an adverse effect on our business, financial condition and results
of operations. In addition, our manufacturers may face supply chain risks and constraints of their own, which may impact the availability
and pricing of our products and delay for the deliveries of our products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our major manufacturers are located in mainland China which
could adversely affect our business, financial condition and results of operations.</i></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We rely on two major manufacturers,
Zhongshan Raytech and Zhongshan Leimi, which are located in Zhongshan, mainland China. For the year ended March 31, 2024, payments to
Zhongshan Raytech accounted for 88.5% of the total manufacturing costs of the Company. For the year ended March 31, 2023, payments to
each of Zhongshan Raytech and Zhongshan Leimi accounted for 83.1% and 10.4%, respectively, of the total manufacturing costs of the Company.
For the six months ended September 30, 2024, payments to Zhongshan Raytech accounted for 91.5% of the total manufacturing costs of the
Company. For the six months ended September 30, 2023, payments to Zhongshan Raytech accounted for 92.7% of the total manufacturing costs
of the Company. Our significant dependence on these manufacturers, concentrated geographically in mainland China, exposes us to various
risks. We depend on our ability to provide our customers with a wide range of products from our major manufacturers in a timely and efficient
manner. Political and economic instability in the region, global or regional adverse conditions, such as pandemics or other disease outbreaks
or natural disasters, the financial stability of our manufacturers, our manufacturers&#8217; ability to meet our standards, labor problems
experienced by such manufacturers, the availability or cost of raw materials, merchandise quality issues, currency exchange rates, trade
tariff developments, transport availability and cost, including import-related taxes, transport security, inflation, and other factors
relating to manufacturing in mainland China are largely beyond our control. As an example, the COVID-19 pandemic could adversely impact
such manufacturers facilities and operations due to extended holidays, factory closures and risks of labor shortages, among other things,
which may materially and adversely affect our business, financial condition and results of operations. As at the date of this prospectus,
our two major manufacturers, Zhongshan Raytech and Zhongshan Leimi, have not experienced material impacts imposed by the COVID-19 pandemic.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Furthermore, we are unable
to predict whether our manufacturers in the future will be subject to new, different, or additional trade restrictions imposed by the
PRC or foreign governments or the likelihood, type or effect of any such restrictions. Any event causing a disruption or delay of imports
from manufacturers based in mainland China, including the imposition of additional export restrictions, restrictions on the transfer of
funds or increased tariffs or quotas, could increase the cost or reduce the supply of products available to our customers and materially
adversely affect our financial performance as well as our reputation. Furthermore, our manufacturers operations may be adversely affected
by political and financial instability, resulting in the disruption of trade from exporting countries and regions, restrictions on the
transfer of funds or other trade disruptions.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We also are unable to predict
whether our manufacturers in the future will be subject to new, different, or additional trade restrictions imposed by the PRC or foreign
governments or the likelihood, type or effect of any such restrictions. Any event causing a disruption or delay of imports from manufacturers,
including the imposition of additional export restrictions, restrictions on the transfer of funds or increased tariffs or quotas, could
increase the cost or reduce the supply of products available to our customers and materially adversely affect our financial performance
as well as our reputation. Furthermore, our manufacturers operations may be adversely affected by political and financial instability,
resulting in the disruption of trade from exporting countries and regions, restrictions on the transfer of funds or other trade disruptions.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, the economy
of mainland China differs from the economies of most developed countries in many respects, including the extent of government involvement,
its level of development, its growth rate and its control over foreign exchange. In recent years, the government of mainland China has
implemented measures emphasizing market forces for economic reform, the reduction of state ownership of productive assets and the establishment
of sound corporate governance in business enterprises. However, a significant portion of productive assets in mainland China is still
owned by the government of mainland China. The government of mainland China continues to play a significant role in regulating industrial
development. It also exercises significant control over mainland China&#8217;s economic growth through the allocation of resources, controlling
payment of foreign currency-denominated obligations, setting monetary policies, restricting the inflow and outflow of foreign capital
and providing preferential treatment to particular industries or companies. The government of China also has significant authority to
exert influence on the ability of a China-based company, such as our manufacturers, to conduct their business. Any adverse change in the
economic conditions in mainland China, policies of the government or laws and regulations in mainland China could have a material adverse
effect on the overall economic growth of China and, in turn, on the business of our major manufacturers in mainland China. As a result,
we may lose our major manufacturers in mainland China, and we may not have other reliable alternatives or replacements for these manufacturers.
A loss of our major manufacturers in mainland China would have an adverse effect on our business, financial condition and results of operations,
and may cause Raytech Holding&#8217;s Ordinary Shares to significantly decline in value.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Inadequate or inaccurate external and internal information,
including budget and planning data, could lead to inaccurate financial forecasts and inappropriate financial decisions.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our financial forecasts are
dependent on estimates and assumptions regarding budget and planning data, market growth, foreign exchange rates and our ability to generate
sufficient cash flow to reinvest in the business, fund internal growth, and meet our debt obligations. Our financial projections are based
on historical financial data and seasonal effect and on various other assumptions and foreseeable market trend that our management believes
to be reasonable under the circumstances and at the time they are made. However, if our external and internal information is inadequate,
our actual results may differ materially from our forecasts and cause us to make inappropriate financial decisions. Any material variation
between our financial forecasts and our actual results may also adversely affect our future profitability, stock price and shareholder
confidence.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We may not manage our growth effectively, and our profitability
may suffer.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We experience fluctuations in growth rates and across our different
product segments, including periods of rapid or declining growth. While we have experienced expansion overall in the past 10 years, this
growth has not always been uniform across segments or consistent year-over-year. However, to manage growth successfully, we may need to
add qualified managers and employees and periodically update our operating, financial and other systems, as well as our internal procedures
and controls. We also must effectively motivate, train and manage our research and development staff. If we fail to add or retain qualified
managers, employees and contractors when needed, estimate costs, or manage our growth effectively, our business, financial results and
financial condition may suffer.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We cannot assure that we can
successfully manage growth and maintain profitability as we grow. In periods of declining growth, underutilized employees and contractors
may result in expenses and costs representing a greater percentage of revenues. In such situations, we will have to weigh the benefits
of decreasing our workforce or limiting our service offerings and saving costs against the detriment that we could experience from losing
valued professionals and their industry expertise and customers.</p><div>
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</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our reputation is crucial to our business. Any harm to our
reputation or failure to enhance our brand recognition may materially and adversely affect our business, financial condition and results
of operations.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our reputation, which depends
on earning and maintaining the trust and confidence of our current or potential customers, is critical to our business. Our reputation
is vulnerable to many threats that can be difficult or impossible to control, and costly or impossible to remediate. Regulatory inquiries
or investigations, lawsuits initiated by customers or other third parties, employee misconduct, perceptions of conflicts of interest and
rumors, among other things, could substantially damage our reputation, even if they are baseless or satisfactorily addressed. Moreover,
any negative media publicity about our industry in general or product or service quality problems of other firms in the industry, including
our competitors, may also negatively impact our reputation and brand. If we are unable to maintain a good reputation or further enhance
our brand recognition, our ability to attract and retain customers and key employees could be harmed and, as a result, our business and
revenues would be materially and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; text-align: justify; margin: 0pt 0"><i>We may not be able to continue to grow at our historical rate
of growth, and if we fail to manage our growth effectively, our business may be materially and adversely affected.</i></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">We anticipate
continued growth in the foreseeable future. However, past results of operations achieved by us should not be taken as indicative of our
future prospects and results of operations, and we cannot assure you that we will grow at the historical rate of growth, or at all. Our
rapid growth has placed, and will continue to place, a significant strain on our management, personnel, systems and resources. To accommodate
our growth, we will need to implement a variety of new and upgraded operational and systems procedures and controls, including the improvement
of our accounting and other internal management systems. We also will need to recruit, train, manage and motivate employees and manage
our relationships with an increasing number of customers. Moreover, as we introduce new products or enter into new markets, we may face
unfamiliar market and operational risks and challenges which we may fail to successfully address. We may be unable to manage our growth
effectively, which could have a material adverse effect on our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result, you should consider
our future prospects in light of the risks and uncertainties experienced by early stage companies in a rapidly evolving and increasingly
competitive market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b>&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>If we fail to prevent security breaches, improper access to
or disclosure of our data or user data, or other hacking and attacks, we may lose users, and our business, reputation, financial condition
and results of operations may be materially and adversely affected.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We have privacy and data security
policies in place that are designed to prevent security breaches and we are looking for resources to assist us to develop our security
measures against breaches. Although we have not experienced any security breaches or cybersecurity issues, however, as newer technologies
evolve, and the portfolio of the service providers with which the Company shares confidential information with grows, we could be exposed
to increased risk of breaches in security and other illegal or fraudulent acts, including cyberattacks. The evolving nature of such threats,
in light of new and sophisticated methods used by criminals and cyberterrorists, including computer viruses, malware, phishing, misrepresentation,
social engineering and forgery, is making it increasingly challenging to anticipate and adequately mitigate these risks.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are likely in the future
to be subject to these types of attacks. If we are unable to avert these attacks and security breaches, we could be subject to significant
legal and financial liabilities, our reputation would be harmed and we could sustain substantial revenue loss from lost sales and customer
dissatisfaction. We may not have the resources or technical sophistication to anticipate or prevent rapidly evolving types of cyber-attacks.
Cyber-attacks may target us, our manufacturers, customers or other participants, or the internet infrastructure on which we depend. Actual
or anticipated attacks and risks may cause us to incur significantly higher costs, including costs to deploy additional personnel and
network protection technologies, train employees, and engage third-party experts and consultants. As we do not carry cybersecurity insurance,
we will not be able to mitigate such risks to any third party. Cybersecurity breaches would not only harm our reputation and business,
but also could materially decrease our revenue and net income.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We cannot assure you that we could retain effective intellectual
property rights.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We cannot make assurances
that the steps we have taken or will take in the future to protect our intellectual property rights are or will be adequate to deter misappropriation
of proprietary information or that we will be able to detect unauthorized use and take appropriate steps to enforce our intellectual property
rights. As at the date of this prospectus, neither we nor Pure Beauty own any registered trademarks in any jurisdiction. We intend to
register Pure Beauty&#8217;s trademarks in Hong Kong to secure trademark protection after seeking professional advice. However, whilst
registration will usually confirm ownership and subsistence of rights, some registrations can still be challenged due to prior existing
rights. We cannot assure you that in the future our intellectual property rights registrations will be complete or invulnerable.</p><div>

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</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We may be subject to intellectual property infringement claims,
which may be expensive to defend and may disrupt our business and operations.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We cannot be certain that
our operations or any aspects of our business do not or will not infringe upon or otherwise violate trademarks, copyrights, know-how or
other intellectual property rights held by third parties. We may be from time to time in the future subject to legal proceedings and claims
relating to the intellectual property rights of others. In addition, there may be third-party trademarks, copyrights, know-how or other
intellectual property rights that are infringed by our products, services or other aspects of our business without our awareness. Holders
of such intellectual property rights may seek to enforce such rights against us in Hong Kong, the United States or other jurisdictions.
If any third-party infringement claims are brought against us, we may be forced to divert some resources from our business and operations
to defend against these claims, regardless of their merits.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additionally, the application
and interpretation of Hong Kong&#8217;s intellectual property rights laws and the procedures and standards for granting trademarks, copyrights,
know-how or other intellectual property rights in Hong Kong are still evolving and are uncertain, and we cannot ensure that Hong Kong
courts or regulatory authorities would agree with our analysis. If we were found to be in violation of the intellectual property rights
of others, we may be subject to liability for our infringement activities or may be prohibited from using such intellectual property,
and we may incur licensing fees or be forced to develop alternatives of our own. As a result, our business and operating results may be
materially and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As at the date of this prospectus,
we have been using certain trademarks on Pure Beauty&#8217;s daily business operations which are currently registered in Japan and owned
by Mr. Ching (the &#8220;Japan Pure Beauty Trademarks&#8221;). On August 1, 2021, a trademark license agreement was entered into between
us and Mr. Ching (the &#8220;Japan Trademark License Agreement&#8221;), pursuant to which Mr. Ching agreed to irrevocably and unconditionally
grant us, our subsidiaries and branches an exclusive license to use the Japan Pure Beauty Trademarks on a royalty-free basis, for 10 years
commencing from the date of the Japan Trademark License Agreement. There is no guarantee that we will be able to successfully renew the
Japan Trademark License Agreement upon expiration of its current term and that the same will not be revoked or early terminated by Mr.
Ching. In the absence of a valid Japan Trademark License Agreement, the use of the Japan Pure Beauty Trademarks by us or Pure Beauty in
Japan may subject us or Pure Beauty to trademark infringement claims, and we may be forced to divert some resources from our business
and operations to defend against these claims, regardless of their merits. As a result, our business and operating results may be materially
and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Compromise of confidential or proprietary information could
damage our reputation, harm our businesses and adversely impact our financial results.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our own confidential and proprietary
information and that of our customers could be compromised, whether intentionally or unintentionally, by our employees, consultants or
manufacturers. A compromise of the security of our information technology systems leading to theft or misuse of our own or our customers&#8217;
proprietary or confidential information, or the public disclosure or use of such information by others, could result in losses, third-party
claims against us and reputational harm, including the loss of customers. The theft or compromise of our or our customers&#8217; information
could negatively impact our reputation, financial results and prospects. In addition, if our reputation is damaged due to a data security
breach, our ability to attract new engagements and customers may be impaired or we may be subjected to damages or penalties, which could
negatively impact our businesses, financial results or financial condition.</p><div>

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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Increases in labor costs in Hong Kong may adversely affect
our business and results of operations.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The economy in Hong Kong has
experienced increases in inflation and labor costs in recent years. As a result, average wages in Hong Kong are expected to continue to
increase. In addition, we are required by Hong Kong laws and regulations to maintain various statutory employee benefits, including mandatory
provident fund scheme and work-related injury insurance, to provide statutorily required paid sick leave, annual leave and maternity leave,
and pay severance payments or long service payments. The relevant government agencies may examine whether an employer has complied with
such requirements, and those employers who fail to comply commit a criminal offence and may be subject to fines and/or imprisonment. We
expect that our labor costs, including wages and employee benefits, will continue to increase. Unless we are able to control our labor
costs or pass on these increased labor costs to our users by increasing the fees of our services, our financial condition and operating
results may be adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Raytech Holding&#8217;s principal shareholders have substantial
influence over Raytech Holding and their interests may not be aligned with the interests of Raytech Holding&#8217;s other shareholders.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Mr. Ching Tim Hoi is currently
the beneficial owner of 12,800,000 Ordinary Shares or 72.7% of Raytech Holding&#8217;s outstanding Ordinary Shares. Mr. Ching will own
approximately 26.9% of Raytech Holding&#8217;s Ordinary Shares following the offering. Mr. Ching will be able to exert significant voting
influence over Raytech Holding&#8217;s business, including decisions regarding mergers, consolidations and the sale of all or substantially
all of Raytech Holding&#8217;s assets, election of directors and other significant corporate actions. These actions may be taken even
if they are opposed by Raytech Holding&#8217;s other shareholders, including our public shareholders. Moreover, this concentration of
ownership may discourage, delay or prevent a change in control of Raytech Holding, which could deprive Raytech Holding&#8217;s shareholders
of an opportunity to receive a premium for their shares as part of a sale of Raytech Holding and might reduce the price of Raytech Holding&#8217;s
Ordinary Shares.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">We face risks related to natural disasters, health epidemics and
other outbreaks, which could significantly disrupt our operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are vulnerable to natural disasters
and other calamities. Fire, floods, typhoons, earthquakes, power loss, telecommunications failures, break-ins, wars, riots, terrorist
attacks or similar events may give rise to supply chain disruptions, shipment delays, manufacturing breakdowns, and demand shifts, which
could cause adversely affect our ability to provide products and services to our customers. In addition, our results of operations could
be adversely affected to the extent that any health epidemic harms the Hong Kong economy in general. A prolonged outbreak of any illnesses
or other adverse public health developments in Hong Kong or elsewhere in the world could have a material adverse effect on our business
operations. Such outbreaks could severely disrupt our operations and adversely affect our business, financial condition and results of
operations. Our headquarters are located in Hong Kong, where our management and employees currently reside. Consequently, if any natural
disasters, health epidemics or other public safety concerns were to affect Hong Kong or cause travel restriction in or out of Hong Kong
or its surrounding areas, our operation may experience material disruptions, which may materially and adversely affect our business, financial
condition and results of operations. On February 24, 2022, the Russian Federation launched an invasion of Ukraine that has had an immediate
impact on the global economy resulting in higher energy prices and higher prices for certain raw materials and goods and services which
in turn is contributing to higher inflation in the United States and other countries across the globe with significant disruption to financial
markets. We do not have any operation or business in Russia or Ukraine, however, we may potentially be indirectly adversely impacted any
significant disruption it has caused and may continue to escalate. Any one or more of these events may impede our operation and delivery
efforts and adversely affect our sales results, or even for a prolonged period of time, which could materially and adversely affect our
business, financial condition, and results of operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Failure to comply with laws and regulations applicable to our
business could subject us to fines and penalties and could also cause us to lose customers or otherwise harm our business.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Our
business is subject to regulation by various governmental agencies in Hong Kong, including agencies responsible for monitoring and enforcing
compliance with various legal obligations, such as intellectual property laws, employment and labor laws, workplace safety, governmental
trade laws, import and export controls, anti-corruption and anti-bribery laws, and tax laws and regulations. In certain jurisdictions,
these regulatory requirements may be more stringent than in Hong Kong. These laws and regulations impose added costs on our business.
Noncompliance with applicable regulations or requirements could subject us to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><span style="font-size: 10pt">investigations, enforcement actions, and sanctions; </span></td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                                                                 </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><span style="font-size: 10pt">mandatory changes to our network and products;</span></td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                                                           </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><span style="font-size: 10pt">disgorgement of profits, fines, and damages;</span></td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                                                         </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><span style="font-size: 10pt">civil and criminal penalties or injunctions;</span></td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                                                         </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><span style="font-size: 10pt">claims for damages by our customers or channel partners;</span></td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                                                                     </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><span style="font-size: 10pt">termination of contracts;</span></td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                                                                                                                                                      </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><span style="font-size: 10pt">failure to obtain, maintain or renew certain licenses, approvals, permits,
registrations or filings necessary to conduct our operations; and</span></td></tr><tr style="vertical-align: top">
<td>&#160;</td><td>&#160;</td><td style="text-align: justify">&#160;</td></tr>
                                                                                  </table><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify"><span style="font-size: 10pt">temporary or permanent debarment from sales to public service organizations.</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">If
any governmental sanctions are imposed, or if we do not prevail in any possible civil or criminal litigation, our business, results of
operations, and financial condition could be adversely affected. In addition, responding to any action will likely result in a significant
diversion of our management&#8217;s attention and resources and an increase in professional fees. Enforcement actions and sanctions could
materially harm our business, results of operations, and financial condition.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Any
reviews by regulatory agencies or legislatures may result in substantial regulatory fines, changes to our business practices, and other
penalties, which could negatively affect our business and results of operations. Changes in social, political, and regulatory conditions
or in laws and policies governing a wide range of topics may cause us to change our business practices. Further, our expansion into a
variety of new fields also could raise a number of new regulatory issues. These factors could negatively affect our business and results
of operations in material ways.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Moreover,
we are exposed to the risk of misconduct, errors and failure to functions by our management, employees and parties with whom we collaborate,
who may from time to time be subject to litigation and regulatory investigations and proceedings or otherwise face potential liability
and penalties in relation to noncompliance with applicable laws and regulations, which could harm our reputation and business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt; background-color: white">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Members of our management team may in the future be involved
in governmental investigations and civil litigations relating to the business affairs of companies with which they are, were or may in
the future be affiliated with.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Members of our management
team may in the future be involved in governmental investigations and civil litigations relating to the business affairs of companies
with which they are, were or may in the future be affiliated with. Any such investigations or litigations may divert our management team&#8217;s
attention and resources away from managing our business affairs and operations, may be detrimental to our reputation, and thus may negatively
affect our business and financial performance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>If Raytech Holding becomes directly subject to the recent scrutiny,
criticism and negative publicity involving U.S.-listed Chinese companies, we may have to expend significant resources to investigate and
resolve the matter, which could harm our business operations, stock price and reputation and could result in a loss of your investment
in Raytech Holding&#8217;s stock, especially if such matter cannot be addressed and resolved favorably.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Recently, U.S. public companies
that have substantially all of their operations in China, including Hong Kong, have been the subject of intense scrutiny, criticism and
negative publicity by investors, financial commentators and regulatory agencies, such as the SEC. Much of the scrutiny, criticism and
negative publicity has centered around financial and accounting irregularities and mistakes, a lack of effective internal controls over
financial accounting, inadequate corporate governance policies or a lack of adherence thereto and, in many cases, allegations of fraud.
As a result of the scrutiny, criticism and negative publicity, the publicly traded stock of many U.S. listed Chinese companies has sharply
decreased in value and, in some cases, has become virtually worthless. Many of these companies are now subject to shareholder lawsuits
and SEC enforcement actions and are conducting internal and external investigations into the allegations. It is not clear what effect
this sector-wide scrutiny, criticism and negative publicity will have on Raytech Holding, its business and its stock price. Although substantially
all of our operations are based in Hong Kong and none of our customers are based in mainland China, if Raytech Holding becomes the subject
of any unfavorable allegations, whether such allegations are proven to be true or untrue, we will have to expend significant resources
to investigate such allegations and/or defend our company. This situation will be costly and time consuming and distract our management
from growing our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>If we fail to compete effectively, we may miss new business
opportunities or lose existing customers, and our revenues and profitability may decline.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The market for some of our
products is highly competitive. We do not compete against the same companies for all of our products and services or in all geographic
regions. Instead, we compete with different companies or depending on the particular types of requested products and services and the
location of the customer or delivery of the products and services. Our operations are highly competitive.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our competitors include large
organizations, such as the international personal care electronic design and development organizations, which offer niche products and
services that are the same or similar to products or services offered by us; and small firms and independent contractors that focus on
specialized products and services. Some of our competitors have significantly more financial resources, a larger national or international
presence, larger professional staffs and greater brand recognition than we do. Some have lower overhead and other costs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If we cannot compete effectively
or if the costs of competing, including the costs of hiring and retaining professionals, become too expensive, our revenue growth and
financial results could be negatively affected and may differ materially from our expectations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>If we are unable to rely on the services and connections of
our key personnel, or retain the current key personnel, our business could be adversely affected.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our growth has been heavily
dependent on the services provided by our management team. They manage our business operation, develop and execute our business strategies
and manage the relationship with our key product manufacturers and corporate customers. Therefore, our future success relies on our ability
to retain the services of these key management personnel. If any of these key personnel are unable or unwilling to continue to provide
services to us, and we are unable to find suitable replacements, we may not be able to continue our operations effectively and efficiently,
and our business and financial conditions could be adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Certain of our officers or directors may have actual or potential
conflicts of interest because of their equity interests in or positions with Raytech Holdings Company Limited and Zhongshan Raytech.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding&#8217;s CEO
and Chairman, Mr. Ching, and Raytech Holding&#8217;s director and the Assistant to CEO of Pure Beauty, Mr. Ling, currently serve as, and
will continue to serve as (i) Executive Director and Supervisor respectively of one of our collaborating manufacturers, Zhongshan Raytech,
and (ii) Director and Assistant to CEO respectively of Raytech Holdings Company Limited. Mr. Ching&#8217;s positions at and ownership
of Zhongshan Raytech and Raytech Holdings Company Limited, and Mr. Ling&#8217;s positions at Zhongshan Raytech and Raytech Holdings Company
Limited, on which we rely for manufacturing collaboration, create, or may create the appearance of, conflicts of interest when these officers
or directors are faced with decisions that could have different implications for Zhongshan Raytech and Raytech Holdings Company Limited
than for us. These potential conflicts could arise, for example, over matters such as the desirability of changes in our business and
operations, funding and capital matters, regulatory matters, and contractual arrangements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our employees may leave to form or join competitors, and we
may not have, or may choose not to pursue, legal recourse against such professionals.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our employees typically have
close relationships with the customers they serve, based on their expertise and bonds of personal trust and confidence. Therefore, the
barriers to our employees pursuing independent business opportunities or joining our competitors should be considered low. Although our
customers generally contract for services with us as a company, and not with an individual employee, in the event that an employee leaves,
such customers may decide that they prefer to continue working with a specific person rather than with us. In the event an employee departs
and acts in a way that we believe violates his or her non-competition or non-solicitation agreement, we will consider any legal remedies
we may have against such person on a case-by-case basis. We may decide that preserving cooperation and a professional relationship with
a former employee or customer, or other concerns, outweighs the benefits of any possible legal recourse. We may also decide that the likelihood
of success does not justify the costs of pursuing a legal remedy. Therefore, there may be times we may decide not to pursue legal action,
even if it is available to us.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our business and sales are subject to the business strategies
of the brand owners.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the years ended March
31, 2024 and March 31, 2023 and six months ended September 30, 2024 and, September 30, 2023, our revenue was attributed to sales of branded
products sourced from brand owners by our customers in Japan, U.S., Europe and Australia. Our business and sales are heavily dependent
on the market receptiveness of, and demand for, the products being provided by various brand owners. The overall business strategies and
product development plans adopted by these brand owners and their ability to maintain and develop the brands are therefore essential to
our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As we have limited or no influence
on the decisions made by the brand owners in relation to their business strategies, in particular, the production of their existing products
and development of new products, we cannot assure that the brand owners will be able to maintain and further develop their brands and/or
products, or that our customers will continue to show preferences to their brands and/or products. If the strategies of the brand owners
turn out to be unsuccessful or due to any other reasons the marketability of the brands falls substantially, the profitability of our
business would be materially and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We cannot assure that our products can meet consumer preferences
and needs, and will continue to gain market acceptance and secure market share.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We sell and distribute a variety
of beauty device products to the general public through our customers&#8217; sales network. The general acceptance by consumers of the
brands and products designed and provided by us is of vital importance to our success and it hinges on a number of factors such as brand
image, product quality and customer loyalty. Our success also depends, to a large extent, on our ability to offer a diversified portfolio
of products that can meet the changing consumer preferences and needs. There is no assurance that the existing products designed and provided
by us will be able to satisfy changes in consumer preferences and needs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We may also fail to anticipate,
identify or respond to the constant changes in relation to consumer preferences and needs on a timely basis, nor can we assure that we
will be able to gain or increase market receptiveness and market share for our products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Consumer preferences and needs
for products and brands can change from time to time for various reasons, including negative publicity regarding our products, emergence
of competitive products and brands, or a general decrease in demand for the beauty device products distributed and sold us. Any of these
events could adversely affect our competitive advantage and market share, which in turn could materially and adversely affect our business,
financial condition and results of operation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We rely on external manufacturers for production of all of
our products.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not have any production
facilities or production lines of our own. Our products are sourced from related and independent external manufacturers in mainland China.
For the year ended March 31, 2023, payments to each of Zhongshan Raytech and Zhongshan Leimi accounted for 83.1% and 10.4%, respectively,
of the total manufacturing costs of the Company. For the year ended March 31, 2024, payments to Zhongshan Raytech accounted for 88.5%
of the total manufacturing costs of the Company. For the six months ended September 30, 2023, payments to Zhongshan Raytech accounted
for 92.7% of the total manufacturing costs of the Company. For the six months ended September 30, 2024, payments to Zhongshan Raytech
accounted for 91.5% of the total manufacturing costs of the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our control over these external
manufacturers in respect of their production process and quality of products is limited. We cannot assure that (i) there will not be any
unexpected interruption of supply of products by these external manufacturers due to any reason beyond our control or expectation, such
as introduction of new regulatory requirements, import restrictions, revocation of business licenses, power interruptions, fires or other
force majeure; or (ii) the products provided to us by these external manufacturers can meet our quality requirements. Any such problems
in relation to the supply of our products by external manufacturers could have a material adverse impact on our business.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our operating results may fluctuate due to seasonality and
other factors.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our sales are subject to certain
degree of seasonal fluctuations. Generally, demand for our beauty device products is relatively higher during the spring season from March
to June. Sales may also fluctuate during the course of a fiscal year for a number of other reasons, including the timing of launching
new products and advertising and promotional campaigns. As a result, these seasonal consumption patterns may cause our operating results
to fluctuate from period to period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We may be unable to maintain growth and implement our
future plans.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our future business growth
primarily depends on the successful implementation of our business objectives, business strategies and future plans. These business objectives
are based on our existing plans and intentions, most of which are at initial stages and have not been proceeded to the stage of actual
implementation and are therefore subject to high degree of risks and uncertainties. Furthermore, we may not be able to achieve the projected
growth and expansion of our business due to factors which are beyond our control, such as changes in economic environment, market demands,
government policies and relevant laws and regulations. As such, there is no assurance that our business objectives, business strategies
and future plans will be accomplished, whether in whole or in part or be implemented within the estimated timeline. In the event that
our future plans are not implemented and our business objectives are not accomplished, our business, profitability and financial positions
in the future may be materially and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Furthermore, our future business
plans may be hindered by other factors beyond our control, such as competition from other retailers and distributors selling similar products.
Therefore, there is no assurance that our future business plans will materialize, or result in the conclusion or execution of any agreement
within the planned time frame, or that our objectives will be fully or partially accomplished.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>A severe or prolonged downturn in the Chinese or global economy
could materially and adversely affect our business and financial condition.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Any  slowdown in
the Chinese or global economy may have a negative impact on our business, results of operations and financial condition. There is uncertainty
over the global economic condition such as the trade war between the United States and China. There is considerable uncertainty over the
long-term effects of the expansionary monetary and fiscal policies adopted by the central banks and financial authorities of some of the
world&#8217;s leading economies, including the United States and China. There have also been concerns about the economic effect of the
tensions in the relationship between China and surrounding Asian countries. Adverse economic conditions could also reduce the number of
customers and interests in our services and products. Should any of these situations occur, our net revenues will decline, and our business
and financial conditions will be negatively impacted. Additionally, continued turbulence in the international markets may adversely affect
our ability to access the capital markets to meet liquidity needs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Changes in U.S. and international trade policies, particularly
with regard to China, may adversely impact our business and operating results.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The U.S. government has recently made statements and taken certain
actions that may lead to potential changes to U.S. and international trade policies. For example, on October 28, 2024, the U.S. Department
of the Treasury issued a final rule on outbound investment to implement the executive order of August 9, 2023. The final rule became effective
on January 2, 2025. The final rule imposes investment prohibition and notification requirements on U.S. persons for a wide range of investments
in entities associated with China (including Hong Kong and Macau) that are engaged in activities relating to three sectors: (i) semiconductors
and microelectronics, (ii) quantum information technologies, and (iii) artificial intelligence systems, collectively defined as Covered
Foreign Persons. U.S. persons subject to the final rule are prohibited from making, or required to report, certain investments in Covered
Foreign Persons, which are defined as Covered Transactions. If we were to be deemed a Covered Foreign Person due to changes in our business
operations or amendments to relevant laws and regulations, our ability to raise capital would be significantly and negatively affected.
In such case, the trading price of the Ordinary Shares may be materially and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the U.S. has
imposed significant tariffs on a wide range of goods imported from China and could impose additional tariffs or increase existing ones.
The U.S. government has also implemented export control restrictions affecting certain products and technologies related to China, imposed
certain sanctions and restrictions, and indicated the potential for enhanced review of companies with significant China-based operations
or restrictions on U.S. investment in certain companies operating in China. Furthermore, policies regarding low-value shipments entering
the U.S. are under scrutiny, and changes could impact the cost-effectiveness of certain imports from China. The Chinese government has,
from time to time, responded, and may continue to respond, by imposing its own tariffs, trade restrictions, or other regulations. Our
business and financial performance are substantially dependent on the general conditions of the global economy and the level of international
trade and commerce, particularly between the U.S. and China. The adoption and expansion of trade restrictions, tariffs, quotas, embargoes,
sanctions, export controls, investment restrictions, the occurrence of a trade war, or other governmental actions related to tariffs or
trade agreements or policies by the U.S., China, or other countries, has the potential to adversely impact trade flows, costs, our suppliers,
our customers, and the world economy in general. Current and future trade tensions, geopolitical events, and international trade disputes
could harm or disrupt international commerce and the global economy. These factors could have a material adverse effect on our business,
results of operations, and financial condition.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify"><b><i>Our results of operations may be adversely affected
by significant share-based compensation expenses, and the issuance of shares under our equity incentive plans will dilute existing shareholders</i></b></p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To attract, retain, and motivate highly skilled employees,
directors, and consultants, which is critical in a competitive talent market, we utilize share-based</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">awards. Consequently, on September 24,
2024, our Board of Directors adopted, and on October 23, 2024, our shareholders approved, the 2024 Equity Incentive Plan (the &#8220;2024
Plan&#8221;). The 2024 Plan, which has a ten-year term and authorizes the issuance of up to 2,500,000 of our ordinary shares, allows for
the grant of various types of equity awards, including Incentive Share Options, Non-statutory Share Options, Restricted Shares, Restricted
Share Units, Share Appreciation Rights, Performance Units, and Performance Shares. While these awards are intended to promote our long-term
success and align interests with shareholder value, they require us to recognize share-based compensation expenses in our consolidated
financial statements.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Significant share-based compensation expenses
could materially and adversely affect our reported net income (or increase our net loss). Furthermore, any issuance of ordinary shares
upon the exercise of options or the vesting of other equity awards granted under the 2024 Plan or any future equity incentive plans will
result in the dilution of the ownership interests of our existing shareholders, which could also adversely affect the market price of
our ordinary shares.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risks Related to Our Corporate Structure</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in"><i>Raytech Holding may rely on dividends and other distributions on equity
paid by its subsidiaries to fund any cash and financing requirements it may have, and any limitation on the ability of Raytech Holding&#8217;s
subsidiary to make payments to it could have a material adverse effect on Raytech Holding&#8217;s ability to conduct its business.</i>

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is a holding
company incorporated in the British Virgin Islands, and it may rely on dividends and other distributions on equity paid by its subsidiaries
for its cash and financing requirements, including the funds necessary to pay dividends and other cash distributions to Raytech Holding&#8217;s
shareholders and service any debt it may incur. If any of Raytech Holding&#8217;s subsidiary incurs debt on its own behalf in the future,
the instruments governing the debt may restrict its ability to pay dividends or make other distributions to Raytech Holding.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the current practice
of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid to us. See &#8220;<i>Taxation
&#8212; Hong Kong Profits Taxation&#8221; </i>on page 121 of this prospectus. Any limitation on the ability of Raytech Holding&#8217;s
Hong Kong subsidiaries to pay dividends or make other distributions to Raytech Holding could materially and adversely limit our ability
to grow, make investments or acquisitions that could be beneficial to Raytech Holding&#8217;s business, pay dividends, or otherwise fund
and conduct its business.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Raytech Holding&#8217;s lack of effective internal controls
over financial reporting may affect its ability to accurately report its financial results or prevent fraud, which may affect the market
for and price of Raytech Holding&#8217;s Ordinary Shares.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To implement Section 404 of
the Sarbanes-Oxley Act of 2002, the SEC adopted rules requiring public companies to include a report of management on the company&#8217;s
internal control over financial reporting. Prior to the IPO, Raytech Holding was a private company with limited accounting personnel and
other resources for addressing Raytech Holding&#8217;s internal control over financial reporting. Raytech Holding&#8217;s management has
not completed an assessment of the effectiveness of Raytech Holding&#8217;s internal control over financial reporting and its independent
registered public accounting firm has not conducted an audit of Raytech Holding&#8217;s internal control over financial reporting. However,
in connection with the audits of Raytech Holding&#8217;s consolidated financial statements as of March 31, 2023 and 2024, Raytech Holding
and its independent registered public accounting firm identified material weaknesses in Raytech Holding&#8217;s internal control over
financial reporting as well as other control deficiencies for the above mentioned periods. As defined in the standards established by
the PCAOB, a &#8220;material weakness&#8221; is a deficiency, or a combination of deficiencies, in internal control over financial reporting,
such that there is a reasonable possibility that a material misstatement of Raytech Holding&#8217;s annual or interim financial statements
will not be prevented or detected on a timely basis. The material weakness identified related to i) inadequate segregation of duties for
certain key functions due to limited staff and resources; ii) a lack of sufficient financial reporting and accounting personnel with appropriate
knowledge of U.S. GAAP and SEC reporting requirements to formalize key controls over financial reporting and to prepare consolidated financial
statements and related disclosures; and iii) a lack of independent directors and an audit committee to establish formal risk assessment
process and internal control framework.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In connection with its IPO,
Raytech Holding appointed independent directors, established an audit committee and strengthened corporate governance. In addition, Raytech
Holding is actively implementing other measures designed to improve its internal control over financial reporting to address the underlying
causes of these material weaknesses, including <span style="background-color: white">i) hiring more qualified staff to fill up the key
roles in the operations; and ii) setting up a financial and system control framework with formal documentation of polices and controls
in place</span>.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a public company, Raytech
Holding is subject to the requirement that it maintains internal controls and that management performs periodic evaluation of the effectiveness
of the internal controls. Effective internal control over financial reporting is important to prevent fraud. As a result, Raytech Holding&#8217;s
business, financial condition, results of operations and prospects, as well as the market for and trading price of Raytech Holding&#8217;s
Ordinary Shares, may be materially and adversely affected if Raytech Holding does not have effective internal controls. The absence of
internal controls over financial reporting may inhibit investors from purchasing Raytech Holding&#8217;s Ordinary Shares and may make
it more difficult for Raytech Holding to raise funds in a debt or equity financing.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Additional material weaknesses
or significant deficiencies may be identified in the future. If Raytech Holding identifies such issues or if Raytech Holding is unable
to produce accurate and timely financial statements, its stock price may decline and it may be unable to maintain compliance with the
Nasdaq Listing Rules.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>If Raytech Holding ceases to qualify as a foreign private issuer,
it would be required to comply fully with the reporting requirements of the Exchange Act applicable to U.S. domestic issuers, and it would
incur significant additional legal, accounting and other expenses that it would not incur as a foreign private issuer.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a foreign private issuer,
Raytech Holding is exempt from the rules under the Exchange Act prescribing the furnishing and content of proxy statements, and Raytech
Holding&#8217;s officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions
contained in Section 16 of the Exchange Act. In addition, Raytech Holding is not be required under the Exchange Act to file periodic reports
and financial statements with the SEC as frequently or as promptly as United States domestic issuers, and it will not be required to disclose
in its periodic reports all of the information that United States domestic issuers are required to disclose. However, Raytech Holding
may cease to qualify as a foreign private issuer in the future.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Raytech Holding is an &#8220;emerging growth company&#8221;
within the meaning of the Securities Act, and if Raytech Holding takes advantage of certain exemptions from disclosure requirements available
to emerging growth companies, this could make it more difficult to compare Raytech Holding&#8217;s performance with other public companies</i>.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is an &#8220;emerging
growth company&#8221; within the meaning of the Securities Act, as modified by the JOBS Act. Section 102(b)(1) of the JOBS Act exempts
emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that
is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered
under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company
can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but
any such election to opt out is irrevocable. Raytech Holding has elected not to opt out of such extended transition period, which means
that when a standard is issued or revised, and it has different application dates for public or private companies, Raytech Holding, as
an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This
may make comparison of Raytech Holding&#8217;s financial statements with another public company which is neither an emerging growth company
nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential
differences in accounting standards used. If some investors find Raytech Holding&#8217;s Ordinary Shares less attractive as a result,
there may be a less active trading market for Raytech Holding&#8217;s Ordinary Shares and Raytech Holding&#8217;s share price may be more
volatile.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Raytech Holding incurs increased costs as a result of being
a public company which will increase after Raytech Holding ceases to qualify as an &#8220;emerging growth company.&#8221;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding incurs significant
legal, accounting and other expenses as a public company that Raytech Holding did not incur as a private company. The Sarbanes-Oxley Act
of 2002, as well as rules subsequently implemented by the SEC, impose various requirements on the corporate governance practices of public
companies. Raytech Holding is an &#8220;emerging growth company,&#8221; as defined in the JOBS Act and will remain an emerging growth
company until the earlier of (1) the last day of the fiscal year (a) following the fifth anniversary of the completion of the public initial
offering of the Company, (b) in which we have total annual gross revenue of at least $1.235 billion, or (c) in which we are deemed to
be a large accelerated filer, which means the market value of Raytech Holding&#8217;s Ordinary Shares that is held by non-affiliates exceeds
$700 million as of the prior fiscal year end, and (2) the date on which Raytech Holding has issued more than $1.0 billion in non-convertible
debt during the prior three-year period. An emerging growth company may take advantage of specified reduced reporting and other requirements
that are otherwise applicable generally to public companies. These provisions include exemption from the auditor attestation requirement
under Section 404 in the assessment of the emerging growth company&#8217;s internal control over financial reporting and permission to
delay adopting new or revised accounting standards until such time as those standards apply to private companies.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Compliance with these rules
and regulations increases Raytech Holding&#8217;s legal and financial compliance costs and makes some corporate activities more time-consuming
and costly. After Raytech Holding is no longer an &#8220;emerging growth company,&#8221; or until five years following the completion
of Raytech Holding&#8217;s initial public offering, whichever is earlier, Raytech Holding expects to incur significant expenses and devote
substantial management effort toward ensuring compliance with the requirements of Section 404 and the other rules and regulations of the
SEC. For example, as a public company, Raytech Holding is required to have independent directors and adopt policies regarding internal
controls and disclosure controls and procedures. Raytech Holding may incur additional costs in obtaining director and officer liability
insurance. In addition, Raytech Holding incurs additional costs associated with its public company reporting requirements. Raytech Holding
cannot predict or estimate with any degree of certainty the amount of additional costs it incur as a public company or the timing of such
costs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risks Related to Doing Business in Hong Kong</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>All of Pure Beauty&#8217;s operations
are in Hong Kong. However, due to the long arm provisions under the current laws and regulations of mainland China, the government of
mainland China may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our
operations at any time, which could result in a material change in our operations and/or the value of Raytech Holding&#8217;s Ordinary
Shares. The government of mainland China may also intervene or impose restrictions on Raytech Holding&#8217;s ability to move money out
of Hong Kong to distribute earnings and pay dividends or to reinvest in our business outside of Hong Kong. Changes in the policies, regulations,
rules, and the enforcement of laws of the government of mainland China may also be quick with little advance notice and our assertions
and beliefs of the risk imposed by the legal and regulatory system of mainland China cannot be certain.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are not based in mainland
China and do not have operations in mainland China except that our manufacturers are located in mainland China. We currently do not have
or intend to set up any subsidiary in mainland China, or do not foresee the need to enter into any contractual arrangements with a VIE
to establish a VIE structure in mainland China. For the six months ended September 30, 2024, and September 30, 2023 and the fiscal years
ended March 31, 2024, and 2023, we generated all our revenues from Hong Kong.</p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As advised by our PRC counsel, AllBright Law Offices (Fuzhou), as of
the date of this prospectus, on the basis that (i) we currently do not have or intend to set up any subsidiary or VIE structure in mainland
China, and we do not have any business operations in mainland China, except that we collaborate with manufacturers located in mainland
China to manufacture our products, (iii) none of our and our subsidiaries&#8217; clients are located in mainland China, and (iv) we and
our subsidiary possess personal information of less than 1 million individuals in the PRC (for the purpose of this subsection (iv), including
the special administrative regions of Hong Kong and Macau and Taiwan), and do not possess any core data or important data of the PRC or
any information which affects or may affect national security of the PRC, we do not expect to be materially affected by recent statements
by the government of mainland China indicating an intent to exert more oversight and control over offerings that are conducted overseas
and/or foreign investment in mainland China-based issuers. However, due to long arm provisions under the current laws and regulations
of mainland China, there remains regulatory uncertainty with respect to the implementation and interpretation of laws and regulations
in mainland China.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pursuant to the Basic Law,
which is a national law of the PRC and the constitutional document for Hong Kong, national laws of the PRC shall not be applied in Hong
Kong except for those listed in Annex III of the Basic Law and applied locally by promulgation or local legislation. The Basic Law expressly
provides that the national laws of the PRC which may be listed in Annex III of the Basic Law shall be confined to those relating to defense
and foreign affairs as well as other matters outside the autonomy of Hong Kong. The basic policies of the PRC regarding Hong Kong as a
special administrative region of the PRC are reflected in the Basic Law, providing Hong Kong with a high degree of autonomy and executive,
legislative and independent judicial powers, including that of final adjudication under the principle of &#8220;one country, two systems&#8221;.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">However, as the government
of mainland China may choose to exercise significant oversight and discretion, and the policies, regulations, rules, and the enforcement
of laws of the government of mainland China to which we are subject may change rapidly and with little advance notice to us or our shareholders.
As a result, the application, interpretation, and enforcement of new and existing laws and regulations in mainland China are often uncertain.
In addition, these laws and regulations may be interpreted and applied inconsistently by different agencies or authorities, and may be
inconsistent with our current policies and practices. New laws, regulations, and other government directives in mainland China may also
be costly to comply with, and such compliance or any associated inquiries or investigations or any other government actions may:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">delay or impede our development;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">result in negative publicity or increase our operating costs;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">require significant management time and attention; and/or</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">subject us to remedies, administrative penalties and even criminal liabilities that may harm our business,
including fines assessed for our current or historical operations, or demands or orders that we modify or even cease our business practices.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are aware that recently,
the government of mainland China initiated a series of regulatory actions and statements to regulate business operations in certain areas
in mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision
over mainland China-based companies listed overseas using variable interest entity structure, adopting new measures to extend the scope
of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. Since these statements and regulatory actions are new,
it is highly uncertain how soon legislative or administrative regulation making bodies will respond and what existing or new laws or regulations
or detailed implementations and interpretations will be modified or promulgated, if any, and the potential impact such modified or new
laws and regulations will have on our daily business operation, the ability to accept foreign investments and list on a U.S. or other
foreign exchange.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The PRC government may intervene
or influence our operations at any time or may exert control over offerings conducted overseas and foreign investment in Hong Kong-based
issuers, which may result in a material change in our operations and/or the value of Raytech Holding&#8217;s Ordinary Shares. For example,
there is currently no restriction or limitation under the laws of Hong Kong on the conversion of HK dollar into foreign currencies and
the transfer of currencies out of Hong Kong and the laws and regulations of the PRC on currency conversion control do not currently have
any material impact on the transfer of cash between Raytech Holding, the ultimate holding company, and Pure Beauty, the wholly-owned operating
subsidiary in Hong Kong. However, the PRC government may, in the future, impose restrictions or limitations on our ability to move money
out of Hong Kong to distribute earnings and pay dividends to and from the other entities within our organization or to reinvest in our
business outside of Hong Kong. Such restrictions and limitations, if imposed in the future, may delay or hinder the expansion of our business
outside of Hong Kong and may affect our ability to receive funds from Pure Beauty. The promulgation of new laws or regulations, or the
new interpretation of existing laws and regulations, in each case, that restrict or otherwise unfavorably impact the ability or way we
conduct our business, could require us to change certain aspects of our business to ensure compliance, which could decrease demand for
our products and services, reduce revenues, increase costs, require us to obtain more licenses, permits, approvals or certificates, or
subject us to additional liabilities. To the extent any new or more stringent measures are required to be implemented, our business, financial
condition and results of operations could be adversely affected and such measures could materially decrease the value of Raytech Holding&#8217;s
Ordinary Shares, potentially rendering it worthless.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>The enactment of Law of the PRC on Safeguarding National Security in
the Hong Kong Special Administrative Region (the &#8220;Hong Kong National Security Law&#8221;) could impact our Hong Kong subsidiaries.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On June 30, 2020, the Standing Committee of the PRC National People&#8217;s
Congress adopted the Hong Kong National Security Law. This law defines the duties and government bodies of the Hong Kong National Security
Law for safeguarding national security and four categories of offences&#8201;&#8212;&#8201;secession, subversion, terrorist activities,
and collusion with a foreign or overseas force to endanger national security&#8201;&#8212;&#8201;and their corresponding penalties.
On July 14, 2020, the former U.S. President Donald Trump signed the Hong Kong Autonomy Act (the &#8220;HKAA&#8221;), into law, authorizing
the U.S. administration to impose blocking sanctions against individuals and entities who are determined to have materially contributed
to the erosion of Hong Kong&#8217;s autonomy. On August 7, 2020 the U.S. government imposed HKAA-authorized sanctions on eleven individuals,
including former and current HKSAR chief executives Carrie Lam and John Lee. On October 14, 2020, the U.S. State Department submitted
to relevant committees of Congress the report required under HKAA, identifying persons materially contributing to &#8220;the failure of
the Government of China to meet its obligations under the Joint Declaration or the Basic Law.&#8221; The HKAA further authorizes secondary
sanctions, including the imposition of blocking sanctions, against foreign financial institutions that knowingly conduct a significant
transaction with foreign persons sanctioned under this authority. The imposition of sanctions may directly affect the foreign financial
institutions as well as any third parties or customers dealing with any foreign financial institution that is targeted. It is difficult
to predict the full impact of the Hong Kong National Security Law and HKAA on Hong Kong and companies located in Hong Kong. If our Hong
Kong subsidiaries are determined to be in violation of the Hong Kong National Security Law or the HKAA by competent authorities, our business
operations, financial position and results of operations could be materially and adversely affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The PRC government may intervene
or influence our operations at any time or may exert more control over offerings conducted overseas and foreign investment in China-based
issuers, which may result in a material change in our operations and/or the value of Raytech Holding&#8217;s Ordinary Shares. Additionally,
the governmental and regulatory interference could significantly limit or completely hinder Raytech Holding&#8217;s ability to offer or
continue to offer securities to investors and cause the value of such securities to significantly decline or be worthless.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>There are political risks associated with conducting business
in Hong Kong.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Substantially all our operations
are based in Hong Kong. Accordingly, our business operations and financial condition will be affected by the political and legal developments
in Hong Kong. During the period covered by the financial information included in this prospectus, we derive substantially all of our revenue
from operations in Hong Kong. Any adverse economic, social and/or political conditions, material social unrest, strike, riot, civil disturbance
or disobedience, as well as significant natural disasters, may adversely affect our business operations. Hong Kong is a special administrative
region of the PRC and the basic policies of the PRC regarding Hong Kong are reflected in the Basic Law, namely, Hong Kong&#8217;s constitutional
document, which provides Hong Kong with a high degree of autonomy and executive, legislative and independent judicial powers, including
that of final adjudication under the principle of &#8220;one country, two systems&#8221;. However, there is no assurance that there will
not be any changes in the economic, political and legal environment in Hong Kong in the future. Since a substantial part of our operations
is based in Hong Kong, any change of such political arrangements may pose an immediate threat to the stability of the economy in Hong
Kong, thereby directly and adversely affecting our results of operations and financial position.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the PRC attempts to alter
its agreement to allow Hong Kong to function autonomously, this could potentially impact Hong Kong&#8217;s common law legal system and
may in turn bring about uncertainty in, for example, the enforcement of our contractual rights. This could, in turn, materially and adversely
affect our business and operations. Additionally, intellectual property rights and confidentiality protections in Hong Kong may not be
as effective as in the United States or other countries. Accordingly, we cannot predict the effect of future developments in the Hong
Kong legal system, including the promulgation of new laws, changes to existing laws or the interpretation or enforcement thereof, or the
preemption of local regulations by national laws. These uncertainties could limit the legal protections available to us, including our
ability to enforce our agreements with our customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Basic Law of the
Hong Kong Special Administrative Region of PRC, Hong Kong is exclusively in charge of its internal affairs and external relations, while
the government of the PRC is responsible for its foreign affairs and defense. As a separate customs territory, Hong Kong maintains and
develops relations with foreign states and regions. Based on certain recent developments including the Law of the People&#8217;s Republic
of China on Safeguarding National Security in the Hong Kong Special Administrative Region issued by the Standing Committee of the PRC
National People&#8217;s Congress in June 2020, the U.S. State Department has indicated that the United States no longer considers Hong
Kong to have significant autonomy from China and President Trump signed an executive order and the HKAA to remove Hong Kong&#8217;s preferential
trade status and to authorize the U.S. administration to impose blocking sanctions against individuals and entities who are determined
to have materially contributed to the erosion of Hong Kong&#8217;s autonomy. The United States may impose the same tariffs and other trade
restrictions on exports from Hong Kong that it places on goods from mainland China. These and other recent actions may represent an escalation
in political and trade tensions involving the U.S, mainland China and Hong Kong, which could potentially harm our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our revenue is susceptible
to the ongoing incidents or factors which affect the stability of the social, economic and political conditions in Hong Kong. Any drastic
events may adversely affect our business operations. Such adverse events may include changes in economic conditions and regulatory environment,
social and/or political conditions, civil disturbance or disobedience, as well as significant natural disasters. Given the relatively
small geographical size of Hong Kong, any of such incidents may have a widespread effect on our business operations, which could in turn
adversely and materially affect our business, results of operations and financial condition. It is difficult to predict the full impact
of the HKAA on Hong Kong and companies with operations in Hong Kong like us. Furthermore, legislative or administrative actions in respect
of China-U.S. relations could cause investor uncertainty for affected issuers, including Raytech Holding, and the market price of Raytech
Holding&#8217;s Ordinary Shares could be adversely affected.</p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>There remain some uncertainties as to whether we will be required
to obtain approvals from mainland China and Hong Kong authorities to list additional Raytech Holding&#8217;s securities on the U.S. exchanges
and offer securities in the future, and if required, we cannot assure you that Raytech Holding will be able to obtain such approval.</i>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Regulations on Mergers
and Acquisitions of Domestic Companies by Foreign Investors (the &#8220;M&amp;A Rules&#8221;), adopted by six regulatory agencies of mainland
China in 2006 and amended in 2009, requires an overseas special purpose vehicle formed for listing purposes through acquisitions of mainland
China-based companies and controlled by mainland China-based companies or individuals to obtain the approval of the CSRC prior to the
listing and trading of such special purpose vehicle&#8217;s securities on an overseas stock exchange.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are also aware that recently,
the government of mainland China initiated a series of regulatory actions and statements to regulate business operations in certain areas
in mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision
over mainland China-based companies listed overseas using variable interest entity structure, adopting new measures to extend the scope
of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. For example, on July 6, 2021, the General Office of
the Communist Party of China Central Committee and the General Office of the State Council jointly issued a document to crack down on
illegal activities in the securities market and promote the high-quality development of the capital market, which, among other things,
requires the relevant governmental authorities to strengthen cross-border oversight of law-enforcement and judicial cooperation, to enhance
supervision over mainland China-based companies listed overseas, and to establish and improve the system of extraterritorial application
of the PRC securities laws.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 28, 2021, the
CAC and other PRC authorities promulgated the Cybersecurity Review Measures, which took effect on February 15, 2022. In addition, the
Cybersecurity Law, which was adopted by the Standing Committee of the National People&#8217;s Congress on November 7, 2016 and came into
force on June 1, 2017, and the Cybersecurity Review Measures, or the &#8220;Review Measures&#8221;, provide that personal information
and important data collected and generated by a critical information infrastructure operator, or a &#8220;CIIO&#8221;, in the course of
its operations in mainland China must be stored in mainland China, and if a CIIO purchases internet products and services that affect
or may affect national security, it should be subject to national security review by the CAC together with competent departments of the
State Council. On November 14, 2021, CAC published the Regulations on the Network Data Security Administration Draft, or the &#8220;Data
Security Regulations Draft&#8221;, to solicit public opinion and comments. Under the Data Security Regulations Draft, an overseas initial
public offering to be conducted by a data processor processing the personal information of more than one million individuals shall apply
for a cybersecurity review. Data processor means an individual or organization that independently makes decisions on the purpose and manner
of processing in data processing activities, and data processing activities refers to activities such as the collection, retention, use,
processing, transmission, provision, disclosure, or deletion of data.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Currently we do not expect the Review Measures to have an impact on
the business and operations of Raytech Holding&#8217;s Hong Kong subsidiaries, Pure Beauty and Raytech Innovation, or this offering, because
(i) Our Hong Kong subsidiaries are incorporated and operating in Hong Kong without any subsidiary or VIE structure in mainland China,
and it is unclear whether the Review Measures shall be applied to a Hong Kong company; (ii) as of the date of this prospectus, Pure Beauty
has not collected and stored personal information of any individual customers of mainland China and possesses personal information of
less than 1 million individuals in the PRC (for the purpose of this subsection (ii), including the special administrative regions of Hong
Kong and Macau and Taiwan), and do not possess any core data or important data of the PRC or any information which affects or may affect
national security of the PRC; and (iii) as of the date of this prospectus, neither Pure Beauty nor Raytech Innovation has not been informed
by any governmental authority of mainland China of any requirement that it file for a cybersecurity review for the offering. Based on
the foregoing and the advice of Raytech Holding&#8217;s PRC legal counsel, AllBright Law Offices (Fuzhou), as of the date of this prospectus,
we believe our Hong Kong subsidiaries are not required to pass the cybersecurity review of the CAC in order to list Raytech Holding&#8217;s
Ordinary Shares in the U.S. Nonetheless, if the authorized PRC regulatory body subsequently determines that we are required to go through
such cybersecurity review or if any other PRC government authorities promulgate any interpretation or implementation rules before Raytech
Holding&#8217;s listing that would require us to go through a cybersecurity review for this offering, we may fail to complete such cybersecurity
review procedures in a timely manner, or at all. Any failure or delay in the completion of the cybersecurity review procedures or any
other non-compliance with the related laws and regulations may result in fines or other penalties, reputational damage as well as legal
proceedings or actions against us, which may have material adverse effect on our business, financial condition or results of operations.</p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, on December 24,
2021, the CSRC issued the Administrative Provisions of the State Council Regarding the Overseas Issuance and Listing of Securities by
Domestic Enterprises (the &#8220;Draft Administrative Provisions&#8221;) and the Measures for the Overseas Issuance of Securities and
Listing Record-Filings by Domestic Enterprises (Draft for Comments) (the &#8220;Draft Filing Measures&#8221;), collectively, the Draft
Rules Regarding Overseas Listings. The Draft Rules Regarding Overseas Listing aim to lay out the filing regulation arrangement for both
direct and indirect overseas listing by mainland China-based companies and clarify the determination criteria for indirect overseas listing
in overseas markets. According to the Draft Rules Regarding Overseas Listings, among other things, after making initial applications with
overseas stock markets for initial public offerings or listings, all mainland China-based companies shall file with the CSRC within three
working days.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 17, 2023, the
CSRC promulgated the Overseas Listing Trial Measures and relevant five guidelines, which became effective on March 31, 2023. The Overseas
Listing Trial Measures comprehensively improve and reform the existing regulatory regime for overseas offering and listing of PRC domestic
companies&#8217; securities and will regulate both direct and indirect overseas offering and listing of mainland China-based companies&#8217;
securities by adopting a filing-based regulatory regime.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">According to the Overseas Listing
Trial Measures, mainland China-based companies that seek to offer and list securities in overseas markets, either in direct or indirect
means, are required to fulfill the filing procedure with the CSRC and report relevant information. The Overseas Listing Trial Measures
provides that an overseas listing or offering is explicitly prohibited, if: (i) such securities offering and listing is explicitly prohibited
by provisions in laws, administrative regulations and relevant state rules; (ii) the intended securities offering and listing may endanger
national security as reviewed and determined by competent authorities under the State Council in accordance with law; (iii) the domestic
company intending to make the securities offering and listing, or its controlling shareholder(s) and the actual controller, have committed
relevant crimes such as corruption, bribery, embezzlement, misappropriation of property or undermining the order of the socialist market
economy during the latest three years; (iv) the domestic company intending to make the securities offering and listing is currently under
investigations for suspicion of criminal offenses or major violations of laws and regulations, and no conclusion has yet been made thereof;
or (v) there are material ownership disputes over equity held by the domestic company&#8217;s controlling shareholder(s) or by other shareholder(s)
that are controlled by the controlling shareholder(s) and/or actual controller.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Overseas Listing Trial
Measures also provides that if the issuer both meets the following criteria, the overseas securities offering and listing conducted by
such issuer will be deemed as indirect overseas offering by PRC domestic companies: (i) 50% or more of any of the issuer&#8217;s operating
revenue, total profit, total assets or net assets as documented in its audited consolidated financial statements for the most recent fiscal
year is accounted for by domestic companies; and (ii) the main parts of the issuer&#8217;s business activities are conducted in mainland
China, or its main place(s) of business are located in mainland China, or the majority of senior management staff in charge of its business
operations and management are PRC citizens or have their usual place(s) of residence located in mainland China. Where an issuer submits
an application for initial public offering to competent overseas regulators, such issuer must file with the CSRC within three business
days after such application is submitted. The Overseas Listing Trial Measures also requires subsequent reports to be filed with the CSRC
on material events, such as change of control or voluntary or forced delisting of the issuer(s) who have completed overseas offerings
and listings.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As advised by Raytech Holding&#8217;s
PRC Counsel, AllBright Law Offices (Fuzhou), based on the facts that (i) we do not operate any entities in mainland China and the operating
revenue, total profit, total assets or net assets as documented in Raytech Holding&#8217;s audited consolidated financial statements for
the most recent fiscal year is accounted for by our Hong Kong subsidiary, Pure Beauty located outside mainland China; (ii) we do not have
any equity interest in any manufacturer located in mainland China and vice versa; and (iii) we conduct a majority of our business and
are headquartered in Hong Kong rather than in mainland China, and our senior management team are not PRC citizens or have their residence
located outside mainland China, we believe that, this offering will not be regarded as a subsequent securities offering in the same overseas
market under the Article 15 of the Overseas Listing Trial Measures, and are currently not required to complete the filing procedure with
the CSRC or to obtain regulatory approval from the CSRC. However, as the Overseas Listing Trial Measures were newly promulgated and there
exists substantial uncertainty that the CSRC may take a view that is contrary to our understanding of the Overseas Listing Trial Measures
because the Overseas Listing Trial Measures adopts the principle of &#8220;substance over form&#8221; regarding the determination of &#8220;indirect
overseas offering and listing by a domestic company,&#8221; over which the CSRC may have substantial discretions. If we are required to
complete the filing procedures with the CSRC in connection with this offering, we cannot assure you that we will be able to complete such
filings in a timely manner, or at all, in the future. Any failure by us to comply with such filing could impact our operations materially
and adversely, subject us to order to rectify, warnings and fines, and significantly limit or completely hinder our ability to offer or
continue to offer securities to investors and cause the value of our securities to significantly decline or be worthless.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As advised by Raytech Holding&#8217;s
PRC counsel, AllBright Law Offices (Fuzhou), as of the date of this prospectus, on the basis that (i) we currently do not have or intend
to set up any subsidiary or VIE structure in mainland China, (ii) we do not have any business operations in mainland China, except that
we collaborate with manufacturers located in mainland China to manufacture the products, (iii) none of our clients are located in mainland
China, and (iv) we possess personal information of less than 1 million individuals in the PRC (for the purpose of this subsection (iv),
including the special administrative regions of Hong Kong and Macau and Taiwan), and do not possess any core data or important data of
the PRC or any information which affects or may affect national security of the PRC, we believe, we are currently not required to obtain
any permission or approval from the CAC, or other governmental authorities of mainland China to operate our business or to list Raytech
Holding&#8217;s securities on the U.S. exchanges and to issue securities to foreign investors, nor have we been denied of any permissions
or approvals from the authorities of mainland China. Furthermore, CLKW Lawyers LLP, Raytech Holding&#8217;s Hong Kong counsel, has advised
Raytech Holding that, as of the date of this prospectus, Raytech Holding is not required to obtain any permission or approval from the
governmental authorities of Hong Kong to list on the U.S. exchanges and offer securities and we have obtained all necessary licenses,
permissions or approvals including the business registration certificate from the governmental authorities of Hong Kong to operate our
business and to the best of our knowledge, no license, permission or approval has been denied.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">However, if we (i) do not
receive or maintain such permission or approval, should the permission or approval be required in the future by the government of mainland
China or Hong Kong, (ii) inadvertently conclude that such permission or approval is not required, or (iii) applicable laws, regulations,
or interpretations change and we are required to obtain such permission or approval in the future, we may be unable to obtain such permissions
or approvals in a timely manner, or at all, and may face regulatory actions or other sanctions from the CSRC, the CAC or other PRC or
Hong Kong regulatory authorities if we fail to fully comply with any new regulatory requirements. Consequently, our operations and financial
condition could be materially adversely affected, and Raytech Holding&#8217;s ability to offer securities to investors could be significantly
limited or completely hindered and the securities currently being offered may substantially decline in value and become worthless.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are aware that recently,
the government of mainland China initiated a series of regulatory actions and statements to regulate business operations in certain areas
in mainland China with little advance notice, including cracking down on illegal activities in the securities market, enhancing supervision
over mainland China-based companies listed overseas using variable interest entity structure, adopting new measures to extend the scope
of cybersecurity reviews, and expanding the efforts in anti-monopoly enforcement. Nevertheless, since these statements and regulatory
actions are new, it is highly uncertain how soon the legislative or administrative regulation making bodies will respond and what existing
or new laws or regulations or detailed implementations and interpretations will be modified or promulgated, if any. It is also highly
uncertain what potential impact such modified or new laws and regulations will have on Pure Beauty&#8217;s daily business operations,
Raytech Holding&#8217;s ability to accept foreign investments and the listing of Raytech Holding&#8217;s Ordinary Shares on a U.S. or
other foreign exchanges. If there is significant change to current political arrangements between mainland China and Hong Kong, the PRC
government intervenes or influences operations of companies operated in Hong Kong like us, or exerts more control through change of laws
and regulations over offerings conducted overseas and/or foreign investment in issuers like Raytech Holding, it may result in a material
change in our operations and/or the value of the securities Raytech Holding is registering for sale or could significantly limit or completely
hinder Raytech Holding&#8217;s ability to offer or continue to offer securities to investors and cause the value of Raytech Holding&#8217;s
Ordinary Shares to significantly decline or become worthless.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Rules for cross-border provision and examination of auditing
records and other materials in connection with overseas securities issuance and listing was released by CSRC and became effective The
government of mainland China may impose more stringent requirement for domestic Chinese companies to share business and accounting records
with foreign auditing firms and other securities service institutions, which could significantly limit or completely hinder Raytech Holding&#8217;s
ability to offer or continue to offer its Ordinary Shares to investors and could cause the value of Raytech Holding&#8217;s Ordinary Shares
to significantly decline or become worthless.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On April 2, 2022, the CSRC,
in conjunction with the Ministry of Finance, the National Administration of State Secret Protection and the National Archives Administration,
issued the Regulations on Enhancing Confidentiality and File Management in Relation to Overseas Securities Issuance and Listing by Domestic
Enterprises (Draft for Comments, the &#8220;Draft Regulations&#8221;), an amendment to the original regulation of the same name published
in 2009. The Draft Regulations extend the scope of application of the regulations to indirectly listed enterprises, and expand the definition
of &#8220;domestic enterprises&#8221; to encompass domestic corporations directly listed on overseas exchanges as well as the domestic
operating subsidiaries of indirectly listed companies. The Draft Regulations require<span style="text-decoration:line-through">s </span>that, before providing or publicly
disclosing documents and materials involving state secrets or government work secrets to security brokers, security service providers,
or overseas regulators, the domestic enterprises shall seek approval from the relevant government regulators, and make filings with the
local secret protection regulators at the same government level.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Draft Regulations expand
the scope of the regulations from &#8220;state secrets&#8221; to &#8220;state secrets and work secrets of government agencies&#8221;.
However, the Draft Regulations do not define the scope of such secrets, but merely state that &#8220;in case where it is unclear or disputed
as to whether state secrets are involved, the issue shall be submitted to the relevant secret protection regulator for determination;
in case where it is unclear or disputed as to whether government work secrets are involved, the issue shall be submitted to the relevant
government regulator for determination.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Draft Regulations mandates
that domestic enterprises need to follow the prescribed procedures before furnishing &#8220;accounting records or copies of accounting
records of significant state or societal storage value&#8221; to relevant security brokers, security service providers, and overseas regulators.
If it is necessary to transmit such materials of significance out of mainland China, the relevant enterprises need to follow the prescribed
procedures for advance approval. Similarly, if an overseas accounting firm intends to provide auditing work on a domestic enterprise seeking
overseas listing, the accounting firm shall follow the prescribed procedures under the relevant state laws and regulations. A domestic
enterprise shall not provide accounting records to an overseas accounting firm or network who has not satisfied the prescribed procedures.</p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On February 24, 2023, the
CSRC, Ministry of Finance of the PRC, National Administration of State Secrets Protection and National Archives Administration of China
promulgated the Provisions on Strengthening Confidentiality and Archives Administration of Overseas Securities Offering and Listing by
Domestic Companies, or the Archives Rules, which took effect on March 31, 2023. Pursuant to the Archives Rules, domestic companies that
seek for overseas offering and listing shall strictly abide by applicable laws and regulations of the PRC and the Archives Rules, enhance
legal awareness of keeping state secrets and strengthening archives administration, institute a sound confidentiality and archives administration
system, and take necessary measures to fulfill confidentiality and archives administration obligations. Such domestic companies shall
not leak any state secret and working secret of government agencies, or harm national security and public interest. Furthermore, a domestic
company that plans to, either directly or through its overseas listed entity, publicly disclose or provide to relevant individuals or
entities including securities companies, securities service providers and overseas regulators, any document and materials that contain
state secrets or working secrets of government agencies, shall first obtain approval from competent authorities according to law, and
file with the secrecy administrative department at the same level. Moreover, a domestic company that plans to, either directly or through
its overseas listed entity, publicly disclose or provide to relevant individuals and entities including securities companies, securities
service providers and overseas regulators, any other documents and materials that, if leaked, will be detrimental to national security
or public interest, shall strictly fulfill relevant procedures stipulated by applicable national regulations. The Archives Rules also
stipulate that a domestic company that provides accounting archives or copies of accounting archives to any entities including securities
companies, securities service providers and overseas regulators and individuals shall fulfill due procedures in compliance with applicable
national regulations. As we are not domestic companies, and do not plan to leak any state secret and working secret of government agencies,
or harm national security or public interest in connection with provision of documents, materials and accounting archives, we believe
we may not be required to obtain relevant approval or file with the secrecy administrative department in accordance with the Archives
Rules with respect to the offering. However, as the Archives Rules was newly published, there are substantial uncertainties as to the
implementation and interpretation, if we are required to perform additional procedures in connection with the provision of accounting
archives or other documents, we cannot assure you that we will be able to fulfill such procedures in a timely manner, or even at all.
Any failure by us to comply with the Archives Rules may materially adversely affected, our ability to offer securities to investors to
become significantly limited or completely hindered.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On August 26, 2022, a Statement
of Protocol was signed by the PCAOB, the CSRC and the Ministry of Finance of the PRC governing inspections and investigations of audit
firms based in mainland China and Hong Kong. Pursuant to the Statement of Protocol, the PCAOB conducted inspections on select registered
public accounting firms subject to the Determination Report in Hong Kong between September and November 2022. On December 15, 2022, the
PCAOB board announced that it has completed the inspections, determined that it had complete access to inspect or investigate completely
registered public accounting firms headquartered in mainland China and Hong Kong, and voted to vacate the Determination Report. On December
29, 2022, the CAA was signed into law by President Biden. The CAA contained, among other things, an identical provision to the AHFCAA,
which reduces the number of consecutive non-inspection years required for triggering the prohibitions under the HFCA Act from three years
to two.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We cannot guarantee that we will
be able to obtain any approval or authorization from relevant secret protection regulator or other government authorities in a timely
manner, or any such approval or authorization can be obtained at all if we are required to obtain any approval or authorization. Failure
to obtain the necessary approvals or complete the required filings in a timely manner may result in the failure to complete the listing
or subject us to fines, penalties or other sanctions, which may have a significant adverse impact on our financial position and operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, the Archives
Rules take into account the international practice of cross-border audit regulatory co-operation and requires that &#8220;on-site inspections
should be conducted mainly by CSRC and Chinese regulators, or rely on the inspection results of Chinese regulators&#8221; stated in the
Regulations on Enhancing Confidentiality and File Management in Relation to Overseas Securities Issuance and Listing published in 2009.
The Archives Rules make it clear that the CSRC or Chinese regulators shall provide necessary support through multilateral or bilateral
cooperation mechanism for cross-border investigation and examination carried out by overseas securities administrative authorities and
regulators on mainland China enterprises seeking overseas listings and security brokers or security service providers providing securities
services for such domestic enterprises in respect of their activities relating to such overseas issuance and listings. However, there
is no existing tried-and-proved mechanisms for cross-border regulatory cooperation, and it is difficult to carry out shareholder claims
or regulatory investigations in mainland China similar to those in the United States, due to various legal and practical problems.</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although we do not believe
that we are currently prohibited from providing its accounting records to our auditor or that we or our auditor would be required to go
through any prescribed procedures for approval under current laws and regulations of mainland China, we may be subject to additional compliance
requirements in the future. Since the Archive Rules are newly promulgated, and the interpretation and implementation are not very clear,
we cannot assure you that we will be able to receive clearance of such regulatory requirements in a timely manner, or at all, in the future.
If the CSRC, the state secret protection regulator or any other relevant government regulator require that we obtain approval or complete
relevant procedure prior to the completion of this offering, the offering will be delayed until we have obtained such approval or completed
such procedure. There is also the possibility that we may not be able to obtain or maintain such approval, complete such procedure or
that we inadvertently concluded that such approval or procedure was not required. If prior approval or procedure was required while we
inadvertently concluded that such approval or procedure was not required or if applicable laws and regulations or the interpretation of
such were modified to require us to obtain such approval or procedure in the future, we may face regulatory actions or other sanctions
from the CSRC or other regulatory authorities of mainland China. Any failure of us to fully comply with new regulatory requirements may
significantly limit or completely hinder Raytech Holding&#8217;s ability to offer or continue to offer the Ordinary Shares, cause significant
disruption to our business operations, severely damage our reputation, materially and adversely affect our financial condition and results
of operations, and cause the Ordinary Shares to significantly decline in value or become worthless.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>It may be difficult for overseas shareholders and/or regulators
to conduct investigations or collect evidence within mainland China.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Shareholder claims or regulatory
investigations that are common in the United States generally are difficult to pursue as a matter of law or practicality in mainland China.
For example, in mainland China, there are significant legal and other obstacles to providing information needed for regulatory investigations
or litigation initiated outside mainland China. Although the authorities in mainland China may establish a regulatory cooperation mechanism
with the securities regulatory authorities of another country or region to implement cross-border supervision and administration, such
cooperation with the securities regulatory authorities in the Unities States may not be efficient in the absence of mutual and practical
cooperation mechanisms. Furthermore, according to Article 177 of the PRC Securities Law of mainland China of the PRC, or Article 177,
which became effective in March 2020, no overseas securities regulator is allowed to directly conduct investigation or evidence collection
activities within the territory of the mainland China. While detailed interpretation of or implementation rules under Article 177 have
yet to be promulgated, the inability for an overseas securities regulator to directly conduct investigation or evidence collection activities
within mainland China may further increase difficulties faced by you in protecting your interests.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our principal business operation
is conducted in Hong Kong. In the event that the U.S. regulators carry out investigation on Raytech Holding and there is a need to conduct
investigation or collect evidence within the territory of the mainland China, the U.S. regulators may not be able to carry out such investigation
or evidence collection directly in mainland China under the laws and regulations of mainland China. The U.S. regulators may consider cross-border
cooperation with securities regulatory authority of mainland China by way of judicial assistance, diplomatic channels or regulatory cooperation
mechanism established with the securities regulatory authority of mainland China.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>You may incur additional costs and procedural obstacles in
effecting service of legal process, enforcing foreign judgments or bringing actions in Hong Kong against Raytech Holding or its management
named in the prospectus based on Hong Kong laws.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Currently, all of our operations
are conducted outside the United States, and all of our assets are located outside the United States. All of Raytech Holding&#8217;s directors
and officers are Hong Kong nationals or residents and a substantial portion of their assets are located in Hong Kong. You may incur additional
costs and procedural obstacles in effecting service of legal process, enforcing foreign judgments or bringing actions in Hong Kong against
Raytech Holding or its management named in the prospectus, as judgments entered in the United States can be enforced in Hong Kong only
at common law. If you want to enforce a judgment of the United States in Hong Kong, it must be a final judgment conclusive upon the merits
of the claim, for a liquidated amount in a civil matter and not in respect of taxes, fines, penalties, or similar charges, the proceedings
in which the judgment was obtained were not contrary to natural justice, and the enforcement of the judgment is not contrary to public
policy of Hong Kong. Such a judgment must be for a fixed sum and must also come from a &#8220;competent&#8221; court as determined by
the private international law rules applied by the Hong Kong courts. For more information regarding the relevant laws of the British Virgin
Islands and Hong Kong, see &#8220;Enforceability of Civil Liabilities&#8221; beginning on page 58  of this prospectus.</p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We may be affected by the currency peg system in Hong Kong.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since 1983, Hong Kong dollars
have been pegged to the U.S. dollars at the rate of approximately HK$7.80 to US$1.00. We cannot assure you that this policy will not be
changed in the future. If the pegging system collapses and Hong Kong dollars suffer devaluation, the Hong Kong dollar cost of our expenditures
denominated in foreign currency may increase. This would in turn adversely affect the operations and profitability of our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Risks Related to Raytech Holding&#8217;s Ordinary Shares and This
Offering</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Although the audit report included in this prospectus is prepared
by U.S. auditors who are subject to PCAOB inspections on a regular basis, there is no guarantee that future audit reports will be prepared
by auditors inspected by the PCAOB and, as such, in the future investors may be deprived of the benefits of such inspection. Furthermore,
trading in Raytech Holding&#8217;s securities may be prohibited under the HFCA Act if the SEC subsequently determines Raytech Holding&#8217;s
audit work is performed by auditors that the PCAOB is unable to inspect or investigate completely, and as a result, U.S. national securities
exchanges, such as the Nasdaq, may determine to delist Raytech Holding&#8217;s securities. Furthermore, on June 22, 2021, the U.S. Senate
passed the AHFCAA, which would amend the HFCA Act and require the SEC to prohibit an issuer&#8217;s securities from trading on any U.S.
stock exchanges if its auditor is not subject to PCAOB inspections for two consecutive years instead of three, thus reducing the time
period for triggering the prohibition on trading.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As an auditor of companies
that are registered with the SEC and publicly traded in the United States and a firm registered with the PCAOB, Raytech Holding&#8217;s
auditor is required under the laws of the United States to undergo regular inspections by the PCAOB to assess their compliance with the
laws of the United States and professional standards. The PCAOB is currently unable to conduct inspections without the approval of the
PRC government authorities. Raytech Holding&#8217;s U.S. auditor is subject to PCAOB inspections on a regular basis, and we have no operations
in mainland China. However, if there is significant change to current political arrangements between mainland China and Hong Kong, companies
operated in Hong Kong like us may face similar regulatory risks as those operated in mainland China and we cannot assure you that Raytech
Holding&#8217;s auditor&#8217;s work will continue to be able to be inspected by the PCAOB.</p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of a continued regulatory
focus in the United States on access to audit and other information currently protected by national law, in particular mainland China&#8217;s,
in June 2019, a bipartisan group of lawmakers introduced bills in both houses of the U.S. Congress which, if passed, would require the
SEC to maintain a list of issuers for which PCAOB is not able to inspect or investigate the audit work performed by a foreign public accounting
firm completely. The proposed Ensuring Quality Information and Transparency for Abroad-Based Listings on our Exchanges (&#8220;EQUITABLE&#8221;)
Act prescribes increased disclosure requirements for these issuers and, beginning in 2025, the delisting from U.S. national securities
exchanges such as the Nasdaq of issuers included on the SEC&#8217;s list for three consecutive years, thus reducing the time period for
triggering the prohibition on trading. It is unclear if this proposed legislation will be enacted. Furthermore, there have been recent
deliberations within the U.S. government regarding potentially limiting or restricting China-based companies from accessing U.S. capital
markets. On May 20, 2020, the U.S. Senate passed the HFCA Act, which includes requirements for the SEC to identify issuers whose audit
work is performed by auditors that the PCAOB is unable to inspect or investigate completely because of a restriction imposed by a non-U.S.
authority in the auditor&#8217;s local jurisdiction. The U.S. House of Representatives passed the HFCA Act on December 2, 2020, and the
HFCA Act was signed into law on December 18, 2020. Additionally, in July 2020, the U.S. President&#8217;s Working Group on Financial Markets
issued recommendations for actions that can be taken by the executive branch, the SEC, the PCAOB or other federal agencies and department
with respect to Chinese companies listed on U.S. stock exchanges and their audit firms, in an effort to protect investors in the United
States. In response, on November 23, 2020, the SEC issued guidance highlighting certain risks (and their implications to U.S. investors)
associated with investments in China-based issuers and summarizing enhanced disclosures the SEC recommends China-based issuers make regarding
such risks. On March 24, 2021, the SEC adopted interim final rules relating to the implementation of certain disclosure and documentation
requirements of the HFCA Act. Raytech Holding will be required to comply with these rules if the SEC identifies Raytech Holding as having
a &#8220;non-inspection&#8221; year (as defined in the interim final rules) under a process to be subsequently established by the SEC.
The SEC is assessing how to implement other requirements of the HFCA Act, including the listing and trading prohibition requirements described
above. Under the HFCA Act, Raytech Holding&#8217;s securities may be prohibited from trading on the Nasdaq or other U.S. stock exchanges
if Raytech Holding&#8217;s auditor is not inspected by the PCAOB for three consecutive years, and this ultimately could result in Raytech
Holding&#8217;s Ordinary Shares being delisted. Furthermore, on June 22, 2021, the U.S. Senate passed the AHFCAA, which would amend the
HFCA Act and require the SEC to prohibit an issuer&#8217;s securities from trading on any U.S. stock exchanges if its auditor is not subject
to PCAOB inspections for two consecutive years instead of three, thus reducing the time period for triggering the prohibition on trading.
On September 22, 2021, the PCAOB adopted a final rule implementing the AHFCAA, which provides a framework for the PCAOB to use when determining,
as contemplated under the AHFCAA, whether the Board is unable to inspect or investigate completely registered public accounting firms
located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction. On November 5, 2021, the
SEC approved the PCAOB&#8217;s Rule 6100, Board Determinations Under the Holding Foreign Companies Accountable Act. Rule 6100 provides
a framework for the PCAOB to use when determining, as contemplated under the AHFCAA, whether it is unable to inspect or investigate completely
registered public accounting firms located in a foreign jurisdiction because of a position taken by one or more authorities in that jurisdiction.
On December 2, 2021, the SEC issued amendments to finalize rules implementing the submission and disclosure requirements in the AHFCAA.
The rules apply to registrants that the SEC identifies as having filed an annual report with an audit report issued by a registered public
accounting firm that is located in a foreign jurisdiction and that PCAOB is unable to inspect or investigate completely because of a position
taken by an authority in foreign jurisdictions. On December 16, 2021, the SEC announced that the PCAOB designated mainland China and Hong
Kong as the jurisdictions where the PCAOB is not allowed to conduct full and complete audit inspections as mandated under the HFCA Act.
On August 26, 2022, a Statement of Protocol was signed by the PCAOB, the CSRC and the Ministry of Finance of the PRC governing inspections
and investigations of audit firms based in mainland China and Hong Kong. Pursuant to the Statement of Protocol, the PCAOB conducted inspections
on select registered public accounting firms subject to the Determination Report in Hong Kong between September and November 2022. On
December 15, 2022, the PCAOB board announced that it has completed the inspections, determined that it had complete access to inspect
or investigate completely registered public accounting firms headquartered in mainland China and Hong Kong, and voted to vacate the Determination
Report. On December 29, 2022, the CAA was signed into law by President Biden. The CAA contained, among other things, an identical provision
to the AHFCAA, which reduces the number of consecutive non-inspection years required for triggering the prohibitions under the HFCA Act
from three years to two. Raytech Holding&#8217;s auditor is based in the United States, and therefore is not currently subject to the
determinations announced by the PCAOB on December 16, 2021. Notwithstanding the foregoing, in the future, if there is any regulatory change
or step taken by PRC regulators that does not permit WWC, P.C. to provide audit work papers located in mainland China or Hong Kong to
the PCAOB for inspection or investigation, or the PCAOB re-evaluates its determination as a result of any obstruction with the implementation
of the Statement of Protocol in the future, the trading in Raytech Holding&#8217;s securities may be prohibited under the HFCA Act, ultimately
resulting in a determination by a securities exchange to delist our securities. Delisting of Raytech Holding&#8217;s Ordinary Shares would
force holders of Raytech Holding&#8217;s Ordinary Shares to sell their Ordinary Shares. The market price of Raytech Holding&#8217;s Ordinary
Shares could be adversely affected as a result of anticipated negative impacts of these executive or legislative actions upon, regardless
of whether these executive or legislative actions are implemented and regardless of our actual operating performance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The SEC is assessing how to
implement other requirements of the AHFCAA, including the listing and trading prohibition requirements described above. Future developments
in respect of increasing U.S. regulatory access to audit information are uncertain, as the legislative developments are subject to the
legislative process and the regulatory developments are subject to the rule-making process and other administrative procedures.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Raytech Holding&#8217;s Ordinary Shares are thinly traded and
you may be unable to sell at or near ask prices or at all if you need to sell your shares to raise money or otherwise desire to liquidate
your shares.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding&#8217;s Ordinary
Shares are &#8220;thinly-traded&#8221;, meaning that the number of persons interested in purchasing Raytech Holding&#8217;s Ordinary
Shares at or near bid prices at any given time may be relatively small or non-existent. This situation may be attributable to a number
of factors, including the fact that Raytech Holding is relatively unknown to stock analysts, stock brokers, institutional investors and
others in the investment community that generate or influence sales volume, and that even if Raytech Holding came to the attention of
such persons, they tend to be risk-averse and might be reluctant to follow an unproven company such as Raytech Holding or purchase or
recommend the purchase of Raytech Holding&#8217;s shares until such time as Raytech Holding became more seasoned. As a consequence, there
may be periods of several days or more when trading activity in Raytech Holding&#8217;s shares is minimal or non-existent, as compared
to a seasoned issuer which has a large and steady volume of trading activity that will generally support continuous sales without an
adverse effect on share price. A broad or active public trading market for Raytech Holding&#8217;s Ordinary Shares may not develop or
be sustained.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>The market price for our Ordinary Shares may be volatile and
could decline significantly, potentially subjecting us to securities litigation.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The trading price of our Ordinary Shares is likely
to be volatile and could fluctuate widely due to factors both specific to our company and related to broader market conditions, many of
which are beyond our control.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a company with a relatively recent IPO and
potentially a smaller public float compared to seasoned issuers, we may experience significant price volatility. There have been instances
of extreme stock price run-ups followed by rapid price declines and strong volatility with a number of recent initial public offerings,
especially among companies with relatively smaller public floats. Our status may contribute to greater stock price volatility, extreme
price run-ups, lower trading volume, and less liquidity than large-capitalization companies. In particular, our Ordinary Shares may be
subject to rapid and substantial price volatility, low volumes of trades, and large spreads in bid and ask prices. Such volatility, including
any stock run-up, may be unrelated or disproportionate to our actual or expected operating performance, financial condition, or prospects,
making it difficult for prospective investors to assess the rapidly changing value of our Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Furthermore, the trading performances and market
perceptions of other companies based in Hong Kong or China that have listed their securities in the United States may significantly impact
the trading performance of our Ordinary Shares, regardless of our actual operating performance. This can happen due to broad market and
industry factors, such as the performance and fluctuation in the market prices or the underperformance or deteriorating financial results
of these other companies. Any negative news or perceptions about inadequate corporate governance practices, fraudulent accounting, corporate
structure, or other matters relating to other Hong Kong or Chinese companies may also negatively affect investor attitudes towards Hong
Kong or Chinese companies in general, including us, regardless of whether we have engaged in any inappropriate activities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, if the trading volume of our Ordinary
Shares is low, persons buying or selling in relatively small quantities may easily influence the market price. Low trading volume could
also cause the price of our Ordinary Shares to fluctuate greatly, with large percentage changes potentially occurring in a single trading
day. Broad market fluctuations and general economic and political conditions may also adversely affect the market price of our Ordinary
Shares. Securities markets may from time to time experience significant price and volume fluctuations that are not related to our operating
performance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Specific factors that may cause the price and
trading volume of our Ordinary Shares to be highly volatile include, but are not limited to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Regulatory developments affecting us, our customers, or our
industry;</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Announcements of studies and reports relating to our service
offerings or those of our competitors;</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Actual or anticipated fluctuations in our quarterly results
of operations and changes or revisions of our expected results;</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Changes in financial estimates by securities research analysts;</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Announcements by us or our competitors of new product and
service offerings, acquisitions, strategic relationships, joint ventures, or capital commitments;</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Additions to or departures of our senior management;</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Detrimental negative publicity about us, our management, or
our industry;</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Fluctuations of exchange rates between relevant currencies
(e.g., the Hong Kong dollar and the U.S. dollar);</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Release or expiry of lock-up or other transfer restrictions
on our outstanding Ordinary Shares; and</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->52<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Sales or perceived potential sales of additional Ordinary
Shares by us or our shareholders.</td>
</tr></table><div>

</div><p style="margin-top: 0; margin-bottom: 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">As a result of this potential volatility, investors may experience
losses on their investment. Holders of our Ordinary Shares may also not be able to readily liquidate their investment or may be forced
to sell at depressed prices due to low volume trading or sharp price declines. A decline in the market price of our Ordinary Shares could
also adversely affect our ability to issue additional Ordinary Shares or other securities and our ability to obtain additional financing
in the future. No assurance can be given that an active market in our Ordinary Shares will develop or be sustained.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In the past, plaintiffs have often initiated securities class action
litigation against companies following periods of volatility in the market price of their securities. We may, in the future, be the target
of similar litigation. Securities litigation could result in substantial costs and liabilities and could divert management&#8217;s attention
and resources.</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>You will experience immediate and substantial dilution in the
net tangible book value of Ordinary Shares purchased.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">The offering price of Raytech Holding&#8217;s
Ordinary Shares is substantially higher than the (pro forma) net tangible book value per share of its Ordinary Shares. Consequently, when
you purchase Raytech Holding&#8217;s Ordinary Shares in the offering and upon completion of the offering, you will incur immediate dilution
of $[*] per share, at an initial public offering price of $[*]. See &#8220;Dilution&#8221; on page 61 of this prospectus.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Substantial future sales of Raytech Holding&#8217;s Ordinary
Shares or the anticipation of future sales of Raytech Holding&#8217;s Ordinary Shares in the public market could cause the price of Raytech
Holding&#8217;s Ordinary Shares to decline.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; text-indent: 0.5in; margin: 0pt 0; text-align: justify">Sales of substantial
amounts of Raytech Holding&#8217;s Ordinary Shares in the public market after this offering, or the perception that these sales
could occur, could cause the market price of Raytech Holding&#8217;s Ordinary Shares to decline. An aggregate of 17,613,083 Ordinary
Shares are outstanding before the consummation of this offering and 47,613,083 Ordinary Shares will be outstanding immediately after
the consummation of this offering. Sales of these shares into the market could cause the market price of Raytech Holding&#8217;s
Ordinary Shares to decline.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Raytech Holding does not intend to pay dividends for the foreseeable
future.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding currently
intends to retain all available funds and future earnings, if any, for the operation and expansion of our business and do not anticipate
declaring or paying any dividends in the foreseeable future. Any future determination related to Raytech Holding&#8217;s dividend policy
will be made at the discretion of Raytech Holding&#8217;s board of directors after considering our financial condition, results of operations,
capital requirements, contractual requirements, business prospects and other factors the board of directors deems relevant, and subject
to the restrictions contained in any future financing instruments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since its IPO, Raytech Holdings
has not declared any dividends. If Raytech Holding determines to pay dividends on any of Raytech Holding&#8217;s Ordinary Shares in the
future, as a holding company, it will be dependent on receipt of funds from its Hong Kong subsidiaries. Under the current practice of
the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by Raytech Holding.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>If securities or industry analysts do not publish research
or reports about Raytech Holding&#8217;s business, or if they publish a negative report regarding Raytech Holding&#8217;s Ordinary Shares,
the price of Raytech Holding&#8217;s Ordinary Shares and trading volume could decline.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The trading market for Raytech
Holding&#8217;s Ordinary Shares may depend in part on the research and reports that industry or securities analysts publish about Raytech
Holding or its business. We do not have any control over these analysts. If one or more of the analysts who cover Raytech Holding downgrade
Raytech Holding, the price of Raytech Holding&#8217;s Ordinary Shares would likely decline. If one or more of these analysts cease coverage
of Raytech Holding or fail to regularly publish reports on Raytech Holding, Raytech Holding could lose visibility in the financial markets,
which could cause the price of Raytech Holding&#8217;s Ordinary Shares and the trading volume to decline.</p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>You may face difficulties in protecting your interests, and
your ability to protect your rights through U.S. courts may be limited, because Raytech Holding is incorporated under British Virgin Islands
law.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is a company
incorporated under the laws of the British Virgin Islands. Raytech Holding&#8217;s corporate affairs are governed by its memorandum and
articles of association, the BVI Act and the common law of the British Virgin Islands. The rights of shareholders to take action against
Raytech Holding&#8217;s directors, actions by its minority shareholders and the fiduciary duties of Raytech Holding&#8217;s directors
to it under the British Virgin Islands law are to a large extent governed by the common law of the British Virgin Islands. The common
law of the British Virgin Islands is derived in part from comparatively limited judicial precedent in the British Virgin Islands as well
as from the common law of England, the decisions of whose courts are of persuasive authority, but are not binding, on a court in the British
Virgin Islands. The rights of Raytech Holding&#8217;s shareholders and the fiduciary duties of its directors under the British Virgin
Islands law are not as clearly established as they would be under statutes or judicial precedent in some jurisdictions in the United States.
In particular, the British Virgin Islands has a less developed body of securities laws than the United States. Some U.S. states, such
as Delaware, have more fully developed and judicially interpreted bodies of corporate law than the British Virgin Islands. In addition,
British Virgin Islands companies may not have standing to initiate a shareholder derivative action in a federal court of the United States.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Certain corporate governance practices in the British Virgin Islands,
where Raytech Holding was incorporated, differ significantly from requirements for companies incorporated in other jurisdictions such
as the United States. As a foreign private issuer, Raytech Holding is permitted to follow home country practice in lieu of certain corporate
governance requirements applicable to U.S. domestic issuers. As further described below, Raytech Holding is relying on certain of these
exemptions. If Raytech Holding chooses to follow additional British Virgin Islands&#8217; practices in the future, or continues to rely
on current exemptions, its shareholders may be afforded less protection than they otherwise would under rules and regulations applicable
to U.S. domestic issuers. See &#8220;Risk Factors &#8211; Risks Related to Raytech Holding&#8217;s Ordinary Shares and This Offering &#8211;
<i>As a foreign private issuer, Raytech Holding is permitted to, and Raytech Holding is relying on exemptions from certain Nasdaq Stock
Exchange corporate governance standards applicable to domestic U.S. issuers. This may afford less protection to holders of Raytech Holding&#8217;s
shares.</i>&#8221; on page 55  of this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As a result of all of the
above, public shareholders may have more difficulties in protecting their interests in the face of actions taken by Raytech Holding&#8217;s
management, or members of its board of directors, than they would as public shareholders of a company incorporated in the United States.
For a discussion of significant differences between the provisions of the BVI Act and the laws applicable to companies incorporated in
the United States and their shareholders, see &#8220;Description of Shares&#8212;Differences in Corporate Law.&#8221; beginning on page
 109 of this prospectus.</p><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>As a foreign private issuer, Raytech Holding is permitted to,
and Raytech Holding is, relying on exemptions from certain Nasdaq Stock Exchange corporate governance standards applicable to domestic
U.S. issuers. This may afford less protection to holders of Raytech Holding&#8217;s shares.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is exempted
from certain corporate governance requirements of the Nasdaq listing rules by virtue of being a foreign private issuer. Raytech Holding
is required to provide a brief description of the significant differences between our corporate governance practices and the corporate
governance practices required to be followed by domestic U.S. companies listed on the Nasdaq. The standards applicable to Raytech Holding
are considerably different than the standards applied to domestic U.S. issuers. For instance, Raytech Holding is not required to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">have a majority of the board be independent (although all of the members of the audit committee must be
independent under the Exchange Act);</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">have a compensation committee or a nominating or corporate governance committee consisting entirely of
independent directors;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">have regularly scheduled executive sessions with only independent directors; or</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">have executive sessions of solely independent directors each year.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is relying
on some or all of these exemptions and may continue to do so. As a result, you may not be provided with the benefits of certain corporate
governance requirements of the Nasdaq.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>If Raytech Holding cannot continue to satisfy, the continued
listing requirements and other rules of the Nasdaq Capital Market applicable to it, our securities may be delisted, which could negatively
impact the price of Raytech Holding&#8217;s securities and your ability to sell them.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Ordinary Shares commenced trading on The Nasdaq Capital Market
under the symbol &#8220;RAY&#8221; on May 15, 2024. However, we cannot assure you that Raytech Holding&#8217;s securities will continue
to be listed on the Nasdaq Capital Market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In order to maintain Raytech
Holding&#8217;s listing on the Nasdaq Capital Market, Raytech Holding is required to comply with certain rules of the Nasdaq Capital Market,
including those regarding minimum share price and certain corporate governance requirements. Although
Raytech Holding has initially met the listing requirements and other applicable rules of the Nasdaq Capital Market, it may not be able
to continue to satisfy these requirements and applicable rules. If Raytech Holding is unable to satisfy the Nasdaq Capital Market criteria
for maintaining our listing, its securities could be subject to delisting.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the Nasdaq Capital Market
delists Raytech Holding&#8217;s securities from trading, Raytech Holding could face significant consequences, including:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">a limited availability for market quotations for Raytech Holding&#8217;s securities;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">reduced liquidity with respect to Raytech Holding&#8217;s securities;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">a determination that Raytech Holding&#8217;s Ordinary Shares are a &#8220;penny stock,&#8221; which will
require brokers trading in Raytech Holding&#8217;s Ordinary Share to adhere to more stringent rules and possibly result in a reduced level
of trading activity in the secondary trading market for Raytech Holding&#8217;s Ordinary Shares;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">limited amount of news and analyst coverage; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">a decreased ability to issue additional securities or obtain additional financing in the future.</td></tr></table><div>

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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Because our business is conducted in Hong Kong dollars and
the price of Raytech Holding&#8217;s Ordinary Shares is quoted in United States dollars, changes in currency conversion rates may affect
the value of your investments.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our business is conducted
in Hong Kong, our books and records are maintained in Hong Kong dollars, which is the currency of Hong Kong, and the financial statements
that Raytech Holding files with the SEC and provide to its shareholders are presented in United States dollars. Changes in the exchange
rate between the Hong Kong dollar and U.S. dollar affect the value of our assets and the results of our operations in United States dollars.
The value of the Hong Kong dollar against the United States dollar and other currencies may fluctuate and is affected by, among other
things, changes in Hong Kong&#8217;s political and economic conditions and perceived changes in the economy of Hong Kong and the United
States. Any significant revaluation of the Hong Kong dollar may materially and adversely affect our cash flows, revenue and financial
condition. Further, although Raytech Holding&#8217;s Ordinary Shares offered by this prospectus are denominated in United States dollars,
Raytech Holding will need to convert the net proceeds it receives into Hong Kong dollars in order to use the funds for our business. Changes
in the conversion rate between the United States dollar and the Hong Kong dollar will affect that amount of proceeds Raytech Holding will
have available for our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Raytech Holding has broad discretion in the use of the net
proceeds from this offering and may not use them effectively.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding&#8217;s management
will have broad discretion in the application of the net proceeds, including for any of the purposes described in the section entitled
&#8220;Use of Proceeds,&#8221; and you will not have the opportunity as part of your investment decision to assess whether the net proceeds
are being used appropriately. Because of the number and variability of factors that will determine Raytech Holding&#8217;s use of the
net proceeds from this offering, their ultimate use may vary substantially from their currently intended use. The failure by Raytech Holding&#8217;s
management to apply these funds effectively could harm our business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>There can be no assurance that Raytech Holding will not be
a passive foreign investment company (&#8220;PFIC&#8221;), for U.S. federal income tax purposes for any taxable year, which could result
in adverse U.S. federal income tax consequences to U.S. holders of Raytech Holding&#8217;s Ordinary Shares.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 15pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A non-U.S. corporation
will be a PFIC for any taxable year if either (1) at least 75% of its gross income for such year consists of certain types of
&#8220;passive&#8221; income; or (2) at least 50% of the value of its assets (based on an average of the quarterly values of the
assets) during such year is attributable to assets that produce passive income or are held for the production of passive income, or
the asset test. Based on Raytech Holding&#8217;s current and expected income and assets (taking into account the expected cash
proceeds and our anticipated market capitalization following this offering), Raytech Holding does not presently expect to be a PFIC
for the current taxable year or the foreseeable future. However, no assurance can be given in this regard because the determination
of whether Raytech Holding is or will become a PFIC is a fact-intensive inquiry made on an annual basis that depends, in part, upon
the composition of Raytech Holding&#8217;s income and assets. In addition, there can be no assurance that the Internal Revenue
Service, or IRS, will agree with Raytech Holding&#8217;s conclusion or that the IRS would not successfully challenge Raytech
Holding&#8217;s position. Fluctuations in the market price of Raytech Holding&#8217;s Ordinary Shares may cause Raytech Holding to
become a PFIC for the current or subsequent taxable years because the value of Raytech Holding&#8217;s total assets for purposes of
the asset test generally will be determined by reference to the market price of Raytech Holding&#8217;s Ordinary Shares. The
composition of Raytech Holding&#8217;s income and assets may also be affected by how, and how quickly, it uses its liquid assets and
the cash raised in this offering. If Raytech Holding were to be or become a PFIC for any taxable year during which a U.S. Holder
holds Raytech Holding&#8217;s Ordinary Shares, certain adverse U.S. federal income tax consequences could apply to such U.S. Holder
and such U.S. Holder may be subject to additional reporting requirements and increased U.S. federal income tax liability. Our status
as a PFIC is a fact-intensive determination made on an annual basis. Accordingly, our U.S. counsel expresses no opinion with respect
to our PFIC status and also expresses no opinion with regard to our expectations regarding our PFIC status. For a more detailed
discussion of the application of the PFIC rules to Raytech Holding and the consequences to U.S. taxpayers if Raytech Holding were or
are determined to be a PFIC, <i>see &#8220;Taxation&#8212; Passive Foreign Investment Company.&#8221; </i>beginning on page 119 of
this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="a_004"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus contains forward-looking
statements, all of which are subject to risks and uncertainties. Forward-looking statements give our current expectations or forecasts
of future events. You can identify these statements by the fact that they do not relate strictly to historical or current facts. You can
find many (but not all) of these statements by the use of words such as &#8220;approximates,&#8221; &#8220;believes,&#8221; &#8220;hopes,&#8221;
&#8220;expects,&#8221; &#8220;anticipates,&#8221; &#8220;estimates,&#8221; &#8220;projects,&#8221; &#8220;intends,&#8221; &#8220;plans,&#8221;
&#8220;will,&#8221; &#8220;would,&#8221; &#8220;should,&#8221; &#8220;could,&#8221; &#8220;may&#8221; or other similar expressions in
this prospectus. These statements are likely to address our growth strategy, financial results and product and development programs. You
must carefully consider any such statements and should understand that many factors could cause actual results to differ from our forward-looking
statements. These factors may include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that
are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially. Factors
that could cause actual results to differ from those discussed in the forward-looking statements include, but are not limited to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">future financial and operating results, including revenues, income, expenditures, cash balances and other
financial items;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">our ability to execute our growth, expansion and acquisition strategies, including our ability to meet
our goals;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">current and future economic and political conditions;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">our expectations regarding demand for and market acceptance of our products and services;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">our expectations regarding our customer base;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">our ability to procure the applicable regulatory licenses in the relevant jurisdictions that we operate
in;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">competition in our industry;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">relevant government policies and regulations relating to our industry;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">our capital requirements and our ability to raise any additional financing which we may require;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">our ability to retain effective intellectual property rights and secure the right to use other intellectual
property that we deem to be essential or desirable to the conduct of our business;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">our ability to hire and retain qualified management personnel and key employees in order to enable us
to develop our business;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">impact of COVID-19 pandemic on our business, results of operations, financial condition and cash flows;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">overall industry and market performance; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">other assumptions described in this prospectus underlying or relating to any forward-looking statements.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We describe material risks,
uncertainties and assumptions that could affect our business, including our financial condition and results of operations, under &#8220;Risk
Factors&#8221; Beginning on page 26  of this prospectus. We base our forward-looking statements on our management&#8217;s beliefs
and assumptions based on information available to our management at the time the statements are made. We caution you that actual outcomes
and results may, and are likely to, differ materially from what is expressed, implied or forecast by our forward-looking statements. Accordingly,
you should be careful about relying on any forward-looking statements. Except as required under the federal securities laws, we do not
have any intention or obligation to update publicly any forward-looking statements after the distribution of this prospectus, whether
as a result of new information, future events, changes in assumptions, or otherwise.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Industry Data and Forecasts</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This prospectus contains certain
data and information that we obtained from various government and private publications. Statistical data in these publications also include
projections based on a number of assumptions. personal care electrical device industries in Hong Kong and greater Asia, may not grow at
the rate projected by market data, or at all. Failure of this industry to grow at the projected rate may have a material and adverse effect
on our business and the market price of Raytech Holding&#8217;s Ordinary Shares. In addition, the new and rapidly changing nature of the
personal care electrical appliance industry results in significant uncertainties for any projections or estimates relating to the growth
prospects or future condition of our industry. Furthermore, if any one or more of the assumptions underlying the market data are later
found to be incorrect, actual results may differ from the projections based on these assumptions. You should not place undue reliance
on these forward-looking statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="a_005"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">ENFORCEABILITY OF CIVIL LIABILITIES</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding is incorporated
in the British Virgin Islands to take advantage of certain benefits associated with being a British Virgin Islands business company, such
as:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">political and economic stability;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">an effective judicial system;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">a favorable tax system;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">the absence of exchange controls or currency restrictions; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">the availability of professional and support services.&#160;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">However, certain disadvantages
accompany incorporation in the British Virgin Islands. These disadvantages include, but are not limited to:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">the British Virgin Islands has a less developed body of securities laws as compared to the United States
and these securities laws provide significantly less protection to investors as compared to the United States; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">British Virgin Islands companies may not have standing to sue before the federal courts of the United
States.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding&#8217;s amended
and restated memorandum and articles of association do not contain provisions requiring that disputes, including those arising under the
securities laws of the United States, between us, Raytech Holding&#8217;s officers, directors and shareholders, be arbitrated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">All of Raytech Holding&#8217;s
assets are located in Hong Kong. In addition, all of Raytech Holding&#8217;s directors and officers are nationals or residents of Hong
Kong. As a result, it may be difficult for investors to effect service of process within the United States upon Raytech Holding or these
persons, or to enforce against Raytech Holding or them judgments obtained in United States courts, including judgments predicated upon
the civil liability provisions of the securities laws of the United States or any state in the United States.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding has appointed
Puglisi &amp; Associates as its agent to receive service of process upon whom process may be served in any action brought against us under
the securities laws of the United States.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Harney Westwood &amp; Riegels,
Raytech Holding&#8217;s British Virgin Islands counsel, and CLKW Lawyers LLP, Raytech Holding&#8217;s Hong Kong counsel, have advised
Raytech Holding that there is uncertainty as to whether the courts of the BVI or Hong Kong would (i) recognize or enforce judgments of
United States courts obtained against Raytech Holding or its directors or officers predicated upon the civil liability provisions of the
securities laws of the United States or any state in the United States or (ii) entertain original actions brought in the British Virgin
Islands or Hong Kong against Raytech Holding or its directors or officers predicated upon the securities laws of the United States or
any state in the United States.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding&#8217;s has
been advised by Harney Westwood &amp; Riegels that the United States and the BVI do not have a treaty providing for reciprocal recognition
and enforcement of judgments of courts of the United States in civil and commercial matters and that a final judgment for the payment
of money rendered by any general or state court in the United States based on civil liability, whether or not predicated solely upon the
U.S. federal securities laws, would not be automatically enforceable in the BVI. Raytech Holding has also been advised by Harney Westwood
&amp; Riegels that the courts of the BVI would treat a final and conclusive monetary judgment for a definitive sum obtained against us
in the U.S. federal or state courts as a cause of action in itself and sued upon as a debt at common law so that no retrial of the issues
would be necessary provided that (a) such U.S. federal or state courts had jurisdiction in the matter and we either submitted to such
jurisdiction or was resident or carrying on business within such jurisdiction and was duly served with process, (b) the judgment given
by such U.S. federal or state courts was not in respect of penalties, fines, taxes or similar fiscal or revenue obligations, (c) in obtaining
judgment there was no fraud on the part of the person in whose favour judgment was given or on the part of such U.S. federal or state
courts, (d) recognition or enforcement in the BVI would not be contrary to public policy, and (e) the proceedings pursuant to which judgment
was obtained were not contrary to the principles of natural justice.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">CLKW Lawyers LLP, Raytech
Holding&#8217;s Hong Kong counsel, has further advised Raytech Holding that foreign judgments of United States courts will not be directly
enforced in Hong Kong as there are currently no treaties or other arrangements providing for reciprocal enforcement of foreign judgments
between Hong Kong and the United States. However, the common law permits an action to be brought upon a foreign judgment. That is to say,
a foreign judgment itself may form the basis of a cause of action since the judgment may be regarded as creating a debt between the parties
to it. In a common law action for enforcement of a foreign judgment in Hong Kong, the enforcement is subject to various conditions, including
but not limited to, that the foreign judgment is a final judgment conclusive upon the merits of the claim, the judgment is for a liquidated
amount in civil matter and not in respect of taxes, fines, penalties, or similar charges, the proceedings in which the judgment was obtained
were not contrary to natural justice, and the enforcement of the judgment is not contrary to public policy of Hong Kong. Such a judgment
must be for a fixed sum and must also come from a &#8220;competent&#8221; court as determined by the private international law rules applied
by the Hong Kong courts. The defenses that are available to a defendant in a common law action brought on the basis of a foreign judgment
include lack of jurisdiction, breach of natural justice, fraud, and contrary to public policy. However, a separate legal action for debt
must be commenced in Hong Kong in order to recover such debt from the judgment debtor. As a result, subject to the conditions with regard
to enforcement of judgments of United States courts being met, including but not limited to the above, a foreign judgment of the United
States of civil liabilities predicated solely upon the federal securities laws of the United States or the securities laws of any State
or territory within the United States could be enforceable in Hong Kong.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="a_006"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">USE OF PROCEEDS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We estimate that we will receive
net proceeds from this offering of approximately $[&#9679;], assuming the sale of 30,000,000 Ordinary Shares we are offering, after deducting
the Placement agent&#8217;s fees, the non-accountable expense allowance, and estimated offering expenses payable by us.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding plans to use
the net proceeds we receive from this offering for the following purposes:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold">Use of Proceeds</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: Black 1.5pt solid; white-space: nowrap; font-weight: bold; text-align: center">Percentage<br/>
&#160;of the net<br/> proceeds</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-align: left">Potential Acquisitions and Investments</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">30</td><td style="width: 1%; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Trading Business Expansion Plans</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">30</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Marketing, Sales and Product Development</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">20</td><td style="text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">General Working Capital</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">20</td><td style="text-align: left">%</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of this prospectus date, we have no specific acquisition or investment targets, agreements, or commitments. We intend to seek complementary
businesses, technologies, or assets that expand our market reach or offer other strategic benefits, primarily focusing on targets within
the personal care industry.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The foregoing represents our
current intentions based upon our present plans and business conditions to use and allocate the net proceeds of this Offering. Our management,
however, will have significant flexibility and discretion to apply the net proceeds of this Offering. If an unforeseen event occurs or
business conditions change, we may use the proceeds of this Offering differently than as described in this prospectus. To the extent that
the net proceeds Raytech Holding receive from this Offering are not immediately used for the above purposes, we intend to invest our net
proceeds in short-term, interest-bearing bank deposits or debt instruments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">In relation to our IPO of 1,500,000 Class
A Ordinary Shares which were sold at an offering price of $4.00 per share, we received aggregate gross proceeds of $6.0 million from the
IPO, before deducting underwriting discounts and other related expenses.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have earmarked and have been using the proceeds of the IPO as follows: 25% on
brand promotion and marketing; 25% on recruitment of talented personnel; 25% on strategic investments and acquisitions; and 25% on general
working capital.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="a_007"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DIVIDEND POLICY</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the BVI Act and
Raytech Holding&#8217;s amended and restated memorandum and articles of association, Raytech Holding&#8217;s board of directors may authorize
and declare a dividend to shareholders at such time and of such an amount as they think fit if they are satisfied, on reasonable grounds,
that immediately following the dividend the value of Raytech Holding&#8217;s assets will exceed its liabilities and Raytech Holding will
be able to pay its debts as they become due. There is no further BVI statutory restriction on the amount of funds which may be distributed
by us by dividend.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Since its IPO, Raytech Holdings
has not declared any dividends. If Raytech Holding determines to pay dividends on any of Raytech Holding&#8217;s Ordinary Shares in the
future, as a holding company, Raytech Holding will be dependent on receipt of funds from its Hong Kong subsidiary Pure Beauty. Under the
current practice of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by Raytech
Holding.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding currently
intends to retain all available funds and future earnings, if any, for the operation and expansion of our business and does not anticipate
declaring or paying any dividends in the foreseeable future. Any future determination related to Raytech Holding&#8217;s dividend policy
will be made at the discretion of Raytech Holding&#8217;s board of directors after considering Raytech Holding&#8217;s financial condition,
results of operations, capital requirements, contractual requirements, business prospects and other factors the board of directors deems
relevant, and subject to the restrictions contained in any future financing instruments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If Raytech Holding determines
to pay dividends on any of Raytech Holding&#8217;s Ordinary Shares in the future, as a holding company, Raytech Holding will be dependent
on receipt of funds from its Hong Kong subsidiary, Pure Beauty.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Cash dividends, if any, on
Raytech Holding&#8217;s Ordinary Shares will be paid in U.S. dollars.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the current practice
of the Inland Revenue Department of Hong Kong, no tax is payable in Hong Kong in respect of dividends paid by Raytech Holding. See &#8220;<i>Taxation
- Hong Kong Profits Taxation</i>.&#8221; on page  121 of this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>


</div><!-- Field: Page; Sequence: 67; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->59<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="a_008"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CAPITALIZATION</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
Raytech Holding&#8217;s capitalization as of September 30, 2024:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font: bold 10pt Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">on an actual basis;</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in"><span style="font: bold 10pt Times New Roman, Times, Serif">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">on an actual basis, in US dollars; and</span></td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.5in; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&#160;</span></td>
    <td style="width: 0.25in; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">&#9679;</span></td>
    <td style="text-align: justify; font-size: 12pt"><p style="margin: 0pt 0; font: 10pt Times New Roman, Times, Serif">on an as adjusted basis to reflect the issuance and sale of the Ordinary
Shares by us in this offering, after deducting placement agent fees, the non-accountable expense allowance, and estimated offering expenses
payable by Raytech Holding.</p></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The pro forma information
below is illustrative only, and our capitalization following the completion of this offering is subject to adjustment based on the actual
net proceeds to us from the offering. You should read this capitalization table in conjunction with &#8220;<i>Use of Proceeds</i>&#8221;
in this prospectus, and &#8220;<i>Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operation</i>&#8221;
and the consolidated financial statements and the related notes appearing elsewhere in this prospectus.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Actual</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold">Shareholders&#8217; equity:</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; width: 64%; text-align: left">Ordinary Shares, US$0.00000625 par value,
    8,000,000,000 Ordinary Shares authorized, 16,000,000 shares and 17,613,083 shares issued and outstanding as of March 31, 2024 and
    September 30, 2024, respectively, as adjusted <sup>(2)</sup></td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">862</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">110</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">&#160;[&#9679;]</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Additional paid-in capital</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">37,717,487</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">4,854,683</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;[&#9679;]</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Retained earnings</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">35,627,336</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">4,585,656</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">&#160;[&#9679;]</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Total shareholders&#8217; equity</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">73,345,685</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right">9,440,449</td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">[&#9679;]</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.25in">(1)</td><td style="text-align: justify">The as-adjusted information discussed above is illustrative only. Our additional paid-in capital, total shareholders&#8217; equity,
and total capitalization following the completion of this offering are subject to adjustment based on the actual public offering price
and other terms of this offering determined at pricing.</td></tr></table><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">(2)</span></td>
    <td style="text-align: justify; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">The
    number of ordinary shares to be outstanding after the offering is based on 17,613,083, which is the number of shares outstanding
    on September 30, 2024.</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in">&#160;</p><div>


</div><!-- Field: Page; Sequence: 68; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->60<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="a_009"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DILUTION</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If you invest in our Ordinary Shares in this offering, your interest
will be diluted immediately to the extent of the difference between the offering price per Ordinary Share you pay and the pro forma as
adjusted net tangible book value per Ordinary Share after this offering. Dilution results from the fact that the offering price per Ordinary
Share is substantially in excess of the net tangible book value per Ordinary Share attributable to Raytech Holding&#8217;s existing shareholders
for our presently issued and outstanding Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Raytech Holding&#8217;s net tangible book
value as of September 30, 2024 was approximately $9,440,449, or $0.54 per Ordinary Share. Net tangible book value per Ordinary Share represents
the amount of Raytech Holding&#8217;s total consolidated tangible assets, less the amount of our total consolidated liabilities, divided
by the total number of Raytech Holding&#8217;s Ordinary Shares outstanding as of September 30, 2024.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">After giving further effect to Raytech
Holding&#8217;s sale of 30,000,000 Ordinary Shares in this offering at a price $[&#9679;], and after deducting estimated offering expenses
payable by Raytech Holding, Raytech Holding&#8217;s pro forma as adjusted net tangible book value as of September 30, 2024 is $[&#9679;],
or $[&#9679;] per Ordinary Share. This represents an immediate increase in as adjusted net tangible book value per Ordinary Share of $[&#9679;]
to our existing shareholders and an immediate dilution in as adjusted net tangible book value per Ordinary Share of $[&#9679;] to new
investors purchasing Ordinary Shares in this offering.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table illustrates
this dilution on a per Ordinary Share basis.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; padding-bottom: 1.5pt">&#160;</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td>
    <td colspan="2" style="white-space: nowrap; border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"><b>Per Share <br/>
Post-Offering <sup>(1)</sup></b></td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 88%; text-indent: -9pt; padding-left: 9.25pt">Assumed public offering price per ordinary share</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;[&#9679;</td><td style="width: 1%; text-align: left">]</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -9pt; padding-left: 9.25pt">Net tangible book value per Ordinary Share as of September 30, 2024</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">0.54</td><td style="text-align: left"/></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; text-align: left; padding-left: 9.25pt">Increase in pro forma as adjusted net tangible book value per Ordinary Share attributable to new investors purchasing Ordinary Shares in this offering</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">[&#9679;</td><td style="text-align: left">]</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9.25pt">Pro forma as adjusted net tangible book value per Ordinary Share after
this offering</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">[&#9679;</td><td style="text-align: left">]</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; text-indent: -9pt; padding-left: 9.25pt">Dilution per Ordinary Share to new investors in this offering</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">[&#9679;</td><td style="text-align: left">]</td></tr>
  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; border-collapse: collapse; font-family: Arial, Helvetica, Sans-Serif; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">(1)</span></td>
    <td style="text-align: justify; font-size: 12pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; font-style: normal; font-weight: normal">Assumes
    net proceeds of $[&#9679;] from this offering of 30,000,000 Ordinary Shares, calculated as follows: $[&#9679;] gross offering proceeds,
    less placement agent fees of $[&#9679;], the non-accountable expense allowance of $[&#9679;], accountable out-of-pocket expenses
    of $[&#9679;], and other offering expenses of approximately $[&#9679;].</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">To the extent that we issue additional Ordinary Shares in the future, there
will be further dilution to new investors participating in this offering.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table summarizes,
on an as adjusted basis as of September 30, 2024, the differences between existing shareholders and the new investors, the total consideration
paid and the average price per Ordinary Share before deducting the estimated fees to the placement agent and the estimated offering expenses
payable by Raytech Holding:</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="font-family: Times New Roman,serif; text-align: center">&#160;</td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-family: Times New Roman,serif; text-align: center"><span style="font-size: 10pt"><b>Ordinary <br/>
Shares purchased</b></span></td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</td>
    <td colspan="6" style="border-bottom: black 1.5pt solid; font-family: Times New Roman,serif; text-align: center"><span style="font-size: 10pt"><b>Total consideration</b></span></td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</td>
    <td colspan="2" style="padding-bottom: 1.5pt; font-family: Times New Roman,serif; text-align: center"><span style="font-size: 10pt"><b>Average<br/>
price per<br/>
ordinary</b></span></td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="font-family: Times New Roman,serif; text-align: center">&#160;</td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</td>
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    <td style="width: 1%; font-family: Times New Roman,serif">&#160;</td>
    <td style="width: 1%; font-family: Times New Roman,serif"><span style="font-size: 10pt">$</span></td>
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    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">&#160;</td>
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    <td style="text-align: right; border-bottom: black 1.5pt solid; font-family: Times New Roman,serif"><span style="font-size: 10pt">[&#9679;</span></td>
    <td style="padding-bottom: 1.5pt; font-family: Times New Roman,serif">]</td>
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    <td style="border-bottom: black 1.5pt solid; font-family: Times New Roman,serif">&#160;</td>
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    <td style="border-bottom: Black 4pt double; font-family: Times New Roman,serif">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right"><span style="font-size: 10pt">&#160;100</span></td>
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    <td style="padding-bottom: 4pt; font-family: Times New Roman,serif">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-family: Times New Roman,serif"><span style="font-size: 10pt">$</span></td>
    <td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman,serif"><span style="font-size: 10pt">[&#9679;</span></td>
    <td style="padding-bottom: 4pt; font-family: Times New Roman,serif">]</td>
    <td style="padding-bottom: 4pt; font-family: Times New Roman,serif">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-family: Times New Roman,serif">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-family: Times New Roman,serif; text-align: right"><span style="font-size: 10pt">&#160;100</span></td>
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    <td style="padding-bottom: 4pt; font-family: Times New Roman,serif">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-family: Times New Roman,serif"><span style="font-size: 10pt">$</span></td>
    <td style="border-bottom: Black 4pt double; text-align: right; font-family: Times New Roman,serif"><span style="font-size: 10pt">[&#9679;</span></td>
    <td style="padding-bottom: 4pt; font-family: Times New Roman,serif">]</td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="a_010"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">CORPORATE HISTORY AND STRUCTURE</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our Corporate History</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pure Beauty was incorporated under the laws of Hong Kong with limited
liability on April 15, 2013 and Raytech Holding&#8217;s Chairman and CEO, Mr. Ching is the founder. In order to prepare for its initial
public offering, a series of restructure actions were taken. In June 2022, Raytech Holding was incorporated under the laws of the British
Virgin Islands with the sole purpose being a holding company of Pure Beauty. Upon incorporation, Raytech Holding issued 100 founder shares
of ordinary shares, par value $1.00 per share, to Mr. Ching (90 shares) and other minority shareholders (collectively 10 shares) at $1.00
per share. In August 2022, Mr. Ching, as the sole member of Pure Beauty, transferred all outstanding 10,000 shares of Pure Beauty held
by him to Raytech Holding, in conjunction with which, Pure Beauty issued additional 790,000 shares to Raytech Holding; resulting in Raytech
Holding being the parent company of Pure Beauty, holding a total of 800,000 shares in Pure Beauty. In September 2022, Mr. Ching subsequently
transferred 5 shares of Raytech Holding to APTC Holdings Limited, a British Virgin Islands company, and 5 shares of Raytech Holding to
Mr. Ling Chun Yin, a director of Raytech Holding and the Assistant to CEO of Pure Beauty at $1.00 per share.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 10, 2023, we filed
our amended and restated memorandum and articles of association with the Registrar of Corporate Affairs in the British Virgin Islands
to increase our authorized shares from 50,000 Ordinary Shares, par value of $1.00 per share, to 8,000,000,000 Ordinary Shares, par value
of $0.00000625 per share and effectuated a forward split of all issued and outstanding shares at a ratio of 160,000-for-1.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In August 2023, Market Tycoon
Investments Limited transferred 480,000 Ordinary Shares to Mr. Wong Tai Chi at $0.00000625 per share, and APTC Holdings Limited transferred
800,000 Ordinary Shares to Ms. Look Wai Yi at $0.00000625 per share. In October 2023, Value Classic Global Limited transferred 640,000
Ordinary Shares to Crystal Charm Investments Limited, a British Virgin Islands company, at $0.00000625 per share, Mr. Wong Tai Chi transferred
480,000 Ordinary Shares to Value Crystal Investment Limited, a British Virgin Islands company, at $0.00000625 per share, and Ms. Look
Wai Yi transferred 800,000 Ordinary Shares to Ace Challenger Limited, a British Virgin Islands company, at $0.00000625 per share.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 17, 2024, we consummated
the sale of 1,500,000 Ordinary Shares (the &#8220;IPO Shares&#8221;) in our initial public offering. The Company completed the IPO on
a firm commitment basis pursuant to the Company&#8217;s registration statement on Form F-1, as amended (File No. 333-275197), filed with
the Securities and Exchange Commission, which was declared effective by the Securities and Exchange Commission on May 13, 2024. The IPO
Shares were priced at $4.00 per share. The Company also granted the underwriter a 45-day option to purchase up to an additional 225,000
Ordinary Shares to cover over-allotments, if any (the &#8220;Over-Allotment Option&#8221;). The Ordinary Shares were approved for listing
on The Nasdaq Capital Market on May 13, 2024 and commenced trading under the symbol &#8220;RAY&#8221; on May 15, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 5, 2024, upon the
underwriter&#8217;s partial exercise of the Over-Allotment Option, the Company sold an additional 113,083 Ordinary Shares at $4.00 per
share. As a result, the Company has raised gross proceeds of $6,452,332 in the IPO, including the partial exercise of the Over-Allotment
Option, before deducting underwriting discounts and offering expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 6, 2025, the
Company established a new, directly wholly-owned subsidiary, Raytech Innovation Limited, incorporated in Hong Kong. As of the date of
this prospectus, Raytech Innovation Limited has not commenced operations and has no assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Corporate Structure</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following diagram illustrates
our corporate structure as of the date of this prospectus:</p><div>




</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><img alt="" src="image_002.jpg"/></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="a_011"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS
OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>The following discussion
and analysis of our financial condition and results of operations should be read in conjunction with Raytech Holding&#8217;s&#160;consolidated
financial statements and related notes included elsewhere in this prospectus. This discussion and analysis and other parts of this prospectus
contain forward-looking statements based upon current beliefs, plans and expectations that involve risks, uncertainties, and assumptions.
Raytech Holding&#8217;s actual results and the timing of selected events could differ materially from those anticipated in these forward-looking
statements as a result of several factors, including those set forth under &#8220;Risk Factors&#8221; and elsewhere in this prospectus.
You should carefully read the &#8220;Risk Factors&#8221; section of this prospectus to gain an understanding of the important factors
that could cause actual results to differ materially from our forward-looking statements.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b>&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Overview&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Leveraging our expertise in
the personal care electrical appliance industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through
Raytech Holding&#8217;s wholly-owned subsidiary in Hong Kong, Pure Beauty, we principally engage in the sourcing and wholesaling of personal
care electrical appliances for international brand owners. We also provide product design and development collaboration as a value-added
service for our customers. Our customers are brand owners of personal care electrical appliances who market and sell their personal care
electrical appliances products to end consumers. Commencing our operation in 2013, we have accumulated over 10 years of experience in
the industry.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Over years of operation, we
have sourced and wholesaled a wide range of personal care electrical appliances, which can be broadly classified into six major categories:
(i) hair styling series, including hair dryer, hair straightener and
curling iron; (ii) trimmer series, including facial shaver, nose trimmer and eyebrow trimmer; (iii) eyelash curler; (iv) nail care series;
(v) tooling; and (vi) other personal care appliance series, including body and facial brush, reset brush, callus remover, sonic peeling,
handy fan and others. In particular, we are specialized in sourcing and wholesaling hair dryers within our hair
styling series which primarily include salon-type hair protection and styling functions or compact design for travel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Our customers are brand owners of personal
care electrical appliances including, Koizumi Corporation Inc, one of the top 10 sellers in terms of retail volume in the personal care
electrical appliance market in Japan as stated in &#8220;Personal Care Appliances in Japan&#8221; by Euromonitor International in December
2023. We maintain long term business relationships with our customers. Leveraging our substantial experience and expertise in the personal
care electrical appliances industry, we believe we are well positioned to maintain our relationships with our current customers, and explore
our market share in the U.S., Europe and other Asia markets in the near future.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Since our inception, our business has
continued to generate revenues and positive profits. Our revenue increased significantly from HKD33,017,199 for the six months ended September
30, 2023 to HKD43,248,906 (US$5,566,641) for the six months ended September 30, 2024, representing an increase of 31.0%. Our net income
decreased from HKD6,418,069 for the six months ended September 30, 2023 to HKD4,652,035 (US$598,771) for the six months ended September
30, 2024, representing a decrease of 27.5%, mainly due to an increase in IPO related professional expenses.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Key Factors that Affect Results of Operations&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our results of operations
have been and will continue to be affected by a number of factors, including those set out below:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b>&#160;&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Competition from other sellers in the market</i>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The personal care electric
appliances sourcing market is relatively fragmented and competitive. We primarily compete with other sourcing offices in the industry
and indirectly compete with manufacturers based in South Asia. We compete based on our product quality, research and development capabilities,
established customer relationships and our experienced management team. Our current and future competitors may have longer operating histories,
larger and more established customer bases, better manufacturer relationships, better supply chain capabilities, or greater financial,
technical, or marketing resources than we do. Competitors may leverage their experience and resources to compete with us in a variety
of ways, including investing more heavily in sales and marketing, adopting more aggressive pricing strategies, and making acquisitions
for the expansion of their products. There can be no assurance that we will be able to compete successfully against current or future
competitors, and such competition may have a material adverse impact on our business, financial condition, and results of operation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><b><i>&#160;</i></b>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our ability to retain existing customers and attract new customers</i>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our success depends on our
ability to maintain good relationships with our existing customers and increase sales to them over time, as a significant amount of current
net revenue is generated from sales to a limited number of existing customers. If we are unable to satisfy our existing customer needs
in terms of product quality or service level, our business transactions with our customers may decline, and our operating results and
financial conditions would be adversely impacted in a material manner.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, our future success
depends in part on our ability to attract new customers and continue to expand our customer base. In order to attract new customers, we
must increase our investment in sales and marketing function across markets and recruit the right talent to drive the expansion efforts.
Such investment and recruitment activities may not necessarily yield an increase in revenue, and even if they do, the expenses we will
incur may more than offset any increase in revenue, which would harm our business, financial condition, and growth prospects.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b>&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Our ability to manage costs of raw materials or transportation</i>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Changes in the costs of raw
materials or transportation indirectly affect our cost structure. Any increase in production costs may be passed on to us, but we might
not be able to pass on all or any part of the subsequent increase in costs to our customers, which may have a material adverse effect
on our financial performance. We do not have long-term contracts with third-party contract manufacturers and raw material vendors. We
usually enter into fixed-price contracts with vendors and agree on raw materials pricing concurrently with our acceptance of each customer
order, but in some cases a short time gap may be inevitable. Where market forces drive up raw material costs, we may from time to time
fail to negotiate price terms that are advantageous to us and hence put pressure on our profit margin.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b>&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>A downturn in general economic conditions </i>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The majority of our revenue
was derived from sales to the Japanese consumer market, with future expansion strategies into the U.S., Europe and Asia market. In recent
years, the global economic indicators have shown mixed signs, and the future growth of the economies are subject to many factors beyond
our control. A downturn in the economy could adversely impact consumer purchases of discretionary items such as personal care electric
appliances. Factors that could affect consumers&#8217; willingness to make such discretionary purchases include general business conditions,
levels of employment, interest rates and tax rates, the availability of consumer credit, and consumer confidence in future economic conditions.
In the event of an economic downturn, we could experience lower than expected net sales, which could force us to delay or slow our growth
strategy and have a material adverse effect on our business, financial condition, profitability, and cash flow.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b>&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Economic, political and social conditions in mainland China
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our key operations are in
Hong Kong. However, due to the long arm provisions under the current laws and regulations of mainland China, the PRC government may exercise
significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time, which
could result in a material change in our operations and/or the value of Raytech Holding&#8217;s Ordinary Shares. Accordingly, our business,
prospects, financial condition, and results of operations may be influenced to a significant degree by the political, economic, and social
conditions in the PRC generally and by the continued economic growth in mainland China as a whole. Accordingly, our results of operations
and prospects are, to a significant degree, subject to economic, political, and legal developments in the PRC.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Hong Kong is a special administrative
region of the PRC and the basic policies of the PRC regarding Hong Kong are reflected in the Basic Law, namely, Hong Kong&#8217;s constitutional
document, which provides Hong Kong with a high degree of autonomy and executive, legislative and independent judicial powers, including
that of final adjudication under the principle of &#8220;one country, two systems&#8221;. However, there is no assurance that there will
not be any changes in the economic, political, and legal environment in Hong Kong in the future. Since our operation is based in Hong
Kong, any change of such political arrangements may pose immediate threat to the stability of the economy in Hong Kong, thereby directly
and adversely affecting our results of operations and financial positions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Results of Operations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>For the Six Months ended September 30, 2024,
compared to Six Months Ended September 30, 2023</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
a summary of the consolidated results of operations of us for the periods indicated, both in absolute amount and as a percentage of its
total revenues.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 24px"><i>*</i></td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"><i>&#160;</i></p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->66<!-- Field: /Sequence --></p></div><div>
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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Revenue</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the&#160;six months ended
September 30, 2023, and 2024, we generated our revenue primarily through sales of personal care products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

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(US$5,566,641) for the six months ended September 30, 2024 from HKD33,017,199 for the six months ended September 30, 2023. The increase
was principally driven by an increase in sales in our trimmer series within our personal care products, which are mostly driven by engaging
new customers.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2023, and 2024, we generated significant sales to our two key customers. These customers are a Japanese corporation and a multi-national
corporation, respectively, both with established global brands across a myriad of sectors, including but not limited to, beauty, audio
and electric cooking and home appliances.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Merchandise costs</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table shows
segregated merchandise costs by major cost items for the six months ended September 30, 2023 and 2024, respectively:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">4,907,700</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">869,796</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our merchandise costs increased
by 40.3% to HKD34,100,724 (US$4,389,163) for the six months ended September 30, 2024 from HKD24,305,564 for the six months ended September
30, 2023. The increase was in line with our increase in sales of products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the&#160;six months ended
September 30, 2023 and 2024, our selling, general and administrative expenses consisted of staff costs, rental expenses, transport and
travelling, selling and marketing, depreciation, legal and professional fees and auditor&#8217;s remuneration. The following table sets
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Staff costs</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our staff costs increased
by 1,123.4% to HKD1,659,978 (US$213,659) for the six months ended September 30, 2024 from HKD135,684 for the six months ended September
30, 2023 mainly due to an increase in salaries and the addition of compensation fees for audit committee members.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Rental expenses</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our rental expenses mainly
represented rental expenses for Hong&#160;Kong office. Our rental and office expenses were HKD150,000 and HKD150,000 (US$19,307) for the
six months ended September 30, 2023 and 2024, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Transport and travelling</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

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September 30, 2023, and 2024, our transport and travelling consisted of motor vehicle running cost, travel and communication expenses
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travel for professional parties relating to the IPO.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Selling and marketing</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the&#160;six months ended
September 30, 2023 and 2024, our selling and marketing expenses decreased by 73.6% from HKD46,167 for the six months ended September 30,
2023 to HKD12,206 (US$1,571) for the six months ended September 30, 2024. The decrease was principally driven by lower marketing expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Depreciation</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our depreciation mainly represented
depreciation for our property and equipment. Our depreciation for our property and equipment decreased from HKD54,214 for the six months
ended September 30, 2023 to nil for the six months ended September 30, 2024 due to our property and equipment having fully depreciated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Legal and professional fees</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our legal and professional
fees increased by 22287.4% to HKD1,187,649 (US$152,864) for the six months ended September 30, 2024 from HKD5,305 for the six months ended
September 30, 2023, primarily due to an increase in IPO-related expenses, such as service fees for legal counsel and investor relations
service provider.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Others</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our other general and administrative
expenses mainly consisted of bank charges, cleaning charges, courier and postage, insurance, printing and stationery and other miscellaneous
expenses. Our other general and administrative expenses increased to HKD73,473 (US$9,457) for the six months ended September 30, 2024
from HKD68,788 for the six months ended September 30, 2023 due primarily to an increase in bank charges.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;<b><i>&#160;</i></b></p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Income from operations and margin</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our overall income from operations
decreased by 43.7% to HKD3,918,723 (US$504,385) for the six months ended September 30, 2024 from HKD6,960,104 for the six months ended
September 30, 2023, primarily due to the increase in IPO-related expenses. Our overall gross profit margin decreased by 5.2% to 21.2%
for the six months ended September 30, 2024 from 26.4% for the six months ended September 30, 2023, primarily due to the lower margin
profiles for a new customer and fewer sales of tooling.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Provision for income tax expense</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

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to HKD290,920 (US$37,445) for the six months ended September 30, 2024 and amounted to HKD1,139,449 for the six months ended September
30, 2023. We are subject only to the Hong Kong corporate tax regime. Starting with the fiscal year commencing on April 1, 2018, the two-tiered
profits tax regime in Hong Kong took effect, under which the tax rate is 8.25% for assessable profits on the first HKD2,000,000 profit
generated by the Company in a fiscal year and 16.5% for any assessable portion of our profits exceeding HKD2,000,000 in a fiscal year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Net income</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

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27.5% to HKD4,652,035 (US$598,771) for the six months ended September 30, 2024 as compared to HKD6,418,069 for the six months ended September
30, 2023. The decrease in net income was predominantly due to an increase in selling, general and administrative expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>For the year ended March 31, 2023 compared
to year ended March 31, 2024</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
a summary of the consolidated results of operations of us for the periods indicated, both in absolute amount and as a percentage of our
total revenues.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->69<!-- Field: /Sequence --></p></div><div>
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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Revenue</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">28,202,591</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">-</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the years ended March
31, 2023 and 2024, we generated our revenue primarily through sales of personal care products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our revenue increased by 47.1%
to HKD66,972,301 (US$8,557,776) for the year ended March 31, 2024 from HKD45,518,239 for the year ended March 31, 2023. The increase was
principally driven by a significant increase in sales in our hair styling series and new tooling revenue generated from manufacturing
multiple tools, molds and assembly equipment as part of tooling program for our customers, which are mostly driven by engaging new customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the years ended March
31, 2023 and 2024, we generated significant sales to our key customer. This key customer is a Japanese corporate with established global
brands across a myriad of sectors, including but not limited to, beauty, audio and electric cooking and home appliances.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Merchandise costs </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table shows
disaggregated merchandise costs by major cost items for the years ended March 31, 2023 and 2024, respectively:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">4,907,700</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">627,110</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">2,123,786</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our merchandise costs increased
by 52.9% to HKD52,067,436 (US$6,653,220) for the year ended March 31, 2024 from HKD34,046,287 for the year ended March 31, 2023. The increase
was in line with the increase in our revenue.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>Selling, general and administrative expenses</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the years ended March
31, 2023 and 2024, our selling, general and administrative expenses consisted of staff costs, rental expenses, transport and travelling,
selling and marketing, depreciation, legal and professional fees, auditor&#8217;s fees and consulting fees. The following table sets forth
a breakdown of our general and administrative expenses for the years ended March 31, 2023 and 2024:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">91,684</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">300,000</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">183,875</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">54,813</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">123,820</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">11,544</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">31,322</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">72,003</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">9,201</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">1,665,093</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Staff costs</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our staff costs decreased
by 1.0% to HKD717,506 (US$91,684) for the year ended March 31, 2024 from HKD724,693 for the year ended March 31, 2023 mainly due to that
there was a resignation during the year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Rental expenses</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our rental expenses mainly
represented rental expenses for our Hong Kong office. Our rental and office expenses remain unchanged at HKD300,000 (US$38,334) for the
years ended March 31, 2023 and 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Transport and travelling </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">For the years ended March 31,
2023 and 2024, our transport and travelling expenses increased by 133.3%, from HKD183,875 to HKD428,962 (US$54,813), primarily due to
an increase in business travel.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Selling and marketing</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the years ended March
31, 2023 and 2024, our selling and marketing expenses decreased by 0.7% from HKD124,641 for the years ended March 31, 2023 to HKD123,820
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Depreciation</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our depreciation mainly represented
depreciation for our property and equipment. Our depreciation for our property and equipment decreased from HKD116,496 for the year ended
March 31, 2023 to HKD90,345 (US$11,544) for the year ended March 31, 2024 due to the lower depreciation of our property and equipment
for the current period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Legal and professional fees</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our legal and professional
fees increased by 129.9% to HKD72,003 (US$9,201) for the year ended March 31, 2024 from HKD31,322 for the year ended March 31, 2023, primarily
due to incurring expenses in connection with the business restructuring for the preparation of public listing.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Others</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our other general and administrative
expenses mainly consisted of bank charges, cleaning charges, courier and postage, insurance, printing and stationery and other miscellaneous
expenses. Our other general and administrative expenses increased to HKD147,640 (US$18,865) for the year ended March 31, 2024 from HKD126,102
for the year ended March 31, 2023 due primarily to an increase in printing and stationery expenses, insurance, utilities and bank charges
caused by inflation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our overall income from operations
increased by 57.9% to HKD11,359,496 (US$1,451,526) for the year ended March 31, 2024 from HKD7,194,275 for the year ended March 31, 2023.
The increase was principally driven by a significant increase in sales in our hair styling series and new tooling revenue generated from
manufacturing multiple tools, molds and assembly equipment as part of tooling program for our customers as well as engaged new customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Provision for income tax expense</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are subject only to Hong
Kong corporate tax regime. Hong Kong&#8217;s corporate tax rate is 16.5% for taxable income earned in Hong Kong. Our income tax expenses
amounted to HKD2,817,000 (US$359,959) for the year ended March 31, 2024 and amounted to HKD1,181,056 for the year ended March 31, 2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Net income </i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our net income increased by
57.9% to HKD9,936,794 (US$1,269,732) for the year ended March 31, 2024 as compared to HKD6,292,870 for the year ended March 31, 2023.
The increase in net income was predominantly due to an increase in revenue and interest income and a decrease in selling, general and
administrative expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>LIQUIDITY AND CAPITAL RESOURCES</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
a breakdown of our current assets and liabilities as of the dates indicated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">14,557,523</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">1,855,686</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">104,085</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">5,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">24,278,340</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">20,418,181</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Accounts receivable, net</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accounts receivable represented
receivables from our customers arising from our sales. We generally grant our customers a credit period ranging from 30 to 120&#160;days,
depending on their reputation, transaction history and the products purchased. Our accounts receivable decreased by 7.4% to HKD13,476,241
(US$1,734,550) as of September 30, 2024 from HKD14,557,523 as of March 31, 2024, which was primarily driven by a decrease in the number
of orders near September.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the period from April
1, 2024 to September 30, 2024, we have not recorded any provision for doubtful accounts as our customers have always settled full payments
within the credit periods or short extended credit periods.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management regularly reviews
outstanding accounts and provides an allowance for doubtful accounts. When collection of the original invoice amounts is no longer probable,
we will either partially or fully write-off the balance against the allowance for doubtful accounts. In establishing the required allowance
for doubtful accounts, management considers historical collection experience, aging of the receivables, the economic environment, industry
trend analysis, and the credit history and financial conditions of the customers. Our management reviews its receivables on a regular
basis to determine if the bad debt allowance is adequate and adjusts the allowance when necessary. Delinquent account balances are written-off
against allowance for doubtful accounts after all means of collection have been exhausted and that the likelihood of collection is not
probable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Merchandise inventories, net</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our inventories represented
products that we sourced and sell to our customers. Our inventories increased to HKD1,135,068 (US$146,096) as of September 30, 2024 from
HKD1,855,686 as of March 31, 2024. We record goods in transit based on freight on board destination.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Taxes receivables</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our taxes receivables were
HKD104,085 (US$13,397) as of September 30, 2024, compared to our taxes receivables of HKD395,005 as of March 31, 2024.<b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Amount due from a director</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The amounts are due from a
shareholder, Mr. Ching Tim Hoi. The amounts due from a shareholder decreased to nil as of September 30, 2024 from HKD145,166 as of March
31, 2024 due to the shareholder having fully repaid the amount.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The receivable represented
payments made on behalf of the director and shareholder by Pure Beauty. The loan agreement provides that borrowings are interest free
and are payable on demand.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Prepayments</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our prepayments remained HKD5,000
(US$644) as of September 30, 2024 from HKD5,000 as of March 31, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Accounts payable and account payable &#8211;
related party</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our total accounts payable
are mainly related to the purchase of apparel products from our collaborating manufacturers and a related party. Our collaborating manufacturers
usually granted us a credit period of 120 days.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our total accounts payable
decreased by 14.0% to HKD21,517,110 (US$2,769,504) as of September 30, 2024 from HKD25,010,680 as of March 31, 2024 due to fasten payment
to related party during the six months ended September 30, 2024 for cost of tooling.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Accruals</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our accruals decreased to
HKD920,901 (US$118,531) as of September 30, 2024 from HKD1,018,618 as of March 31, 2024, principally due to a decrease in provision for
commissions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Contract liabilities</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Contract liabilities are recognized
if the Company receives consideration in advance of performance, which is mainly in relation to emerging and other services. As of March
31, 2024 and September 30, 2024, the contract liabilities of the Company were HKD1,008,415 and nil.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Cash Flows</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our use of cash is primarily
related to operating activities and payment of dividends. We have historically financed our operations primarily through the cash flow
generated from our operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
a summary of our cash flows information for the&#160;years indicated:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">(Unaudited)<br/> Six months ended September 30,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">21,362,580</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">35,885,666</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">4,618,906</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">16,412,961</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,621,059</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">337,361</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">210,702</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">145,166</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">18,684</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Net cash (used in) generated from financing activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(257,702</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">42,772,241</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">5,505,289</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(377,030</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(48,528</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 2.5pt">Cash at the end of the period</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">37,763,580</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">81,047,102</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">10,431,712</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cash generated from operating activities</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our cash inflow from operating
activities was principally from receipt of sales. Our cash outflow used in operating activities was principally for payment of purchases
of manufactured goods, staff costs and other operating expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2023, net cash generated from operating activities of HKD16,412,961 was primarily resulted from our net income of HKD6,418,069, as
adjusted for non-cash items and change in operating activities. Adjustments for non-cash items consisted of depreciation of property and
equipment of HKD2,928, amortization of right-of-use asset of HKD51,286 and loss from unrealized foreign currency translation of HKD17,918.
Changes in operating assets and liabilities mainly included: (i) a decrease in prepayments of HKD54,000; (ii) an increase in accounts
payable to a related party of HKD12,178,316; and (iii) an increase in taxes payables of HKD1,139,449; and partially offset by (i) an increase
in accounts receivable of HKD654,485; (ii) an increase in merchandise inventories of HKD681,683; (iii) a decrease in accounts payable
of HKD150,807; (iv) a decrease in accruals of HKD203,832; (v) a decrease in contract liabilities of HKD1,705,854; and (vi) a decrease
in operating lease obligation of HKD52,344.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2024, net cash generated from operating activities of HKD2,621,059 (US$337,361) was primarily resulted from our net income of HKD4,652,035
(US$598,771), as adjusted for non-cash items and change in operating activities. Adjustments for loss from unrealized foreign currency
translation accounted for HKD406,530 (US$52,325). Changes in operating assets and liabilities mainly included: (i) a decrease in accounts
receivable of HKD978,597 (US$125,957); (ii) a decrease in merchandise inventories of HKD720,618 (US$92,752); (iii) an increase in accounts
payable of HKD372,876 (US$47,994) and (iv) a decrease in taxes receivables of HKD290,920 (US$37,445); and partially offset by (i) a decrease
in accounts payable to a related party of HKD3,694,385 (US$475,511), (ii) a decrease in contract liabilities of HKD1,008,415 (US$129,795)
and(ii) decrease in accruals of HKD97,717 (US$12,577).&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cash generated from investing activities</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2023, net cash generated from investing activities was HKD210,702, which is driven by a repayment of shareholder.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2024, net cash generated from investing activities was HKD145,166 (US$18,684), which is driven by a repayment of shareholder.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Net cash (used in) generated from financing
activities</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2023, net cash used in financing activities was HKD257,702, which was primarily related to the deferred IPO costs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2024, net cash generated from financing activities was HKD42,772,241 (US$5,505,289), which was primarily related to the proceed from
Initial Public Offering of shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Capital Expenditures</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We did not incur any capital
expenditures for the six months ended September 30, 2023 and 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Off-Balance Sheet Arrangements</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have no off-balance sheet
arrangements, including arrangements that would affect its liquidity, capital resources, market risk support, and credit risk support
or other benefits.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
a breakdown of our current assets and liabilities as of the dates indicated.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">4,585,500</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">6,787,330</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">14,557,523</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">145,166</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Accounts receivable, net</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accounts receivable represented
receivables from our customers arising from our sales. We generally grant our customers a credit period ranging from 30 to 120 days, depending
on their reputation, transaction history and the products purchased. Our accounts receivable increased by 114.5% to HKD14,557,523 (US$1,860,172)
as of March 31, 2024 from HKD6,787,330 as of March 31, 2023, which was primarily driven by an increase in number of orders as well as
engaged new customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">During the period from April
1, 2020 to March 31, 2024, we have not recorded any provision for doubtful accounts as our customers have always settled full payments
within the credit periods or short extended credit periods.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>


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    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our management regularly reviews
outstanding accounts and provides an allowance for doubtful accounts. When collection of the original invoice amounts is no longer probable,
we will either partially or fully write-off the balance against the allowance for doubtful accounts. In establishing the required allowance
for doubtful accounts, management considers historical collection experience, aging of the receivables, the economic environment, industry
trend analysis, and the credit history and financial conditions of the customers. Our management reviews its receivables on a regular
basis to determine if the bad debt allowance is adequate and adjusts the allowance when necessary. Delinquent account balances are written-off
against allowance for doubtful accounts after all means of collection have been exhausted and the likelihood of collection is not probable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Merchandise inventories, net </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our inventories represented
products that we sourced and sold to our customers. Our inventories increased to HKD1,855,686 (US$237,121) as of March 31, 2024 from Nil
balance as of March 31, 2023. The stock level is Nil as of March 31, 2023 as there were no shipments received from our manufacturers since
we turned over our last stocks to our customers. We record goods in transit based on freight on board destination.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Taxes receivables and taxes payables</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our taxes receivables were
HKD395,005 (US$50,474) as of March 31, 2024, compared to our taxes payables of HKD514,007 as of March 31, 2023.<b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Prepayments</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our prepayments were HKD 5,000
(US$639) as of March 31, 2024, primarily attributable to a prepayment for administrative expenses. This represents a decrease of 94.7%
compared to the previous period, as all rental prepayments for office expenses were recognized as rental expenses last year. There were
no such prepayments for the current year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Amount due from a director </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The amounts are due from our
CEO, Chairman, director and controlling shareholder, Mr. Ching Tim Hoi. The amounts due from Mr. Ching decreased by 85.4% to HKD145,166
(US$18,550) as of March 31, 2024 from HKD992,026 as of March 31, 2023 due to repayment from Mr. Ching.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The receivable represented
payments made on behalf of Mr. Ching by Pure Beauty. The loan agreement provides that borrowings are interest-free and are payable on
demand. The amount has been fully settled on June 28, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Accounts payable and account payable - related
party</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our total accounts payable
are mainly related to the purchase of apparel products from our collaborating manufacturers and a related party. Our collaborating manufacturers
usually granted us a credit period of 120 days.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our total accounts payable
increased by 163.2% to HKD25,010,680 (US$3,195,885) as of March 31, 2024 from HKD9,503,948 as of March 31, 2023 principally due to slower
payment to related parties during the year ended March 31, 2024 compared with corresponding period in 2023.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Accruals</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our accruals increased to
HKD1,018,618 (US$130,160) as of March 31, 2024 from HKD616,078 as of March 31, 2023, principally due to an increase in provision for commissions
which is in line with the increase in sales.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->76<!-- Field: /Sequence --></p></div><div>
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</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Cash Flows</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our use of cash is primarily
related to operating activities and deferred initial public offering costs. We have historically financed our operations primarily through
the cash flow generated from our operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
a summary of our cash flows information for the years indicated:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(2,075,897</td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(265,260</td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(157,725</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">491</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">21,362,580</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">35,885,666</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">4,585,500</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cash generated from operating activities</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our cash inflow from operating
activities was principally from receipt of sales. Our cash outflow used in operating activities was principally for payment of purchases
of manufactured goods, staff costs and other operating expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended March 31,
2023, net cash generated from operating activities of HKD10,961,832 primarily resulted from our net income of HKD6,292,870, as adjusted
for non-cash items and change in operating activities. Adjustments for non-cash items consisted of depreciation of property, plant and
equipment and amortization of right-of-use assets of HKD116,497 and unrealized FX loss of HKD178,454. Changes in operating assets and
liabilities mainly included: (i) a net increase in total accounts payable of HKD 4,563,636 due to larger stock purchases; and (ii) an
increase in accrued liabilities and other payables of HKD2,271,932 due to increase in deposits for trades; and partially offset by (i)
an increase in accounts receivable of HKD907,711 due to increase in sales; (ii) an increase in deposits and prepayments of HKD10,200 related
to office lease; (iii) a decrease in operating lease obligation of HKD100,849 due to principal repayment; and (iv) a decrease in taxes
payable of HKD1,442,797.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended March 31,
2024, net cash generated from operating activities of HKD15,748,279 (US$2,012,329) primarily resulted from our net income of HKD9,936,794
(US$1,269,732), as adjusted for non-cash items and change in operating activities. Adjustments for non-cash items consisted of depreciation
of property, plant and equipment and amortization of right-of-use assets of HKD90,345 (US$11,544) and an unrealized foreign exchange gain
of HKD61,043 (US$7,799). Changes in operating assets and liabilities mainly included: (i) a net increase in total accounts payable of
HKD 15,548,943 (US$1,986,857) due to larger stock purchases; and (ii) an increase in accrued liabilities and other payables of HKD402,540
(US$51,437) due to increase in deposits for trades; and partially offset by (i) an increase in accounts receivable of HKD7,755,205 (US$990,967)
due to increase in sales; (ii) an increase in merchandise inventories of HKD1,855,686 (US$237,121); (iii) a decrease in operating lease
obligation of HKD87,972 (US$11,241) due to principal repayments; and (iv) a decrease in taxes payable of HKD119,002 (US$15,206).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Cash generated in investing activities</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended March 31,
2023, net cash generated in investing activities was HKD1,444,872 which is driven by a repayment of director.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended March 31,
2024, net cash generated in investing activities was HKD846,860 (US$108,212), which is driven by a repayment of a director loan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->77<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Net cash used in financing activities</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended March 31,
2023, net cash used in financing activities was HKD3,176,871, which was primarily related to the deferred IPO costs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the year ended March 31,
2024, net cash used in financing activities was HKD2,075,897 (US$265,260), which was primarily related to the deferred IPO costs.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Capital Expenditures</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We did not incur any capital
expenditures for the years ended March 31, 2023 and 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Off-Balance Sheet Arrangements</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have no off-balance sheet
arrangements, including arrangements that would affect its liquidity, capital resources, market risk support, and credit risk support
or other benefits.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Quantitative and Qualitative Disclosure About Market Risk</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Credit risk</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our assets that are potentially
subject to a significant concentration of credit risk primarily consist of cash and accounts receivable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that there is no
significant credit risk associated with cash in Hong&#160;Kong, which were held by reputable financial institutions. As of September 30,
2024, the cash balance of HKD81,047,102 (approximately US$10,431,712) was maintained at financial institutions in Hong&#160;Kong across
3 major reputable banks.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have designed credit policies
with an objective to minimize their exposure to credit risk. Our accounts receivable are short term in nature and the associated risk
is minimal. We conduct credit evaluations on our customers and generally do not require collateral or other security from such customers.
We periodically evaluate the creditworthiness of the existing customers in determining an allowance for doubtful accounts primarily based
upon the age of the receivables and factors surrounding the credit risk of specific customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are also exposed to risk
from accounts receivables. These assets are subjected to credit evaluations. An allowance, where applicable, would make for estimated
unrecoverable amounts which have been determined by reference to past default experience and the current economic environment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Customers concentration risk</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of March 31, 2024, two
customers, who are distributors representing and selling brands of well-known manufacturers from Japan, the U.S., UK, Europe and Australia
accounted for 72.1 % and 27.9% of the Company&#8217;s total accounts receivable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of September 30, 2024,
two customers, who are distributors representing and selling brands of well-known manufacturers from Japan, the U.S., UK, Europe and Australia
accounted for 70.6% and 29.4% of the Company&#8217;s total accounts receivable respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2023, one major customer, who is a distributor representing and selling brands of well-known manufacturers from Japan and abroad,
accounted for 81.1% of the Company&#8217;s total revenues, while another customer, who is a global distributor of various consumer products,
accounted for 17.1% of the Company&#8217;s total revenues.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2024, two major customers, who are distributors representing and selling brands of well-known manufacturers from Japan, the U.S.,
UK, Europe and Australia accounted for 57.8% and 33.7% of the Company&#8217;s total revenues respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;<b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Manufacturers concentration risk</b>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of March 31, 2024, one
manufacturer accounted for 97.1% of the total balance of accounts payable. The manufacturer is a related party. As of September 30, 2024,
one manufacturer accounted for 94.9% of the total balance of accounts payable. The manufacturer is a related party.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2023, one manufacturer accounted for 92.7% of our total purchases. The manufacturer is a related party. For the six months ended September
30, 2024, one manufacturer accounted for 91.5% of our total purchases. The manufacturer is a related party.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Interest rate risk</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our exposure on cash flow
interest rate risk mainly arises from our deposits with banks.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In respect of the exposure
to cash flow interest rate risk arising from floating rate non-derivative financial instruments held by us, such as cash deposits and
bank borrowings, at the end of the reporting period, we are not exposed to significant interest rate risk, as the interest rates are not
expected to change significantly.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Foreign currency risk</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We are exposed to foreign
currency risk primarily through sales that are denominated in a currency other than the functional currency of the operations to which
they relate. The currencies giving rise to this risk are primarily US$. As HKD is currently pegged to US$, our exposure to foreign exchange
fluctuations is minimal.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


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    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><div><a id="a_012"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">BUSINESS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>&#8220;The Company&#8221;, &#8220;we&#8221;, or &#8220;us&#8221; in
this Business section refers to Raytech Holding Limited and its subsidiaries, unless the context otherwise indicates.</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Business Overview&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Leveraging our expertise in the personal care electrical appliance
industry, we aim to promote consumer lifestyles and drive the awareness of personal grooming. Through Raytech Holding&#8217;s wholly-owned
subsidiaries in Hong Kong, we principally engage in the sourcing and wholesaling of personal care electrical appliances for international
brand owners. We also provide product design and development collaboration as a value-added service for our customers. Our current customers
focus on marketing their personal care electrical appliances products mainly in Japan. Commencing our operation in 2013, we have accumulated
over 10 years of experience in the industry.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Our Products</span></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Over years of operation, we
have sourced and wholesaled a wide range of personal care electrical appliances, which can be broadly classified into six major categories:
(i) hair styling series, including hair dryer, hair straightener and curling iron; (ii) trimmer series, including facial shaver, nose
trimmer and eyebrow trimmer; (iii) eyelash curler; (iv) nail care series; (v) tooling and (vi) other personal care appliances such as
body and facial brush, reset brush, callus remover, sonic peeling, handy fan and others. In particular, along with product design and
development collaboration, we are specialized in sourcing and wholesaling hair dryers within our hair styling series which primarily include
salon-type hair protection and styling functions or compact design for travel.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Hair styling series</i>:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our sales of hair styling
series constituted 62% and 48% of our total revenue for the years ended March 31, 2023 and 2024, respectively. Approximately 44% and 37%
of our sale of hair styling series for the years ended March 31, 2023 and 2024, respectively, was derived from the sale of hair dryers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our sales of hair styling
series constituted 61% and 44% of our total revenue for the six months ended September 30, 2023 and 2024, respectively. Approximately
39% and 28% of our sales of hair styling series for six months ended September 30, 2023 and 2024, respectively, was derived from the sale
of hair dryers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Major features of the salon-styled
hair dryers that we have designed include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 25%">Negative ion technology </td>
    <td style="width: 75%; text-align: justify">Help eliminate frizzy hair</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>Scirocco fan</td>
    <td>Allows to thoroughly dry hair from the roots</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>Removable filter</td>
    <td>Washable for easy daily cleaning and detachable for preventing dust and hair from blocking the blades </td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>Compact size and lightweight</td>
    <td>Handy for travel and home use</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our sales of hair straighteners
represented 36% and 43% of our sale of hair styling series for the years ended March 31, 2023 and 2024, respectively, and 61% and
44% of our sale of hair styling series for the six months ended September 30, 2023 and 2024, respectively. We have focused on designing
hair straighteners in compact size with quick USB charging for travel and home use.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Trimmer series: </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Designed with compact size
and equipped with 2-way head and face shaver and nose hair trimmer on each side, washable components, the 2-in-1 face shaver and nose
trimmer sets are more popular than the face shaver and nose trimmer as two separate products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the years ended March
31, 2023 and 2024, 19% and 34% of our revenue related to the sale of the trimmer series. Approximately 32% and 15% of our trimmer series
sold in the years ended March 31, 2023 and 2024, respectively, were 2-in-1 face shaver and nose trimmer sets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">For the six months ended September
30, 2023 and 2024, 14% and 48% of our revenue related to the sale of the trimmer series. Approximately 53% and 16% of our trimmer series
sold in the six months ended September 30, 2023 and 2024, respectively, were 2-in-1 face shaver and nose trimmer sets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Eyelash curler series:</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our eyelash curler is designed
with 2-way comb either to increase the eyelash volume or to enhance panoramic appearance. The professionally-designed curved comb brush
head fits the curve of upper and lower eyelashes to create natural curls. We generated approximately 3% and 1% of our revenue from this
series for the years ended March 31, 2023 and 2024, respectively, and approximately 1% and 0.5% of our revenue from this series for the
six months ended September 30, 2023 and 2024, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Nail care series: </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our nail care series consists
of an electrical nail polisher. This series contributed 3% and 2%, respectively, to our total revenue for the years ended March 31, 2023
and 2024, and 2% and 2%, respectively, to our total revenue for the six months ended September 30, 2023 and 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Other personal care appliance series: </i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our other personal care appliance
series comprises reset brush, callus removers, body and facial brush, sonic peeling, handy fan and others.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We generated approximately
7% and 5% of our total revenue from this series for the years ended March 31, 2023 and 2024, respectively, and approximately 2% and 2%
of our total revenue from this series for the six months ended September 30, 2023 and 2024, respectively. The reset brush represented
55% and 65% of the sales of our other personal care appliance series for the years ended March 31, 2023 and 2024, respectively, and 41%
and 53% of the sale of our other personal care appliance series for the six months ended September 30, 2023 and 2024, respectively.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Product Sourcing and Wholesaling </span></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">We are experienced in design and
development in the personal care electrical appliance industry. Our research and development team consists of 2 full-time employees with
at least 16 years of industry experience in electrical appliances engineering and supply chain management, in the aggregate. We serve
our customers through sourcing or arranging the production process of personal care electrical appliance products to the manufacturers.
Besides, leveraging our strong design and development capabilities and our experience in anticipating consumer preference, we are able
to provide technical recommendations and solutions to or assist our customers in the design and development of the personal care electrical
appliance products that meet the needs of our customers. Riding on our extensive experience and product development capability, we continue
to expand and strengthen our market position.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our product sourcing service
is summarized as follows: our sales and marketing team first receives an order from a customer who requests our expertise to examine and
advise on the design and manufacturing feasibility of a product sample or design prototype of a product prepared by the customer. We forward
the sample or design prototype to a manufacturer who performs a feasibility assessment of the design, specification, materials required,
type of engineering and required technology and packaging of the product sample or design prototype provided by the customer. As an auxiliary
service, we may suggest modifications to the design, specification, materials to be used, technology and packaging to the customer, or
as requested by our customer, may jointly design and develop the products with our customer based on the requirement, standard and narrative
of our customer. Upon the completion of the assessment and receipt of acceptance of the modifications from the customer, our marketing
and operation team provides a price quotation to the customer. Once the quotation is accepted by the customer, we forward the finalized
design, specification and customer&#8217;s requests to the manufacturer and arrange a manufacturing schedule for producing a sample at
the manufacturer&#8217;s facility. The manufacturer performs an initial evaluation and quality testing on the sample of the finished product.
We then provide the tested sample of the finished product to our customer. Upon the acceptance of the sample of the finished product by
the customer&#8217;s quality control team, we will arrange a manufacturing schedule with the manufacturer for a mass production. After
the mass production is completed, our shipping team confirms the shipping destination with our customer, arranges the shipping documents
and forwards the instructions to the manufacturer who fulfills the shipment of the finished product to the customer&#8217;s destination
as instructed.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We bear the costs and risks
of forwarding the sample or design prototype to a manufacturer, providing suggestions for modifications of product design and specification,
sending the tested sample of the finished product to our customer and shipping delay that is otherwise caused by other parties rather
than the manufacturer. In the event of manufacturing defaults such as refining the product samples, manufacturing failure or delay, or
delay of shipping caused by the manufacturing facility, our collaborating manufacturer bears the relative costs and risks.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We sell our personal care
electrical appliances products at wholesale to our customers. As the design, prototype, specification of the personal care electrical
appliances and the respective packaging, are developed under the narratives, requirements and standards of our customers, the patents
of such design and product prototype are owned by our customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Our Customers</span></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Our customers are brand owners of personal
care electrical appliances including, (i) Koizumi Seiki Corp., one of the top 10 sellers in terms of retail volume in the personal care
electrical appliance market in Japan as stated in &#8220;Personal Care Appliances in Japan&#8221; by Euromonitor International in December
2023; (ii) another customer, a U.S. home appliance manufacturer. For the years ended March 31, 2023 and 2024, we generated 91.3% and 74.1%
of our total revenue, respectively, from Koizumi Seiki Corp. For the six months ended September 30, 2023, we generated 81% and 17% of
our total revenue from Koizumi Seiki Corp. and another customer, who is a global distributor of various consumer products, respectively.
For the six months ended September 30, 2024, we generated 57.8% and 33.7% of our total revenue from Koizumi Seiki Corp. and another customer,
respectively. We maintain long term business relationships with our customers. Leveraging our experience and expertise in the personal
care electrical appliances industry, we believe we are well positioned to maintain our relationships with our current customers, and explore
our market share in the U.S., Europe and Asia in the near future. See &#8220;<i>Expansion of Market</i>&#8221; on page 7 of this prospectus.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i><span style="text-decoration:underline">Collaborating Manufacturers</span></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have forged long-term relationships
with manufacturers specialized in producing personal care electrical appliances for international brand owners who market their personal
care electrical appliances globally. When selecting and evaluating manufacturers, we consider a number of business factors such as cost,
quality and on-time delivery. Our collaborating manufacturers implemented applicable systems which meets the international or local standards
requiring high levels of quality and safety requirements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>




</div><p style="text-align: center; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our major collaborating manufacturers include: (i) Zhongshan Raytech
Electrical Appliances Manufacturing Co. Ltd. (&#8220;Zhongshan Raytech&#8221;), a mainland China-based corporation controlled by our founder,
Chairman and CEO, Mr. Ching Tim Hoi, and (ii) Zhongshan Leimi Electrical Appliances Company Limited (&#8220;Zhongshan Leimi&#8221;), a
mainland China-based corporation. For the year ended March 31, 2024, payments to Zhongshan Raytech accounted for 88.5% of the total manufacturing
costs of the Company. For the year ended March 31, 2023, payments to each of Zhongshan Raytech and Zhongshan Leimi accounted for 83.1%
and 10.4%, respectively, of the total manufacturing costs of the Company. For the six months ended September 30, 2024, payments to Zhongshan
Raytech accounted for 91.5% of the total manufacturing costs of the Company. For the six months ended September 30, 2023, payments to
Zhongshan Raytech accounted for 92.7% of the total manufacturing costs of the Company. The factories operated by our major collaborating
manufacturers are located in Zhongshan, Guangdong Province, PRC. The manufacturers have run a well-established supply chain process particularly
the procurement of materials and components and manufacturer selection.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The factories operated by
our major collaborating manufacturers are located in Zhongshan, Guangdong Province, PRC. The manufacturers have run a well-established
supply chain process particularly the procurement of materials and components and manufacturer selection.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Zhongshan Raytech obtained
certifications for its quality management system, environmental management system and occupational safety system under the standards of
China Quality Certification Center (&#8220;CQC&#8221;), which is based in Beijing, PRC and is under control of the China Certification
&amp; Inspection Group, which is approved by the State General Administration for Quality Supervision and Inspection and Quarantine and
the Certification and Accreditation Administration of the mainland China of the PRC. CQC is a member of IQNet Association, an international
certification entity in Switzerland formed by more than 30 certification entities in major countries and those members implemented domestic
standards which mirror equivalent standards established by International Organization for Standardization (&#8220;ISO&#8221;). Zhongshan
Raytech obtained the following certifications issued by CQC as of September 30, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid; width: 16%"><b>CQC Standard and equivalent ISO standard</b></td>
    <td style="text-align: center; width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; text-align: center; width: 16%"><b>Type of standard * </b></td>
    <td style="text-align: center; width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; text-align: center; width: 16%"><b>Date of issuance, renewal and expiration </b></td>
    <td style="text-align: center; width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; text-align: center; width: 16%"><b>Certificate number</b></td>
    <td style="text-align: center; width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; text-align: left; width: 32%"><b>ISO criteria that an organization is required to meet *</b></td></tr>
  <tr style="vertical-align: top">
    <td>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">GB/T 19001-2016</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ISO9001:2015)</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p></td>
    <td>&#160;</td>
    <td>Quality management system </td>
    <td>&#160;</td>
    <td>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of initial issuance: December 24, 2018</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of renewal: December 20, 2024</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of expiration: December 23, 2027</p></td>
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    <td>00122Q31058R1M/4400</td>
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    <td style="text-align: left">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">An organization needs to demonstrate it had:</p>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">the ability to consistently provide products and
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.25in; margin: 0pt 0 0pt 0.25in">&#9679;&#160;&#160;&#160;&#160;&#160;facilitating opportunities to enhance customer satisfaction;</p>
    <p style="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; text-align: left; text-indent: -0.25in; margin: 0pt 0 0pt 0.25in">&#9679;&#160;&#160;&#160;&#160;&#160;addressing risks and opportunities associated with its
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    <p style="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in">&#9679;&#160;&#160;&#160;&#160;&#160;the ability to demonstrate conformity to specified quality
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  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ISO14001:2015)</p></td>
    <td>&#160;</td>
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    <td>&#160;</td>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of renewal: December 20, 2024</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of expiration: February 28, 2028</p></td>
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    <td>00122E30452R1M/4400</td>
    <td>&#160;</td>
    <td style="text-align: left">
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">An organization established, maintained and improved
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p>
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    <p style="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in">&#9679;&#160;&#160;&#160;&#160;&#160;achievement of environmental objectives.</p></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">GB/T 45001-2020</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(ISO45001:2018)</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p></td>
    <td>&#160;</td>
    <td>Occupational health and safety (&#8220;OH&amp;S&#8221;) management system</td>
    <td>&#160;</td>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of initial issuance: January 2, 2019</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of renewal: December 20, 2024</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Date of expiration: January 1, 2028</p></td>
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    <td>00122S30344R1M/4400</td>
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">An organization established, implemented and maintained
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    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in">&#9679;&#160;&#160;&#160;&#160;&#160;continued to improve OH&amp;S performance</p>
    <p style="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in">&#9679;&#160;&#160;&#160;&#160;&#160;&#160;fulfilled legal and other requirements</p>
    <p style="text-align: left; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>
    <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-align: left; text-indent: -0.25in">&#9679;&#160;&#160;&#160;&#160; achieved OH&amp;S objectives</p></td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">*</td>
    <td style="text-align: justify">Description of the applicable ISO standard type and requirement is presented according to the International Organization for Standardization.</td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Market and Industry Overview&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As discussed in &#8220;Personal
Care Electrical Appliances Market Size 2023-28 Market Research Report&#8221; by IMARC Group and &#8220;Personal Care Appliances Global
Market Report 2023 &#8211; By Product (Hair Care, Hair Removal, Oral Care, Other Products), By Distribution Channel (Online, Offline),
By End-User (Female, Male) &#8211; Market Size, Trends, And Global Forecast 2023-2032&#8221; published by The Business Research Company,
personal care electrical appliances are grooming products which primarily consist of hair care appliances (e.g. hair dryer, hair straightener,
hair clippers, curling irons, hair setters, and others), hair removal appliances (e.g. trimmer, power shaver and epilator), oral care
appliances such as powered tooth brush and oral irrigator, and other personal care appliances such as electrical facial brush, electrical
facial cleanser, electrical eyebrow trimmer, battery-operated nail polisher. IMARC Group analyzed that the series of hair care appliances
plays a major role in the total global market share of personal care electrical appliances currently.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Global Overview</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The market size of the global
personal care electrical appliances market expanded to US$22.75 billion in 2024 from US$21.27 billion in 2023 based on &#8220;Personal
Care Appliances Global Market Report 2024 &#8211; By Product (Hair Care, Hair Removal, Oral Care, Other Products), By Distribution Channel
(Online, Offline), By End-User (Female, Male) &#8211; Market Size, Trends, And Global Forecast 2024-2033&#8221; published by The Business
Research Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.5pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In its &#8220;Personal Care
Electrical Appliances Market Size 2023-28 Market Research Report,&#8221; IMARC Group stated that the market size of the global personal
care electrical appliances was about US$21.6 billion in 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.5pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to &#8220;Personal
Care Appliances Global Market Report 2024 &#8211; By Product (Hair Care, Hair Removal, Oral Care, Other Products), By Distribution Channel
(Online, Offline), By End-User (Female, Male) &#8211; Market Size, Trends, And Global Forecast 2024-2033&#8221; issued by The Business
Research Company, the major sellers in the global personal care appliances sector include: Conair Corporation, Dyson Ltd, Helen of Troy
Limited, Colgate-Palmolive Company, Koninklijke Philips N.V., The Procter &amp; Gamble Company, The Wahl Clipper Corporation, Vega Industries
Pvt Ltd, Panasonic Corporation, Samsung Electronics Co., Ltd., LG Corporation, and Braun GmbH.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The majority of the Company&#8217;s
customers are international brand owners who predominantly market their personal care electrical appliances in Japan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.5pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A study of personal care appliances
in Japan performed by Euromonitor International in December 2023 (&#8220;the study&#8221;, &#8220;the research&#8221;) found that while
total retail sales volume flattened by 0.3% in 2023, from 30.7 million in 2022 to 30.8 million in 2023, the overall total sales value
of personal care electrical appliances in Japan increased by 10.8% in 2023, from Japanese Yen 277.6 billion in 2022 to Japanese Yen 307.6
billion in 2023 primarily due to a growth in the average unit price and upgrades in product functions, particularly in hair care electrical
appliance, in 2023. The study forecasted that retail volume sales are expected to rise to 32 million in 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.5pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Statistics calculated by Euromonitor
International identified that Panasonic Corp is the major personal care appliance company which represented 44.8% of the market share
in the personal care electrical appliance industry in Japan in 2023. Koizumi Seiki Corp., Tescom Co. Ltd., Procter &amp; Gamble Far East
Inc., Philips Electronics Japan Ltd. and Hitachi Appliances Inc represented 7.6%, 7.6%, 5.9%, 3.6% and 3.3%, respectively, of the total
market share in Japanese personal care electrical appliance industry.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Further, the research determined
that the development of the personal care appliances includes three aspects:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">brand premiumization and inflation</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.75in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">dominance of hair care appliances</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">innovation in body shavers</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Euromonitor analyzed that
although retail sales volume of personal care appliances in Japan remained steady in 2023, the sales dollar amount grew by 10.8% in 2023.
Rise in unit price and product upgrades are the key factors. Personal care electrical appliance sellers continued to invest in offering
high quality, authentic designs and additional value-added and unique product functions in order to justify higher unit prices.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Hair care appliances still
represent a major category in personal care electrical appliances in Japan. Many new personal care appliance sellers such as Dyson, Yaman,
Refa, I-ne entered the market of hair care appliances in 2016, 2021, 2019 and 2011, respectively. Traditional well-known brands such as
Panasonic, Sharp and Tescom continued to elevate the quality and functions of their hair care appliances products with Panasonic retaining
its strong presence in this category. The study mentioned that consumers are willing to pay for the higher price for the quality experience.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The study highlighted that
the new design in body shavers by Panasonic and Yaman is expected to perform well. The new design integrated with skin care features and
the slim size accommodated the needs for business travel and easier storage and portability.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Future Development</i>&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In its &#8220;Personal Care
Electrical Appliances Market Size 2023-28 Market Research Report,&#8221; IMARC Group predicted that the global personal care electrical
appliances market size could reach US$30.2 billion by 2028 which represents a growth rate (CAGR) of 5.5% during 2023-2028.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#8220;Personal Care Appliances
Global Market Report 2024 &#8211; By Product (Hair Care, Hair Removal, Oral Care, Other Products), By Distribution Channel (Online, Offline),
By End-User (Female, Male) &#8211; Market Size, Trends, And Global Forecast 2024-2033&#8221; published by The Business Research Company
anticipated that the global market value for personal care appliances is estimated to grow to US$29.68 billion by 2028, proliferating
at a compound annual growth rate (CAGR) of 6.9%. It analyzed that Asia Pacific is anticipated to be the fastest growing market during
the forecast period.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Allied Market Research evaluated
that the expansion in the global personal care electrical appliances market from 2022 through 2031 is driven by an improvement in economic
environment, an uprising in aging population and a surge in disposable income. Moreover, social media also play an instrumental role in
the society and businesses utilized social media as a conduit to promote and market their brands and products. The research indicated
that e-commerce channel segment is expected to record the highest CAGR of 7.4% among various distribution channels of this market during
2022 through 2031 owing to the increased association of internet and e-shopping habit of the consumers. In addition, through the advertisements
and promotions of brands or products by celebrities or notable individuals, these brands and products tend to increase consumers&#8217;
awareness, trust and comfort. These sales channels help fuel the market and create bigger opportunities for personal care electrical appliances
market. Allied Market Research also stated that the use of social media, a rise in disposable income, rapid urbanization and an increase
in youth population in Asia-pacific regions trigger the demand for personal care appliances which would exhibit the highest CAGR of 8.4%
during 2022 through 2031.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition, according to
the analysis of Research and Markets on Personal Care Appliances Global Market Report 2024, global personal care appliances market exhibited
a growth from US$21.27 billion in 2023 to US$22.75 billion in 2024 at CAGR of 7.0%. It added that the personal care appliances market
size is expected to proliferate to US$29.68 billion in 2028 at CAGR of 6.9%. Major drivers include continued popularity of personal care
appliances, an increase in consciousness of personal health, personal appearance and personal hygiene, growing aging population and surge
in online purchase.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Key Market Drivers and Opportunities:</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in">&#9679;</td><td style="text-align: justify">rise in disposable incomes and expansion of organized retail sector;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in">&#9679;</td><td style="text-align: justify">advertising and promotions through social media and celebrities;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in">&#9679;</td><td style="text-align: justify">rapid technological advances and energy efficiency innovations that offering budget-friendly styling and
personal care electrical appliance products, and advanced products with convenience and ease-of-use; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in">&#9679;</td><td style="text-align: justify">change of lifestyle pattern and fashion trends that drive customers to splurge on styling and aesthetically
appealing self-grooming devices for personal care and hygiene.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Key Market Restraints:<b>&#160;</b></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in">&#9679;</td><td style="text-align: justify">increasing amount of plastic waste due to disposal of electrical appliances acts as a restraint on the
development of these products; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="text-align: justify; width: 0.5in"/><td style="text-align: justify; width: 0.25in">&#9679;</td><td style="text-align: justify">emerging markets are expected to continue to grow slightly slower than the developed markets in the forecast
period due to lower priority in personal care and hygiene compared with the developed markets.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 42.5pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>COVID-19 Impact</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on an analysis &#8220;Personal Care Electrical Appliances Market
by Product Type and Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2022-2031&#8221; concluded by Allied Market
Research, the outbreak of coronavirus has led to shutdown of economic activities in the country for few months and has halted the operations
of the personal care electrical appliances industry. There were supply disruptions across North America, Europe, and Asia-Pacific during
the initial period of the pandemic outbreak. The pandemic also had negative impacts to the sales of personal care appliances market at
the physical stores in recent years. In spite of this, the online sales channel has proliferated dramatically amidst the pandemic. Major
market participants are now expanding their online channels to cater to increased demand from direct-to-consumer channel. Furthermore,
globally, COVID-19 pandemic has increased consumer attention toward personal care and hygiene, which is expected to positively impact
the personal care electrical appliances market in the upcoming years. While the most acute global disruptions have since subsided, we
believe the pandemic has indelibly accelerated the migration to online purchasing and solidified a greater consumer emphasis on personal
wellness and hygiene. Consequently, the industry continues to navigate an evolved marketplace, adapting to these persistent shifts in
consumer behavior and supply chain dynamics.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Competitive Strengths</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We possess certain attributes
that differentiate us as a personal care electronic appliance provider from Hong Kong. Our key competitive strengths include:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We have a strong presence in the personal care electrical appliances
industry with a 10-year operating history and emphasis on hair styling products&#160;</i>

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that we have built up a strong reputation in the personal
care electrical appliances industry as a result of our approximately 11-year operating history and our establishment in the industry.
For example, in October 2017 and in April 2019, our founder, Mr. Ching, was featured twice by the HKEAIA Express Magazine, an official
publication of the Hong Kong Electrical Appliance Industries Association, for his decades of experience in the electrical appliance industries.
We believe our reputation has attracted various renowned brand owners which became our major customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our research and development
expertise has allowed us to further develop a new variety of personal care electronic products for our customers and establish strong
relationships with our customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Led by a management team with an aggregate
of 30 years of research, development and operation experience in the industry, our Company&#8217;s business growth has been driven by
our research and development efforts in satisfying various needs of our customers.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We work closely with our customers in product design and development.
We believe that by engaging meetings with our customers and obtaining feedbacks from our customers, we are able to gain a deeper understanding
of our customers&#8217; requirements and develop desirable products that satisfy our customers&#8217; needs. As such, we have established
strong relationship with our customers. We believe that our Company is positioned to secure more orders from our existing customers and
attract new customers to expand our customer base, due in part to our close working relationships with them.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We have a quality control system, which allows us to deliver
high quality products and maintain market reputation</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We place great emphasis on
high quality products and hence, we have implemented stringent quality control system. Our quality control measures are to make sure our
collaborated manufacturers in compliance with the quality standard required by our customers and ensure that our products are delivered
with consistent, reliable, safe and high-quality standards such as those established by International Organization for Standardization
(&#8220;ISO&#8221;). We also place great emphasis on the safety of our products. Our products meet the safety requirements from our customers
and all applicable international safety standards of destinations where our products are shipped to, such as the JET Certification Scheme
provided by the Japan Electrical Safety and Environment Technology Laboratories. Our customers are international renowned brand owners
of hair styling products and personal care electronical appliance products which have stringent requirements on our products to meet various
quality and safety standards. Given that we have long business relationship with these customers, we believe that our products are of
high quality and capable of being sold in the high-end market and able to continue to strengthen our position as a design office for international
brand owners in the long run.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><p style="text-align: justify; font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>We have a strong and experienced management team with strong
commitment to deliver high quality products</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our success and growth are substantially attributable to the strong
commitment of our executive Directors and senior management team to deliver high quality products to our customers. Our founder, Mr. Ching
Tim Hoi, executive Director and Shareholder has over 30 years of experience in the personal care and lifestyle electrical appliances industry.
Mr. Ching is primarily responsible for formulating the overall sales and marketing strategies, business development and making major decisions
of our Company. Since the establishment of Pure Beauty, Mr. Ching has contributed to our Company consistently and continuously with his
insight in product design, his dedication on quality control of our products and his skills in departmental management. For the senior
management of our Company, most of them have worked in our Company for over 10 years and have extensive experience in the personal care
and lifestyle electrical appliances industry. Leveraging the foresight and in-depth industry knowledge of our Directors and senior management
team, our Company has been able to formulate sound business strategies, assess and manage risks, anticipate changes in consumer preferences,
and capture market opportunities. For details of our executive Directors and senior management, please refer to the section entitled &#8220;Management&#8221;
of this document.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe that the vision,
experience, market-awareness, in-depth knowledge in the personal care and lifestyle electrical appliances industry of our Directors and
senior management team have been pivotal to the success of our business and our ability to continue to explore new business opportunities
and strengthen our position in the market.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Growth Strategy</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our goal is to become a leading
product design and development office in personal care and lifestyle electrical appliances industry in Asia. To achieve this goal, we
plan to adopt the following plans and strategies:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">explore new product lines;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">continue to expand our men&#8217;s personal care and hair care and styling product lines. For instance,
shavers and electric hair brush</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">broaden sales through providing technical expertise to the potential and new customers in personal care
electrical appliance market; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">approach customers who sell and market their personal care electrical appliances in Europe, the US and
other Asia markets.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Expansion of market</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We seek to expand our customer
base, geographic presence and improve our local connection with them. We intend to expand our business from Hong Kong to the U.S., Europe
and Asia markets. We have currently only conducted limited market studies of these other markets, but have not started any marketing or
sales initiatives for these markets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We plan to increase our investments
in sales and marketing function, in particular the U.S., Europe and Asia market to cope with our business expansion plan, our Company&#8217;s
sales and marketing activities mainly included handling purchase orders received from our customers, coordinating with our manufacturers
which have their production teams for execution of purchase orders, communicating with our customers on their requests and feedbacks
exploring with them the potential business opportunities. We believe that one of our keys to success is to achieve customer satisfaction
by, among others, demonstrating to our customers that their purchase orders are closely monitored and their requests and feedbacks are
timely handled through our delegated sales and marketing team. This helps us to retain our customers and gain more orders from them.
Our management identified a need to allocate resources to actively promote our aforesaid strengths with a view to attracting potential
customers to approach us for our products and services. See &#8220;<i>Use of Proceeds</i>&#8221; on page 59 of this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Recruit, Retain and Develop Employees</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We will continue hiring highly
qualified and experienced staff in the field. In order to expand and grow our business, we must continuously recruit and attract talented
employees not only in the sales and marketing side for acquiring new customers, but also the operational staff to manage the interface
with the production and manufacturing side. We believe that becoming a publicly-traded company will enhance our reputation and will attract
more talented people to join us. With the continuous growth of our business and the market expansion plan, we intend to allocate 25%
of the proceeds of the offering for recruiting additional experienced staff, including administrative, executive and accounting personnel,
marketing and sales as well as designers with solid industry backgrounds that can support the expansion of our business, and necessary
R&amp;D personnel to support development of new product lines (including men&#8217;s personal care product lines). See
&#8220;<i>Use of Proceeds</i>&#8221; on page 59 of this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Competition</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The personal care electrical
appliance market is relatively fragmented subject to macro-economic cycles and the entry of new competitors. We are directly competing
with other design and development offices in the industry and also with manufacturers who are located in South Asia.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The majority of our
revenue was derived from sales to the Japanese consumer market. We anticipate that customer demand for our Company&#8217;s personal
care electrical appliances going forward will be primarily affected by the demand and performance of Japan. However, our targeted
customer markets are expected to maintain a stable growth.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We mainly compete on product
quality and research and development capabilities. We believe that we can compete effectively by virtue of our well-established relationship
with our customers which are international brand owners, strong presence in the personal care electrical appliances industry, strong and
established product design and development capabilities, quality assurance system and our experienced and dedicated management team.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Intellectual Property</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We currently do not own any
trademarks, copyrights, patents, domain names, know-how, proprietary technologies, and similar intellectual property. Regardless of the
type of our services, as the design, prototype, specification of the personal care electrical appliances and the respective packaging,
are developed under the narratives, requirements and standards of our customers, the patents of such design and product prototype are
owned by our customers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As at the date of this prospectus, we have been using certain trademarks
in Pure Beauty&#8217;s daily business operations which are currently registered in Japan and owned by Mr. Ching (the &#8220;Japan Pure
Beauty Trademarks&#8221;). On August 1, 2021, a trademark license agreement was entered into between us and Mr. Ching (the &#8220;Japan
Trademark License Agreement&#8221;), pursuant to which Mr. Ching agreed to irrevocably and unconditionally grant us, our subsidiaries
and branches an exclusive license to use the Japan Pure Beauty Trademarks on a royalty-free basis, for 10 years commencing from the date
of the Japan Trademark License Agreement. See &#8220;<i>Risk Factors &#8211; Risks Related to Our Business &#8211; We may be subject to
intellectual property infringement claims, which may be expensive to defend and may disrupt our business and operations</i>&#8221; on
page  31 of this prospectus for more information.&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Patent</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We do not retain the patent
of the finished products we sourced to manufacturers and designed or developed with our customers. Such patents belong to our customers
who hired us for the design and development of such products.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Domain</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pure Beauty Manufacturing
Company Limited registered the domain name of &#8220;www.raytech.com.hk&#8221;.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Employees</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of September 30, 2024,
we have 6 employees. No employees are represented by a labor union, and we believe that we have good relations with our employees.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1in; text-align: justify; text-indent: 0.4in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Facilities</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Our principal executive office is a 1,343
square feet leased property located at Unit 609, 6/F, Nan Fung Commercial Centre, 19 Lam Lok Street, Kowloon Bay, Hong Kong. Pursuant
to the Lease Agreement, the lease term is one year, from April 1, 2025 to March 31, 2026 and the monthly rent is HKD25,000 (US$3,213).
We believe our current offices are sufficient for the operation of our business.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The operating lease expenses
amounted to HKD300,000 (US$38,560) for both the years ended March 31, 2023 and 2024, and HKD150,000 (US$19,155) for the six months ended
September 30, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Legal Proceedings </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We and our subsidiaries are currently not a party to any material legal
or administrative proceedings. We may from time to time be subject to various legal or administrative claims and proceedings arising in
the ordinary course of business. Litigation or any other legal or administrative proceeding, regardless of the outcome, is likely to result
in substantial cost and diversion of our resources, including our management&#8217;s time and attention.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Governmental Regulations</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our operations are subject
to numerous laws of Hong Kong and regulations in a number of areas including, but not limited to, areas of labor and employment, immigration,
advertising, e-commerce, tax, import and export requirements, data privacy requirements, anti-competition, and environmental, health,
and safety. CLKW Lawyers LLP, Raytech Holding&#8217;s Hong Kong counsel, has advised Raytech Holding that, as of the date of this prospectus,
we have obtained all necessary licenses, permissions or approvals including the business registration certificate from the governmental
authorities of Hong Kong to operate our business and to the best of our knowledge, no license, permission or approval has been denied.
See &#8220;<i>Regulations</i>&#8221; on page 91 of this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table provides details on the licenses, permissions or
approvals held by Raytech Holding&#8217;s Hong Kong subsidiaries.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
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    <td style="width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; width: 18%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Issuing authority</b>&#160;</span></td>
    <td style="width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; width: 14%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Commencement date</b>&#160;</span></td>
    <td style="width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; width: 10%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Expiry date</b>&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pure Beauty</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business Registration Certificate&#160;</span></td>
    <td style="text-align: left; vertical-align: top">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inland Revenue Department&#160;</span></td>
    <td style="text-align: left; vertical-align: top">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 15, 2025</span></td>
    <td style="text-align: left; vertical-align: top">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">April 14, 2026&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Raytech Innovation</span></td>
    <td style="text-align: left; vertical-align: top"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Business Registration Certificate&#160;</span></td>
    <td style="text-align: center; vertical-align: top">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inland Revenue Department&#160;</span></td>
    <td style="text-align: center; vertical-align: top">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 6, 2025</span></td>
    <td style="text-align: center; vertical-align: top">&#160;</td>
    <td style="vertical-align: top; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">May 5, 2026&#160;</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>

</div><div><a id="a_013"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">REGULATIONS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b><i>&#160;</i></b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Regulations Related to our Business Operations in Hong Kong</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pure Beauty is Raytech Holding&#8217;s
wholly-owned subsidiary established in Hong Kong through which Raytech Holding conducts its operations. As at the date of this prospectus,
there was no statutory or mandatory licensing and qualification system in Hong Kong governing the design, development and sourcing of
personal care electrical appliances.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Below sets out a summary of
certain aspects of the Hong Kong laws and regulations which are relevant to our operation and business.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Business Registration Ordinance (Chapter 310 of the Laws of
Hong Kong)</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Business Registration
Ordinance requires every person carrying on any business to make an application to the Commissioner of Inland Revenue in the prescribed
manner for the registration of that business within one month after the commencement of business. The Commissioner of Inland Revenue must
register each business for which a business registration application is made and as soon as practicable after the prescribed business
registration fee and levy are paid and issue a business registration certificate or branch registration certificate for the relevant business
or the relevant branch, as the case may be. Any person who fails to apply for business registration shall be guilty of an offence and
shall be liable to a fine of HK$5,000 and to imprisonment for 1 year.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Personal Data (Privacy) Ordinance (Cap. 486) of Hong Kong),
or the PDPO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The PDPO imposes a statutory
duty on data users to comply with the requirements of the six data protection principles (the &#8220;Data Protection Principles&#8221;)
contained in Schedule 1 to the PDPO. The PDPO provides that a data user shall not do an act, or engage in a practice, that contravenes
a Data Protection Principle unless the act or practice, as the case may be, is required or permitted under the PDPO. The six Data Protection
Principles are:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Principle 1&#8212;purpose and manner of collection of personal data;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Principle 2&#8212;accuracy and duration of retention of personal data;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Principle 3&#8212;use of personal data;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Principle 4&#8212;security of personal data;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Principle 5&#8212;information to be generally available; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">Principle 6&#8212;access to personal data.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Non-compliance with a Data
Protection Principle may lead to a complaint to the Privacy Commissioner for Personal Data (the &#8220;Privacy Commissioner&#8221;). The
Privacy Commissioner may serve an enforcement notice to direct the data user to remedy the contravention and/ or instigate prosecution
actions. A data user who contravenes an enforcement notice commits an offense which may lead to a fine and imprisonment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->91<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The PDPO also gives data subjects
certain rights, <i>inter alia</i>:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.5in">&#160;</td>
    <td style="width: 0.25in">&#9679;</td>
    <td style="text-align: justify">the right to be informed by a data user whether the data user holds personal data of which the individual is the data subject;</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.5in">&#160;</td>
    <td style="text-align: justify; width: 0.25in">&#9679;</td>
    <td style="text-align: justify">if the data user holds such data, to be supplied with a copy of such data; and</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.5in">&#160;</td>
    <td style="text-align: justify; width: 0.25in">&#9679;</td>
    <td style="text-align: justify">the right to request corrections of any data they consider to be inaccurate.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The PDPO criminalizes certain violations, including but not limited
to, the misuse or inappropriate use of personal data in direct marketing activities, non-compliance with a data access request and the
unauthorized disclosure of personal data obtained without the relevant data user&#8217;s consent. An individual who suffers damage, including
injured feelings, by reason of a contravention of the PDPO in relation to his or her personal data, may seek compensation from the data
user concerned.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Employment Ordinance (Chapter 57 of the Laws of Hong Kong),
or the EO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Employment Ordinance (Chapter
57 of the Laws of Hong Kong), is an ordinance enacted for, amongst other things, the protection of the wages of employees and the regulation
of the general conditions of employment and employment agencies. Under the EO, an employee is generally entitled to, amongst other things,
notice of termination of his or her employment contract; payment in lieu of notice; maternity protection in the case of a pregnant employee;
not less than one rest day in every period of seven days; severance payments or long service payments; sickness allowance; statutory holidays
or alternative holidays; and paid annual leave of up to 14 days depending on the period of employment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Employees&#8217; Compensation Ordinance (Chapter 282 of the
Laws of Hong Kong), or the ECO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Employees&#8217; Compensation
Ordinance (Chapter 282 of the Laws of Hong Kong), is an ordinance enacted for the purpose of providing for the payment of compensation
to employees injured in the course of employment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The ECO establishes a no-fault
and non-contributory employee compensation system for work injuries and lays down the rights and obligations of employers and employees
in respect of injuries or death caused by accidents arising out of and in the course of employment, or by prescribed occupational diseases.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As stipulated by the ECO,
no employer shall employ any employee in any employment unless there is in force in relation to such employee a policy of insurance issued
by an insurer for an amount not less than the applicable amount specified in the Fourth Schedule of the ECO in respect of the liability
of the employer. According to the Fourth Schedule of the ECO, the insured amount shall be not less than HKD100,000,000 (approximately
$12,900,000) per event if a company has no more than 200 employees. Any employer who contravenes this requirement commits a criminal offence
and is liable on conviction to a fine and imprisonment. An employer who has taken out an insurance policy under the ECO is required to
display a prescribed notice of insurance in a conspicuous place on each of its premises where any employee is employed.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Mandatory Provident Fund Schemes Ordinance (Chapter 485 of
the Laws of Hong Kong), or the MPFSO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Mandatory Provident Fund
Schemes Ordinance (Chapter 485 of the Laws of Hong Kong), is an ordinance enacted for the purposes of providing for the establishment
of non-governmental mandatory provident fund schemes, or the MPF Schemes. The MPFSO requires every employer of an employee of 18 years
of age or above but under 65 years of age to take all practical steps to ensure the employee becomes a member of a registered MPF Scheme
within the first 60 days of employment. Subject to the minimum and maximum relevant income levels, it is mandatory for both employers
and their employees to contribute 5% of the employee&#8217;s relevant income to the MPF Scheme. Any employer who contravenes the requirement
of enrolling eligible employees in a registered MPF Scheme or the requirement of paying mandatory contributions to the MPF Schemes commits
a criminal offence and is liable on conviction to a fine and imprisonment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->92<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Minimum Wage Ordinance (Chapter 608 of the Laws of Hong Kong),
or the MWO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Minimum Wage Ordinance
(Chapter 608 of the Laws of Hong Kong) provides for a prescribed minimum hourly wage rate (currently at HK$42.1 per hour) during the wage
period for every employee engaged under a contract of employment under the EO. Any provision of the employment contract which purports
to extinguish or reduce the right, benefit or protection conferred on the employee by the MWO is void.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Failure to pay minimum wage
amounts to a breach of the wage provisions under EO. An employer who wilfully and without reasonable excuse fails to pay wages to an employee
when it becomes due commits a criminal offence and is liable on conviction to a fine and imprisonment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Inland Revenue Ordinance (Chapter 112 of the Laws of Hong Kong)</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under the Inland Revenue Ordinance
(Chapter 112 of the Laws of Hong Kong), where an employer commences to employ in Hong Kong an individual who is or is likely to be chargeable
to tax, or any married person, the employer shall give a written notice to the Commissioner of Inland Revenue not later than three months
after the date of commencement of such employment. Where an employer ceases or is about to cease to employ in Hong Kong an individual
who is or is likely to be chargeable to tax, or any married person, the employer shall give a written notice to the Commissioner of Inland
Revenue not later than one month before such individual ceases to be employed in Hong Kong.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Consumer Goods Safety Ordinance (Chapter 456 of the Laws of
Hong Kong), or the CGSO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Consumer Goods Safety
Ordinance (Chapter 456 of the Laws of Hong Kong) imposes a duty on manufacturers, importers and manufacturers of certain consumer goods
to ensure that the consumer goods they supply are safe and for incidental purposes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s products
are regulated by the CGSO and the Consumer Goods Safety Regulation (Cap. 456A, Laws of Hong Kong) (the &#8220;Consumer Goods Safety Regulation&#8221;).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 4(1) of the CGSO requires
consumer goods to be reasonably safe having regard to all of the circumstances including the manner in which, and the purpose for which
the products are presented, promoted or marketed, the use of any mark in relation to the products, instructions and warnings given for
the keeping or use of the products, reasonable safety standards published by a standards institute or other similar bodies and the existence
of any reasonable means to make the products safer.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to section 2(1)
of the Consumer Goods Safety Regulation, where consumer goods on their packages are marked with, or where any labels affixed to or any
documents enclosed in their packages contain, any warning or caution regarding the safe keeping, use, consumption or disposal, such warning
or caution shall be in both the English and the Chinese languages. Such warnings and cautions, as required by section 2(2) of Consumer
Goods Safety Regulation, shall be legible and be placed in a conspicuous position on (a) the consumer goods; (b) any package of the consumer
goods; (c) a label security affixed to the package; or (d) a document enclosed in the package.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Electrical Products (Safety) Regulation (Chapter 405G of the
Laws of Hong Kong)</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">It is a requirement under
the Electrical Products (Safety) Regulation (Chapter. 405G of the Laws of Hong Kong) that electrical products which are designed for household
use and supplied in Hong Kong shall comply with certain safety requirements and obtain recognized certificates of safety compliance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Occupational Safety and Health Ordinance (Chapter 509 of the
Laws of Hong Kong), or the OSHO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Occupational Safety and
Health Ordinance (Chapter 509 of the Laws of Hong Kong) aims to ensure the safety and health of employees when they are at work. Under
the OSHO, an employer must ensure the safety and health of his workplace by (i) providing and maintaining plant and work systems that
are safe and without risks to health, (ii) making arrangement for ensuring safety and health in connection with the use, handling, storage
or transport of plant or substances, (iii) providing all necessary information, instruction, training and supervision for ensuring safety
and health, (iv) providing and maintaining safe access to and egress from the workplace, and (v) providing and maintaining a safe and
healthy work environment. An employer who fails to comply with the above may be liable on conviction to a fine and imprisonment, if he
did so intentionally, knowingly or recklessly.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><!-- Field: Page; Sequence: 101; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->93<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Occupational Safety and Health Regulation (Chapter 509A of
the Laws of Hong Kong)</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Occupational Safety and
Health Regulation (Chapter 509A of the Laws of Hong Kong<b><i>)</i></b> further sets out basic requirements for accident prevention, fire
precaution, workplace environment control, hygiene at workplaces, first aid, as well as what employers and employees are expected to do
in manual handling operations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Tortious Duty Under Common Law</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Apart from contractual liability,
under common law, manufacturers, distributors and retailers of products also owe a duty of care to consumers and may be liable for damage
resulting from defects in goods caused by their negligent acts or for any fraudulent misrepresentation made in the distributing and selling
of goods. Where a manufacturer, distributor or retailer knows or reasonably believes that the products may be defective, he may have to
cease to supply such goods and to give warning and instructions to persons to whom the products are supplied. Any person who undertakes
to design, import or supply a product, and who negligently performs his work and causes damage to another person or property, will also
attract civil liability.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Trade Description Ordinance (Chapter 362 of the Laws of Hong
Kong), or the TDO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Trade Descriptions Ordinance
(Chapter 362 of the Laws of Hong Kong) prohibits false trade descriptions, false, misleading or incomplete information, false statements,
etc., in respect of goods offered in the course of trade. Therefore, all of the products sold by the Company are required to comply with
the relevant provisions therein. Section 2 of the TDO provides, inter alia, that &#8220;trade description&#8221; in relation to goods
means an indication, direct or indirect, and by whatever means given, of certain matters (including quantity, method of manufacture, composition,
fitness for purpose, availability, compliance with a standard specified or recognized by any person, price, their being of the same kind
as goods supplied to a person, price, place or date of manufacture, production, processing or reconditioning, person by whom manufactured,
produced, processed or reconditioned, etc.), with respect to any goods or parts of the goods; and in relation to services means an indication,
direct or indirect, and by whatever means given, of certain matters (including nature, scope, quantity, fitness for purpose, method and
procedures, availability, the person by whom the service is supplied, after-sale service assistance, price etc.).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Section 7 of the TDO provides
that no person shall in the course of trade or business apply a false trade description to any goods or sell or offer for sale any goods
with false trade descriptions applied thereto. Section 7A of the TDO provides that a trader who applies a false trade description to a
service supplied or offered to be supplied to a consumer, or supplies or offers to supply to a consumer a service to which a false trade
description is applied, commits an offence.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Sections 13E, 13F, 13G, 13H
and 13I of the TDO provide that a trader who engages in relation to a consumer in a commercial practice that (a) is a misleading omission;
or (b) is aggressive; (c) constitutes bait advertising; (d) constitutes a bait and switch; or (e) constitutes wrongly accepting payment
for a product, commits an offence.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">A person who commits an offence
under sections 7, 7A, 13E, 13F, 13G, 13H or 13I shall be subject, on conviction on indictment, to a fine of HK$500,000 and to imprisonment
for 5 years, and on summary conviction, to a fine at HK$100,000 and to imprisonment for 2 years.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Trade Marks Ordinance (Chapter 559 of the Laws of Hong Kong),
or the TMO</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Trade Marks Ordinance
(Chapter 559 of the Laws of Hong Kong) provides for the registration of trademarks, the use of registered trademarks and connected matters.
Hong Kong provides territorial protection for trademarks. Therefore, trademarks registered in other countries or regions are not automatically
entitled to protection in Hong Kong. In order to enjoy protection by the laws of Hong Kong, trademarks must be registered with the Trade
Marks Registry of the Intellectual Property Department under the Trade Marks Ordinance and the Trade Marks Rules (Chapter 559A of the
Laws of Hong Kong) (the &#8220;Trade Marks Rules&#8221;).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">According to section 10 of
the TMO, a registered trademark is a property right acquired through due registration under such ordinance. The owner of a registered
trademark is entitled to the rights provided by the ordinance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">By virtue of section 14 of
the TMO, the owner of a registered trademark is conferred exclusive rights in the trademark. The rights of the owner in respect of the
registered trademark come into existence from the date of the registration of the trademark. According to section 48 of such ordinance,
the registration date is the filing date of the application for registration.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Subject to the exceptions
in section 19 to section 21 of the TMO, any use of the trademark by third parties without the consent of the owner is an infringement
of the trademark. Conducts which amount to infringement of the registered trademark are further specified in section 18 of the same ordinance.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Sale of Goods Ordinance (Chapter 26 of the
Laws of Hong Kong)</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Sale of Goods Ordinance
(Chapter 26 of the Laws of Hong Kong) provides, inter alia, that where a seller sells goods in the course of a business, there is an implied
condition that (a) where the goods are purchased by description, the goods must correspond with the description; (b) the goods supplied
are of merchantable quality; and (c) the goods must be fit for the purpose for which they are purchased. Otherwise, a buyer has the right
to reject defective goods unless he or she has a reasonable opportunity to examine the goods.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><div><a id="a_014"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">MANAGEMENT</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Set forth below is information
concerning the Company&#8217;s directors, executive officers and other key employees.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following individuals
are members of the Board and management of the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="border-bottom: black 1.5pt solid; text-align: justify; width: 30%"><b>Name</b></td>
    <td style="width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; text-align: center; width: 8%"><b>Age</b></td>
    <td style="width: 1%">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; text-align: center; width: 60%"><b>Position(s)</b></td></tr>
  <tr style="vertical-align: top; background-color: #CCEEFF">
    <td style="text-align: justify">CHING Tim Hoi</td>
    <td>&#160;</td>
    <td style="text-align: center">68</td>
    <td>&#160;</td>
    <td style="text-align: justify">Chief Executive Officer and Chairman</td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify">LING Chun Yin</td>
    <td>&#160;</td>
    <td style="text-align: center">47</td>
    <td>&#160;</td>
    <td style="text-align: justify">Director</td></tr>
  <tr style="vertical-align: top; background-color: #CCEEFF">
    <td style="text-align: justify">WAN Yee Hing</td>
    <td>&#160;</td>
    <td style="text-align: center">41</td>
    <td>&#160;</td>
    <td style="text-align: justify">Chief Financial officer</td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify">LI Wan Venus</td>
    <td>&#160;</td>
    <td style="text-align: center">47</td>
    <td>&#160;</td>
    <td style="text-align: justify">Independent Director</td></tr>
  <tr style="vertical-align: top; background-color: #CCEEFF">
    <td style="text-align: justify">FOK Pak Kin Charles</td>
    <td>&#160;</td>
    <td style="text-align: center">49</td>
    <td>&#160;</td>
    <td style="text-align: justify">Independent Director</td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify">LI Shihua</td>
    <td>&#160;</td>
    <td style="text-align: center">35</td>
    <td style="text-align: justify">&#160;</td>
    <td style="text-align: justify">Independent Director</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following is a brief biography
of each of the Company&#8217;s executive officers and directors:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>CHING Tim Hoi, <i>Chief
Executive Officer and Chairman</i></b><i>.</i> Mr. Ching is the founder of the Company and he currently serves as the Chief Executive
Officer, Director and Chairman of the Board of the Company since our inception. Mr. Ching has also served as Chief Executive Officer
and Director of Pure Beauty Manufacturing Company Limited, a Hong Kong company and wholly-owned subsidiary of the Company, since April
2013. Mr. Ching has over 30 years of experience in the electrical appliances industry especially in hair and beauty products. Since September
2010, Mr. Ching has served in various positions at Raytech Holdings Company Limited (where he currently serves as Director), a Hong Kong
electrical appliance manufacturing company and the parent of one of the Company&#8217;s collaborating manufacturers, Zhongshan Raytech
Electrical Appliances Manufacturing Co. Ltd (where he currently serves as Executive Director). Mr. Ching has extensive experience in
sales, marketing, business development and project management. He has been elected and conferred a fellowship by the Social Enterprise
Research Academy in July 2019. He has also served as the Vice President of the Hong Kong Electrical Appliance Industries Association
since 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe Mr. Ching qualifies
as the Company&#8217;s Chairman because of his deep knowledge of the Company&#8217;s business and extensive experience in the personal
care electrical appliances industry.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal"><b>LING
Chun Yin,</b></span> <i><b>Director.</b></i> <span style="font-style: normal; font-weight: normal">Mr. Ling has served as a Director of
the Company since May 2024. Mr. Ling has more than 15 years of experience in the lifestyle electrical appliances industry and extensive
experience in project management and product development. Mr. Ling is currently serving as Assistant to the CEO, Mr. Ching, in Pure Beauty
Manufacturing Company Limited, a Hong Kong company and wholly-owned subsidiary of the Company, since 2013. Since September 2010, Mr.
Ling has also served as the Assistant to CEO in Raytech Holdings Company Limited. In that role, Mr. Ling is responsible for various business
units and overall strategic planning. He also currently serves as Supervisor at Zhongshan Raytech Electrical Appliances Manufacturing
Co. Ltd. Before joining Raytech Holdings Company Limited, Mr. Ling had worked in several multinational companies. From January 2008 to
September 2009, Mr. Ling worked for Novo Nordisk A/S (NYSE: NVO), a world leading multinational diabetic pharmaceutical company, as an
Assistant Sourcing Manager. Mr. Ling worked at Spectrum Brands Inc. (NYSE: SPB), as senior supply chain officer, from November 2004 through
December 2007. Mr. Ling obtained his Bachelor of Business (Logistics &amp; Supply Chain Management) degree from the Royal Melbourne Institute
of Technology.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe Mr. Ling qualifies
as the Company&#8217;s director because of his familiarity with the Company&#8217;s operations and past experience in the lifestyle electrical
appliance industry.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="font-style: normal"><b>WAN
Yee Hing,</b></span><b> <i>Chief Financial Officer.</i></b> <span style="font-style: normal; font-weight: normal">Ms. Wan has over 15 years
of experience in professional auditing, corporate accounting and financial management. She has served as our Chief Financial Officer
since May 2024. She current serves as the financial controller of the operating entity, Pure Beauty Manufacturing Company Limited, a
Hong Kong company and wholly-owned subsidiary of the Company, a role she assumed in June 2020, and supervises the accounting and finance
function of the company. From 2014 through 2017, she worked at G4S (Holding) Limited, a global security company, with her last position
as Finance Manager. Before that, Ms. Wan was the accounting manager of UGC Technology Limited, an information technology company, from
2010 through 2014. Ms. Wan worked at BDO Limited from 2005 through 2010, with her last position being senior associate assurance. Ms.
Wan obtained her Bachelor of Arts degree with a major in accountancy from the Hong Kong Polytechnic University in 2005. She has been
a member of the Hong Kong Institute of Certified Public Accountants (&#8220;HKICPA&#8221;) since January 2009.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>LI Wan Venus, <i>Independent
Director.</i></b> Ms. Wan has served as our director since May 2024. Since 2010, Ms. Li has served as a Development Manager for Sun Lik
Shoes &amp; Metal Co., Ltd. (&#8220;Sun Lik&#8221;), a shoe manufacturer established in Hong Kong in 1980. At Sun Lik, Ms. Li specializes
in managing the factory operation in China, monitoring sales team and promoting business development. Before she assumed her current role,
she started at Sun Lik in 2002 as a sales coordinator. Ms. Li graduated from Simon Fraser University with Bachelor of Economics in 2002
and earned a Master degree of business at Hong Kong Polytechnic University in 2009.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe Ms. Li qualifies
as the Company&#8217;s director because of her experience in the manufacturing industry.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>FOK Pak Kin Charles, <i>Independent
Director. </i></b>Mr. Fok has served as our director since May 2024. Mr. Fok has two decades of experience in sales and marketing. Mr.
Fok joined Draco International Jewelry in 2015 and currently serves as Sales Manager, with principal responsibility in marketing development
and jewelry product design for overseas markets. Before that, he was a Director at Ninobaby HK Company. Mr. Fok first joined Ninobaby
in 2009, where he was responsible for overseeing manufacturing management and product design and development such as footwear, clothing
and accessories. He also explored new markets for Ninobaby HK Company in the US and Taiwan. Mr. Fok started his career in Marketing at
Boulevard Advertising in Canada in 2002. He then continued his sales and marketing career in Hong Kong. He joined King Sing Jewelry Ltd.
from 2003 through 2006 and Max Ent Ltd from 2006 through 2009 where he promoted the jewelry and electronic products to overseas customers.
Mr. Fok obtained his Bachelor of Art degree with major in economic from University of Saskatchewan in Canada in 2003.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We believe Mr. Fok qualifies
as the Company&#8217;s director because of his experience in marketing and knowledge of markets important to the Company&#8217;s growth
in the future.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><b>LI Shihua, <i>Independent
Director. </i></b>Mr. Li has served as our director since May 2025. Mr. Li has extensive experience in investment. Since May 2024, he
has been acting as a director of the Strategic Development Department of WellCell Tech (HK) Co., Limited, a wholly owned subsidiary of
the Company, and is mainly responsible for the strategic planning, investment, mergers and acquisitions and overseas business expansion
of this company. From July 2023 to March 2024, Mr. Li served as the investment vice president of Silkroad Goldenbridge Capital Management
Limited. From May 2017 to June 2023, Mr. Li served as the investment director of Shenzhen Qianhai Hongzhao Fund Management Co., Ltd. Mr.
Li obtained a bachelor&#8217;s degree in environmental engineering from Sun Yat-sen University in June 2012 and a master&#8217;s degree
in applied finance from the Australian National University in March 2017.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="text-align: justify; font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">We believe Mr. Li qualifies as the Company&#8217;s director because
of his track record in corporate finance and past experience serving in key roles for public companies.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Family Relationships</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">None of the directors or executive
officers have a family relationship as defined in Item 401 of Regulation S-K.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Involvement in Certain Legal Proceedings</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">To the best of the Company&#8217;s
knowledge, none of the Company&#8217;s directors or executive officers has, during the past ten years, been involved in any legal proceedings
described in subparagraph (f) of Item 401 of Regulation S-K.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Board of Directors</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s board
of directors consists of five directors. The Company&#8217;s board of directors has determined that the Company&#8217;s three independent
directors, Li Wan Venus, Fok Pak Kin Charles, and Li Shihua satisfy the &#8220;independence&#8221; requirements of Rule 5605(a)(2)
of the Listing Rules of the Nasdaq Stock Market and Rule 10A-3 under the Exchange Act.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Duties of Directors</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Under British Virgin Islands
law, the Company&#8217;s directors owe fiduciary duties both at common law and under statute, including a statutory duty to act honestly,
in good faith and with a view to the Company&#8217;s best interests. When exercising powers or performing duties as a director, the Company&#8217;s
directors also have a duty to exercise the care, diligence and skills that a reasonable director would exercise in comparable circumstances,
taking into account without limitation the nature of the company, the nature of the decision and the position of the director and the
nature of the responsibilities undertaken by him. In exercising the powers of a director, the directors must exercise their powers for
a proper purpose and shall not act or agree to the company acting in a manner that contravenes the Company&#8217;s amended and restated
memorandum and articles of association or the BVI Act. See &#8220;Description of Shares&#8201;&#8212;&#8201;Differences in Corporate
Law&#8221;, beginning on page  109 of this prospectus, for additional information on the Company&#8217;s directors&#8217; fiduciary
duties under British Virgin Islands law. In fulfilling their duty of care to the Company, the Company&#8217;s directors must ensure compliance
with the Company&#8217;s amended and restated memorandum and articles of association. The Company has the right to seek damages if a duty
owed by the Company&#8217;s directors is breached.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The functions and powers of
the Company&#8217;s board of directors include, among others:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">appointing officers and determining the term of office of the officers;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">authorizing the payment of donations to religious, charitable, public or other bodies, clubs, funds or
associations as deemed advisable;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">exercising the borrowing powers of the company and mortgaging the property of the company;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">executing checks, promissory notes and other negotiable instruments on behalf of the company; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">maintaining or registering a register of relevant charges of the company.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Terms of Directors and Executive Officers</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Each of the Company&#8217;s
directors holds office until a successor has been duly elected and qualified unless the director was appointed by the board of directors,
in which case such director holds office until the next following annual meeting of shareholders at which time such director is eligible
for reelection. All of the Company&#8217;s executive officers are appointed by and serve at the discretion of the Company&#8217;s board
of directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Qualification</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There is currently no shareholding
qualification for directors, although a shareholding qualification for directors may be fixed by the Company&#8217;s shareholders by ordinary
resolution.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Insider Participation Concerning Executive Compensation</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s Board of Directors,
which consists of five members, makes all determinations regarding executive officer compensation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Committees of the Board of Directors</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has established
three committees under the board of directors: An audit committee, a compensation committee and a nominating and corporate governance
committee. Even though the Company is exempted from corporate governance standards because it is a foreign private issuer, the Company
has voluntarily adopted a charter for each of the three committees. Each committee&#8217;s members and functions are described below.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Audit Committee</i>. The
Company&#8217;s audit committee consists of Li Wan Venus, Fok Pak Kin Charles, and Li Shihua. Mr. Li is the chairman of the Company&#8217;s
audit committee. The Company has determined that Ms. Li, Mr. Fok and Mr. Li satisfies the &#8220;independence&#8221; requirements of Section
5605(a)(2) of the Nasdaq Listing Rules and Rule 10A-3 under the Exchange Act. The Company&#8217;s board also has determined that Mr. Li
qualifies as an audit committee financial expert within the meaning of the SEC rules or possesses financial sophistication within the
meaning of the Nasdaq Listing Rules. The audit committee oversees the Company&#8217;s accounting and financial reporting processes and
the audits of the financial statements of the Company.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The audit committee is responsible
for, among other things:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">appointing the independent auditors and pre-approving all auditing and non-auditing services permitted
to be performed by the independent auditors;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">reviewing with the independent auditors any audit problems or difficulties and management&#8217;s response;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">discussing the annual audited financial statements with management and the independent auditors;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">reviewing the adequacy and effectiveness of the Company&#8217;s accounting and internal control policies
and procedures and any steps taken to monitor and control major financial risk exposures;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">reviewing and approving all proposed related party transactions;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">meeting separately and periodically with management and the independent auditors; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">monitoring compliance with the Company&#8217;s code of business conduct and ethics, including reviewing
the adequacy and effectiveness of the Company&#8217;s procedures to ensure proper compliance.&#160;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Compensation Committee.
</i>The Company&#8217;s compensation committee consists of Li Wan Venus, Fok Pak Kin Charles, and Li Shihua. Mr. Fok is the chairman
of the Company&#8217;s compensation committee. The compensation committee assists the board in reviewing and approving the compensation
structure, including all forms of compensation, relating to the Company&#8217;s directors and executive officers. The Company&#8217;s
chief executive officer may not be present at any committee meeting during which his compensation is deliberated.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The compensation committee
is responsible for, among other things:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">reviewing and approving to the board with respect to the total compensation package for the Company&#8217;s
most senior executive officers;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">approving reviewing and recommending to the board with respect to the compensation of the Company&#8217;s
directors; and overseeing the total compensation package for the Company&#8217;s executives other than the most senior executive officers;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">reviewing periodically and approving any long-term incentive compensation or equity plans;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">selecting compensation consultants, legal counsel or other advisors after taking into consideration all
factors relevant to that person&#8217;s independence from management; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">programs or similar arrangements, annual bonuses, employee pension and welfare benefit plans.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Nominating and Corporate
Governance Committee. </i>The Company&#8217;s nominating and corporate governance committee consists of Li Wan Venus, Fok Pak Kin Charles,
and LI Shihua. Ms. Li is the chairperson of the Company&#8217;s nominating and corporate governance committee. The nominating and corporate
governance committee assists the board of directors in selecting individuals qualified to become the Company&#8217;s directors and in
determining the composition of the board and its committees.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The nominating and corporate
governance committee is responsible for, among other things:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">identifying and recommending nominees for election or re-election to the Company&#8217;s board of directors
or for appointment to fill any vacancy;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">reviewing annually with the Company&#8217;s board of directors its current composition in light of the
characteristics of independence, age, skills, experience and availability of service to the Company;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">identifying and recommending to the Company&#8217;s board the directors to serve as members of committees;</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">advising the board periodically with respect to significant developments in the law and practice of corporate
governance as well as the Company&#8217;s compliance with applicable laws and regulations, and making recommendations to the Company&#8217;s
board of directors on all matters of corporate governance and on any corrective action to be taken; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">monitoring compliance with the Company&#8217;s code of business conduct and ethics, including reviewing
the adequacy and effectiveness of the Company&#8217;s procedures to ensure proper compliance.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Corporate Governance</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The business and affairs of
the company are managed under the direction of the Company&#8217;s Board. The Company has conducted Board meetings regularly since inception.
Each of the Company&#8217;s directors has attended all meetings either in person, via telephone conference, or through written consent
for special meetings. In addition to the contact information in this prospectus, the Board has adopted procedures for communication with
the officers and directors as the date hereof. Each shareholder will be given specific information on how he/she can direct communications
to the officers and directors of the Company at the Company&#8217;s annual shareholders&#8217; meetings. All communications from shareholders
are relayed to the members of the Board.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Code of Business Conduct and Ethics, Insider Trading Policy and
Clawback Policy</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have adopted (i) a code
of business conduct and ethics, (ii) an insider trading policy that applies to our directors, officers, and employees, and (iii) a clawback
policy that applies to our directors, officers and employees (collectively, the &#8220;Policies&#8221;).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p><div>

</div><div><a id="a_015"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">COMPENSATION</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="-keep: true">For the years ended March
31, 2023, 2024, and 2025 the aggregate cash compensation paid by the Company to its directors and members of its administrative, supervisory
or management bodies (collectively, the &#8220;Covered Persons&#8221;) was US$30,714, US$36,502 and US$369,685, respectively. For the
six months ended September 30, 2023, and 2024, the aggregate cash compensation paid to the Covered Persons was US$12,941 and US$201,624,
respectively. These payments were made by Pure Beauty, our wholly-owned subsidiary, pursuant to employment agreements (the &#8220;Operative
Employment Agreements&#8221;) entered into with -such Covered Persons or certain of them. Each Operative Employment Agreement provides
for salary, remuneration and benefits.&#160;We have not set aside or accrued any amount to provide pension, retirement or other similar
benefits to the Company&#8217;s directors and executive officers.</span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Compensation of Executive Officers</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">The aggregate cash compensation
paid to Covered Persons mentioned above includes compensation paid to members serving in our administrative or management roles (but not
as directors, or for their services as executive officers rather than as directors) (&#8220;Executive Officers&#8221;).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">On July 5, 2023, we entered
into an executive employment agreement with Mr. Ching Tim Hoi as CEO which is filed as Exhibit 10.1 to this Registration Statement. Pursuant
to the employment agreement, the term of the employment shall commence on July 5, 2023 and shall be an indefinite term, unless terminated
pursuant to the terms of the employment agreement or as mutually agreed by the parties. The executive&#8217;s salary, remuneration and
benefits shall be determined by the Company and shall be specified in the Operative Employment Agreement or any other agreement between
the Company or any of its subsidiaries on one hand and the executive on the other hand. The executive&#8217;s salary, remuneration and
benefits shall be reviewed by the board (or its designated compensation committee) and/or the management of the Company in accordance
with the relevant policies adopted by the Company from time to time. We may terminate the employment for cause, at any time, by summary
notice in writing with immediate effect without payment in lieu of notice, for certain acts of the executive, including but not limited
to: (i) commission of any act of fraud or gross negligence by in the course of his employment; (ii) willful material misrepresentation
at any time by the executive to the board; (iii) the willful failure or refusal to comply with any of the executive&#8217;s material obligations
or to comply with a reasonable and lawful instruction of the board; or (iv) engagement by the executive in any misconduct or the commission
by the executive of any act that is materially injurious or detrimental to the substantial interest of the Company and/or its subsidiaries
and affiliated entities, as determined by the board. The executive has agreed, throughout the term of the employment and at all times
thereafter, that the executive shall keep in strict confidence and not to use all non-public information relating to the technology, business,
financial condition and other aspects of the Company. In addition, the executive has agreed to be bound by non-competition and non-solicitation
restrictions during the term of his employment and for twelve (12) months following termination of the employment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">On May 13, 2024, we entered
into an executive employment agreement with Ms. Wan Yee Hing as CFO which is filed as Exhibit 10.2 to this Registration Statement. Pursuant
to the employment agreement, the term of the employment shall commence on May 13, 2024 and shall be an indefinite term, unless terminated
pursuant to the terms of the employment agreement or as mutually agreed by the parties. The executive&#8217;s salary, remuneration and
benefits shall be determined by the Company and shall be specified in the Operative Employment Agreement or any other agreement between
the Company or any of its subsidiaries on one hand and the executive on the other hand. The executive&#8217;s salary, remuneration and
benefits shall be reviewed by the board (or its designated compensation committee) and/or the management of the Company in accordance
with the relevant policies adopted by the Company from time to time. We may terminate the employment for cause, at any time, by summary
notice in writing with immediate effect without payment in lieu of notice, for certain acts of the executive, including but not limited
to: (i) commission of any act of fraud or gross negligence by in the course of his employment; (ii) willful material misrepresentation
at any time by the executive to the board; (iii) the willful failure or refusal to comply with any of the executive&#8217;s material obligations
or to comply with a reasonable and lawful instruction of the board; or (iv) engagement by the executive in any misconduct or the commission
by the executive of any act that is materially injurious or detrimental to the substantial interest of the Company and/or its subsidiaries
and affiliated entities, as determined by the board. The executive has agreed, throughout the term of the employment and at all times
thereafter, that the executive shall keep in strict confidence and not to use all non-public information relating to the technology, business,
financial condition and other aspects of the Company. In addition, the executive has agreed to be bound by non-competition and non-solicitation
restrictions during the term of his employment and for twelve (12) months following termination of the employment.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 48pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">Except as disclosed above,
we have not entered into other employment agreements with the Company&#8217;s officers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Compensation of Directors</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="-keep: true">The aggregate cash compensation
paid to Covered Persons mentioned above also includes compensation paid to our directors (for their services as directors).
Specifically, for the fiscal year ended March 31, 2024, the Company did not compensate its independent non-executive directors, and
the aggregate compensation paid to executive directors was US$25,580; and for the fiscal year ended March 31, 2025, the aggregate
cash compensation paid by the Company to its independent non-executive directors was US$37,974, and the aggregate compensation paid
to executive directors was US$257,504. For the six months ended September 30, 2024, the aggregate cash compensation paid by the
Company to its independent non-executive directors was US$16,347,&#160;and the aggregate compensation paid to executive directors
was US$125,142.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><b><i><span style="text-decoration:underline">2024 Equity Incentive Plan</span></i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">In September 2024, our Board of Directors
adopted the Raytech Holding Limited 2024 Equity Incentive Plan (the &#8220;2024 Plan&#8221;), which was subsequently approved by our shareholders
on October 23, 2024. The purpose of the 2024 Plan is to promote the long-term success of the Company and the creation of shareholder value
by (a) encouraging Employees, Directors and Consultants to focus on the Company&#8217;s performance, (b) encouraging the attraction and
retention of Employees, Directors and Consultants with exceptional qualifications, and (c) providing incentives that align the interests
of Employees, Directors and Consultants with those of the shareholders of the Company. The 2024 Plan provides for the grant of Incentive
Share Options, Non-statutory Share Options, Restricted Shares, Restricted Share Units, Share Appreciation Rights, Performance Units, and
Performance Shares (collectively, &#8220;Equity Awards&#8221;). The holder of such Equity Awards is referred to as a &#8220;Participant&#8221;.
We believe that the 2024 Plan will provide the eligible Participants an opportunity to benefit from the success of the Company and our
affiliates.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">The initial maximum aggregate number of
Ordinary Shares which may be granted and issuable pursuant to the 2024 Plan is 2,500,000 Ordinary Shares. This number is subject to proportionate
adjustments by the Administrator (as defined below) in the event of any dividend (other than normal cash dividends), share split, combination
or exchange of Shares, amalgamation, arrangement or consolidation, spin-off, recapitalization or other distribution of Company assets
to its shareholders, or any other change affecting the Shares or the share price of a Share. The Administrator shall make such proportionate
adjustments as it, in its discretion, may deem appropriate to reflect such change with respect to (i) the aggregate number and type of
shares that may be issued under the 2024 Plan (including adjustments of the limitations in Section 3 of the 2024 Plan); (ii) the terms
and conditions of any outstanding Equity Awards (including any applicable performance targets or criteria); and (iii) the grant or exercise
price per share for any outstanding Equity Awards under the 2024 Plan.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">The following paragraphs describe
the principal terms of the 2024 Plan.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>Administration.</i> The 2024 Plan is
administered by the Board or a committee appointed by the Board (the &#8220;Administrator&#8221;). If a committee is appointed, it shall
consist of no less than two (2) non-employee directors and be comprised solely of non-employee directors who are (a) &#8220;outside directors&#8221;
under Section 162(m) of the Code, (b) &#8220;non-employee directors&#8221; under Rule 16b-3 of the Exchange Act, and (c) who meet any
listing standards prescribed by the principal securities market on which the Company&#8217;s equity securities are traded. The Administrator&#8217;s
decisions, determinations, and interpretations will be final and binding on all Participants and any other holders of Equity Awards. Any
decision or action taken by the Administrator in connection with the construction, administration, interpretation, and effect of the 2024
Plan shall, to the maximum extent permitted by Applicable Laws, be within its absolute discretion and shall be final, binding, and conclusive
upon the Company and all Participants.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>Eligibility</i>. As determined by the
Administrator, Nonstatutory Share Options, Restricted Shares, Restricted Share Units, Share Appreciation Rights, Performance Units, or
Performance Shares may be granted to Employees, Directors, and Consultants (&#8220;Service Providers&#8221;) of the Company or any Subsidiary,
either alone or in combination with other Equity Awards. Incentive Share Options may be granted to Employees of the Company or any Subsidiary.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>Award Agreement. </i>Equity Awards
under the 2024 Plan shall be evidenced by written or electronic Award Agreements that set forth the terms, conditions, and limitations
for each Equity Award, which may include the term of an Equity Award, the provisions applicable in the event the Participant&#8217;s employment
or service terminates, and the Company&#8217;s authority to unilaterally or bilaterally amend, modify, suspend, cancel, or rescind an
Equity Award, subject to the terms of the 2024 Plan.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>Vesting Conditions. </i>Equity Awards
may be subject to vesting conditions, including time-based and/or performance-based criteria, as determined by the Administrator in its
sole discretion and set forth in the applicable Award Agreement. For example, during the applicable Period of Restriction, Restricted
Shares or Restricted Share Units shall be subject to forfeiture based on such conditions as the Administrator may determine. Any such
risk of forfeiture may be waived or terminated, or the Period of Restriction shortened, at any time by the Administrator on such basis
as it deems appropriate.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><i>Restriction on Transfer
and Sale.</i> Generally, Equity Awards are non-transferable other than by will or the laws of descent and distribution, unless otherwise
permitted by the Administrator in limited circumstances (such as transfers to certain family members or trusts for estate planning purposes).
Any Shares issued pursuant to Equity Awards granted under the 2024 Plan shall be subject to all restrictions upon the transfer thereof
which may be now or hereafter imposed by the Company&#8217;s memorandum and articles of association. In addition, either at the time an
Equity Award is granted or by subsequent action, the Administrator may impose such restrictions, conditions, or limitations as it determines
appropriate as to the timing and manner of any resales or other subsequent transfers by a Participant, or a holder of Shares acquired
pursuant to the 2024 Plan, including (a) restrictions under an insider trading policy, (b) lock-up arrangements with an placement agent
of the Company, and (c) restrictions as to the use of a specified brokerage firm.</p><div>
</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>Term.</i> The 2024 Plan will expire
on, and no Equity Award may be granted pursuant to the 2024 Plan after, the tenth anniversary of its Effective Date. Any Equity Awards
that are outstanding on the tenth anniversary of the Effective Date shall remain in force according to their terms and the terms of the
2024 Plan.</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in"><i>Amendment and Termination. </i>The
Board in its sole discretion may at any time amend, alter, suspend, or terminate the 2024 Plan, provided that no such action may adversely
affect in any material way any Equity Award previously granted without the prior written consent of the Participant, except for amendments
necessary to comply with Applicable Laws. Shareholder approval for amendments will be obtained to the extent necessary and desirable to
comply with Applicable Laws.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of the date of this prospectus, none of our Covered Persons held
any outstanding share options, restricted shares, restricted share units, or other equity-based awards granted by the Company under our
2024 Equity Incentive Plan or any other equity compensation plan of the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="a_016"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PRINCIPAL SHAREHOLDERS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The following table sets forth
information with respect to the beneficial ownership, within the meaning of Rule 13d-3 under the Exchange Act, of the Company&#8217;s
Ordinary Shares as of the date of this prospectus, and as adjusted to reflect the sale of the Ordinary Shares offered in this offering
for:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">each of the Company&#8217;s directors, director nominees and executive officers who beneficially own the
Company&#8217;s Ordinary Shares; and</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">each person known to the Company to own beneficially more than 5.0% of the Company&#8217;s Ordinary Shares.</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Beneficial ownership includes
voting or dispositive power with respect to the securities. Except as indicated below, and subject to applicable community property laws,
the persons named in the table have sole voting and dispositive power with respect to all Ordinary Shares shown as beneficially owned
by them. Percentage of beneficial ownership of each listed person prior to this offering is based on 17,613,083 Ordinary Shares outstanding
as of the date of this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Information with respect to
beneficial ownership has been furnished by each director, officer or beneficial owner of 5% or more of the Company&#8217;s Ordinary Shares.
Beneficial ownership is determined in accordance with the rules of the SEC and generally requires that such person have voting or investment
power with respect to securities. In computing the number of Ordinary Shares beneficially owned by a person listed below and the percentage
ownership of such person, Ordinary Shares underlying options, warrants or convertible securities held by each such person that are exercisable
or convertible within 60 days of the date of this prospectus are deemed outstanding, but are not deemed outstanding for computing the
percentage ownership of any other person.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 12pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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Beneficially Owned<br/>
After this Offering</b></p></td><td style="padding-bottom: 1.5pt; font-size: 10pt">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="font-size: 10pt; font-weight: bold"><span style="font-size: 10pt"><b>Directors and Executive Officers<sup>(1)</sup>: &#160;</b></span></td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
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    <td style="width: 1%; font-size: 10pt; text-align: left">&#160;</td><td style="width: 9%; font-size: 10pt; text-align: right">72.7</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td><td style="width: 1%; font-size: 10pt">&#160;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&#160;</td><td style="width: 9%; font-size: 10pt; text-align: right">12,800,000</td><td style="width: 1%; font-size: 10pt; text-align: left">&#160;</td><td style="width: 1%; font-size: 10pt">&#160;</td>
    <td style="width: 1%; font-size: 10pt; text-align: left">&#160;</td><td style="width: 9%; font-size: 10pt; text-align: right">26.9</td><td style="width: 1%; font-size: 10pt; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">(1)</td>
    <td style="text-align: justify">Unless otherwise indicated, the business address of each of the individuals is Unit 609, 6/F, Nan Fung Commercial Centre, No.19 Lam Lok Street, Kowloon Bay, Hong Kong.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company is not aware of
any arrangement that may, at a subsequent date, result in a change of control of the Company.</p><div>




</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 111; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->103<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><div><a id="a_017"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">RELATED PARTY TRANSACTIONS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In addition to the executive
officer and director compensation arrangements discussed in &#8220;Compensation of Executive Officers,&#8221; below we describe transactions
since incorporation, to which the Company has been a participant, in which the amount involved in the transaction is material to the Company
and in which any of the following is a party: (a) enterprises that directly or indirectly through one or more intermediaries, control
or are controlled by, or are under common control with, the Company; (b) associates; (c) individuals owning, directly or indirectly, an
interest in the voting power of the Company that gives them significant influence over the Company, and close members of any such individual&#8217;s
family; (d) key management personnel, that is, those persons having authority and responsibility for planning, directing and controlling
the activities of the Company, including directors and senior management of companies and close members of such individuals&#8217; families;
and (e) enterprises in which a substantial interest in the voting power is owned, directly or indirectly, by any person described in (c)
or (d) or over which such a person is able to exercise significant influence.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Set forth below are the related
party transactions that we have entered into during the last three fiscal years and up to the date of this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>a. Nature of Related Party Relationships</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="background-color: white">
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    <td style="vertical-align: bottom; width: 1%">&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
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  <tr style="background-color: White">
    <td style="text-align: left; vertical-align: top">Raytech Holdings Company Limited&#160;</td>
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  <tr style="background-color: rgb(204,238,255)">
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    <td style="text-align: left; vertical-align: top">&#160;</td>
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  <tr style="background-color: White">
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>b. Due from a director</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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    <td style="white-space: nowrap; font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">Related party relationship</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">(1) </td>
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  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The receivable represented
payments made on behalf of the director and shareholder by Pure Beauty. The loan agreement provides that borrowings are interest free
and are payable on demand.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>c. Accounts payable &#8211; related party</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">These accounts payable to
Zhongshan Raytech was related to products we purchased from Zhongshan Raytech.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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 September 30, <br/> 2024</td><td style="white-space: nowrap; padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>d. Related party transactions</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-indent: -24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt"><b><i>Purchases of products from a related party</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="white-space: nowrap; font-weight: bold; border-bottom: Black 1.5pt solid">Name</td><td style="white-space: nowrap; font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 4pt double; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; text-align: right">30,490,751</td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
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  </table><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of the date of this prospectus, the purchase from Zhongshan Raytech is US$7,300,575.</span></td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Other Transactions&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pure Beauty Manufacturing
Company Limited leased an aggregate of 1,343 square feet of property, located at Unit 609, 6/F, Nan Fung Commercial Centre, 19 Lam Lok
Street, Kowloon Bay, Hong Kong, from Raytech Holdings Company Limited, a company controlled by our CEO and Chairman, Mr. Ching. Pursuant
to the lease agreement between Raytech Holdings Company Limited and Pure Beauty, the lease term is one year, from April 1, 2025 to March
31, 2026 and the monthly rent is HKD25,000 (US$3,213).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">From April 1, 2023 to March
31, 2024, Pure Beauty Manufacturing Company Limited leased an aggregate of 1,343 square feet of property, located at Unit 609, 6/F, Nan
Fung Commercial Centre, 19 Lam Lok Street, Kowloon Bay, Hong Kong, from Wong Yuk Lin, the Assistant to Executive Director of Pure Beauty,
who leased the property from Raytech Holdings Company Limited, a company controlled by our CEO and Chairman, Mr. Ching. Pursuant to each
of the lease agreement between Wong Yuk Lin and Pure Beauty and the lease agreement between Raytech Holdings Company Limited and Wong
Yuk Lin, the lease term is one year, from April 1, 2023 to March 31, 2024 and the monthly rent is HKD25,000 (US$3,194).</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Policies and Procedures for Related Party Transactions</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company&#8217;s board
of directors has established an audit committee, which is tasked with review and approval of all related party transactions. In addition,
the Company has adopted a related party transactions policy. The related party transactions policy requires the review and approval of
related party transactions by the Company&#8217;s audit committee before the entry into such related party transactions.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>




</div><div><a id="a_018"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DESCRIPTION OF SHARES</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Company was incorporated as a BVI business company under the laws of the British Virgin Islands on June 24, 2022. As of the date of this
prospectus, the Company&#8217;s authorized shares consist of 8,000,000,000 Ordinary Shares with a par value of $0.00000625 per share.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">As
of the date of this prospectus, prior to the completion of the offering, there were 17,613,083 Ordinary Shares issued and outstanding.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 10, 2023, we filed
our amended and restated memorandum and articles of association with the Registrar of Corporate Affairs in the British Virgin Islands
to increase our authorized shares from 50,000 ordinary shares, par value of $1.00 per share, to 8,000,000,000 Ordinary Shares, par value
of $0.00000625 per share and effectuated a forward split of all issued and outstanding shares at a ratio of 160,000-for-1.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In August 2023, Market Tycoon
Investments Limited transferred 480,000 Ordinary Shares to Mr. Wong Tai Chi at $0.00000625 per share, and APTC Holdings Limited transferred
800,000 Ordinary Shares to Ms. Look Wai Yi at $0.00000625 per share. In October 2023, Value Classic Global Limited transferred 640,000
Ordinary Shares to Crystal Charm Investments Limited, a British Virgin Islands company, at $0.00000625 per share, Mr. Wong Tai Chi transferred
480,000 Ordinary Shares to Value Crystal Investment Limited, a British Virgin Islands company, at $0.00000625 per share, and Ms. Look
Wai Yi transferred 800,000 Ordinary Shares to Ace Challenger Limited, a British Virgin Islands company, at $0.00000625 per share.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On May 17, 2024, we consummated
the sale of 1,500,000 Ordinary Shares (the &#8220;IPO Shares&#8221;) in our initial public offering. The Company completed the IPO on
a firm commitment basis pursuant to the Company&#8217;s registration statement on Form F-1, as amended (File No. 333-275197), filed with
the Securities and Exchange Commission, which was declared effective by the Securities and Exchange Commission on May 13, 2024. The IPO
Shares were priced at $4.00 per share. The Company also granted the underwriter a 45-day option to purchase up to an additional 225,000
Ordinary Shares to cover over-allotments, if any (the &#8220;Over-Allotment Option&#8221;). The Ordinary Shares were approved for listing
on The Nasdaq Capital Market on May 13, 2024 and commenced trading under the symbol <span style="font-family: Times New Roman, Times, Serif">&#8220;</span>RAY&#8221;
on May 15, 2024.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On July 5, 2024, upon the
underwriter&#8217;s partial exercise of the Over-Allotment Option, the Company sold an additional 113,083 Ordinary Shares at $4.00 per
share. As a result, the Company has raised gross proceeds of $6,452,332 in the IPO, including the partial exercise of the Over-Allotment
Option, before deducting underwriting discounts and offering expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Ordinary Shares</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>General</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">All
of the Company&#8217;s issued shares are validly issued, fully paid and non-assessable. Certificates evidencing the shares are
issued in registered form. There are no limitations imposed by the Company&#8217;s amended and restated memorandum and articles of
association on the rights of non-resident or foreign shareholders to hold or exercise voting rights on the Company&#8217;s shares.
In addition, there are no provisions in the Company&#8217;s memorandum and articles of association governing the ownership threshold
above which shareholder ownership must be disclosed.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the BVI Act, the Ordinary Shares are deemed to be issued when the name of the shareholder is entered in the Company&#8217;s register of
members. If (a) information that is required to be entered in the register of members is omitted from the register or is inaccurately
entered in the register, or (b) there is unreasonable delay in entering information in the register, a shareholder of the company, or
any person who is aggrieved by the omission, inaccuracy or delay, may apply to the British Virgin Islands Courts for an order that the
register be rectified, and the court may either refuse the application or order the rectification of the register, and may direct the
company to pay all costs of the application and any damages the applicant may have sustained.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Dividends</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
holders of the Company&#8217;s Ordinary Shares are entitled to such dividends as may be declared by the Company&#8217;s board of directors
subject to the BVI Act and the Company&#8217;s amended and restated memorandum and articles of association.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Voting Rights</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Any
action required or permitted to be taken by the shareholders must be effected at a duly called meeting of the shareholders entitled to
vote on such action or may be effected by a resolution of members in writing, each in accordance with the amended and restated memorandum
and articles of association. At each meeting of shareholders, each shareholder who is present in person or by proxy (or, in the case of
a shareholder being a corporation, by its duly authorized representative) will have one vote for each share that such shareholder holds.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Transfer of Ordinary Shares</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Subject
to the restrictions contained in the Company&#8217;s amended and restated articles of association, any of the Company&#8217;s shareholders
may transfer all or any of his or her Ordinary Shares by an instrument of transfer in the usual or common form or any other form approved
by the Company&#8217;s board of directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Liquidation</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">As
permitted by the BVI Act and the Company&#8217;s amended and restated memorandum and articles of association, the Company may be voluntarily
liquidated under Part XII of the BVI Act by resolution of directors and resolution of shareholders if the Company&#8217;s assets exceed
the Company&#8217;s liabilities and the Company is able to pay the Company&#8217;s debts as they fall due. The Company may also be wound
up in circumstances where the Company is insolvent in accordance with the terms of the BVI Insolvency Act, Revised Edition 2020.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If the Company is wound up
and the assets available for distribution among the Company&#8217;s shareholders are more than sufficient to repay all amounts paid to
the Company on account of the issue of shares immediately prior to the winding up, the excess shall be distributable pari passu among
those shareholders in proportion to the amount paid up immediately prior to the winding up on the shares held by them, respectively. If
the Company is wound up and the assets available for distribution among the shareholders as such are insufficient to repay the whole of
the amounts paid to the Company on account of the issue of shares, those assets shall be distributed so that, to the greatest extent possible,
the losses shall be borne by the shareholders in proportion to the amounts paid up immediately prior to the winding up on the shares held
by them, respectively. If the Company is wound up, the liquidator appointed by the Company may, in accordance with the BVI Act, divide
among the Company&#8217;s shareholders in specie or kind the whole or any part of the Company&#8217;s assets (whether they shall consist
of property of the same kind or not) and may, for such purpose, set such value as the liquidator deems fair upon any property to be divided
and may determine how such division shall be carried out as between the shareholders or different classes of shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Calls on Ordinary Shares and Forfeiture of Ordinary Shares</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">The Company&#8217;s
board of directors may from time to time make calls upon shareholders for any Ordinary Shares held but not fully paid, amounts unpaid
on their Ordinary Shares in a notice served to such shareholders at least 14 days prior to the specified time of payment. The Ordinary
Shares that have been called upon and remain unpaid are subject to forfeiture.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Redemption of Ordinary Shares</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Subject
to the provisions of the BVI Act, the Company may issue shares on terms that are subject to redemption, at the Company&#8217;s option
or at the option of the holders, on such terms and in such manner as may be determined by the Company&#8217;s amended and restated memorandum
and articles of association and subject to any applicable requirements imposed from time to time by the BVI Act, the SEC, the Nasdaq Capital
Market, or by any recognized stock exchange on which the Company&#8217;s securities are listed.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

</div><!-- Field: Page; Sequence: 115; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Variations of Rights of Shares</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">If
at any time the Company is authorized to issue more than one class of shares, all or any of the rights attached to any class of shares
may be amended only with the consent in writing of or by a resolution passed at a meeting of not less than 50 percent of the shares of
the class to be affected.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>General Meetings of Shareholders</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Company&#8217;s amended and restated memorandum and articles of association, a copy of the notice of any meeting of shareholders shall
be given not less than seven days before the date of the proposed meeting to those persons whose names appear as shareholders in the register
of members on the date of the notice and are entitled to vote at the meeting. The Company&#8217;s board of directors shall call a meeting
of shareholders upon the written request of shareholders holding at least 30% of the Company&#8217;s outstanding voting shares. In addition,
the Company&#8217;s board of directors may call a meeting of shareholders on its own motion. A meeting of shareholders may be called on
short notice if at least 90% of the shares entitled to vote on the matters to be considered at the meeting have agreed to short notice
of the meeting, or if all members holding shares entitled to vote on all or any matters to be considered at the meeting have waived notice
and presence at the meeting shall be deemed to constitute waiver for this purpose.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">At
any meeting of shareholders, a quorum will be present if there are shareholders present in person or by proxy representing not less than
50 percent of the shares entitled to vote on the resolutions to be considered at the meeting. Such quorum may be represented by only a
single shareholder or proxy. If no quorum is present within two hours of the start time of the meeting, the meeting shall be dissolved
if it was requested by shareholders. In any other case, the meeting shall be adjourned to the next business day, and if shareholders representing
not less than one-third of the votes of the Ordinary Shares or each class of shares entitled to vote on the matters to be considered at
the meeting are present within one hour of the start time of the adjourned meeting, a quorum will be present. If not, the meeting will
be dissolved. No business may be transacted at any meeting of shareholders unless a quorum is present at the commencement of business.
If present, the chair of our board of directors shall be the chair presiding at any meeting of the shareholders. If the chair of our board
is not present then the members present shall choose a shareholder to act to chair the meeting of the shareholders. If the shareholders
are unable to choose a chairman for any reason, then the person representing the greatest number of voting shares present in person or
by proxy shall preside as chairman, failing which the oldest individual member or member representative shall take the chair.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A
corporation that is a shareholder shall be deemed for the purpose of the Company&#8217;s amended and restated memorandum and articles
of association to be present in person if represented by its duly authorized representative. This duly authorized representative shall
be entitled to exercise the same powers on behalf of the corporation which he represents as that corporation could exercise if it were
the Company&#8217;s individual shareholder.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Inspection of Books and Records</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the BVI Act, members of the general public, on payment of a nominal fee, can obtain copies of the public records of a company available
at the office of the Registrar of Corporate Affairs in the British Virgin Islands, which will include the company&#8217;s certificate
of incorporation, its memorandum and articles of association (with any amendments) and records of license fees paid to date and will also
disclose any articles of dissolution, articles of merger and a register of charges if the company has elected to file such a register.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A
member of the Company is also entitled, upon giving written notice to the Company, to inspect (i) the Company&#8217;s amended and restated
memorandum and articles of association, (ii) the register of members, (iii) the register of directors and (iv) minutes of meetings and
resolutions of members and of those classes of members of which that member is a member, and to make copies and take extracts from the
documents and records referred to in (i) to (iv) above. However, the Company&#8217;s directors may, if they are satisfied that it would
be contrary to the company&#8217;s interests to allow a member to inspect any document, or part of a document specified in (ii) to (iv)
above, refuse to permit the member to inspect the document or limit the inspection of the document, including limiting the making of copies
or the taking of extracts or records. See &#8220;Where You Can Find Additional Information.&#8221; on page 127 of this prospectus.
Where a company fails or refuses to permit a member to inspect a document or permits a member to inspect a document subject to limitations,
that member may apply to the BVI court for an order that he should be permitted to inspect the document or to inspect the document without
limitation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></p><div>

</div><!-- Field: Page; Sequence: 116; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->108<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Changes in Maximum Number of Shares our Company is Authorized
to Issue</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Company&#8217;s directors or shareholders may from time to time by resolution of directors or resolution of shareholders increase or decrease
the maximum number of shares our Company is authorized to issue, by amendment to the memorandum of association.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Differences in Corporate Law</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
BVI Act and the laws of the British Virgin Islands affecting BVI business companies like the Company and the Company&#8217;s shareholders
differ from laws applicable to U.S. corporations and their shareholders. Set forth below is a summary of the significant differences between
the provisions of the laws of the British Virgin Islands applicable to the Company and the laws applicable to companies incorporated in
the United States and their shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Mergers and Similar Arrangements</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under the laws of the British Virgin Islands, two or more companies
may merge or consolidate in accordance with Section 170 of the BVI Act. A merger means the merging of two or more constituent companies
into one of the constituent companies (the &#8220;surviving company&#8221;) and a consolidation means the uniting of two or more constituent
companies into a new company (the &#8220;consolidated company&#8221;). The procedure for a merger or consolidation between the company
and another company (which need not be a BVI company, and which may be the company&#8217;s parent or subsidiary, but need not be) is set
out in the BVI Act. In order to merge or consolidate, the directors of each constituent company must approve a written plan of merger
or consolidation, which with the exception of a merger between a parent company and its subsidiaries, must also be approved by a resolution
of a majority of the shareholders voting at a quorate meeting of shareholders or by written resolution of the shareholders of the BVI
company or BVI companies which are to merge. While a director may vote on the plan of merger or consolidation, or any other matter, even
if he has a financial interest in the plan, the interested director must disclose the interest to all other directors of the company promptly
upon becoming aware of the fact that he is interested in a transaction entered into or to be entered into by the company. A transaction
entered into by the Company in respect of which a director is interested (including a merger or consolidation) is voidable by the Company
unless the director&#8217;s interest was (a) disclosed to the board prior to the transaction or (b) the transaction is (i) between the
director and the company and (ii) the transaction is in the ordinary course of the company&#8217;s business and on usual terms and conditions.
Notwithstanding the above, a transaction entered into by the company is not voidable if the material facts of the interest are known to
the shareholders and they approve or ratify it or the company received fair value for the transaction. In any event, all shareholders
must be given a copy of the plan of merger or consolidation irrespective of whether they are entitled to vote at the meeting to approve
the plan of merger or consolidation. A foreign company which is able under the laws of its foreign jurisdiction to participate in the
merger or consolidation is required by the BVI Act to comply with the laws of that foreign jurisdiction in relation to the merger or consolidation.
The shareholders of the constituent companies are not required to receive shares of the surviving or consolidated company but may receive
debt obligations or other securities of the surviving or consolidated company, other assets, or a combination thereof. Further, some or
all of the shares of a class or series may be converted into a kind of asset while the other shares of the same class or series may receive
a different kind of asset. As such, not all the shares of a class or series must receive the same kind of consideration. After the plan
of merger or consolidation has been approved by the directors and authorized, if required, by a resolution of the shareholders, articles
of merger or consolidation are executed by each company and filed with the Registrar of Corporate Affairs in the British Virgin Islands.
The merger is effective on the date that the articles of merger are registered with the Registrar or on such subsequent date, not exceeding
thirty days, as is stated in the articles of merger or consolidation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">As
soon as a merger becomes effective: (a) the surviving company or consolidated company (so far as is consistent with its memorandum and
articles of association, as amended or established by the articles of merger or consolidation) has all rights, privileges, immunities,
powers, objects and purposes of each of the constituent companies; (b) in the case of a merger, the memorandum and articles of association
of any surviving company are automatically amended to the extent, if any, that changes to its memorandum and articles of association are
contained in the articles of merger or, in the case of a consolidation, the memorandum and articles of association filed with the articles
of consolidation are the memorandum and articles of the consolidated company; (c) assets of every description, including choses-in-action
and the business of each of the constituent companies, immediately vest in the surviving company or consolidated company; (d) the surviving
company or consolidated company is liable for all claims, debts, liabilities and obligations of each of the constituent companies; (e)
no conviction, judgment, ruling, order, claim, debt, liability or obligation due or to become due, and no cause existing, against a constituent
company or against any member, director, officer or agent thereof, is released or impaired by the merger or consolidation; and (f) no
proceedings, whether civil or criminal, pending at the time of a merger by or against a constituent company, or against any member, director,
officer or agent thereof, are abated or discontinued by the merger or consolidation; but: (i) the proceedings may be enforced, prosecuted,
settled or compromised by or against the surviving company or consolidated company or against the member, director, officer or agent thereof,
as the case may be; or (ii) the surviving company or consolidated company may be substituted in the proceedings for a constituent company.
The Registrar of Corporate Affairs in the British Virgin Islands shall strike off the register of companies each constituent company that
is not the surviving company in the case of a merger and all constituent companies in the case of a consolidation. If the directors determine
it to be in the best interests of the company, it is also possible for a merger to be approved as a Court approved plan of arrangement
or scheme of arrangement in accordance with the BVI Act.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></p><div>

</div><!-- Field: Page; Sequence: 117; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->109<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A
shareholder may dissent from (a) a merger if the company is a constituent company, unless the company is the surviving company and the
member continues to hold the same or similar shares; (b) a consolidation if the company is a constituent company; (c) any sale, transfer,
lease, exchange or other disposition of more than 50 per cent in value of the assets or business of the company if not made in the usual
or regular course of the business carried on by the company but not including: (i) a disposition pursuant to an order of the court having
jurisdiction in the matter, (ii) a disposition for money on terms requiring all or substantially all net proceeds to be distributed to
the members in accordance with their respective interest within one year after the date of disposition, or (iii) a transfer pursuant to
the power of the directors to transfer assets for the protection thereof; (d) a compulsory redemption of 10 per cent or fewer of the issued
shares of the company required by the holders of 90 percent or more of the shares of the company pursuant to the terms of the BVI Act;
and (e) a plan of arrangement, if permitted by the British Virgin Islands Court (each, an Action). A shareholder properly exercising his
dissent rights is entitled to a cash payment equal to the fair value of his shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A
shareholder dissenting from an Action must object in writing to the Action before the vote by the shareholders on the merger or consolidation,
unless notice of the meeting was not given to the shareholder. If the merger or consolidation is approved by the shareholders, the company
must give notice of this fact to each shareholder within 20 days who gave written objection. Such objection shall include a statement
that the member proposes to demand payment for his or her shares if the Action is taken. These shareholders then have 20 days to give
to the company their written election in the form specified by the BVI Act to dissent from the Action, provided that in the case of a
merger, the 20 days starts when the plan of merger is delivered to the shareholder. Upon giving notice of his election to dissent, a shareholder
ceases to have any shareholder rights except the right to be paid the fair value of his shares. As such, the merger or consolidation may
proceed in the ordinary course notwithstanding his dissent. Within seven days of the later of the delivery of the notice of election to
dissent and the effective date of the merger or consolidation, the company shall make a written offer to each dissenting shareholder to
purchase his shares at a specified price per share that the company determines to be the fair value of the shares. The company and the
shareholder then have 30 days to agree upon the price. If the company and a shareholder fail to agree on the price within the 30 days,
then the company and the shareholder shall, within 20 days immediately following the expiration of the 30-day period, each designate an
appraiser and these two appraisers shall designate a third appraiser. These three appraisers shall fix the fair value of the shares as
of the close of business on the day prior to the shareholders&#8217; approval of the transaction without taking into account any change
in value as a result of the transaction.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Shareholders&#8217; Suits</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">There
are both statutory and common law remedies available to the Company&#8217;s shareholders as a matter of British Virgin Islands law. These
are summarized below.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Prejudiced members</span></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A
shareholder who considers that the affairs of the company have been, are being, or are likely to be, conducted in a manner that is, or
any act or acts of the company have been, or are, likely to be oppressive, unfairly discriminatory or unfairly prejudicial to him in that
capacity, can apply to the court under Section 184I of the BVI Act, inter alia, for an order that his shares be acquired, that he be provided
compensation, that the Court regulate the future conduct of the company, or that any decision of the company which contravenes the BVI
Act or the Company&#8217;s amended and restated memorandum and articles of association be set aside.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 118; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Derivative actions</span></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Section
184C of the BVI Act provides that a shareholder of a company may, with the leave of the Court, bring an action in the name of the company
in certain circumstances to redress any wrong done to it. Such actions are known as derivative actions. The BVI Court may only grant permission
to bring a derivative action where the following circumstances apply:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">&#9679;</td><td style="text-align: justify">the company does not intend to bring, diligently continue
or defend or discontinue proceedings; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">&#9679;</td><td style="text-align: justify">it is in the interests of the company that the conduct of
the proceedings not be left to the directors or to the determination of the shareholders as a whole.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">When
considering whether to grant leave, the British Virgin Islands Court is also required to have regard to the following matters:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">&#9679;</td><td style="text-align: justify">whether the shareholder is acting in good faith;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">&#9679;</td><td style="text-align: justify">whether a derivative action is in the company&#8217;s best
interests, taking into account the directors&#8217; views on commercial matters;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">&#9679;</td><td style="text-align: justify">whether the action is likely to proceed;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">&#9679;</td><td style="text-align: justify">the costs of the proceedings in relation to the relief likely
to be obtained; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 0.5in"/><td style="width: 0.25in; text-align: justify">&#9679;</td><td style="text-align: justify">whether an alternative remedy is available.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Just and equitable winding up</span></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">In
addition to the statutory remedies outlined above, shareholders can also petition the BVI Court for the winding up of a company under
the BVI Insolvency Act, Revised Edition 2020 for the appointment of a liquidator to liquidate the company and the court may appoint a
liquidator for the company if it is of the opinion that it is just and equitable for the court to so order. Save in exceptional circumstances,
this remedy is generally only available where the company has been operated as a quasi-partnership and trust and confidence between the
partners has broken down.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Indemnification of directors and executive officers and limitation
of liability</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Company&#8217;s amended and restated memorandum and articles of association provides that, subject to certain limitations, the Company
indemnifies against all expenses, including legal fees, and against all judgments, fines and amounts paid in settlement and reasonably
incurred in connection with legal, administrative or investigative proceedings for any person who:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">is or was a party or is threatened to be made a party to any
threatened, pending or completed proceedings, whether civil, criminal, administrative or investigative, by reason of the fact that the
person is or was the Company&#8217;s director; or</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">is or was, at the Company&#8217;s request, serving as a director
or officer of, or in any other capacity is or was acting for, another body corporate or a partnership, joint venture, trust or other
enterprise.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"></p><div>

</div><!-- Field: Page; Sequence: 119; Value: 1 --><div>
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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">These
indemnities only apply if the person acted honestly and in good faith with a view to the Company&#8217;s best interests and, in the case
of criminal proceedings, the person had no reasonable cause to believe that his conduct was unlawful. The decision of the directors as
to whether the person acted honestly and in good faith and with a view to the best interests of the company and as to whether the person
had no reasonable cause to believe that his conduct was unlawful and is, in the absence of fraud, sufficient for the purposes of the memorandum
and articles of association, unless a question of law is involved. The termination of any proceedings by any judgment, order, settlement,
conviction or the entering of a nolle prosequi does not, by itself, create a presumption that the person did not act honestly and in good
faith and with a view to the best interests of the company or that the person had reasonable cause to believe that his conduct was unlawful.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">This
standard of conduct is generally the same as permitted under the Delaware General Corporation Law for a Delaware corporation. Insofar
as indemnification for liabilities arising under the Securities Act may be permitted to the Company&#8217;s directors, officers or persons
controlling the Company under the foregoing provisions, the Company has been advised that in the opinion of the SEC, such indemnification
is against public policy as expressed in the Securities Act and is therefore unenforceable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Anti-takeover provisions in the Company&#8217;s amended and
restated <span style="background-color: white">memorandum and articles of association</span></i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Some
provisions of the Company&#8217;s amended and restated articles of association may discourage, delay or prevent a change in control of
the Company or management that shareholders may consider favorable. Under the BVI Act there are no provisions which specifically prevent
the issuance of preferred shares or any such other &#8216;poison pill&#8217; measures. The amended and restated memorandum and articles
of association of the Company also does not contain any express prohibitions on the issuance of any preferred shares. Therefore, the directors
without the approval of the holders of Ordinary Shares may issue preferred shares that have characteristics that may be deemed to be anti-takeover.
Additionally, such a designation of shares may be used in connection with plans that are poison pill plans. However, under British Virgin
Islands law, the Company&#8217;s directors in the exercise of their powers granted to them under the Company&#8217;s amended and restated
memorandum and articles of association and performance of their duties, are required to act honestly and in good faith in what the director
believes to be in the best interests of the Company&#8217;s company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Directors&#8217; fiduciary duties</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
Delaware corporate law, a director of a Delaware corporation has a fiduciary duty to the corporation and its shareholders. This duty has
two components: the duty of care and the duty of loyalty. The duty of care requires that a director act in good faith, with the care that
an ordinarily prudent person would exercise under similar circumstances. Under this duty, a director must inform himself of, and disclose
to shareholders, all material information reasonably available regarding a significant transaction.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
duty of loyalty requires that a director act in a manner he reasonably believes to be in the best interests of the corporation. He must
not use his corporate position for personal gain or advantage. This duty prohibits self-dealing by a director and mandates that the best
interest of the corporation and its shareholders take precedence over any interest possessed by a director, officer or controlling shareholder
and not shared by the shareholders generally. In general, actions of a director are presumed to have been made on an informed basis, in
good faith and in the honest belief that the action taken was in the best interests of the corporation. However, this presumption may
be rebutted by evidence of a breach of one of the fiduciary duties. Should such evidence be presented concerning a transaction by a director,
a director must prove the procedural fairness of the transaction and that the transaction was of fair value to the corporation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
British Virgin Islands law, the Company&#8217;s directors owe fiduciary duties both at common law and under statute including, among others,
a statutory duty to act honestly, in good faith, for a proper purpose and with a view to what the directors believe to be in the best
interests of the company. The Company&#8217;s directors are also required, when exercising powers or performing duties as a director,
to exercise the care, diligence and skill that a reasonable director would exercise in comparable circumstances, taking into account without
limitation, the nature of the company, the nature of the decision and the position of the director and the nature of the responsibilities
undertaken. In the exercise of their powers, the Company&#8217;s directors must ensure neither they nor the company acts in a manner which
contravenes the BVI Act or the Company&#8217;s amended and restated memorandum and articles of association. A shareholder has the right
to seek damages for breaches of duties owed to the Company by the Company&#8217;s directors.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Pursuant
to the BVI Act and the Company&#8217;s amended and restated memorandum and articles of association, a director of a company who has an
interest in a transaction and who has declared such interest to the other directors, may:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(a)</td><td style="text-align: justify">vote on a matter relating to the transaction;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(b)</td><td style="text-align: justify">attend a meeting of directors at which a matter relating to
the transaction arises and be included among the directors present at the meeting for the purposes of a quorum; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(c)</td><td style="text-align: justify">sign a document on behalf of the Company, or do any other thing
in his capacity as a director, that relates to the transaction.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">In
certain limited circumstances, a shareholder has the right to seek various remedies against the company in the event the directors are
in breach of their duties under the BVI Act. Pursuant to Section 184B of the BVI Act, if a company or director of a company engages in,
or proposes to engage in or has engaged in, conduct that contravenes the provisions of the BVI Act or the memorandum or articles of association
of the company, the British Virgin Islands Court may, on application of a shareholder or director of the company, make an order directing
the company or director to comply with, or restraining the company or director from engaging in conduct that contravenes the BVI Act or
the memorandum or articles. Furthermore, pursuant to section 184I(1) of the BVI Act, a shareholder of a company who considers that the
affairs of the company have been, are being or are likely to be, conducted in a manner that is, or any acts of the company have been,
or are likely to be oppressive, unfairly discriminatory, or unfairly prejudicial to him in that capacity, may apply to the British Virgin
Islands Court for an order which, inter alia, can require the company or any other person to pay compensation to the shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Shareholder action by written consent</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Delaware General Corporation Law, a corporation may eliminate the right of shareholders to act by written consent by amendment to
its certificate of incorporation. British Virgin Islands law provides that, subject to the memorandum and articles of association of a
company, an action that may be taken by members of the company at a meeting may also be taken by a resolution of members consented to
in writing.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Shareholder proposals</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Delaware General Corporation Law, a shareholder has the right to put any proposal before the annual meeting of shareholders, provided
it complies with the notice provisions in the governing documents. A special meeting may be called by the board of directors or any other
person authorized to do so in the governing documents, but shareholders may be precluded from calling special meetings. British Virgin
Islands law and the Company&#8217;s amended and restated memorandum and articles of association allow the Company&#8217;s shareholders
holding 30% or more of the votes of the outstanding voting shares to requisition a shareholders&#8217; meeting. There is no requirement
under BVI law to hold shareholders&#8217; annual general meetings, but the Company&#8217;s amended and restated memorandum and articles
of association do permit the directors to call such a meeting. The location of any shareholders&#8217; meeting can be determined by the
board of directors and can be held anywhere in the world.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Cumulative voting</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Delaware General Corporation Law, cumulative voting for elections of directors is not permitted unless the corporation&#8217;s certificate
of incorporation specifically provides for it. Cumulative voting potentially facilitates the representation of minority shareholders on
a board of directors since it permits the minority shareholder to cast all the votes to which the shareholder is entitled on a single
director, which increases the shareholder&#8217;s voting power with respect to electing such director. As permitted under British Virgin
Islands law, the Company&#8217;s amended and restated memorandum and articles of association do not provide for cumulative voting. As
a result, the Company&#8217;s shareholders are not afforded any less protections or rights on this issue than shareholders of a Delaware
corporation.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Removal of directors</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Delaware General Corporation Law, a director of a corporation with a classified board may be removed only for cause with the approval
of a majority of the outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. Under the Company&#8217;s
amended and restated memorandum and articles of association, directors can be removed from office, with or without cause, by a resolution
of shareholders passed at a meeting of the shareholders called for the purposes of removing the director or for purposes including the
removal of the director or by a written resolution passed by at least 75 percent of the votes of the shareholders entitled to vote. Directors
can also be removed by a resolution of directors passed at a meeting of directors called for the purpose of removing the director or for
purposes including the removal of the director.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Transactions with interested shareholders</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Delaware General Corporation Law contains a business combination statute applicable to Delaware public corporations whereby, unless the
corporation has specifically elected not to be governed by such statute by amendment to its certificate of incorporation, it is prohibited
from engaging in certain business combinations with an &#8220;interested shareholder&#8221; for three years following the date that such
person becomes an interested shareholder. An interested shareholder generally is a person or group who or which owns or owned 15% or more
of the target&#8217;s outstanding voting shares within the past three years. This has the effect of limiting the ability of a potential
acquirer to make a two-tiered bid for the target in which all shareholders would not be treated equally. The statute does not apply if,
among other things, prior to the date on which such shareholder becomes an interested shareholder, the board of directors approves either
the business combination or the transaction which resulted in the person becoming an interested shareholder. This encourages any potential
acquirer of a Delaware public corporation to negotiate the terms of any acquisition transaction with the target&#8217;s board of directors.
British Virgin Islands law has no comparable statute and the Company&#8217;s amended and restated memorandum and articles of association
does not provide for the same protection afforded by the Delaware business combination statute.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Dissolution; Winding Up</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Delaware General Corporation Law, unless the board of directors approves the proposal to dissolve, dissolution must be approved by
shareholders holding 100% of the total voting power of the corporation. Only if the dissolution is initiated by the board of directors
may it be approved by a simple majority of the corporation&#8217;s outstanding shares. Delaware law allows a Delaware corporation to include
in its certificate of incorporation a supermajority voting requirement in connection with dissolutions initiated by the board. Under the
BVI Act and the Company&#8217;s amended and restated memorandum and articles of association, the Company may appoint a voluntary liquidator
by a resolution of the shareholders, provided that the directors have made a declaration of solvency that the company is able to discharge
its debts as they fall due and that the value of the company&#8217;s assets exceed its liabilities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Variation of rights of shares</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Delaware General Corporation Law, a corporation may vary the rights of a class of shares with the approval of a majority of the outstanding
shares of such class, unless the certificate of incorporation provides otherwise. Under the Company&#8217;s amended and restated memorandum
and articles of association, if at any time the Company&#8217;s shares are divided into different classes of shares, the rights attached
to any class may only be varied, whether or not the Company is in liquidation, with the consent in writing of or by a resolution passed
at a meeting by a majority of the votes cast by those entitled to vote at a meeting of the holders of the issued shares in that class.
For these purposes the creation, designation or issue of shares with rights and privileges ranking pari passu to an existing class of
shares is deemed not to be a variation of the rights of such existing class and may in accordance with the Company&#8217;s memorandum
and articles of association be effected by resolution of directors without shareholder approval.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Amendment of governing documents</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Delaware General Corporation Law, a corporation&#8217;s governing documents may be amended with the approval of a majority of the
outstanding shares entitled to vote, unless the certificate of incorporation provides otherwise. As permitted by British Virgin Islands
law, the Company&#8217;s amended and restated memorandum and articles of association may be amended by a resolution of shareholders and,
subject to certain exceptions, by a resolution of directors. An amendment is effective from the date it is registered at the Registry
of Corporate Affairs in the British Virgin Islands.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Anti-Money Laundering Laws</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b><i>&#160;</i></b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">In
order to comply with legislation or regulations aimed at the prevention of money laundering the Company is required to adopt and maintain
anti-money laundering procedures, and may require subscribers to provide evidence to verify their identity. Where permitted, and subject
to certain conditions, the Company also may delegate the maintenance of the Company&#8217;s anti-money laundering procedures (including
the acquisition of due diligence information) to a suitable person.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Company reserves the right to request such information as is necessary to verify the identity of a subscriber. In the event of delay or
failure on the part of the subscriber in producing any information required for verification purposes, the Company may refuse to accept
the application, in which case any funds received will be returned without interest to the account from which they were originally debited.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">If
any person resident in the British Virgin Islands knows or suspects that another person is engaged in money laundering or terrorist financing
and the information for that knowledge or suspicion came to their attention in the course of their business the person will be required
to report his belief or suspicion to the Financial Investigation Agency of the British Virgin Islands, pursuant to the Proceeds of Criminal
Conduct Act, Revision Edition 2020. Such a report shall not be treated as a breach of confidence or of any restriction upon the disclosure
of information imposed by any enactment or otherwise.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="a_019"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SHARES ELIGIBLE FOR FUTURE SALE</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Upon
completion of this offering, the Company will have 47,613,083 Ordinary Shares issued and outstanding. All of the Ordinary Shares sold
in this offering will be freely transferable by persons other than Raytech Holding&#8217;s &#8220;affiliates&#8221; without restriction
or further registration under the Securities Act. Future sales of substantial amounts of Raytech Holding&#8217;s Ordinary Shares in the
public market, or the possibility of these sales occurring, could cause the prevailing market price for Raytech Holding&#8217;s Ordinary
Shares to fall or impair Raytech Holding&#8217;s ability to raise equity capital in the future.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Lock-Up Agreements&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; background-color: white">See &#8220;<i>Plan
of Distribution&#8212;Lock-Up Agreements</i>.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rule 144</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">All
of Raytech Holding&#8217;s Ordinary Shares outstanding prior to this offering are &#8220;restricted securities&#8221; as that term is
defined in Rule 144 under the Securities Act and may be sold publicly in the United States only if they are subject to an effective registration
statement under the Securities Act or pursuant to an exemption from the registration requirement such as those provided by Rule 144 promulgated
under the Securities Act.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">In
general, under Rule 144 as currently in effect, beginning 90 days after the date of this prospectus, a person who is not deemed to have
been Raytech Holding&#8217;s affiliate at any time during the three months preceding a sale and who has beneficially owned restricted
securities within the meaning of Rule 144 for more than six months would be entitled to sell an unlimited number of those shares, subject
only to the availability of current public information about the Company. A non-affiliate who has beneficially owned restricted securities
for at least one year from the later of the date these shares were acquired from the Company or from Raytech Holding&#8217;s affiliate
would be entitled to freely sell those shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A
person who is deemed to be an affiliate of Raytech Holding and who has beneficially owned &#8220;restricted securities&#8221; for at least
six months would be entitled to sell, within any three-month period, a number of shares that is not more than the greater of:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">1% of the number of Ordinary Shares then outstanding, in the
form of Ordinary Shares or otherwise; or</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">the average weekly trading volume of the Ordinary Shares on
the Nasdaq Capital Market during the four calendar weeks preceding the filing of a notice on Form 144 with respect to such sale.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Sales
under Rule 144 by Raytech Holding&#8217;s affiliates or persons selling shares on behalf of Raytech Holding&#8217;s affiliates are also
subject to certain manner of sale provisions and notice requirements and to the availability of current public information about the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"><b>&#160;</b></p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Rule 701</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In general, under Rule 701
of the Securities Act as currently in effect, each of Raytech Holding&#8217;s employees, consultants, or advisors who purchases Raytech
Holding&#8217;s Ordinary Shares from the Company in connection with a compensatory stock plan or other written agreement executed prior
to the completion of this offering is eligible to resell those Ordinary Shares in reliance on Rule 144, but without compliance with some
of the restrictions, including the holding period, contained in Rule 144. However, the Rule 701 shares would remain subject to lock-up
arrangements and would only become eligible for sale when the lock-up period expires.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Regulation S</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Regulation S provides generally
that sales made in offshore transactions are not subject to the registration or prospectus-delivery requirements of the Securities Act.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->115<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="a_020"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">TAXATION</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Material U.S. Federal Income Tax Consequences Applicable to U.S.
Holders of Raytech Holding&#8217;s Ordinary Shares</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
following sets forth the material U.S. federal income tax consequences related to an investment in Raytech Holding&#8217;s Ordinary Shares.
It is directed to U.S. Holders (as defined below) of Raytech Holding&#8217;s Ordinary Shares and is based upon laws and relevant interpretations
thereof in effect as of the date of this prospectus, all of which are subject to change. This description does not deal with all possible
tax consequences relating to an investment in Raytech Holding&#8217;s Ordinary Shares or U.S. tax laws, other than the U.S. federal income
tax laws, such as the tax consequences under non U.S. tax laws, state, local and other tax laws.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
following brief description applies only to U.S. Holders (defined below) that hold Ordinary Shares as capital assets and that have the
U.S. dollar as their functional currency. This brief description is based on the federal income tax laws of the United States in effect
as of the date of this prospectus and on U.S. Treasury regulations in effect or, in some cases, proposed, as of the date of this prospectus,
as well as judicial and administrative interpretations thereof available on or before such date. All of the foregoing authorities are
subject to change, which change could apply retroactively and could affect the tax consequences described below.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
brief description below of the U.S. federal income tax consequences to &#8220;U.S. Holders&#8221; will apply to you if you are a beneficial
owner of Ordinary Shares and you are, for U.S. federal income tax purposes:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><i>&#160;</i></p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">an individual who is a citizen or resident of the United States;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">a corporation (or other entity taxable as a corporation for
U.S. federal income tax purposes) organized under the laws of the United States, any state thereof or the District of Columbia;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">an estate whose income is subject to U.S. federal income taxation
regardless of its source; or</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">a trust that (1) is subject to the primary supervision of
a court within the United States and the control of one or more U.S. persons for all substantial decisions or (2) has a valid election
in effect under applicable U.S. Treasury regulations to be treated as a U.S. person.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white">If
a partnership (or other entity treated as a partnership for United States federal income tax purposes) is a beneficial owner of Raytech
Holding&#8217;s Ordinary Shares, the tax treatment of a partner in the partnership will depend upon the status of the partner and the
activities of the partnership. Partnerships and partners of a partnership holding Raytech Holding&#8217;s Ordinary Shares are urged to
consult their tax advisors regarding an investment in Raytech Holding&#8217;s Ordinary Shares.</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">RAYTECH
HOLDING URGES POTENTIAL PURCHASERS OF RAYTECH HOLDING&#8217;S ORDINARY SHARES TO CONSULT THEIR OWN TAX ADVISORS CONCERNING THE U.S. FEDERAL,
STATE, LOCAL AND NON-U.S. TAX CONSEQUENCES OF PURCHASING, OWNING AND DISPOSING OF RAYTECH HOLDING&#8217;S ORDINARY SHARES.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
following does not address the tax consequences to any particular investor or to persons in special tax situations such as:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">banks;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">financial institutions;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">insurance companies;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->116<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">pension plans;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">cooperatives;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">regulated investment companies;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">real estate investment trusts;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">broker-dealers;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">traders that elect to use a mark-to-market method of accounting;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">U.S. expatriates;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">certain former U.S. citizens or long-term residents;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">tax-exempt entities (including private foundations);</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">persons liable for alternative minimum tax;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">persons holding Raytech Holding&#8217;s Ordinary Shares as
part of a straddle, hedging, conversion or integrated transaction;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">persons that actually or constructively own 10% (by vote or
value) or more of Raytech Holding&#8217;s voting shares (including by reason of owning Raytech Holding&#8217;s Ordinary Shares);</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">persons who acquired Raytech Holding&#8217;s Ordinary Shares
pursuant to the exercise of any employee share option or otherwise as compensation;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">persons holding Raytech Holding&#8217;s Ordinary Shares through
partnerships or other pass-through entities;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">events, hip-hop, and marketing industries investment trusts;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">governments or agencies or instrumentalities thereof;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">beneficiaries of a Trust holding Raytech Holding&#8217;s Ordinary
Shares; or</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">persons holding Raytech Holding&#8217;s Ordinary Shares through
a trust.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 2.5pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">All of whom may be subject to tax rules that differ
significantly from those discussed below.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
discussion set forth below is addressed only to U.S. Holders that purchase Ordinary Shares in this offering. Prospective purchasers are
urged to consult their own tax advisors about the application of the U.S. federal income tax rules to their particular circumstances as
well as the state, local, foreign and other tax consequences to them of the purchase, ownership and disposition of Raytech Holding&#8217;s
Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Dividends and Other Distributions on Raytech Holding&#8217;s
Ordinary Shares</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Subject
to the passive foreign investment company rules discussed below, the gross amount of distributions made by the Company to you with respect
to the Ordinary Shares (including the amount of any taxes withheld therefrom) will generally be includable in your gross income as dividend
income on the date of receipt by you, but only to the extent that the distribution is paid out of Raytech Holding&#8217;s current or accumulated
earnings and profits (as determined under U.S. federal income tax principles). With respect to corporate U.S. Holders, the dividends will
not be eligible for the dividends-received deduction allowed to corporations in respect of dividends received from other U.S. corporations.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">With
respect to non-corporate U.S. Holders, including individual U.S. Holders, dividends will be taxed at the lower capital gains rate applicable
to qualified dividend income, provided that (1) the Ordinary Shares are readily tradable on an established securities market in the United
States, or Raytech Holding is eligible for the benefits of an approved qualifying income tax treaty with the United States that includes
an exchange of information program, (2) Raytech Holding is not a PFIC for either Raytech Holding&#8217;s taxable year in which the dividend
is paid or the preceding taxable year, and (3) certain holding period requirements are met. Because there is no income tax treaty between
the United States and the BVI, clause (1) above can be satisfied only if the Ordinary Shares are readily tradable on an established securities
market in the United States. Under U.S. Internal Revenue Service authority, Ordinary Shares are considered for purpose of clause (1) above
to be readily tradable on an established securities market in the United States, provided they are listed on the Nasdaq Capital Market.
You are urged to consult your tax advisors regarding the availability of the lower rate for dividends paid with respect to Raytech Holding&#8217;s
Ordinary Shares, including the effects of any change in law after the date of this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Dividends
will constitute foreign source income for foreign tax credit limitation purposes. If the dividends are taxed as qualified dividend income
(as discussed above), the amount of the dividend taken into account for purposes of calculating the foreign tax credit limitation will
be limited to the gross amount of the dividend, multiplied by the reduced rate divided by the highest rate of tax normally applicable
to dividends. The limitation on foreign taxes eligible for credit is calculated separately with respect to specific classes of income.
For this purpose, dividends distributed by the Company with respect to Raytech Holding&#8217;s Ordinary Shares will constitute &#8220;passive
category income&#8221; but could, in the case of certain U.S. Holders, constitute &#8220;general category income.&#8221;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">To
the extent that the amount of the distribution exceeds Raytech Holding&#8217;s current and accumulated earnings and profits (as determined
under U.S. federal income tax principles), it will be treated first as a tax-free return of your tax basis in your Ordinary Shares, and
to the extent the amount of the distribution exceeds your tax basis, the excess will be taxed as capital gain. Raytech Holding does not
intend to calculate Raytech Holding&#8217;s earnings and profits under U.S. federal income tax principles. Therefore, a U.S. Holder should
expect that a distribution will be treated as a dividend even if that distribution would otherwise be treated as a non-taxable return
of capital or as capital gain under the rules described above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Taxation of Dispositions of Ordinary Shares</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Subject
to the passive foreign investment company rules discussed below, you will recognize taxable gain or loss on any sale, exchange or other
taxable disposition of a share equal to the difference between the amount realized (in U.S. dollars) for the share and your tax basis
(in U.S. dollars) in the Ordinary Shares. The gain or loss will be capital gain or loss. If you are a non-corporate U.S. Holder, including
an individual U.S. Holder, who has held the Ordinary Shares for more than one year, you will be eligible for reduced tax rates. The deductibility
of capital losses is subject to limitations. Any such gain or loss that you recognize will generally be treated as United States source
income or loss for foreign tax credit limitation purposes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Information Reporting and Backup Withholding</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Dividend
payments with respect to Raytech Holding&#8217;s Ordinary Shares and proceeds from the sale, exchange or redemption of Raytech Holding&#8217;s
Ordinary Shares may be subject to information reporting to the U.S. Internal Revenue Service and possible U.S. backup withholding at a
current rate of 24%. Backup withholding will not apply, however, to a U.S. Holder who furnishes a correct taxpayer identification number
and makes any other required certification on U.S. Internal Revenue Service Form W-9 or who is otherwise exempt from backup withholding.
U.S. Holders who are required to establish their exempt status generally must provide such certification on U.S. Internal Revenue Service
Form W-9. U.S. Holders are urged to consult their tax advisors regarding the application of the U.S. information reporting and backup
withholding rules.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Backup
withholding is not an additional tax. Amounts withheld as backup withholding may be credited against your U.S. federal income tax liability,
and you may obtain a refund of any excess amounts withheld under the backup withholding rules by filing the appropriate claim for refund
with the U.S. Internal Revenue Service and furnishing any required information. Raytech Holding does not intend to withhold taxes for
individual shareholders. However, transactions effected through certain brokers or other intermediaries may be subject to withholding
taxes (including backup withholding), and such brokers or intermediaries may be required by law to withhold such taxes.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Under
the Hiring Incentives to Restore Employment Act of 2010, certain U.S. Holders are required to report information relating to Raytech Holding&#8217;s
Ordinary Shares, subject to certain exceptions (including an exception for Ordinary Shares held in accounts maintained by certain financial
institutions), by attaching a complete Internal Revenue Service Form 8938, Statement of Specified Foreign Financial Assets, with their
tax return for each year in which they hold Ordinary Shares. Failure to report the information could result in substantial penalties.
You should consult your own tax advisor regarding your obligation to file Form 8938.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Passive Foreign Investment Company (&#8220;PFIC&#8221;)</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Based
on Raytech Holding&#8217;s operations and the composition of Raytech Holding&#8217;s assets, Raytech Holding was not a passive foreign
investment company, or PFIC, for U.S. federal income tax purposes for the taxable year ended March 31, 2024 and the taxable year ended
March 31, 2023. Depending on the amount of cash Raytech Holding raises in this offering, together with any other assets held for the production
of passive income, it is possible that, for Raytech Holding&#8217;s taxable year ending March 31, 2025 (Raytech Holding&#8217;s current
taxable year) or for any subsequent year, more than 50% of Raytech Holding&#8217;s assets may be assets which produce passive income,
in which case Raytech Holding would be deemed a PFIC, which could have adverse US federal income tax consequences for US taxpayers who
are shareholders. Raytech Holding will make this determination following the end of any particular tax year. PFIC status is a factual
determination for each taxable year which cannot be made until the close of the taxable year. A non-U.S. corporation is considered a PFIC,
as defined in Section 1297(a) of the US Internal Revenue Code, for any taxable year if either:&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">at least 75% of its gross income is passive income; or</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; border-spacing: 0px;" width="100%"><tr style="vertical-align: top">
<td style="width: 0.5in"/><td style="width: 0.25in">&#9679;</td><td style="text-align: justify">at least 50% of the value of its assets (based on an average of the quarterly values of the assets during
a taxable year) is attributable to assets that produce or are held for the production of passive income (the &#8220;asset test&#8221;).</td></tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Raytech
Holding will be treated as owning Raytech Holding&#8217;s proportionate share of the assets and earning Raytech Holding&#8217;s proportionate
share of income of any other corporation in which Raytech Holding owns, directly or indirectly, at least 25% (by value) of the stock.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Raytech Holding must make
a separate determination each year as to whether Raytech Holding is a PFIC, however, and there can be no assurance with respect to Raytech
Holding&#8217;s status as a PFIC for Raytech Holding&#8217;s current taxable year or any future taxable year. Depending on the amount
of cash Raytech Holding raises in this offering, together with any other assets held for the production of passive income, it is possible
that, for Raytech Holding&#8217;s current taxable year or for any subsequent taxable year, more than 50% of Raytech Holding&#8217;s assets
may be assets held for the production of passive income. Raytech Holding will make this determination following the end of any particular
tax year. In addition, because the value of Raytech Holding&#8217;s assets for purposes of the asset test will generally be determined
based on the market price of Raytech Holding&#8217;s Ordinary Shares and because cash is generally considered to be an asset held for
the production of passive income, Raytech Holding&#8217;s PFIC status will depend in large part on the market price of Raytech Holding&#8217;s
Ordinary Shares and the amount of cash Raytech Holding raises in this offering. Accordingly, fluctuations in the market price of the Ordinary
Shares may cause Raytech Holding to become a PFIC. In addition, the application of the PFIC rules is subject to uncertainty in several
respects and the composition of Raytech Holding&#8217;s income and assets will be affected by how, and how quickly, Raytech Holding spends
the cash Raytech Holding raises in this offering. Raytech Holding is under no obligation to take steps to reduce the risk of Raytech Holding&#8217;s
being classified as a PFIC, and as stated above, the determination of the value of Raytech Holding&#8217;s assets will depend upon material
facts (including the market price of Raytech Holding&#8217;s Ordinary Shares from time to time and the amount of cash Raytech Holding
raises in this offering) that may not be within Raytech Holding&#8217;s control. If Raytech Holding is a PFIC for any year during which
you hold Ordinary Shares, Raytech Holding will continue to be treated as a PFIC for all succeeding years during which you hold Ordinary
Shares. If Raytech Holding ceases to be a PFIC and you did not previously make a timely &#8220;mark-to-market&#8221; election as described
below, however, you may avoid some of the adverse effects of the PFIC regime by making a &#8220;purging election&#8221; (as described
below) with respect to the Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">If
Raytech Holding is a PFIC for any taxable year during which you hold Ordinary Shares, you will be subject to special tax rules with respect
to any &#8220;excess distribution&#8221; that you receive and any gain you realize from a sale or other disposition (including a pledge)
of the Ordinary Shares, unless you make a &#8220;mark-to-market&#8221; election as discussed below. Distributions you receive in a taxable
year that are greater than 125% of the average annual distributions you received during the shorter of the three preceding taxable years
or your holding period for the Ordinary Shares will be treated as an excess distribution. Under these special tax rules:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2.5pt">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">the excess distribution or gain will be allocated ratably
over your holding period for the Ordinary Shares;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">the amount allocated to the current taxable year, and any
taxable year prior to the first taxable year in which was were a PFIC, will be treated as ordinary income,</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">the amount allocated to each other year will be subject to
the highest tax rate in effect for that year and the interest charge generally applicable to underpayments of tax will be imposed on
the resulting tax attributable to each such year, and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">An additional tax equal to the interest charge generally applicable
to underpayments of tax will be imposed on the tax attributable to each prior taxable year, other than a pre-PFIC year.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 2.5pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
tax liability for amounts allocated to years prior to the year of disposition or &#8220;excess distribution&#8221; cannot be offset by
any net operating losses for such years, and gains (but not losses) realized on the sale of the Ordinary Shares cannot be treated as capital,
even if you hold the Ordinary Shares as capital assets.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A
U.S. Holder of &#8220;marketable stock&#8221; (as defined below) in a PFIC may make a mark-to-market election for such stock to elect
out of the tax treatment discussed above. If you make a mark-to-market election for the Ordinary Shares, you will include in income each
year an amount equal to the excess, if any, of the fair market value of the Ordinary Shares as of the close of your taxable year over
your adjusted basis in such Ordinary Shares. You are allowed a deduction for the excess, if any, of the adjusted basis of the Ordinary
Shares over their fair market value as of the close of the taxable year. However, deductions are allowable only to the extent of any net
mark-to-market gains on the Ordinary Shares included in your income for prior taxable years. Amounts included in your income under a mark-to-market
election, as well as gain on the actual sale or other disposition of the Ordinary Shares, are treated as ordinary income. Ordinary loss
treatment also applies to the deductible portion of any mark-to-market loss on the Ordinary Shares, as well as to any loss realized on
the actual sale or disposition of the Ordinary Shares, to the extent that the amount of such loss does not exceed the net mark-to-market
gains previously included for such Ordinary Shares. Your basis in the Ordinary Shares will be adjusted to reflect any such income or loss
amounts. If you make a valid mark-to-market election, the tax rules that apply to distributions by corporations which are not PFICs would
apply to distributions by Raytech Holding, except that the lower applicable capital gains rate for qualified dividend income discussed
above under &#8220;&#8212; Taxation of Dividends and Other Distributions on Raytech Holding&#8217;s Ordinary Shares&#8221; generally would
not apply.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
mark-to-market election is available only for &#8220;marketable stock&#8221;, which is stock that is traded in other than de minimis quantities
on at least 15 days during each calendar quarter (&#8220;regularly traded&#8221;) on a qualified exchange or other market (as defined
in applicable U.S. Treasury regulations), including the Nasdaq Capital Market. If the Ordinary Shares are regularly traded on the Nasdaq
Capital Market and if you are a holder of Ordinary Shares, the mark-to-market election would be available to you were Raytech Holding
to be or become a PFIC.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Alternatively,
a U.S. Holder of stock in a PFIC may make a &#8220;qualified electing fund&#8221; election with respect to such PFIC to elect out of the
tax treatment discussed above. A U.S. Holder who makes a valid qualified electing fund election with respect to a PFIC will generally
include in gross income for a taxable year such holder&#8217;s pro rata share of the corporation&#8217;s earnings and profits for the
taxable year. However, the qualified electing fund election is available only if such PFIC provides such U.S. Holder with certain information
regarding its earnings and profits as required under applicable U.S. Treasury regulations. Raytech Holding does not currently intend to
prepare or provide the information that would enable you to make a qualified electing fund election. Therefore, you should not expect
to be eligible to make this election.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If you do not make a timely
&#8220;mark-to-market&#8221; election (as described above), and if Raytech Holding was a PFIC at any time during the period you hold Raytech
Holding&#8217;s Ordinary Shares, then such Ordinary Shares will continue to be treated as stock of a PFIC with respect to you even if
Raytech Holding ceases to be a PFIC in a future year, unless you make a &#8220;purging election&#8221; for the year Raytech Holding ceases
to be a PFIC. A &#8220;purging election&#8221; creates a deemed sale of such Ordinary Shares at their fair market value on the last day
of the last year in which Raytech Holding is treated as a PFIC. The gain recognized by the purging election will be subject to the special
tax and interest charge rules treating the gain as an excess distribution, as described above. As a result of the purging election, you
will have a new basis (equal to the fair market value of the Ordinary Shares on the last day of the last year in which Raytech Holding
is treated as a PFIC) and holding period (which new holding period will begin the day after such last day) in your Ordinary Shares for
tax purposes. IRC Section 1014(a) provides for a step-up in basis to the fair market value for Raytech Holding&#8217;s Ordinary Shares
when inherited from a decedent that was previously a holder of Raytech Holding&#8217;s Ordinary Shares. However, if Raytech Holding is
determined to be a PFIC and a decedent that was a U.S. Holder did not make either a timely qualified electing fund election for Raytech
Holding&#8217;s first taxable year as a PFIC in which the U.S. Holder held (or was deemed to hold) Raytech Holding&#8217;s Ordinary Shares,
or a mark-to-market election and ownership of those Ordinary Shares are inherited, a special provision in IRC Section 1291(e) provides
that the new U.S. Holder&#8217;s basis should be reduced by an amount equal to the Section 1014 basis minus the decedent&#8217;s adjusted
basis just before death. As such if Raytech Holding is determined to be a PFIC at any time prior to a decedent&#8217;s passing, the PFIC
rules will cause any new U.S. Holder that inherits Raytech Holding&#8217;s Ordinary Shares from a U.S. Holder to not get a step-up in
basis under Section 1014 and instead will receive a carryover basis in those Ordinary Shares.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If you hold Ordinary Shares
in any year in which Raytech Holding is classified as a PFIC, you will be required to file IRS Form 8621 and to provide certain annual
information regarding such Ordinary Shares, including regarding distributions received on the Ordinary Shares and any gain realized on
the disposition of the Ordinary Shares. The failure to file IRS Form 8621 could result in the imposition of penalties and the extension
of the statute of limitations with respect to U.S. federal income tax.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">You
are urged to consult your tax advisors regarding the application of the PFIC rules to your investment in Raytech Holding&#8217;s Ordinary
Shares and the elections discussed above.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">Hong Kong Profits Taxation</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span style="background-color: white">Raytech Holding&#8217;s subsidiaries,
</span>Pure Beauty and Raytech Innovation, are Hong Kong entities subject to the two-tier profit tax rates system according to Hong Kong
tax rules and regulations<b>.</b>

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The two-tier profits tax rates
system was introduced under the Inland Revenue (Amendment)(No.3) Ordinance 2018 (the &#8220;Ordinance&#8221;) of Hong Kong became effective
for the assessment year 2018/2019. Under the two-tier profit tax rates regime, the profits tax rate for the first HKD 2 million (US$254,780)
of assessable profits of a corporation will be subject to the lowered tax rate, 8.25% while the remaining assessable profits will be subject
to the legacy tax rate, 16.5%. The Ordinance only allows one entity within a group of &#8220;connected entities&#8221; is eligible for
the two-tier tax rate benefit. An entity is a connected entity of another entity if (1) one of them has control over the other; (2) both
of them are under the control (more than 50% of the issued share capital) of the same entity; (3) in the case of the first entity being
a natural person carrying on a sole proprietorship business-the other entity is the same person carrying on another sole proprietorship
business. Under the Ordinance, it is an entity&#8217;s election to nominate an entity that will be subject to the two-tier profits tax
rate on its Profits Tax Return. The election is irrevocable.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Pure Beauty elected the two-tier
profits tax rate for its tax years of 2021/2022, 2022/2023 and 2023/24, and opted out the two-tier profits tax rate for its tax years
of 2024/25.<i>&#160;</i></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration:underline">British Virgin Islands Taxation</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The disclosure relating to
tax consequences under British Virgin Islands law is the opinion of Harney Westwood &amp; Riegels, Raytech Holding&#8217;s counsel as
to BVI law.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Government of the British Virgin Islands does not, under existing legislation, impose any income, corporate or capital gains tax, estate
duty, inheritance tax, gift tax or withholding tax upon the Company or its shareholders who are not tax resident in the British Virgin
Islands.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Company and all distributions, interest and other amounts paid by the Company to persons who are not tax resident in the British Virgin
Islands will not be subject to any income, withholding or capital gains taxes in the British Virgin Islands, with respect to the Ordinary
Shares in the Company owned by them and dividends received on such shares, nor will they be subject to any estate or inheritance taxes
in the British Virgin Islands.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">No
estate, inheritance, succession or gift tax, rate, duty, levy or other charge is payable by persons who are not tax resident in the British
Virgin Islands with respect to any shares, debt obligations or other securities of the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Except
to the extent that Raytech Holding has any interest in real property in the British Virgin Islands, all instruments relating to transactions
in respect of the shares, debt obligations or other securities of the Company and all instruments relating to other transactions relating
to the business of the Company are exempt from the payment of stamp duty in the British Virgin Islands.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">There
are currently no withholding taxes or exchange control regulations in the British Virgin Islands applicable to the Company or its shareholders.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 20pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">There
is no income tax treaty or convention currently in effect between the United States and the British Virgin Islands or between Hong Kong
and the British Virgin Islands.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">British Virgin Islands Economic Substance Legislation</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
British Virgin Islands, together with several other non-European Union jurisdictions, has introduced legislation aimed at addressing concerns
raised by the Council of the European Union (the &#8220;EU&#8221;) as to offshore structures engaged in certain activities which attract
profits without real economic activity. With effect from January 1, 2019, the Economic Substance (Companies and Limited Partnerships)
Act, 2018 (the &#8220;ES Act&#8221;) came into force in the British Virgin Islands introducing certain economic substance requirements
for in-scope British Virgin Islands entities which are engaged in certain &#8220;relevant activities&#8221;.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Although
it is presently anticipated that the ES Act will have little material impact on the Company or its operations, as the legislation is relatively
new and remains subject to further clarification and interpretation, it is not currently possible to ascertain the precise impact of these
legislative changes on the Company.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in"></p><div>

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</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">British Virgin Islands Data Protection Act</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Data Protection Act, 2021 (the &#8220;<b>BVI DPA</b>&#8221;) came into force in the British Virgin Islands on 9 July 2021. The BVI DPA
establishes a framework of rights and duties designed to safeguard individuals&#8217; personal data, balanced against the need of public
authorities, businesses and organizations to collect and use personal data for lawful purposes. The BVI DPA is centered around seven data
protection principles (the General Principle, the Notice and Choice Principle, the Disclosure Principle, the Security Principle, the Retention
Principle, the Data Protection Principle and the Access Principle) which require that:</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">personal data must not be processed without consent unless
specific conditions are met and must not be transferred outside the British Virgin Islands, unless there is proof of adequate data protection
safeguards or consent from the data subject;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">Where consent has been given to processing of personal data,
the data subject may at any time withdraw his or her consent;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">a data controller must inform a data subject of specific matters,
for instance the purposes for which it is being collected and further processed;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">personal data must not be disclosed for any purpose other
than the purpose for which it was to be disclosed at the time of collection or a purpose directly related thereto or to any party other
than a third party of a class previously notified to the data subject;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">a data controller shall, when processing personal data, take
practical steps to protect personal data from loss, misuse, modification, unauthorized or accidental access or disclosure, alteration
or destruction;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">personal data must not be kept for longer than is necessary
for the purpose;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">personal data must be accurate, complete, not misleading and
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</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">a data subject must be given access to his or her own personal
data and be able to correct that data where it is inaccurate, incomplete, misleading or not up to date, except where a request for such
access or correction is refused under the BVI DPA.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
BVI DPA imposes specific obligations on data controllers, including the duty to (i) apply the data protection principles; and (ii) respond
in a timely fashion to requests from data subjects in relation to their personal data.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
Information Commissioner is the regulator responsible for the proper functioning and enforcement of the BVI DPA. Offences under the BVI
DPA include</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">processing sensitive personal data in contravention of the
BVI DPA;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">willfully obstructing the Information Commissioner or an authorized
officer in the conduct of his or her duties and functions;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">&#9679;</td><td style="text-align: justify">willfully disclosing personal information in contravention
of the BVI DPA; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify; text-indent: -0.25in">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left"><span style="font-size: 10pt">&#9679;</span></td><td style="text-align: justify"><span style="font-size: 10pt">collecting, storing or disposing
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</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Offences
committed under the BVI DPA may result in fines (up to US$500,000 in certain cases) or imprisonment. Further, a data subject who suffers
damage or distress as a result of their data being processed in contravention of the DPA may institute civil proceedings in the British
Virgin Islands courts.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.25in">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="a_021"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">PLAN OF DISTRIBUTION</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Fees, Commissions and Expense Reimbursement</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Upon
the closing of this offering, we will pay the placement agent a commission of 7.0% of the aggregate gross proceeds raised in this offering,
or 6.0% for company-directed or company-introduced investors. We have also agreed to (i)&#160;reimburse the placement agent for accountable
expenses, up to a maximum of $150,000, in accordance with FINRA Rule 5110(g)(5)(A); and (ii)&#160;provide a non-accountable expense allowance
equal to 1% of the gross proceeds of this offering. In the event this offering does not close, we have agreed to reimburse the placement
agent accountable expenses up to an aggregate of $50,000.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
following table shows the public offering price, placement agent fees, other fees, and proceeds, before expenses, to us, assuming all
investors are introduced to us by the placement agent.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">If
all of the Ordinary Shares offered by us are not sold at the public offering price, the placement agent may change the offering price
and other selling terms by means of a supplement to this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 76%; text-indent: -10pt; padding-left: 10pt">Public offering price</td><td style="width: 1%">&#160;</td>
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    <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">[&#9679;]</td>
    <td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">$</td><td style="text-align: right">[&#9679;]</td>
    <td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><div>



</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 24pt; text-align: justify; text-indent: -24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
foregoing does not purport to be a complete statement of the terms and conditions of the Placement agency agreement. A form of the Placement
agency agreement is included as an exhibit to the registration statement of which this prospectus forms a part.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Lock-Up&#160;Agreements</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
will agree in the Placement agency agreement that, without the prior written consent of the placement agent, we and any of our successors
will not, for a period of ninety (90) days from the closing of this offering, (i)&#160;offer, pledge, announce the intention to sell,
sell, contract to sell, sell any option or contract to purchase, purchase any option or contract to sell, grant any option, right or warrant
to purchase or otherwise transfer or dispose of, directly or indirectly, or file with the SEC any registration statement relating to,
any shares of capital stock of the Company or any securities convertible into or exercisable or exchangeable for shares of capital stock
of the Company; (ii)&#160;complete any offering of debt securities of the Company, other than entering into a line of credit with a traditional
bank, or (iv)&#160;enter into any swap or other arrangement that transfers to another, in whole or in part, any of the economic consequences
of ownership of capital stock of the Company, whether any such transaction described in clause (i), (ii), or (iii)&#160;above is to be
settled by delivery of shares of capital stock of the Company or such other securities, in cash or otherwise.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">In addition, our directors and officers shall enter into customary
&#8220;lock-up&#8221; agreements in favor of the placement agent pursuant to which such persons and/or entities agree, for a period of
twenty (20) days from the date of the consummation of the Offering, that they shall neither offer, issue, sell, contract to sell, encumber,
or otherwise dispose of any securities of the Company without the placement agent&#8217;s prior written consent.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>Regulation&#160;M</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The placement agent may be deemed to be an underwriter within the meaning
of Section&#160;2(a)(11)&#160;of the Securities Act, and any commissions received by it and any profit realized on the resale of the securities
sold by it while acting as principal might be deemed to be underwriting discounts or commissions under the Securities Act. As an underwriter,
the placement agent would be required to comply with the requirements of the Securities Act and the Exchange&#160;Act, including, without
limitation, Rule&#160;10b-5 and Regulation&#160;M under the Exchange&#160;Act. These rules and regulations may limit the timing of purchases
and sales of our securities by the placement agent acting as principal. Under these rules and regulations, the placement agent (i)&#160;may
not engage in any stabilization activity in connection with our securities and (ii)&#160;may not bid for or purchase any of our securities
or attempt to induce any person to purchase any of our securities, other than as permitted under the Exchange&#160;Act, until it has completed
its participation in the distribution.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 132; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->124<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Determination of Offering Price</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The actual offering price of the Ordinary Shares will be negotiated
between us, the placement agent, and the prospective investors in the offering based on the trading of our ordinary shares prior to the
offering, among other things. Other factors considered in determining the public offering price of the Ordinary Shares we are offering,
include our history and prospects, the stage of development of our business, our business plans for the future and the extent to which
they have been implemented, an assessment of our management, the general conditions of the securities markets at the time of the offering
and such other factors as were deemed relevant.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Electronic Offer, Sale and Distribution of
Securities</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">A prospectus in electronic format may be delivered to potential investors
by the placement agent. The prospectus in electronic format will be identical to the paper version of such prospectus. Other than the
prospectus in electronic format, the information on the placement agent&#8217;s websites and any information contained in any other website
maintained by the placement agent is not part of the prospectus or the registration statement of which this prospectus forms a part.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Relationships</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
placement agent and its respective affiliates are full service financial institutions engaged in various activities, which may include
the sales and trading of securities, commercial and investment banking, advisory, investment management, investment research, principal
investment, hedging, market making, financing, brokerage and other financial and non-financial&#160;activities and services. The placement
agent and their respective affiliates may have, from time to time, performed, and may in the future perform, a variety of such activities
and services for us and for persons or entities with relationships with us for which they received or will receive customary fees, commissions
and expenses.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">In the ordinary course of their various business activities, the placement
agent and its respective affiliates, directors, officers and employees may at any time purchase, sell or hold a broad array of investments,
and actively traded securities, derivatives, loans, commodities, currencies, credit default swaps and other financial instruments for
their own accounts and for the accounts of their customers. Such investment and trading activities may involve or relate to our assets,
securities and/or instruments (directly, as collateral securing other obligations or otherwise) and/or persons and entities with relationships
with us. The placement agent and its respective affiliates may also communicate independent investment recommendations, market color or
trading ideas and/or publish or express independent research views in respect of such assets, securities or instruments. In addition,
the placement agent and its respective affiliates may at any time hold, or recommend to clients that they should acquire, long and short
positions in such assets, securities and instruments.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Selling Restrictions</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">No action has been taken in
any jurisdiction (except in the United&#160;States) that would permit a public offering of the Ordinary Shares, or the possession, circulation
or distribution of this prospectus or any other material relating to us or the Ordinary Shares, where action for that purpose is required.
Accordingly, the Ordinary Shares may not be offered or sold, directly or indirectly, and neither this prospectus nor any other offering
material or advertisements in connection with the Ordinary Shares may be distributed or published, in or from any country or jurisdiction
except in compliance with any applicable rules and regulations of any such country or jurisdiction.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Indemnification</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We have agreed to indemnify the placement agent against liabilities
relating to the offering arising under the Securities Act and the Exchange&#160;Act and to contribute to payments that the placement agent
may be required to make for these liabilities. In the opinion of the Securities and Exchange Commission, we have been advised that indemnification
of liabilities under the Securities Act is against public policy as expressed in the Securities Act, and is therefore unenforceable.</p><div>
</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="v_001"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXPENSES RELATING TO THIS OFFERING</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Set forth below is an itemization of the total expenses, excluding
placement agent fees and accountable and non-accountable expenses reimbursable to the placement agent, that Raytech Holding expects to
incur in connection with this offering. Except for the SEC registration fee and the Financial Industry Regulatory Authority Inc. filing
fee, all amounts are estimates.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

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    <td style="width: 1%; text-align: left">$</td><td style="width: 7%; text-align: right">7532.52</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Financial Industry Regulatory Authority Inc. Filing Fee</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">2,000</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Legal Fees and Expenses</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">137,087</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Printing and Engraving Expenses</td><td>&#160;</td>
    <td style="text-align: left">$</td><td style="text-align: right">7500</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">$</td><td style="border-bottom: Black 1.5pt solid; text-align: right">20,000</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 4pt">Total Expenses</td><td style="padding-bottom: 4pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">178,471.4</td><td style="padding-bottom: 4pt; text-align: left">&#160;</td></tr>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">These
expenses will be borne by Raytech Holding.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><div><a id="a_022"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">LEGAL MATTERS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The validity of the Ordinary Shares offered in this offering and certain
other legal matters as to BVI law are passed upon for Raytech Holding by Harney Westwood &amp; Riegels, Raytech Holding&#8217;s counsel
as to BVI law. The legal matters as to United States Federal and New York State law are passed upon for Raytech Holding by Loeb &amp;
Loeb LLP. The placement agent is being represented by Zarif Law Group P.C. with respect to legal matters of United States federal and
New York State law. Legal matters as to Hong Kong laws are passed upon for Raytech Holding by CLKW Lawyers LLP. Legal matters as to the
laws of mainland China are passed upon for Raytech Holding by AllBright Law Offices (Fuzhou).</p><div>
</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><div><a id="a_023"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">EXPERTS</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
consolidated financial statements for the years ended March 31, 2023 and 2024 included in this prospectus have been so included in reliance
on the report of WWC, P.C., an independent registered public accounting firm, given on the authority of said firm as experts in auditing
and accounting. The office of WWC, P.C. is located at 2010 Pioneer Court, San Mateo, CA 94403.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><div><a id="a_024"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">INTERESTS OF NAMED EXPERTS AND COUNSEL</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">No
expert or counsel named in this prospectus as having prepared or certified any part of this prospectus or having given an opinion upon
the validity of the securities being registered or upon other legal matters in connection with the registration or offering of the Ordinary
Shares was employed on a contingency basis, or had, or is to receive, in connection with the offering, a substantial interest, direct
or indirect, in the registrant. Nor was any such person connected with the registrant as a promoter, managing or principal placement agent/placement
agent, voting trustee, director, officer, or employee.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><div><a id="a_025"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">DISCLOSURE OF COMMISSION POSITION ON INDEMNIFICATION</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Insofar
as indemnification for liabilities arising under the Securities Act, may be permitted to Raytech Holding&#8217;s directors, officers or
persons controlling Raytech Holding, Raytech Holding has been advised that it is the SEC&#8217;s opinion that such indemnification is
against public policy as expressed in such act and is, therefore, unenforceable.</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><div><a id="a_026"></a></div><p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">WHERE YOU CAN FIND ADDITIONAL INFORMATION</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Raytech
Holding has filed with the SEC a registration statement on Form F-1, including relevant exhibits and schedules under the Securities Act,
covering the Ordinary Shares offered by this prospectus. You should refer to Raytech Holding&#8217;s registration statements and their
exhibits and schedules if you would like to find out more about Raytech Holding and about the Ordinary Shares. This prospectus summarizes
material provisions of contracts and other documents that Raytech Holding refers you to. Since the prospectus may not contain all the
information that you may find important, you should review the full text of these documents.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Raytech
Holding is subject to periodic reporting and other informational requirements of the Exchange Act, as applicable to foreign private issuers.
Accordingly, Raytech Holding is required to file reports, including annual reports on Form 20-F, and other information with the SEC. As
a foreign private issuer, Raytech Holding is exempt from the rules of the Exchange Act prescribing the furnishing and content of proxy
statements to shareholders under the federal proxy rules contained in Sections 14(a), (b) and (c) of the Exchange Act, and Raytech Holding&#8217;s
executive officers, directors and principal shareholders are exempt from the reporting and short-swing profit recovery provisions contained
in Section 16 of the Exchange Act.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
SEC maintains a website that contains reports, proxy statements and other information about issuers, such as Raytech Holding, who file
electronically with the SEC. The address of that website is <i>http://www.sec.gov</i>. The information on that website is not a part of
this prospectus.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">No
dealers, salesperson or other person is authorized to give any information or to represent anything not contained in this prospectus.
You must not rely on any unauthorized information or representations. This prospectus is an offer to sell only the securities offered
hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in this prospectus is
current only as of its date.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>


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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->127<!-- Field: /Sequence --></p></div><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><div><a id="a_027"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CONSOLIDATED FINANCIAL STATEMENTS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
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    <td style="padding-bottom: 1.5pt; width: 1%; text-align: center">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; vertical-align: bottom; width: 9%; text-align: center"><b>Page(s)</b></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#f_001">Unaudited Interim Condensed Consolidated Balance Sheets as of March 31, 2024 and September 30, 2024</a></td>
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    <td style="vertical-align: bottom; text-align: center">F-2</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#f_002">Unaudited Interim Condensed Consolidated Statements of Income for the Six Months Ended September 30, 2023 and 2024</a></td>
    <td style="text-align: center">&#160;</td>
    <td style="vertical-align: bottom; text-align: center">F-3</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#f_003">Unaudited Interim Condensed Consolidated Statements of Changes in Shareholders&#8217; Equity for the Six Months Ended September 30, 2023 and 2024</a></td>
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    <td style="vertical-align: bottom; text-align: center">F-4</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#f_004">Unaudited Interim Condensed Consolidated Statements of Cash Flows for the Six Months Ended September 30, 2023 and 2024</a></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
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    <td style="padding-bottom: 1.5pt; width: 1%; text-align: center">&#160;</td>
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  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#f_005">Report of Independent Registered Public Accounting Firm (PCAOB ID No. 1171)</a></td>
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    <td style="text-align: center">F-6</td></tr>
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    <td style="text-align: center">&#160;</td>
    <td style="text-align: center">F-7</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
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    <td style="text-align: center">&#160;</td>
    <td style="text-align: center">F-8</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#f_008">Consolidated Statements of Changes in Shareholders&#8217; Equity for the Years Ended March 31, 2022, 2023 and 2024</a></td>
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    <td style="text-align: center">F-9</td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#f_009">Consolidated Statements of Cash Flows for the Years Ended March 31, 2022, 2023 and 2024</a></td>
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    <td style="text-align: center">F-10</td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in"><a href="#f_010">Notes to Consolidated Financial Statements</a></td>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><div><a id="f_001"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNAUDITED INTERIM CONDENSED CONSOLIDATED BALANCE SHEETS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:OtherReceivables" scale="0" unitRef="hkd" id="ixv-21973">145,166</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-1">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-2">&#8211;</div></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:PrepaidExpenseCurrent" scale="0" unitRef="hkd" id="ixv-21980">5,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:PrepaidExpenseCurrent" scale="0" unitRef="hkd" id="ixv-21981">5,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:PrepaidExpenseCurrent" scale="0" unitRef="usd" id="ixv-21982">644</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.375in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">TOTAL CURRENT ASSETS</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsCurrent" scale="0" unitRef="hkd" id="ixv-21984">95,767,496</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsCurrent" scale="0" unitRef="usd" id="ixv-21985">12,326,399</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">NON-CURRENT ASSETS</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Property and equipment, net</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-3">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-4">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-5">&#8211;</div></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Deferred initial public offering costs</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:DeferredCosts" scale="0" unitRef="hkd" id="ixv-21986">5,252,768</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-6">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-7">&#8211;</div></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt">Long-term deposits</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:DepositsAssetsNoncurrent" scale="0" unitRef="hkd" id="ixv-21987">16,200</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:DepositsAssetsNoncurrent" scale="0" unitRef="hkd" id="ixv-21988">16,200</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:DepositsAssetsNoncurrent" scale="0" unitRef="usd" id="ixv-21989">2,085</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.375in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">TOTAL NON-CURRENT ASSETS</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsNoncurrent" scale="0" unitRef="hkd" id="ixv-21990">5,268,968</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsNoncurrent" scale="0" unitRef="hkd" id="ixv-21991">16,200</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsNoncurrent" scale="0" unitRef="usd" id="ixv-21992">2,085</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:Assets" scale="0" unitRef="hkd" id="ixv-21993">58,113,014</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:Assets" scale="0" unitRef="hkd" id="ixv-21994">95,783,696</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:Assets" scale="0" unitRef="usd" id="ixv-21995">12,328,484</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">CURRENT LIABILITIES</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Accounts payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccountsPayableCurrent" scale="0" unitRef="hkd" id="ixv-21996">732,340</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccountsPayableCurrent" scale="0" unitRef="hkd" id="ixv-21997">1,098,929</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c3" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccountsPayableCurrent" scale="0" unitRef="usd" id="ixv-21998">141,445</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Accounts payable - related party</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c4" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:OtherLiabilitiesCurrent" scale="0" unitRef="hkd" id="ixv-21999">24,278,340</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:OtherLiabilitiesCurrent" scale="0" unitRef="hkd" id="ixv-22000">20,418,181</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c5" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:OtherLiabilitiesCurrent" scale="0" unitRef="usd" id="ixv-22001">2,628,059</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements.&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><div><a id="f_002"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED<br/>
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF INCOME</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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For the Six Months ended<br/>
September 30,</b></p></td><td style="padding-bottom: 1.5pt">&#160;</td></tr>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-26">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" scale="0" sign="-" unitRef="hkd" id="ixv-22061">407,242</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ForeignCurrencyTransactionGainLossBeforeTax" scale="0" sign="-" unitRef="usd" id="ixv-22062">52,417</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NonoperatingIncomeExpense" scale="0" unitRef="hkd" id="ixv-22064">1,024,232</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">INCOME BEFORE INCOME TAX PROVISION</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">NET INCOME</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetIncomeLoss" scale="0" unitRef="usd" id="ixv-22074">598,771</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><div><a id="f_003"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED<br/>
UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS&#8217; EQUITY</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-33">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="text-align: left; width: 24px"><sup>(1)</sup></td> <td style="text-align: justify"><ix:footnote id="ix_2_footnote" xml:lang="en-US">1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.</ix:footnote></td></tr> </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>


</div><!-- Field: Page; Sequence: 139; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><div><a id="f_004"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>UNAUDITED INTERIM CONDENSED CONSOLIDATED STATEMENTS
OF CASH FLOWS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccruedLiabilities" scale="0" sign="-" unitRef="hkd" id="ixv-22143">97,717</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Contract liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c12" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInContractWithCustomerLiability" scale="0" sign="-" unitRef="hkd" id="ixv-22145">1,705,854</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Operating lease obligation</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c12" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInOperatingLeaseLiability" scale="0" sign="-" unitRef="hkd" id="ixv-22148">52,344</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-52">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-53">&#8211;</div></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Taxes receivables</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8211;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInIncomeTaxesReceivable" scale="0" sign="-" unitRef="hkd" id="ixv-22149">290,920</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c12" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccruedIncomeTaxesPayable" scale="0" unitRef="hkd" id="ixv-22151">1,139,449</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-54">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-55">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Net cash provided by operating activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" scale="0" unitRef="hkd" id="ixv-22153">2,621,059</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInOperatingActivities" scale="0" unitRef="usd" id="ixv-22154">337,361</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Cash flows from investing activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt">Repayment of amount due from a director</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c12" decimals="0" format="ixt:num-dot-decimal" name="ray:RepaymentOfAmountDueFromADirector" scale="0" sign="-" unitRef="hkd" id="ixv-22155">210,702</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="ray:RepaymentOfAmountDueFromADirector" scale="0" sign="-" unitRef="hkd" id="ixv-22156">145,166</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="ray:RepaymentOfAmountDueFromADirector" scale="0" sign="-" unitRef="usd" id="ixv-22157">18,684</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Net cash provided by investing activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" scale="0" unitRef="hkd" id="ixv-22159">145,166</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" scale="0" unitRef="usd" id="ixv-22160">18,684</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Cash flows from financing activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Proceed from Initial Public Offering of shares</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-56">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ProceedsFromIssuanceOfCommonStock" scale="0" unitRef="hkd" id="ixv-22161">42,772,241</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ProceedsFromIssuanceOfCommonStock" scale="0" unitRef="usd" id="ixv-22162">5,505,289</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt">Deferred initial public offering cost</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c12" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:PaymentsForRepurchaseOfInitialPublicOffering" scale="0" unitRef="hkd" id="ixv-22163">257,702</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-57">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-58">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Net cash (used in)/from financing activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c12" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" scale="0" sign="-" unitRef="hkd" id="ixv-22164">257,702</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" scale="0" unitRef="hkd" id="ixv-22165">42,772,241</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" scale="0" unitRef="usd" id="ixv-22166">5,505,289</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Change in cash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c12" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" scale="0" unitRef="hkd" id="ixv-22167">16,365,961</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" scale="0" unitRef="hkd" id="ixv-22168">45,538,466</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" scale="0" unitRef="usd" id="ixv-22169">5,861,334</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Effect of foreign exchange on cash</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" sign="-" unitRef="hkd" id="ixv-22171">377,030</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c0" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" sign="-" unitRef="usd" id="ixv-22172">48,528</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">Cash at the beginning of the period</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" unitRef="hkd" id="ixv-22173">21,362,580</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" unitRef="hkd" id="ixv-22174">35,885,666</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" unitRef="usd" id="ixv-22175">4,618,906</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these unaudited interim condensed consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

</div><!-- Field: Page; Sequence: 140; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><img alt="" src="image_003.jpg"/></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><div><a id="f_005"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>REPORT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING
FIRM</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 24px">To:</td>
    <td>The Board of Directors and Shareholders of Raytech Holding Limited</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Opinion on the Financial Statements</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
have audited the accompanying consolidated balance sheets of Raytech Holding Limited and its subsidiary (collectively the &#8220;Company&#8221;)
as of March&#160;31, 2023 and 2024, and the related consolidated statements of income, changes in shareholders&#8217; equity, and cash
flows for each of the&#160;years in the three-year period ended March&#160;31, 2024, and the related notes (collectively referred to as
the &#8220;consolidated financial statements&#8221;). In our opinion, the consolidated financial statements present fairly, in all material
respects, the financial position of the Company as of March&#160;31, 2023 and 2024, and the results of its operations and its cash flows
for each of the years in the three-year period ended&#160;March&#160;31, 2024, in conformity with accounting principles generally accepted
in the United&#160;States of America.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Basis for Opinion</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">These
consolidated financial statements are the responsibility of the Company&#8217;s management. Our responsibility is to express an opinion
on the Company&#8217;s consolidated financial statements based on our audits. We are a public accounting firm registered with the Public
Company Accounting Oversight Board (United&#160;States) (PCAOB) and are required to be independent with respect to the Company in accordance
with the U.S.&#160;federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the
PCAOB.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">We
conducted our audits in accordance with the standards of the PCAOB.&#160;Those standards require that we plan and perform the audit to
obtain reasonable assurance about whether the consolidated financial statements are free of material misstatement, whether due to error
or fraud. The Company is not required to have, nor were we engaged to perform, an audit of its internal control over financial reporting.
As part of our audits, we are required to obtain an understanding of internal control over financial reporting, but not for the purpose
of expressing an opinion on the effectiveness of our internal control over financial reporting. Accordingly, we express no such opinion.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Our
audits included performing procedures to assess the risks of material misstatement of the consolidated financial statements, whether due
to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence
regarding the amounts and disclosures in the consolidated financial statements. Our audits also included evaluating the accounting principles
used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements.
We believe that our audits provide a reasonable basis for our opinion.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="text-align: justify; width: 40%">/s/ WWC, P.C.</td>
    <td style="width: 60%">&#160;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">WWC, P.C.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">Certified Public Accountants</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">PCAOB ID No. 1171</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">We have served as the Company&#8217;s auditor
since 2022.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">San Mateo, California</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">July 30, 2024</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><div><a id="f_006"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED<br/>
CONSOLIDATED BALANCE SHEETS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom">
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    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-align: left">Accounts receivable, net</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:DepositsAssetsNoncurrent" scale="0" unitRef="hkd" id="ixv-22205">16,200</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:DepositsAssetsNoncurrent" scale="0" unitRef="usd" id="ixv-22206">2,070</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsNoncurrent" scale="0" unitRef="hkd" id="ixv-22208">5,268,968</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AssetsNoncurrent" scale="0" unitRef="usd" id="ixv-22209">673,273</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">TOTAL ASSETS</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:Assets" scale="0" unitRef="hkd" id="ixv-22211">58,113,014</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:Assets" scale="0" unitRef="usd" id="ixv-22212">7,425,729</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-align: left">Accounts payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccountsPayableCurrent" scale="0" unitRef="hkd" id="ixv-22213">735,528</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccountsPayableCurrent" scale="0" unitRef="hkd" id="ixv-22214">732,340</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccountsPayableCurrent" scale="0" unitRef="usd" id="ixv-22215">93,579</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c7" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:OtherLiabilitiesCurrent" scale="0" unitRef="hkd" id="ixv-22216">8,768,420</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c4" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:OtherLiabilitiesCurrent" scale="0" unitRef="hkd" id="ixv-22217">24,278,340</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c4" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:OtherLiabilitiesCurrent" scale="0" unitRef="usd" id="ixv-22218">3,102,306</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in">Accruals</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccruedLiabilitiesCurrent" scale="0" unitRef="hkd" id="ixv-22219">616,078</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccruedLiabilitiesCurrent" scale="0" unitRef="hkd" id="ixv-22220">1,018,618</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccruedLiabilitiesCurrent" scale="0" unitRef="usd" id="ixv-22221">130,160</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.125in; text-align: left">Contract liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiabilityCurrent" scale="0" unitRef="hkd" id="ixv-22222">1,705,854</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiabilityCurrent" scale="0" unitRef="hkd" id="ixv-22223">1,008,415</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiabilityCurrent" scale="0" unitRef="usd" id="ixv-22224">128,856</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt">Operating lease obligation, current portion</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:OperatingLeaseLiabilityCurrent" scale="0" unitRef="hkd" id="ixv-22225">87,972</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-18">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-19">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding-left: 0.25in; font-weight: bold; text-align: left; padding-bottom: 1.5pt">TOTAL CURRENT LIABILITIES</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:LiabilitiesCurrent" scale="0" unitRef="hkd" id="ixv-22227">27,037,713</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:LiabilitiesCurrent" scale="0" unitRef="usd" id="ixv-22228">3,454,901</ix:nonFraction></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td>&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left">OTHER LIABILITIES</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="text-align: left; width: 24px"><sup>(1)</sup></td>
    <td style="text-align: justify">Giving retroactive effect to the 160,000-for-1 share split effected on May 10, 2023.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><div><a id="f_007"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED<br/>
CONSOLIDATED STATEMENTS OF INCOME</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:InterestExpenseNonoperating" scale="0" unitRef="hkd" id="ixv-22286">1,676</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-29">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-30">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-32">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in">EARNINGS PER SHARE</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 24px"><sup>(1)</sup></td>
    <td style="text-align: justify">Giving retroactive effect to the 160,000-for-1 share split effected on May 10, 2023.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><div><a id="f_008"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED<br/>
CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS&#8217; EQUITY</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 24px"><sup>(1)</sup></td>
    <td style="text-align: justify">Giving retroactive effect to the 160,000-for-1 share split effected on May 10, 2023.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
these consolidated financial statements.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><div><a id="f_009"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED </b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>CONSOLIDATED STATEMENTS OF CASH FLOWS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left">Changes in operating assets and liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left">Accounts receivable, net</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsReceivable" scale="0" unitRef="hkd" id="ixv-22379">4,060,535</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left">Merchandise inventories, net</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-65">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInInventories" scale="0" unitRef="hkd" id="ixv-22384">1,855,686</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.375in">Prepayments</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left">Long-term deposits</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInDepositOtherAssets" scale="0" unitRef="hkd" id="ixv-22390">17,200</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInDepositOtherAssets" scale="0" unitRef="hkd" id="ixv-22391">5,200</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInDepositOtherAssets" scale="0" sign="-" unitRef="usd" id="ixv-22393">2,300</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left">Accounts payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsPayableTrade" scale="0" unitRef="hkd" id="ixv-22394">130,100</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsPayableTrade" scale="0" sign="-" unitRef="hkd" id="ixv-22395">119,019</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsPayableTrade" scale="0" sign="-" unitRef="hkd" id="ixv-22396">5,441</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsPayableTrade" scale="0" sign="-" unitRef="usd" id="ixv-22397">695</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left">Accounts payable - related party</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties" scale="0" unitRef="hkd" id="ixv-22398">1,035,048</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties" scale="0" unitRef="hkd" id="ixv-22399">4,682,655</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties" scale="0" unitRef="hkd" id="ixv-22400">15,554,384</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccountsPayableRelatedParties" scale="0" unitRef="usd" id="ixv-22401">1,987,552</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.375in">Accruals</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-66">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccruedLiabilities" scale="0" unitRef="hkd" id="ixv-22402">566,078</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccruedLiabilities" scale="0" unitRef="hkd" id="ixv-22403">402,540</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInAccruedLiabilities" scale="0" unitRef="usd" id="ixv-22404">51,437</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left">Contract liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-67">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInContractWithCustomerLiability" scale="0" unitRef="hkd" id="ixv-22405">1,705,854</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInContractWithCustomerLiability" scale="0" sign="-" unitRef="hkd" id="ixv-22406">697,439</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInContractWithCustomerLiability" scale="0" sign="-" unitRef="usd" id="ixv-22407">89,119</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left">Operating lease obligation</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInOperatingLeaseLiability" scale="0" sign="-" unitRef="hkd" id="ixv-22408">16,324</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInOperatingLeaseLiability" scale="0" sign="-" unitRef="hkd" id="ixv-22409">100,849</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInOperatingLeaseLiability" scale="0" sign="-" unitRef="hkd" id="ixv-22410">87,972</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncreaseDecreaseInOperatingLeaseLiability" scale="0" sign="-" unitRef="usd" id="ixv-22411">11,241</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt">Taxes payables</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; font-weight: bold; text-align: left">Cash flows from investing activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-70">&#8211;</div></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="ray:RepaymentOfAmountDueFromADirector" scale="0" sign="-" unitRef="hkd" id="ixv-22423">846,860</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt">Net cash provided by investing activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInInvestingActivities" scale="0" unitRef="hkd" id="ixv-22427">846,860</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.25in; font-weight: bold; text-align: left">Cash flows from financing activities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left">Deferred initial public offering cost</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-71">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.375in; text-align: left; padding-bottom: 1.5pt">Dividend payments</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:PaymentsOfDividends" scale="0" unitRef="hkd" id="ixv-22432">1,558,000</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-72">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-73">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-74">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt">Net cash used in financing activities</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" scale="0" sign="-" unitRef="hkd" id="ixv-22434">3,176,871</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" scale="0" sign="-" unitRef="hkd" id="ixv-22435">2,075,897</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:NetCashProvidedByUsedInFinancingActivities" scale="0" sign="-" unitRef="usd" id="ixv-22436">265,260</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Change in cash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" scale="0" unitRef="hkd" id="ixv-22437">8,874,972</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" scale="0" unitRef="hkd" id="ixv-22438">9,229,833</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" scale="0" unitRef="hkd" id="ixv-22439">14,519,242</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" scale="0" unitRef="usd" id="ixv-22440">1,855,281</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left">Effect of foreign exchange on cash</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><div style="-sec-ix-hidden: hidden-fact-75">&#8211;</div></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" sign="-" unitRef="hkd" id="ixv-22441">157,725</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c44" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" unitRef="hkd" id="ixv-22444">3,415,500</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c51" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" unitRef="hkd" id="ixv-22445">12,290,472</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" unitRef="hkd" id="ixv-22446">21,362,580</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" scale="0" unitRef="usd" id="ixv-22447">2,729,728</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">The accompanying notes are an integral part of
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><div><a id="f_010"></a></div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>RAYTECH HOLDING LIMITED<br/>
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c21" escape="true" name="us-gaap:NatureOfOperations" id="ixv-18447"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 &#8212; NATURE OF BUSINESS AND ORGANIZATION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Raytech Holding Limited
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(&#8220;BVI&#8221;) law. The Company has no substantial operations other than holding all of the outstanding share capital of Pure Beauty
Manufacturing Company Limited (&#8220;Pure Beauty&#8221;), a Hong Kong Company incorporated on April 15, 2013. The Company, through Pure
Beauty, is engaged in the sourcing and wholesaling of personal care and lifestyle electrical appliances for international brand owners
as our customers. The Company&#8217;s headquarter is located in Hong Kong, China. All of the Company&#8217;s business activities are carried
out by Pure Beauty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">In August 2022 completed
a reorganization of Pure Beauty under common control of its then existing shareholders, who collectively owned all of the equity interests
of Raytech prior to the reorganization. Raytech and Pure Beauty are under common control which results in the consolidation of Pure Beauty
at carrying value. The consolidated financial statements are prepared on the basis as if the reorganization became effective as of the
beginning of the first period presented in the accompanying consolidated financial statements of Raytech.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>&#160;</i></b></p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock-c21_cont_1" escape="true" name="us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock" id="ixv-18512"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Basis of presentation</span></p></ix:nonNumeric>

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<ix:continuation id="_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated financial statements
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and applicable rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;).</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_ConsolidationPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:ConsolidationPolicyTextBlock" id="ixv-18519"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Principles of consolidation</span></p></ix:nonNumeric>

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<ix:continuation id="_ConsolidationPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported
amounts of revenues and expenses during the periods presented. Significant estimates required to be made by management include, but are
not limited to, the valuation of accounts receivable, useful lives of property and equipment, the recoverability of long-lived assets
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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economy. Since mid-2022, the U.S. Federal Reserve has addressed elevated inflation by increasing interest rates, as inflation remains
elevated. Given current market conditions, the Company may be unable to access the capital markets, and additional capital may only be
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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31, 2024 are solely for the convenience of the reader and were calculated at the noon buying rate of US$<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ForeignCurrencyTransactionGainBeforeTax" scale="0" unitRef="usd" id="ixv-22460">1</ix:nonFraction> = HKD7.8259, as published in
H.10 statistical release of the United&#160;States Federal Reserve Board.</span> No representation is made that the HKD amounts could have been,
or could be, converted, realized or settled into US$ at such rate or at any other rate.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ray_ConvenienceTranslationPolicyTextBlock-c21_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the consolidated financial statements of the
Company, transactions in currencies other than the functional currency are measured and recorded in the functional currency using the
exchange rate in effect at the date of the transaction. At the balance sheet date, monetary assets and liabilities that are denominated
in currencies other than the functional currency are translated into the functional currency using the exchange rate at the balance sheet
date. All gains and losses arising from foreign currency transactions are recorded in the consolidated statements of income during the
year in which they occur.&#160;</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_CashAndCashEquivalentsPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock" id="ixv-18588"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Cash and cash equivalents</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_CashAndCashEquivalentsPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents mainly represents cash
at bank and demand deposits which have original maturities less than three months and are unrestricted as to withdrawal or use. As of
March&#160;31, 2023 and 2024, the Company had HKD21,<span style="-sec-ix-hidden: hidden-fact-90">362,580</span> and HKD35,<span style="-sec-ix-hidden: hidden-fact-91">885,666</span> (US$<ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CashAndCashEquivalentsAtCarryingValue" scale="0" unitRef="usd" id="ixv-22461">4,585,500</ix:nonFraction>) in cash and cash equivalents, respectively.
The Company maintains its bank accounts in Hong Kong.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_TradeAndOtherAccountsReceivablePolicy-c21_cont_1" escape="true" name="us-gaap:TradeAndOtherAccountsReceivablePolicy" id="ixv-18597"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Accounts receivable, net </span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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at the original invoiced amount less an allowance for any potential uncollectible amounts.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_SignificantAccountingPoliciesTextBlock-c21_cont_3" id="_SignificantAccountingPoliciesTextBlock-c21_cont_2"><ix:continuation continuedAt="_TradeAndOtherAccountsReceivablePolicy-c21_cont_3" id="_TradeAndOtherAccountsReceivablePolicy-c21_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company make estimates of expected credit
and collectability trends for the allowance for credit losses and allowance for unbilled receivables based upon our assessment of various
factors, including historical experience, the age of the accounts receivable balances, credit quality of our customers, current economic
conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect our ability to collect
from customers. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated
statements of income. Actual amounts received may differ from management&#8217;s estimate of credit worthiness and the economic environment.
Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood
of collection is not probable.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_TradeAndOtherAccountsReceivablePolicy-c21_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provision for doubtful accounts was <span style="-sec-ix-hidden: hidden-fact-94">nil</span> and <span style="-sec-ix-hidden: hidden-fact-95">nil</span>
as of March 31, 2023 and 2024, respectively.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_InventoryPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:InventoryPolicyTextBlock" id="ixv-18627"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Merchandise inventories, net</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_InventoryPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Merchandise inventories are stated at the lower
of cost or net realizable value, on a weighted average basis. Costs include mainly the cost of merchandise inventories. Any excess of
the cost over the net realizable value of each item of merchandise inventories is recognized as a provision for diminution in the value
of merchandise inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to sell
products. The Company periodically evaluates merchandise inventories for their net realizable value adjustments and reduces the carrying
value of those merchandise inventories that are obsolete or in excess of the forecasted usage to their estimated net realizable value
based on various factors including aging and expiration dates, as applicable, taking into consideration historical and expected future
product sales. For the years ended March 31, 2023 and 2024, no merchandise inventory reserve was recorded because no slow-moving, obsolete,
or damaged merchandise inventory was identified.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="ray_PrepaymentsPolicyTextBlock-c21_cont_1" escape="true" name="ray:PrepaymentsPolicyTextBlock" id="ixv-18634"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Prepayments</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ray_PrepaymentsPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prepayments primarily consists of prepaid expenses.
These amounts are refundable and bear no interest. Management reviews its prepayments on a regular basis to determine if the allowance
is adequate and adjusts the allowance when necessary. As of March&#160;31, 2023 and 2024, no allowance was deemed necessary.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="ray_DeferredInitialPublicOfferingCostsPolicyTextBlock-c21_cont_1" escape="true" name="ray:DeferredInitialPublicOfferingCostsPolicyTextBlock" id="ixv-18641"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Deferred initial public offering (&#8220;IPO&#8221;)
costs</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ray_DeferredInitialPublicOfferingCostsPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to ASC 340-10-S99-1, IPO costs directly
attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction
of additional paid-in capital. These costs include legal fees related to the registration drafting and counsel, consulting fees related
to the registration preparation, the SEC filing and print related costs. During the year ended March 31, 2024, the Company recorded a
charge of <span style="-sec-ix-hidden: hidden-fact-82">HKD2,075,897</span> related to the IPO. As of March 31, 2023 and 2024, the accumulated deferred IPO costs were <span style="-sec-ix-hidden: hidden-fact-83">HKD3,176,871</span> and HKD5,<span style="-sec-ix-hidden: hidden-fact-92">252,768</span>
(US$<ix:nonFraction contextRef="c63" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:DeferredOfferingCosts" scale="0" unitRef="usd" id="ixv-22462">671,203</ix:nonFraction>), respectively.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="ray_LongTermDepositsPolicyTextBlock-c21_cont_1" escape="true" name="ray:LongTermDepositsPolicyTextBlock" id="ixv-18651"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Long-term deposits</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ray_LongTermDepositsPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Long-term deposits are mainly for rent, utilities
and money deposited with certain manufacturers. These amounts are refundable and bear no interest. The long-term deposits are refunded
from manufacturers when the terms and conditions set forth in the agreements have been satisfied.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 148; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">F-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->13<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_SignificantAccountingPoliciesTextBlock-c21_cont_4" id="_SignificantAccountingPoliciesTextBlock-c21_cont_3"><ix:nonNumeric contextRef="c21" continuedAt="_PropertyPlantAndEquipmentPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:PropertyPlantAndEquipmentPolicyTextBlock" id="ixv-18673"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Property and equipment, net </span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_PropertyPlantAndEquipmentPolicyTextBlock-c21_cont_2" id="_PropertyPlantAndEquipmentPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are stated at cost less
accumulated depreciation and impairment if applicable. Depreciation is computed using the straight-line method after consideration of
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<ix:continuation id="_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock-c21_cont_1"><ix:continuation continuedAt="_PropertyPlantAndEquipmentPolicyTextBlock-c21_cont_3" id="_PropertyPlantAndEquipmentPolicyTextBlock-c21_cont_2"><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; vertical-align: top">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Useful Life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 70%; text-align: left">Office equipment</td><td style="width: 1%">&#160;</td> <td style="vertical-align: top; width: 29%; text-align: center"><ix:nonNumeric contextRef="c83" format="ixt-sec:duryear" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="ixv-22464">2</ix:nonNumeric> years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left">Office furniture and fixtures</td><td>&#160;</td> <td style="vertical-align: top; text-align: center"><ix:nonNumeric contextRef="c84" format="ixt-sec:duryear" name="us-gaap:PropertyPlantAndEquipmentUsefulLife" id="ixv-22465">2</ix:nonNumeric> years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Leasehold improvements</td><td>&#160;</td> <td style="vertical-align: top; text-align: center"><ix:nonNumeric contextRef="c85" name="ray:PropertyPlantAndEquipmentsEstimatedUsefulLives" id="ixv-22466">lesser of lease term or expected useful life</ix:nonNumeric></td></tr> </table></ix:continuation></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p>

<ix:continuation id="_PropertyPlantAndEquipmentPolicyTextBlock-c21_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost and related accumulated depreciation
of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the statements of operations.
Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterment, which are expected
to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent
events and circumstances warrant revised estimates of useful lives.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" id="ixv-18705"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Impairment for long-lived assets</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<ix:continuation id="_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Long-lived assets, including property and equipment
and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant
adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not
be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected
to generate and recognizes an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset
plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified,
the Company will reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when
available and appropriate, to comparable market values. As of March 31, 2023 and 2024, <span style="-sec-ix-hidden: hidden-fact-96"><span style="-sec-ix-hidden: hidden-fact-97">no</span></span> impairment of long-lived assets was recognized.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:FairValueMeasurementPolicyPolicyTextBlock" id="ixv-18714"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Fair value measurement</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_2" id="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accounting standard regarding fair value of
financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial
instruments held by the Company.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_3" id="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accounting standards define fair value, establish
a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures.
The three levels are defined as follow:</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_4" id="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_3"><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_5" id="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_4"><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
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    <td style="text-align: justify">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</td></tr>
  </table></ix:continuation>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_6" id="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_5"><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_FairValueMeasurementPolicyPolicyTextBlock-c21_cont_6"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments included in current assets
and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of
the short period of time between the origination of such instruments and their expected realization and their current market rates of
interest.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_LesseeLeasesPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:LesseeLeasesPolicyTextBlock" id="ixv-18748"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Leases</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_LesseeLeasesPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines if an arrangement is a
lease at inception. Operating leases are included in operating lease right-of-use (&#8220;ROU&#8221;) assets, operating lease liability,
and operating lease liability, non-current in the Company&#8217;s consolidated balance sheets. ROU assets represent the Company&#8217;s
right to use an underlying asset for the lease term and lease liabilities represent the Company&#8217;s obligation to make lease payments
arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease
payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is
reasonably certain that it will exercise that option, if any. As the Company&#8217;s leases do not provide an implicit rate, the Company
used an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
The Company has elected to adopt the following lease policies in conjunction with the adoption of ASU 2016-02: (i) for leases that have
lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Company elected not
to apply ASC 842 recognition requirements; and (ii) the Company elected to apply the package of practical expedients for existing arrangements
entered into prior to April 1, 2020 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied
to existing leases, and(c) initial direct costs.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 149; Value: 1 --><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:continuation continuedAt="_SignificantAccountingPoliciesTextBlock-c21_cont_5" id="_SignificantAccountingPoliciesTextBlock-c21_cont_4"><ix:nonNumeric contextRef="c21" continuedAt="ray_ContractBalancesPolicyTextBlock-c21_cont_1" escape="true" name="ray:ContractBalancesPolicyTextBlock" id="ixv-18770"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Contract Balances</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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the timing of invoicing to customers. For certain services, customers are required to pay before the services are delivered. The Company
recognizes a contract asset or a contract liability in the consolidated balance sheets, depending on the relationship between the Company&#8217;s
performance and the customer&#8217;s payment.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ray_ContractBalancesPolicyTextBlock-c21_cont_3" id="ray_ContractBalancesPolicyTextBlock-c21_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company classifies its right to consideration
in exchange for services transferred to a customer as either a receivable or a contract asset. A receivable is a right to consideration
that is unconditional as compared to a contract asset which is a right to consideration that is conditional upon factors other than the
passage of time. The Company recognizes accounts receivable in its consolidated balance sheets when it performs a service in advance of
receiving consideration and if it has the unconditional right to receive consideration. The Company did not have any capitalized contract
costs as of March 31, 2023 and 2024.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ray_ContractBalancesPolicyTextBlock-c21_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contract liabilities are recognized if the Company
receives consideration in advance of performance, which is mainly in relation to emerging and other services. The Company expects to recognize
a significant majority of this balance as revenue over the next 12 months, and the remainder thereafter. As of March 31, 2023 and 2024,
the contract liabilities of the Company amounted to <span style="-sec-ix-hidden: hidden-fact-84">HKD1,705,854</span> and HKD1,<span style="-sec-ix-hidden: hidden-fact-93">008,415</span> (US$<ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiabilityCurrent" scale="0" unitRef="usd" id="ixv-22467">128,856</ix:nonFraction>), respectively.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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using the five-step model defined by ASC Topic 606 requires the Company to (1) identify its contracts with customers, (2) identify its
performance obligations under those contracts, (3) determine the transaction prices of those contracts, (4) allocate the transaction prices
to its performance obligations in those contracts and (5) recognize revenue when each performance obligation under those contracts is
satisfied. Revenue is recognized when promised goods or services are transferred to the customer in an amount that reflects the consideration
expected in exchange for those goods or services.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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of promised goods or services is transferred to the Company&#8217;s customers in an amount of consideration to which an entity expects
to be entitled to in exchange for those goods or services. Control is the ability to direct the use of and obtain substantially all of
the remaining benefits from the specified goods and services.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_RevenueRecognitionPolicyTextBlock-c21_cont_4" id="_RevenueRecognitionPolicyTextBlock-c21_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company currently generates its revenue through
sourcing and wholesaling of Japanese beauty products, as well as personal care products and other products, through distribution network
to Japan market. Currently, the Company sells its products through sourcing and wholesale customers. The Company sells goods under Free
On Board (&#8220;FOB&#8221;) shipping point term, and revenue is recognized when product is loaded on the ships and control is deemed
as transferred. Typical payment terms set forth in the invoice are within <ix:nonNumeric contextRef="c64" format="ixt-sec:durday" name="ray:InvoiceTerm" id="ixv-22468">30</ix:nonNumeric> to <ix:nonNumeric contextRef="c65" format="ixt-sec:durday" name="ray:InvoiceTerm" id="ixv-22469">120</ix:nonNumeric> days.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_RevenueRecognitionPolicyTextBlock-c21_cont_5" id="_RevenueRecognitionPolicyTextBlock-c21_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tooling revenue is earned from manufacturing multiple
tools, molds and assembly equipment as part of a tooling program for a customer. Given that the Company is providing a significant service
of producing highly interdependent component parts of the tooling program, each component does not generate standalone values. It must
be a completed mold so the customer can benefit from the purchase. Based on the arrangement with the customer, the Company recognizes
revenue at a point in time. In such cases, the Company recognizes revenue at the evidence transfer of control.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_RevenueRecognitionPolicyTextBlock-c21_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is the principal for the majority
of its transactions and recognizes revenue on a gross basis. The Company is the principal when it has control of the merchandise before
it is transferred to customers, which generally is established when the Company is primarily responsible for merchandising decisions,
maintains the relationship with customer, and has pricing discretion.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><ix:continuation continuedAt="_SignificantAccountingPoliciesTextBlock-c21_cont_6" id="_SignificantAccountingPoliciesTextBlock-c21_cont_5"><ix:nonNumeric contextRef="c21" continuedAt="ray_MerchandiseCostsPolicyTextBlock-c21_cont_1" escape="true" name="ray:MerchandiseCostsPolicyTextBlock" id="ixv-18820"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Merchandise costs</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ray_MerchandiseCostsPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of sales of beauty products, personal care
products and other products, which are directly related to revenue-generating transactions, primarily consist of cost of purchasing of
products.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_SellingGeneralAndAdministrativeExpensesPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:SellingGeneralAndAdministrativeExpensesPolicyTextBlock" id="ixv-18827"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Selling, general and administrative expenses</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_SellingGeneralAndAdministrativeExpensesPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Selling, general and administrative expenses consist
primarily of motor vehicle running expenses, travelling and entertainment and general administrative expenses such as of staff costs,
rental expenses, depreciation, legal and professional fees and other miscellaneous administrative expenses.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="ray_EmployeeBenefitsPolicyTextBlock-c21_cont_1" escape="true" name="ray:EmployeeBenefitsPolicyTextBlock" id="ixv-18834"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Employee Benefit</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ray_EmployeeBenefitsPolicyTextBlock-c21_cont_2" id="ray_EmployeeBenefitsPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hong Kong Employment Ordinance (&#8220;The Ordinance&#8221;)
requires an employee employed under a continuous employment contract is entitled to sickness allowance if (1) the sick leave taken is
not less than four consecutive days; (2) the sick leave take is supported by an appropriate medical certificate; and (3) the employee
has accumulated sufficient number of paid sickness days. The daily rate of sickness allowance is a sum equivalent to four-fifths of the
average daily wages earned by an employee in the 12-month period preceding the first sickness day.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ray_EmployeeBenefitsPolicyTextBlock-c21_cont_3" id="ray_EmployeeBenefitsPolicyTextBlock-c21_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Ordinance also requires an employee is entitled
to 12 statutory holidays regardless of his or her length of services. Holiday pay should be paid to the employee whose continuous employment
contract is not less than three months immediately preceding a statutory holiday is entitled to the holiday pay.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="ray_EmployeeBenefitsPolicyTextBlock-c21_cont_4" id="ray_EmployeeBenefitsPolicyTextBlock-c21_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An employee is entitled to a paid annual leave
after having been employed under a continuous employment contract for every 12 months. An employee&#8217;s paid annual leave increases
progressively from 7 days to a maximum of 14 days in accordance with his or her length of employment.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ray_EmployeeBenefitsPolicyTextBlock-c21_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under Hong Kong Mandatory Provident Fund Schemes
Ordinance, an employer shall enroll their regular employees in Mandatory Provident Fund Schemes. Regular employees are those who are at
between 18 and 65 years of age and have been employed for consecutive 60 days or more. An employer is required to make regular mandatory
contributions of at least <ix:nonFraction contextRef="c21" decimals="2" format="ixt:num-dot-decimal" name="us-gaap:DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" scale="-2" unitRef="pure" id="ixv-22470">5</ix:nonFraction>% of the employee&#8217;s monthly income between <span style="-sec-ix-hidden: hidden-fact-88">HKD7,000</span> and <span style="-sec-ix-hidden: hidden-fact-85">HKD30,000</span> and <span style="-sec-ix-hidden: hidden-fact-89">HKD1,500</span> of the employee&#8217;s
monthly income over <span style="-sec-ix-hidden: hidden-fact-86"><span style="-sec-ix-hidden: hidden-fact-87">HKD30,000</span></span>.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_IncomeTaxPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:IncomeTaxPolicyTextBlock" id="ixv-18855"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Income taxes</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_IncomeTaxPolicyTextBlock-c21_cont_2" id="_IncomeTaxPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Raytech is not subject to tax on income or capital
gains under the current laws of the British Virgin Islands. In addition, upon payments of dividends by Raytech and the Company&#8217;s
subsidiary in Hong&#160;Kong, Pure Beauty to the Company&#8217;s shareholders, no British Virgin Islands withholding tax will be imposed.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_IncomeTaxPolicyTextBlock-c21_cont_3" id="_IncomeTaxPolicyTextBlock-c21_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pure Beauty is incorporated in and carry trade
and business in Hong&#160;Kong and is subject to Hong&#160;Kong profits tax under Inland Revenue Department Ordinance.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_IncomeTaxPolicyTextBlock-c21_cont_4" id="_IncomeTaxPolicyTextBlock-c21_cont_3"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The charge for taxation is based on actual results
for the year as adjusted for items that are non-assessable&#160;or disallowed; and it is calculated using tax rates that have been enacted
or substantively enacted by the balance sheet date. The Group is not currently subject to tax in the British Virgin Islands.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_IncomeTaxPolicyTextBlock-c21_cont_5" id="_IncomeTaxPolicyTextBlock-c21_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred income taxes are recognized when temporary
differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the&#160;years in which
those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to
reduce deferred tax assets to the amount expected to be realized.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

<ix:continuation id="_IncomeTaxPolicyTextBlock-c21_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An uncertain tax position is recognized as a benefit
only if it is &#8220;more likely than not&#8221; that the tax position would be sustained in a tax examination. The amount recognized
is the largest amount of tax benefit that is greater than <ix:nonFraction contextRef="c21" decimals="2" format="ixt:num-dot-decimal" name="us-gaap:EffectiveIncomeTaxRateContinuingOperations" scale="-2" unitRef="pure" id="ixv-22471">50</ix:nonFraction>% likely of being realized on examination. For tax positions not meeting the
&#8220;more likely than not&#8221; test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income
tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been
incurred during the&#160;years ended March&#160;31, 2022, 2023 and 2024.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p><div>

</div><ix:continuation continuedAt="_SignificantAccountingPoliciesTextBlock-c21_cont_7" id="_SignificantAccountingPoliciesTextBlock-c21_cont_6"><ix:nonNumeric contextRef="c21" continuedAt="ray_RelatedPartiesPolicyTextBlock-c21_cont_1" escape="true" name="ray:RelatedPartiesPolicyTextBlock" id="ixv-18889"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Related parties</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="ray_RelatedPartiesPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject
to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_CommitmentsAndContingenciesPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:CommitmentsAndContingenciesPolicyTextBlock" id="ixv-18896"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Commitments and Contingencies</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_CommitmentsAndContingenciesPolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the normal course of business, the Company
is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters,
such as government investigations and tax matters. The Company recognizes a liability for such a contingency if it determines it is probable
that a loss has occurred, and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments
including historical and the specific facts and circumstances of each matter.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_EarningsPerSharePolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:EarningsPerSharePolicyTextBlock" id="ixv-18903"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Earnings per share</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation id="_EarningsPerSharePolicyTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company computes earnings per share (&#8220;EPS&#8221;)
in accordance with ASC&#160;260, &#8220;Earnings per Share&#8221;. ASC&#160;260 requires companies to present basic and diluted EPS.&#160;Basic
EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive
effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been
converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive
effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.&#160;For
the&#160;years ended March&#160;31, 2022, 2023 and 2024, there were no dilutive shares.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_ConcentrationRiskCreditRisk-c21_cont_1" escape="true" name="us-gaap:ConcentrationRiskCreditRisk" id="ixv-18910"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="text-decoration:underline">Concentration of Risks</span></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<ix:continuation continuedAt="_ConcentrationRiskCreditRisk-c21_cont_2" id="_ConcentrationRiskCreditRisk-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Concentration of credit
risk</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

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the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company places its cash with financial
institutions with high credit ratings and quality.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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receivable from the service customers. To reduce credit risk, the Company performs ongoing credit evaluations of the financial condition
of these service customers. The Company establishes a provision for doubtful accounts based upon estimates, factors surrounding the credit
risk of specific service customers and other information.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_ConcentrationRiskCreditRisk-c21_cont_5" id="_ConcentrationRiskCreditRisk-c21_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Concentration of customers</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_ConcentrationRiskCreditRisk-c21_cont_6" id="_ConcentrationRiskCreditRisk-c21_cont_5"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2022 and 2023, one major customer,
who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for <ix:nonFraction contextRef="c66" decimals="3" format="ixt:num-dot-decimal" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" unitRef="pure" id="ixv-22472">96.8</ix:nonFraction>% and <ix:nonFraction contextRef="c67" decimals="3" format="ixt:num-dot-decimal" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" unitRef="pure" id="ixv-22473">99.6</ix:nonFraction>% of the
Company&#8217;s total accounts receivable respectively. As of March 31, 2024, two customers, who are distributors represent and sell brands
of well-known manufactures from Japan, the U.S., UK, Europe and Australia accounted for <ix:nonFraction contextRef="c68" decimals="3" format="ixt:num-dot-decimal" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" unitRef="pure" id="ixv-22474">72.1</ix:nonFraction>% and <ix:nonFraction contextRef="c69" decimals="3" format="ixt:num-dot-decimal" name="us-gaap:ConcentrationRiskPercentage1" scale="-2" unitRef="pure" id="ixv-22475">27.9</ix:nonFraction>% of the Company&#8217;s total accounts
receivable respectively.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

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standards for reporting information about operating segments on a basis consistent with the Company&#8217;s internal organizational structure
as well as information about geographical areas, business segments and major customers in consolidated financial statements for detailing
the Company&#8217;s business segments. Based on the criteria established by ASC 280, the Company&#8217;s chief operating decision maker
(&#8220;CODM&#8221;) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about
allocating resources and assessing performance of the Company. As a whole and hence, the Company has only <ix:nonFraction contextRef="c21" decimals="0" format="ixt-sec:numwordsen" name="us-gaap:NumberOfReportableSegments" scale="0" unitRef="pure" id="ixv-22490">one</ix:nonFraction> reportable segment. The
Company does not distinguish between markets or segments for the purpose of internal reporting. As the Company&#8217;s long-lived assets
are substantially located in Hong Kong, no geographical segments are presented.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:nonNumeric contextRef="c21" continuedAt="_NewAccountingPronouncementsPolicyPolicyTextBlock-c21_cont_1" escape="true" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock" id="ixv-18962"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Recently issued accounting pronouncements</b></p></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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of all accounting standards updates (&#8220;ASUs&#8221;). Management periodically reviews new accounting standards that are issued. Under
the Jumpstart Our Business Startups Act of 2012, as amended (the &#8220;JOBS Act&#8221;), the Company meets the definition of an emerging
growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays
the adoption of these accounting standards until they would apply to private companies.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<ix:continuation continuedAt="_NewAccountingPronouncementsPolicyPolicyTextBlock-c21_cont_3" id="_NewAccountingPronouncementsPolicyPolicyTextBlock-c21_cont_2"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 18, 2019, the FASB issued ASU No.
2019-12, Income taxes (Topic 740), Simplifying the Accounting for Income Taxes. This guidance amends ASC Topic 740 and addresses several
aspects including 1) evaluation of step-up tax basis of goodwill when there is not a business combination, 2) policy election to not allocate
consolidated taxes on a separate entity basis to entities not subject to income tax, 3) accounting for tax law changes or rates during
interim periods, 4) ownership changes from equity method investment to subsidiary or vice versa, 5) elimination of exception to intrapetrous
allocation when there is gain in discontinued operations and a loss from continuing operations, and 6) treatment of franchise taxes that
are partially based on income. The amendments in this Update are effective for the Company for fiscal years beginning after December 15,
2021, and interim periods within fiscal years beginning after December 15, 2022. The Company is evaluating the impact of this guidance
on its consolidated financial statements and related disclosures.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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&#8220;Codification Improvements to Subtopic 310-20, Receivables&#8212;Nonrefundable Fees and Other Costs&#8221;. The amendments in this
Update represent changes to clarify the Codification. The amendments make the Codification easier to understand and easier to apply by
eliminating inconsistencies and providing clarifications. ASU 2020-08 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022. All entities should apply the amendments in this
Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities.
These amendments do not change the effective dates for Update 2017-08. The Company is currently evaluating the impact of this new standard
on the Company&#8217;s consolidated financial statements and related disclosures.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><ix:continuation id="_SignificantAccountingPoliciesTextBlock-c21_cont_8"><ix:continuation continuedAt="_NewAccountingPronouncementsPolicyPolicyTextBlock-c21_cont_5" id="_NewAccountingPronouncementsPolicyPolicyTextBlock-c21_cont_4"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2020, the FASB issued ASU 2020-10,
&#8220;Codification Improvements&#8221;. The amendments in this Update represent changes to clarify the Codification or correct unintended
application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative
cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities
within the scope of the affected accounting guidance. ASU 2020-10 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022.The amendments in this Update should be applied retrospectively.
The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires
entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09,
Revenue from Contracts with Customers (Topic 606). The update will generally result in an entity recognizing contract assets and contract
liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value.
The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted.
This standard is effective for the Company on January 1, 2023 and the Company does not expect a significant impact to the consolidated
financial statements upon adoption. However, the ultimate impact is dependent upon the size and frequency of future acquisitions.</p></ix:continuation>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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but not yet effective accounting standards, if currently adopted, would have a material effect on the Company&#8217;s consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows.</p></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective April 1, 2020, the Company adopted ASC
Topic 606,&#160;Revenue from Contracts with Customers, which replaced ASC Topic 605, using the modified retrospective method of adoption.
Results for reporting periods beginning after April 1, 2020 are presented under ASC Topic 606 while prior period amounts are not adjusted
and continue to be presented under the Company&#8217;s historic accounting under ASC Topic 605. The Company&#8217;s accounting for revenues
remains substantially unchanged. There were no cumulative effect adjustments made to the contracts in place prior to July 1, 2019. The
effect from the adoption of ASC Topic 606 was not material to the Company&#8217;s consolidated financial statements.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is recognized when control of promised
goods or services is transferred to the Company&#8217;s customers in an amount of consideration to which an entity expects to be entitled
to in exchange for those goods or services. Control is the ability to direct the use of and obtain substantially all of the remaining
benefits from the specified goods and services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c21" escape="true" name="us-gaap:AccountsAndNontradeReceivableTextBlock" id="ixv-19279"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 4 &#8212;&#160;ACCOUNTS RECEIVABLE, NET</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-102">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
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    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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  </table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There was <span style="-sec-ix-hidden: hidden-fact-106"><span style="-sec-ix-hidden: hidden-fact-107">no</span></span> provision of doubtful debts for the&#160;years
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><ix:nonNumeric contextRef="c21" escape="true" name="us-gaap:InventoryDisclosureTextBlock" id="ixv-19442"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 5 &#8212;&#160;MERCHANDISE INVENTORIES,
NET</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

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following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Trimmer series</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left">Nail care series</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-110">&#8211;</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other personal care appliances</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">&#8211;</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-112">&#8211;</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-113">&#8211;</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-114">&#8211;</div></td><td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-115">&#8211;</div></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:InventoryNet" scale="0" unitRef="hkd" id="ixv-22545">1,855,686</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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  </table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There was no inventory impairment for the&#160;years
ended March 31, 2023 and 2024, respectively.</p></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><!-- Field: Page; Sequence: 155; Value: 1 --><div>
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

</div><ix:nonNumeric contextRef="c21" escape="true" name="us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock" id="ixv-19590"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 &#8212;&#160;PROPERTY AND EQUIPMENT,
NET</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  </table></ix:nonNumeric>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expenses recognized for the&#160;years
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No impairment loss had been recognized during
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccruedProfessionalFeesCurrent" scale="0" unitRef="usd" id="ixv-22563">4,472</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Employee payroll and other benefits</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><ix:nonFraction contextRef="c2" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccruedSalesCommissionCurrent" scale="0" unitRef="usd" id="ixv-22569">77,507</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total accruals</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:AccruedLiabilitiesCurrent" scale="0" unitRef="hkd" id="ixv-22570">616,078</ix:nonFraction></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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  </table></ix:nonNumeric></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:nonNumeric contextRef="c21" escape="true" name="ray:ContractLiabilityTextBlock" id="ixv-19812"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 8 &#8212; CONTRACT LIABILITIES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<ix:nonNumeric contextRef="c21" escape="true" name="us-gaap:ContractWithCustomerAssetAndLiabilityTableTextBlock" id="ixv-19816"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Movement in contract liabilities, consistent of
the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left">At the beginning</td><td style="width: 1%">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiability" scale="0" unitRef="hkd" id="ixv-22573">1,705,854</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><ix:nonFraction contextRef="c6" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiability" scale="0" unitRef="usd" id="ixv-22574">217,975</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Receipt from the clients</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c20" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiabilityRevenueRecognized" scale="0" sign="-" unitRef="hkd" id="ixv-22578">1,575,520</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiabilityRevenueRecognized" scale="0" sign="-" unitRef="hkd" id="ixv-22579">1,986,295</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(<ix:nonFraction contextRef="c21" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:ContractWithCustomerLiabilityRevenueRecognized" scale="0" sign="-" unitRef="usd" id="ixv-22580">253,810</ix:nonFraction></td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">At the end</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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  </table></ix:nonNumeric></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p><div>

</div><ix:nonNumeric contextRef="c21" continuedAt="_IncomeTaxDisclosureTextBlock-c21_cont_1" escape="true" name="us-gaap:IncomeTaxDisclosureTextBlock" id="ixv-19907"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 9 &#8212;&#160;TAXES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Income tax</span></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>British Virgin Islands</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is incorporated in the BVI and is
not subject to tax on income or capital gains under current BVI law. In addition, upon payments of dividends by these entities to their
shareholders, no BVI withholding tax will be imposed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Hong&#160;Kong</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pure Beauty is incorporated in Hong&#160;Kong
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tax law, Pure Beauty is exempted from income tax on its foreign-derived income and there are <span style="-sec-ix-hidden: hidden-fact-129">no</span> withholding taxes in Hong&#160;Kong on
remittance of dividends.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-121">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  </table></ix:nonNumeric></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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rates to the Company&#8217;s effective tax rate:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><ix:nonFraction contextRef="c19" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:IncomeLossAttributableToParent" scale="0" unitRef="hkd" id="ixv-22593">11,180,378</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Hong Kong statutory income tax rate</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Income tax expense computed at statutory rate</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Reconciling items:</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Non-deductible items in Hong Kong</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left">Under provision for prior year</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Uncertain tax positions</span></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>&#160;</b></p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>&#160;</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>&#160;</b></p>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These accounts payable to a related party was
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Related party transactions</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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  </table></ix:continuation></ix:continuation><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;&#160;</p><div>

</div><ix:nonNumeric contextRef="c21" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock" id="ixv-20577"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 11 &#8212; EQUITY</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Ordinary shares</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 2, 2022, <ix:nonFraction contextRef="c129" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:CommonStockSharesIssued" scale="0" unitRef="shares" id="ixv-22646">100</ix:nonFraction> ordinary shares of the
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 10, 2023, the Company effected a share
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Dividend</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended March 31, 2023 and 2024,
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Lease Commitments</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines if a contract contains
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financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation
includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods
when the exercise of the renewal option is reasonably certain and failure to exercise such option which results in an economic penalty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company has one property lease agreement with
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><ix:nonNumeric contextRef="c21" escape="true" name="srt:ScheduleOfCondensedBalanceSheetTableTextBlock" id="ixv-20622"><ix:continuation id="_CommitmentsAndContingenciesDisclosureTextBlock-c21_cont_1"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table shows amounts recognized in
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluated all events and transactions
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 15, 2024, the Company completed its initial
public offering. In this offering, the Company issued&#160;<ix:nonFraction contextRef="c133" decimals="0" format="ixt:num-dot-decimal" name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" scale="0" unitRef="shares" id="ixv-22657">1,500,000</ix:nonFraction>&#160;Ordinary Shares at a price of US$<ix:nonFraction contextRef="c134" decimals="2" format="ixt:num-dot-decimal" name="us-gaap:SaleOfStockPricePerShare" scale="0" unitRef="usdPershares" id="ixv-22658">4.00</ix:nonFraction>&#160;per share. The Company
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Shares began trading on May 15, 2024 on the Nasdaq Capital Market under the ticker symbol &#8220;RAY&#8221;.</p></ix:nonNumeric><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>PART II</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>INFORMATION NOT REQUIRED IN PROSPECTUS</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>ITEM 6. INDEMNIFICATION OF DIRECTORS AND OFFICERS.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Raytech
Holding&#8217;s amended and restated memorandum and articles of association, which became effective on May 10, 2023, empowers Raytech
Holding to indemnify Raytech Holding&#8217;s directors and officers against certain liabilities they incur by reason of their being a
director or officer of Raytech Holding.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman,serif; margin: 0; text-align: justify; text-indent: 0.5in; background-color: white">Raytech Holding
has also entered into indemnification agreements with each of Raytech Holding&#8217;s directors and executive officers in connection with
this offering, the form of which is filed as Exhibit 10.5 to this registration statement. Under these agreements, Raytech Holding has
agreed to indemnify Raytech Holding&#8217;s directors and executive officers against certain liabilities and expenses incurred by such
persons in connection with claims made by reason of their being a director or officer of Raytech Holding.&#160;</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">The
placement agency agreement entered into, or to be entered into, in connection with this offering also provides for indemnification of
Raytech Holding and Raytech Holding&#8217;s officers, directors or persons controlling Raytech Holding for certain liabilities.</p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">

</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Raytech
Holding intends to obtain directors&#8217; and officer&#8217;s liability insurance coverage that will cover certain liabilities of directors
and officers of Raytech Holding arising out of claims based on acts or omissions in their capacities as directors or officers.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>ITEM 7. RECENT SALES OF UNREGISTERED SECURITIES.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">In
the past three years, we have issued the following securities (including options to acquire our ordinary shares) that were not registered
under the Securities Act. We believe that each of the following issuances was exempt from registration under the Securities Act pursuant
to Section 4(a)(2) of the Securities Act regarding transactions not involving a public offering or in reliance on Regulation S under the
Securities Act regarding sales by an issuer in offshore transactions. No placement agents were involved in these issuances of securities.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: black 1.5pt solid"><b>Purchaser</b></td>
    <td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; text-align: center"><b>Date of Issuance</b></td>
    <td style="padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: center"><b>Number of Ordinary Shares</b></td>
    <td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: black 1.5pt solid; text-align: center"><b>Consideration Paid</b></td></tr>
  <tr>
    <td style="vertical-align: top">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td colspan="2" style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top; width: 24%">Ching Tim Hoi &#160;<span style="font-size: 10pt"><sup>(1)</sup></span></td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: top; text-align: center; width: 12%">July 24, 2022</td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: bottom; text-align: right; width: 9%">90</td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: bottom; width: 1%">&#160;</td>
    <td style="vertical-align: bottom; width: 50%">US$90.00</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top">Top Virtue International Limited</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">July 24, 2022</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">US$3.00</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">Market Tycoon Investments Limited</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">July 24, 2022</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">3</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">US$3.00</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top">Value Classic Global Limited</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">July 24, 2022</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">4</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">US$4.00</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">Ching Tim Hoi </td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">May 10, 2023</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">12,800,000</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: justify">N/A (shares split on May 10, 2023: shares subdivided from 1 share to 160,000 shares(s), by amending the par value from US$1.00 to US$0.00000625)</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top">Top Virtue International Limited</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">May 10, 2023</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">480,000</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: justify">N/A (shares split on May 10, 2023: shares subdivided from 1 share to 160,000 shares(s), by amending the par value from US$1.00 to US$0.00000625)</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">Market Tycoon Investments Limited <span style="font-size: 10pt"><sup>(2)</sup></span></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">May 10, 2023</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">480,000</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: justify">N/A (shares split on May 10, 2023: shares subdivided from 1 share to 160,000 shares(s), by amending the par value from US$1.00 to US$0.00000625)</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top">Value Classic Global Limited <span style="font-size: 10pt"><sup>(3)</sup></span></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">May 10, 2023</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">640,000</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: justify">N/A (shares split on May 10, 2023: shares subdivided from 1 share to 160,000 shares(s), by amending the par value from US$1.00 to US$0.00000625)</td></tr>
  <tr style="background-color: #CCEEFF">
    <td style="vertical-align: top">APTC Holdings Limited <span style="font-size: 10pt"><sup>(1)(4)</sup></span></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">May 10, 2023</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">800,000</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: justify">N/A (shares split on May 10, 2023: shares subdivided from 1 share to 160,000 shares(s), by amending the par value from US$1.00 to US$0.00000625)</td></tr>
  <tr style="background-color: white">
    <td style="vertical-align: top">Ling Chun Yin <span style="font-size: 10pt"><sup>(1)</sup></span></td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: top; text-align: center">May 10, 2023</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: right">800,000</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom">&#160;</td>
    <td style="vertical-align: bottom; text-align: justify">N/A (shares split on May 10, 2023: shares subdivided from 1 share to 160,000 shares(s), by amending the par value from US$1.00 to US$0.00000625)</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0in"/><td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">On September 8, 2022, Mr. Ching Tim Hoi transferred to each of APTC
Holdings Limited and Ling Chun Yin 5 ordinary shares.</td>
</tr></table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">(2)</td>
    <td style="text-align: justify">On August 30, 2023, Market Tycoon Investments Limited transferred 480,000 Ordinary Shares to Mr. WONG TAI CHI. On October 11, 2023, Mr. WONG TAI CHI transferred 480,000 Ordinary Shares to Value Crystal Investment Limited.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">(3)</td>
    <td style="text-align: justify">On October 11, 2023, Value Classic Global Limited transferred 640,000 Ordinary Shares to Crystal Charm Investments Limited.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">(4)</td>
    <td style="text-align: justify">On August 30, 2023, APTC Holdings Limited transferred 800,000 Ordinary Shares to Ms. LOOK Wai Yi. On October 11, 2023, Ms. LOOK Wai Yi transferred 800,000 Ordinary Shares to Ace Challenger Limited.</td></tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>ITEM 8. EXHIBITS AND FINANCIAL STATEMENT SCHEDULES.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>(a) Exhibits</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">See
the Exhibit Index attached to this registration statement, which is incorporated by reference herein.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>(b) Financial Statement Schedules</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Schedules
have been omitted because the information required to be set forth therein is not applicable or is shown in the Consolidated Financial
Statements or the Notes thereto.</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->2<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>ITEM 9. UNDERTAKINGS.</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The undersigned registrant hereby undertakes</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">(1)</td><td style="text-align: justify">To file, during any period in which offers or sales are being
made, a post-effective amendment to this registration statement:</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(i)</td><td style="text-align: justify">To include any prospectus required by Section 10(a)(3) of the
Securities Act of 1933;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(ii)</td><td style="text-align: justify">To reflect in the prospectus any facts or events arising after the
effective date of this registration statement (or the most recent post-effective amendment hereof) which, individually or in the aggregate,
represent a fundamental change in the information set forth in this registration statement. Notwithstanding the foregoing, any increase
or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered)
and any deviation from the low or high end of the estimated best efforts offering range may be reflected in the form of prospectus filed
with the Securities and Exchange Commission pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no
more than a 20% change in the maximum aggregate offering price set forth in the &#8220;Calculation of Registration Fee&#8221; table in
the effective registration statement; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(iii)</td><td style="text-align: justify">To include any material information with respect to the plan
of distribution not previously disclosed in this registration statement or any material change to such information in this registration
statement;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">(2)</td><td style="text-align: justify">That, for the purpose of determining any liability under the
Securities Act of 1933, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities
offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">(3)</td><td style="text-align: justify">To remove from registration by means of a post-effective amendment
any of the securities being registered which remain unsold at the termination of the offering.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">(4)</td><td style="text-align: justify">That, for the purpose of determining liability under the Securities
Act of 1933 to any purchaser:</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(i)</td><td style="text-align: justify">If the Registrant is relying on Rule 430B (&#167;230.430B of
this chapter):</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">(A)</td><td style="text-align: justify">Each prospectus filed by the registrant pursuant to Rule
424(b)(3) shall be deemed to be part of the registration statement as of the date the filed prospectus was deemed part of and included
in the registration statement; and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.75in"/><td style="width: 0.25in; text-align: left">(B)</td><td style="text-align: justify">Each prospectus required to be filed pursuant to Rule 424(b)(2), (b)(5),
or (b)(7) as part of a registration statement in reliance on Rule 430B relating to an offering made pursuant to Rule 415(a)(1)(i), (vii),
or (x) for the purpose of providing the information required by section 10(a) of the Securities Act of 1933 shall be deemed to be part
of and included in the registration statement as of the earlier of the date such form of prospectus is first used after effectiveness
or the date of the first contract of sale of securities in the offering described in the prospectus. As provided in Rule 430B, for liability
purposes of the issuer and any person that is at that date an placement agent, such date shall be deemed to be a new effective date of
the registration statement relating to the securities in the registration statement to which that prospectus relates, and the offering
of such securities at that time shall be deemed to be the initial bona fide offering thereof. Provided, however, that no statement made
in a registration statement or prospectus that is part of the registration statement or made in a document incorporated or deemed incorporated
by reference into the registration statement or prospectus that is part of the registration statement will, as to a purchaser with a time
of contract of sale prior to such effective date, supersede or modify any statement that was made in the registration statement or prospectus
that was part of the registration statement or made in any such document immediately prior to such effective date; or</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(ii)</td><td style="text-align: justify">If the Registrant is subject to Rule 430C, each prospectus filed pursuant
to Rule 424(b) as part of a registration statement relating to an offering, other than registration statements relying on Rule 430B or
other than prospectuses filed in reliance on Rule 430A, shall be deemed to be part of and included in the registration statement as of
the date it is first used after effectiveness. Provided, however, that no statement made in a registration statement or prospectus that
is part of the registration statement or made in a document incorporated or deemed incorporated by reference into the registration statement
or prospectus that is part of the registration statement will, as to a purchaser with a time of contract of sale prior to such first use,
supersede or modify any statement that was made in the registration statement or prospectus that was part of the registration statement
or made in any such document immediately prior to such date of first use.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->3<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>


</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 24px; font-size: 10pt">&#160;</td>
    <td style="width: 24px; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="text-align: justify; font-size: 10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">That, for the purpose of determining liability of the Registrant under the Securities Act of 1933 to any purchaser in the initial distribution of the securities, the undersigned Registrant undertakes that in a primary offering of securities of the undersigned registrant pursuant to this registration statement, regardless of the placement agent method used to sell the securities to the purchaser, if the securities are offered or sold to such purchaser by means of any of the following communications, the undersigned registrant will be a seller to the purchaser and will be considered to offer or sell such securities to such purchaser:</span></td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(i)</td><td style="text-align: justify">Any preliminary prospectus or prospectus of the undersigned Registrant
relating to the offering required to be filed pursuant to Rule 424;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(ii)</td><td style="text-align: justify">Any free writing prospectus relating to the offering prepared by or
on behalf of the undersigned Registrant or used or referred to by the undersigned Registrant;</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(iii)</td><td style="text-align: justify">The portion of any other free writing prospectus relating to the offering
containing material information about the undersigned Registrant or its securities provided by or on behalf of the undersigned registrant;
and</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(iv)</td><td style="text-align: justify">Any other communication that is an offer in the offering made by the
undersigned registrant to the purchaser</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">(6)</td><td style="text-align: justify">To file a post-effective amendment to the registration statement to
include any financial statements required by item 8.A. of Form 20-F at the start of any delayed offering or throughout a continuous offering.
Financial statements and information otherwise required by Section 10(a)(3) of the Act need not be furnished, provided, that the Registrant
includes in the prospectus, by means of a post-effective amendment, financial statements required pursuant to this paragraph (a)(4) and
other information necessary to ensure that all other information in the prospectus is at least as current as the date of those financial
statements.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">(7)</td><td style="text-align: justify">For purposes of determining any liability under the Securities Act of
1933, the information omitted from the form of prospectus filed as part of this registration statement in reliance upon Rule 430A and
contained in a form of prospectus filed by the registrant under Rule 424(b)(1) or (4) or 497(h) under the Securities Act shall be deemed
to be part of this registration statement as of the time it was declared effective.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.25in"/><td style="width: 0.25in; text-align: left">(8)</td><td style="text-align: justify">For the purpose of determining any liability under the Securities Act
of 1933, each post-effective amendment that contains a form of prospectus shall be deemed to be a new registration statement relating
to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering
thereof.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;"><tr style="vertical-align: top; text-align: justify">
<td style="width: 0.5in"/><td style="width: 0.25in; text-align: left">(b)</td><td style="text-align: justify">Insofar as indemnification for liabilities arising under the Securities
Act of 1933 may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, the
Registrant has been advised that in the opinion of the Securities and Exchange Commission such indemnification is against public policy
as expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the
successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the
securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent,
submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in
such Act and will be governed by the final adjudication of such issue.</td>
</tr></table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"></p><div>


</div><!-- Field: Page; Sequence: 164; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->4<!-- Field: /Sequence --></p></div><div>
    </div><div style="break-before: page; margin-top: 6pt; margin-bottom: 12pt"><p style="margin: 0pt"></p></div><div>
    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-size: 6pt"><b><i>&#160;</i></b></span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>EXHIBIT INDEX</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-size: 6pt"><b><i>&#160;</i></b></span></p><div>


</div><table cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 10%; border-bottom: black 1.5pt solid; font-family: Times New Roman,serif"><span style="font-size: 10pt"><b>Exhibit No.</b></span></td>
    <td style="width: 1%; font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="width: 89%; border-bottom: black 1.5pt solid; font-family: Times New Roman,serif"><span style="font-size: 10pt"><b>Description</b></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">1.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex1-1_raytech.htm">Form of Placement Agency Agreement</a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">3.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex3-1_raytechhold.htm"><span style="font-size: 10pt">Amended and Restated Memorandum and Articles of Association (incorporated by reference to Exhibit 3.1 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">4.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex4-1_raytechhold.htm"><span style="font-size: 10pt">Specimen Certificate for Ordinary Shares (incorporated by reference to Exhibit 4.1 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">4.2+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000101376224002233/ea020915001ex2-2_raytech.htm"><span style="font-size: 10pt">Description of Securities registered under Section 12 of the Securities Exchange Act of 1934 (incorporated by reference to Exhibit 2.2 to the Annual Report on Form 20-F filed by the Company with SEC on July 30, 2024)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">5.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex5-1_raytech.htm">Opinion of Harney Westwood &amp; Riegels regarding the validity of the Ordinary Shares being registered</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="-keep: true">5.2+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex5-1_raytech.htm">Opinion of Harney Westwood &amp; Riegels as to BVI tax matters (included in Exhibit 5.1)</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">5.3+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex5-3_raytech.htm">Opinion
    of CLKW Lawyers LLP regarding certain Hong Kong Legal Matters</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">5.4+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex5-4_raytech.htm">Opinion
    of AllBright Law Offices (Fuzhou) regarding certain Legal Matters of Mainland China</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000101376224002233/ea020915001ex4-1_raytech.htm"><span style="font-size: 10pt">Executive Employment Agreement between Registrant and CEO, dated as of July 5, 2023 (incorporated by reference to Exhibit 4.1 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.2+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000101376224002233/ea020915001ex4-2_raytech.htm"><span style="font-size: 10pt">Executive Employment Agreement between Registrant and CFO, dated as of May 13, 2024 (incorporated by reference to Exhibit 4.2 to the Annual Report on Form 20-F filed by the Company with SEC on July 30, 2024)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td>10.3+</td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000101376224002233/ea020915001ex4-3_raytech.htm"><span style="font-size: 10pt">Offer Letter by the Registrant to Andrew Ling, dated as of May 13, 2024. (incorporated by reference to Exhibit 4.3 to the Annual Report on Form 20-F filed by the Company with SEC on July 30, 2024)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.4+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000101376224002233/ea020915001ex4-4_raytech.htm"><span style="font-size: 10pt">Form of Director Offer Letter (incorporated by reference to Exhibit 4.4 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.5+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="text-decoration: none; font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex10-2_raytechhold.htm">Form of Indemnification Agreement with the Registrant&#8217;s directors and officers (incorporated by reference to Exhibit 10.2 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
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    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000121390024044772/ea020639501ex1-1_raytech.htm"><span style="font-size: 10pt">Underwriting Agreement (incorporated by reference to Exhibit 1.1 to the Form 6-K filed with SEC on May 17, 2024)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.7+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex10-3_raytechhold.htm"><span style="font-size: 10pt">Form of Sales and Purchase Agreement with Koizumi Seiki Corp., dated July 1, 2014 (incorporated by reference to Exhibit 10.3 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.8+&#160;</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex10-4_raytechhold.htm"><span style="font-size: 10pt">English Translation of Purchase Collaboration Agreement with Zhongshan Raytech Electrical Appliances Manufacturing Co., Ltd., dated Jan 1, 2021 (incorporated by reference to Exhibit 10.4 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.9+&#160;</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex10-5_raytechhold.htm"><span style="font-size: 10pt">English Translation of Purchase Collaboration Agreement with Zhongshan Leimi Electrical Appliances Company Limited, dated January 1, 2021 (incorporated by reference to Exhibit 10.5 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.10+&#160;</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex10-6_raytechhold.htm"><span style="font-size: 10pt">English Translation of Lease Agreement with Raytech Holdings Company Limited, dated April 1, 2022 (incorporated by reference to Exhibit 10.6 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.11+&#160;</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000121390024017590/ea0200646ex10-7_raytech.htm"><span style="font-size: 10pt">English Translation of Lease Agreement with Wong Yuk Lin, dated April 1, 2023 (including the master Lease Agreement between Raytech Holdings Company Limited and Wong Yuk Lin) (incorporated by reference to Exhibit 10.7 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.12+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000121390024038388/ea020493701ex10-8_raytech.htm"><span style="font-size: 10pt">English Translation of Lease Agreement with Raytech Holdings Company Limited, dated April 1, 2024 (incorporated by reference to Exhibit 10.8 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
</table><div>

</div><p style="margin: 0">&#160;</p><div>

</div><p style="margin: 0"></p><div>

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    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->5<!-- Field: /Sequence --></p></div><div>
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</div><p style="margin: 0">&#160;</p><div>

</div><table cellpadding="0" style="width: 100%; border-collapse: collapse; font-size: 10pt; border-spacing: 0px;">
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.13+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000101376224002233/ea020915001ex4-12_raytech.htm"><span style="font-size: 10pt">Form of Purchase Order with One Major customer (incorporated by reference to Exhibit 4.12 to the Annual Report on Form 20-F filed by the Company with SEC on July 30, 2024)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.14+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390024090945/ea021871801ex4-1_raytech.htm"><span style="font-size: 10pt">2024 Equity Incentive Plan (incorporated by reference to Exhibit 4.1 of our Form 6-K&#160;&#160;originally filed with SEC on October 28, 2024)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">10.15+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex10-15_raytech.htm">English
    Translation of Lease Agreement with Raytech Holdings Company Limited, dated April 1, 2025</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="-keep: true">10.16+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex10-16_raytech.htm">Form
    of Securities Purchase Agreement</a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">15.1++</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="ea024523501ex15-1_raytech.htm">Letter In Lieu of Consent For Review Report</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify">16.1+</td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><p style="margin: 0; font: 10pt Times New Roman,serif"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000121390025046442/ea024212101ex16-1_raytech.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration:underline;text-decoration: none">Letter
                                                                        of WWC, P.C. to the U.S. Securities and Exchange Commission dated May 21, 2025&#160;(</span></span><span style="text-decoration-style: initial">incorporated
                                                                        by reference to Exhibit 16.1 of our Form 6-K originally filed with SEC on May 21, 2025</span>.</a></p></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">19.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000121390023088287/ea188575ex19-1_raytechhold.htm"><span style="font-size: 10pt">Insider Trading Policy of the Registrant (incorporated by reference to Exhibit 19.1 of our registration statement on Form F-1 (File No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">21.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex21-1_raytech.htm">List of Subsidiaries</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">23.1++</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="ea024523501ex23-1_raytech.htm">Consent of WWC, P.C., Independent Registered Public Accounting Firm</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">23.2+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex5-1_raytech.htm"><span style="font-size: 10pt">Consent of Harney Westwood &amp;
    Riegels (included in Exhibit 5.1)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">23.3+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex5-3_raytech.htm"><span style="font-size: 10pt">Consent of CLKW Lawyers LLP
    (included in Exhibit 5.3)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">23.4+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex5-4_raytech.htm">Consent of AllBright Law Offices (Fuzhou) (included in Exhibit 5.4)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">24.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea0242668-f1_raytech.htm#poa_001">Power of Attorney (included on signature page)</a></span></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">99.1+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000121390024007316/ea192255ex14-1_raytechhold.htm"><span style="font-size: 10pt">Code of Business Conduct and Ethics of the Registrant (incorporated by reference to Exhibit 14.1 of our registration statement on Form F-1 (Registration No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">99.2+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex99-8_raytechhold.htm"><span style="font-size: 10pt">Audit Committee Charter (incorporated by reference to Exhibit 99.7 of our registration statement on Form F-1 (Registration No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">99.3+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex99-9_raytechhold.htm"><span style="font-size: 10pt">Nominating and Corporate Governance Committee Charter (incorporated by reference to Exhibit 99.8 of our registration statement on Form F-1 (Registration No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">99.4+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000101376223007264/ea183887ex99-10_raytechhold.htm"><span style="font-size: 10pt">Compensation Committee Charter (incorporated by reference to Exhibit 99.9 of our registration statement on Form F-1 (Registration No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: White">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">99.5+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><a href="https://www.sec.gov/Archives/edgar/data/1948443/000121390023088287/ea188575ex99-10_raytechhold.htm"><span style="font-size: 10pt">Clawback Policy of the Registrant (incorporated by reference to Exhibit 99.10 of our registration statement on Form F-1 (Registration No. 333-275197) originally filed with SEC on October 27, 2023)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt">107+</span></td>
    <td style="font-family: Times New Roman,serif; text-align: justify">&#160;</td>
    <td style="font-family: Times New Roman,serif; text-align: justify"><span style="font-size: 10pt"><a href="http://www.sec.gov/Archives/edgar/data/1948443/000121390025052091/ea024266801ex-fee_raytech.htm">Filing
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<tr style="vertical-align: top; background-color: White">
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    <td style="width: 1%">&#160;</td>
    <td style="text-align: justify; width: 89%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Instance Document</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">101.SCH++</span></td>
    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Taxonomy Extension Schema Document</span></td></tr>
<tr style="vertical-align: top; background-color: White">
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    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Taxonomy Extension Calculation Linkbase Document</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
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    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Taxonomy Extension Definition Linkbase Document</span></td></tr>
<tr style="vertical-align: top; background-color: White">
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    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Taxonomy Extension Label Linkbase Document</span></td></tr>
<tr style="vertical-align: top; background-color: rgb(204,238,255)">
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    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inline XBRL Taxonomy Extension Presentation Linkbase Document</span></td></tr>
<tr style="vertical-align: top; background-color: White">
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    <td>&#160;</td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101)</span></td></tr>
</table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="font-size: 6pt"><i>&#160;</i></span></p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">+&#160;</td>
    <td>Previously filed&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>++</td>
    <td>Filed herewith&#160;</td></tr>
  </table><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p><div>

</div><!-- Field: Page; Sequence: 166; Value: 1 --><div>
    </div><div style="margin-top: 12pt; margin-bottom: 6pt; border-bottom: Black 1.5pt solid"><p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">II-<!-- Field: Sequence; Type: Arabic; Name: PageNo -->6<!-- Field: /Sequence --></p></div><div>
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    </div><!-- Field: /Page --><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURES</b></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="-keep: true">&#160;</span></p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white"><span style="-keep: true">Pursuant
to the requirements of the Securities Act of 1933, the registrant certifies that it has reasonable grounds to believe that it meets all
of the requirements for filing on the Form F-1 and has duly caused this registration statement to be signed on its behalf by the undersigned,
thereunto duly authorized, in Hong Kong, on the 11th of June 2025.&#160;</span></p><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;&#160;</p><div>

</div><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td colspan="2">Raytech Holding Limited</td>
    </tr>
  <tr style="vertical-align: top">
    <td style="width: 60%">&#160;</td>
    <td style="width: 4%">&#160;</td>
    <td style="width: 36%">&#160;</td>
    </tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
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    <td style="border-bottom: black 1.5pt solid">/s/ Ching Tim Hoi</td>
    </tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>Ching Tim Hoi</td>
    </tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>Chief Executive Officer</td>
    </tr>
  </table><div>
</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in; background-color: white">Pursuant
to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities
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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p><div>

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</div><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>SIGNATURE OF AUTHORIZED REPRESENTATIVE IN THE
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<DOCUMENT>
<TYPE>EX-15.1
<SEQUENCE>2
<FILENAME>ea024523501ex15-1_raytech.htm
<DESCRIPTION>LETTER IN LIEU OF CONSENT FOR REVIEW REPORT
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 15.1</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B><IMG SRC="ex15-1_001.jpg" ALT=""></B></P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">To the Board of Directors and Shareholders of</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">Raytech Holding Limited</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: left">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">LETTER IN LIEU OF CONSENT FOR REVIEW REPORT</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We have reviewed, in accordance with the standards of the Public Company Accounting Oversight
Board (United States), the unaudited interim condensed consolidated financial statements of <FONT STYLE="font-family: Times New Roman, Times, Serif">Raytech
Holding Limited and its subsidiaries for the six-month periods ended September 30, 2023 and 2024, as included in the Company&rsquo;s Amendment
No.1 to Form F-1 (No. 333-287842) on June 11, 2025; because we did not perform an audit, we do not express an opinion on this interim
financial information. </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We also are aware that the aforementioned report, pursuant to Rule 436(c) under the Securities
Act of 1933, is not considered a part of the Registration Statement prepared or certified by an accountant or a report prepared or certified
by an accountant within the meaning of Sections 7 and 11 of that Act.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><IMG SRC="ex15-1_003.jpg" ALT=""></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">San Mateo, California</FONT></TD>
    <TD STYLE="width: 40%; text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">WWC, P.C.</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">June 11, 2025</TD>
    <TD STYLE="text-align: justify"><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certified Public Accountants</FONT></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD>&nbsp;</TD>
    <TD><FONT STYLE="font-family: Times New Roman, Times, Serif; font-size: 10pt">PCAOB ID: 1171</FONT></TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><IMG SRC="ex15-1_002.jpg" ALT=""></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

</BODY>
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<DOCUMENT>
<TYPE>EX-23.1
<SEQUENCE>3
<FILENAME>ea024523501ex23-1_raytech.htm
<DESCRIPTION>CONSENT OF WWC, P.C., INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
<TEXT>
<HTML>
<HEAD>
     <TITLE></TITLE>
</HEAD>
<BODY STYLE="font: 10pt Times New Roman, Times, Serif">

<P STYLE="text-align: right; margin: 0"><B>Exhibit 23.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: center; margin-top: 0; margin-bottom: 0"><IMG SRC="ex23-1_001.jpg" ALT=""></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>Consent of Independent Registered Public Accounting
Firm</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">We hereby consent to the inc<FONT STYLE="font-family: Times New Roman, Times, Serif">lusion
of our report dated July 30, 2024 in the Registration Statement on Amendment No.1 to Form F-1, under the Securities Act of 1933 (File
No. 333-287842) with respect to the consolidated balance sheets of Raytech Holding Limited and its subsidiaries as of March 31, 2023 and
2024, and related consolidated statements of income, changes in shareholders&rsquo; equity and cash flows for each of the years in the
two-year period ended March 31, 2024, and the related notes included herein.</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify"><IMG SRC="ex23-1_003.jpg" ALT=""></TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="width: 60%; text-align: justify">San Mateo, California</TD>
    <TD STYLE="width: 40%; text-align: justify">WWC, P.C.</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">June 11, 2025</TD>
    <TD STYLE="text-align: justify">Certified Public Accountants</TD></TR>
  <TR STYLE="vertical-align: top">
    <TD STYLE="text-align: justify">&nbsp;</TD>
    <TD STYLE="text-align: justify">PCAOB ID: 1171</TD></TR>
  </TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><IMG SRC="ex23-1_002.jpg" ALT="">&nbsp;</P>

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</DOCUMENT>
<DOCUMENT>
<TYPE>GRAPHIC
<SEQUENCE>11
<FILENAME>ex23-1_001.jpg
<DESCRIPTION>GRAPHIC
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<DOCUMENT>
<TYPE>EX-101.PRE
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<TEXT>
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<DOCUMENT>
<TYPE>EX-101.LAB
<SEQUENCE>15
<FILENAME>ray-20240930_lab.xml
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<TEXT>
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<!-- Created: Wed Jun 11 10:19:47 UTC 2025 -->
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressesAddressTypeAxis_lbl" xml:lang="en-US">Entity Addresses, Address Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressesAddressTypeAxis" xlink:to="dei_EntityAddressesAddressTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AssetsCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsCurrent_lbl" xml:lang="en-US">TOTAL CURRENT ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrent" xlink:to="us-gaap_AssetsCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AssetsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AssetsNoncurrent_lbl" xml:lang="en-US">TOTAL NON-CURRENT ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_AssetsNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Assets" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Assets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Assets_lbl" xml:lang="en-US">TOTAL ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyTransactionAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionAxis_lbl" xml:lang="en-US">Related Party Transaction [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionAxis" xlink:to="us-gaap_RelatedPartyTransactionAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesCurrent_lbl" xml:lang="en-US">TOTAL CURRENT LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrent" xlink:to="us-gaap_LiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Liabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Liabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Liabilities_lbl" xml:lang="en-US">TOTAL LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_StockholdersEquity_lbl" xml:lang="en-US">TOTAL SHAREHOLDERS&#8217; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_StockholdersEquity_lbl0" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_StockholdersEquity_lbl1" xml:lang="en-US">Balance</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquity_lbl2" xml:lang="en-US">Balance (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl2"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LiabilitiesAndStockholdersEquity"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquity_lbl" xml:lang="en-US">TOTAL LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquity" xlink:to="us-gaap_LiabilitiesAndStockholdersEquity_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_ProductOrServiceAxis" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_ProductOrServiceAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ProductOrServiceAxis_lbl" xml:lang="en-US">Product and Service [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ProductOrServiceAxis" xlink:to="srt_ProductOrServiceAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Revenues" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Revenues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_Revenues_lbl" xml:lang="en-US">Total revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_Revenues_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Revenues" xlink:to="us-gaap_Revenues_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingExpenses" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingExpenses"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedTotalLabel" xlink:label="us-gaap_OperatingExpenses_lbl" xml:lang="en-US">Total operating expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingIncomeLoss_lbl" xml:lang="en-US">INCOME FROM OPERATIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NonoperatingIncomeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NonoperatingIncomeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NonoperatingIncomeExpense_lbl" xml:lang="en-US">Total other income, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpense" xlink:to="us-gaap_NonoperatingIncomeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl" xml:lang="en-US">INCOME BEFORE INCOME TAX PROVISION</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetIncomeLoss" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetIncomeLoss"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetIncomeLoss_lbl" xml:lang="en-US">NET INCOME</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetIncomeLoss_lbl0" xml:lang="en-US">Net income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetIncomeLoss" xlink:to="us-gaap_NetIncomeLoss_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl" xml:lang="en-US">Balance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl0" xml:lang="en-US">Balance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl1" xml:lang="en-US">Ordinary Shares, shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl2" xml:lang="en-US">Balance (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/netLabel" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl3" xml:lang="en-US">Shares outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl3"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementEquityComponentsAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementEquityComponentsAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementEquityComponentsAxis_lbl" xml:lang="en-US">Equity Components [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementEquityComponentsAxis" xlink:to="us-gaap_StatementEquityComponentsAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInOperatingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl" xml:lang="en-US">Net cash provided by operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl" xml:lang="en-US">Net cash provided by investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl" xml:lang="en-US">Net cash (used in)/from financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl" xml:lang="en-US">Change in cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US">Cash at the beginning of the period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl0" xml:lang="en-US">Cash at the end of the period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl0"/>
    <loc xlink:type="locator" xlink:label="srt_RestatementAxis" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_RestatementAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RestatementAxis_lbl" xml:lang="en-US">Revision of Prior Period [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RestatementAxis" xlink:to="srt_RestatementAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl" xml:lang="en-US">Nature of Business and Organization [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract" xlink:to="us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_OwnershipAxis" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_OwnershipAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OwnershipAxis_lbl" xml:lang="en-US">Ownership [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OwnershipAxis" xlink:to="srt_OwnershipAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountingPoliciesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountingPoliciesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountingPoliciesAbstract_lbl" xml:lang="en-US">Summary of Significant Accounting Policies and Practices [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountingPoliciesAbstract" xlink:to="us-gaap_AccountingPoliciesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentByTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl" xml:lang="en-US">Long-Lived Tangible Asset [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentByTypeAxis" xlink:to="us-gaap_PropertyPlantAndEquipmentByTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenueFromContractWithCustomerAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RevenueFromContractWithCustomerAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerAbstract_lbl" xml:lang="en-US">Revenue [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerAbstract" xlink:to="us-gaap_RevenueFromContractWithCustomerAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetAbstract_lbl" xml:lang="en-US">Accounts Receivable, Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetAbstract" xlink:to="us-gaap_AccountsReceivableNetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableAdditionalDisclosuresAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract_lbl" xml:lang="en-US">Schedule of Accounts Receivable, Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract" xlink:to="us-gaap_AccountsReceivableAdditionalDisclosuresAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableNetCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableNetCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl" xml:lang="en-US">Accounts receivable, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl0" xml:lang="en-US">Accounts receivable, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinancingReceivablesPeriodPastDueAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivablesPeriodPastDueAxis_lbl" xml:lang="en-US">Financial Asset, Aging [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivablesPeriodPastDueAxis" xlink:to="us-gaap_FinancingReceivablesPeriodPastDueAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InventoryDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryDisclosureAbstract_lbl" xml:lang="en-US">Merchandise Inventories, Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureAbstract" xlink:to="us-gaap_InventoryDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PublicUtilitiesInventoryAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PublicUtilitiesInventoryAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PublicUtilitiesInventoryAxis_lbl" xml:lang="en-US">Inventory [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PublicUtilitiesInventoryAxis" xlink:to="us-gaap_PublicUtilitiesInventoryAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl" xml:lang="en-US">Property and Equipment, Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNetAbstract" xlink:to="us-gaap_PropertyPlantAndEquipmentNetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentNet" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl" xml:lang="en-US">Property and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl0" xml:lang="en-US">Property and equipment, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PayablesAndAccrualsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PayablesAndAccrualsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PayablesAndAccrualsAbstract_lbl" xml:lang="en-US">Accruals [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PayablesAndAccrualsAbstract" xlink:to="us-gaap_PayablesAndAccrualsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfAccrualsAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfAccrualsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfAccrualsAbstract_lbl" xml:lang="en-US">Schedule of Accruals [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfAccrualsAbstract" xlink:to="ray_ScheduleOfAccrualsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccruedLiabilitiesCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccruedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl" xml:lang="en-US">Total accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl0" xml:lang="en-US">Accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedLiabilitiesCurrent" xlink:to="us-gaap_AccruedLiabilitiesCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DepositContractsLiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DepositContractsLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepositContractsLiabilitiesAbstract_lbl" xml:lang="en-US">Contract Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositContractsLiabilitiesAbstract" xlink:to="us-gaap_DepositContractsLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ChangeInContractWithCustomerLiabilityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ChangeInContractWithCustomerLiabilityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ChangeInContractWithCustomerLiabilityAbstract_lbl" xml:lang="en-US">Schedule of Movement in Contract Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ChangeInContractWithCustomerLiabilityAbstract" xlink:to="us-gaap_ChangeInContractWithCustomerLiabilityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ContractWithCustomerLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ContractWithCustomerLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodStartLabel" xlink:label="us-gaap_ContractWithCustomerLiability_lbl" xml:lang="en-US">At the beginning</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiability" xlink:to="us-gaap_ContractWithCustomerLiability_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/periodEndLabel" xlink:label="us-gaap_ContractWithCustomerLiability_lbl0" xml:lang="en-US">At the end</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiability" xlink:to="us-gaap_ContractWithCustomerLiability_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxDisclosureAbstract_lbl" xml:lang="en-US">Taxes [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureAbstract" xlink:to="us-gaap_IncomeTaxDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_lbl" xml:lang="en-US">Schedule of Taxation in the Statement of Income [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract" xlink:to="us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_IncomeTaxExpensesBenefit" xlink:href="ray-20240930.xsd#ray_IncomeTaxExpensesBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="ray_IncomeTaxExpensesBenefit_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncomeTaxExpensesBenefit" xlink:to="ray_IncomeTaxExpensesBenefit_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ray_IncomeTaxExpensesBenefit_lbl0" xml:lang="en-US">PROVISION FOR INCOME TAXES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncomeTaxExpensesBenefit" xlink:to="ray_IncomeTaxExpensesBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_IncomeTaxExpensesBenefit_lbl1" xml:lang="en-US">Effective income tax expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncomeTaxExpensesBenefit" xlink:to="ray_IncomeTaxExpensesBenefit_lbl1"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationTaxSettlementsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxReconciliationTaxSettlementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationTaxSettlementsAbstract_lbl" xml:lang="en-US">Schedule of Statutory Rates to Effective Tax Rate [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxSettlementsAbstract" xlink:to="us-gaap_IncomeTaxReconciliationTaxSettlementsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyTransactionsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsAbstract_lbl" xml:lang="en-US">Related Party Balances and Transactions [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsAbstract" xlink:to="us-gaap_RelatedPartyTransactionsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyTransactionsByRelatedPartyAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl" xml:lang="en-US">Related and Nonrelated Parties [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis" xlink:to="us-gaap_RelatedPartyTransactionsByRelatedPartyAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityAbstract_lbl" xml:lang="en-US">Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityAbstract" xlink:to="us-gaap_EquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommitmentsAndContingenciesDisclosureAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl" xml:lang="en-US">Commitments and Contingencies [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureAbstract" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfAmountsRecognizedInTheConsolidatedBalanceSheetAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfAmountsRecognizedInTheConsolidatedBalanceSheetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfAmountsRecognizedInTheConsolidatedBalanceSheetAbstract_lbl" xml:lang="en-US">Schedule of Amounts Recognized in the Consolidated Balance Sheet [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfAmountsRecognizedInTheConsolidatedBalanceSheetAbstract" xlink:to="ray_ScheduleOfAmountsRecognizedInTheConsolidatedBalanceSheetAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeaseLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/totalLabel" xlink:label="us-gaap_OperatingLeaseLiability_lbl" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiability" xlink:to="us-gaap_OperatingLeaseLiability_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsequentEventsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsequentEventsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsAbstract_lbl" xml:lang="en-US">Subsequent Events [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsAbstract" xlink:to="us-gaap_SubsequentEventsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AmendmentDescription" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_AmendmentDescription"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentDescription_lbl" xml:lang="en-US">Amendment Description</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_DocumentType" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_DocumentType"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_DocumentType_lbl" xml:lang="en-US">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityRegistrantName" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityRegistrantName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityRegistrantName_lbl" xml:lang="en-US">Entity Registrant Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityRegistrantName" xlink:to="dei_EntityRegistrantName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityIncorporationStateCountryCode" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityIncorporationStateCountryCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityIncorporationStateCountryCode_lbl" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressPostalZipCode" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressPostalZipCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressPostalZipCode_lbl" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressAddressLine1" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressAddressLine1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressAddressLine1_lbl" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressAddressLine2" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressAddressLine2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressAddressLine2_lbl" xml:lang="en-US">Entity Address, Address Line Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCountry" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressCountry"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCountry_lbl" xml:lang="en-US">Entity Address, Country</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressCityOrTown" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressCityOrTown"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressCityOrTown_lbl" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_CityAreaCode" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_CityAreaCode"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_CityAreaCode_lbl" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_LocalPhoneNumber" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_LocalPhoneNumber"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_LocalPhoneNumber_lbl" xml:lang="en-US">Local Phone Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_ContactPersonnelName" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_ContactPersonnelName"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_ContactPersonnelName_lbl" xml:lang="en-US">Contact Personnel Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityAddressStateOrProvince" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityAddressStateOrProvince"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityAddressStateOrProvince_lbl" xml:lang="en-US">Entity Address, State or Province</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityEmergingGrowthCompany" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityEmergingGrowthCompany"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityEmergingGrowthCompany_lbl" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityExTransitionPeriod" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityExTransitionPeriod"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityExTransitionPeriod_lbl" xml:lang="en-US">Entity Ex Transition Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_EntityCentralIndexKey" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_EntityCentralIndexKey"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_EntityCentralIndexKey_lbl" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_AmendmentFlag" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_AmendmentFlag"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_AmendmentFlag_lbl" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AssetsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsAbstract_lbl" xml:lang="en-US">ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsCurrentAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AssetsCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsCurrentAbstract_lbl" xml:lang="en-US">CURRENT ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsCurrentAbstract" xlink:to="us-gaap_AssetsCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CashAndCashEquivalentsAtCarryingValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl" xml:lang="en-US">Cash and cash equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherReceivables" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherReceivables"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherReceivables_lbl" xml:lang="en-US">Amount due from a director</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherReceivables" xlink:to="us-gaap_OtherReceivables_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_MerchandiseInventoriesNet" xlink:href="ray-20240930.xsd#ray_MerchandiseInventoriesNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_MerchandiseInventoriesNet_lbl" xml:lang="en-US">Merchandise inventories, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MerchandiseInventoriesNet" xlink:to="ray_MerchandiseInventoriesNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_TaxesReceivable" xlink:href="ray-20240930.xsd#ray_TaxesReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_TaxesReceivable_lbl" xml:lang="en-US">Taxes receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_TaxesReceivable" xlink:to="ray_TaxesReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PrepaidExpenseCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PrepaidExpenseCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PrepaidExpenseCurrent_lbl" xml:lang="en-US">Prepayments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseCurrent" xlink:to="us-gaap_PrepaidExpenseCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AssetsNoncurrentAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AssetsNoncurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AssetsNoncurrentAbstract_lbl" xml:lang="en-US">NON-CURRENT ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrentAbstract" xlink:to="us-gaap_AssetsNoncurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredCosts" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredCosts_lbl" xml:lang="en-US">Deferred initial public offering costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredCosts" xlink:to="us-gaap_DeferredCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DepositsAssetsNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DepositsAssetsNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepositsAssetsNoncurrent_lbl" xml:lang="en-US">Long-term deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepositsAssetsNoncurrent" xlink:to="us-gaap_DepositsAssetsNoncurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LiabilitiesAndStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl" xml:lang="en-US">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesAndStockholdersEquityAbstract" xlink:to="us-gaap_LiabilitiesAndStockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LiabilitiesCurrentAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LiabilitiesCurrentAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl" xml:lang="en-US">CURRENT LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsPayableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableCurrent_lbl" xml:lang="en-US">Accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherLiabilitiesCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl" xml:lang="en-US">Accounts payable - related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesCurrent" xlink:to="us-gaap_OtherLiabilitiesCurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OtherLiabilitiesCurrent_lbl0" xml:lang="en-US">Total</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesCurrent" xlink:to="us-gaap_OtherLiabilitiesCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ContractWithCustomerLiabilityCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ContractWithCustomerLiabilityCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ContractWithCustomerLiabilityCurrent_lbl" xml:lang="en-US">Contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiabilityCurrent" xlink:to="us-gaap_ContractWithCustomerLiabilityCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingencies" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommitmentsAndContingencies"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingencies_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityAbstract_lbl" xml:lang="en-US">SHAREHOLDERS&#8217; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockValue" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockValue"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockValue_lbl" xml:lang="en-US">Ordinary Shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockParOrStatedValuePerShare"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockParOrStatedValuePerShare_lbl" xml:lang="en-US">Ordinary Shares, par value (in Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockSharesAuthorized" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockSharesAuthorized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl" xml:lang="en-US">Ordinary Shares, Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockSharesIssued" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockSharesIssued"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl" xml:lang="en-US">Ordinary Shares, shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockSharesIssued_lbl0" xml:lang="en-US">Shares issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesIssued" xlink:to="us-gaap_CommonStockSharesIssued_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AdditionalPaidInCapitalCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl" xml:lang="en-US">Additional paid-in capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RetainedEarningsAccumulatedDeficit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl" xml:lang="en-US">Retained earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_AssetsAbstract0" xlink:href="ray-20240930.xsd#ray_AssetsAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_AssetsAbstract0_lbl" xml:lang="en-US">ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_AssetsAbstract0" xlink:to="ray_AssetsAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_CurrentAssetsAbstract0" xlink:href="ray-20240930.xsd#ray_CurrentAssetsAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_CurrentAssetsAbstract0_lbl" xml:lang="en-US">CURRENT ASSETS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CurrentAssetsAbstract0" xlink:to="ray_CurrentAssetsAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseRightOfUseAsset"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl" xml:lang="en-US">Right-of-use assets &#8211; operating lease</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseRightOfUseAsset" xlink:to="us-gaap_OperatingLeaseRightOfUseAsset_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseRightOfUseAsset_lbl0" xml:lang="en-US">Right-of-use assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseRightOfUseAsset" xlink:to="us-gaap_OperatingLeaseRightOfUseAsset_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_LiabilitiesAndShareholdersEquityAbstract0" xlink:href="ray-20240930.xsd#ray_LiabilitiesAndShareholdersEquityAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_LiabilitiesAndShareholdersEquityAbstract0_lbl" xml:lang="en-US">LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_LiabilitiesAndShareholdersEquityAbstract0" xlink:to="ray_LiabilitiesAndShareholdersEquityAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_CurrentLiabilitiesAbstract0" xlink:href="ray-20240930.xsd#ray_CurrentLiabilitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_CurrentLiabilitiesAbstract0_lbl" xml:lang="en-US">CURRENT LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CurrentLiabilitiesAbstract0" xlink:to="ray_CurrentLiabilitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseLiabilityCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_lbl" xml:lang="en-US">Operating lease obligation, current portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiabilityCurrent" xlink:to="us-gaap_OperatingLeaseLiabilityCurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_lbl0" xml:lang="en-US">Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiabilityCurrent" xlink:to="us-gaap_OperatingLeaseLiabilityCurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherLiabilitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherLiabilitiesAbstract_lbl" xml:lang="en-US">OTHER LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesAbstract" xlink:to="us-gaap_OtherLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseLiabilityNoncurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl" xml:lang="en-US">Operating lease obligation, net of current portion</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:to="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl0" xml:lang="en-US">Non-current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:to="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ShareholdersEquityAbstract0" xlink:href="ray-20240930.xsd#ray_ShareholdersEquityAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ShareholdersEquityAbstract0_lbl" xml:lang="en-US">SHAREHOLDERS&#8217; EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ShareholdersEquityAbstract0" xlink:to="ray_ShareholdersEquityAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenuesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RevenuesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenuesAbstract_lbl" xml:lang="en-US">REVENUE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl" xml:lang="en-US">Sales</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl0" xml:lang="en-US">Disaggregated revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingExpensesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingExpensesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingExpensesAbstract_lbl" xml:lang="en-US">OPERATING EXPENSES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NonoperatingIncomeExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl" xml:lang="en-US">OTHER INCOME (EXPENSE)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InvestmentIncomeInterest" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InvestmentIncomeInterest"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InvestmentIncomeInterest_lbl" xml:lang="en-US">Interest income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ForeignCurrencyTransactionGainLossBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl" xml:lang="en-US">Loss from foreign currency exchange</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract_lbl" xml:lang="en-US">WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_WeightedAverageNumberOfSharesOutstandingBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl" xml:lang="en-US">Basic (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl" xml:lang="en-US">Diluted (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding" xlink:to="us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EarningsPerShareAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareAbstract_lbl" xml:lang="en-US">EARNINGS PER SHARE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareBasic" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EarningsPerShareBasic"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareBasic_lbl" xml:lang="en-US">Basic (in Dollars per share and Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerShareDiluted" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EarningsPerShareDiluted"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerShareDiluted_lbl" xml:lang="en-US">Diluted (in Dollars per share and Dollars per share)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RevenueAbstract" xlink:href="ray-20240930.xsd#ray_RevenueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_RevenueAbstract_lbl" xml:lang="en-US">REVENUE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RevenueAbstract" xlink:to="ray_RevenueAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_OtherIncomeExpenseAbstract" xlink:href="ray-20240930.xsd#ray_OtherIncomeExpenseAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_OtherIncomeExpenseAbstract_lbl" xml:lang="en-US">OTHER INCOME (EXPENSE)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_OtherIncomeExpenseAbstract" xlink:to="ray_OtherIncomeExpenseAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_GovernmentGrants" xlink:href="ray-20240930.xsd#ray_GovernmentGrants"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_GovernmentGrants_lbl" xml:lang="en-US">Government grants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_GovernmentGrants" xlink:to="ray_GovernmentGrants_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OtherNonoperatingIncome" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OtherNonoperatingIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OtherNonoperatingIncome_lbl" xml:lang="en-US">Other income, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncome" xlink:to="us-gaap_OtherNonoperatingIncome_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_WeightedAverageNumberOfOrdinarySharesAbstract" xlink:href="ray-20240930.xsd#ray_WeightedAverageNumberOfOrdinarySharesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_WeightedAverageNumberOfOrdinarySharesAbstract_lbl" xml:lang="en-US">WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_WeightedAverageNumberOfOrdinarySharesAbstract" xlink:to="ray_WeightedAverageNumberOfOrdinarySharesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_EarningsPerShareAbstract0" xlink:href="ray-20240930.xsd#ray_EarningsPerShareAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_EarningsPerShareAbstract0_lbl" xml:lang="en-US">EARNINGS PER SHARE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EarningsPerShareAbstract0" xlink:to="ray_EarningsPerShareAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_UnlabeledAbstract" xlink:href="ray-20240930.xsd#ray_UnlabeledAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_UnlabeledAbstract_lbl" xml:lang="en-US"></label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_UnlabeledAbstract" xlink:to="ray_UnlabeledAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockIssuedDuringPeriodValueNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl" xml:lang="en-US">Initial Public Offering of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockIssuedDuringPeriodSharesNewIssues"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl" xml:lang="en-US">Initial Public Offering of shares (in Shares)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl0" xml:lang="en-US">Offering issued shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_CashFlowsFromOperatingActivitiesAbstract" xlink:href="ray-20240930.xsd#ray_CashFlowsFromOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_CashFlowsFromOperatingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CashFlowsFromOperatingActivitiesAbstract" xlink:to="ray_CashFlowsFromOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract" xlink:to="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DepreciationAndAmortization" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DepreciationAndAmortization"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DepreciationAndAmortization_lbl" xml:lang="en-US">Depreciation of property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_DepreciationAndAmortization_lbl0" xml:lang="en-US">Depreciation expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense_lbl" xml:lang="en-US">Amortization of right-of-use asset</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense" xlink:to="us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInOperatingCapitalAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl" xml:lang="en-US">Changes in operating assets and liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableTrade" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInAccountsPayableTrade"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableTrade_lbl" xml:lang="en-US">Accounts payable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableTrade" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableTrade_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties_lbl" xml:lang="en-US">Accounts payable - related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInAccruedLiabilities"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl" xml:lang="en-US">Accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInContractWithCustomerLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInContractWithCustomerLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl" xml:lang="en-US">Contract liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInContractWithCustomerLiability" xlink:to="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInOperatingLeaseLiability" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInOperatingLeaseLiability"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInOperatingLeaseLiability_lbl" xml:lang="en-US">Operating lease obligation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingLeaseLiability" xlink:to="us-gaap_IncreaseDecreaseInOperatingLeaseLiability_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_lbl" xml:lang="en-US">Taxes payables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable" xlink:to="us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ProceedsFromIssuanceOfCommonStock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl" xml:lang="en-US">Proceed from Initial Public Offering of shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl" xml:lang="en-US">Effect of foreign exchange on cash</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SupplementalCashFlowInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplementary cash flow information</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxesPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxesPaidNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl" xml:lang="en-US">Cash paid for income tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxesPaidNet" xlink:to="us-gaap_IncomeTaxesPaidNet_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InterestPaidNet" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InterestPaidNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InterestPaidNet_lbl" xml:lang="en-US">Cash paid for interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidNet" xlink:to="us-gaap_InterestPaidNet_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_CashFlowsFromOperatingActivitiesAbstract0" xlink:href="ray-20240930.xsd#ray_CashFlowsFromOperatingActivitiesAbstract0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_CashFlowsFromOperatingActivitiesAbstract0_lbl" xml:lang="en-US">Cash flows from operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CashFlowsFromOperatingActivitiesAbstract0" xlink:to="ray_CashFlowsFromOperatingActivitiesAbstract0_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:href="ray-20240930.xsd#ray_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl" xml:lang="en-US">Adjustments to reconcile net income to net cash provided by operating activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:to="ray_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:href="ray-20240930.xsd#ray_ChangesInOperatingAssetsAndLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl" xml:lang="en-US">Changes in operating assets and liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="ray_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_CashFlowsFromInvestingActivitiesAbstract" xlink:href="ray-20240930.xsd#ray_CashFlowsFromInvestingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_CashFlowsFromInvestingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from investing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CashFlowsFromInvestingActivitiesAbstract" xlink:to="ray_CashFlowsFromInvestingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_CashFlowsFromFinancingActivitiesAbstract" xlink:href="ray-20240930.xsd#ray_CashFlowsFromFinancingActivitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_CashFlowsFromFinancingActivitiesAbstract_lbl" xml:lang="en-US">Cash flows from financing activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CashFlowsFromFinancingActivitiesAbstract" xlink:to="ray_CashFlowsFromFinancingActivitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_SupplementaryCashFlowInformationAbstract" xlink:href="ray-20240930.xsd#ray_SupplementaryCashFlowInformationAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_SupplementaryCashFlowInformationAbstract_lbl" xml:lang="en-US">Supplementary cash flow information</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SupplementaryCashFlowInformationAbstract" xlink:to="ray_SupplementaryCashFlowInformationAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_MerchandiseCosts" xlink:href="ray-20240930.xsd#ray_MerchandiseCosts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ray_MerchandiseCosts_lbl" xml:lang="en-US">Merchandise costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MerchandiseCosts" xlink:to="ray_MerchandiseCosts_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SellingGeneralAndAdministrativeExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl" xml:lang="en-US">Selling, general and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpense" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InterestExpenseNonoperating" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InterestExpenseNonoperating"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_InterestExpenseNonoperating_lbl" xml:lang="en-US">Interest expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseNonoperating" xlink:to="us-gaap_InterestExpenseNonoperating_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_Dividends" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_Dividends"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_Dividends_lbl" xml:lang="en-US">Dividends distribution</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Dividends" xlink:to="us-gaap_Dividends_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ForeignCurrencyTransactionGainLossUnrealized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl" xml:lang="en-US">Gain (Loss) from unrealized foreign currency translation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInAccountsReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl" xml:lang="en-US">Accounts receivable, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInInventories" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInInventories"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl" xml:lang="en-US">Merchandise inventories, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInPrepaidExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl" xml:lang="en-US">Prepayments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInIncomeTaxesReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl" xml:lang="en-US">Taxes receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable" xlink:to="us-gaap_IncreaseDecreaseInIncomeTaxesReceivable_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RepaymentOfAmountDueFromADirector" xlink:href="ray-20240930.xsd#ray_RepaymentOfAmountDueFromADirector"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="ray_RepaymentOfAmountDueFromADirector_lbl" xml:lang="en-US">Repayment of amount due from a director</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RepaymentOfAmountDueFromADirector" xlink:to="ray_RepaymentOfAmountDueFromADirector_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsForRepurchaseOfInitialPublicOffering"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering_lbl" xml:lang="en-US">Deferred initial public offering cost</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering" xlink:to="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering_lbl0" xml:lang="en-US">Deferred initial public offering cost	(in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering" xlink:to="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncreaseDecreaseInDepositOtherAssets" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncreaseDecreaseInDepositOtherAssets"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncreaseDecreaseInDepositOtherAssets_lbl" xml:lang="en-US">Long-term deposits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDepositOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInDepositOtherAssets_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsToAcquirePropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl" xml:lang="en-US">Purchase of property and equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PaymentsOfDividends" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PaymentsOfDividends"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_PaymentsOfDividends_lbl" xml:lang="en-US">Dividend payments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividends" xlink:to="us-gaap_PaymentsOfDividends_lbl"/>
    <loc xlink:type="locator" xlink:label="dei_BusinessContactMember" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_BusinessContactMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="dei_BusinessContactMember_lbl" xml:lang="en-US">Business Contact</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_BusinessContactMember" xlink:to="dei_BusinessContactMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyMember_lbl" xml:lang="en-US">Related Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyMember" xlink:to="us-gaap_RelatedPartyMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RelatedPartyMember_lbl0" xml:lang="en-US">Related Party [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyMember" xlink:to="us-gaap_RelatedPartyMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_SalesOfProductsMember" xlink:href="ray-20240930.xsd#ray_SalesOfProductsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_SalesOfProductsMember_lbl" xml:lang="en-US">Sales of products</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SalesOfProductsMember" xlink:to="ray_SalesOfProductsMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ray_SalesOfProductsMember_lbl0" xml:lang="en-US">Sales of products [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SalesOfProductsMember" xlink:to="ray_SalesOfProductsMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_SalesOfToolingMember" xlink:href="ray-20240930.xsd#ray_SalesOfToolingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_SalesOfToolingMember_lbl" xml:lang="en-US">Sales of Tooling</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SalesOfToolingMember" xlink:to="ray_SalesOfToolingMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="ray_SalesOfToolingMember_lbl0" xml:lang="en-US">Sales of tooling [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SalesOfToolingMember" xlink:to="ray_SalesOfToolingMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommonStockMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommonStockMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommonStockMember_lbl" xml:lang="en-US">Ordinary shares</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_CommonStockMember_lbl0" xml:lang="en-US">Common Stock [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AdditionalPaidInCapitalMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AdditionalPaidInCapitalMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl" xml:lang="en-US">Additional Paid-in Capital</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RetainedEarningsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RetainedEarningsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RetainedEarningsMember_lbl" xml:lang="en-US">Retained Earnings</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_ScenarioPreviouslyReportedMember" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_ScenarioPreviouslyReportedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScenarioPreviouslyReportedMember_lbl" xml:lang="en-US">Previously Reported</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScenarioPreviouslyReportedMember" xlink:to="srt_ScenarioPreviouslyReportedMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NatureOfOperations" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NatureOfOperations"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NatureOfOperations_lbl" xml:lang="en-US">NATURE OF BUSINESS AND ORGANIZATION</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NatureOfOperations" xlink:to="us-gaap_NatureOfOperations_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_lbl" xml:lang="en-US">Schedule of Consolidated Financial Statements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock" xlink:to="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner_lbl" xml:lang="en-US">Background</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner" xlink:to="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate" xlink:href="ray-20240930.xsd#ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate_lbl" xml:lang="en-US">Ownership</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate" xlink:to="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_lbl" xml:lang="en-US">Principal activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose" xlink:to="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SignificantAccountingPoliciesTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl" xml:lang="en-US">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock_lbl" xml:lang="en-US">Schedule of Estimated Useful Lives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentUsefulLife"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl" xml:lang="en-US">Estimated useful lives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_PropertyPlantAndEquipmentsEstimatedUsefulLives" xlink:href="ray-20240930.xsd#ray_PropertyPlantAndEquipmentsEstimatedUsefulLives"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_PropertyPlantAndEquipmentsEstimatedUsefulLives_lbl" xml:lang="en-US">Estimated useful lives</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_PropertyPlantAndEquipmentsEstimatedUsefulLives" xlink:to="ray_PropertyPlantAndEquipmentsEstimatedUsefulLives_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RevenueFromContractWithCustomerTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl" xml:lang="en-US">REVENUE</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:to="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DisaggregationOfRevenueTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl" xml:lang="en-US">Schedule of Disaggregation of Revenue</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DisaggregationOfRevenueTableTextBlock" xlink:to="us-gaap_DisaggregationOfRevenueTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_SalesOfProductsAbstract" xlink:href="ray-20240930.xsd#ray_SalesOfProductsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_SalesOfProductsAbstract_lbl" xml:lang="en-US">Sales of products</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SalesOfProductsAbstract" xlink:to="ray_SalesOfProductsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsAndNontradeReceivableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsAndNontradeReceivableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsAndNontradeReceivableTextBlock_lbl" xml:lang="en-US">ACCOUNTS RECEIVABLE, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsAndNontradeReceivableTextBlock" xlink:to="us-gaap_AccountsAndNontradeReceivableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_lbl" xml:lang="en-US">Schedule of Accounts Receivable, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:to="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableGrossCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableGrossCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableGrossCurrent_lbl" xml:lang="en-US">Accounts receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableGrossCurrent" xlink:to="us-gaap_AccountsReceivableGrossCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock_lbl" xml:lang="en-US">Schedule of Accounts Receivable, Net of Allowance for Allowance for Doubtful Accounts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock" xlink:to="us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableNet" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableNet_lbl" xml:lang="en-US">Total accounts receivable, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNet" xlink:to="us-gaap_AccountsReceivableNet_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InventoryDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl" xml:lang="en-US">MERCHANDISE INVENTORIES, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfInventoryCurrentTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl" xml:lang="en-US">Schedule of Merchandise Inventories, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:to="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryGross" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InventoryGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryGross_lbl" xml:lang="en-US">Merchandise inventories, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryGross" xlink:to="us-gaap_InventoryGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryValuationReserves" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InventoryValuationReserves"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryValuationReserves_lbl" xml:lang="en-US">Less: inventory allowances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryValuationReserves" xlink:to="us-gaap_InventoryValuationReserves_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_InventoryNet" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_InventoryNet"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_InventoryNet_lbl" xml:lang="en-US">Merchandise inventories, net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl" xml:lang="en-US">PROPERTY AND EQUIPMENT, NET</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl" xml:lang="en-US">Schedule of Property and Equipment, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentGross" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentGross"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl" xml:lang="en-US">Property and equipment,Subtotal</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl" xml:lang="en-US">ACCRUALS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_lbl" xml:lang="en-US">Schedule of Accruals</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccruedProfessionalFeesCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccruedProfessionalFeesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedProfessionalFeesCurrent_lbl" xml:lang="en-US">Professional fee</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedProfessionalFeesCurrent" xlink:to="us-gaap_AccruedProfessionalFeesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EmployeeRelatedLiabilitiesCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl" xml:lang="en-US">Employee payroll and other benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccruedSalesCommissionCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccruedSalesCommissionCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccruedSalesCommissionCurrent_lbl" xml:lang="en-US">Commission</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedSalesCommissionCurrent" xlink:to="us-gaap_AccruedSalesCommissionCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ContractLiabilityTextBlock" xlink:href="ray-20240930.xsd#ray_ContractLiabilityTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ContractLiabilityTextBlock_lbl" xml:lang="en-US">CONTRACT LIABILITIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ContractLiabilityTextBlock" xlink:to="ray_ContractLiabilityTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl" xml:lang="en-US">Schedule of Movement in Contract Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:to="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ReceiptFromTheClients" xlink:href="ray-20240930.xsd#ray_ReceiptFromTheClients"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ReceiptFromTheClients_lbl" xml:lang="en-US">Receipt from the clients</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ReceiptFromTheClients" xlink:to="ray_ReceiptFromTheClients_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ContractWithCustomerLiabilityRevenueRecognized"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl" xml:lang="en-US">Revenue recognized during the year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:to="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxDisclosureTextBlock_lbl" xml:lang="en-US">TAXES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxDisclosureTextBlock" xlink:to="us-gaap_IncomeTaxDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl" xml:lang="en-US">Schedule of Taxation in the Statement of Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:to="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_HongKongProfitsTaxProvisionForTheYearAbstract" xlink:href="ray-20240930.xsd#ray_HongKongProfitsTaxProvisionForTheYearAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_HongKongProfitsTaxProvisionForTheYearAbstract_lbl" xml:lang="en-US">Hong Kong profits tax provision for the year:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_HongKongProfitsTaxProvisionForTheYearAbstract" xlink:to="ray_HongKongProfitsTaxProvisionForTheYearAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CurrentIncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CurrentIncomeTaxExpenseBenefit" xlink:to="us-gaap_CurrentIncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DeferredIncomeTaxExpenseBenefit"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl" xml:lang="en-US">Deferred</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl" xml:lang="en-US">Schedule of Statutory Rates to Effective Tax Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:to="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeLossAttributableToParent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeLossAttributableToParent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeLossAttributableToParent_lbl" xml:lang="en-US">Income before tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossAttributableToParent" xlink:to="us-gaap_IncomeLossAttributableToParent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Hong Kong statutory income tax rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl0" xml:lang="en-US">Profits tax at a rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl" xml:lang="en-US">Income tax expense computed at statutory rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate" xlink:to="us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ReconcilingItemsAbstract" xlink:href="ray-20240930.xsd#ray_ReconcilingItemsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ReconcilingItemsAbstract_lbl" xml:lang="en-US">Reconciling items:</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ReconcilingItemsAbstract" xlink:to="ray_ReconcilingItemsAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxReconciliationNondeductibleExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxReconciliationNondeductibleExpense_lbl" xml:lang="en-US">Non-deductible items in Hong Kong</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationNondeductibleExpense" xlink:to="us-gaap_IncomeTaxReconciliationNondeductibleExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_IncomeTaxReconciliationNonTaxableExpense" xlink:href="ray-20240930.xsd#ray_IncomeTaxReconciliationNonTaxableExpense"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_IncomeTaxReconciliationNonTaxableExpense_lbl" xml:lang="en-US">Non-taxable items in Hong Kong</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncomeTaxReconciliationNonTaxableExpense" xlink:to="ray_IncomeTaxReconciliationNonTaxableExpense_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes_lbl" xml:lang="en-US">Under provision for prior year</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyTransactionsDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl" xml:lang="en-US">RELATED PARTY BALANCES AND TRANSACTIONS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_lbl" xml:lang="en-US">Schedule of Purchase Products from a Related Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionDescriptionOfTransaction" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyTransactionDescriptionOfTransaction"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionDescriptionOfTransaction_lbl" xml:lang="en-US">Related parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDescriptionOfTransaction" xlink:to="us-gaap_RelatedPartyTransactionDescriptionOfTransaction_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/verboseLabel" xlink:label="us-gaap_RelatedPartyTransactionDescriptionOfTransaction_lbl0" xml:lang="en-US">Nature of transactions</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDescriptionOfTransaction" xlink:to="us-gaap_RelatedPartyTransactionDescriptionOfTransaction_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfAmountDueFromADirectorTableTextBlock" xlink:href="ray-20240930.xsd#ray_ScheduleOfAmountDueFromADirectorTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ScheduleOfAmountDueFromADirectorTableTextBlock_lbl" xml:lang="en-US">Schedule of Amount Due from a Director</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfAmountDueFromADirectorTableTextBlock" xlink:to="ray_ScheduleOfAmountDueFromADirectorTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RelatedPartyTransactionDescriptionOfRelationship" xlink:href="ray-20240930.xsd#ray_RelatedPartyTransactionDescriptionOfRelationship"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_RelatedPartyTransactionDescriptionOfRelationship_lbl" xml:lang="en-US">Relationship</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyTransactionDescriptionOfRelationship" xlink:to="ray_RelatedPartyTransactionDescriptionOfRelationship_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock" xlink:href="ray-20240930.xsd#ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock_lbl" xml:lang="en-US">Schedule of Due to a Related Party Consisted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock" xlink:to="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_NameOfRelatedPartyAbstract" xlink:href="ray-20240930.xsd#ray_NameOfRelatedPartyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_NameOfRelatedPartyAbstract_lbl" xml:lang="en-US">Name of related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_NameOfRelatedPartyAbstract" xlink:to="ray_NameOfRelatedPartyAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock" xlink:href="ray-20240930.xsd#ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock_lbl" xml:lang="en-US">Schedule of Purchase Products from a Related Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock" xlink:to="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_NameOfARelatedPartyAbstract" xlink:href="ray-20240930.xsd#ray_NameOfARelatedPartyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_NameOfARelatedPartyAbstract_lbl" xml:lang="en-US">Name of a related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_NameOfARelatedPartyAbstract" xlink:to="ray_NameOfARelatedPartyAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_lbl" xml:lang="en-US">Total purchase from related party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockholdersEquityNoteDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl" xml:lang="en-US">EQUITY</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommitmentsAndContingenciesDisclosureTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl" xml:lang="en-US">COMMITMENTS AND CONTINGENCIES</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesDisclosureTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_ScheduleOfCondensedBalanceSheetTableTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl" xml:lang="en-US">Schedule of Amounts Recognized in the Consolidated Balance Sheet</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:to="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_OperatingLeaseLiabilitiesAbstract" xlink:href="ray-20240930.xsd#ray_OperatingLeaseLiabilitiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_OperatingLeaseLiabilitiesAbstract_lbl" xml:lang="en-US">Operating lease liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_OperatingLeaseLiabilitiesAbstract" xlink:to="ray_OperatingLeaseLiabilitiesAbstract_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsequentEventsTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsequentEventsTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl" xml:lang="en-US">SUBSEQUENT EVENTS</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl" xml:lang="en-US">Less: allowance for doubtful accounts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl" xml:lang="en-US">Less: accumulated depreciation</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxReconciliationTaxCredits" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxReconciliationTaxCredits"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2009/role/negatedLabel" xlink:label="us-gaap_IncomeTaxReconciliationTaxCredits_lbl" xml:lang="en-US">Tax credit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxCredits" xlink:to="us-gaap_IncomeTaxReconciliationTaxCredits_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RaytechHoldingLimitedMember" xlink:href="ray-20240930.xsd#ray_RaytechHoldingLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_RaytechHoldingLimitedMember_lbl" xml:lang="en-US">Raytech Holding Limited (&#8220;Raytech&#8221;) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RaytechHoldingLimitedMember" xlink:to="ray_RaytechHoldingLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_PureBeautyManufacturingCompanyLimitedMember" xlink:href="ray-20240930.xsd#ray_PureBeautyManufacturingCompanyLimitedMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_PureBeautyManufacturingCompanyLimitedMember_lbl" xml:lang="en-US">Pure Beauty Manufacturing Company Limited (&#8220;Pure Beauty&#8221;) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_PureBeautyManufacturingCompanyLimitedMember" xlink:to="ray_PureBeautyManufacturingCompanyLimitedMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_OfficeEquipmentMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_OfficeEquipmentMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_OfficeEquipmentMember_lbl" xml:lang="en-US">Office equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OfficeEquipmentMember" xlink:to="us-gaap_OfficeEquipmentMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FurnitureAndFixturesMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FurnitureAndFixturesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FurnitureAndFixturesMember_lbl" xml:lang="en-US">Office furniture and fixtures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FurnitureAndFixturesMember" xlink:to="us-gaap_FurnitureAndFixturesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LeaseholdImprovementsMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LeaseholdImprovementsMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LeaseholdImprovementsMember_lbl" xml:lang="en-US">Leasehold improvements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="us-gaap_LeaseholdImprovementsMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_HairStylingSeriesMember" xlink:href="ray-20240930.xsd#ray_HairStylingSeriesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_HairStylingSeriesMember_lbl" xml:lang="en-US">Hair styling series [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_HairStylingSeriesMember" xlink:to="ray_HairStylingSeriesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_TrimmerSeriesMember" xlink:href="ray-20240930.xsd#ray_TrimmerSeriesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_TrimmerSeriesMember_lbl" xml:lang="en-US">Trimmer series [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_TrimmerSeriesMember" xlink:to="ray_TrimmerSeriesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_EyelashCurlerMember" xlink:href="ray-20240930.xsd#ray_EyelashCurlerMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_EyelashCurlerMember_lbl" xml:lang="en-US">Eyelash curler [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EyelashCurlerMember" xlink:to="ray_EyelashCurlerMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_NeckCareSeriesMember" xlink:href="ray-20240930.xsd#ray_NeckCareSeriesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_NeckCareSeriesMember_lbl" xml:lang="en-US">Neck care series [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_NeckCareSeriesMember" xlink:to="ray_NeckCareSeriesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_NailCareSeriesMember" xlink:href="ray-20240930.xsd#ray_NailCareSeriesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_NailCareSeriesMember_lbl" xml:lang="en-US">Nail care series [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_NailCareSeriesMember" xlink:to="ray_NailCareSeriesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_OtherPersonalCareAppliancesMember" xlink:href="ray-20240930.xsd#ray_OtherPersonalCareAppliancesMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_OtherPersonalCareAppliancesMember_lbl" xml:lang="en-US">Other personal care appliances [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_OtherPersonalCareAppliancesMember" xlink:to="ray_OtherPersonalCareAppliancesMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FinancingReceivables1To29DaysPastDueMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinancingReceivables1To29DaysPastDueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivables1To29DaysPastDueMember_lbl" xml:lang="en-US">Within 30 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivables1To29DaysPastDueMember" xlink:to="us-gaap_FinancingReceivables1To29DaysPastDueMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FinancingReceivables30To59DaysPastDueMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FinancingReceivables30To59DaysPastDueMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FinancingReceivables30To59DaysPastDueMember_lbl" xml:lang="en-US">Within 31 to 60 days [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivables30To59DaysPastDueMember" xlink:to="us-gaap_FinancingReceivables30To59DaysPastDueMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_MrChingTimHoiMrChingMember" xlink:href="ray-20240930.xsd#ray_MrChingTimHoiMrChingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_MrChingTimHoiMrChingMember_lbl" xml:lang="en-US">Mr. Ching Tim Hoi (&#8220;Mr. Ching&#8221;) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MrChingTimHoiMrChingMember" xlink:to="ray_MrChingTimHoiMrChingMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember" xlink:href="ray-20240930.xsd#ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember_lbl" xml:lang="en-US">Zhongshan Raytech Electric Appliances Manufacturing Company Limited (&#8220;Zhongshan Raytech&#8221;) [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember" xlink:to="ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_MrChingMember" xlink:href="ray-20240930.xsd#ray_MrChingMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_MrChingMember_lbl" xml:lang="en-US">Mr. Ching [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MrChingMember" xlink:to="ray_MrChingMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ZhongshanRaytechMember" xlink:href="ray-20240930.xsd#ray_ZhongshanRaytechMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ZhongshanRaytechMember_lbl" xml:lang="en-US">Zhongshan Raytech [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ZhongshanRaytechMember" xlink:to="ray_ZhongshanRaytechMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsidiarySaleOfStockAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsidiarySaleOfStockAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiarySaleOfStockAxis_lbl" xml:lang="en-US">Sale of Stock [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiarySaleOfStockAxis" xlink:to="us-gaap_SubsidiarySaleOfStockAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_RangeAxis" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_RangeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeAxis_lbl" xml:lang="en-US">Statistical Measurement [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeAxis" xlink:to="srt_RangeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_MajorCustomersAxis" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_MajorCustomersAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MajorCustomersAxis_lbl" xml:lang="en-US">Customer [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MajorCustomersAxis" xlink:to="srt_MajorCustomersAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ConcentrationRiskByBenchmarkAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl" xml:lang="en-US">Concentration Risk Benchmark [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByBenchmarkAxis" xlink:to="us-gaap_ConcentrationRiskByBenchmarkAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConcentrationRiskByTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ConcentrationRiskByTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskByTypeAxis_lbl" xml:lang="en-US">Concentration Risk Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskByTypeAxis" xlink:to="us-gaap_ConcentrationRiskByTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_StatementGeographicalAxis" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_StatementGeographicalAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_StatementGeographicalAxis_lbl" xml:lang="en-US">Geographical [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_StatementGeographicalAxis" xlink:to="srt_StatementGeographicalAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsequentEventTypeAxis" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsequentEventTypeAxis"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeAxis_lbl" xml:lang="en-US">Subsequent Event Type [Axis]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeAxis" xlink:to="us-gaap_SubsequentEventTypeAxis_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ForeignCurrencyTransactionGainBeforeTax" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ForeignCurrencyTransactionGainBeforeTax"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ForeignCurrencyTransactionGainBeforeTax_lbl" xml:lang="en-US">Convenience translation rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainBeforeTax_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ProvisionForDoubtfulAccounts" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ProvisionForDoubtfulAccounts"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl" xml:lang="en-US">Provision for doubtful accounts (in Dollars)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl"/>
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    <loc xlink:type="locator" xlink:label="ray_InvoiceTerm" xlink:href="ray-20240930.xsd#ray_InvoiceTerm"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_lbl" xml:lang="en-US">Employer contributions, percentage</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:to="us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_EmployeeMonthlyIncome" xlink:href="ray-20240930.xsd#ray_EmployeeMonthlyIncome"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_EmployeeMonthlyIncome_lbl" xml:lang="en-US">Employee monthly income</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_NumberOfReportableSegments" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NumberOfReportableSegments"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NumberOfReportableSegments_lbl" xml:lang="en-US">Number of reporting segment</label>
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    <loc xlink:type="locator" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AllowanceForDoubtfulAccountsReceivable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl" xml:lang="en-US">Allowance for expected credit losses accounts</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockSplits" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StockIssuedDuringPeriodSharesStockSplits"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:to="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_FairValueMeasurementPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl" xml:lang="en-US">Fair value measurement</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LesseeLeasesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LesseeLeasesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_LesseeLeasesPolicyTextBlock_lbl" xml:lang="en-US">Leases</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeasesPolicyTextBlock" xlink:to="us-gaap_LesseeLeasesPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ContractBalancesPolicyTextBlock" xlink:href="ray-20240930.xsd#ray_ContractBalancesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ContractBalancesPolicyTextBlock_lbl" xml:lang="en-US">Contract Balances</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ContractBalancesPolicyTextBlock" xlink:to="ray_ContractBalancesPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RevenueRecognitionPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl" xml:lang="en-US">Revenue Recognition</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_MerchandiseCostsPolicyTextBlock" xlink:href="ray-20240930.xsd#ray_MerchandiseCostsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_MerchandiseCostsPolicyTextBlock_lbl" xml:lang="en-US">Merchandise costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MerchandiseCostsPolicyTextBlock" xlink:to="ray_MerchandiseCostsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_lbl" xml:lang="en-US">Selling, general and administrative expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_EmployeeBenefitsPolicyTextBlock" xlink:href="ray-20240930.xsd#ray_EmployeeBenefitsPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_EmployeeBenefitsPolicyTextBlock_lbl" xml:lang="en-US">Employee Benefit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EmployeeBenefitsPolicyTextBlock" xlink:to="ray_EmployeeBenefitsPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeTaxPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeTaxPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl" xml:lang="en-US">Income taxes</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RelatedPartiesPolicyTextBlock" xlink:href="ray-20240930.xsd#ray_RelatedPartiesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_RelatedPartiesPolicyTextBlock_lbl" xml:lang="en-US">Related Parties</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartiesPolicyTextBlock" xlink:to="ray_RelatedPartiesPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CommitmentsAndContingenciesPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CommitmentsAndContingenciesPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CommitmentsAndContingenciesPolicyTextBlock_lbl" xml:lang="en-US">Commitments and Contingencies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesPolicyTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EarningsPerSharePolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_EarningsPerSharePolicyTextBlock_lbl" xml:lang="en-US">Earnings per share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ConcentrationRiskCreditRisk" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ConcentrationRiskCreditRisk"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_ConcentrationRiskCreditRisk_lbl" xml:lang="en-US">Concentration of Risks</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskCreditRisk" xlink:to="us-gaap_ConcentrationRiskCreditRisk_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SegmentReportingPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl" xml:lang="en-US">Segment reporting</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl" xml:lang="en-US">Recently issued accounting pronouncements</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IPOMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IPOMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_IPOMember_lbl" xml:lang="en-US">IPO [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IPOMember" xlink:to="us-gaap_IPOMember_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_MinimumMember" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_MinimumMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MinimumMember_lbl" xml:lang="en-US">Minimum [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MinimumMember" xlink:to="srt_MinimumMember_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_MaximumMember" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_MaximumMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="srt_MaximumMember_lbl" xml:lang="en-US">Maximum [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_OneCustomerMember" xlink:href="ray-20240930.xsd#ray_OneCustomerMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_OneCustomerMember_lbl" xml:lang="en-US">One Customer [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_OneCustomerMember" xlink:to="ray_OneCustomerMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsReceivableMember_lbl" xml:lang="en-US">Accounts Receivable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableMember" xlink:to="us-gaap_AccountsReceivableMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_CustomerConcentrationRiskMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_CustomerConcentrationRiskMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_CustomerConcentrationRiskMember_lbl" xml:lang="en-US">Customer Concentration Risk [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CustomerConcentrationRiskMember" xlink:to="us-gaap_CustomerConcentrationRiskMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_CustomerTwoMember" xlink:href="ray-20240930.xsd#ray_CustomerTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_CustomerTwoMember_lbl" xml:lang="en-US">Customer Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CustomerTwoMember" xlink:to="ray_CustomerTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SalesRevenueNetMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SalesRevenueNetMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SalesRevenueNetMember_lbl" xml:lang="en-US">Revenue Benchmark [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNetMember" xlink:to="us-gaap_SalesRevenueNetMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ManufacturerOneMember" xlink:href="ray-20240930.xsd#ray_ManufacturerOneMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ManufacturerOneMember_lbl" xml:lang="en-US">Manufacturer One [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ManufacturerOneMember" xlink:to="ray_ManufacturerOneMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsPayableMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsPayableMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsPayableMember_lbl" xml:lang="en-US">Accounts Payable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableMember" xlink:to="us-gaap_AccountsPayableMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_ManufacturerTwoMember" xlink:href="ray-20240930.xsd#ray_ManufacturerTwoMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_ManufacturerTwoMember_lbl" xml:lang="en-US">Manufacturer Two [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ManufacturerTwoMember" xlink:to="ray_ManufacturerTwoMember_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_PurchaseMember" xlink:href="ray-20240930.xsd#ray_PurchaseMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="ray_PurchaseMember_lbl" xml:lang="en-US">Purchase [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_PurchaseMember" xlink:to="ray_PurchaseMember_lbl"/>
    <loc xlink:type="locator" xlink:label="country_HK" xlink:href="https://xbrl.sec.gov/country/2024/country-2024.xsd#country_HK"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="country_HK_lbl" xml:lang="en-US">Hong Kong [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_HK" xlink:to="country_HK_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsequentEventMember" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsequentEventMember"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_SubsequentEventMember_lbl" xml:lang="en-US">Subsequent Event [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyTransactionDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionDomain_lbl" xml:lang="en-US">Related Party Transaction [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionDomain" xlink:to="us-gaap_RelatedPartyTransactionDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementTable_lbl" xml:lang="en-US">Statement [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementTable" xlink:to="us-gaap_StatementTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementLineItems_lbl" xml:lang="en-US">Statement [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementLineItems" xlink:to="us-gaap_StatementLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_ProductsAndServicesDomain" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_ProductsAndServicesDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ProductsAndServicesDomain_lbl" xml:lang="en-US">Product and Service [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ProductsAndServicesDomain" xlink:to="srt_ProductsAndServicesDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_EquityComponentDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_EquityComponentDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EquityComponentDomain_lbl" xml:lang="en-US">Equity Component [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EquityComponentDomain" xlink:to="us-gaap_EquityComponentDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_RestatementDomain" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_RestatementDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RestatementDomain_lbl" xml:lang="en-US">Revision of Prior Period [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RestatementDomain" xlink:to="srt_RestatementDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="srt_OwnershipDomain" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_OwnershipDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_OwnershipDomain_lbl" xml:lang="en-US">Ownership [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_OwnershipDomain" xlink:to="srt_OwnershipDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_lbl" xml:lang="en-US">Subsidiary of LLC or LP [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable" xlink:to="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_lbl" xml:lang="en-US">Schedule of Consolidated Financial Statements [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems" xlink:to="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTypeDomain_lbl" xml:lang="en-US">Long-Lived Tangible Asset [Domain]</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivablesPeriodPastDueDomain" xlink:to="us-gaap_FinancingReceivablesPeriodPastDueDomain_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_AccountsReceivableNetScheduleofAccountsReceivableNetofAllowanceforAllowanceforDoubtfulAccountsDetailsTable" xlink:to="ray_AccountsReceivableNetScheduleofAccountsReceivableNetofAllowanceforAllowanceforDoubtfulAccountsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsReceivableNoncurrentPastDueLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsReceivableNoncurrentPastDueLineItems"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNoncurrentPastDueLineItems" xlink:to="us-gaap_AccountsReceivableNoncurrentPastDueLineItems_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PublicUtilitiesInventoryTypeDomain" xlink:to="us-gaap_PublicUtilitiesInventoryTypeDomain_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryCurrentTable_lbl" xml:lang="en-US">Inventory, Current [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryCurrentTable" xlink:to="us-gaap_InventoryCurrentTable_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryLineItems_lbl" xml:lang="en-US">Schedule of Merchandise Inventories, Net [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryLineItems" xlink:to="us-gaap_InventoryLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfPropertyPlantAndEquipmentTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl" xml:lang="en-US">Property, Plant and Equipment [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable" xlink:to="us-gaap_ScheduleOfPropertyPlantAndEquipmentTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_PropertyPlantAndEquipmentLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl" xml:lang="en-US">Schedule of Property and Equipment, Net [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyDomain_lbl" xml:lang="en-US">Related and Nonrelated Parties [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyDomain" xlink:to="us-gaap_RelatedPartyDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl" xml:lang="en-US">Related Party Transaction [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsByRelatedPartyTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_RelatedPartyTransactionLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_RelatedPartyTransactionLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionLineItems_lbl" xml:lang="en-US">Schedule of Related Parties [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionLineItems" xlink:to="us-gaap_RelatedPartyTransactionLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsTable" xlink:href="ray-20240930.xsd#ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsTable_lbl" xml:lang="en-US">Related Party Balances and Transactions - Schedule of Amount Due from a Director (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsTable" xlink:to="ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsLineItems" xlink:href="ray-20240930.xsd#ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsLineItems_lbl" xml:lang="en-US">Schedule of Amount Due from a Director [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsLineItems" xlink:to="ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsTable" xlink:href="ray-20240930.xsd#ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsTable_lbl" xml:lang="en-US">Related Party Balances and Transactions - Schedule of Due to a Related Party Consisted (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsTable" xlink:to="ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems" xlink:href="ray-20240930.xsd#ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems_lbl" xml:lang="en-US">Schedule of Due to a Related Party Consisted [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems" xlink:to="ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsTable" xlink:href="ray-20240930.xsd#ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsTable_lbl" xml:lang="en-US">Related Party Balances and Transactions - Schedule of Purchase Products from a Related Party (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsTable" xlink:to="ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems" xlink:href="ray-20240930.xsd#ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems_lbl" xml:lang="en-US">Schedule of Purchase Products from a Related Party [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems" xlink:to="ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SaleOfStockNameOfTransactionDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockNameOfTransactionDomain_lbl" xml:lang="en-US">Sale of Stock [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockNameOfTransactionDomain" xlink:to="us-gaap_SaleOfStockNameOfTransactionDomain_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_NameOfMajorCustomerDomain_lbl" xml:lang="en-US">Customer [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_NameOfMajorCustomerDomain" xlink:to="srt_NameOfMajorCustomerDomain_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskTypeDomain_lbl" xml:lang="en-US">Concentration Risk Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskTypeDomain" xlink:to="us-gaap_ConcentrationRiskTypeDomain_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_RangeMember_lbl" xml:lang="en-US">Statistical Measurement [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_RangeMember" xlink:to="srt_RangeMember_lbl"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskBenchmarkDomain_lbl" xml:lang="en-US">Concentration Risk Benchmark [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskBenchmarkDomain" xlink:to="us-gaap_ConcentrationRiskBenchmarkDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsTable" xlink:href="ray-20240930.xsd#ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsTable_lbl" xml:lang="en-US">Summary of Significant Accounting Policies and Practices (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsTable" xlink:to="ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems" xlink:href="ray-20240930.xsd#ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems_lbl" xml:lang="en-US">Summary of Significant Accounting Policies and Practices [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems" xlink:to="ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_AccountsReceivableNetDetailsTable" xlink:href="ray-20240930.xsd#ray_AccountsReceivableNetDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_AccountsReceivableNetDetailsTable_lbl" xml:lang="en-US">Accounts Receivable, Net (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_AccountsReceivableNetDetailsTable" xlink:to="ray_AccountsReceivableNetDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_AccountsNotesAndLoansReceivableLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_AccountsNotesAndLoansReceivableLineItems_lbl" xml:lang="en-US">Accounts Receivable, Net [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsNotesAndLoansReceivableLineItems" xlink:to="us-gaap_AccountsNotesAndLoansReceivableLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_PropertyandEquipmentNetDetailsTable" xlink:href="ray-20240930.xsd#ray_PropertyandEquipmentNetDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_PropertyandEquipmentNetDetailsTable_lbl" xml:lang="en-US">Property and Equipment, Net (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_PropertyandEquipmentNetDetailsTable" xlink:to="ray_PropertyandEquipmentNetDetailsTable_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/terseLabel" xlink:label="us-gaap_PropertyPlantAndEquipmentLineItems_lbl0" xml:lang="en-US">Property and Equipment, Net [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentLineItems" xlink:to="us-gaap_PropertyPlantAndEquipmentLineItems_lbl0"/>
    <loc xlink:type="locator" xlink:label="srt_SegmentGeographicalDomain" xlink:href="https://xbrl.fasb.org/srt/2024/elts/srt-2024.xsd#srt_SegmentGeographicalDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_SegmentGeographicalDomain_lbl" xml:lang="en-US">Geographical [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_SegmentGeographicalDomain" xlink:to="srt_SegmentGeographicalDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_TaxesDetailsTable" xlink:href="ray-20240930.xsd#ray_TaxesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_TaxesDetailsTable_lbl" xml:lang="en-US">Taxes (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_TaxesDetailsTable" xlink:to="ray_TaxesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_ValuationAllowanceLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_ValuationAllowanceLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ValuationAllowanceLineItems_lbl" xml:lang="en-US">Taxes [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ValuationAllowanceLineItems" xlink:to="us-gaap_ValuationAllowanceLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_EquityDetailsTable" xlink:href="ray-20240930.xsd#ray_EquityDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_EquityDetailsTable_lbl" xml:lang="en-US">Equity (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EquityDetailsTable" xlink:to="ray_EquityDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsidiarySaleOfStockLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsidiarySaleOfStockLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiarySaleOfStockLineItems_lbl" xml:lang="en-US">Equity [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiarySaleOfStockLineItems" xlink:to="us-gaap_SubsidiarySaleOfStockLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_CommitmentsandContingenciesDetailsTable" xlink:href="ray-20240930.xsd#ray_CommitmentsandContingenciesDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_CommitmentsandContingenciesDetailsTable_lbl" xml:lang="en-US">Commitments and Contingencies (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CommitmentsandContingenciesDetailsTable" xlink:to="ray_CommitmentsandContingenciesDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_LossContingenciesLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_LossContingenciesLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LossContingenciesLineItems_lbl" xml:lang="en-US">Commitments and Contingencies [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LossContingenciesLineItems" xlink:to="us-gaap_LossContingenciesLineItems_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsequentEventTypeDomain" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsequentEventTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventTypeDomain_lbl" xml:lang="en-US">Subsequent Event Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventTypeDomain" xlink:to="us-gaap_SubsequentEventTypeDomain_lbl"/>
    <loc xlink:type="locator" xlink:label="ray_SubsequentEventsDetailsTable" xlink:href="ray-20240930.xsd#ray_SubsequentEventsDetailsTable"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_SubsequentEventsDetailsTable_lbl" xml:lang="en-US">Subsequent Events (Details) [Table]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SubsequentEventsDetailsTable" xlink:to="ray_SubsequentEventsDetailsTable_lbl"/>
    <loc xlink:type="locator" xlink:label="us-gaap_SubsequentEventLineItems" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_SubsequentEventLineItems"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventLineItems_lbl" xml:lang="en-US">Subsequent Events [Line Items]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventLineItems" xlink:to="us-gaap_SubsequentEventLineItems_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_ContractBalancesPolicyTextBlock_lbl0" xml:lang="en-US">The disclosure of  accounting policy for contract balances.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ContractBalancesPolicyTextBlock" xlink:to="ray_ContractBalancesPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_ContractLiabilityTextBlock_lbl0" xml:lang="en-US">Disclosure of contract with liability.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ContractLiabilityTextBlock" xlink:to="ray_ContractLiabilityTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_ConvenienceTranslationPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for convenience translation.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ConvenienceTranslationPolicyTextBlock" xlink:to="ray_ConvenienceTranslationPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_DeferredInitialPublicOfferingCostsPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for deferred initial public offering costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_DeferredInitialPublicOfferingCostsPolicyTextBlock" xlink:to="ray_DeferredInitialPublicOfferingCostsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_EmployeeBenefitsPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for employee benefits.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EmployeeBenefitsPolicyTextBlock" xlink:to="ray_EmployeeBenefitsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_EmployeeMonthlyIncome_lbl0" xml:lang="en-US">Represent the amount of employee monthly income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EmployeeMonthlyIncome" xlink:to="ray_EmployeeMonthlyIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_GovernmentGrants_lbl0" xml:lang="en-US">The amount of government grants.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_GovernmentGrants" xlink:to="ray_GovernmentGrants_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_IncomeTaxExpensesBenefit_lbl2" xml:lang="en-US">Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncomeTaxExpensesBenefit" xlink:to="ray_IncomeTaxExpensesBenefit_lbl2"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_IncomeTaxReconciliationNonTaxableExpense_lbl0" xml:lang="en-US">Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nontaxable expenses.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncomeTaxReconciliationNonTaxableExpense" xlink:to="ray_IncomeTaxReconciliationNonTaxableExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_IncreaseEmployeeMonthlyIncome_lbl0" xml:lang="en-US">Represent the amount of employee monthly income.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncreaseEmployeeMonthlyIncome" xlink:to="ray_IncreaseEmployeeMonthlyIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_InvoiceTerm_lbl0" xml:lang="en-US">Represents the term of payment of invoice.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_InvoiceTerm" xlink:to="ray_InvoiceTerm_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_LongTermDepositsPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for long-term deposits.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_LongTermDepositsPolicyTextBlock" xlink:to="ray_LongTermDepositsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_MerchandiseCosts_lbl0" xml:lang="en-US">Represent the amount of merchandise costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MerchandiseCosts" xlink:to="ray_MerchandiseCosts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_MerchandiseCostsPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for merchandise costs.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MerchandiseCostsPolicyTextBlock" xlink:to="ray_MerchandiseCostsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_MerchandiseInventoriesNet_lbl0" xml:lang="en-US">Represent the amount of merchandise inventories, net.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MerchandiseInventoriesNet" xlink:to="ray_MerchandiseInventoriesNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_PrepaymentsPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for prepayments.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_PrepaymentsPolicyTextBlock" xlink:to="ray_PrepaymentsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_PropertyPlantAndEquipmentsEstimatedUsefulLives_lbl0" xml:lang="en-US">Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment).</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_PropertyPlantAndEquipmentsEstimatedUsefulLives" xlink:to="ray_PropertyPlantAndEquipmentsEstimatedUsefulLives_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_ReceiptFromTheClients_lbl0" xml:lang="en-US">The amount of receipt from the clients.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ReceiptFromTheClients" xlink:to="ray_ReceiptFromTheClients_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_RelatedPartiesPolicyTextBlock_lbl0" xml:lang="en-US">The disclosure of accounting policy for related parties.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartiesPolicyTextBlock" xlink:to="ray_RelatedPartiesPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_RelatedPartyTransactionDescriptionOfRelationship_lbl0" xml:lang="en-US">Description of the related party transaction description of relationship.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyTransactionDescriptionOfRelationship" xlink:to="ray_RelatedPartyTransactionDescriptionOfRelationship_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_RepaymentOfAmountDueFromADirector_lbl0" xml:lang="en-US">Amount of repayment of amount due from a director.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RepaymentOfAmountDueFromADirector" xlink:to="ray_RepaymentOfAmountDueFromADirector_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_RisksAndUncertaintiesPolicyPolicyTextBlock_lbl0" xml:lang="en-US">Disclosure of accounting policy for risks and uncertainties.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RisksAndUncertaintiesPolicyPolicyTextBlock" xlink:to="ray_RisksAndUncertaintiesPolicyPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_ScheduleOfAmountDueFromADirectorTableTextBlock_lbl0" xml:lang="en-US">Tabular disclosure of amount due from a director.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfAmountDueFromADirectorTableTextBlock" xlink:to="ray_ScheduleOfAmountDueFromADirectorTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock_lbl0" xml:lang="en-US">Tabular disclosure of due to a related party consisted.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock" xlink:to="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock_lbl0" xml:lang="en-US">Tabular disclosure of purchase products from a related party.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock" xlink:to="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate_lbl0" xml:lang="en-US">The number of units or percentage investment held in the subsidiary by the limited liability company or limited partnership.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate" xlink:to="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/documentation" xlink:label="ray_TaxesReceivable_lbl0" xml:lang="en-US">Represent the amount of taxes receivables.</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_TaxesReceivable" xlink:to="ray_TaxesReceivable_lbl0"/>
    <loc xlink:type="locator" xlink:label="dei_AddressTypeDomain" xlink:href="https://xbrl.sec.gov/dei/2024/dei-2024.xsd#dei_AddressTypeDomain"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AddressTypeDomain_lbl" xml:lang="en-US">Address Type [Domain]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AddressTypeDomain" xlink:to="dei_AddressTypeDomain_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityReverseStockSplit_lbl0" xml:lang="en-US">Stockholders&apos; Equity, Reverse Stock Split</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityReverseStockSplit" xlink:to="us-gaap_StockholdersEquityReverseStockSplit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsAbstract_lbl0" xml:lang="en-US">Assets [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsAbstract" xlink:to="us-gaap_AssetsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_lbl0" xml:lang="en-US">Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock" xlink:to="us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareDiluted_lbl0" xml:lang="en-US">Earnings Per Share, Diluted</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareDiluted" xlink:to="us-gaap_EarningsPerShareDiluted_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsMember_lbl0" xml:lang="en-US">Retained Earnings [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsMember" xlink:to="us-gaap_RetainedEarningsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock_lbl1" xml:lang="en-US">Schedule Of Due To ARelated Party Consisted Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock" xlink:to="ray_ScheduleOfDueToARelatedPartyConsistedTableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl0" xml:lang="en-US">Unrealized Gain (Loss), Foreign Currency Transaction, before Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossUnrealized" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossUnrealized_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl0" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasic_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedProfessionalFeesCurrent_lbl0" xml:lang="en-US">Accrued Professional Fees, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccruedProfessionalFeesCurrent" xlink:to="us-gaap_AccruedProfessionalFeesCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="country_HK_lbl0" xml:lang="en-US">HONG KONG</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="country_HK" xlink:to="country_HK_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RelatedPartiesPolicyTextBlock_lbl1" xml:lang="en-US">Related Parties Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartiesPolicyTextBlock" xlink:to="ray_RelatedPartiesPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes_lbl0" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Prior Year Income Taxes, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes" xlink:to="us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_LocalPhoneNumber_lbl0" xml:lang="en-US">Local Phone Number</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_LocalPhoneNumber" xlink:to="dei_LocalPhoneNumber_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfEstimatedUsefulLivesAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfEstimatedUsefulLivesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfEstimatedUsefulLivesAbstract_lbl" xml:lang="en-US">Schedule Of Estimated Useful Lives Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfEstimatedUsefulLivesAbstract" xlink:to="ray_ScheduleOfEstimatedUsefulLivesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RevenueAbstract_lbl0" xml:lang="en-US">Revenue Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RevenueAbstract" xlink:to="ray_RevenueAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl0" xml:lang="en-US">Fair Value Measurement, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FairValueMeasurementPolicyPolicyTextBlock" xlink:to="us-gaap_FairValueMeasurementPolicyPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl1" xml:lang="en-US">Stock Issued During Period, Shares, New Issues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodSharesNewIssues_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InvestmentIncomeInterest_lbl0" xml:lang="en-US">Investment Income, Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InvestmentIncomeInterest" xlink:to="us-gaap_InvestmentIncomeInterest_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AssetsNoncurrent_lbl0" xml:lang="en-US">Assets, Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AssetsNoncurrent" xlink:to="us-gaap_AssetsNoncurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember_lbl0" xml:lang="en-US">Zhongshan Raytech Electric Appliances Manufacturing Company Limited Zhongshan Raytech Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember" xlink:to="ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfRelatedPartiesAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfRelatedPartiesAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfRelatedPartiesAbstract_lbl" xml:lang="en-US">Schedule Of Related Parties Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfRelatedPartiesAbstract" xlink:to="ray_ScheduleOfRelatedPartiesAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpensesAbstract_lbl0" xml:lang="en-US">Operating Expenses [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpensesAbstract" xlink:to="us-gaap_OperatingExpensesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SupplementalCashFlowInformationAbstract_lbl0" xml:lang="en-US">Supplemental Cash Flow Information [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SupplementalCashFlowInformationAbstract" xlink:to="us-gaap_SupplementalCashFlowInformationAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableTrade_lbl0" xml:lang="en-US">Increase (Decrease) in Accounts Payable, Trade</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsPayableTrade" xlink:to="us-gaap_IncreaseDecreaseInAccountsPayableTrade_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityAbstract_lbl0" xml:lang="en-US">Equity, Attributable to Parent [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityAbstract" xlink:to="us-gaap_StockholdersEquityAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PrepaidExpenseCurrent_lbl0" xml:lang="en-US">Prepaid Expense, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PrepaidExpenseCurrent" xlink:to="us-gaap_PrepaidExpenseCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MinimumMember_lbl0" xml:lang="en-US">Minimum [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MinimumMember" xlink:to="srt_MinimumMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesOutstanding_lbl4" xml:lang="en-US">Common Stock, Shares, Outstanding</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesOutstanding" xlink:to="us-gaap_CommonStockSharesOutstanding_lbl4"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_HairStylingSeriesMember_lbl0" xml:lang="en-US">Hair Styling Series Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_HairStylingSeriesMember" xlink:to="ray_HairStylingSeriesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_lbl0" xml:lang="en-US">Selling, General and Administrative Expenses, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock" xlink:to="us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RetainedEarningsAccumulatedDeficit_lbl0" xml:lang="en-US">Retained Earnings (Accumulated Deficit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RetainedEarningsAccumulatedDeficit" xlink:to="us-gaap_RetainedEarningsAccumulatedDeficit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInInvestingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInInvestingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl0" xml:lang="en-US">Payments to Acquire Property, Plant, and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment" xlink:to="us-gaap_PaymentsToAcquirePropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestPaidNet_lbl0" xml:lang="en-US">Interest Paid, Excluding Capitalized Interest, Operating Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestPaidNet" xlink:to="us-gaap_InterestPaidNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_OtherPersonalCareAppliancesMember_lbl0" xml:lang="en-US">Other Personal Care Appliances Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_OtherPersonalCareAppliancesMember" xlink:to="ray_OtherPersonalCareAppliancesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock_lbl0" xml:lang="en-US">Property, Plant, and Equipment and Intangible Assets [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryDisclosureTextBlock_lbl0" xml:lang="en-US">Inventory Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryDisclosureTextBlock" xlink:to="us-gaap_InventoryDisclosureTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentNet_lbl1" xml:lang="en-US">Property, Plant and Equipment, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentNet" xlink:to="us-gaap_PropertyPlantAndEquipmentNet_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_MrChingTimHoiMrChingMember_lbl0" xml:lang="en-US">Mr Ching Tim Hoi Mr Ching Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MrChingTimHoiMrChingMember" xlink:to="ray_MrChingTimHoiMrChingMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl0" xml:lang="en-US">Increase (Decrease) in Accrued Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccruedLiabilities" xlink:to="us-gaap_IncreaseDecreaseInAccruedLiabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_IncreaseEmployeeMonthlyIncome_lbl1" xml:lang="en-US">Increase Employee Monthly Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncreaseEmployeeMonthlyIncome" xlink:to="ray_IncreaseEmployeeMonthlyIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxPolicyTextBlock_lbl0" xml:lang="en-US">Income Tax, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxPolicyTextBlock" xlink:to="us-gaap_IncomeTaxPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_MaximumMember_lbl0" xml:lang="en-US">Maximum [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_MaximumMember" xlink:to="srt_MaximumMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine1_lbl0" xml:lang="en-US">Entity Address, Address Line One</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine1" xlink:to="dei_EntityAddressAddressLine1_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesAuthorized_lbl0" xml:lang="en-US">Common Stock, Shares Authorized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockSharesAuthorized" xlink:to="us-gaap_CommonStockSharesAuthorized_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_OneCustomerMember_lbl0" xml:lang="en-US">One Customer Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_OneCustomerMember" xlink:to="ray_OneCustomerMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityIncorporationStateCountryCode_lbl0" xml:lang="en-US">Entity Incorporation, State or Country Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityIncorporationStateCountryCode" xlink:to="dei_EntityIncorporationStateCountryCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressAddressLine2_lbl0" xml:lang="en-US">Entity Address, Address Line Two</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressAddressLine2" xlink:to="dei_EntityAddressAddressLine2_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate_lbl1" xml:lang="en-US">Subsidiaryof Limited Liability Companyor Limited Partnership Ownership Interest Rate</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate" xlink:to="ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl1" xml:lang="en-US">Operating Lease, Liability, Noncurrent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiabilityNoncurrent" xlink:to="us-gaap_OperatingLeaseLiabilityNoncurrent_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl1" xml:lang="en-US">Revenue from Contract with Customer, Including Assessed Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax" xlink:to="us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_TradeAndOtherAccountsReceivablePolicy_lbl0" xml:lang="en-US">Accounts Receivable [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_TradeAndOtherAccountsReceivablePolicy" xlink:to="us-gaap_TradeAndOtherAccountsReceivablePolicy_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_NeckCareSeriesMember_lbl0" xml:lang="en-US">Neck Care Series Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_NeckCareSeriesMember" xlink:to="ray_NeckCareSeriesMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfConsolidatedFinancialStatementsAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfConsolidatedFinancialStatementsAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfConsolidatedFinancialStatementsAbstract_lbl" xml:lang="en-US">Schedule Of Consolidated Financial Statements Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfConsolidatedFinancialStatementsAbstract" xlink:to="ray_ScheduleOfConsolidatedFinancialStatementsAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskCreditRisk_lbl0" xml:lang="en-US">Concentration Risk, Credit Risk, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ConcentrationRiskCreditRisk" xlink:to="us-gaap_ConcentrationRiskCreditRisk_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl0" xml:lang="en-US">Increase (Decrease) in Operating Capital [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract" xlink:to="us-gaap_IncreaseDecreaseInOperatingCapitalAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalMember_lbl0" xml:lang="en-US">Additional Paid-in Capital [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalMember" xlink:to="us-gaap_AdditionalPaidInCapitalMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RaytechHoldingLimitedMember_lbl0" xml:lang="en-US">Raytech Holding Limited Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ManufacturerTwoMember_lbl0" xml:lang="en-US">Manufacturer Two Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ManufacturerTwoMember" xlink:to="ray_ManufacturerTwoMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_IncomeTaxExpensesBenefit_lbl3" xml:lang="en-US">Income Tax Expenses Benefit</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_IncomeTaxExpensesBenefit" xlink:to="ray_IncomeTaxExpensesBenefit_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Investing Activities [Abstract]</label>
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    <loc xlink:type="locator" xlink:label="ray_ScheduleOfPurchaseProductsFromARelatedPartyAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfPurchaseProductsFromARelatedPartyAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfPurchaseProductsFromARelatedPartyAbstract_lbl" xml:lang="en-US">Schedule Of Purchase Products From ARelated Party Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfPurchaseProductsFromARelatedPartyAbstract" xlink:to="ray_ScheduleOfPurchaseProductsFromARelatedPartyAbstract_lbl"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentDescription" xlink:to="dei_AmendmentDescription_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_ContactPersonnelName_lbl0" xml:lang="en-US">Contact Personnel Name</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_ContactPersonnelName" xlink:to="dei_ContactPersonnelName_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_NameOfRelatedPartyAbstract_lbl0" xml:lang="en-US">Name Of Related Party Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_NameOfRelatedPartyAbstract" xlink:to="ray_NameOfRelatedPartyAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl0" xml:lang="en-US">Contract with Customer, Liability, Revenue Recognized</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiabilityRevenueRecognized" xlink:to="us-gaap_ContractWithCustomerLiabilityRevenueRecognized_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RisksAndUncertaintiesPolicyPolicyTextBlock_lbl1" xml:lang="en-US">Risks And Uncertainties Policy Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RisksAndUncertaintiesPolicyPolicyTextBlock" xlink:to="ray_RisksAndUncertaintiesPolicyPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl0" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepreciationAndAmortization_lbl1" xml:lang="en-US">Depreciation, Depletion and Amortization, Nonproduction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DepreciationAndAmortization" xlink:to="us-gaap_DepreciationAndAmortization_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SignificantAccountingPoliciesTextBlock_lbl0" xml:lang="en-US">Significant Accounting Policies [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SignificantAccountingPoliciesTextBlock" xlink:to="us-gaap_SignificantAccountingPoliciesTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl0" xml:lang="en-US">Segment Reporting, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SegmentReportingPolicyPolicyTextBlock" xlink:to="us-gaap_SegmentReportingPolicyPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl0" xml:lang="en-US">Accounts Payable and Accrued Liabilities Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock" xlink:to="us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl0" xml:lang="en-US">Property, Plant and Equipment, Useful Life</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentUsefulLife" xlink:to="us-gaap_PropertyPlantAndEquipmentUsefulLife_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossAttributableToParent_lbl0" xml:lang="en-US">Income (Loss) Attributable to Parent, before Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossAttributableToParent" xlink:to="us-gaap_IncomeLossAttributableToParent_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfMerchandiseInventoriesNetAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfMerchandiseInventoriesNetAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfMerchandiseInventoriesNetAbstract_lbl" xml:lang="en-US">Schedule Of Merchandise Inventories Net Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfMerchandiseInventoriesNetAbstract" xlink:to="ray_ScheduleOfMerchandiseInventoriesNetAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_OtherIncomeExpenseAbstract_lbl0" xml:lang="en-US">Other Income Expense Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_OtherIncomeExpenseAbstract" xlink:to="ray_OtherIncomeExpenseAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl0" xml:lang="en-US">Related Party Transactions Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionsDisclosureTextBlock" xlink:to="us-gaap_RelatedPartyTransactionsDisclosureTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock_lbl0" xml:lang="en-US">Accounts Receivable, Allowance for Credit Loss [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock" xlink:to="us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Operating Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInOperatingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInOperatingActivities_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfDueToARelatedPartyConsistedAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfDueToARelatedPartyConsistedAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfDueToARelatedPartyConsistedAbstract_lbl" xml:lang="en-US">Schedule Of Due To ARelated Party Consisted Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfDueToARelatedPartyConsistedAbstract" xlink:to="ray_ScheduleOfDueToARelatedPartyConsistedAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_lbl0" xml:lang="en-US">Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent" xlink:to="us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_HongKongProfitsTaxProvisionForTheYearAbstract_lbl0" xml:lang="en-US">Hong Kong Profits Tax Provision For The Year Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_HongKongProfitsTaxProvisionForTheYearAbstract" xlink:to="ray_HongKongProfitsTaxProvisionForTheYearAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_LongTermDepositsPolicyTextBlock_lbl1" xml:lang="en-US">Long Term Deposits Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_LongTermDepositsPolicyTextBlock" xlink:to="ray_LongTermDepositsPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_TaxesReceivable_lbl1" xml:lang="en-US">Taxes Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_TaxesReceivable" xlink:to="ray_TaxesReceivable_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OfficeEquipmentMember_lbl0" xml:lang="en-US">Office Equipment [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OfficeEquipmentMember" xlink:to="us-gaap_OfficeEquipmentMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense_lbl0" xml:lang="en-US">Operating Lease, Right-of-Use Asset, Periodic Reduction</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense" xlink:to="us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquity_lbl3" xml:lang="en-US">Equity, Attributable to Parent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquity" xlink:to="us-gaap_StockholdersEquity_lbl3"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl0" xml:lang="en-US">Revenue from Contract with Customer [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueFromContractWithCustomerTextBlock" xlink:to="us-gaap_RevenueFromContractWithCustomerTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_InvoiceTerm_lbl1" xml:lang="en-US">Invoice Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_InvoiceTerm" xlink:to="ray_InvoiceTerm_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl0" xml:lang="en-US">Property, Plant and Equipment, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FurnitureAndFixturesMember_lbl0" xml:lang="en-US">Furniture and Fixtures [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FurnitureAndFixturesMember" xlink:to="us-gaap_FurnitureAndFixturesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner_lbl0" xml:lang="en-US">Subsidiary of Limited Liability Company or Limited Partnership, Managing Member or General Partner</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner" xlink:to="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsOfDividends_lbl0" xml:lang="en-US">Payments of Dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsOfDividends" xlink:to="us-gaap_PaymentsOfDividends_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl0" xml:lang="en-US">Cash and Cash Equivalents, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsPolicyTextBlock" xlink:to="us-gaap_CashAndCashEquivalentsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl0" xml:lang="en-US">Lessee, Operating Lease, Renewal Term</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeOperatingLeaseRenewalTerm" xlink:to="us-gaap_LesseeOperatingLeaseRenewalTerm_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock_lbl1" xml:lang="en-US">Schedule Of Purchase Products From ARelated Party Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock" xlink:to="ray_ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_UnlabeledAbstract_lbl0" xml:lang="en-US">Unlabeled Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_UnlabeledAbstract" xlink:to="ray_UnlabeledAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingenciesPolicyTextBlock_lbl0" xml:lang="en-US">Commitments and Contingencies, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingenciesPolicyTextBlock" xlink:to="us-gaap_CommitmentsAndContingenciesPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_lbl0" xml:lang="en-US">Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock" xlink:to="us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressPostalZipCode_lbl0" xml:lang="en-US">Entity Address, Postal Zip Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressPostalZipCode" xlink:to="dei_EntityAddressPostalZipCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SalesRevenueNetMember_lbl0" xml:lang="en-US">Revenue Benchmark [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SalesRevenueNetMember" xlink:to="us-gaap_SalesRevenueNetMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl0" xml:lang="en-US">Property, Plant and Equipment Disclosure [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl0" xml:lang="en-US">Deferred Income Tax Expense (Benefit)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_DeferredIncomeTaxExpenseBenefit" xlink:to="us-gaap_DeferredIncomeTaxExpenseBenefit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_CashFlowsFromFinancingActivitiesAbstract_lbl0" xml:lang="en-US">Cash Flows From Financing Activities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CashFlowsFromFinancingActivitiesAbstract" xlink:to="ray_CashFlowsFromFinancingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScenarioPreviouslyReportedMember_lbl0" xml:lang="en-US">Previously Reported [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScenarioPreviouslyReportedMember" xlink:to="srt_ScenarioPreviouslyReportedMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ManufacturerOneMember_lbl0" xml:lang="en-US">Manufacturer One Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ManufacturerOneMember" xlink:to="ray_ManufacturerOneMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ShareholdersEquityAbstract0_lbl0" xml:lang="en-US">Shareholders Equity Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ShareholdersEquityAbstract0" xlink:to="ray_ShareholdersEquityAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl0" xml:lang="en-US">Equity [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteDisclosureTextBlock" xlink:to="us-gaap_StockholdersEquityNoteDisclosureTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationTaxCredits_lbl0" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Tax Credit, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxCredits" xlink:to="us-gaap_IncomeTaxReconciliationTaxCredits_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_BusinessContactMember_lbl0" xml:lang="en-US">Business Contact [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_BusinessContactMember" xlink:to="dei_BusinessContactMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl0" xml:lang="en-US">Property, Plant and Equipment [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentTextBlock" xlink:to="us-gaap_PropertyPlantAndEquipmentTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl0" xml:lang="en-US">Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest" xlink:to="us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MerchandiseInventoriesNet" xlink:to="ray_MerchandiseInventoriesNet_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingExpenses_lbl0" xml:lang="en-US">Operating Expenses</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingExpenses" xlink:to="us-gaap_OperatingExpenses_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfFinancialPositionAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementOfFinancialPositionAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfFinancialPositionAbstract_lbl" xml:lang="en-US">Statement of Financial Position [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfFinancialPositionAbstract" xlink:to="us-gaap_StatementOfFinancialPositionAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl0" xml:lang="en-US">Cash and Cash Equivalents, at Carrying Value</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashAndCashEquivalentsAtCarryingValue" xlink:to="us-gaap_CashAndCashEquivalentsAtCarryingValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ContractBalancesPolicyTextBlock_lbl1" xml:lang="en-US">Contract Balances Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ContractBalancesPolicyTextBlock" xlink:to="ray_ContractBalancesPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_DocumentType_lbl0" xml:lang="en-US">Document Type</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_DocumentType" xlink:to="dei_DocumentType_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ReceiptFromTheClients_lbl1" xml:lang="en-US">Receipt From The Clients</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ReceiptFromTheClients" xlink:to="ray_ReceiptFromTheClients_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl0" xml:lang="en-US">Increase (Decrease) in Accounts Receivable</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInAccountsReceivable" xlink:to="us-gaap_IncreaseDecreaseInAccountsReceivable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl0" xml:lang="en-US">Proceeds from Issuance of Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProceedsFromIssuanceOfCommonStock" xlink:to="us-gaap_ProceedsFromIssuanceOfCommonStock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_lbl0" xml:lang="en-US">Schedule of Related Party Transactions [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock" xlink:to="us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl0" xml:lang="en-US">Condensed Balance Sheet [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="srt_ScheduleOfCondensedBalanceSheetTableTextBlock" xlink:to="srt_ScheduleOfCondensedBalanceSheetTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInDepositOtherAssets_lbl0" xml:lang="en-US">Increase (Decrease) in Deposit Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInDepositOtherAssets" xlink:to="us-gaap_IncreaseDecreaseInDepositOtherAssets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl0" xml:lang="en-US">Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock" xlink:to="us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherNonoperatingIncome_lbl0" xml:lang="en-US">Other Nonoperating Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherNonoperatingIncome" xlink:to="us-gaap_OtherNonoperatingIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NumberOfReportableSegments_lbl0" xml:lang="en-US">Number of Reportable Segments</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NumberOfReportableSegments" xlink:to="us-gaap_NumberOfReportableSegments_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RepaymentOfAmountDueFromADirector_lbl1" xml:lang="en-US">Repayment Of Amount Due From ADirector</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RepaymentOfAmountDueFromADirector" xlink:to="ray_RepaymentOfAmountDueFromADirector_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainBeforeTax_lbl0" xml:lang="en-US">Foreign Currency Transaction Gain, before Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainBeforeTax_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_PurchaseMember_lbl0" xml:lang="en-US">Purchase Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_PurchaseMember" xlink:to="ray_PurchaseMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryNet_lbl0" xml:lang="en-US">Inventory, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryNet" xlink:to="us-gaap_InventoryNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCityOrTown_lbl0" xml:lang="en-US">Entity Address, City or Town</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCityOrTown" xlink:to="dei_EntityAddressCityOrTown_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UseOfEstimates_lbl0" xml:lang="en-US">Use of Estimates, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UseOfEstimates" xlink:to="us-gaap_UseOfEstimates_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommitmentsAndContingencies_lbl0" xml:lang="en-US">Commitments and Contingencies</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommitmentsAndContingencies" xlink:to="us-gaap_CommitmentsAndContingencies_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NonoperatingIncomeExpenseAbstract_lbl0" xml:lang="en-US">Nonoperating Income (Expense) [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NonoperatingIncomeExpenseAbstract" xlink:to="us-gaap_NonoperatingIncomeExpenseAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxesPaidNet_lbl0" xml:lang="en-US">Income Taxes Paid, Net</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxesPaidNet" xlink:to="us-gaap_IncomeTaxesPaidNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockValue_lbl0" xml:lang="en-US">Common Stock, Value, Issued</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockValue" xlink:to="us-gaap_CommonStockValue_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl0" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Percent</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectiveIncomeTaxRateContinuingOperations" xlink:to="us-gaap_EffectiveIncomeTaxRateContinuingOperations_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_CityAreaCode_lbl0" xml:lang="en-US">City Area Code</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_CityAreaCode" xlink:to="dei_CityAreaCode_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_NailCareSeriesMember_lbl0" xml:lang="en-US">Nail Care Series Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_NailCareSeriesMember" xlink:to="ray_NailCareSeriesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_lbl0" xml:lang="en-US">Subsidiary of Limited Liability Company or Limited Partnership, Business Purpose</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose" xlink:to="us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_CashFlowsFromInvestingActivitiesAbstract_lbl0" xml:lang="en-US">Cash Flows From Investing Activities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CashFlowsFromInvestingActivitiesAbstract" xlink:to="ray_CashFlowsFromInvestingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherReceivables_lbl0" xml:lang="en-US">Other Receivables</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherReceivables" xlink:to="us-gaap_OtherReceivables_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl0" xml:lang="en-US">Effect of Exchange Rate on Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents, Continuing Operations</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNet_lbl0" xml:lang="en-US">Accounts Receivable, after Allowance for Credit Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNet" xlink:to="us-gaap_AccountsReceivableNet_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LesseeLeasesPolicyTextBlock_lbl0" xml:lang="en-US">Lessee, Leases [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LesseeLeasesPolicyTextBlock" xlink:to="us-gaap_LesseeLeasesPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract_lbl0" xml:lang="en-US">Weighted Average Number of Shares Outstanding, Basic [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract" xlink:to="us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfAmountDueFromADirectorAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfAmountDueFromADirectorAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfAmountDueFromADirectorAbstract_lbl" xml:lang="en-US">Schedule Of Amount Due From ADirector Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfAmountDueFromADirectorAbstract" xlink:to="ray_ScheduleOfAmountDueFromADirectorAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Dividends_lbl0" xml:lang="en-US">Dividends</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Dividends" xlink:to="us-gaap_Dividends_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryGross_lbl0" xml:lang="en-US">Inventory, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryGross" xlink:to="us-gaap_InventoryGross_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IPOMember_lbl0" xml:lang="en-US">IPO [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IPOMember" xlink:to="us-gaap_IPOMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_SalesOfProductsAbstract_lbl0" xml:lang="en-US">Sales Of Products Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SalesOfProductsAbstract" xlink:to="ray_SalesOfProductsAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl0" xml:lang="en-US">Stock Issued During Period, Value, New Issues</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodValueNewIssues" xlink:to="us-gaap_StockIssuedDuringPeriodValueNewIssues_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementOfStockholdersEquityAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StatementOfStockholdersEquityAbstract_lbl" xml:lang="en-US">Statement of Stockholders&apos; Equity [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StatementOfStockholdersEquityAbstract" xlink:to="us-gaap_StatementOfStockholdersEquityAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInOperatingLeaseLiability_lbl0" xml:lang="en-US">Increase (Decrease) in Operating Lease Liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInOperatingLeaseLiability" xlink:to="us-gaap_IncreaseDecreaseInOperatingLeaseLiability_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_RelatedPartyTransactionDescriptionOfRelationship_lbl1" xml:lang="en-US">Related Party Transaction Description Of Relationship</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_RelatedPartyTransactionDescriptionOfRelationship" xlink:to="ray_RelatedPartyTransactionDescriptionOfRelationship_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1" xml:lang="en-US">Cash, Cash Equivalents, Restricted Cash, and Restricted Cash Equivalents</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents" xlink:to="us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_WeightedAverageNumberOfOrdinarySharesAbstract_lbl0" xml:lang="en-US">Weighted Average Number Of Ordinary Shares Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_WeightedAverageNumberOfOrdinarySharesAbstract" xlink:to="ray_WeightedAverageNumberOfOrdinarySharesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockIssuedDuringPeriodSharesStockSplits_lbl0" xml:lang="en-US">Stock Issued During Period, Shares, Stock Splits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockIssuedDuringPeriodSharesStockSplits" xlink:to="us-gaap_StockIssuedDuringPeriodSharesStockSplits_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_EyelashCurlerMember_lbl0" xml:lang="en-US">Eyelash Curler Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EyelashCurlerMember" xlink:to="ray_EyelashCurlerMember_lbl0"/>
    <loc xlink:type="locator" xlink:label="us-gaap_IncomeStatementAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_IncomeStatementAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeStatementAbstract_lbl" xml:lang="en-US">Income Statement [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeStatementAbstract" xlink:to="us-gaap_IncomeStatementAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_TrimmerSeriesMember_lbl0" xml:lang="en-US">Trimmer Series Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_TrimmerSeriesMember" xlink:to="ray_TrimmerSeriesMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_CustomerTwoMember_lbl0" xml:lang="en-US">Customer Two Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CustomerTwoMember" xlink:to="ray_CustomerTwoMember_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock" xlink:to="us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfAmountDueFromADirectorTableTextBlock_lbl1" xml:lang="en-US">Schedule Of Amount Due From ADirector Table Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfAmountDueFromADirectorTableTextBlock" xlink:to="ray_ScheduleOfAmountDueFromADirectorTableTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareBasic_lbl0" xml:lang="en-US">Earnings Per Share, Basic</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareBasic" xlink:to="us-gaap_EarningsPerShareBasic_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableGrossCurrent_lbl0" xml:lang="en-US">Accounts Receivable, before Allowance for Credit Loss, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableGrossCurrent" xlink:to="us-gaap_AccountsReceivableGrossCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenuesAbstract_lbl0" xml:lang="en-US">Revenues [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenuesAbstract" xlink:to="us-gaap_RevenuesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Assets_lbl0" xml:lang="en-US">Assets</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Assets" xlink:to="us-gaap_Assets_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Liabilities_lbl0" xml:lang="en-US">Liabilities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_Liabilities" xlink:to="us-gaap_Liabilities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_EmployeeMonthlyIncome_lbl1" xml:lang="en-US">Employee Monthly Income</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EmployeeMonthlyIncome" xlink:to="ray_EmployeeMonthlyIncome_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_DeferredInitialPublicOfferingCostsPolicyTextBlock_lbl1" xml:lang="en-US">Deferred Initial Public Offering Costs Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_DeferredInitialPublicOfferingCostsPolicyTextBlock" xlink:to="ray_DeferredInitialPublicOfferingCostsPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableMember_lbl0" xml:lang="en-US">Accounts Receivable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableMember" xlink:to="us-gaap_AccountsReceivableMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressStateOrProvince_lbl0" xml:lang="en-US">Entity Address, State or Province</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressStateOrProvince" xlink:to="dei_EntityAddressStateOrProvince_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventsTextBlock_lbl0" xml:lang="en-US">Subsequent Events [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventsTextBlock" xlink:to="us-gaap_SubsequentEventsTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering_lbl1" xml:lang="en-US">Payments for Repurchase of Initial Public Offering</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering" xlink:to="us-gaap_PaymentsForRepurchaseOfInitialPublicOffering_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl0" xml:lang="en-US">Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock" xlink:to="us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl0" xml:lang="en-US">Changes In Operating Assets And Liabilities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ChangesInOperatingAssetsAndLiabilitiesAbstract" xlink:to="ray_ChangesInOperatingAssetsAndLiabilitiesAbstract_lbl0"/>
    <loc xlink:type="locator" xlink:label="ray_ScheduleOfDisaggregationOfRevenueAbstract" xlink:href="ray-20240930.xsd#ray_ScheduleOfDisaggregationOfRevenueAbstract"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ScheduleOfDisaggregationOfRevenueAbstract_lbl" xml:lang="en-US">Schedule Of Disaggregation Of Revenue Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ScheduleOfDisaggregationOfRevenueAbstract" xlink:to="ray_ScheduleOfDisaggregationOfRevenueAbstract_lbl"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl0" xml:lang="en-US">Adjustments To Reconcile Net Income To Net Cash Provided By Operating Activities Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract" xlink:to="ray_AdjustmentsToReconcileNetIncomeToNetCashProvidedByOperatingActivitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInInventories_lbl0" xml:lang="en-US">Increase (Decrease) in Inventories</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInInventories" xlink:to="us-gaap_IncreaseDecreaseInInventories_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl0" xml:lang="en-US">Accounts Receivable, Allowance for Credit Loss, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl0" xml:lang="en-US">Gain (Loss), Foreign Currency Transaction, before Tax</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax" xlink:to="us-gaap_ForeignCurrencyTransactionGainLossBeforeTax_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdditionalPaidInCapitalCommonStock_lbl0" xml:lang="en-US">Additional Paid in Capital, Common Stock</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AdditionalPaidInCapitalCommonStock" xlink:to="us-gaap_AdditionalPaidInCapitalCommonStock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InventoryPolicyTextBlock_lbl0" xml:lang="en-US">Inventory, Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InventoryPolicyTextBlock" xlink:to="us-gaap_InventoryPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_lbl0" xml:lang="en-US">Schedule of Subsidiary of Limited Liability Company or Limited Partnership, Description [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock" xlink:to="us-gaap_ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_MerchandiseCosts_lbl1" xml:lang="en-US">Merchandise Costs</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MerchandiseCosts" xlink:to="ray_MerchandiseCosts_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_EarningsPerShareAbstract0_lbl0" xml:lang="en-US">Earnings Per Share Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_EarningsPerShareAbstract0" xlink:to="ray_EarningsPerShareAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0" xml:lang="en-US">Net Cash Provided by (Used in) Financing Activities</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_NetCashProvidedByUsedInFinancingActivities" xlink:to="us-gaap_NetCashProvidedByUsedInFinancingActivities_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableCurrent_lbl0" xml:lang="en-US">Accounts Payable, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableCurrent" xlink:to="us-gaap_AccountsPayableCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_lbl0" xml:lang="en-US">Related Party Transaction, Purchases from Related Party</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty" xlink:to="us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_PrepaymentsPolicyTextBlock_lbl1" xml:lang="en-US">Prepayments Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_PrepaymentsPolicyTextBlock" xlink:to="ray_PrepaymentsPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_PropertyPlantAndEquipmentGross_lbl0" xml:lang="en-US">Property, Plant and Equipment, Gross</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_PropertyPlantAndEquipmentGross" xlink:to="us-gaap_PropertyPlantAndEquipmentGross_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl0" xml:lang="en-US">Employee-related Liabilities, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EmployeeRelatedLiabilitiesCurrent" xlink:to="us-gaap_EmployeeRelatedLiabilitiesCurrent_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_InterestExpenseNonoperating_lbl0" xml:lang="en-US">Interest Expense, Nonoperating</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_InterestExpenseNonoperating" xlink:to="us-gaap_InterestExpenseNonoperating_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SubsequentEventMember_lbl0" xml:lang="en-US">Subsequent Event [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SubsequentEventMember" xlink:to="us-gaap_SubsequentEventMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl0" xml:lang="en-US">Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment" xlink:to="us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_AmendmentFlag_lbl0" xml:lang="en-US">Amendment Flag</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_AmendmentFlag" xlink:to="dei_AmendmentFlag_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityAddressCountry_lbl0" xml:lang="en-US">Entity Address, Country</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityAddressCountry" xlink:to="dei_EntityAddressCountry_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ProvisionForDoubtfulAccounts_lbl0" xml:lang="en-US">Accounts Receivable, Credit Loss Expense (Reversal)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ProvisionForDoubtfulAccounts" xlink:to="us-gaap_ProvisionForDoubtfulAccounts_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_FinancingReceivables30To59DaysPastDueMember_lbl0" xml:lang="en-US">Financial Asset, 30 to 59 Days Past Due [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_FinancingReceivables30To59DaysPastDueMember" xlink:to="us-gaap_FinancingReceivables30To59DaysPastDueMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_StockholdersEquityNoteStockSplit_lbl0" xml:lang="en-US">Stockholders&apos; Equity Note, Stock Split</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_StockholdersEquityNoteStockSplit" xlink:to="us-gaap_StockholdersEquityNoteStockSplit_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerLiability_lbl1" xml:lang="en-US">Contract with Customer, Liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiability" xlink:to="us-gaap_ContractWithCustomerLiability_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LeaseholdImprovementsMember_lbl0" xml:lang="en-US">Leasehold Improvements [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LeaseholdImprovementsMember" xlink:to="us-gaap_LeaseholdImprovementsMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_SupplementaryCashFlowInformationAbstract_lbl0" xml:lang="en-US">Supplementary Cash Flow Information Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SupplementaryCashFlowInformationAbstract" xlink:to="ray_SupplementaryCashFlowInformationAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityCentralIndexKey_lbl0" xml:lang="en-US">Entity Central Index Key</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityCentralIndexKey" xlink:to="dei_EntityCentralIndexKey_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_CurrentLiabilitiesAbstract0_lbl0" xml:lang="en-US">Current Liabilities Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CurrentLiabilitiesAbstract0" xlink:to="ray_CurrentLiabilitiesAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl0" xml:lang="en-US">Foreign Currency Transactions and Translations Policy [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock" xlink:to="us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingIncomeLoss_lbl0" xml:lang="en-US">Operating Income (Loss)</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingIncomeLoss" xlink:to="us-gaap_OperatingIncomeLoss_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_SalesOfProductsMember_lbl1" xml:lang="en-US">Sales Of Products Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_SalesOfProductsMember" xlink:to="ray_SalesOfProductsMember_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLiability_lbl0" xml:lang="en-US">Operating Lease, Liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OperatingLeaseLiability" xlink:to="us-gaap_OperatingLeaseLiability_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl0" xml:lang="en-US">Increase (Decrease) in Prepaid Expense</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInPrepaidExpense" xlink:to="us-gaap_IncreaseDecreaseInPrepaidExpense_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl0" xml:lang="en-US">Accounts Receivable, Allowance for Credit Loss</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AllowanceForDoubtfulAccountsReceivable" xlink:to="us-gaap_AllowanceForDoubtfulAccountsReceivable_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_NameOfARelatedPartyAbstract_lbl0" xml:lang="en-US">Name Of ARelated Party Abstract</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_NameOfARelatedPartyAbstract" xlink:to="ray_NameOfARelatedPartyAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SaleOfStockPricePerShare_lbl0" xml:lang="en-US">Sale of Stock, Price Per Share</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_SaleOfStockPricePerShare" xlink:to="us-gaap_SaleOfStockPricePerShare_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockMember" xlink:to="us-gaap_CommonStockMember_lbl1"/>
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    <loc xlink:type="locator" xlink:label="us-gaap_StatementOfCashFlowsAbstract" xlink:href="https://xbrl.fasb.org/us-gaap/2024/elts/us-gaap-2024.xsd#us-gaap_StatementOfCashFlowsAbstract"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OperatingLeaseLiabilityCurrent_lbl1" xml:lang="en-US">Operating Lease, Liability, Current</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ContractLiabilityTextBlock_lbl1" xml:lang="en-US">Contract Liability Text Block</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_LiabilitiesAndShareholdersEquityAbstract0_lbl0" xml:lang="en-US">Liabilities And Shareholders Equity Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_LiabilitiesAndShareholdersEquityAbstract0" xlink:to="ray_LiabilitiesAndShareholdersEquityAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_SellingGeneralAndAdministrativeExpense_lbl0" xml:lang="en-US">Selling, General and Administrative Expense</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_LiabilitiesCurrentAbstract_lbl0" xml:lang="en-US">Liabilities, Current [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_LiabilitiesCurrentAbstract" xlink:to="us-gaap_LiabilitiesCurrentAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_OtherLiabilitiesAbstract_lbl0" xml:lang="en-US">Other Liabilities [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesAbstract" xlink:to="us-gaap_OtherLiabilitiesAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_PureBeautyManufacturingCompanyLimitedMember_lbl0" xml:lang="en-US">Pure Beauty Manufacturing Company Limited Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_PropertyPlantAndEquipmentsEstimatedUsefulLives_lbl1" xml:lang="en-US">Property Plant And Equipments Estimated Useful Lives</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsAndNontradeReceivableTextBlock_lbl0" xml:lang="en-US">Accounts and Nontrade Receivable [Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsAndNontradeReceivableTextBlock" xlink:to="us-gaap_AccountsAndNontradeReceivableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_MrChingMember_lbl0" xml:lang="en-US">Mr Ching Member</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_MrChingMember" xlink:to="ray_MrChingMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl0" xml:lang="en-US">Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock" xlink:to="us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl0" xml:lang="en-US">Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock" xlink:to="us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityExTransitionPeriod_lbl0" xml:lang="en-US">Entity Ex Transition Period</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityExTransitionPeriod" xlink:to="dei_EntityExTransitionPeriod_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl0" xml:lang="en-US">Schedule of Inventory, Current [Table Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ScheduleOfInventoryCurrentTableTextBlock" xlink:to="us-gaap_ScheduleOfInventoryCurrentTableTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_NatureOfOperations_lbl0" xml:lang="en-US">Nature of Operations [Text Block]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_Revenues_lbl1" xml:lang="en-US">Revenues</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_GovernmentGrants_lbl1" xml:lang="en-US">Government Grants</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_GovernmentGrants" xlink:to="ray_GovernmentGrants_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_UnrecognizedTaxBenefits_lbl0" xml:lang="en-US">Unrecognized Tax Benefits</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_UnrecognizedTaxBenefits" xlink:to="us-gaap_UnrecognizedTaxBenefits_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsPayableMember_lbl0" xml:lang="en-US">Accounts Payable [Member]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsPayableMember" xlink:to="us-gaap_AccountsPayableMember_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_AssetsAbstract0_lbl0" xml:lang="en-US">Assets Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_AssetsAbstract0" xlink:to="ray_AssetsAbstract0_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl0" xml:lang="en-US">Increase (Decrease) in Contract with Customer, Liability</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncreaseDecreaseInContractWithCustomerLiability" xlink:to="us-gaap_IncreaseDecreaseInContractWithCustomerLiability_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_SalesOfToolingMember_lbl1" xml:lang="en-US">Sales Of Tooling Member</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_ConvenienceTranslationPolicyTextBlock_lbl1" xml:lang="en-US">Convenience Translation Policy Text Block</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_ConvenienceTranslationPolicyTextBlock" xlink:to="ray_ConvenienceTranslationPolicyTextBlock_lbl1"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ConcentrationRiskPercentage1_lbl0" xml:lang="en-US">Concentration Risk, Percentage</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_EarningsPerShareAbstract_lbl0" xml:lang="en-US">Earnings Per Share [Abstract]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerShareAbstract" xlink:to="us-gaap_EarningsPerShareAbstract_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_RevenueRecognitionPolicyTextBlock_lbl0" xml:lang="en-US">Revenue [Policy Text Block]</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_RevenueRecognitionPolicyTextBlock" xlink:to="us-gaap_RevenueRecognitionPolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_ContractWithCustomerLiabilityCurrent_lbl0" xml:lang="en-US">Contract with Customer, Liability, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_ContractWithCustomerLiabilityCurrent" xlink:to="us-gaap_ContractWithCustomerLiabilityCurrent_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_CommonStockParOrStatedValuePerShare" xlink:to="us-gaap_CommonStockParOrStatedValuePerShare_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_CurrentAssetsAbstract0_lbl0" xml:lang="en-US">Current Assets Abstract0</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="ray_CurrentAssetsAbstract0" xlink:to="ray_CurrentAssetsAbstract0_lbl0"/>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_EarningsPerSharePolicyTextBlock" xlink:to="us-gaap_EarningsPerSharePolicyTextBlock_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CommonStockSharesIssued_lbl1" xml:lang="en-US">Common Stock, Shares, Issued</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncomeTaxReconciliationTaxExemptIncome_lbl0" xml:lang="en-US">Effective Income Tax Rate Reconciliation, Tax Exempt Income, Amount</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_IncomeTaxReconciliationTaxExemptIncome" xlink:to="us-gaap_IncomeTaxReconciliationTaxExemptIncome_lbl0"/>
    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="dei_EntityEmergingGrowthCompany_lbl0" xml:lang="en-US">Entity Emerging Growth Company</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="dei_EntityEmergingGrowthCompany" xlink:to="dei_EntityEmergingGrowthCompany_lbl0"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties_lbl0" xml:lang="en-US">Increase (Decrease) in Accounts Payable, Related Parties</label>
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    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_OtherLiabilitiesCurrent" xlink:to="us-gaap_OtherLiabilitiesCurrent_lbl1"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccountsReceivableNetCurrent_lbl1" xml:lang="en-US">Accounts Receivable, after Allowance for Credit Loss, Current</label>
    <labelArc xlink:type="arc" xlink:arcrole="http://www.xbrl.org/2003/arcrole/concept-label" xlink:from="us-gaap_AccountsReceivableNetCurrent" xlink:to="us-gaap_AccountsReceivableNetCurrent_lbl1"/>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_OperatingLeaseLiabilitiesAbstract_lbl0" xml:lang="en-US">Operating Lease Liabilities Abstract</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedLiabilitiesCurrent_lbl1" xml:lang="en-US">Accrued Liabilities, Current</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_CustomerConcentrationRiskMember_lbl0" xml:lang="en-US">Customer Concentration Risk [Member]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="ray_EmployeeBenefitsPolicyTextBlock_lbl1" xml:lang="en-US">Employee Benefits Policy Text Block</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract_lbl0" xml:lang="en-US">Adjustments to Reconcile Net Income (Loss) to Cash Provided by (Used in) Operating Activities [Abstract]</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_DepositsAssetsNoncurrent_lbl0" xml:lang="en-US">Deposits Assets, Noncurrent</label>
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    <label xlink:type="resource" xlink:role="http://www.xbrl.org/2003/role/label" xlink:label="us-gaap_AccruedSalesCommissionCurrent_lbl0" xml:lang="en-US">Accrued Sales Commission, Current</label>
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</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.DEF
<SEQUENCE>16
<FILENAME>ray-20240930_def.xml
<DESCRIPTION>XBRL DEFINITION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by CompSci Transform (tm) - http://www.compsciresources.com -->
<!-- Created: Wed Jun 11 10:19:47 UTC 2025 -->
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</DOCUMENT>
<DOCUMENT>
<TYPE>EX-101.CAL
<SEQUENCE>17
<FILENAME>ray-20240930_cal.xml
<DESCRIPTION>XBRL CALCULATION FILE
<TEXT>
<XBRL>
<?xml version="1.0" encoding="US-ASCII"?>
<!-- Generated by CompSci Transform (tm) - http://www.compsciresources.com -->
<!-- Created: Wed Jun 11 10:19:47 UTC 2025 -->
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    <us-gaap:NatureOfOperations contextRef="c21" id="ixv-18447">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 1 &#x2014; NATURE OF BUSINESS AND ORGANIZATION&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;Raytech Holding Limited
(the &#x201c;Company&#x201d; or &#x201c;Raytech&#x201d;) is a holding company incorporated on June 24, 2022 under the British Virgin Islands
(&#x201c;BVI&#x201d;) law. The Company has no substantial operations other than holding all of the outstanding share capital of Pure Beauty
Manufacturing Company Limited (&#x201c;Pure Beauty&#x201d;), a Hong Kong Company incorporated on April 15, 2013. The Company, through Pure
Beauty, is engaged in the sourcing and wholesaling of personal care and lifestyle electrical appliances for international brand owners
as our customers. The Company&#x2019;s headquarter is located in Hong Kong, China. All of the Company&#x2019;s business activities are carried
out by Pure Beauty.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;In August 2022 completed
a reorganization of Pure Beauty under common control of its then existing shareholders, who collectively owned all of the equity interests
of Raytech prior to the reorganization. Raytech and Pure Beauty are under common control which results in the consolidation of Pure Beauty
at carrying value. The consolidated financial statements are prepared on the basis as if the reorganization became effective as of the
beginning of the first period presented in the accompanying consolidated financial statements of Raytech.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The consolidated financial statements reflect
the activities of each of the following entities:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: black 1.5pt solid; text-align: left; width: 23%; vertical-align: top"&gt;&lt;b&gt;Name&lt;/b&gt;&lt;/td&gt; &lt;td style="text-align: center; width: 1%; vertical-align: bottom"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 25%; text-align: center"&gt;&lt;b&gt;Background&lt;/b&gt;&lt;/td&gt; &lt;td style="text-align: center; width: 1%; vertical-align: bottom"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 15%; text-align: center"&gt;&lt;b&gt;Ownership&lt;/b&gt;&lt;/td&gt; &lt;td style="text-align: center; width: 1%; vertical-align: bottom"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 34%; text-align: center"&gt;&lt;b&gt;Principal activities&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left; vertical-align: top"&gt;Raytech Holding Limited (&#x201c;Raytech&#x201d;)&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;p style="text-align: left; margin-top: 0; margin-bottom: 0"&gt;&#x25cf; A BVI company&lt;/p&gt; &lt;p style="text-align: left; margin-top: 0; margin-bottom: 0"&gt;&#x25cf; Incorporated on June 24, 2022&#160;&lt;/p&gt;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;&lt;span style="-sec-ix-hidden: hidden-fact-80"&gt;-&lt;/span&gt;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Investment holding&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: White"&gt; &lt;td style="text-align: left; vertical-align: top"&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left; vertical-align: top"&gt;Pure Beauty Manufacturing Company Limited (&#x201c;Pure Beauty&#x201d;)&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#x25cf; A Hong Kong company&lt;/p&gt; &lt;p style="text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt"&gt;&#x25cf; Incorporated on April 15, 2013&lt;/p&gt;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;100% owned by Raytech&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Engaged in the sourcing and wholesaling of personal care electrical appliances&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;</us-gaap:NatureOfOperations>
    <us-gaap:ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock contextRef="c21" id="ixv-18455">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The consolidated financial statements reflect
the activities of each of the following entities:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="border-bottom: black 1.5pt solid; text-align: left; width: 23%; vertical-align: top"&gt;&lt;b&gt;Name&lt;/b&gt;&lt;/td&gt; &lt;td style="text-align: center; width: 1%; vertical-align: bottom"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 25%; text-align: center"&gt;&lt;b&gt;Background&lt;/b&gt;&lt;/td&gt; &lt;td style="text-align: center; width: 1%; vertical-align: bottom"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 15%; text-align: center"&gt;&lt;b&gt;Ownership&lt;/b&gt;&lt;/td&gt; &lt;td style="text-align: center; width: 1%; vertical-align: bottom"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 34%; text-align: center"&gt;&lt;b&gt;Principal activities&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left; vertical-align: top"&gt;Raytech Holding Limited (&#x201c;Raytech&#x201d;)&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;p style="text-align: left; margin-top: 0; margin-bottom: 0"&gt;&#x25cf; A BVI company&lt;/p&gt; &lt;p style="text-align: left; margin-top: 0; margin-bottom: 0"&gt;&#x25cf; Incorporated on June 24, 2022&#160;&lt;/p&gt;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;&lt;span style="-sec-ix-hidden: hidden-fact-80"&gt;-&lt;/span&gt;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Investment holding&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: White"&gt; &lt;td style="text-align: left; vertical-align: top"&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: rgb(204,238,255)"&gt; &lt;td style="text-align: left; vertical-align: top"&gt;Pure Beauty Manufacturing Company Limited (&#x201c;Pure Beauty&#x201d;)&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: left"&gt;&lt;p style="margin-top: 0; margin-bottom: 0"&gt;&#x25cf; A Hong Kong company&lt;/p&gt; &lt;p style="text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt"&gt;&#x25cf; Incorporated on April 15, 2013&lt;/p&gt;&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;100% owned by Raytech&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Engaged in the sourcing and wholesaling of personal care electrical appliances&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;</us-gaap:ScheduleOfSubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipDescriptionTextBlock>
    <us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner contextRef="c61" id="ixv-18475">&#x25cf; A BVI company &#x25cf; Incorporated on June 24, 2022</us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner>
    <us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose contextRef="c61" id="ixv-22457">Investment holding</us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose>
    <us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner contextRef="c62" id="ixv-18495">&#x25cf; A Hong Kong company &#x25cf; Incorporated on April 15, 2013</us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner>
    <ray:SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate contextRef="c62" id="ixv-22458">100% owned by Raytech</ray:SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate>
    <us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose contextRef="c62" id="ixv-22459">Engaged in the sourcing and wholesaling of personal care electrical appliances</us-gaap:SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose>
    <us-gaap:SignificantAccountingPoliciesTextBlock contextRef="c21" id="ixv-18507">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 2 &#x2014; &lt;span style="text-transform: uppercase"&gt;Summary
of Significant Accounting Policies and Practices&lt;/span&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Basis of presentation&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The accompanying consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (&#x201c;U.S.&#160;GAAP&#x201d;)
and applicable rules and regulations of the Securities and Exchange Commission (&#x201c;SEC&#x201d;).&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Principles of consolidation&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The consolidated financial statements include
the financial statements of the Company and its subsidiary. All inter-company transactions have been eliminated upon consolidation.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Use of estimates and assumptions&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The preparation of consolidated financial statements
in conformity with U.S.&#160;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported
amounts of revenues and expenses during the periods presented. Significant estimates required to be made by management include, but are
not limited to, the valuation of accounts receivable, useful lives of property and equipment, the recoverability of long-lived assets
and implicit interest rate of operating leases. Actual results could differ from those estimates.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Risks and uncertainties &lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Economic and political risks&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company&#x2019;s operations are mainly conducted
in Hong Kong. Accordingly, the Company&#x2019;s business, financial condition, and results of operations may be influenced by changes in
the political, economic, and legal environments in Hong Kong.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company&#x2019;s operations in Hong Kong are
subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These
include risks associated with, among others, the political, economic, and legal environment and foreign currency exchange. The Company&#x2019;s
results may be adversely affected by changes in the political and social conditions in Hong Kong, and by changes in governmental policies
with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation,
among other things.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Inflation Risk&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Management monitors changes in price levels. Historically
inflation has not materially impacted the Company&#x2019;s audited consolidated financial statements; however, significant increases in
the price of raw materials and labor that cannot be passed to the Company&#x2019;s customers could adversely impact Company&#x2019;s results
of operations.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;World unrest due to wars and terrorist attacks
have led to further economic disruptions. Mounting inflationary cost pressures and recessionary fears have negatively impacted the global
economy. Since mid-2022, the U.S. Federal Reserve has addressed elevated inflation by increasing interest rates, as inflation remains
elevated. Given current market conditions, the Company may be unable to access the capital markets, and additional capital may only be
available to the Company on terms that could be significantly detrimental to the Company&#x2019;s existing stockholders and to the Company&#x2019;s
business.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Foreign currency translation&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company uses Hong&#160;Kong dollars (&#x201c;HKD&#x201d;)
as its reporting currency. The functional currency of the Company and its subsidiary which is incorporated in Hong Kong is HKD, which
is its respective local currency based on the criteria of ASC 830, &#x201c;Foreign Currency Matters&#x201d;.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Convenience translation&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-81"&gt;Translations of amounts in the consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows from HKD into US$ as of and for the year ended March
31, 2024 are solely for the convenience of the reader and were calculated at the noon buying rate of US$1 = HKD7.8259, as published in
H.10 statistical release of the United&#160;States Federal Reserve Board.&lt;/span&gt; No representation is made that the HKD amounts could have been,
or could be, converted, realized or settled into US$ at such rate or at any other rate.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In the consolidated financial statements of the
Company, transactions in currencies other than the functional currency are measured and recorded in the functional currency using the
exchange rate in effect at the date of the transaction. At the balance sheet date, monetary assets and liabilities that are denominated
in currencies other than the functional currency are translated into the functional currency using the exchange rate at the balance sheet
date. All gains and losses arising from foreign currency transactions are recorded in the consolidated statements of income during the
year in which they occur.&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Cash and cash equivalents mainly represents cash
at bank and demand deposits which have original maturities less than three months and are unrestricted as to withdrawal or use. As of
March&#160;31, 2023 and 2024, the Company had HKD21,&lt;span style="-sec-ix-hidden: hidden-fact-90"&gt;362,580&lt;/span&gt; and HKD35,&lt;span style="-sec-ix-hidden: hidden-fact-91"&gt;885,666&lt;/span&gt; (US$4,585,500) in cash and cash equivalents, respectively.
The Company maintains its bank accounts in Hong Kong.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Accounts receivable, net &lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Accounts receivables are recorded and carried
at the original invoiced amount less an allowance for any potential uncollectible amounts.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company make estimates of expected credit
and collectability trends for the allowance for credit losses and allowance for unbilled receivables based upon our assessment of various
factors, including historical experience, the age of the accounts receivable balances, credit quality of our customers, current economic
conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect our ability to collect
from customers. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated
statements of income. Actual amounts received may differ from management&#x2019;s estimate of credit worthiness and the economic environment.
Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood
of collection is not probable.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Provision for doubtful accounts was &lt;span style="-sec-ix-hidden: hidden-fact-94"&gt;nil&lt;/span&gt; and &lt;span style="-sec-ix-hidden: hidden-fact-95"&gt;nil&lt;/span&gt;
as of March 31, 2023 and 2024, respectively.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Merchandise inventories, net&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Merchandise inventories are stated at the lower
of cost or net realizable value, on a weighted average basis. Costs include mainly the cost of merchandise inventories. Any excess of
the cost over the net realizable value of each item of merchandise inventories is recognized as a provision for diminution in the value
of merchandise inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to sell
products. The Company periodically evaluates merchandise inventories for their net realizable value adjustments and reduces the carrying
value of those merchandise inventories that are obsolete or in excess of the forecasted usage to their estimated net realizable value
based on various factors including aging and expiration dates, as applicable, taking into consideration historical and expected future
product sales. For the years ended March 31, 2023 and 2024, no merchandise inventory reserve was recorded because no slow-moving, obsolete,
or damaged merchandise inventory was identified.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Prepayments&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Prepayments primarily consists of prepaid expenses.
These amounts are refundable and bear no interest. Management reviews its prepayments on a regular basis to determine if the allowance
is adequate and adjusts the allowance when necessary. As of March&#160;31, 2023 and 2024, no allowance was deemed necessary.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Deferred initial public offering (&#x201c;IPO&#x201d;)
costs&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Pursuant to ASC 340-10-S99-1, IPO costs directly
attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction
of additional paid-in capital. These costs include legal fees related to the registration drafting and counsel, consulting fees related
to the registration preparation, the SEC filing and print related costs. During the year ended March 31, 2024, the Company recorded a
charge of &lt;span style="-sec-ix-hidden: hidden-fact-82"&gt;HKD2,075,897&lt;/span&gt; related to the IPO. As of March 31, 2023 and 2024, the accumulated deferred IPO costs were &lt;span style="-sec-ix-hidden: hidden-fact-83"&gt;HKD3,176,871&lt;/span&gt; and HKD5,&lt;span style="-sec-ix-hidden: hidden-fact-92"&gt;252,768&lt;/span&gt;
(US$671,203), respectively.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Long-term deposits&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Long-term deposits are mainly for rent, utilities
and money deposited with certain manufacturers. These amounts are refundable and bear no interest. The long-term deposits are refunded
from manufacturers when the terms and conditions set forth in the agreements have been satisfied.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Property and equipment, net &lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Property and equipment are stated at cost less
accumulated depreciation and impairment if applicable. Depreciation is computed using the straight-line method after consideration of
the estimated useful lives. The estimated useful lives are as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left; padding-bottom: 1.5pt; vertical-align: top"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Useful Life&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="vertical-align: top; width: 70%; text-align: left"&gt;Office equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; width: 29%; text-align: center"&gt;2 years&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="vertical-align: top; text-align: left"&gt;Office furniture and fixtures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: center"&gt;2 years&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="vertical-align: top; text-align: left"&gt;Leasehold improvements&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: center"&gt;lesser of lease term or expected useful life&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The cost and related accumulated depreciation
of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the statements of operations.
Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterment, which are expected
to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent
events and circumstances warrant revised estimates of useful lives.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Impairment for long-lived assets&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Long-lived assets, including property and equipment
and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant
adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not
be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected
to generate and recognizes an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset
plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified,
the Company will reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when
available and appropriate, to comparable market values. As of March 31, 2023 and 2024, &lt;span style="-sec-ix-hidden: hidden-fact-96"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-97"&gt;no&lt;/span&gt;&lt;/span&gt; impairment of long-lived assets was recognized.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Fair value measurement&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The accounting standard regarding fair value of
financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial
instruments held by the Company.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The accounting standards define fair value, establish
a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures.
The three levels are defined as follow:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.25in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in"&gt;&#x25cf;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.25in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in"&gt;&#x25cf;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.25in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in"&gt;&#x25cf;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Financial instruments included in current assets
and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of
the short period of time between the origination of such instruments and their expected realization and their current market rates of
interest.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Leases&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company determines if an arrangement is a
lease at inception. Operating leases are included in operating lease right-of-use (&#x201c;ROU&#x201d;) assets, operating lease liability,
and operating lease liability, non-current in the Company&#x2019;s consolidated balance sheets. ROU assets represent the Company&#x2019;s
right to use an underlying asset for the lease term and lease liabilities represent the Company&#x2019;s obligation to make lease payments
arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease
payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is
reasonably certain that it will exercise that option, if any. As the Company&#x2019;s leases do not provide an implicit rate, the Company
used an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
The Company has elected to adopt the following lease policies in conjunction with the adoption of ASU 2016-02: (i) for leases that have
lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Company elected not
to apply ASC 842 recognition requirements; and (ii) the Company elected to apply the package of practical expedients for existing arrangements
entered into prior to April 1, 2020 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied
to existing leases, and(c) initial direct costs.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Contract Balances&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The timing of revenue recognition may differ from
the timing of invoicing to customers. For certain services, customers are required to pay before the services are delivered. The Company
recognizes a contract asset or a contract liability in the consolidated balance sheets, depending on the relationship between the Company&#x2019;s
performance and the customer&#x2019;s payment.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company classifies its right to consideration
in exchange for services transferred to a customer as either a receivable or a contract asset. A receivable is a right to consideration
that is unconditional as compared to a contract asset which is a right to consideration that is conditional upon factors other than the
passage of time. The Company recognizes accounts receivable in its consolidated balance sheets when it performs a service in advance of
receiving consideration and if it has the unconditional right to receive consideration. The Company did not have any capitalized contract
costs as of March 31, 2023 and 2024.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Contract liabilities are recognized if the Company
receives consideration in advance of performance, which is mainly in relation to emerging and other services. The Company expects to recognize
a significant majority of this balance as revenue over the next 12 months, and the remainder thereafter. As of March 31, 2023 and 2024,
the contract liabilities of the Company amounted to &lt;span style="-sec-ix-hidden: hidden-fact-84"&gt;HKD1,705,854&lt;/span&gt; and HKD1,&lt;span style="-sec-ix-hidden: hidden-fact-93"&gt;008,415&lt;/span&gt; (US$128,856), respectively.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Revenue Recognition&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Revenue from contracts with customers is recognized
using the five-step model defined by ASC Topic 606 requires the Company to (1) identify its contracts with customers, (2) identify its
performance obligations under those contracts, (3) determine the transaction prices of those contracts, (4) allocate the transaction prices
to its performance obligations in those contracts and (5) recognize revenue when each performance obligation under those contracts is
satisfied. Revenue is recognized when promised goods or services are transferred to the customer in an amount that reflects the consideration
expected in exchange for those goods or services.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Under ASC 606, revenue is recognized when control
of promised goods or services is transferred to the Company&#x2019;s customers in an amount of consideration to which an entity expects
to be entitled to in exchange for those goods or services. Control is the ability to direct the use of and obtain substantially all of
the remaining benefits from the specified goods and services.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company currently generates its revenue through
sourcing and wholesaling of Japanese beauty products, as well as personal care products and other products, through distribution network
to Japan market. Currently, the Company sells its products through sourcing and wholesale customers. The Company sells goods under Free
On Board (&#x201c;FOB&#x201d;) shipping point term, and revenue is recognized when product is loaded on the ships and control is deemed
as transferred. Typical payment terms set forth in the invoice are within 30 to 120 days.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Tooling revenue is earned from manufacturing multiple
tools, molds and assembly equipment as part of a tooling program for a customer. Given that the Company is providing a significant service
of producing highly interdependent component parts of the tooling program, each component does not generate standalone values. It must
be a completed mold so the customer can benefit from the purchase. Based on the arrangement with the customer, the Company recognizes
revenue at a point in time. In such cases, the Company recognizes revenue at the evidence transfer of control.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company is the principal for the majority
of its transactions and recognizes revenue on a gross basis. The Company is the principal when it has control of the merchandise before
it is transferred to customers, which generally is established when the Company is primarily responsible for merchandising decisions,
maintains the relationship with customer, and has pricing discretion.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Merchandise costs&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Cost of sales of beauty products, personal care
products and other products, which are directly related to revenue-generating transactions, primarily consist of cost of purchasing of
products.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Selling, general and administrative expenses&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Selling, general and administrative expenses consist
primarily of motor vehicle running expenses, travelling and entertainment and general administrative expenses such as of staff costs,
rental expenses, depreciation, legal and professional fees and other miscellaneous administrative expenses.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Employee Benefit&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Hong Kong Employment Ordinance (&#x201c;The Ordinance&#x201d;)
requires an employee employed under a continuous employment contract is entitled to sickness allowance if (1) the sick leave taken is
not less than four consecutive days; (2) the sick leave take is supported by an appropriate medical certificate; and (3) the employee
has accumulated sufficient number of paid sickness days. The daily rate of sickness allowance is a sum equivalent to four-fifths of the
average daily wages earned by an employee in the 12-month period preceding the first sickness day.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Ordinance also requires an employee is entitled
to 12 statutory holidays regardless of his or her length of services. Holiday pay should be paid to the employee whose continuous employment
contract is not less than three months immediately preceding a statutory holiday is entitled to the holiday pay.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;An employee is entitled to a paid annual leave
after having been employed under a continuous employment contract for every 12 months. An employee&#x2019;s paid annual leave increases
progressively from 7 days to a maximum of 14 days in accordance with his or her length of employment.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Under Hong Kong Mandatory Provident Fund Schemes
Ordinance, an employer shall enroll their regular employees in Mandatory Provident Fund Schemes. Regular employees are those who are at
between 18 and 65 years of age and have been employed for consecutive 60 days or more. An employer is required to make regular mandatory
contributions of at least 5% of the employee&#x2019;s monthly income between &lt;span style="-sec-ix-hidden: hidden-fact-88"&gt;HKD7,000&lt;/span&gt; and &lt;span style="-sec-ix-hidden: hidden-fact-85"&gt;HKD30,000&lt;/span&gt; and &lt;span style="-sec-ix-hidden: hidden-fact-89"&gt;HKD1,500&lt;/span&gt; of the employee&#x2019;s
monthly income over &lt;span style="-sec-ix-hidden: hidden-fact-86"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-87"&gt;HKD30,000&lt;/span&gt;&lt;/span&gt;.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Income taxes&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Raytech is not subject to tax on income or capital
gains under the current laws of the British Virgin Islands. In addition, upon payments of dividends by Raytech and the Company&#x2019;s
subsidiary in Hong&#160;Kong, Pure Beauty to the Company&#x2019;s shareholders, no British Virgin Islands withholding tax will be imposed.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Pure Beauty is incorporated in and carry trade
and business in Hong&#160;Kong and is subject to Hong&#160;Kong profits tax under Inland Revenue Department Ordinance.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The charge for taxation is based on actual results
for the year as adjusted for items that are non-assessable&#160;or disallowed; and it is calculated using tax rates that have been enacted
or substantively enacted by the balance sheet date. The Group is not currently subject to tax in the British Virgin Islands.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Deferred income taxes are recognized when temporary
differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the&#160;years in which
those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to
reduce deferred tax assets to the amount expected to be realized.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;An uncertain tax position is recognized as a benefit
only if it is &#x201c;more likely than not&#x201d; that the tax position would be sustained in a tax examination. The amount recognized
is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the
&#x201c;more likely than not&#x201d; test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income
tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been
incurred during the&#160;years ended March&#160;31, 2022, 2023 and 2024.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Related parties&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject
to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Commitments and Contingencies&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In the normal course of business, the Company
is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters,
such as government investigations and tax matters. The Company recognizes a liability for such a contingency if it determines it is probable
that a loss has occurred, and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments
including historical and the specific facts and circumstances of each matter.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Earnings per share&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company computes earnings per share (&#x201c;EPS&#x201d;)
in accordance with ASC&#160;260, &#x201c;Earnings per Share&#x201d;. ASC&#160;260 requires companies to present basic and diluted EPS.&#160;Basic
EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive
effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been
converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive
effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.&#160;For
the&#160;years ended March&#160;31, 2022, 2023 and 2024, there were no dilutive shares.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"&gt;&lt;span style="text-decoration:underline"&gt;Concentration of Risks&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;Concentration of credit
risk&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Financial instruments that potentially expose
the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company places its cash with financial
institutions with high credit ratings and quality.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Accounts receivable primarily comprise of amounts
receivable from the service customers. To reduce credit risk, the Company performs ongoing credit evaluations of the financial condition
of these service customers. The Company establishes a provision for doubtful accounts based upon estimates, factors surrounding the credit
risk of specific service customers and other information.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;Concentration of customers&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;As of March 31, 2022 and 2023, one major customer,
who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for 96.8% and 99.6% of the
Company&#x2019;s total accounts receivable respectively. As of March 31, 2024, two customers, who are distributors represent and sell brands
of well-known manufactures from Japan, the U.S., UK, Europe and Australia accounted for 72.1% and 27.9% of the Company&#x2019;s total accounts
receivable respectively.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;For the years ended March 31, 2022 and 2023, one
major customer, who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for 97.8% and
91.3% of the Company&#x2019;s total revenues respectively. For the year ended March 31, 2024, two major customers, who are distributors
represent and sell brands of well-known manufactures from Japan, the U.S. and Europe, accounted for 74.1% and 16.5% of the Company&#x2019;s
total revenues respectively.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Concentration of manufacturers&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;As of March 31, 2022, two manufacturers accounted
for 82.6% and 15.2% of the total balance of accounts payable respectively. As of March&#160;31, 2023, one manufacturer accounted for 92.3%
of the total balance of accounts payable. As of March&#160;31, 2024, one manufacturer accounted for 97.1% of the total balance of accounts
payable. The manufacturer is a related party, which was disclosed in the Note 10.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;For the year ended March 31, 2022, two manufacturers
accounted for 77.3% and 22.3% of our total purchases, respectively. For the year ended March&#160;31, 2023, two manufacturers accounted
for 83.1% and 10.4% of our total purchases respectively. For the year ended March&#160;31, 2024, one manufacturer accounted for 88.5 %
of our total purchases. The manufacturer is a related party, which was disclosed in the Note 10.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Segment reporting&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;ASC 280, &#x201c;Segment Reporting&#x201d;, establishes
standards for reporting information about operating segments on a basis consistent with the Company&#x2019;s internal organizational structure
as well as information about geographical areas, business segments and major customers in consolidated financial statements for detailing
the Company&#x2019;s business segments. Based on the criteria established by ASC 280, the Company&#x2019;s chief operating decision maker
(&#x201c;CODM&#x201d;) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about
allocating resources and assessing performance of the Company. As a whole and hence, the Company has only one reportable segment. The
Company does not distinguish between markets or segments for the purpose of internal reporting. As the Company&#x2019;s long-lived assets
are substantially located in Hong Kong, no geographical segments are presented.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Recently issued accounting pronouncements&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company considers the applicability and impact
of all accounting standards updates (&#x201c;ASUs&#x201d;). Management periodically reviews new accounting standards that are issued. Under
the Jumpstart Our Business Startups Act of 2012, as amended (the &#x201c;JOBS Act&#x201d;), the Company meets the definition of an emerging
growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays
the adoption of these accounting standards until they would apply to private companies.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;On December 18, 2019, the FASB issued ASU No.
2019-12, Income taxes (Topic 740), Simplifying the Accounting for Income Taxes. This guidance amends ASC Topic 740 and addresses several
aspects including 1) evaluation of step-up tax basis of goodwill when there is not a business combination, 2) policy election to not allocate
consolidated taxes on a separate entity basis to entities not subject to income tax, 3) accounting for tax law changes or rates during
interim periods, 4) ownership changes from equity method investment to subsidiary or vice versa, 5) elimination of exception to intrapetrous
allocation when there is gain in discontinued operations and a loss from continuing operations, and 6) treatment of franchise taxes that
are partially based on income. The amendments in this Update are effective for the Company for fiscal years beginning after December 15,
2021, and interim periods within fiscal years beginning after December 15, 2022. The Company is evaluating the impact of this guidance
on its consolidated financial statements and related disclosures.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In October 2020, the FASB issued ASU 2020-08,
&#x201c;Codification Improvements to Subtopic 310-20, Receivables&#x2014;Nonrefundable Fees and Other Costs&#x201d;. The amendments in this
Update represent changes to clarify the Codification. The amendments make the Codification easier to understand and easier to apply by
eliminating inconsistencies and providing clarifications. ASU 2020-08 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022. All entities should apply the amendments in this
Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities.
These amendments do not change the effective dates for Update 2017-08. The Company is currently evaluating the impact of this new standard
on the Company&#x2019;s consolidated financial statements and related disclosures.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In October 2020, the FASB issued ASU 2020-10,
&#x201c;Codification Improvements&#x201d;. The amendments in this Update represent changes to clarify the Codification or correct unintended
application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative
cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities
within the scope of the affected accounting guidance. ASU 2020-10 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022.The amendments in this Update should be applied retrospectively.
The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In October 2021, the FASB issued ASU 2021-08,
Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires
entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09,
Revenue from Contracts with Customers (Topic 606). The update will generally result in an entity recognizing contract assets and contract
liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value.
The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted.
This standard is effective for the Company on January 1, 2023 and the Company does not expect a significant impact to the consolidated
financial statements upon adoption. However, the ultimate impact is dependent upon the size and frequency of future acquisitions.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company does not believe other recently issued
but not yet effective accounting standards, if currently adopted, would have a material effect on the Company&#x2019;s consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows.&lt;/p&gt;</us-gaap:SignificantAccountingPoliciesTextBlock>
    <us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock contextRef="c21" id="ixv-18512">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Basis of presentation&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The accompanying consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (&#x201c;U.S.&#160;GAAP&#x201d;)
and applicable rules and regulations of the Securities and Exchange Commission (&#x201c;SEC&#x201d;).&lt;/p&gt;</us-gaap:BasisOfPresentationAndSignificantAccountingPoliciesTextBlock>
    <us-gaap:ConsolidationPolicyTextBlock contextRef="c21" id="ixv-18519">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Principles of consolidation&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The consolidated financial statements include
the financial statements of the Company and its subsidiary. All inter-company transactions have been eliminated upon consolidation.&lt;/p&gt;</us-gaap:ConsolidationPolicyTextBlock>
    <us-gaap:UseOfEstimates contextRef="c21" id="ixv-18526">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Use of estimates and assumptions&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The preparation of consolidated financial statements
in conformity with U.S.&#160;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported
amounts of revenues and expenses during the periods presented. Significant estimates required to be made by management include, but are
not limited to, the valuation of accounts receivable, useful lives of property and equipment, the recoverability of long-lived assets
and implicit interest rate of operating leases. Actual results could differ from those estimates.&lt;/p&gt;</us-gaap:UseOfEstimates>
    <ray:RisksAndUncertaintiesPolicyPolicyTextBlock contextRef="c21" id="ixv-18548">Risks and uncertainties Economic and political risksThe Company&#x2019;s operations are mainly conducted
in Hong Kong. Accordingly, the Company&#x2019;s business, financial condition, and results of operations may be influenced by changes in
the political, economic, and legal environments in Hong Kong.The Company&#x2019;s operations in Hong Kong are
subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These
include risks associated with, among others, the political, economic, and legal environment and foreign currency exchange. The Company&#x2019;s
results may be adversely affected by changes in the political and social conditions in Hong Kong, and by changes in governmental policies
with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation,
among other things.Inflation RiskManagement monitors changes in price levels. Historically
inflation has not materially impacted the Company&#x2019;s audited consolidated financial statements; however, significant increases in
the price of raw materials and labor that cannot be passed to the Company&#x2019;s customers could adversely impact Company&#x2019;s results
of operations.World unrest due to wars and terrorist attacks
have led to further economic disruptions. Mounting inflationary cost pressures and recessionary fears have negatively impacted the global
economy. Since mid-2022, the U.S. Federal Reserve has addressed elevated inflation by increasing interest rates, as inflation remains
elevated. Given current market conditions, the Company may be unable to access the capital markets, and additional capital may only be
available to the Company on terms that could be significantly detrimental to the Company&#x2019;s existing stockholders and to the Company&#x2019;s
business.</ray:RisksAndUncertaintiesPolicyPolicyTextBlock>
    <us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock contextRef="c21" id="ixv-18570">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Foreign currency translation&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company uses Hong&#160;Kong dollars (&#x201c;HKD&#x201d;)
as its reporting currency. The functional currency of the Company and its subsidiary which is incorporated in Hong Kong is HKD, which
is its respective local currency based on the criteria of ASC 830, &#x201c;Foreign Currency Matters&#x201d;.&lt;/p&gt;</us-gaap:ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock>
    <ray:ConvenienceTranslationPolicyTextBlock contextRef="c21" id="ixv-18577">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Convenience translation&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-81"&gt;Translations of amounts in the consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows from HKD into US$ as of and for the year ended March
31, 2024 are solely for the convenience of the reader and were calculated at the noon buying rate of US$1 = HKD7.8259, as published in
H.10 statistical release of the United&#160;States Federal Reserve Board.&lt;/span&gt; No representation is made that the HKD amounts could have been,
or could be, converted, realized or settled into US$ at such rate or at any other rate.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In the consolidated financial statements of the
Company, transactions in currencies other than the functional currency are measured and recorded in the functional currency using the
exchange rate in effect at the date of the transaction. At the balance sheet date, monetary assets and liabilities that are denominated
in currencies other than the functional currency are translated into the functional currency using the exchange rate at the balance sheet
date. All gains and losses arising from foreign currency transactions are recorded in the consolidated statements of income during the
year in which they occur.&#160;&lt;/p&gt;</ray:ConvenienceTranslationPolicyTextBlock>
    <us-gaap:ForeignCurrencyTransactionGainBeforeTax contextRef="c21" decimals="0" id="ixv-22460" unitRef="usd">1</us-gaap:ForeignCurrencyTransactionGainBeforeTax>
    <us-gaap:CashAndCashEquivalentsPolicyTextBlock contextRef="c21" id="ixv-18588">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Cash and cash equivalents&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Cash and cash equivalents mainly represents cash
at bank and demand deposits which have original maturities less than three months and are unrestricted as to withdrawal or use. As of
March&#160;31, 2023 and 2024, the Company had HKD21,&lt;span style="-sec-ix-hidden: hidden-fact-90"&gt;362,580&lt;/span&gt; and HKD35,&lt;span style="-sec-ix-hidden: hidden-fact-91"&gt;885,666&lt;/span&gt; (US$4,585,500) in cash and cash equivalents, respectively.
The Company maintains its bank accounts in Hong Kong.&lt;/p&gt;</us-gaap:CashAndCashEquivalentsPolicyTextBlock>
    <us-gaap:CashAndCashEquivalentsAtCarryingValue contextRef="c2" decimals="0" id="ixv-22461" unitRef="usd">4585500</us-gaap:CashAndCashEquivalentsAtCarryingValue>
    <us-gaap:TradeAndOtherAccountsReceivablePolicy contextRef="c21" id="ixv-18597">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Accounts receivable, net &lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Accounts receivables are recorded and carried
at the original invoiced amount less an allowance for any potential uncollectible amounts.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company make estimates of expected credit
and collectability trends for the allowance for credit losses and allowance for unbilled receivables based upon our assessment of various
factors, including historical experience, the age of the accounts receivable balances, credit quality of our customers, current economic
conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect our ability to collect
from customers. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated
statements of income. Actual amounts received may differ from management&#x2019;s estimate of credit worthiness and the economic environment.
Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood
of collection is not probable.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Provision for doubtful accounts was &lt;span style="-sec-ix-hidden: hidden-fact-94"&gt;nil&lt;/span&gt; and &lt;span style="-sec-ix-hidden: hidden-fact-95"&gt;nil&lt;/span&gt;
as of March 31, 2023 and 2024, respectively.&lt;/p&gt;</us-gaap:TradeAndOtherAccountsReceivablePolicy>
    <us-gaap:InventoryPolicyTextBlock contextRef="c21" id="ixv-18627">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Merchandise inventories, net&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Merchandise inventories are stated at the lower
of cost or net realizable value, on a weighted average basis. Costs include mainly the cost of merchandise inventories. Any excess of
the cost over the net realizable value of each item of merchandise inventories is recognized as a provision for diminution in the value
of merchandise inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to sell
products. The Company periodically evaluates merchandise inventories for their net realizable value adjustments and reduces the carrying
value of those merchandise inventories that are obsolete or in excess of the forecasted usage to their estimated net realizable value
based on various factors including aging and expiration dates, as applicable, taking into consideration historical and expected future
product sales. For the years ended March 31, 2023 and 2024, no merchandise inventory reserve was recorded because no slow-moving, obsolete,
or damaged merchandise inventory was identified.&lt;/p&gt;</us-gaap:InventoryPolicyTextBlock>
    <ray:PrepaymentsPolicyTextBlock contextRef="c21" id="ixv-18634">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Prepayments&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Prepayments primarily consists of prepaid expenses.
These amounts are refundable and bear no interest. Management reviews its prepayments on a regular basis to determine if the allowance
is adequate and adjusts the allowance when necessary. As of March&#160;31, 2023 and 2024, no allowance was deemed necessary.&lt;/p&gt;</ray:PrepaymentsPolicyTextBlock>
    <ray:DeferredInitialPublicOfferingCostsPolicyTextBlock contextRef="c21" id="ixv-18641">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Deferred initial public offering (&#x201c;IPO&#x201d;)
costs&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Pursuant to ASC 340-10-S99-1, IPO costs directly
attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction
of additional paid-in capital. These costs include legal fees related to the registration drafting and counsel, consulting fees related
to the registration preparation, the SEC filing and print related costs. During the year ended March 31, 2024, the Company recorded a
charge of &lt;span style="-sec-ix-hidden: hidden-fact-82"&gt;HKD2,075,897&lt;/span&gt; related to the IPO. As of March 31, 2023 and 2024, the accumulated deferred IPO costs were &lt;span style="-sec-ix-hidden: hidden-fact-83"&gt;HKD3,176,871&lt;/span&gt; and HKD5,&lt;span style="-sec-ix-hidden: hidden-fact-92"&gt;252,768&lt;/span&gt;
(US$671,203), respectively.&lt;/p&gt;</ray:DeferredInitialPublicOfferingCostsPolicyTextBlock>
    <us-gaap:DeferredOfferingCosts contextRef="c63" decimals="0" id="ixv-22462" unitRef="usd">671203</us-gaap:DeferredOfferingCosts>
    <ray:LongTermDepositsPolicyTextBlock contextRef="c21" id="ixv-18651">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Long-term deposits&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Long-term deposits are mainly for rent, utilities
and money deposited with certain manufacturers. These amounts are refundable and bear no interest. The long-term deposits are refunded
from manufacturers when the terms and conditions set forth in the agreements have been satisfied.&lt;/p&gt;</ray:LongTermDepositsPolicyTextBlock>
    <us-gaap:PropertyPlantAndEquipmentPolicyTextBlock contextRef="c21" id="ixv-18673">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Property and equipment, net &lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Property and equipment are stated at cost less
accumulated depreciation and impairment if applicable. Depreciation is computed using the straight-line method after consideration of
the estimated useful lives. The estimated useful lives are as follows:&lt;/p&gt;&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left; padding-bottom: 1.5pt; vertical-align: top"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Useful Life&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="vertical-align: top; width: 70%; text-align: left"&gt;Office equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; width: 29%; text-align: center"&gt;2 years&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="vertical-align: top; text-align: left"&gt;Office furniture and fixtures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: center"&gt;2 years&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="vertical-align: top; text-align: left"&gt;Leasehold improvements&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: center"&gt;lesser of lease term or expected useful life&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The cost and related accumulated depreciation
of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the statements of operations.
Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterment, which are expected
to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent
events and circumstances warrant revised estimates of useful lives.&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentPolicyTextBlock>
    <us-gaap:PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock contextRef="c21" id="ixv-22463">The estimated useful lives are as follows:&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: left; padding-bottom: 1.5pt; vertical-align: top"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Useful Life&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="vertical-align: top; width: 70%; text-align: left"&gt;Office equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; width: 29%; text-align: center"&gt;2 years&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="vertical-align: top; text-align: left"&gt;Office furniture and fixtures&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: center"&gt;2 years&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="vertical-align: top; text-align: left"&gt;Leasehold improvements&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; text-align: center"&gt;lesser of lease term or expected useful life&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;</us-gaap:PropertyPlantAndEquipmentAndIntangibleAssetsTextBlock>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="c83" id="ixv-22464">P2Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <us-gaap:PropertyPlantAndEquipmentUsefulLife contextRef="c84" id="ixv-22465">P2Y</us-gaap:PropertyPlantAndEquipmentUsefulLife>
    <ray:PropertyPlantAndEquipmentsEstimatedUsefulLives contextRef="c85" id="ixv-22466">lesser of lease term or expected useful life</ray:PropertyPlantAndEquipmentsEstimatedUsefulLives>
    <us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock contextRef="c21" id="ixv-18705">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Impairment for long-lived assets&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Long-lived assets, including property and equipment
and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant
adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not
be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected
to generate and recognizes an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset
plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified,
the Company will reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when
available and appropriate, to comparable market values. As of March 31, 2023 and 2024, &lt;span style="-sec-ix-hidden: hidden-fact-96"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-97"&gt;no&lt;/span&gt;&lt;/span&gt; impairment of long-lived assets was recognized.&lt;/p&gt;</us-gaap:ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock>
    <us-gaap:FairValueMeasurementPolicyPolicyTextBlock contextRef="c21" id="ixv-18714">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Fair value measurement&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The accounting standard regarding fair value of
financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial
instruments held by the Company.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The accounting standards define fair value, establish
a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures.
The three levels are defined as follow:&lt;/p&gt;&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.25in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in"&gt;&#x25cf;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.25in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in"&gt;&#x25cf;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0.25in"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 0.25in"&gt;&#x25cf;&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Financial instruments included in current assets
and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of
the short period of time between the origination of such instruments and their expected realization and their current market rates of
interest.&lt;/p&gt;</us-gaap:FairValueMeasurementPolicyPolicyTextBlock>
    <us-gaap:LesseeLeasesPolicyTextBlock contextRef="c21" id="ixv-18748">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Leases&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company determines if an arrangement is a
lease at inception. Operating leases are included in operating lease right-of-use (&#x201c;ROU&#x201d;) assets, operating lease liability,
and operating lease liability, non-current in the Company&#x2019;s consolidated balance sheets. ROU assets represent the Company&#x2019;s
right to use an underlying asset for the lease term and lease liabilities represent the Company&#x2019;s obligation to make lease payments
arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease
payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is
reasonably certain that it will exercise that option, if any. As the Company&#x2019;s leases do not provide an implicit rate, the Company
used an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
The Company has elected to adopt the following lease policies in conjunction with the adoption of ASU 2016-02: (i) for leases that have
lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Company elected not
to apply ASC 842 recognition requirements; and (ii) the Company elected to apply the package of practical expedients for existing arrangements
entered into prior to April 1, 2020 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied
to existing leases, and(c) initial direct costs.&lt;/p&gt;</us-gaap:LesseeLeasesPolicyTextBlock>
    <ray:ContractBalancesPolicyTextBlock contextRef="c21" id="ixv-18770">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Contract Balances&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The timing of revenue recognition may differ from
the timing of invoicing to customers. For certain services, customers are required to pay before the services are delivered. The Company
recognizes a contract asset or a contract liability in the consolidated balance sheets, depending on the relationship between the Company&#x2019;s
performance and the customer&#x2019;s payment.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company classifies its right to consideration
in exchange for services transferred to a customer as either a receivable or a contract asset. A receivable is a right to consideration
that is unconditional as compared to a contract asset which is a right to consideration that is conditional upon factors other than the
passage of time. The Company recognizes accounts receivable in its consolidated balance sheets when it performs a service in advance of
receiving consideration and if it has the unconditional right to receive consideration. The Company did not have any capitalized contract
costs as of March 31, 2023 and 2024.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Contract liabilities are recognized if the Company
receives consideration in advance of performance, which is mainly in relation to emerging and other services. The Company expects to recognize
a significant majority of this balance as revenue over the next 12 months, and the remainder thereafter. As of March 31, 2023 and 2024,
the contract liabilities of the Company amounted to &lt;span style="-sec-ix-hidden: hidden-fact-84"&gt;HKD1,705,854&lt;/span&gt; and HKD1,&lt;span style="-sec-ix-hidden: hidden-fact-93"&gt;008,415&lt;/span&gt; (US$128,856), respectively.&lt;/p&gt;</ray:ContractBalancesPolicyTextBlock>
    <us-gaap:ContractWithCustomerLiabilityCurrent contextRef="c2" decimals="0" id="ixv-22467" unitRef="usd">128856</us-gaap:ContractWithCustomerLiabilityCurrent>
    <us-gaap:RevenueRecognitionPolicyTextBlock contextRef="c21" id="ixv-18785">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Revenue Recognition&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Revenue from contracts with customers is recognized
using the five-step model defined by ASC Topic 606 requires the Company to (1) identify its contracts with customers, (2) identify its
performance obligations under those contracts, (3) determine the transaction prices of those contracts, (4) allocate the transaction prices
to its performance obligations in those contracts and (5) recognize revenue when each performance obligation under those contracts is
satisfied. Revenue is recognized when promised goods or services are transferred to the customer in an amount that reflects the consideration
expected in exchange for those goods or services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Under ASC 606, revenue is recognized when control
of promised goods or services is transferred to the Company&#x2019;s customers in an amount of consideration to which an entity expects
to be entitled to in exchange for those goods or services. Control is the ability to direct the use of and obtain substantially all of
the remaining benefits from the specified goods and services.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company currently generates its revenue through
sourcing and wholesaling of Japanese beauty products, as well as personal care products and other products, through distribution network
to Japan market. Currently, the Company sells its products through sourcing and wholesale customers. The Company sells goods under Free
On Board (&#x201c;FOB&#x201d;) shipping point term, and revenue is recognized when product is loaded on the ships and control is deemed
as transferred. Typical payment terms set forth in the invoice are within 30 to 120 days.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Tooling revenue is earned from manufacturing multiple
tools, molds and assembly equipment as part of a tooling program for a customer. Given that the Company is providing a significant service
of producing highly interdependent component parts of the tooling program, each component does not generate standalone values. It must
be a completed mold so the customer can benefit from the purchase. Based on the arrangement with the customer, the Company recognizes
revenue at a point in time. In such cases, the Company recognizes revenue at the evidence transfer of control.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company is the principal for the majority
of its transactions and recognizes revenue on a gross basis. The Company is the principal when it has control of the merchandise before
it is transferred to customers, which generally is established when the Company is primarily responsible for merchandising decisions,
maintains the relationship with customer, and has pricing discretion.&lt;/p&gt;</us-gaap:RevenueRecognitionPolicyTextBlock>
    <ray:InvoiceTerm contextRef="c64" id="ixv-22468">P30D</ray:InvoiceTerm>
    <ray:InvoiceTerm contextRef="c65" id="ixv-22469">P120D</ray:InvoiceTerm>
    <ray:MerchandiseCostsPolicyTextBlock contextRef="c21" id="ixv-18820">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Merchandise costs&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Cost of sales of beauty products, personal care
products and other products, which are directly related to revenue-generating transactions, primarily consist of cost of purchasing of
products.&lt;/p&gt;</ray:MerchandiseCostsPolicyTextBlock>
    <us-gaap:SellingGeneralAndAdministrativeExpensesPolicyTextBlock contextRef="c21" id="ixv-18827">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Selling, general and administrative expenses&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Selling, general and administrative expenses consist
primarily of motor vehicle running expenses, travelling and entertainment and general administrative expenses such as of staff costs,
rental expenses, depreciation, legal and professional fees and other miscellaneous administrative expenses.&lt;/p&gt;</us-gaap:SellingGeneralAndAdministrativeExpensesPolicyTextBlock>
    <ray:EmployeeBenefitsPolicyTextBlock contextRef="c21" id="ixv-18834">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Employee Benefit&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Hong Kong Employment Ordinance (&#x201c;The Ordinance&#x201d;)
requires an employee employed under a continuous employment contract is entitled to sickness allowance if (1) the sick leave taken is
not less than four consecutive days; (2) the sick leave take is supported by an appropriate medical certificate; and (3) the employee
has accumulated sufficient number of paid sickness days. The daily rate of sickness allowance is a sum equivalent to four-fifths of the
average daily wages earned by an employee in the 12-month period preceding the first sickness day.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Ordinance also requires an employee is entitled
to 12 statutory holidays regardless of his or her length of services. Holiday pay should be paid to the employee whose continuous employment
contract is not less than three months immediately preceding a statutory holiday is entitled to the holiday pay.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;An employee is entitled to a paid annual leave
after having been employed under a continuous employment contract for every 12 months. An employee&#x2019;s paid annual leave increases
progressively from 7 days to a maximum of 14 days in accordance with his or her length of employment.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Under Hong Kong Mandatory Provident Fund Schemes
Ordinance, an employer shall enroll their regular employees in Mandatory Provident Fund Schemes. Regular employees are those who are at
between 18 and 65 years of age and have been employed for consecutive 60 days or more. An employer is required to make regular mandatory
contributions of at least 5% of the employee&#x2019;s monthly income between &lt;span style="-sec-ix-hidden: hidden-fact-88"&gt;HKD7,000&lt;/span&gt; and &lt;span style="-sec-ix-hidden: hidden-fact-85"&gt;HKD30,000&lt;/span&gt; and &lt;span style="-sec-ix-hidden: hidden-fact-89"&gt;HKD1,500&lt;/span&gt; of the employee&#x2019;s
monthly income over &lt;span style="-sec-ix-hidden: hidden-fact-86"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-87"&gt;HKD30,000&lt;/span&gt;&lt;/span&gt;.&lt;/p&gt;</ray:EmployeeBenefitsPolicyTextBlock>
    <us-gaap:DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent contextRef="c21" decimals="2" id="ixv-22470" unitRef="pure">0.05</us-gaap:DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent>
    <us-gaap:IncomeTaxPolicyTextBlock contextRef="c21" id="ixv-18855">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Income taxes&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Raytech is not subject to tax on income or capital
gains under the current laws of the British Virgin Islands. In addition, upon payments of dividends by Raytech and the Company&#x2019;s
subsidiary in Hong&#160;Kong, Pure Beauty to the Company&#x2019;s shareholders, no British Virgin Islands withholding tax will be imposed.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Pure Beauty is incorporated in and carry trade
and business in Hong&#160;Kong and is subject to Hong&#160;Kong profits tax under Inland Revenue Department Ordinance.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The charge for taxation is based on actual results
for the year as adjusted for items that are non-assessable&#160;or disallowed; and it is calculated using tax rates that have been enacted
or substantively enacted by the balance sheet date. The Group is not currently subject to tax in the British Virgin Islands.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Deferred income taxes are recognized when temporary
differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the&#160;years in which
those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to
reduce deferred tax assets to the amount expected to be realized.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;An uncertain tax position is recognized as a benefit
only if it is &#x201c;more likely than not&#x201d; that the tax position would be sustained in a tax examination. The amount recognized
is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the
&#x201c;more likely than not&#x201d; test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income
tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been
incurred during the&#160;years ended March&#160;31, 2022, 2023 and 2024.&lt;/p&gt;</us-gaap:IncomeTaxPolicyTextBlock>
    <us-gaap:EffectiveIncomeTaxRateContinuingOperations contextRef="c21" decimals="2" id="ixv-22471" unitRef="pure">0.50</us-gaap:EffectiveIncomeTaxRateContinuingOperations>
    <ray:RelatedPartiesPolicyTextBlock contextRef="c21" id="ixv-18889">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Related parties&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject
to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation.&lt;/p&gt;</ray:RelatedPartiesPolicyTextBlock>
    <us-gaap:CommitmentsAndContingenciesPolicyTextBlock contextRef="c21" id="ixv-18896">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Commitments and Contingencies&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In the normal course of business, the Company
is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters,
such as government investigations and tax matters. The Company recognizes a liability for such a contingency if it determines it is probable
that a loss has occurred, and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments
including historical and the specific facts and circumstances of each matter.&lt;/p&gt;</us-gaap:CommitmentsAndContingenciesPolicyTextBlock>
    <us-gaap:EarningsPerSharePolicyTextBlock contextRef="c21" id="ixv-18903">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Earnings per share&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company computes earnings per share (&#x201c;EPS&#x201d;)
in accordance with ASC&#160;260, &#x201c;Earnings per Share&#x201d;. ASC&#160;260 requires companies to present basic and diluted EPS.&#160;Basic
EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive
effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been
converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive
effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.&#160;For
the&#160;years ended March&#160;31, 2022, 2023 and 2024, there were no dilutive shares.&lt;/p&gt;</us-gaap:EarningsPerSharePolicyTextBlock>
    <us-gaap:ConcentrationRiskCreditRisk contextRef="c21" id="ixv-18910">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"&gt;&lt;span style="text-decoration:underline"&gt;Concentration of Risks&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;Concentration of credit
risk&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Financial instruments that potentially expose
the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company places its cash with financial
institutions with high credit ratings and quality.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Accounts receivable primarily comprise of amounts
receivable from the service customers. To reduce credit risk, the Company performs ongoing credit evaluations of the financial condition
of these service customers. The Company establishes a provision for doubtful accounts based upon estimates, factors surrounding the credit
risk of specific service customers and other information.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;Concentration of customers&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;As of March 31, 2022 and 2023, one major customer,
who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for 96.8% and 99.6% of the
Company&#x2019;s total accounts receivable respectively. As of March 31, 2024, two customers, who are distributors represent and sell brands
of well-known manufactures from Japan, the U.S., UK, Europe and Australia accounted for 72.1% and 27.9% of the Company&#x2019;s total accounts
receivable respectively.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;For the years ended March 31, 2022 and 2023, one
major customer, who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for 97.8% and
91.3% of the Company&#x2019;s total revenues respectively. For the year ended March 31, 2024, two major customers, who are distributors
represent and sell brands of well-known manufactures from Japan, the U.S. and Europe, accounted for 74.1% and 16.5% of the Company&#x2019;s
total revenues respectively.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Concentration of manufacturers&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;As of March 31, 2022, two manufacturers accounted
for 82.6% and 15.2% of the total balance of accounts payable respectively. As of March&#160;31, 2023, one manufacturer accounted for 92.3%
of the total balance of accounts payable. As of March&#160;31, 2024, one manufacturer accounted for 97.1% of the total balance of accounts
payable. The manufacturer is a related party, which was disclosed in the Note 10.&lt;/p&gt;For the year ended March 31, 2022, two manufacturers
accounted for 77.3% and 22.3% of our total purchases, respectively. For the year ended March&#160;31, 2023, two manufacturers accounted
for 83.1% and 10.4% of our total purchases respectively. For the year ended March&#160;31, 2024, one manufacturer accounted for 88.5 %
of our total purchases.</us-gaap:ConcentrationRiskCreditRisk>
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    <us-gaap:ConcentrationRiskPercentage1 contextRef="c67" decimals="3" id="ixv-22473" unitRef="pure">0.996</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c68" decimals="3" id="ixv-22474" unitRef="pure">0.721</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c69" decimals="3" id="ixv-22475" unitRef="pure">0.279</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c70" decimals="3" id="ixv-22476" unitRef="pure">0.978</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c71" decimals="3" id="ixv-22477" unitRef="pure">0.913</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c72" decimals="3" id="ixv-22478" unitRef="pure">0.741</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c73" decimals="3" id="ixv-22479" unitRef="pure">0.165</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c74" decimals="3" id="ixv-22480" unitRef="pure">0.826</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c75" decimals="3" id="ixv-22481" unitRef="pure">0.152</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c76" decimals="3" id="ixv-22482" unitRef="pure">0.923</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c77" decimals="3" id="ixv-22483" unitRef="pure">0.971</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c78" decimals="3" id="ixv-22485" unitRef="pure">0.773</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c79" decimals="3" id="ixv-22486" unitRef="pure">0.223</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c80" decimals="3" id="ixv-22487" unitRef="pure">0.831</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c81" decimals="3" id="ixv-22488" unitRef="pure">0.104</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:ConcentrationRiskPercentage1 contextRef="c82" decimals="3" id="ixv-22489" unitRef="pure">0.885</us-gaap:ConcentrationRiskPercentage1>
    <us-gaap:SegmentReportingPolicyPolicyTextBlock contextRef="c21" id="ixv-18955">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Segment reporting&lt;/span&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;ASC 280, &#x201c;Segment Reporting&#x201d;, establishes
standards for reporting information about operating segments on a basis consistent with the Company&#x2019;s internal organizational structure
as well as information about geographical areas, business segments and major customers in consolidated financial statements for detailing
the Company&#x2019;s business segments. Based on the criteria established by ASC 280, the Company&#x2019;s chief operating decision maker
(&#x201c;CODM&#x201d;) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about
allocating resources and assessing performance of the Company. As a whole and hence, the Company has only one reportable segment. The
Company does not distinguish between markets or segments for the purpose of internal reporting. As the Company&#x2019;s long-lived assets
are substantially located in Hong Kong, no geographical segments are presented.&lt;/p&gt;</us-gaap:SegmentReportingPolicyPolicyTextBlock>
    <us-gaap:NumberOfReportableSegments contextRef="c21" decimals="0" id="ixv-22490" unitRef="pure">1</us-gaap:NumberOfReportableSegments>
    <us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock contextRef="c21" id="ixv-18962">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Recently issued accounting pronouncements&lt;/b&gt;&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company considers the applicability and impact
of all accounting standards updates (&#x201c;ASUs&#x201d;). Management periodically reviews new accounting standards that are issued. Under
the Jumpstart Our Business Startups Act of 2012, as amended (the &#x201c;JOBS Act&#x201d;), the Company meets the definition of an emerging
growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays
the adoption of these accounting standards until they would apply to private companies.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;On December 18, 2019, the FASB issued ASU No.
2019-12, Income taxes (Topic 740), Simplifying the Accounting for Income Taxes. This guidance amends ASC Topic 740 and addresses several
aspects including 1) evaluation of step-up tax basis of goodwill when there is not a business combination, 2) policy election to not allocate
consolidated taxes on a separate entity basis to entities not subject to income tax, 3) accounting for tax law changes or rates during
interim periods, 4) ownership changes from equity method investment to subsidiary or vice versa, 5) elimination of exception to intrapetrous
allocation when there is gain in discontinued operations and a loss from continuing operations, and 6) treatment of franchise taxes that
are partially based on income. The amendments in this Update are effective for the Company for fiscal years beginning after December 15,
2021, and interim periods within fiscal years beginning after December 15, 2022. The Company is evaluating the impact of this guidance
on its consolidated financial statements and related disclosures.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In October 2020, the FASB issued ASU 2020-08,
&#x201c;Codification Improvements to Subtopic 310-20, Receivables&#x2014;Nonrefundable Fees and Other Costs&#x201d;. The amendments in this
Update represent changes to clarify the Codification. The amendments make the Codification easier to understand and easier to apply by
eliminating inconsistencies and providing clarifications. ASU 2020-08 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022. All entities should apply the amendments in this
Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities.
These amendments do not change the effective dates for Update 2017-08. The Company is currently evaluating the impact of this new standard
on the Company&#x2019;s consolidated financial statements and related disclosures.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In October 2020, the FASB issued ASU 2020-10,
&#x201c;Codification Improvements&#x201d;. The amendments in this Update represent changes to clarify the Codification or correct unintended
application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative
cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities
within the scope of the affected accounting guidance. ASU 2020-10 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022.The amendments in this Update should be applied retrospectively.
The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;In October 2021, the FASB issued ASU 2021-08,
Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires
entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09,
Revenue from Contracts with Customers (Topic 606). The update will generally result in an entity recognizing contract assets and contract
liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value.
The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted.
This standard is effective for the Company on January 1, 2023 and the Company does not expect a significant impact to the consolidated
financial statements upon adoption. However, the ultimate impact is dependent upon the size and frequency of future acquisitions.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company does not believe other recently issued
but not yet effective accounting standards, if currently adopted, would have a material effect on the Company&#x2019;s consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows.&lt;/p&gt;</us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock>
    <us-gaap:RevenueFromContractWithCustomerTextBlock contextRef="c21" id="ixv-19002">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 3 &#x2014;&#160;&lt;span style="text-transform: uppercase"&gt;Revenue&lt;/span&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Effective April 1, 2020, the Company adopted ASC
Topic 606,&#160;Revenue from Contracts with Customers, which replaced ASC Topic 605, using the modified retrospective method of adoption.
Results for reporting periods beginning after April 1, 2020 are presented under ASC Topic 606 while prior period amounts are not adjusted
and continue to be presented under the Company&#x2019;s historic accounting under ASC Topic 605. The Company&#x2019;s accounting for revenues
remains substantially unchanged. There were no cumulative effect adjustments made to the contracts in place prior to July 1, 2019. The
effect from the adoption of ASC Topic 606 was not material to the Company&#x2019;s consolidated financial statements.&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Revenue is recognized when control of promised
goods or services is transferred to the Company&#x2019;s customers in an amount of consideration to which an entity expects to be entitled
to in exchange for those goods or services. Control is the ability to direct the use of and obtain substantially all of the remaining
benefits from the specified goods and services.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The following table present the Company&#x2019;s
revenue disaggregated by product categories for the&#160;years ended March&#160;31, 2022, 2023 and 2024, respectively:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the years ended March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;Sales of products&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; width: 52%; text-align: left"&gt;Hair styling series&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;17,292,889&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;28,202,591&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;31,833,932&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,067,766&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left"&gt;Trimmer series&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,759,312&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,573,741&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,684,148&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,898,599&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left"&gt;Eyelash curler&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,853,553&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,407,342&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;804,863&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;102,846&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left"&gt;Neck care series&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,816,250&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-98"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-99"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-100"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left"&gt;Nail care series&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,155,090&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,217,577&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,413,106&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;180,568&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"&gt;Other personal care appliances&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,228,823&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,981,513&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,230,238&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;412,763&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;45,105,917&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;42,382,764&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;59,966,287&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;7,662,542&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; font-weight: bold; padding-bottom: 1.5pt"&gt;Sales of tooling&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-101"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,135,475&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;7,006,014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;895,234&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; font-weight: bold; padding-bottom: 2.5pt"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;45,105,917&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;45,518,239&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;66,972,301&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;8,557,776&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:RevenueFromContractWithCustomerTextBlock>
    <us-gaap:DisaggregationOfRevenueTableTextBlock contextRef="c21" id="ixv-19011">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The following table present the Company&#x2019;s
revenue disaggregated by product categories for the&#160;years ended March&#160;31, 2022, 2023 and 2024, respectively:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the years ended March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;Sales of products&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; width: 52%; text-align: left"&gt;Hair styling series&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;17,292,889&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;28,202,591&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;31,833,932&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,067,766&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left"&gt;Trimmer series&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;9,759,312&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,573,741&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;22,684,148&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,898,599&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left"&gt;Eyelash curler&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,853,553&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,407,342&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;804,863&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;102,846&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left"&gt;Neck care series&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;6,816,250&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-98"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-99"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-100"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left"&gt;Nail care series&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,155,090&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,217,577&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,413,106&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;180,568&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-left: 0.25in; text-align: left; padding-bottom: 1.5pt"&gt;Other personal care appliances&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;6,228,823&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;2,981,513&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,230,238&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;412,763&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;45,105,917&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;42,382,764&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;59,966,287&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;7,662,542&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; font-weight: bold; padding-bottom: 1.5pt"&gt;Sales of tooling&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-101"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;3,135,475&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;7,006,014&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;895,234&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-left: 0.125in; font-weight: bold; padding-bottom: 2.5pt"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;45,105,917&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;45,518,239&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;66,972,301&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;8,557,776&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:DisaggregationOfRevenueTableTextBlock>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c86" decimals="0" id="ixv-22491" unitRef="hkd">17292889</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c87" decimals="0" id="ixv-22492" unitRef="hkd">28202591</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c88" decimals="0" id="ixv-22493" unitRef="hkd">31833932</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c88" decimals="0" id="ixv-22494" unitRef="usd">4067766</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c89" decimals="0" id="ixv-22495" unitRef="hkd">9759312</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c90" decimals="0" id="ixv-22496" unitRef="hkd">8573741</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c91" decimals="0" id="ixv-22497" unitRef="hkd">22684148</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c91" decimals="0" id="ixv-22498" unitRef="usd">2898599</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c92" decimals="0" id="ixv-22499" unitRef="hkd">1853553</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c93" decimals="0" id="ixv-22500" unitRef="hkd">1407342</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c94" decimals="0" id="ixv-22501" unitRef="hkd">804863</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
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    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c95" decimals="0" id="ixv-22503" unitRef="hkd">6816250</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
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    <us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax contextRef="c99" decimals="0" id="ixv-22505" unitRef="hkd">1217577</us-gaap:RevenueFromContractWithCustomerIncludingAssessedTax>
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    <us-gaap:Revenues contextRef="c18" decimals="0" id="ixv-22521" unitRef="hkd">66972301</us-gaap:Revenues>
    <us-gaap:Revenues contextRef="c18" decimals="0" id="ixv-22522" unitRef="usd">8557776</us-gaap:Revenues>
    <us-gaap:AccountsAndNontradeReceivableTextBlock contextRef="c21" id="ixv-19279">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 4 &#x2014;&#160;ACCOUNTS RECEIVABLE, NET&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Accounts receivable, net consisted of the following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Accounts receivable&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,787,330&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;14,557,523&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,860,172&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: allowance for doubtful accounts&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-102"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-103"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-104"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Accounts receivable, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;6,787,330&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;14,557,523&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,860,172&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;As of the end of each of the financial year, the
aging analysis of accounts receivable, net of allowance for doubtful accounts, based on the invoice date is as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Within 30 days&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,787,330&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;14,547,396&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,858,878&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Within 31 to 60 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-105"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,127&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,294&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Total accounts receivable, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;6,787,330&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;14,557,523&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,860,172&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;There was &lt;span style="-sec-ix-hidden: hidden-fact-106"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-107"&gt;no&lt;/span&gt;&lt;/span&gt; provision of doubtful debts for the&#160;years
ended March&#160;31, 2023 and 2024, respectively.&lt;/p&gt;</us-gaap:AccountsAndNontradeReceivableTextBlock>
    <us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock contextRef="c21" id="ixv-19283">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Accounts receivable, net consisted of the following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Accounts receivable&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,787,330&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;14,557,523&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,860,172&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: allowance for doubtful accounts&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-102"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-103"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-104"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Accounts receivable, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;6,787,330&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;14,557,523&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,860,172&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock>
    <us-gaap:AccountsReceivableGrossCurrent contextRef="c6" decimals="0" id="ixv-22523" unitRef="hkd">6787330</us-gaap:AccountsReceivableGrossCurrent>
    <us-gaap:AccountsReceivableGrossCurrent contextRef="c2" decimals="0" id="ixv-22524" unitRef="hkd">14557523</us-gaap:AccountsReceivableGrossCurrent>
    <us-gaap:AccountsReceivableGrossCurrent contextRef="c2" decimals="0" id="ixv-22525" unitRef="usd">1860172</us-gaap:AccountsReceivableGrossCurrent>
    <us-gaap:AccountsReceivableNetCurrent contextRef="c6" decimals="0" id="ixv-22526" unitRef="hkd">6787330</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:AccountsReceivableNetCurrent contextRef="c2" decimals="0" id="ixv-22527" unitRef="hkd">14557523</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:AccountsReceivableNetCurrent contextRef="c2" decimals="0" id="ixv-22528" unitRef="usd">1860172</us-gaap:AccountsReceivableNetCurrent>
    <us-gaap:AccountsReceivableAllowanceForCreditLossTableTextBlock contextRef="c21" id="ixv-19361">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;As of the end of each of the financial year, the
aging analysis of accounts receivable, net of allowance for doubtful accounts, based on the invoice date is as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Within 30 days&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,787,330&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;14,547,396&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,858,878&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Within 31 to 60 days&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-105"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;10,127&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,294&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Total accounts receivable, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;6,787,330&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;14,557,523&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,860,172&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:AccountsReceivableAllowanceForCreditLossTableTextBlock>
    <us-gaap:AccountsReceivableNet contextRef="c104" decimals="0" id="ixv-22529" unitRef="hkd">6787330</us-gaap:AccountsReceivableNet>
    <us-gaap:AccountsReceivableNet contextRef="c105" decimals="0" id="ixv-22530" unitRef="hkd">14547396</us-gaap:AccountsReceivableNet>
    <us-gaap:AccountsReceivableNet contextRef="c105" decimals="0" id="ixv-22531" unitRef="usd">1858878</us-gaap:AccountsReceivableNet>
    <us-gaap:AccountsReceivableNet contextRef="c107" decimals="0" id="ixv-22532" unitRef="hkd">10127</us-gaap:AccountsReceivableNet>
    <us-gaap:AccountsReceivableNet contextRef="c107" decimals="0" id="ixv-22533" unitRef="usd">1294</us-gaap:AccountsReceivableNet>
    <us-gaap:AccountsReceivableNet contextRef="c6" decimals="0" id="ixv-22534" unitRef="hkd">6787330</us-gaap:AccountsReceivableNet>
    <us-gaap:AccountsReceivableNet contextRef="c2" decimals="0" id="ixv-22535" unitRef="hkd">14557523</us-gaap:AccountsReceivableNet>
    <us-gaap:AccountsReceivableNet contextRef="c2" decimals="0" id="ixv-22536" unitRef="usd">1860172</us-gaap:AccountsReceivableNet>
    <us-gaap:InventoryDisclosureTextBlock contextRef="c21" id="ixv-19442">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 5 &#x2014;&#160;MERCHANDISE INVENTORIES,
NET&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Merchandise inventories, net, consisted of the
following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Hair styling series&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-108"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;911,875&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;116,520&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Trimmer series&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-109"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,398&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,990&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Nail care series&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-110"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;258,628&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;33,048&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Other personal care appliances&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-111"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;661,785&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;84,563&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: inventory allowances&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-112"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-113"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-114"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Merchandise inventories, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-115"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,855,686&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;237,121&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;There was no inventory impairment for the&#160;years
ended March 31, 2023 and 2024, respectively.&lt;/p&gt;</us-gaap:InventoryDisclosureTextBlock>
    <us-gaap:ScheduleOfInventoryCurrentTableTextBlock contextRef="c21" id="ixv-19447">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Merchandise inventories, net, consisted of the
following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Hair styling series&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-108"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;911,875&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;116,520&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Trimmer series&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-109"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;23,398&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,990&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left"&gt;Nail care series&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-110"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;258,628&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;33,048&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Other personal care appliances&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-111"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;661,785&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;84,563&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: inventory allowances&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-112"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-113"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-114"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Merchandise inventories, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-115"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,855,686&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;237,121&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:ScheduleOfInventoryCurrentTableTextBlock>
    <us-gaap:InventoryGross contextRef="c109" decimals="0" id="ixv-22537" unitRef="hkd">911875</us-gaap:InventoryGross>
    <us-gaap:InventoryGross contextRef="c109" decimals="0" id="ixv-22538" unitRef="usd">116520</us-gaap:InventoryGross>
    <us-gaap:InventoryGross contextRef="c111" decimals="0" id="ixv-22539" unitRef="hkd">23398</us-gaap:InventoryGross>
    <us-gaap:InventoryGross contextRef="c111" decimals="0" id="ixv-22540" unitRef="usd">2990</us-gaap:InventoryGross>
    <us-gaap:InventoryGross contextRef="c113" decimals="0" id="ixv-22541" unitRef="hkd">258628</us-gaap:InventoryGross>
    <us-gaap:InventoryGross contextRef="c113" decimals="0" id="ixv-22542" unitRef="usd">33048</us-gaap:InventoryGross>
    <us-gaap:InventoryGross contextRef="c115" decimals="0" id="ixv-22543" unitRef="hkd">661785</us-gaap:InventoryGross>
    <us-gaap:InventoryGross contextRef="c115" decimals="0" id="ixv-22544" unitRef="usd">84563</us-gaap:InventoryGross>
    <us-gaap:InventoryNet contextRef="c2" decimals="0" id="ixv-22545" unitRef="hkd">1855686</us-gaap:InventoryNet>
    <us-gaap:InventoryNet contextRef="c2" decimals="0" id="ixv-22546" unitRef="usd">237121</us-gaap:InventoryNet>
    <us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock contextRef="c21" id="ixv-19590">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 6 &#x2014;&#160;PROPERTY AND EQUIPMENT,
NET&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Property and equipment, net, consisted of the
following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Office equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;52,596&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;52,596&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,721&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Office furniture and fixtures&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,700&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,700&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,495&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Subtotal&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;64,296&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;64,296&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,216&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: accumulated depreciation&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(59,428&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(64,296&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(8,216&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Property and equipment, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;4,868&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-116"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-117"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Depreciation expenses recognized for the&#160;years
ended March&#160;31, 2023 and 2024 amounted to &lt;span style="-sec-ix-hidden: hidden-fact-118"&gt;HKD13,924&lt;/span&gt; and &lt;span style="-sec-ix-hidden: hidden-fact-119"&gt;HKD4,868&lt;/span&gt; (US$622), respectively.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;No impairment loss had been recognized during
the years ended March 31, 2023 and 2024, respectively.&lt;/p&gt;</us-gaap:PropertyPlantAndEquipmentDisclosureTextBlock>
    <us-gaap:PropertyPlantAndEquipmentTextBlock contextRef="c21" id="ixv-19594">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Property and equipment, net, consisted of the
following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Office equipment&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;52,596&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;52,596&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;6,721&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Office furniture and fixtures&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,700&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;11,700&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;1,495&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td&gt;Subtotal&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;64,296&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;64,296&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;8,216&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Less: accumulated depreciation&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(59,428&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(64,296&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(8,216&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Property and equipment, net&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;4,868&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-116"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-117"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:PropertyPlantAndEquipmentTextBlock>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c116" decimals="0" id="ixv-22547" unitRef="hkd">52596</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c83" decimals="0" id="ixv-22548" unitRef="hkd">52596</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c83" decimals="0" id="ixv-22549" unitRef="usd">6721</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c117" decimals="0" id="ixv-22550" unitRef="hkd">11700</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c84" decimals="0" id="ixv-22551" unitRef="hkd">11700</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c84" decimals="0" id="ixv-22552" unitRef="usd">1495</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c6" decimals="0" id="ixv-22553" unitRef="hkd">64296</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c2" decimals="0" id="ixv-22554" unitRef="hkd">64296</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:PropertyPlantAndEquipmentGross contextRef="c2" decimals="0" id="ixv-22555" unitRef="usd">8216</us-gaap:PropertyPlantAndEquipmentGross>
    <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="c6" decimals="0" id="ixv-22556" unitRef="hkd">59428</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
    <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="c2" decimals="0" id="ixv-22557" unitRef="hkd">64296</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
    <us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment contextRef="c2" decimals="0" id="ixv-22558" unitRef="usd">8216</us-gaap:AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment>
    <us-gaap:PropertyPlantAndEquipmentNet contextRef="c6" decimals="0" id="ixv-22559" unitRef="hkd">4868</us-gaap:PropertyPlantAndEquipmentNet>
    <us-gaap:DepreciationAndAmortization contextRef="c21" decimals="0" id="ixv-22560" unitRef="usd">622</us-gaap:DepreciationAndAmortization>
    <us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock contextRef="c21" id="ixv-19706">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 7 &#x2014;&#160;ACCRUALS&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Accruals consisted of the following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Professional fee&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;34,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;35,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,472&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Employee payroll and other benefits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;397,789&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;377,056&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;48,181&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;Commission&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;184,289&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;606,562&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;77,507&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Total accruals&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;616,078&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,018,618&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;130,160&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock>
    <us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock contextRef="c21" id="ixv-19710">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Accruals consisted of the following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;Professional fee&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;34,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;35,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;4,472&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Employee payroll and other benefits&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;397,789&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;377,056&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;48,181&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;Commission&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;184,289&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;606,562&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;77,507&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Total accruals&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;616,078&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,018,618&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;130,160&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock>
    <us-gaap:AccruedProfessionalFeesCurrent contextRef="c6" decimals="0" id="ixv-22561" unitRef="hkd">34000</us-gaap:AccruedProfessionalFeesCurrent>
    <us-gaap:AccruedProfessionalFeesCurrent contextRef="c2" decimals="0" id="ixv-22562" unitRef="hkd">35000</us-gaap:AccruedProfessionalFeesCurrent>
    <us-gaap:AccruedProfessionalFeesCurrent contextRef="c2" decimals="0" id="ixv-22563" unitRef="usd">4472</us-gaap:AccruedProfessionalFeesCurrent>
    <us-gaap:EmployeeRelatedLiabilitiesCurrent contextRef="c6" decimals="0" id="ixv-22564" unitRef="hkd">397789</us-gaap:EmployeeRelatedLiabilitiesCurrent>
    <us-gaap:EmployeeRelatedLiabilitiesCurrent contextRef="c2" decimals="0" id="ixv-22565" unitRef="hkd">377056</us-gaap:EmployeeRelatedLiabilitiesCurrent>
    <us-gaap:EmployeeRelatedLiabilitiesCurrent contextRef="c2" decimals="0" id="ixv-22566" unitRef="usd">48181</us-gaap:EmployeeRelatedLiabilitiesCurrent>
    <us-gaap:AccruedSalesCommissionCurrent contextRef="c6" decimals="0" id="ixv-22567" unitRef="hkd">184289</us-gaap:AccruedSalesCommissionCurrent>
    <us-gaap:AccruedSalesCommissionCurrent contextRef="c2" decimals="0" id="ixv-22568" unitRef="hkd">606562</us-gaap:AccruedSalesCommissionCurrent>
    <us-gaap:AccruedSalesCommissionCurrent contextRef="c2" decimals="0" id="ixv-22569" unitRef="usd">77507</us-gaap:AccruedSalesCommissionCurrent>
    <us-gaap:AccruedLiabilitiesCurrent contextRef="c6" decimals="0" id="ixv-22570" unitRef="hkd">616078</us-gaap:AccruedLiabilitiesCurrent>
    <us-gaap:AccruedLiabilitiesCurrent contextRef="c2" decimals="0" id="ixv-22571" unitRef="hkd">1018618</us-gaap:AccruedLiabilitiesCurrent>
    <us-gaap:AccruedLiabilitiesCurrent contextRef="c2" decimals="0" id="ixv-22572" unitRef="usd">130160</us-gaap:AccruedLiabilitiesCurrent>
    <ray:ContractLiabilityTextBlock contextRef="c21" id="ixv-19812">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;b&gt;Note 8 &#x2014; CONTRACT LIABILITIES&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Movement in contract liabilities, consistent of
the following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;At the beginning&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-120"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,705,854&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;217,975&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Receipt from the clients&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,281,374&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,288,856&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;164,691&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Revenue recognized during the year&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,575,520&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,986,295&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(253,810&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;At the end&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,705,854&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,008,415&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;128,856&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ray:ContractLiabilityTextBlock>
    <us-gaap:ContractWithCustomerAssetAndLiabilityTableTextBlock contextRef="c21" id="ixv-19816">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Movement in contract liabilities, consistent of
the following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left"&gt;At the beginning&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-120"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,705,854&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;217,975&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-align: left"&gt;Receipt from the clients&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;3,281,374&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,288,856&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;164,691&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-align: left; padding-bottom: 1.5pt"&gt;Revenue recognized during the year&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,575,520&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(1,986,295&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(253,810&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;At the end&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,705,854&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,008,415&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;128,856&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:ContractWithCustomerAssetAndLiabilityTableTextBlock>
    <us-gaap:ContractWithCustomerLiability contextRef="c6" decimals="0" id="ixv-22573" unitRef="hkd">1705854</us-gaap:ContractWithCustomerLiability>
    <us-gaap:ContractWithCustomerLiability contextRef="c6" decimals="0" id="ixv-22574" unitRef="usd">217975</us-gaap:ContractWithCustomerLiability>
    <ray:ReceiptFromTheClients contextRef="c20" decimals="0" id="ixv-22575" unitRef="hkd">3281374</ray:ReceiptFromTheClients>
    <ray:ReceiptFromTheClients contextRef="c21" decimals="0" id="ixv-22576" unitRef="hkd">1288856</ray:ReceiptFromTheClients>
    <ray:ReceiptFromTheClients contextRef="c21" decimals="0" id="ixv-22577" unitRef="usd">164691</ray:ReceiptFromTheClients>
    <us-gaap:ContractWithCustomerLiabilityRevenueRecognized contextRef="c20" decimals="0" id="ixv-22578" unitRef="hkd">-1575520</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
    <us-gaap:ContractWithCustomerLiabilityRevenueRecognized contextRef="c21" decimals="0" id="ixv-22579" unitRef="hkd">-1986295</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
    <us-gaap:ContractWithCustomerLiabilityRevenueRecognized contextRef="c21" decimals="0" id="ixv-22580" unitRef="usd">-253810</us-gaap:ContractWithCustomerLiabilityRevenueRecognized>
    <us-gaap:ContractWithCustomerLiability contextRef="c6" decimals="0" id="ixv-22581" unitRef="hkd">1705854</us-gaap:ContractWithCustomerLiability>
    <us-gaap:ContractWithCustomerLiability contextRef="c2" decimals="0" id="ixv-22582" unitRef="hkd">1008415</us-gaap:ContractWithCustomerLiability>
    <us-gaap:ContractWithCustomerLiability contextRef="c2" decimals="0" id="ixv-22583" unitRef="usd">128856</us-gaap:ContractWithCustomerLiability>
    <us-gaap:IncomeTaxDisclosureTextBlock contextRef="c21" id="ixv-19907">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 9 &#x2014;&#160;TAXES&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;&lt;span style="text-decoration:underline"&gt;Income tax&lt;/span&gt;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;British Virgin Islands&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company is incorporated in the BVI and is
not subject to tax on income or capital gains under current BVI law. In addition, upon payments of dividends by these entities to their
shareholders, no BVI withholding tax will be imposed.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;Hong&#160;Kong&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Pure Beauty is incorporated in Hong&#160;Kong
and is subject to&#160;Hong&#160;Kong profits tax at a rate of 16.5% for taxable income earned in Hong&#160;Kong. Under Hong&#160;Kong
tax law, Pure Beauty is exempted from income tax on its foreign-derived income and there are &lt;span style="-sec-ix-hidden: hidden-fact-129"&gt;no&lt;/span&gt; withholding taxes in Hong&#160;Kong on
remittance of dividends.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Taxation in the statement of income represents:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the years ended March 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;Hong&#160;Kong profits tax provision for the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%"&gt;Current&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,739,988&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,181,056&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,817,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;359,959&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;Deferred&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-121"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-122"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-123"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-124"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,739,988&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,181,056&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;2,817,000&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;359,959&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The following table reconciles Hong Kong statutory
rates to the Company&#x2019;s effective tax rate:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the years ended March 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left"&gt;Income before tax&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;11,180,378&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7,473,926&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;12,753,794&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,629,691&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Hong Kong statutory income tax rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16.50&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16.50&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16.50&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16.50&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Income tax expense computed at statutory rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,844,763&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,233,198&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,104,376&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;268,899&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Reconciling items:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Non-deductible items in Hong Kong&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-125"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-126"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;272,376&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;34,804&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Non-taxable items in Hong Kong&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(94,775&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(46,142&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(608,034&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(77,695&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Under provision for prior year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-127"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-128"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,051,282&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;134,334&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Tax credit&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,000&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(6,000&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,000&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(383&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Effective income tax expenses&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,739,988&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,181,056&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;2,817,000&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;359,959&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;&lt;span style="text-decoration:underline"&gt;Uncertain tax positions&lt;/span&gt;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company evaluates the level of authority
for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures
the unrecognized benefits associated with the tax positions. As of March 31, 2022, 2023 and 2024, the Company did not have any unrecognized
tax benefits. For the years ended March 31, 2022, 2023 and 2024, the Company had &lt;span style="-sec-ix-hidden: hidden-fact-130"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-131"&gt;&lt;span style="-sec-ix-hidden: hidden-fact-132"&gt;no&lt;/span&gt;&lt;/span&gt;&lt;/span&gt; unrecognized tax benefits.&lt;/p&gt;</us-gaap:IncomeTaxDisclosureTextBlock>
    <us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
      contextRef="c118"
      decimals="3"
      id="ixv-22584"
      unitRef="pure">0.165</us-gaap:EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate>
    <us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock contextRef="c21" id="ixv-19928">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Taxation in the statement of income represents:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the years ended March 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;Hong&#160;Kong profits tax provision for the year:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%"&gt;Current&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,739,988&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,181,056&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;2,817,000&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;359,959&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;Deferred&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-121"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-122"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-123"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-124"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,739,988&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,181,056&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;2,817,000&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;359,959&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock>
    <us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="c19" decimals="0" id="ixv-22585" unitRef="hkd">1739988</us-gaap:CurrentIncomeTaxExpenseBenefit>
    <us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="c20" decimals="0" id="ixv-22586" unitRef="hkd">1181056</us-gaap:CurrentIncomeTaxExpenseBenefit>
    <us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="c21" decimals="0" id="ixv-22587" unitRef="hkd">2817000</us-gaap:CurrentIncomeTaxExpenseBenefit>
    <us-gaap:CurrentIncomeTaxExpenseBenefit contextRef="c21" decimals="0" id="ixv-22588" unitRef="usd">359959</us-gaap:CurrentIncomeTaxExpenseBenefit>
    <ray:IncomeTaxExpensesBenefit contextRef="c19" decimals="0" id="ixv-22589" unitRef="hkd">1739988</ray:IncomeTaxExpensesBenefit>
    <ray:IncomeTaxExpensesBenefit contextRef="c20" decimals="0" id="ixv-22590" unitRef="hkd">1181056</ray:IncomeTaxExpensesBenefit>
    <ray:IncomeTaxExpensesBenefit contextRef="c21" decimals="0" id="ixv-22591" unitRef="hkd">2817000</ray:IncomeTaxExpensesBenefit>
    <ray:IncomeTaxExpensesBenefit contextRef="c21" decimals="0" id="ixv-22592" unitRef="usd">359959</ray:IncomeTaxExpensesBenefit>
    <us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock contextRef="c21" id="ixv-20053">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The following table reconciles Hong Kong statutory
rates to the Company&#x2019;s effective tax rate:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the years ended March 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; width: 52%; text-align: left"&gt;Income before tax&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;11,180,378&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;7,473,926&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;12,753,794&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; text-align: right"&gt;1,629,691&lt;/td&gt;&lt;td style="width: 1%; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Hong Kong statutory income tax rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16.50&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16.50&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16.50&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;16.50&lt;/td&gt;&lt;td style="text-align: left"&gt;%&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Income tax expense computed at statutory rate&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,844,763&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,233,198&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;2,104,376&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;268,899&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Reconciling items:&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Non-deductible items in Hong Kong&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-125"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-126"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;272,376&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;34,804&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Non-taxable items in Hong Kong&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(94,775&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(46,142&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(608,034&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;(77,695&lt;/td&gt;&lt;td style="text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left"&gt;Under provision for prior year&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-127"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-128"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;1,051,282&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;134,334&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: left; padding-bottom: 1.5pt"&gt;Tax credit&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(10,000&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(6,000&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(3,000&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;(383&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;)&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Effective income tax expenses&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,739,988&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;1,181,056&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;2,817,000&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;359,959&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock>
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    <ray:IncomeTaxReconciliationNonTaxableExpense contextRef="c19" decimals="0" id="ixv-22607" unitRef="hkd">-94775</ray:IncomeTaxReconciliationNonTaxableExpense>
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    <ray:IncomeTaxReconciliationNonTaxableExpense contextRef="c21" decimals="0" id="ixv-22609" unitRef="hkd">-608034</ray:IncomeTaxReconciliationNonTaxableExpense>
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    <us-gaap:RelatedPartyTransactionsDisclosureTextBlock contextRef="c21" id="ixv-20270">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 10 &#x2014;&#160;&lt;span style="text-transform: uppercase"&gt;Related
party balances and transactions&lt;/span&gt;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-transform: uppercase"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company&#x2019;s relationships with related
parties who had transactions with the Company are summarized as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="text-indent: -0.125in; padding-left: 0.125in; border-bottom: black 1.5pt solid; width: 49%; text-align: justify"&gt;&lt;b&gt;Related Party Name&lt;/b&gt;&lt;/td&gt; &lt;td style="width: 2%"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: black 1.5pt solid; width: 49%; text-align: center"&gt;&lt;b&gt;Relationship to the Company&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: rgb(204,238,255)"&gt; &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;Mr. Ching Tim Hoi (&#x201c;Mr. Ching&#x201d;)&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Controlling shareholder, CEO and Chairman of the Company and Director of Pure Beauty, Director of Raytech Holdings Company Limited, and Executive Director of Zhongshan Raytech &lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: White"&gt; &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;Zhongshan Raytech Electric Appliances Manufacturing Company Limited (&#x201c;Zhongshan Raytech&#x201d;)&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;An entity controlled by Mr. Ching &lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0px"&gt;&#160;&lt;/td&gt; &lt;td style="width: 24px"&gt;a.&lt;/td&gt; &lt;td style="text-align: justify"&gt;Amount due from a director&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-weight: bold; border-bottom: Black 1.5pt solid; vertical-align: top"&gt;Name of related party&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Relationship&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Nature of transactions&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="vertical-align: top; width: 20%; text-align: left; padding-bottom: 1.5pt"&gt;Mr. Ching&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; width: 12%; text-align: center; padding-bottom: 1.5pt"&gt;Mr. Ching is a director of Pure Beauty&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; width: 30%; text-align: left; padding-bottom: 1.5pt"&gt;The receivable represented payments made on behalf of the director and shareholder by Pure Beauty. The loan agreement provides that borrowings are interest-free and are payable on demand. &lt;br/&gt; The amount was wholly settled in cash subsequently on June 28, 2024.&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;992,026&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;145,166&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;18,550&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="text-align: center; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;992,026&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;145,166&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;18,550&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: top"&gt;
    &lt;td style="width: 0px"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 24px"&gt;b.&lt;/td&gt;
    &lt;td style="text-align: justify"&gt;Accounts payable - related party&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Due to a related party consisted of the following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;Name of related party&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 1.5pt"&gt;Zhongshan Raytech&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;8,768,420&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;24,278,340&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;3,102,306&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;8,768,420&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;24,278,340&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;3,102,306&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;These accounts payable to a related party was
related to products we purchased from this related party. See &#x201c;&#x2014;Purchase from a Related Party&#x201d; for more information.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;i&gt;Related party transactions&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="width: 0px"&gt;&#160;&lt;/td&gt; &lt;td style="width: 24px"&gt;c.&lt;/td&gt; &lt;td style="text-align: justify"&gt;Purchase products from a related party&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;
&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the years ended March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; font-style: italic"&gt;Name of a related party&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: left; padding-bottom: 1.5pt"&gt;Zhongshan Raytech&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;24,221,784&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;28,301,082&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;47,704,656&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;6,095,741&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;24,221,784&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;28,301,082&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;47,704,656&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;6,095,741&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:RelatedPartyTransactionsDisclosureTextBlock>
    <us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock contextRef="c21" id="ixv-20277">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company&#x2019;s relationships with related
parties who had transactions with the Company are summarized as follows:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"&gt;&lt;b&gt;&#160;&lt;/b&gt;&lt;/p&gt;

&lt;table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: top"&gt; &lt;td style="text-indent: -0.125in; padding-left: 0.125in; border-bottom: black 1.5pt solid; width: 49%; text-align: justify"&gt;&lt;b&gt;Related Party Name&lt;/b&gt;&lt;/td&gt; &lt;td style="width: 2%"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: black 1.5pt solid; width: 49%; text-align: center"&gt;&lt;b&gt;Relationship to the Company&lt;/b&gt;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: rgb(204,238,255)"&gt; &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;Mr. Ching Tim Hoi (&#x201c;Mr. Ching&#x201d;)&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify"&gt;Controlling shareholder, CEO and Chairman of the Company and Director of Pure Beauty, Director of Raytech Holdings Company Limited, and Executive Director of Zhongshan Raytech &lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: top; background-color: White"&gt; &lt;td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify"&gt;Zhongshan Raytech Electric Appliances Manufacturing Company Limited (&#x201c;Zhongshan Raytech&#x201d;)&lt;/td&gt; &lt;td&gt;&#160;&lt;/td&gt; &lt;td&gt;An entity controlled by Mr. Ching &lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;</us-gaap:ScheduleOfRelatedPartyTransactionsTableTextBlock>
    <us-gaap:RelatedPartyTransactionDescriptionOfTransaction contextRef="c119" id="ixv-22621">Controlling shareholder, CEO and Chairman of the Company and Director of Pure Beauty, Director of Raytech Holdings Company Limited, and Executive Director of Zhongshan Raytech</us-gaap:RelatedPartyTransactionDescriptionOfTransaction>
    <us-gaap:RelatedPartyTransactionDescriptionOfTransaction contextRef="c120" id="ixv-22622">An entity controlled by Mr. Ching</us-gaap:RelatedPartyTransactionDescriptionOfTransaction>
    <ray:ScheduleOfAmountDueFromADirectorTableTextBlock contextRef="c21" id="ixv-22623">Amount due from a director&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March 31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: left; font-weight: bold; border-bottom: Black 1.5pt solid; vertical-align: top"&gt;Name of related party&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center"&gt;Relationship&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;Nature of transactions&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom"&gt; &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt; &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt; &lt;td style="vertical-align: top; width: 20%; text-align: left; padding-bottom: 1.5pt"&gt;Mr. Ching&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; width: 12%; text-align: center; padding-bottom: 1.5pt"&gt;Mr. Ching is a director of Pure Beauty&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="vertical-align: top; width: 30%; text-align: left; padding-bottom: 1.5pt"&gt;The receivable represented payments made on behalf of the director and shareholder by Pure Beauty. The loan agreement provides that borrowings are interest-free and are payable on demand. &lt;br/&gt; The amount was wholly settled in cash subsequently on June 28, 2024.&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;992,026&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;145,166&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;18,550&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;tr style="vertical-align: bottom; background-color: White"&gt; &lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="text-align: center; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="text-align: justify; padding-bottom: 2.5pt"&gt;&lt;b&gt;Total&lt;/b&gt;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;992,026&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;145,166&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt; &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;18,550&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt; &lt;/table&gt;</ray:ScheduleOfAmountDueFromADirectorTableTextBlock>
    <ray:RelatedPartyTransactionDescriptionOfRelationship contextRef="c121" id="ixv-22624">Mr. Ching is a director of Pure Beauty</ray:RelatedPartyTransactionDescriptionOfRelationship>
    <us-gaap:RelatedPartyTransactionDescriptionOfTransaction contextRef="c121" id="ixv-20350">The receivable represented payments made on behalf of the director and shareholder by Pure Beauty. The loan agreement provides that borrowings are interest-free and are payable on demand.  The amount was wholly settled in cash subsequently on June 28, 2024.</us-gaap:RelatedPartyTransactionDescriptionOfTransaction>
    <us-gaap:OtherReceivables contextRef="c122" decimals="0" id="ixv-22625" unitRef="hkd">992026</us-gaap:OtherReceivables>
    <us-gaap:OtherReceivables contextRef="c123" decimals="0" id="ixv-22626" unitRef="hkd">145166</us-gaap:OtherReceivables>
    <us-gaap:OtherReceivables contextRef="c123" decimals="0" id="ixv-22627" unitRef="usd">18550</us-gaap:OtherReceivables>
    <us-gaap:RelatedPartyTransactionDescriptionOfTransaction contextRef="c21" id="ixv-20370">Total</us-gaap:RelatedPartyTransactionDescriptionOfTransaction>
    <us-gaap:OtherReceivables contextRef="c6" decimals="0" id="ixv-22628" unitRef="hkd">992026</us-gaap:OtherReceivables>
    <us-gaap:OtherReceivables contextRef="c2" decimals="0" id="ixv-22629" unitRef="hkd">145166</us-gaap:OtherReceivables>
    <us-gaap:OtherReceivables contextRef="c2" decimals="0" id="ixv-22630" unitRef="usd">18550</us-gaap:OtherReceivables>
    <ray:ScheduleOfDueToARelatedPartyConsistedTableTextBlock contextRef="c21" id="ixv-20406">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;Due to a related party consisted of the following:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold"&gt;Name of related party&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; text-align: left; padding-bottom: 1.5pt"&gt;Zhongshan Raytech&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;8,768,420&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;24,278,340&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;3,102,306&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;8,768,420&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;24,278,340&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;3,102,306&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ray:ScheduleOfDueToARelatedPartyConsistedTableTextBlock>
    <us-gaap:OtherLiabilitiesCurrent contextRef="c124" decimals="0" id="ixv-22631" unitRef="hkd">8768420</us-gaap:OtherLiabilitiesCurrent>
    <us-gaap:OtherLiabilitiesCurrent contextRef="c125" decimals="0" id="ixv-22632" unitRef="hkd">24278340</us-gaap:OtherLiabilitiesCurrent>
    <us-gaap:OtherLiabilitiesCurrent contextRef="c125" decimals="0" id="ixv-22633" unitRef="usd">3102306</us-gaap:OtherLiabilitiesCurrent>
    <us-gaap:OtherLiabilitiesCurrent contextRef="c7" decimals="0" id="ixv-22634" unitRef="hkd">8768420</us-gaap:OtherLiabilitiesCurrent>
    <us-gaap:OtherLiabilitiesCurrent contextRef="c4" decimals="0" id="ixv-22635" unitRef="hkd">24278340</us-gaap:OtherLiabilitiesCurrent>
    <us-gaap:OtherLiabilitiesCurrent contextRef="c4" decimals="0" id="ixv-22636" unitRef="usd">3102306</us-gaap:OtherLiabilitiesCurrent>
    <ray:ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock contextRef="c21" id="ixv-22637">Purchase products from a related party&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;For the years ended March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2022&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="font-weight: bold; font-style: italic"&gt;Name of a related party&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 52%; text-align: left; padding-bottom: 1.5pt"&gt;Zhongshan Raytech&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;24,221,784&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;28,301,082&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;47,704,656&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 1.5pt solid; text-align: right"&gt;6,095,741&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;Total&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;24,221,784&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;28,301,082&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;47,704,656&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;6,095,741&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</ray:ScheduleOfPurchaseProductsFromARelatedPartyTableTextBlock>
    <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty contextRef="c126" decimals="0" id="ixv-22638" unitRef="hkd">24221784</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
    <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty contextRef="c127" decimals="0" id="ixv-22639" unitRef="hkd">28301082</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
    <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty contextRef="c128" decimals="0" id="ixv-22640" unitRef="hkd">47704656</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
    <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty contextRef="c128" decimals="0" id="ixv-22641" unitRef="usd">6095741</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
    <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty contextRef="c19" decimals="0" id="ixv-22642" unitRef="hkd">24221784</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
    <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty contextRef="c20" decimals="0" id="ixv-22643" unitRef="hkd">28301082</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
    <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty contextRef="c21" decimals="0" id="ixv-22644" unitRef="hkd">47704656</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
    <us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty contextRef="c21" decimals="0" id="ixv-22645" unitRef="usd">6095741</us-gaap:RelatedPartyTransactionPurchasesFromRelatedParty>
    <us-gaap:StockholdersEquityNoteDisclosureTextBlock contextRef="c21" id="ixv-20577">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 11 &#x2014; EQUITY&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;i&gt;Ordinary shares&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;On August 2, 2022, 100 ordinary shares of the
Company were issued to the participating shareholders in connection with the restructuring of the Company.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;On May 10, 2023, the Company effected a share
split of all issued and outstanding shares of 100 shares at a ratio of 1-to-160,000. As a result of the share split, the Company now has
16,000,000 common shares issued and outstanding as of the date hereof. The Company believed it is appropriate to reflect the above transactions
on a retroactive basis similar to a share split or dividend pursuant to ASC 260. All references made to share or per share amounts in
the accompanying consolidated financial statements and applicable disclosures have been retroactively adjusted to reflect the 160,000
for 1 share split.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;i&gt;Dividend&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&lt;i&gt;&#160;&lt;/i&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;During the years ended March 31, 2023 and 2024,
the Company has not declared any dividend.&lt;/p&gt;</us-gaap:StockholdersEquityNoteDisclosureTextBlock>
    <us-gaap:CommonStockSharesIssued
      contextRef="c129"
      decimals="0"
      id="ixv-22646"
      unitRef="shares">100</us-gaap:CommonStockSharesIssued>
    <us-gaap:StockIssuedDuringPeriodSharesStockSplits
      contextRef="c130"
      decimals="0"
      id="ixv-22647"
      unitRef="shares">100</us-gaap:StockIssuedDuringPeriodSharesStockSplits>
    <us-gaap:StockholdersEquityNoteStockSplit contextRef="c21" id="ixv-22648">1-to-160,000</us-gaap:StockholdersEquityNoteStockSplit>
    <us-gaap:CommonStockSharesIssued
      contextRef="c131"
      decimals="0"
      id="ixv-22649"
      unitRef="shares">16000000</us-gaap:CommonStockSharesIssued>
    <us-gaap:CommonStockSharesOutstanding
      contextRef="c131"
      decimals="0"
      id="ixv-22650"
      unitRef="shares">16000000</us-gaap:CommonStockSharesOutstanding>
    <us-gaap:StockholdersEquityReverseStockSplit contextRef="c21" id="ixv-22651">160,000
for 1</us-gaap:StockholdersEquityReverseStockSplit>
    <us-gaap:CommitmentsAndContingenciesDisclosureTextBlock contextRef="c21" id="ixv-20597">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;b&gt;Note 12 &#x2014; COMMITMENTS AND CONTINGENCIES&lt;/b&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&lt;span style="text-decoration:underline"&gt;Lease Commitments&lt;/span&gt;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company determines if a contract contains
a lease at inception. US GAAP requires that the Company&#x2019;s leases be evaluated and classified as operating or finance leases for
financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation
includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods
when the exercise of the renewal option is reasonably certain and failure to exercise such option which results in an economic penalty.&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;&#160;&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The Company has one property lease agreement with
lease terms for one year. The Company&#x2019;s lease agreements do not contain any material residual value guarantees or material restrictive
covenants. Upon adoption of ASU 2016-02, no right-of-use (&#x201c;ROU&#x201d;) assets nor lease liability was recorded for the lease with
a lease term with one year.&lt;/p&gt;&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The following table shows amounts recognized in
the consolidated balance sheet:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;As of March&#160;31,&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2023&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid"&gt;2024&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td style="text-align: center"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;HKD&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;
    &lt;td colspan="2" style="font-weight: bold; text-align: center"&gt;US$&lt;/td&gt;&lt;td style="font-weight: bold"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="width: 64%; font-weight: bold; text-align: left; padding-bottom: 2.5pt"&gt;Right-of-use assets&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;85,477&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-133"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="width: 1%; border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="width: 9%; border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-134"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="font-weight: bold; text-align: left"&gt;Operating lease liabilities&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td&gt;Current&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;87,972&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-135"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td&gt;&#160;&lt;/td&gt;
    &lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-136"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: rgb(204,238,255)"&gt;
    &lt;td style="padding-bottom: 1.5pt"&gt;Non-current&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-137"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-138"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 1.5pt solid; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 1.5pt solid; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-139"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 1.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;tr style="vertical-align: bottom; background-color: White"&gt;
    &lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"&gt;87,972&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-140"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt"&gt;&#160;&lt;/td&gt;
    &lt;td style="border-bottom: Black 4pt double; text-align: left"&gt;&#160;&lt;/td&gt;&lt;td style="border-bottom: Black 4pt double; text-align: right"&gt;&lt;div style="-sec-ix-hidden: hidden-fact-141"&gt;&#x2013;&lt;/div&gt;&lt;/td&gt;&lt;td style="padding-bottom: 2.5pt; text-align: left"&gt;&#160;&lt;/td&gt;&lt;/tr&gt;
  &lt;/table&gt;</us-gaap:CommitmentsAndContingenciesDisclosureTextBlock>
    <us-gaap:LesseeOperatingLeaseRenewalTerm contextRef="c132" id="ixv-22652">P1Y</us-gaap:LesseeOperatingLeaseRenewalTerm>
    <us-gaap:LesseeOperatingLeaseRenewalTerm contextRef="c2" id="ixv-22653">P1Y</us-gaap:LesseeOperatingLeaseRenewalTerm>
    <srt:ScheduleOfCondensedBalanceSheetTableTextBlock contextRef="c21" id="ixv-20622">&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"&gt;The following table shows amounts recognized in
the consolidated balance sheet:&lt;/p&gt;

&lt;p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"&gt;&#160;&lt;/p&gt;

&lt;table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"&gt;
  &lt;tr style="vertical-align: bottom"&gt;
    &lt;td&gt;&#160;&lt;/td&gt;&lt;td style="font-weight: bold; padding-bottom: 1.5pt"&gt;&#160;&lt;/td&gt;
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</head>
<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Document And Entity Information<br></strong></div></th>
<th class="th" colspan="1">6 Months Ended</th>
</tr>
<tr><th class="th"><div>Sep. 30, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information Line Items</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityCentralIndexKey', window );">Entity Central Index Key</a></td>
<td class="text">0001948443<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentDescription', window );">Amendment Description</a></td>
<td class="text">AMENDMENT NO. 1<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentType', window );">Document Type</a></td>
<td class="text">F-1/A<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityRegistrantName', window );">Entity Registrant Name</a></td>
<td class="text">RAYTECH HOLDING LIMITED<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityIncorporationStateCountryCode', window );">Entity Incorporation, State or Country Code</a></td>
<td class="text">D8<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">3630<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">Unit 609, 6/F, Nan Fung Commercial Centre<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">No. 19 Lam Lok Street, Kowloon Bay<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCountry', window );">Entity Address, Country</a></td>
<td class="text">HK<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Hong
Kong<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">+852<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">2117 0236<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityEmergingGrowthCompany', window );">Entity Emerging Growth Company</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityExTransitionPeriod', window );">Entity Ex Transition Period</a></td>
<td class="text">false<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_AmendmentFlag', window );">Amendment Flag</a></td>
<td class="text">true<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember', window );">Business Contact</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_DocumentInformationLineItems', window );"><strong>Document Information Line Items</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressPostalZipCode', window );">Entity Address, Postal Zip Code</a></td>
<td class="text">19711<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine1', window );">Entity Address, Address Line One</a></td>
<td class="text">850 Library Ave.<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressAddressLine2', window );">Entity Address, Address Line Two</a></td>
<td class="text">Suite 204<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressCityOrTown', window );">Entity Address, City or Town</a></td>
<td class="text">Newark<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_CityAreaCode', window );">City Area Code</a></td>
<td class="text">(302)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_LocalPhoneNumber', window );">Local Phone Number</a></td>
<td class="text">738-6680<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_ContactPersonnelName', window );">Contact Personnel Name</a></td>
<td class="text">Puglisi & Associates<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_dei_EntityAddressStateOrProvince', window );">Entity Address, State or Province</a></td>
<td class="text">DE<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentDescription">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of changes contained within amended document.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentDescription</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_AmendmentFlag">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Boolean flag that is true when the XBRL content amends previously-filed or accepted submission.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_AmendmentFlag</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_CityAreaCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Area code of city</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_CityAreaCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_ContactPersonnelName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of contact personnel</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_ContactPersonnelName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentInformationLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentInformationLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_DocumentType">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_DocumentType</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:submissionTypeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 1 such as Attn, Building Name, Street Name</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressAddressLine2">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Address Line 2 such as Street or Suite number</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressAddressLine2</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCityOrTown">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the City or Town</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCityOrTown</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressCountry">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>ISO 3166-1 alpha-2 country code.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressCountry</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:countryCodeItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressPostalZipCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Code for the postal or zip code</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressPostalZipCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressStateOrProvince">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Name of the state or province.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressStateOrProvince</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:stateOrProvinceItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityCentralIndexKey">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityCentralIndexKey</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:centralIndexKeyItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityEmergingGrowthCompany">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if registrant meets the emerging growth company criteria.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityEmergingGrowthCompany</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityExTransitionPeriod">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Indicate if an emerging growth company has elected not to use the extended transition period for complying with any new or revised financial accounting standards.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Securities Act<br> -Number 7A<br> -Section B<br> -Subsection 2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityExTransitionPeriod</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:booleanItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityIncorporationStateCountryCode">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Two-character EDGAR code representing the state or country of incorporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityIncorporationStateCountryCode</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dei:edgarStateCountryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityRegistrantName">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/presentationRef<br> -Publisher SEC<br> -Name Exchange Act<br> -Number 240<br> -Section 12<br> -Subsection b-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityRegistrantName</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_LocalPhoneNumber">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Local phone number for entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_LocalPhoneNumber</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>dei_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:normalizedStringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">dei_EntityAddressesAddressTypeAxis=dei_BusinessContactMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>86
<FILENAME>R2.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Balance Sheets<br></strong></div></th>
<th class="th" colspan="2">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th" colspan="2">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th" colspan="2">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrentAbstract', window );"><strong>CURRENT ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 81,047,102<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 10,431,712<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 35,885,666<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 4,585,500<span></span>
</td>
<td class="nump">$ 21,362,580<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net</a></td>
<td class="nump">13,476,241<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,734,550<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">14,557,523<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,860,172<span></span>
</td>
<td class="nump">6,787,330<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherReceivables', window );">Amount due from a director</a></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">145,166<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">18,550<span></span>
</td>
<td class="nump">992,026<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_MerchandiseInventoriesNet', window );">Merchandise inventories, net</a></td>
<td class="nump">1,135,068<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">146,096<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,855,686<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">237,121<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_TaxesReceivable', window );">Taxes receivables</a></td>
<td class="nump">104,085<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">13,397<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">395,005<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">50,474<span></span>
</td>
<td class="nump">514,007<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PrepaidExpenseCurrent', window );">Prepayments</a></td>
<td class="nump">5,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">644<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">639<span></span>
</td>
<td class="nump">95,000<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsCurrent', window );">TOTAL CURRENT ASSETS</a></td>
<td class="nump">95,767,496<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,326,399<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">52,844,046<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">6,752,456<span></span>
</td>
<td class="nump">29,750,943<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsNoncurrentAbstract', window );"><strong>NON-CURRENT ASSETS</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="nump">4,868<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAsset', window );">Right-of-use assets &#8211; operating lease</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="nump">85,477<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredCosts', window );">Deferred initial public offering costs</a></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,252,768<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">671,203<span></span>
</td>
<td class="nump">3,176,871<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepositsAssetsNoncurrent', window );">Long-term deposits</a></td>
<td class="nump">16,200<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,085<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,200<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,070<span></span>
</td>
<td class="nump">34,200<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AssetsNoncurrent', window );">TOTAL NON-CURRENT ASSETS</a></td>
<td class="nump">16,200<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,085<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">5,268,968<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">673,273<span></span>
</td>
<td class="nump">3,301,416<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Assets', window );">TOTAL ASSETS</a></td>
<td class="nump">95,783,696<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,328,484<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">58,113,014<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">7,425,729<span></span>
</td>
<td class="nump">33,052,359<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>CURRENT LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableCurrent', window );">Accounts payable</a></td>
<td class="nump">1,098,929<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">141,445<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">732,340<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">93,579<span></span>
</td>
<td class="nump">735,528<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Accruals</a></td>
<td class="nump">920,901<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">118,531<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,018,618<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">130,160<span></span>
</td>
<td class="nump">616,078<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityCurrent', window );">Contract liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,008,415<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">128,856<span></span>
</td>
<td class="nump">1,705,854<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityCurrent', window );">Operating lease obligation, current portion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="nump">87,972<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrent', window );">TOTAL CURRENT LIABILITIES</a></td>
<td class="nump">22,438,011<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,888,035<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">27,037,713<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,454,901<span></span>
</td>
<td class="nump">11,913,852<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityNoncurrent', window );">Operating lease obligation, net of current portion</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Liabilities', window );">TOTAL LIABILITIES</a></td>
<td class="nump">22,438,011<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">2,888,035<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">27,037,713<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,454,901<span></span>
</td>
<td class="nump">11,913,852<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingencies', window );">COMMITMENTS AND CONTINGENCIES</a></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityAbstract', window );"><strong>SHAREHOLDERS&#8217; EQUITY</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockValue', window );">Ordinary Shares</a></td>
<td class="nump">862<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">110<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">100<span></span>
</td>
<td class="nump">783<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdditionalPaidInCapitalCommonStock', window );">Additional paid-in capital</a></td>
<td class="nump">37,717,487<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">4,854,683<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,678<span></span>
</td>
<td class="nump">99,217<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RetainedEarningsAccumulatedDeficit', window );">Retained earnings</a></td>
<td class="nump">35,627,336<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">4,585,656<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">30,975,301<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,958,050<span></span>
</td>
<td class="nump">21,038,507<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">TOTAL SHAREHOLDERS&#8217; EQUITY</a></td>
<td class="nump">73,345,685<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">9,440,449<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">31,075,301<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">3,970,828<span></span>
</td>
<td class="nump">21,138,507<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesAndStockholdersEquity', window );">TOTAL LIABILITIES AND SHAREHOLDERS&#8217; EQUITY</a></td>
<td class="nump">95,783,696<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">12,328,484<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">58,113,014<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">7,425,729<span></span>
</td>
<td class="nump">33,052,359<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=us-gaap_RelatedPartyMember', window );">Related Party</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LiabilitiesCurrentAbstract', window );"><strong>CURRENT LIABILITIES</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesCurrent', window );">Accounts payable - related party</a></td>
<td class="nump">$ 20,418,181<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 2,628,059<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 24,278,340<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 3,102,306<span></span>
</td>
<td class="nump">$ 8,768,420<span></span>
</td>
</tr>
<tr><td colspan="9"></td></tr>
<tr><td colspan="9"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_MerchandiseInventoriesNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of merchandise inventories, net.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_MerchandiseInventoriesNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_TaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of taxes receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_TaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsPayableCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(19)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsPayableCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNetCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNetCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccruedLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccruedLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdditionalPaidInCapitalCommonStock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Value received from shareholders in common stock-related transactions that are in excess of par value or stated value and amounts received from other stock-related transactions. Includes only common stock transactions (excludes preferred stock transactions). May be called contributed capital, capital in excess of par, capital surplus, or paid-in capital.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdditionalPaidInCapitalCommonStock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Assets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset recognized for present right to economic benefit.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Assets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset recognized for present right to economic benefit, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 810<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 810<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481231/810-10-45-25<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 4: 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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsCurrentAbstract</td>
</tr>
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<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 810<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (bb)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 810<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481231/810-10-45-25<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 4: 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-Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iii)(A))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1A<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1A<br> -Subparagraph (SX 210.13-01(a)(4)(iv))<br> -Publisher FASB<br> -URI 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http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iii)(B))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 15: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(4)(iv))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 16: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 470<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1B<br> -Subparagraph (SX 210.13-02(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B<br><br>Reference 17: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481404/852-10-50-7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AssetsNoncurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AssetsNoncurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483467/210-10-45-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommitmentsAndContingencies">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(25))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingencies</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Aggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(22))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479837/606-10-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-8<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479837/606-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred cost, excluding capitalized cost related to contract with customer; classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-03(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478546/942-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepositsAssetsNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value of amounts transferred to third parties for security purposes that are expected to be returned or applied towards payment after one year or beyond the operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepositsAssetsNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Liabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liability recognized for present obligation requiring transfer or otherwise providing economic benefit to others.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LiabilitiesCurrentAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LiabilitiesCurrentAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479041/842-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479041/842-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseRightOfUseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's right to use underlying asset under operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479041/842-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseRightOfUseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherReceivables">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from parties in nontrade transactions, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 49<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-49<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(5)(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherReceivables</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PrepaidExpenseCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of asset related to consideration paid in advance for costs that provide economic benefits within a future period of one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483467/210-10-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 340<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 05<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482955/340-10-05-5<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 340<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483032/340-10-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PrepaidExpenseCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 360<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 360<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478451/942-360-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RetainedEarningsAccumulatedDeficit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated undistributed earnings (deficit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30)(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (g)(2)(i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 40<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 2<br> -Subparagraph (h)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480016/944-40-65-2<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480990/946-20-50-11<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(23)(a)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(17))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RetainedEarningsAccumulatedDeficit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockholdersEquity">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(30))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(31))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 5: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-12<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(19))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br><br>Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(6))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(g)(1)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 323<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3<br><br>Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 825<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 28<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-28<br><br>Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 4.E)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480418/310-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td></td>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares<br></strong></div></th>
<th class="th"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
<th class="th"><div>Mar. 31, 2023</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StatementOfFinancialPositionAbstract', window );"><strong>Statement of Financial Position [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
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<td class="nump">$ 0.00000625<span></span>
</td>
<td class="nump">$ 0.00000625<span></span>
</td>
<td class="nump">$ 0.00000625<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesAuthorized', window );">Ordinary Shares, Authorized</a></td>
<td class="nump">8,000,000,000<span></span>
</td>
<td class="nump">8,000,000,000<span></span>
</td>
<td class="nump">8,000,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Ordinary Shares, shares issued</a></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Ordinary Shares, shares outstanding</a></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockParOrStatedValuePerShare">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Face amount or stated value per share of common stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockParOrStatedValuePerShare</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesAuthorized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The maximum number of common shares permitted to be issued by an entity's charter and bylaws.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(16)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesAuthorized</td>
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<td>xbrli:sharesItemType</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesIssued</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(16)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StatementOfFinancialPositionAbstract</td>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="2" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Income<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Sep. 30, 2023 </div>
<div>HKD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>HKD ($) </div>
<div>$ / shares </div>
<div>shares</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>REVENUE</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 43,248,906<span></span>
</td>
<td class="nump">$ 5,566,641<span></span>
</td>
<td class="nump">$ 33,017,199<span></span>
</td>
<td class="nump">$ 66,972,301<span></span>
</td>
<td class="nump">$ 8,557,776<span></span>
</td>
<td class="nump">$ 45,518,239<span></span>
</td>
<td class="nump">$ 45,105,917<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpensesAbstract', window );"><strong>OPERATING EXPENSES</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_MerchandiseCosts', window );">Merchandise costs</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(34,100,724)<span></span>
</td>
<td class="num">(4,389,163)<span></span>
</td>
<td class="num">(24,305,564)<span></span>
</td>
<td class="num">(52,067,436)<span></span>
</td>
<td class="num">(6,653,220)<span></span>
</td>
<td class="num">(34,046,287)<span></span>
</td>
<td class="num">(33,001,491)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpense', window );">Selling, general and administrative expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(5,229,459)<span></span>
</td>
<td class="num">(673,093)<span></span>
</td>
<td class="num">(1,751,531)<span></span>
</td>
<td class="num">(3,545,369)<span></span>
</td>
<td class="num">(453,030)<span></span>
</td>
<td class="num">(4,277,677)<span></span>
</td>
<td class="num">(1,379,989)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingExpenses', window );">Total operating expenses</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(39,330,183)<span></span>
</td>
<td class="num">(5,062,256)<span></span>
</td>
<td class="num">(26,057,095)<span></span>
</td>
<td class="num">(55,612,805)<span></span>
</td>
<td class="num">(7,106,250)<span></span>
</td>
<td class="num">(38,323,964)<span></span>
</td>
<td class="num">(34,381,480)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingIncomeLoss', window );">INCOME FROM OPERATIONS</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">3,918,723<span></span>
</td>
<td class="nump">504,385<span></span>
</td>
<td class="nump">6,960,104<span></span>
</td>
<td class="nump">11,359,496<span></span>
</td>
<td class="nump">1,451,526<span></span>
</td>
<td class="nump">7,194,275<span></span>
</td>
<td class="nump">10,724,437<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpenseAbstract', window );"><strong>OTHER INCOME (EXPENSE)</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InvestmentIncomeInterest', window );">Interest income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,431,474<span></span>
</td>
<td class="nump">184,248<span></span>
</td>
<td class="nump">615,405<span></span>
</td>
<td class="nump">1,416,354<span></span>
</td>
<td class="nump">180,983<span></span>
</td>
<td class="nump">143,352<span></span>
</td>
<td class="nump">327<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestExpenseNonoperating', window );">Interest expense</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,657)<span></span>
</td>
<td class="num">(2,028)<span></span>
</td>
<td class="num">(259)<span></span>
</td>
<td class="num">(7,151)<span></span>
</td>
<td class="num">(1,676)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax', window );">Loss from foreign currency exchange</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(407,242)<span></span>
</td>
<td class="num">(52,417)<span></span>
</td>
<td class="num">(16,334)<span></span>
</td>
<td class="num">(20,846)<span></span>
</td>
<td class="num">(2,664)<span></span>
</td>
<td class="nump">143,450<span></span>
</td>
<td class="nump">452<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NonoperatingIncomeExpense', window );">Total other income, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">1,024,232<span></span>
</td>
<td class="nump">131,831<span></span>
</td>
<td class="nump">597,414<span></span>
</td>
<td class="nump">1,394,298<span></span>
</td>
<td class="nump">178,165<span></span>
</td>
<td class="nump">279,651<span></span>
</td>
<td class="nump">455,941<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_GovernmentGrants', window );">Government grants</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">452,250<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherNonoperatingIncome', window );">Other income, net</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">818<span></span>
</td>
<td class="nump">105<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">4,588<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest', window );">INCOME BEFORE INCOME TAX PROVISION</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">4,942,955<span></span>
</td>
<td class="nump">636,216<span></span>
</td>
<td class="nump">7,557,518<span></span>
</td>
<td class="nump">12,753,794<span></span>
</td>
<td class="nump">1,629,691<span></span>
</td>
<td class="nump">7,473,926<span></span>
</td>
<td class="nump">11,180,378<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_IncomeTaxExpensesBenefit', window );">PROVISION FOR INCOME TAXES</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="num">(290,920)<span></span>
</td>
<td class="num">(37,445)<span></span>
</td>
<td class="num">(1,139,449)<span></span>
</td>
<td class="num">(2,817,000)<span></span>
</td>
<td class="num">(359,959)<span></span>
</td>
<td class="num">(1,181,056)<span></span>
</td>
<td class="num">(1,739,988)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">NET INCOME</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 4,652,035<span></span>
</td>
<td class="nump">$ 598,771<span></span>
</td>
<td class="nump">$ 6,418,069<span></span>
</td>
<td class="nump">$ 9,936,794<span></span>
</td>
<td class="nump">$ 1,269,732<span></span>
</td>
<td class="nump">$ 6,292,870<span></span>
</td>
<td class="nump">$ 9,440,390<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract', window );"><strong>WEIGHTED AVERAGE NUMBER OF ORDINARY SHARES</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic', window );">Basic (in Shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">17,184,908<span></span>
</td>
<td class="nump">17,184,908<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding', window );">Diluted (in Shares)</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">17,184,908<span></span>
</td>
<td class="nump">17,184,908<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareAbstract', window );"><strong>EARNINGS PER SHARE</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareBasic', window );">Basic (in Dollars per share and Dollars per share) | (per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 0.27<span></span>
</td>
<td class="nump">$ 0.03<span></span>
</td>
<td class="nump">$ 0.4<span></span>
</td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="nump">$ 0.39<span></span>
</td>
<td class="nump">$ 0.59<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerShareDiluted', window );">Diluted (in Dollars per share and Dollars per share) | (per share)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 0.27<span></span>
</td>
<td class="nump">$ 0.03<span></span>
</td>
<td class="nump">$ 0.4<span></span>
</td>
<td class="nump">$ 0.62<span></span>
</td>
<td class="nump">$ 0.08<span></span>
</td>
<td class="nump">$ 0.39<span></span>
</td>
<td class="nump">$ 0.59<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_SalesOfProductsMember', window );">Sales of products</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>REVENUE</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 42,101,829<span></span>
</td>
<td class="nump">$ 5,418,999<span></span>
</td>
<td class="nump">$ 26,011,185<span></span>
</td>
<td class="nump">$ 59,966,287<span></span>
</td>
<td class="nump">$ 7,662,542<span></span>
</td>
<td class="nump">$ 42,382,764<span></span>
</td>
<td class="nump">$ 45,105,917<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_SalesOfToolingMember', window );">Sales of Tooling</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenuesAbstract', window );"><strong>REVENUE</strong></a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Sales</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 1,147,077<span></span>
</td>
<td class="nump">$ 147,642<span></span>
</td>
<td class="nump">$ 7,006,014<span></span>
</td>
<td class="nump">7,006,014<span></span>
</td>
<td class="nump">895,234<span></span>
</td>
<td class="nump">3,135,475<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total revenue</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 66,972,301<span></span>
</td>
<td class="nump">$ 8,557,776<span></span>
</td>
<td class="nump">$ 45,518,239<span></span>
</td>
<td class="nump">$ 45,105,917<span></span>
</td>
</tr>
<tr><td colspan="8"></td></tr>
<tr><td colspan="8"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_GovernmentGrants">
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of government grants.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_GovernmentGrants</td>
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<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_IncomeTaxExpensesBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_IncomeTaxExpensesBenefit</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of merchandise costs.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_MerchandiseCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
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<tr>
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<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareBasic</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EarningsPerShareDiluted">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerShareDiluted</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:perShareItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before tax, of realized and unrealized gain (loss) from foreign currency transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 35<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482014/830-20-35-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481956/830-20-45-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481926/830-20-50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 17<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481839/830-10-45-17<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 48<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-04(11))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477250/944-220-S99-1<br><br>Reference 9: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 31<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-31<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 235<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-05(b)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477314/942-235-S99-1<br><br>Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(10))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(15))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestExpenseNonoperating">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of interest expense classified as nonoperating.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InterestExpenseNonoperating</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InvestmentIncomeInterest">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 48<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-48<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(7)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InvestmentIncomeInterest</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-6<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 250<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483443/250-10-50-9<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 805<br> -SubTopic 60<br> -Name Accounting Standards Codification<br> -Section 65<br> -Paragraph 1<br> -Subparagraph (g)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147476176/805-60-65-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 323<br> -Name 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http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 60B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-60B<br><br>Reference 33: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 205<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483499/205-20-50-7<br><br>Reference 34: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 35: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1A<br><br>Reference 36: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1B<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482790/220-10-45-1B<br><br>Reference 37: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 942<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.9-04(22))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478524/942-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NonoperatingIncomeExpenseAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpenses</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingExpensesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingExpensesAbstract</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The net result for the period of deducting operating expenses from operating revenues.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingIncomeLoss</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherNonoperatingIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of income related to nonoperating activities, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(7)(d))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherNonoperatingIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 924<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 11.L)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 42<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 40<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
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<td>credit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenuesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpense</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 16<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-16<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding</td>
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<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasic">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482689/260-10-45-10<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasic</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
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<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_WeightedAverageNumberOfSharesOutstandingBasicAbstract</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=ray_SalesOfProductsMember</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
<td></td>
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<td></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="2" rowspan="1"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Changes in Shareholders&#8217; Equity<br></strong></div></th>
<th class="th" colspan="2">
<div>Ordinary shares </div>
<div>HKD ($) </div>
<div>shares</div>
</th>
<th class="th" colspan="2">
<div>Ordinary shares </div>
<div>USD ($) </div>
<div>shares</div>
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<th class="th">
<div>Additional Paid-in Capital </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Additional Paid-in Capital </div>
<div>USD ($)</div>
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<th class="th">
<div>Retained Earnings </div>
<div>HKD ($)</div>
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<div>USD ($)</div>
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<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,863,247<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,963,247<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2021 | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,863,247<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,963,247<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) at Mar. 31, 2021 | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,440,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,440,390<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Dividends', window );">Dividends distribution | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,558,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(1,558,000)<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2022 | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,745,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,845,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) at Mar. 31, 2022 | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance (in Dollars) | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,745,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">14,845,637<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,292,870<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,292,870<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2023 | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,038,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,138,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) at Mar. 31, 2023 | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance (in Dollars) | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,038,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,138,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">6,418,069<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 6,418,069<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Sep. 30, 2023 | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,456,576<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,556,576<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) at Sep. 30, 2023 | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2023 | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">21,038,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,138,507<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) at Mar. 31, 2023 | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">9,936,794<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 9,936,794<span></span>
</td>
<td class="nump">$ 1,269,732<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Mar. 31, 2024</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 100<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="nump">$ 12,678<span></span>
</td>
<td class="nump">30,975,301<span></span>
</td>
<td class="nump">$ 3,958,050<span></span>
</td>
<td class="nump">$ 31,075,301<span></span>
</td>
<td class="nump">$ 3,970,828<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) at Mar. 31, 2024 | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance (in Dollars) | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27,456,576<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 27,556,576<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance (in Dollars)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 783<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 100<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">99,217<span></span>
</td>
<td class="nump">12,678<span></span>
</td>
<td class="nump">30,975,301<span></span>
</td>
<td class="nump">3,958,050<span></span>
</td>
<td class="nump">$ 31,075,301<span></span>
</td>
<td class="nump">$ 3,970,828<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodValueNewIssues', window );">Initial Public Offering of shares | $</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 79<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">37,618,270<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 37,618,349<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues', window );">Initial Public Offering of shares (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">1,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">1,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="text"> <span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,652,035<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">4,652,035<span></span>
</td>
<td class="nump">$ 598,771<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance at Sep. 30, 2024</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 862<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 110<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">37,717,487<span></span>
</td>
<td class="nump">4,854,683<span></span>
</td>
<td class="nump">35,627,336<span></span>
</td>
<td class="nump">4,585,656<span></span>
</td>
<td class="nump">$ 73,345,685<span></span>
</td>
<td class="nump">$ 9,440,449<span></span>
</td>
</tr>
<tr class="rc">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) at Sep. 30, 2024 | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,613,083<span></span>
</td>
<td class="nump">17,613,083<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquity', window );">Balance (in Dollars)</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">$ 862<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 110<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">$ 37,717,487<span></span>
</td>
<td class="nump">$ 4,854,683<span></span>
</td>
<td class="nump">$ 35,627,336<span></span>
</td>
<td class="nump">$ 4,585,656<span></span>
</td>
<td class="nump">$ 73,345,685<span></span>
</td>
<td class="nump">$ 9,440,449<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesOutstanding', window );">Balance (in Shares) | shares</a></td>
<td class="th" style="border-bottom: 0px;"><sup></sup></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">17,613,083<span></span>
</td>
<td class="nump">17,613,083<span></span>
</td>
</tr>
<tr><td colspan="11"></td></tr>
<tr><td colspan="11"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.</td>
</tr></table></td></tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CommonStockSharesOutstanding">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -SubTopic 10<br> -Topic 505<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481112/505-10-50-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(29))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.6-05(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-2<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(4)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(16)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-09(7))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CommonStockSharesOutstanding</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:sharesItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Dividends">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of paid and unpaid cash, stock, and paid-in-kind (PIK) dividends declared, for example, but not limited to, common and preferred stock.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 505<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.3-04)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -SubTopic 405<br> -Topic 942<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477787/942-405-45-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Dividends</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NetIncomeLoss</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodSharesNewIssues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of new stock issued during the period.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_StockIssuedDuringPeriodValueNewIssues">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Equity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_StockholdersEquity</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td>xbrli:monetaryItemType</td>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Unaudited Interim Condensed Consolidated Statements of Cash Flows<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
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<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_CashFlowsFromOperatingActivitiesAbstract', window );"><strong>Cash flows from operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetIncomeLoss', window );">Net income</a></td>
<td class="nump">$ 4,652,035<span></span>
</td>
<td class="nump">$ 598,771<span></span>
</td>
<td class="nump">$ 6,418,069<span></span>
</td>
<td class="nump">$ 9,936,794<span></span>
</td>
<td class="nump">$ 1,269,732<span></span>
</td>
<td class="nump">$ 6,292,870<span></span>
</td>
<td class="nump">$ 9,440,390<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract', window );"><strong>Adjustments to reconcile net income to net cash provided by operating activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation of property and equipment</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,928<span></span>
</td>
<td class="nump">4,868<span></span>
</td>
<td class="nump">622<span></span>
</td>
<td class="nump">13,924<span></span>
</td>
<td class="nump">20,433<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAssetAmortizationExpense', window );">Amortization of right-of-use asset</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">51,286<span></span>
</td>
<td class="nump">85,477<span></span>
</td>
<td class="nump">10,922<span></span>
</td>
<td class="nump">102,573<span></span>
</td>
<td class="nump">17,095<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized', window );">Gain (Loss) from unrealized foreign currency translation</a></td>
<td class="nump">406,530<span></span>
</td>
<td class="nump">52,325<span></span>
</td>
<td class="nump">17,918<span></span>
</td>
<td class="num">(61,043)<span></span>
</td>
<td class="num">(7,799)<span></span>
</td>
<td class="nump">178,454<span></span>
</td>
<td class="num">(452)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract', window );"><strong>Changes in operating assets and liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsReceivable', window );">Accounts receivable, net</a></td>
<td class="nump">978,597<span></span>
</td>
<td class="nump">125,957<span></span>
</td>
<td class="num">(654,485)<span></span>
</td>
<td class="num">(7,755,205)<span></span>
</td>
<td class="num">(990,967)<span></span>
</td>
<td class="num">(907,711)<span></span>
</td>
<td class="num">(4,060,535)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInInventories', window );">Merchandise inventories, net</a></td>
<td class="nump">720,618<span></span>
</td>
<td class="nump">92,752<span></span>
</td>
<td class="num">(681,683)<span></span>
</td>
<td class="num">(1,855,686)<span></span>
</td>
<td class="num">(237,121)<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,947,812<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInPrepaidExpense', window );">Prepayments</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">54,000<span></span>
</td>
<td class="nump">90,000<span></span>
</td>
<td class="nump">11,500<span></span>
</td>
<td class="num">(5,000)<span></span>
</td>
<td class="num">(90,000)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInDepositOtherAssets', window );">Long-term deposits</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">18,000<span></span>
</td>
<td class="nump">2,300<span></span>
</td>
<td class="num">(5,200)<span></span>
</td>
<td class="num">(17,200)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableTrade', window );">Accounts payable</a></td>
<td class="nump">372,876<span></span>
</td>
<td class="nump">47,994<span></span>
</td>
<td class="num">(150,807)<span></span>
</td>
<td class="num">(5,441)<span></span>
</td>
<td class="num">(695)<span></span>
</td>
<td class="num">(119,019)<span></span>
</td>
<td class="nump">130,100<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties', window );">Accounts payable - related party</a></td>
<td class="num">(3,694,385)<span></span>
</td>
<td class="num">(475,511)<span></span>
</td>
<td class="nump">12,178,316<span></span>
</td>
<td class="nump">15,554,384<span></span>
</td>
<td class="nump">1,987,552<span></span>
</td>
<td class="nump">4,682,655<span></span>
</td>
<td class="nump">1,035,048<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedLiabilities', window );">Accruals</a></td>
<td class="num">(97,717)<span></span>
</td>
<td class="num">(12,577)<span></span>
</td>
<td class="num">(203,832)<span></span>
</td>
<td class="nump">402,540<span></span>
</td>
<td class="nump">51,437<span></span>
</td>
<td class="nump">566,078<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInContractWithCustomerLiability', window );">Contract liabilities</a></td>
<td class="num">(1,008,415)<span></span>
</td>
<td class="num">(129,795)<span></span>
</td>
<td class="num">(1,705,854)<span></span>
</td>
<td class="num">(697,439)<span></span>
</td>
<td class="num">(89,119)<span></span>
</td>
<td class="nump">1,705,854<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInOperatingLeaseLiability', window );">Operating lease obligation</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(52,344)<span></span>
</td>
<td class="num">(87,972)<span></span>
</td>
<td class="num">(11,241)<span></span>
</td>
<td class="num">(100,849)<span></span>
</td>
<td class="num">(16,324)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable', window );">Taxes receivables</a></td>
<td class="nump">290,920<span></span>
</td>
<td class="nump">37,445<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable', window );">Taxes payables</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">1,139,449<span></span>
</td>
<td class="nump">119,002<span></span>
</td>
<td class="nump">15,206<span></span>
</td>
<td class="num">(1,442,797)<span></span>
</td>
<td class="num">(177,423)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInOperatingActivities', window );">Net cash provided by operating activities</a></td>
<td class="nump">2,621,059<span></span>
</td>
<td class="nump">337,361<span></span>
</td>
<td class="nump">16,412,961<span></span>
</td>
<td class="nump">15,748,279<span></span>
</td>
<td class="nump">2,012,329<span></span>
</td>
<td class="nump">10,961,832<span></span>
</td>
<td class="nump">8,228,944<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract', window );"><strong>Cash flows from investing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsToAcquirePropertyPlantAndEquipment', window );">Purchase of property and equipment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(11,700)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RepaymentOfAmountDueFromADirector', window );">Repayment of amount due from a director</a></td>
<td class="nump">145,166<span></span>
</td>
<td class="nump">18,684<span></span>
</td>
<td class="nump">210,702<span></span>
</td>
<td class="nump">846,860<span></span>
</td>
<td class="nump">108,212<span></span>
</td>
<td class="nump">1,444,872<span></span>
</td>
<td class="nump">2,215,728<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInInvestingActivities', window );">Net cash provided by investing activities</a></td>
<td class="nump">145,166<span></span>
</td>
<td class="nump">18,684<span></span>
</td>
<td class="nump">210,702<span></span>
</td>
<td class="nump">846,860<span></span>
</td>
<td class="nump">108,212<span></span>
</td>
<td class="nump">1,444,872<span></span>
</td>
<td class="nump">2,204,028<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProceedsFromIssuanceOfCommonStock', window );">Proceed from Initial Public Offering of shares</a></td>
<td class="nump">42,772,241<span></span>
</td>
<td class="nump">5,505,289<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfInitialPublicOffering', window );">Deferred initial public offering cost</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(257,702)<span></span>
</td>
<td class="num">(2,075,897)<span></span>
</td>
<td class="num">(265,260)<span></span>
</td>
<td class="num">(3,176,871)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsOfDividends', window );">Dividend payments</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="num">(1,558,000)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivities', window );">Net cash (used in)/from financing activities</a></td>
<td class="nump">42,772,241<span></span>
</td>
<td class="nump">5,505,289<span></span>
</td>
<td class="num">(257,702)<span></span>
</td>
<td class="num">(2,075,897)<span></span>
</td>
<td class="num">(265,260)<span></span>
</td>
<td class="num">(3,176,871)<span></span>
</td>
<td class="num">(1,558,000)<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect', window );">Change in cash</a></td>
<td class="nump">45,538,466<span></span>
</td>
<td class="nump">5,861,334<span></span>
</td>
<td class="nump">16,365,961<span></span>
</td>
<td class="nump">14,519,242<span></span>
</td>
<td class="nump">1,855,281<span></span>
</td>
<td class="nump">9,229,833<span></span>
</td>
<td class="nump">8,874,972<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Effect of foreign exchange on cash</a></td>
<td class="num">(377,030)<span></span>
</td>
<td class="num">(48,528)<span></span>
</td>
<td class="nump">35,039<span></span>
</td>
<td class="nump">3,844<span></span>
</td>
<td class="nump">491<span></span>
</td>
<td class="num">(157,725)<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash at the beginning of the period</a></td>
<td class="nump">35,885,666<span></span>
</td>
<td class="nump">4,618,906<span></span>
</td>
<td class="nump">21,362,580<span></span>
</td>
<td class="nump">21,362,580<span></span>
</td>
<td class="nump">2,729,728<span></span>
</td>
<td class="nump">12,290,472<span></span>
</td>
<td class="nump">3,415,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash at the end of the period</a></td>
<td class="nump">81,047,102<span></span>
</td>
<td class="nump">10,431,712<span></span>
</td>
<td class="nump">37,763,580<span></span>
</td>
<td class="nump">35,885,666<span></span>
</td>
<td class="nump">4,618,906<span></span>
</td>
<td class="nump">21,362,580<span></span>
</td>
<td class="nump">12,290,472<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SupplementalCashFlowInformationAbstract', window );"><strong>Supplementary cash flow information</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxesPaidNet', window );">Cash paid for income tax</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">2,697,998<span></span>
</td>
<td class="nump">344,752<span></span>
</td>
<td class="nump">2,619,407<span></span>
</td>
<td class="nump">2,144,284<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InterestPaidNet', window );">Cash paid for interest expense</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RestatementAxis=srt_ScenarioPreviouslyReportedMember', window );">Previously Reported</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract', window );"><strong>Cash flows from financing activities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash at the beginning of the period</a></td>
<td class="nump">$ 35,885,666<span></span>
</td>
<td class="nump">$ 4,585,500<span></span>
</td>
<td class="nump">$ 21,362,580<span></span>
</td>
<td class="nump">21,362,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">12,290,472<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents', window );">Cash at the end of the period</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 35,885,666<span></span>
</td>
<td class="nump">$ 4,585,500<span></span>
</td>
<td class="nump">$ 21,362,580<span></span>
</td>
<td class="nump">$ 12,290,472<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_CashFlowsFromOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_CashFlowsFromOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_RepaymentOfAmountDueFromADirector">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of repayment of amount due from a director.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_RepaymentOfAmountDueFromADirector</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-8<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; excluding effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -SubTopic 230<br> -Topic 830<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477401/830-230-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) from effect of exchange rate changes on cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; held in foreign currencies. Excludes amounts for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -SubTopic 230<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477401/830-230-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainLossUnrealized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before tax, of unrealized gain (loss) from foreign currency transaction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 830<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479168/946-830-55-10<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 6<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479105/946-220-45-6<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(7)(c))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 830<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481956/830-20-45-1<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 830<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481926/830-20-50-1<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainLossUnrealized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxesPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after refund, of cash paid to foreign, federal, state, and local jurisdictions as income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2A<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-2A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 23<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-23<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-22<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxesPaidNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the obligations due for goods and services provided by the following types of related parties: a parent company and its subsidiaries, subsidiaries of a common parent, an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management, an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableRelatedParties</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsPayableTrade">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsPayableTrade</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccountsReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccountsReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the period in the amount due for taxes based on the reporting entity's earnings or attributable to the entity's income earning process (business presence) within a given jurisdiction.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedIncomeTaxesPayable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInAccruedLiabilities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInAccruedLiabilities</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInContractWithCustomerLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in obligation to transfer good or service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 912<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 11<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478345/912-310-45-11<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInContractWithCustomerLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInDepositOtherAssets">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in moneys or securities given as security including, but not limited to, contract, escrow, or earnest money deposits, retainage (if applicable), deposits with clearing organizations and others, collateral, or margin deposits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInDepositOtherAssets</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInIncomeTaxesReceivable">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in income taxes receivable, which represents the amount due from tax authorities for refunds of overpayments or recoveries of income taxes paid.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInIncomeTaxesReceivable</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInInventories">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInInventories</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingCapitalAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingCapitalAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInOperatingLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of increase (decrease) in obligation for operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (g)(1)<br> -SubTopic 20<br> -Topic 842<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478964/842-20-50-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInOperatingLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncreaseDecreaseInPrepaidExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The increase (decrease) during the reporting period in the amount of outstanding money paid in advance for goods or services that bring economic benefits for future periods.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncreaseDecreaseInPrepaidExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InterestPaidNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 17<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-17<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-25<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td><strong> Data Type:</strong></td>
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<td><strong> Balance Type:</strong></td>
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<td>duration</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Period Type:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<td>xbrli:stringItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>na</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetCashProvidedByUsedInOperatingActivities">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 24<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-24<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-25<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NetIncomeLoss">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-13<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Business and Organization<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NatureOfOperations', window );">NATURE OF BUSINESS AND ORGANIZATION</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 1 &#8212; NATURE OF BUSINESS AND ORGANIZATION</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Raytech Holding Limited
(the &#8220;Company&#8221; or &#8220;Raytech&#8221;) is a holding company incorporated on June 24, 2022 under the British Virgin Islands
(&#8220;BVI&#8221;) law. The Company has no substantial operations other than holding all of the outstanding share capital of Pure Beauty
Manufacturing Company Limited (&#8220;Pure Beauty&#8221;), a Hong Kong Company incorporated on April 15, 2013. The Company, through Pure
Beauty, is engaged in the sourcing and wholesaling of personal care and lifestyle electrical appliances for international brand owners
as our customers. The Company&#8217;s headquarter is located in Hong Kong, China. All of the Company&#8217;s business activities are carried
out by Pure Beauty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">In August 2022 completed
a reorganization of Pure Beauty under common control of its then existing shareholders, who collectively owned all of the equity interests
of Raytech prior to the reorganization. Raytech and Pure Beauty are under common control which results in the consolidation of Pure Beauty
at carrying value. The consolidated financial statements are prepared on the basis as if the reorganization became effective as of the
beginning of the first period presented in the accompanying consolidated financial statements of Raytech.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements reflect
the activities of each of the following entities:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; text-align: left; width: 23%; vertical-align: top"><b>Name</b></td> <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 25%; text-align: center"><b>Background</b></td> <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 15%; text-align: center"><b>Ownership</b></td> <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 34%; text-align: center"><b>Principal activities</b></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">Raytech Holding Limited (&#8220;Raytech&#8221;)</td> <td>&#160;</td> <td style="text-align: left"><p style="text-align: left; margin-top: 0; margin-bottom: 0">&#9679; A BVI company</p> <p style="text-align: left; margin-top: 0; margin-bottom: 0">&#9679; Incorporated on June 24, 2022&#160;</p></td> <td>&#160;</td> <td><span style="-sec-ix-hidden: hidden-fact-80">-</span></td> <td>&#160;</td> <td style="text-align: justify">Investment holding</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: left; vertical-align: top">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">Pure Beauty Manufacturing Company Limited (&#8220;Pure Beauty&#8221;)</td> <td>&#160;</td> <td style="text-align: left"><p style="margin-top: 0; margin-bottom: 0">&#9679; A Hong Kong company</p> <p style="text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#9679; Incorporated on April 15, 2013</p></td> <td>&#160;</td> <td>100% owned by Raytech</td> <td>&#160;</td> <td style="text-align: justify">Engaged in the sourcing and wholesaling of personal care electrical appliances</td></tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Topic 275<br> -Publisher FASB<br> -URI https://asc.fasb.org/275/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 275<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies and Practices<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies and Practices [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SignificantAccountingPoliciesTextBlock', window );">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND PRACTICES</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 2 &#8212; <span style="text-transform: uppercase">Summary
of Significant Accounting Policies and Practices</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Basis of presentation</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S.&#160;GAAP&#8221;)
and applicable rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Principles of consolidation</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include
the financial statements of the Company and its subsidiary. All inter-company transactions have been eliminated upon consolidation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Use of estimates and assumptions</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements
in conformity with U.S.&#160;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported
amounts of revenues and expenses during the periods presented. Significant estimates required to be made by management include, but are
not limited to, the valuation of accounts receivable, useful lives of property and equipment, the recoverability of long-lived assets
and implicit interest rate of operating leases. Actual results could differ from those estimates.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Risks and uncertainties </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Economic and political risks</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s operations are mainly conducted
in Hong Kong. Accordingly, the Company&#8217;s business, financial condition, and results of operations may be influenced by changes in
the political, economic, and legal environments in Hong Kong.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s operations in Hong Kong are
subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These
include risks associated with, among others, the political, economic, and legal environment and foreign currency exchange. The Company&#8217;s
results may be adversely affected by changes in the political and social conditions in Hong Kong, and by changes in governmental policies
with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation,
among other things.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Inflation Risk</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Management monitors changes in price levels. Historically
inflation has not materially impacted the Company&#8217;s audited consolidated financial statements; however, significant increases in
the price of raw materials and labor that cannot be passed to the Company&#8217;s customers could adversely impact Company&#8217;s results
of operations.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">World unrest due to wars and terrorist attacks
have led to further economic disruptions. Mounting inflationary cost pressures and recessionary fears have negatively impacted the global
economy. Since mid-2022, the U.S. Federal Reserve has addressed elevated inflation by increasing interest rates, as inflation remains
elevated. Given current market conditions, the Company may be unable to access the capital markets, and additional capital may only be
available to the Company on terms that could be significantly detrimental to the Company&#8217;s existing stockholders and to the Company&#8217;s
business.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Foreign currency translation</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company uses Hong&#160;Kong dollars (&#8220;HKD&#8221;)
as its reporting currency. The functional currency of the Company and its subsidiary which is incorporated in Hong Kong is HKD, which
is its respective local currency based on the criteria of ASC 830, &#8220;Foreign Currency Matters&#8221;.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Convenience translation</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-hidden: hidden-fact-81">Translations of amounts in the consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows from HKD into US$ as of and for the year ended March
31, 2024 are solely for the convenience of the reader and were calculated at the noon buying rate of US$1 = HKD7.8259, as published in
H.10 statistical release of the United&#160;States Federal Reserve Board.</span> No representation is made that the HKD amounts could have been,
or could be, converted, realized or settled into US$ at such rate or at any other rate.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the consolidated financial statements of the
Company, transactions in currencies other than the functional currency are measured and recorded in the functional currency using the
exchange rate in effect at the date of the transaction. At the balance sheet date, monetary assets and liabilities that are denominated
in currencies other than the functional currency are translated into the functional currency using the exchange rate at the balance sheet
date. All gains and losses arising from foreign currency transactions are recorded in the consolidated statements of income during the
year in which they occur.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Cash and cash equivalents</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents mainly represents cash
at bank and demand deposits which have original maturities less than three months and are unrestricted as to withdrawal or use. As of
March&#160;31, 2023 and 2024, the Company had HKD21,<span style="-sec-ix-hidden: hidden-fact-90">362,580</span> and HKD35,<span style="-sec-ix-hidden: hidden-fact-91">885,666</span> (US$4,585,500) in cash and cash equivalents, respectively.
The Company maintains its bank accounts in Hong Kong.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Accounts receivable, net </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivables are recorded and carried
at the original invoiced amount less an allowance for any potential uncollectible amounts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company make estimates of expected credit
and collectability trends for the allowance for credit losses and allowance for unbilled receivables based upon our assessment of various
factors, including historical experience, the age of the accounts receivable balances, credit quality of our customers, current economic
conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect our ability to collect
from customers. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated
statements of income. Actual amounts received may differ from management&#8217;s estimate of credit worthiness and the economic environment.
Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood
of collection is not probable.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provision for doubtful accounts was <span style="-sec-ix-hidden: hidden-fact-94">nil</span> and <span style="-sec-ix-hidden: hidden-fact-95">nil</span>
as of March 31, 2023 and 2024, respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Merchandise inventories, net</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Merchandise inventories are stated at the lower
of cost or net realizable value, on a weighted average basis. Costs include mainly the cost of merchandise inventories. Any excess of
the cost over the net realizable value of each item of merchandise inventories is recognized as a provision for diminution in the value
of merchandise inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to sell
products. The Company periodically evaluates merchandise inventories for their net realizable value adjustments and reduces the carrying
value of those merchandise inventories that are obsolete or in excess of the forecasted usage to their estimated net realizable value
based on various factors including aging and expiration dates, as applicable, taking into consideration historical and expected future
product sales. For the years ended March 31, 2023 and 2024, no merchandise inventory reserve was recorded because no slow-moving, obsolete,
or damaged merchandise inventory was identified.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Prepayments</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prepayments primarily consists of prepaid expenses.
These amounts are refundable and bear no interest. Management reviews its prepayments on a regular basis to determine if the allowance
is adequate and adjusts the allowance when necessary. As of March&#160;31, 2023 and 2024, no allowance was deemed necessary.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Deferred initial public offering (&#8220;IPO&#8221;)
costs</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to ASC 340-10-S99-1, IPO costs directly
attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction
of additional paid-in capital. These costs include legal fees related to the registration drafting and counsel, consulting fees related
to the registration preparation, the SEC filing and print related costs. During the year ended March 31, 2024, the Company recorded a
charge of <span style="-sec-ix-hidden: hidden-fact-82">HKD2,075,897</span> related to the IPO. As of March 31, 2023 and 2024, the accumulated deferred IPO costs were <span style="-sec-ix-hidden: hidden-fact-83">HKD3,176,871</span> and HKD5,<span style="-sec-ix-hidden: hidden-fact-92">252,768</span>
(US$671,203), respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Long-term deposits</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Long-term deposits are mainly for rent, utilities
and money deposited with certain manufacturers. These amounts are refundable and bear no interest. The long-term deposits are refunded
from manufacturers when the terms and conditions set forth in the agreements have been satisfied.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Property and equipment, net </span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are stated at cost less
accumulated depreciation and impairment if applicable. Depreciation is computed using the straight-line method after consideration of
the estimated useful lives. The estimated useful lives are as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; vertical-align: top">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Useful Life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 70%; text-align: left">Office equipment</td><td style="width: 1%">&#160;</td> <td style="vertical-align: top; width: 29%; text-align: center">2 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left">Office furniture and fixtures</td><td>&#160;</td> <td style="vertical-align: top; text-align: center">2 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Leasehold improvements</td><td>&#160;</td> <td style="vertical-align: top; text-align: center">lesser of lease term or expected useful life</td></tr> </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><i>&#160;</i></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost and related accumulated depreciation
of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the statements of operations.
Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterment, which are expected
to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent
events and circumstances warrant revised estimates of useful lives.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Impairment for long-lived assets</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Long-lived assets, including property and equipment
and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant
adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not
be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected
to generate and recognizes an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset
plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified,
the Company will reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when
available and appropriate, to comparable market values. As of March 31, 2023 and 2024, <span style="-sec-ix-hidden: hidden-fact-96"><span style="-sec-ix-hidden: hidden-fact-97">no</span></span> impairment of long-lived assets was recognized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Fair value measurement</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accounting standard regarding fair value of
financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial
instruments held by the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accounting standards define fair value, establish
a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures.
The three levels are defined as follow:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
    <td style="width: 0.25in">&#9679;</td>
    <td style="text-align: justify">Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
    <td style="width: 0.25in">&#9679;</td>
    <td style="text-align: justify">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
    <td style="width: 0.25in">&#9679;</td>
    <td style="text-align: justify">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.</td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments included in current assets
and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of
the short period of time between the origination of such instruments and their expected realization and their current market rates of
interest.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Leases</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines if an arrangement is a
lease at inception. Operating leases are included in operating lease right-of-use (&#8220;ROU&#8221;) assets, operating lease liability,
and operating lease liability, non-current in the Company&#8217;s consolidated balance sheets. ROU assets represent the Company&#8217;s
right to use an underlying asset for the lease term and lease liabilities represent the Company&#8217;s obligation to make lease payments
arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease
payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is
reasonably certain that it will exercise that option, if any. As the Company&#8217;s leases do not provide an implicit rate, the Company
used an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
The Company has elected to adopt the following lease policies in conjunction with the adoption of ASU 2016-02: (i) for leases that have
lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Company elected not
to apply ASC 842 recognition requirements; and (ii) the Company elected to apply the package of practical expedients for existing arrangements
entered into prior to April 1, 2020 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied
to existing leases, and(c) initial direct costs.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Contract Balances</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The timing of revenue recognition may differ from
the timing of invoicing to customers. For certain services, customers are required to pay before the services are delivered. The Company
recognizes a contract asset or a contract liability in the consolidated balance sheets, depending on the relationship between the Company&#8217;s
performance and the customer&#8217;s payment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company classifies its right to consideration
in exchange for services transferred to a customer as either a receivable or a contract asset. A receivable is a right to consideration
that is unconditional as compared to a contract asset which is a right to consideration that is conditional upon factors other than the
passage of time. The Company recognizes accounts receivable in its consolidated balance sheets when it performs a service in advance of
receiving consideration and if it has the unconditional right to receive consideration. The Company did not have any capitalized contract
costs as of March 31, 2023 and 2024.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contract liabilities are recognized if the Company
receives consideration in advance of performance, which is mainly in relation to emerging and other services. The Company expects to recognize
a significant majority of this balance as revenue over the next 12 months, and the remainder thereafter. As of March 31, 2023 and 2024,
the contract liabilities of the Company amounted to <span style="-sec-ix-hidden: hidden-fact-84">HKD1,705,854</span> and HKD1,<span style="-sec-ix-hidden: hidden-fact-93">008,415</span> (US$128,856), respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Revenue Recognition</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from contracts with customers is recognized
using the five-step model defined by ASC Topic 606 requires the Company to (1) identify its contracts with customers, (2) identify its
performance obligations under those contracts, (3) determine the transaction prices of those contracts, (4) allocate the transaction prices
to its performance obligations in those contracts and (5) recognize revenue when each performance obligation under those contracts is
satisfied. Revenue is recognized when promised goods or services are transferred to the customer in an amount that reflects the consideration
expected in exchange for those goods or services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under ASC 606, revenue is recognized when control
of promised goods or services is transferred to the Company&#8217;s customers in an amount of consideration to which an entity expects
to be entitled to in exchange for those goods or services. Control is the ability to direct the use of and obtain substantially all of
the remaining benefits from the specified goods and services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company currently generates its revenue through
sourcing and wholesaling of Japanese beauty products, as well as personal care products and other products, through distribution network
to Japan market. Currently, the Company sells its products through sourcing and wholesale customers. The Company sells goods under Free
On Board (&#8220;FOB&#8221;) shipping point term, and revenue is recognized when product is loaded on the ships and control is deemed
as transferred. Typical payment terms set forth in the invoice are within 30 to 120 days.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tooling revenue is earned from manufacturing multiple
tools, molds and assembly equipment as part of a tooling program for a customer. Given that the Company is providing a significant service
of producing highly interdependent component parts of the tooling program, each component does not generate standalone values. It must
be a completed mold so the customer can benefit from the purchase. Based on the arrangement with the customer, the Company recognizes
revenue at a point in time. In such cases, the Company recognizes revenue at the evidence transfer of control.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is the principal for the majority
of its transactions and recognizes revenue on a gross basis. The Company is the principal when it has control of the merchandise before
it is transferred to customers, which generally is established when the Company is primarily responsible for merchandising decisions,
maintains the relationship with customer, and has pricing discretion.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Merchandise costs</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of sales of beauty products, personal care
products and other products, which are directly related to revenue-generating transactions, primarily consist of cost of purchasing of
products.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Selling, general and administrative expenses</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Selling, general and administrative expenses consist
primarily of motor vehicle running expenses, travelling and entertainment and general administrative expenses such as of staff costs,
rental expenses, depreciation, legal and professional fees and other miscellaneous administrative expenses.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Employee Benefit</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hong Kong Employment Ordinance (&#8220;The Ordinance&#8221;)
requires an employee employed under a continuous employment contract is entitled to sickness allowance if (1) the sick leave taken is
not less than four consecutive days; (2) the sick leave take is supported by an appropriate medical certificate; and (3) the employee
has accumulated sufficient number of paid sickness days. The daily rate of sickness allowance is a sum equivalent to four-fifths of the
average daily wages earned by an employee in the 12-month period preceding the first sickness day.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Ordinance also requires an employee is entitled
to 12 statutory holidays regardless of his or her length of services. Holiday pay should be paid to the employee whose continuous employment
contract is not less than three months immediately preceding a statutory holiday is entitled to the holiday pay.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An employee is entitled to a paid annual leave
after having been employed under a continuous employment contract for every 12 months. An employee&#8217;s paid annual leave increases
progressively from 7 days to a maximum of 14 days in accordance with his or her length of employment.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under Hong Kong Mandatory Provident Fund Schemes
Ordinance, an employer shall enroll their regular employees in Mandatory Provident Fund Schemes. Regular employees are those who are at
between 18 and 65 years of age and have been employed for consecutive 60 days or more. An employer is required to make regular mandatory
contributions of at least 5% of the employee&#8217;s monthly income between <span style="-sec-ix-hidden: hidden-fact-88">HKD7,000</span> and <span style="-sec-ix-hidden: hidden-fact-85">HKD30,000</span> and <span style="-sec-ix-hidden: hidden-fact-89">HKD1,500</span> of the employee&#8217;s
monthly income over <span style="-sec-ix-hidden: hidden-fact-86"><span style="-sec-ix-hidden: hidden-fact-87">HKD30,000</span></span>.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Income taxes</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Raytech is not subject to tax on income or capital
gains under the current laws of the British Virgin Islands. In addition, upon payments of dividends by Raytech and the Company&#8217;s
subsidiary in Hong&#160;Kong, Pure Beauty to the Company&#8217;s shareholders, no British Virgin Islands withholding tax will be imposed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pure Beauty is incorporated in and carry trade
and business in Hong&#160;Kong and is subject to Hong&#160;Kong profits tax under Inland Revenue Department Ordinance.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The charge for taxation is based on actual results
for the year as adjusted for items that are non-assessable&#160;or disallowed; and it is calculated using tax rates that have been enacted
or substantively enacted by the balance sheet date. The Group is not currently subject to tax in the British Virgin Islands.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred income taxes are recognized when temporary
differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the&#160;years in which
those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to
reduce deferred tax assets to the amount expected to be realized.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An uncertain tax position is recognized as a benefit
only if it is &#8220;more likely than not&#8221; that the tax position would be sustained in a tax examination. The amount recognized
is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the
&#8220;more likely than not&#8221; test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income
tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been
incurred during the&#160;years ended March&#160;31, 2022, 2023 and 2024.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Related parties</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject
to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Commitments and Contingencies</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the normal course of business, the Company
is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters,
such as government investigations and tax matters. The Company recognizes a liability for such a contingency if it determines it is probable
that a loss has occurred, and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments
including historical and the specific facts and circumstances of each matter.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Earnings per share</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company computes earnings per share (&#8220;EPS&#8221;)
in accordance with ASC&#160;260, &#8220;Earnings per Share&#8221;. ASC&#160;260 requires companies to present basic and diluted EPS.&#160;Basic
EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive
effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been
converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive
effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.&#160;For
the&#160;years ended March&#160;31, 2022, 2023 and 2024, there were no dilutive shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="text-decoration:underline">Concentration of Risks</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Concentration of credit
risk</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially expose
the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company places its cash with financial
institutions with high credit ratings and quality.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable primarily comprise of amounts
receivable from the service customers. To reduce credit risk, the Company performs ongoing credit evaluations of the financial condition
of these service customers. The Company establishes a provision for doubtful accounts based upon estimates, factors surrounding the credit
risk of specific service customers and other information.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Concentration of customers</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2022 and 2023, one major customer,
who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for 96.8% and 99.6% of the
Company&#8217;s total accounts receivable respectively. As of March 31, 2024, two customers, who are distributors represent and sell brands
of well-known manufactures from Japan, the U.S., UK, Europe and Australia accounted for 72.1% and 27.9% of the Company&#8217;s total accounts
receivable respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the years ended March 31, 2022 and 2023, one
major customer, who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for 97.8% and
91.3% of the Company&#8217;s total revenues respectively. For the year ended March 31, 2024, two major customers, who are distributors
represent and sell brands of well-known manufactures from Japan, the U.S. and Europe, accounted for 74.1% and 16.5% of the Company&#8217;s
total revenues respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concentration of manufacturers</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2022, two manufacturers accounted
for 82.6% and 15.2% of the total balance of accounts payable respectively. As of March&#160;31, 2023, one manufacturer accounted for 92.3%
of the total balance of accounts payable. As of March&#160;31, 2024, one manufacturer accounted for 97.1% of the total balance of accounts
payable. The manufacturer is a related party, which was disclosed in the Note 10.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the year ended March 31, 2022, two manufacturers
accounted for 77.3% and 22.3% of our total purchases, respectively. For the year ended March&#160;31, 2023, two manufacturers accounted
for 83.1% and 10.4% of our total purchases respectively. For the year ended March&#160;31, 2024, one manufacturer accounted for 88.5 %
of our total purchases. The manufacturer is a related party, which was disclosed in the Note 10.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Segment reporting</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 280, &#8220;Segment Reporting&#8221;, establishes
standards for reporting information about operating segments on a basis consistent with the Company&#8217;s internal organizational structure
as well as information about geographical areas, business segments and major customers in consolidated financial statements for detailing
the Company&#8217;s business segments. Based on the criteria established by ASC 280, the Company&#8217;s chief operating decision maker
(&#8220;CODM&#8221;) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about
allocating resources and assessing performance of the Company. As a whole and hence, the Company has only one reportable segment. The
Company does not distinguish between markets or segments for the purpose of internal reporting. As the Company&#8217;s long-lived assets
are substantially located in Hong Kong, no geographical segments are presented.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Recently issued accounting pronouncements</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company considers the applicability and impact
of all accounting standards updates (&#8220;ASUs&#8221;). Management periodically reviews new accounting standards that are issued. Under
the Jumpstart Our Business Startups Act of 2012, as amended (the &#8220;JOBS Act&#8221;), the Company meets the definition of an emerging
growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays
the adoption of these accounting standards until they would apply to private companies.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 18, 2019, the FASB issued ASU No.
2019-12, Income taxes (Topic 740), Simplifying the Accounting for Income Taxes. This guidance amends ASC Topic 740 and addresses several
aspects including 1) evaluation of step-up tax basis of goodwill when there is not a business combination, 2) policy election to not allocate
consolidated taxes on a separate entity basis to entities not subject to income tax, 3) accounting for tax law changes or rates during
interim periods, 4) ownership changes from equity method investment to subsidiary or vice versa, 5) elimination of exception to intrapetrous
allocation when there is gain in discontinued operations and a loss from continuing operations, and 6) treatment of franchise taxes that
are partially based on income. The amendments in this Update are effective for the Company for fiscal years beginning after December 15,
2021, and interim periods within fiscal years beginning after December 15, 2022. The Company is evaluating the impact of this guidance
on its consolidated financial statements and related disclosures.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2020, the FASB issued ASU 2020-08,
&#8220;Codification Improvements to Subtopic 310-20, Receivables&#8212;Nonrefundable Fees and Other Costs&#8221;. The amendments in this
Update represent changes to clarify the Codification. The amendments make the Codification easier to understand and easier to apply by
eliminating inconsistencies and providing clarifications. ASU 2020-08 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022. All entities should apply the amendments in this
Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities.
These amendments do not change the effective dates for Update 2017-08. The Company is currently evaluating the impact of this new standard
on the Company&#8217;s consolidated financial statements and related disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2020, the FASB issued ASU 2020-10,
&#8220;Codification Improvements&#8221;. The amendments in this Update represent changes to clarify the Codification or correct unintended
application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative
cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities
within the scope of the affected accounting guidance. ASU 2020-10 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022.The amendments in this Update should be applied retrospectively.
The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2021, the FASB issued ASU 2021-08,
Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires
entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09,
Revenue from Contracts with Customers (Topic 606). The update will generally result in an entity recognizing contract assets and contract
liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value.
The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted.
This standard is effective for the Company on January 1, 2023 and the Company does not expect a significant impact to the consolidated
financial statements upon adoption. However, the ultimate impact is dependent upon the size and frequency of future acquisitions.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not believe other recently issued
but not yet effective accounting standards, if currently adopted, would have a material effect on the Company&#8217;s consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows.</p><span></span>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerAbstract', window );"><strong>Revenue [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerTextBlock', window );">REVENUE</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 3 &#8212;&#160;<span style="text-transform: uppercase">Revenue</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Effective April 1, 2020, the Company adopted ASC
Topic 606,&#160;Revenue from Contracts with Customers, which replaced ASC Topic 605, using the modified retrospective method of adoption.
Results for reporting periods beginning after April 1, 2020 are presented under ASC Topic 606 while prior period amounts are not adjusted
and continue to be presented under the Company&#8217;s historic accounting under ASC Topic 605. The Company&#8217;s accounting for revenues
remains substantially unchanged. There were no cumulative effect adjustments made to the contracts in place prior to July 1, 2019. The
effect from the adoption of ASC Topic 606 was not material to the Company&#8217;s consolidated financial statements.&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue is recognized when control of promised
goods or services is transferred to the Company&#8217;s customers in an amount of consideration to which an entity expects to be entitled
to in exchange for those goods or services. Control is the ability to direct the use of and obtain substantially all of the remaining
benefits from the specified goods and services.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table present the Company&#8217;s
revenue disaggregated by product categories for the&#160;years ended March&#160;31, 2022, 2023 and 2024, respectively:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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    <td colspan="14" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">For the years ended March&#160;31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td style="padding-left: 0.25in; width: 52%; text-align: left">Hair styling series</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">17,292,889</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">1,853,553</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">6,816,250</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">3,155,090</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,217,577</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,413,106</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">180,568</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 15<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)(2)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Topic 606<br> -Publisher FASB<br> -URI https://asc.fasb.org/606/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounts Receivable, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetAbstract', window );"><strong>Accounts Receivable, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsAndNontradeReceivableTextBlock', window );">ACCOUNTS RECEIVABLE, NET</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 4 &#8212;&#160;ACCOUNTS RECEIVABLE, NET</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable, net consisted of the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of March&#160;31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left">Accounts receivable</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">6,787,330</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">14,557,523</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">1,860,172</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Less: allowance for doubtful accounts</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-102">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-103">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-104">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">6,787,330</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">14,557,523</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,860,172</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the end of each of the financial year, the
aging analysis of accounts receivable, net of allowance for doubtful accounts, based on the invoice date is as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of March&#160;31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 64%; text-align: left">Within 30 days</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">6,787,330</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">14,547,396</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">1,858,878</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Within 31 to 60 days</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-105">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">10,127</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">1,294</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total accounts receivable, net</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">6,787,330</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">14,557,523</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,860,172</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There was <span style="-sec-ix-hidden: hidden-fact-106"><span style="-sec-ix-hidden: hidden-fact-107">no</span></span> provision of doubtful debts for the&#160;years
ended March&#160;31, 2023 and 2024, respectively.</p><span></span>
</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for accounts receivable, contract receivable, receivable held-for-sale, and nontrade receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/310/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/326/tableOfContent<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R11.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Merchandise Inventories, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureAbstract', window );"><strong>Merchandise Inventories, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryDisclosureTextBlock', window );">MERCHANDISE INVENTORIES, NET</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 5 &#8212;&#160;MERCHANDISE INVENTORIES,
NET</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Merchandise inventories, net, consisted of the
following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>&#160;</b></p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of March&#160;31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 9%; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-108">&#8211;</div></td><td style="width: 1%; font-weight: bold; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">911,875</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">23,398</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">2,990</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-110">&#8211;</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">258,628</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">33,048</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Other personal care appliances</td><td style="font-weight: bold">&#160;</td>
    <td style="font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-111">&#8211;</div></td><td style="font-weight: bold; text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">661,785</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">84,563</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Less: inventory allowances</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">There was no inventory impairment for the&#160;years
ended March 31, 2023 and 2024, respectively.</p><span></span>
</td>
</tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 330<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/330/tableOfContent<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<head>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment, Net<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Property and Equipment, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock', window );">PROPERTY AND EQUIPMENT, NET</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 6 &#8212;&#160;PROPERTY AND EQUIPMENT,
NET</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment, net, consisted of the
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td>Subtotal</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">64,296</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">64,296</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">8,216</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left; padding-bottom: 1.5pt">Less: accumulated depreciation</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59,428</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(64,296</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,216</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,868</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-116">&#8211;</div></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right"><div style="-sec-ix-hidden: hidden-fact-117">&#8211;</div></td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Depreciation expenses recognized for the&#160;years
ended March&#160;31, 2023 and 2024 amounted to <span style="-sec-ix-hidden: hidden-fact-118">HKD13,924</span> and <span style="-sec-ix-hidden: hidden-fact-119">HKD4,868</span> (US$622), respectively.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">No impairment loss had been recognized during
the years ended March 31, 2023 and 2024, respectively.</p><span></span>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 360<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/360/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -SubTopic 360<br> -Topic 958<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -SubTopic 360<br> -Topic 958<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7<br> -SubTopic 360<br> -Topic 958<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<TYPE>XML
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<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accruals<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PayablesAndAccrualsAbstract', window );"><strong>Accruals [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock', window );">ACCRUALS</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 7 &#8212;&#160;ACCRUALS</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accruals consisted of the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
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    <td colspan="10" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">As of March&#160;31,</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2023</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Contract Liabilities<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
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<td class="text">&#160;<span></span>
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</tr>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_ContractLiabilityTextBlock', window );">CONTRACT LIABILITIES</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Note 8 &#8212; CONTRACT LIABILITIES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Movement in contract liabilities, consistent of
the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center">HKD</td><td style="font-weight: bold">&#160;</td><td style="font-weight: bold">&#160;</td>
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    <td style="width: 64%; text-align: left">At the beginning</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right"><div style="-sec-ix-hidden: hidden-fact-120">&#8211;</div></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">1,705,854</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">217,975</td><td style="width: 1%; text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">3,281,374</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">1,288,856</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">164,691</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,575,520</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(253,810</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of contract with liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureTextBlock', window );">TAXES</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 9 &#8212;&#160;TAXES</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Income tax</span></i></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>British Virgin Islands</i></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is incorporated in the BVI and is
not subject to tax on income or capital gains under current BVI law. In addition, upon payments of dividends by these entities to their
shareholders, no BVI withholding tax will be imposed.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Hong&#160;Kong</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pure Beauty is incorporated in Hong&#160;Kong
and is subject to&#160;Hong&#160;Kong profits tax at a rate of 16.5% for taxable income earned in Hong&#160;Kong. Under Hong&#160;Kong
tax law, Pure Beauty is exempted from income tax on its foreign-derived income and there are <span style="-sec-ix-hidden: hidden-fact-129">no</span> withholding taxes in Hong&#160;Kong on
remittance of dividends.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Taxation in the statement of income represents:</p>

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  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table reconciles Hong Kong statutory
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-indent: -0.125in; padding-left: 0.125in; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Effective income tax expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i><span style="text-decoration:underline">Uncertain tax positions</span></i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluates the level of authority
for each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measures
the unrecognized benefits associated with the tax positions. As of March 31, 2022, 2023 and 2024, the Company did not have any unrecognized
tax benefits. For the years ended March 31, 2022, 2023 and 2024, the Company had <span style="-sec-ix-hidden: hidden-fact-130"><span style="-sec-ix-hidden: hidden-fact-131"><span style="-sec-ix-hidden: hidden-fact-132">no</span></span></span> unrecognized tax benefits.</p><span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxDisclosureAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxDisclosureTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for income tax.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 231<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12C<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12C<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12B<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 270<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477891/740-270-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.5.Q1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480990/946-20-50-13<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/740/tableOfContent<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-14<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 21<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-21<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 11.C)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-2<br><br>Reference 14: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482603/740-30-50-2<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Balances and Transactions<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Balances and Transactions [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsDisclosureTextBlock', window );">RELATED PARTY BALANCES AND TRANSACTIONS</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 10 &#8212;&#160;<span style="text-transform: uppercase">Related
party balances and transactions</span></b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-transform: uppercase"><b>&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s relationships with related
parties who had transactions with the Company are summarized as follows:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>&#160;</b></p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="text-indent: -0.125in; padding-left: 0.125in; border-bottom: black 1.5pt solid; width: 49%; text-align: justify"><b>Related Party Name</b></td> <td style="width: 2%">&#160;</td> <td style="border-bottom: black 1.5pt solid; width: 49%; text-align: center"><b>Relationship to the Company</b></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify">Mr. Ching Tim Hoi (&#8220;Mr. Ching&#8221;)</td> <td>&#160;</td> <td style="text-align: justify">Controlling shareholder, CEO and Chairman of the Company and Director of Pure Beauty, Director of Raytech Holdings Company Limited, and Executive Director of Zhongshan Raytech </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify">Zhongshan Raytech Electric Appliances Manufacturing Company Limited (&#8220;Zhongshan Raytech&#8221;)</td> <td>&#160;</td> <td>An entity controlled by Mr. Ching </td></tr> </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Due to a related party consisted of the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">These accounts payable to a related party was
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Related party transactions</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EquityAbstract', window );"><strong>Equity [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 11 &#8212; EQUITY</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Ordinary shares</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On August 2, 2022, 100 ordinary shares of the
Company were issued to the participating shareholders in connection with the restructuring of the Company.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 10, 2023, the Company effected a share
split of all issued and outstanding shares of 100 shares at a ratio of 1-to-160,000. As a result of the share split, the Company now has
16,000,000 common shares issued and outstanding as of the date hereof. The Company believed it is appropriate to reflect the above transactions
on a retroactive basis similar to a share split or dividend pursuant to ASC 260. All references made to share or per share amounts in
the accompanying consolidated financial statements and applicable disclosures have been retroactively adjusted to reflect the 160,000
for 1 share split.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>Dividend</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><i>&#160;</i></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">During the years ended March 31, 2023 and 2024,
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for equity.</p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Lease Commitments</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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financial reporting purposes. The classification evaluation begins at the commencement date and the lease term used in the evaluation
includes the non-cancellable period for which the Company has the right to use the underlying asset, together with renewal option periods
when the exercise of the renewal option is reasonably certain and failure to exercise such option which results in an economic penalty.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for commitments and contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 405<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/405-30/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 440<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 450<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/450/tableOfContent<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 954<br> -SubTopic 440<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478522/954-440-50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 440<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482648/440-10-50-4<br><br>Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 440<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/440/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsAbstract', window );"><strong>Subsequent Events [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventsTextBlock', window );">SUBSEQUENT EVENTS</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Note 13 &#8212; SUBSEQUENT EVENTS</b></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company evaluated all events and transactions
that from March&#160;31, 2024 up through July 29, 2024, which is the date that these consolidated financial statements are available to
be issued, there were no other any material subsequent events that require disclosure in these consolidated financial statements, other
than disclosed below.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On May 15, 2024, the Company completed its initial
public offering. In this offering, the Company issued&#160;1,500,000&#160;Ordinary Shares at a price of US$4.00&#160;per share. The Company
received gross proceeds in the amount of US$6,000,000&#160;million before deducting any underwriting discounts or expenses. The Ordinary
Shares began trading on May 15, 2024 on the Nasdaq Capital Market under the ticker symbol &#8220;RAY&#8221;.</p><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 855<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/855/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 855<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounting Policies, by Policy (Policies)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountingPoliciesAbstract', window );"><strong>Summary of Significant Accounting Policies and Practices [Abstract]</strong></a></td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock', window );">Basis of presentation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Basis of presentation</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accompanying consolidated financial statements
have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S.&#160;GAAP&#8221;)
and applicable rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;).</p><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConsolidationPolicyTextBlock', window );">Principles of consolidation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Principles of consolidation</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements include
the financial statements of the Company and its subsidiary. All inter-company transactions have been eliminated upon consolidation.</p><span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UseOfEstimates', window );">Use of estimates and assumptions</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Use of estimates and assumptions</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements
in conformity with U.S.&#160;GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and
liabilities and disclosures of contingent assets and liabilities as of the date of the consolidated financial statements and the reported
amounts of revenues and expenses during the periods presented. Significant estimates required to be made by management include, but are
not limited to, the valuation of accounts receivable, useful lives of property and equipment, the recoverability of long-lived assets
and implicit interest rate of operating leases. Actual results could differ from those estimates.</p><span></span>
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<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RisksAndUncertaintiesPolicyPolicyTextBlock', window );">Risks and uncertainties</a></td>
<td class="text">Risks and uncertainties Economic and political risksThe Company&#8217;s operations are mainly conducted
in Hong Kong. Accordingly, the Company&#8217;s business, financial condition, and results of operations may be influenced by changes in
the political, economic, and legal environments in Hong Kong.The Company&#8217;s operations in Hong Kong are
subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These
include risks associated with, among others, the political, economic, and legal environment and foreign currency exchange. The Company&#8217;s
results may be adversely affected by changes in the political and social conditions in Hong Kong, and by changes in governmental policies
with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation,
among other things.Inflation RiskManagement monitors changes in price levels. Historically
inflation has not materially impacted the Company&#8217;s audited consolidated financial statements; however, significant increases in
the price of raw materials and labor that cannot be passed to the Company&#8217;s customers could adversely impact Company&#8217;s results
of operations.World unrest due to wars and terrorist attacks
have led to further economic disruptions. Mounting inflationary cost pressures and recessionary fears have negatively impacted the global
economy. Since mid-2022, the U.S. Federal Reserve has addressed elevated inflation by increasing interest rates, as inflation remains
elevated. Given current market conditions, the Company may be unable to access the capital markets, and additional capital may only be
available to the Company on terms that could be significantly detrimental to the Company&#8217;s existing stockholders and to the Company&#8217;s
business.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionsAndTranslationsPolicyTextBlock', window );">Foreign currency translation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Foreign currency translation</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company uses Hong&#160;Kong dollars (&#8220;HKD&#8221;)
as its reporting currency. The functional currency of the Company and its subsidiary which is incorporated in Hong Kong is HKD, which
is its respective local currency based on the criteria of ASC 830, &#8220;Foreign Currency Matters&#8221;.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_ConvenienceTranslationPolicyTextBlock', window );">Convenience translation</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Convenience translation</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="-sec-ix-hidden: hidden-fact-81">Translations of amounts in the consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows from HKD into US$ as of and for the year ended March
31, 2024 are solely for the convenience of the reader and were calculated at the noon buying rate of US$1 = HKD7.8259, as published in
H.10 statistical release of the United&#160;States Federal Reserve Board.</span> No representation is made that the HKD amounts could have been,
or could be, converted, realized or settled into US$ at such rate or at any other rate.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the consolidated financial statements of the
Company, transactions in currencies other than the functional currency are measured and recorded in the functional currency using the
exchange rate in effect at the date of the transaction. At the balance sheet date, monetary assets and liabilities that are denominated
in currencies other than the functional currency are translated into the functional currency using the exchange rate at the balance sheet
date. All gains and losses arising from foreign currency transactions are recorded in the consolidated statements of income during the
year in which they occur.&#160;</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsPolicyTextBlock', window );">Cash and cash equivalents</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Cash and cash equivalents</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cash and cash equivalents mainly represents cash
at bank and demand deposits which have original maturities less than three months and are unrestricted as to withdrawal or use. As of
March&#160;31, 2023 and 2024, the Company had HKD21,<span style="-sec-ix-hidden: hidden-fact-90">362,580</span> and HKD35,<span style="-sec-ix-hidden: hidden-fact-91">885,666</span> (US$4,585,500) in cash and cash equivalents, respectively.
The Company maintains its bank accounts in Hong Kong.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_TradeAndOtherAccountsReceivablePolicy', window );">Accounts receivable, net</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Accounts receivable, net </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivables are recorded and carried
at the original invoiced amount less an allowance for any potential uncollectible amounts.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company make estimates of expected credit
and collectability trends for the allowance for credit losses and allowance for unbilled receivables based upon our assessment of various
factors, including historical experience, the age of the accounts receivable balances, credit quality of our customers, current economic
conditions, reasonable and supportable forecasts of future economic conditions, and other factors that may affect our ability to collect
from customers. The provision is recorded against accounts receivable balances, with a corresponding charge recorded in the consolidated
statements of income. Actual amounts received may differ from management&#8217;s estimate of credit worthiness and the economic environment.
Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood
of collection is not probable.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Provision for doubtful accounts was <span style="-sec-ix-hidden: hidden-fact-94">nil</span> and <span style="-sec-ix-hidden: hidden-fact-95">nil</span>
as of March 31, 2023 and 2024, respectively.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryPolicyTextBlock', window );">Merchandise inventories, net</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Merchandise inventories, net</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Merchandise inventories are stated at the lower
of cost or net realizable value, on a weighted average basis. Costs include mainly the cost of merchandise inventories. Any excess of
the cost over the net realizable value of each item of merchandise inventories is recognized as a provision for diminution in the value
of merchandise inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to sell
products. The Company periodically evaluates merchandise inventories for their net realizable value adjustments and reduces the carrying
value of those merchandise inventories that are obsolete or in excess of the forecasted usage to their estimated net realizable value
based on various factors including aging and expiration dates, as applicable, taking into consideration historical and expected future
product sales. For the years ended March 31, 2023 and 2024, no merchandise inventory reserve was recorded because no slow-moving, obsolete,
or damaged merchandise inventory was identified.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_PrepaymentsPolicyTextBlock', window );">Prepayments</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Prepayments</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Prepayments primarily consists of prepaid expenses.
These amounts are refundable and bear no interest. Management reviews its prepayments on a regular basis to determine if the allowance
is adequate and adjusts the allowance when necessary. As of March&#160;31, 2023 and 2024, no allowance was deemed necessary.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_DeferredInitialPublicOfferingCostsPolicyTextBlock', window );">Deferred initial public offering (&#8220;IPO&#8221;) costs</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Deferred initial public offering (&#8220;IPO&#8221;)
costs</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pursuant to ASC 340-10-S99-1, IPO costs directly
attributable to an offering of equity securities are deferred and would be charged against the gross proceeds of the offering as a reduction
of additional paid-in capital. These costs include legal fees related to the registration drafting and counsel, consulting fees related
to the registration preparation, the SEC filing and print related costs. During the year ended March 31, 2024, the Company recorded a
charge of <span style="-sec-ix-hidden: hidden-fact-82">HKD2,075,897</span> related to the IPO. As of March 31, 2023 and 2024, the accumulated deferred IPO costs were <span style="-sec-ix-hidden: hidden-fact-83">HKD3,176,871</span> and HKD5,<span style="-sec-ix-hidden: hidden-fact-92">252,768</span>
(US$671,203), respectively.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_LongTermDepositsPolicyTextBlock', window );">Long-term deposits</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Long-term deposits</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Long-term deposits are mainly for rent, utilities
and money deposited with certain manufacturers. These amounts are refundable and bear no interest. The long-term deposits are refunded
from manufacturers when the terms and conditions set forth in the agreements have been satisfied.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock', window );">Property and equipment, net</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Property and equipment, net </span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment are stated at cost less
accumulated depreciation and impairment if applicable. Depreciation is computed using the straight-line method after consideration of
the estimated useful lives. The estimated useful lives are as follows:</p><table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1.5pt; vertical-align: top">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td> <td style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">Useful Life</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; width: 70%; text-align: left">Office equipment</td><td style="width: 1%">&#160;</td> <td style="vertical-align: top; width: 29%; text-align: center">2 years</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="vertical-align: top; text-align: left">Office furniture and fixtures</td><td>&#160;</td> <td style="vertical-align: top; text-align: center">2 years</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="vertical-align: top; text-align: left">Leasehold improvements</td><td>&#160;</td> <td style="vertical-align: top; text-align: center">lesser of lease term or expected useful life</td></tr> </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The cost and related accumulated depreciation
of assets sold or otherwise retired are eliminated from the accounts and any gain or loss is included in the statements of operations.
Expenditures for maintenance and repairs are charged to earnings as incurred, while additions, renewals and betterment, which are expected
to extend the useful life of assets, are capitalized. The Company also re-evaluates the periods of depreciation to determine whether subsequent
events and circumstances warrant revised estimates of useful lives.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock', window );">Impairment for long-lived assets</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Impairment for long-lived assets</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Long-lived assets, including property and equipment
and intangible assets with finite lives are reviewed for impairment whenever events or changes in circumstances (such as a significant
adverse change to market conditions that will impact the future use of the assets) indicate that the carrying value of an asset may not
be recoverable. The Company assesses the recoverability of the assets based on the undiscounted future cash flows the assets are expected
to generate and recognizes an impairment loss when estimated undiscounted future cash flows expected to result from the use of the asset
plus net proceeds expected from disposition of the asset, if any, are less than the carrying value of the asset. If an impairment is identified,
the Company will reduce the carrying amount of the asset to its estimated fair value based on a discounted cash flows approach or, when
available and appropriate, to comparable market values. As of March 31, 2023 and 2024, <span style="-sec-ix-hidden: hidden-fact-96"><span style="-sec-ix-hidden: hidden-fact-97">no</span></span> impairment of long-lived assets was recognized.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FairValueMeasurementPolicyPolicyTextBlock', window );">Fair value measurement</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Fair value measurement</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accounting standard regarding fair value of
financial instruments and related fair value measurements defines financial instruments and requires disclosure of the fair value of financial
instruments held by the Company.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The accounting standards define fair value, establish
a three-level valuation hierarchy for disclosures of fair value measurement and enhance disclosure requirements for fair value measures.
The three levels are defined as follow:</p><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
    <td style="width: 0.25in">&#9679;</td>
    <td style="text-align: justify">Level 1 inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.</td></tr>
  </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
    <td style="width: 0.25in">&#9679;</td>
    <td style="text-align: justify">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.</td></tr>
  </table><table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-spacing: 0px;">
  <tr style="vertical-align: top">
    <td style="width: 0.25in">&#160;</td>
    <td style="width: 0.25in">&#9679;</td>
    <td style="text-align: justify">Level 3 inputs to the valuation methodology are unobservable and significant to the fair value.</td></tr>
  </table><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments included in current assets
and current liabilities are reported in the consolidated balance sheets at face value or cost, which approximate fair value because of
the short period of time between the origination of such instruments and their expected realization and their current market rates of
interest.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeLeasesPolicyTextBlock', window );">Leases</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Leases</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company determines if an arrangement is a
lease at inception. Operating leases are included in operating lease right-of-use (&#8220;ROU&#8221;) assets, operating lease liability,
and operating lease liability, non-current in the Company&#8217;s consolidated balance sheets. ROU assets represent the Company&#8217;s
right to use an underlying asset for the lease term and lease liabilities represent the Company&#8217;s obligation to make lease payments
arising from the lease. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease
payments over the lease term. When determining the lease term, the Company includes options to extend or terminate the lease when it is
reasonably certain that it will exercise that option, if any. As the Company&#8217;s leases do not provide an implicit rate, the Company
used an incremental borrowing rate based on the information available at commencement date in determining the present value of lease payments.
The Company has elected to adopt the following lease policies in conjunction with the adoption of ASU 2016-02: (i) for leases that have
lease terms of 12 months or less and does not include a purchase option that is reasonably certain to exercise, the Company elected not
to apply ASC 842 recognition requirements; and (ii) the Company elected to apply the package of practical expedients for existing arrangements
entered into prior to April 1, 2020 to not reassess (a) whether an arrangement is or contains a lease, (b) the lease classification applied
to existing leases, and(c) initial direct costs.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_ContractBalancesPolicyTextBlock', window );">Contract Balances</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Contract Balances</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The timing of revenue recognition may differ from
the timing of invoicing to customers. For certain services, customers are required to pay before the services are delivered. The Company
recognizes a contract asset or a contract liability in the consolidated balance sheets, depending on the relationship between the Company&#8217;s
performance and the customer&#8217;s payment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company classifies its right to consideration
in exchange for services transferred to a customer as either a receivable or a contract asset. A receivable is a right to consideration
that is unconditional as compared to a contract asset which is a right to consideration that is conditional upon factors other than the
passage of time. The Company recognizes accounts receivable in its consolidated balance sheets when it performs a service in advance of
receiving consideration and if it has the unconditional right to receive consideration. The Company did not have any capitalized contract
costs as of March 31, 2023 and 2024.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Contract liabilities are recognized if the Company
receives consideration in advance of performance, which is mainly in relation to emerging and other services. The Company expects to recognize
a significant majority of this balance as revenue over the next 12 months, and the remainder thereafter. As of March 31, 2023 and 2024,
the contract liabilities of the Company amounted to <span style="-sec-ix-hidden: hidden-fact-84">HKD1,705,854</span> and HKD1,<span style="-sec-ix-hidden: hidden-fact-93">008,415</span> (US$128,856), respectively.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueRecognitionPolicyTextBlock', window );">Revenue Recognition</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Revenue Recognition</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Revenue from contracts with customers is recognized
using the five-step model defined by ASC Topic 606 requires the Company to (1) identify its contracts with customers, (2) identify its
performance obligations under those contracts, (3) determine the transaction prices of those contracts, (4) allocate the transaction prices
to its performance obligations in those contracts and (5) recognize revenue when each performance obligation under those contracts is
satisfied. Revenue is recognized when promised goods or services are transferred to the customer in an amount that reflects the consideration
expected in exchange for those goods or services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under ASC 606, revenue is recognized when control
of promised goods or services is transferred to the Company&#8217;s customers in an amount of consideration to which an entity expects
to be entitled to in exchange for those goods or services. Control is the ability to direct the use of and obtain substantially all of
the remaining benefits from the specified goods and services.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company currently generates its revenue through
sourcing and wholesaling of Japanese beauty products, as well as personal care products and other products, through distribution network
to Japan market. Currently, the Company sells its products through sourcing and wholesale customers. The Company sells goods under Free
On Board (&#8220;FOB&#8221;) shipping point term, and revenue is recognized when product is loaded on the ships and control is deemed
as transferred. Typical payment terms set forth in the invoice are within 30 to 120 days.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Tooling revenue is earned from manufacturing multiple
tools, molds and assembly equipment as part of a tooling program for a customer. Given that the Company is providing a significant service
of producing highly interdependent component parts of the tooling program, each component does not generate standalone values. It must
be a completed mold so the customer can benefit from the purchase. Based on the arrangement with the customer, the Company recognizes
revenue at a point in time. In such cases, the Company recognizes revenue at the evidence transfer of control.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company is the principal for the majority
of its transactions and recognizes revenue on a gross basis. The Company is the principal when it has control of the merchandise before
it is transferred to customers, which generally is established when the Company is primarily responsible for merchandising decisions,
maintains the relationship with customer, and has pricing discretion.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_MerchandiseCostsPolicyTextBlock', window );">Merchandise costs</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Merchandise costs</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Cost of sales of beauty products, personal care
products and other products, which are directly related to revenue-generating transactions, primarily consist of cost of purchasing of
products.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock', window );">Selling, general and administrative expenses</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Selling, general and administrative expenses</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Selling, general and administrative expenses consist
primarily of motor vehicle running expenses, travelling and entertainment and general administrative expenses such as of staff costs,
rental expenses, depreciation, legal and professional fees and other miscellaneous administrative expenses.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_EmployeeBenefitsPolicyTextBlock', window );">Employee Benefit</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Employee Benefit</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Hong Kong Employment Ordinance (&#8220;The Ordinance&#8221;)
requires an employee employed under a continuous employment contract is entitled to sickness allowance if (1) the sick leave taken is
not less than four consecutive days; (2) the sick leave take is supported by an appropriate medical certificate; and (3) the employee
has accumulated sufficient number of paid sickness days. The daily rate of sickness allowance is a sum equivalent to four-fifths of the
average daily wages earned by an employee in the 12-month period preceding the first sickness day.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Ordinance also requires an employee is entitled
to 12 statutory holidays regardless of his or her length of services. Holiday pay should be paid to the employee whose continuous employment
contract is not less than three months immediately preceding a statutory holiday is entitled to the holiday pay.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An employee is entitled to a paid annual leave
after having been employed under a continuous employment contract for every 12 months. An employee&#8217;s paid annual leave increases
progressively from 7 days to a maximum of 14 days in accordance with his or her length of employment.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under Hong Kong Mandatory Provident Fund Schemes
Ordinance, an employer shall enroll their regular employees in Mandatory Provident Fund Schemes. Regular employees are those who are at
between 18 and 65 years of age and have been employed for consecutive 60 days or more. An employer is required to make regular mandatory
contributions of at least 5% of the employee&#8217;s monthly income between <span style="-sec-ix-hidden: hidden-fact-88">HKD7,000</span> and <span style="-sec-ix-hidden: hidden-fact-85">HKD30,000</span> and <span style="-sec-ix-hidden: hidden-fact-89">HKD1,500</span> of the employee&#8217;s
monthly income over <span style="-sec-ix-hidden: hidden-fact-86"><span style="-sec-ix-hidden: hidden-fact-87">HKD30,000</span></span>.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxPolicyTextBlock', window );">Income taxes</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Income taxes</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Raytech is not subject to tax on income or capital
gains under the current laws of the British Virgin Islands. In addition, upon payments of dividends by Raytech and the Company&#8217;s
subsidiary in Hong&#160;Kong, Pure Beauty to the Company&#8217;s shareholders, no British Virgin Islands withholding tax will be imposed.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Pure Beauty is incorporated in and carry trade
and business in Hong&#160;Kong and is subject to Hong&#160;Kong profits tax under Inland Revenue Department Ordinance.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The charge for taxation is based on actual results
for the year as adjusted for items that are non-assessable&#160;or disallowed; and it is calculated using tax rates that have been enacted
or substantively enacted by the balance sheet date. The Group is not currently subject to tax in the British Virgin Islands.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Deferred income taxes are recognized when temporary
differences exist between the tax bases of assets and liabilities and their reported amounts in the consolidated financial statements.
Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the&#160;years in which
those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in income in the period including the enactment date. Valuation allowances are established, when necessary, to
reduce deferred tax assets to the amount expected to be realized.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">An uncertain tax position is recognized as a benefit
only if it is &#8220;more likely than not&#8221; that the tax position would be sustained in a tax examination. The amount recognized
is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the
&#8220;more likely than not&#8221; test, no tax benefit is recorded. Penalties and interest incurred related to underpayment of income
tax are classified as income tax expense in the period incurred. No significant penalties or interest relating to income taxes have been
incurred during the&#160;years ended March&#160;31, 2022, 2023 and 2024.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RelatedPartiesPolicyTextBlock', window );">Related Parties</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Related parties</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Parties, which can be a corporation or individual,
are considered to be related if the Company has the ability, directly or indirectly, to control the other party or exercise significant
influence over the other party in making financial and operating decisions. Companies are also considered to be related if they are subject
to common control or common significant influence, such as a family member or relative, shareholder, or a related corporation.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommitmentsAndContingenciesPolicyTextBlock', window );">Commitments and Contingencies</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Commitments and Contingencies</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In the normal course of business, the Company
is subject to contingencies, including legal proceedings and claims arising out of the business that relate to a wide range of matters,
such as government investigations and tax matters. The Company recognizes a liability for such a contingency if it determines it is probable
that a loss has occurred, and a reasonable estimate of the loss can be made. The Company may consider many factors in making these assessments
including historical and the specific facts and circumstances of each matter.</p><span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EarningsPerSharePolicyTextBlock', window );">Earnings per share</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Earnings per share</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company computes earnings per share (&#8220;EPS&#8221;)
in accordance with ASC&#160;260, &#8220;Earnings per Share&#8221;. ASC&#160;260 requires companies to present basic and diluted EPS.&#160;Basic
EPS is measured as net income divided by the weighted average ordinary share outstanding for the period. Diluted EPS presents the dilutive
effect on a per share basis of the potential ordinary shares (e.g., convertible securities, options and warrants) as if they had been
converted at the beginning of the periods presented, or issuance date, if later. Potential ordinary shares that have an anti-dilutive
effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.&#160;For
the&#160;years ended March&#160;31, 2022, 2023 and 2024, there were no dilutive shares.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskCreditRisk', window );">Concentration of Risks</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; background-color: white"><span style="text-decoration:underline">Concentration of Risks</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Concentration of credit
risk</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially expose
the Company to concentrations of credit risk consist primarily of cash and accounts receivable. The Company places its cash with financial
institutions with high credit ratings and quality.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable primarily comprise of amounts
receivable from the service customers. To reduce credit risk, the Company performs ongoing credit evaluations of the financial condition
of these service customers. The Company establishes a provision for doubtful accounts based upon estimates, factors surrounding the credit
risk of specific service customers and other information.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white">Concentration of customers</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2022 and 2023, one major customer,
who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for 96.8% and 99.6% of the
Company&#8217;s total accounts receivable respectively. As of March 31, 2024, two customers, who are distributors represent and sell brands
of well-known manufactures from Japan, the U.S., UK, Europe and Australia accounted for 72.1% and 27.9% of the Company&#8217;s total accounts
receivable respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the years ended March 31, 2022 and 2023, one
major customer, who is a distributor represent and sell brands of well-known manufactures from Japan and abroad, accounted for 97.8% and
91.3% of the Company&#8217;s total revenues respectively. For the year ended March 31, 2024, two major customers, who are distributors
represent and sell brands of well-known manufactures from Japan, the U.S. and Europe, accounted for 74.1% and 16.5% of the Company&#8217;s
total revenues respectively.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Concentration of manufacturers</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2022, two manufacturers accounted
for 82.6% and 15.2% of the total balance of accounts payable respectively. As of March&#160;31, 2023, one manufacturer accounted for 92.3%
of the total balance of accounts payable. As of March&#160;31, 2024, one manufacturer accounted for 97.1% of the total balance of accounts
payable. The manufacturer is a related party, which was disclosed in the Note 10.</p>For the year ended March 31, 2022, two manufacturers
accounted for 77.3% and 22.3% of our total purchases, respectively. For the year ended March&#160;31, 2023, two manufacturers accounted
for 83.1% and 10.4% of our total purchases respectively. For the year ended March&#160;31, 2024, one manufacturer accounted for 88.5 %
of our total purchases.<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SegmentReportingPolicyPolicyTextBlock', window );">Segment reporting</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="text-decoration:underline">Segment reporting</span></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">ASC 280, &#8220;Segment Reporting&#8221;, establishes
standards for reporting information about operating segments on a basis consistent with the Company&#8217;s internal organizational structure
as well as information about geographical areas, business segments and major customers in consolidated financial statements for detailing
the Company&#8217;s business segments. Based on the criteria established by ASC 280, the Company&#8217;s chief operating decision maker
(&#8220;CODM&#8221;) has been identified as the Chief Executive Officer, who reviews consolidated results when making decisions about
allocating resources and assessing performance of the Company. As a whole and hence, the Company has only one reportable segment. The
Company does not distinguish between markets or segments for the purpose of internal reporting. As the Company&#8217;s long-lived assets
are substantially located in Hong Kong, no geographical segments are presented.</p><span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock', window );">Recently issued accounting pronouncements</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Recently issued accounting pronouncements</b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company considers the applicability and impact
of all accounting standards updates (&#8220;ASUs&#8221;). Management periodically reviews new accounting standards that are issued. Under
the Jumpstart Our Business Startups Act of 2012, as amended (the &#8220;JOBS Act&#8221;), the Company meets the definition of an emerging
growth company, or EGC, and has elected the extended transition period for complying with new or revised accounting standards, which delays
the adoption of these accounting standards until they would apply to private companies.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On December 18, 2019, the FASB issued ASU No.
2019-12, Income taxes (Topic 740), Simplifying the Accounting for Income Taxes. This guidance amends ASC Topic 740 and addresses several
aspects including 1) evaluation of step-up tax basis of goodwill when there is not a business combination, 2) policy election to not allocate
consolidated taxes on a separate entity basis to entities not subject to income tax, 3) accounting for tax law changes or rates during
interim periods, 4) ownership changes from equity method investment to subsidiary or vice versa, 5) elimination of exception to intrapetrous
allocation when there is gain in discontinued operations and a loss from continuing operations, and 6) treatment of franchise taxes that
are partially based on income. The amendments in this Update are effective for the Company for fiscal years beginning after December 15,
2021, and interim periods within fiscal years beginning after December 15, 2022. The Company is evaluating the impact of this guidance
on its consolidated financial statements and related disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2020, the FASB issued ASU 2020-08,
&#8220;Codification Improvements to Subtopic 310-20, Receivables&#8212;Nonrefundable Fees and Other Costs&#8221;. The amendments in this
Update represent changes to clarify the Codification. The amendments make the Codification easier to understand and easier to apply by
eliminating inconsistencies and providing clarifications. ASU 2020-08 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022. All entities should apply the amendments in this
Update on a prospective basis as of the beginning of the period of adoption for existing or newly purchased callable debt securities.
These amendments do not change the effective dates for Update 2017-08. The Company is currently evaluating the impact of this new standard
on the Company&#8217;s consolidated financial statements and related disclosures.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2020, the FASB issued ASU 2020-10,
&#8220;Codification Improvements&#8221;. The amendments in this Update represent changes to clarify the Codification or correct unintended
application of guidance that are not expected to have a significant effect on current accounting practice or create a significant administrative
cost to most entities. The amendments in this Update affect a wide variety of Topics in the Codification and apply to all reporting entities
within the scope of the affected accounting guidance. ASU 2020-10 is effective for the Company for fiscal years beginning after December
15, 2021 and interim periods within fiscal years beginning after December 15, 2022.The amendments in this Update should be applied retrospectively.
The Company does not expect the adoption of this standard to have a material impact on its consolidated financial statements.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">In October 2021, the FASB issued ASU 2021-08,
Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires
entities to recognize and measure contract assets and contract liabilities acquired in a business combination in accordance with ASU 2014-09,
Revenue from Contracts with Customers (Topic 606). The update will generally result in an entity recognizing contract assets and contract
liabilities at amounts consistent with those recorded by the acquiree immediately before the acquisition date rather than at fair value.
The new standard is effective on a prospective basis for fiscal years beginning after December 15, 2022, with early adoption permitted.
This standard is effective for the Company on January 1, 2023 and the Company does not expect a significant impact to the consolidated
financial statements upon adoption. However, the ultimate impact is dependent upon the size and frequency of future acquisitions.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company does not believe other recently issued
but not yet effective accounting standards, if currently adopted, would have a material effect on the Company&#8217;s consolidated balance
sheets, consolidated statements of income and consolidated statements of cash flows.</p><span></span>
</td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The disclosure of accounting policy for related parties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for risks and uncertainties.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for the basis of presentation and significant accounting policies concepts. Basis of presentation describes the underlying basis used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS). Accounting policies describe all significant accounting policies of the reporting entity.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 235<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/235/tableOfContent<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_BasisOfPresentationAndSignificantAccountingPoliciesTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482913/230-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsPolicyTextBlock</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for commitments and contingencies, which may include policies for recognizing and measuring loss and gain contingencies.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 954<br> -SubTopic 450<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477850/954-450-50-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 460<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482425/460-10-50-8<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for credit risk.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 942<br> -SubTopic 825<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478898/942-825-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -SubTopic 10<br> -Topic 275<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-4<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 810<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481203/810-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 260<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 260<br> -SubTopic 10<br> -Section 50<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482662/260-10-50-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EarningsPerSharePolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for fair value measurements of financial and non-financial assets, liabilities and instruments classified in shareholders' equity. Disclosures include, but are not limited to, how an entity that manages a group of financial assets and liabilities on the basis of its net exposure measures the fair value of those assets and liabilities.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FairValueMeasurementPolicyPolicyTextBlock</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 830<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/830/tableOfContent<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 360<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 5.CC)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480091/360-10-S99-2<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 05<br> -Paragraph 4<br> -SubTopic 10<br> -Topic 360<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482338/360-10-05-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 20<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-20<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 19<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-19<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 25<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482525/740-10-45-25<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.6-03(h)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479886/946-10-S99-3<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 17<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-17<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482525/740-10-45-28<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482765/220-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
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</tr>
<tr>
<td><strong> Balance Type:</strong></td>
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</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(6)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 330<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483080/330-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483489/210-10-50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-4<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 912<br> -SubTopic 330<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478411/912-330-50-1<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 330<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/330/tableOfContent<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 330<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483080/330-10-50-4<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 6<br> -Subparagraph (a)<br> -SubTopic 10<br> -Topic 270<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482989/270-10-45-6<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeLeasesPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for leasing arrangement entered into by lessee.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478964/842-20-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeLeasesPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NewAccountingPronouncementsPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 360<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8)(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -SubTopic 360<br> -Topic 958<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (d)<br> -SubTopic 360<br> -Topic 958<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueRecognitionPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for revenue. Includes revenue from contract with customer and from other sources.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-4<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (e)<br> -SubTopic 10<br> -Topic 235<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483426/235-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueRecognitionPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SegmentReportingPolicyPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for segment reporting.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 47<br> -Subparagraph (bb)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 29<br> -Subparagraph (f)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-29<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 54<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 36<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-36<br><br>Reference 6: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 47<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 29<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-29<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 29<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-29<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 29<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-29<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 29<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-29<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 29<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-29<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 29<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-29<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SegmentReportingPolicyPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for inclusion of significant items in the selling, general and administrative (or similar) expense report caption.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 720<br> -SubTopic 35<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483406/720-35-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SellingGeneralAndAdministrativeExpensesPolicyTextBlock</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:textBlockItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_TradeAndOtherAccountsReceivablePolicy">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for accounts receivable.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 9<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-9<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-4<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 275<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -SubTopic 10<br> -Topic 275<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 11<br> -SubTopic 10<br> -Topic 275<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-11<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -SubTopic 10<br> -Topic 275<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-12<br><br>Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 8<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-8<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Business and Organization (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
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<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The consolidated financial statements reflect
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1.5pt solid; text-align: left; width: 23%; vertical-align: top"><b>Name</b></td> <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 25%; text-align: center"><b>Background</b></td> <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 15%; text-align: center"><b>Ownership</b></td> <td style="text-align: center; width: 1%; vertical-align: bottom">&#160;</td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; width: 34%; text-align: center"><b>Principal activities</b></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">Raytech Holding Limited (&#8220;Raytech&#8221;)</td> <td>&#160;</td> <td style="text-align: left"><p style="text-align: left; margin-top: 0; margin-bottom: 0">&#9679; A BVI company</p> <p style="text-align: left; margin-top: 0; margin-bottom: 0">&#9679; Incorporated on June 24, 2022&#160;</p></td> <td>&#160;</td> <td><span style="-sec-ix-hidden: hidden-fact-80">-</span></td> <td>&#160;</td> <td style="text-align: justify">Investment holding</td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-align: left; vertical-align: top">&#160;</td> <td>&#160;</td> <td style="text-align: left">&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td> <td>&#160;</td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-align: left; vertical-align: top">Pure Beauty Manufacturing Company Limited (&#8220;Pure Beauty&#8221;)</td> <td>&#160;</td> <td style="text-align: left"><p style="margin-top: 0; margin-bottom: 0">&#9679; A Hong Kong company</p> <p style="text-indent: 0pt; margin-left: 0pt; margin-top: 0pt; margin-bottom: 0pt">&#9679; Incorporated on April 15, 2013</p></td> <td>&#160;</td> <td>100% owned by Raytech</td> <td>&#160;</td> <td style="text-align: justify">Engaged in the sourcing and wholesaling of personal care electrical appliances</td></tr> </table><span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the key aspects of a subsidiary (partnership, corporation, or other entity) of the limited liability company or limited partnership.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
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<th class="th" colspan="1">12 Months Ended</th>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The entire disclosure for intangible assets and long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 30<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/350-30/tableOfContent<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 350<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/350-20/tableOfContent<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 360<br> -Name Accounting Standards Codification<br> -Publisher FASB<br> -URI https://asc.fasb.org/360/tableOfContent<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accounts Receivable, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetAbstract', window );"><strong>Accounts Receivable, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsNotesLoansAndFinancingReceivableTextBlock', window );">Schedule of Accounts Receivable, Net</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable, net consisted of the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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    <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Accounts receivable, net</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableAllowanceForCreditLossTableTextBlock', window );">Schedule of Accounts Receivable, Net of Allowance for Allowance for Doubtful Accounts</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of the end of each of the financial year, the
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of allowance for credit loss on accounts receivable.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Merchandise Inventories, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p></div>
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<head>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment, Net (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNetAbstract', window );"><strong>Property and Equipment, Net [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentTextBlock', window );">Schedule of Property and Equipment, Net</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Property and equipment, net, consisted of the
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(59,428</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(64,296</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,216</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr>
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">4,868</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 360<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Accruals (Tables)<br></strong></div></th>
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<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock', window );">Schedule of Accruals</a></td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">34,000</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 1%">&#160;</td>
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">4,472</td><td style="width: 1%; text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">397,789</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">377,056</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">48,181</td><td style="text-align: left">&#160;</td></tr>
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">184,289</td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">616,078</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 4pt double; font-weight: bold; text-align: left">&#160;</td><td style="border-bottom: Black 4pt double; font-weight: bold; text-align: right">1,018,618</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of the (a) carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business (accounts payable); (b) other payables; and (c) accrued liabilities. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). An alternative caption includes accrued expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Contract Liabilities (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepositContractsLiabilitiesAbstract', window );"><strong>Contract Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerAssetAndLiabilityTableTextBlock', window );">Schedule of Movement in Contract Liabilities</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Movement in contract liabilities, consistent of
the following:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-align: center">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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    <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 9%; text-align: right">217,975</td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="text-align: left">Receipt from the clients</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">3,281,374</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">164,691</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="text-align: left; padding-bottom: 1.5pt">Revenue recognized during the year</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right">(1,575,520</td><td style="padding-bottom: 1.5pt; text-align: left">)</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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</td>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of receivable, contract asset, and contract liability from contract with customer. Includes, but is not limited to, change in contract asset and contract liability.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxDisclosureAbstract', window );"><strong>Taxes [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock', window );">Schedule of Taxation in the Statement of Income</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Taxation in the statement of income represents:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
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    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2022</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
    <td colspan="2" style="font-weight: bold; text-align: center; border-bottom: Black 1.5pt solid">2024</td><td style="padding-bottom: 1.5pt; font-weight: bold">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td>&#160;</td><td style="font-weight: bold">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td>Hong&#160;Kong profits tax provision for the year:</td><td>&#160;</td>
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    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
    <td colspan="2" style="text-align: right">&#160;</td><td>&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="width: 52%">Current</td><td style="width: 1%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-121">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
    <td style="border-bottom: Black 1.5pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1.5pt solid; text-align: right"><div style="-sec-ix-hidden: hidden-fact-122">&#8211;</div></td><td style="padding-bottom: 1.5pt; text-align: left">&#160;</td><td style="padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding-bottom: 2.5pt">&#160;</td><td style="font-weight: bold; padding-bottom: 2.5pt">&#160;</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock', window );">Schedule of Statutory Rates to Effective Tax Rate</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The following table reconciles Hong Kong statutory
rates to the Company&#8217;s effective tax rate:</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

<table cellpadding="0" style="border-collapse: collapse; width: 100%; font: 10pt Times New Roman, Times, Serif; border-spacing: 0px;">
  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom">
    <td style="text-indent: -0.125in; padding-left: 0.125in">&#160;</td><td style="font-weight: bold; padding-bottom: 1.5pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Balances and Transactions (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsAbstract', window );"><strong>Related Party Balances and Transactions [Abstract]</strong></a></td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ScheduleOfRelatedPartyTransactionsTableTextBlock', window );">Schedule of Purchase Products from a Related Party</a></td>
<td class="text"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company&#8217;s relationships with related
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; background-color: white"><b>&#160;</b></p>

<table cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse; border-spacing: 0px;"> <tr style="vertical-align: top"> <td style="text-indent: -0.125in; padding-left: 0.125in; border-bottom: black 1.5pt solid; width: 49%; text-align: justify"><b>Related Party Name</b></td> <td style="width: 2%">&#160;</td> <td style="border-bottom: black 1.5pt solid; width: 49%; text-align: center"><b>Relationship to the Company</b></td></tr> <tr style="vertical-align: top; background-color: rgb(204,238,255)"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify">Mr. Ching Tim Hoi (&#8220;Mr. Ching&#8221;)</td> <td>&#160;</td> <td style="text-align: justify">Controlling shareholder, CEO and Chairman of the Company and Director of Pure Beauty, Director of Raytech Holdings Company Limited, and Executive Director of Zhongshan Raytech </td></tr> <tr style="vertical-align: top; background-color: White"> <td style="text-indent: -0.125in; padding-left: 0.125in; text-align: justify">Zhongshan Raytech Electric Appliances Manufacturing Company Limited (&#8220;Zhongshan Raytech&#8221;)</td> <td>&#160;</td> <td>An entity controlled by Mr. Ching </td></tr> </table><span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_ScheduleOfAmountDueFromADirectorTableTextBlock', window );">Schedule of Amount Due from a Director</a></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</p>

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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of due to a related party consisted.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Commitments and Contingencies (Tables)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
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<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ScheduleOfCondensedBalanceSheetTableTextBlock', window );">Schedule of Amounts Recognized in the Consolidated Balance Sheet</a></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ScheduleOfCondensedBalanceSheetTableTextBlock">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Tabular disclosure of condensed balance sheet, including, but not limited to, balance sheets of consolidated entities and consolidation eliminations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Name Regulation S-X (SX)<br> -Number 210<br> -Section 12<br> -Subsection 04<br> -Paragraph a<br> -Publisher SEC<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 3<br> -Subparagraph (SX 210.12-04(a))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_CommitmentsAndContingenciesDisclosureAbstract</td>
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<DOCUMENT>
<TYPE>XML
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<FILENAME>R32.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Nature of Business and Organization - Schedule of Consolidated Financial Statements (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=ray_RaytechHoldingLimitedMember', window );">Raytech Holding Limited (&#8220;Raytech&#8221;) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems', window );"><strong>Schedule of Consolidated Financial Statements [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner', window );">Background</a></td>
<td class="text">&#9679; A BVI company &#9679; Incorporated on June 24, 2022<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate', window );">Ownership</a></td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose', window );">Principal activities</a></td>
<td class="text">Investment holding<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_OwnershipAxis=ray_PureBeautyManufacturingCompanyLimitedMember', window );">Pure Beauty Manufacturing Company Limited (&#8220;Pure Beauty&#8221;) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems', window );"><strong>Schedule of Consolidated Financial Statements [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner', window );">Background</a></td>
<td class="text">&#9679; A Hong Kong company &#9679; Incorporated on April 15, 2013<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate', window );">Ownership</a></td>
<td class="text">100% owned by Raytech<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose', window );">Principal activities</a></td>
<td class="text">Engaged in the sourcing and wholesaling of personal care electrical appliances<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The number of units or percentage investment held in the subsidiary by the limited liability company or limited partnership.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_SubsidiaryofLimitedLiabilityCompanyorLimitedPartnershipOwnershipInterestRate</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of business purpose of the subsidiary of the limited liability company or limited partnership, for example, its day-to-day operating functions and whether it acts as a holding or operating company.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipBusinessPurpose</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td style="white-space:nowrap;">us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipLineItems</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Individual, partnership, corporation, or other entity that is responsible for the day-to-day administration of the subsidiary of the limited liability company (LLC) or limited partnership (LP). May also include a description of the compensation or fee arrangements--such as incentive compensation--of the managing member or general partner as related to the performance of the subsidiary of the LLC or LP.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_SubsidiaryOfLimitedLiabilityCompanyOrLimitedPartnershipManagingMemberOrGeneralPartner</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=ray_RaytechHoldingLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=ray_RaytechHoldingLimitedMember</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_OwnershipAxis=ray_PureBeautyManufacturingCompanyLimitedMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_OwnershipAxis=ray_PureBeautyManufacturingCompanyLimitedMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
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<tr>
<td><strong> Period Type:</strong></td>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>117
<FILENAME>R33.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies and Practices (Details)<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="5">12 Months Ended</th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ForeignCurrencyTransactionGainBeforeTax', window );">Convenience translation rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 78,499<span></span>
</td>
<td class="nump">$ 1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CashAndCashEquivalentsAtCarryingValue', window );">Cash and cash equivalents</a></td>
<td class="nump">$ 81,047,102<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">35,885,666<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 21,362,580<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 10,431,712<span></span>
</td>
<td class="nump">$ 4,585,500<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ProvisionForDoubtfulAccounts', window );">Provision for doubtful accounts (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PaymentsForRepurchaseOfInitialPublicOffering', window );">Deferred initial public offering cost (in Dollars)</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 257,702<span></span>
</td>
<td class="nump">2,075,897<span></span>
</td>
<td class="nump">265,260<span></span>
</td>
<td class="nump">3,176,871<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredOfferingCosts', window );">Deferred IPO costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5,252,768<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,176,871<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse', window );">Impairment of long-lived assets (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityCurrent', window );">Contract liabilities</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,008,415<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,705,854<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">128,856<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent', window );">Employer contributions, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="nump">5.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations', window );">Tax benefit percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="nump">50.00%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_NumberOfReportableSegments', window );">Number of reporting segment</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="nump">1<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_InvoiceTerm', window );">Payment terms</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">30 days<span></span>
</td>
<td class="text">30 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_EmployeeMonthlyIncome', window );">Employee monthly income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 7,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_IncreaseEmployeeMonthlyIncome', window );">Increase employee monthly income (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 1,500<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MaximumMember', window );">Maximum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_InvoiceTerm', window );">Payment terms</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">120 days<span></span>
</td>
<td class="text">120 days<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_EmployeeMonthlyIncome', window );">Employee monthly income</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount', window );">Employer contributions, value (in Dollars)</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 30,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember', window );">Customer Concentration Risk [Member] | One Customer [Member] | Accounts Receivable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">72.10%<span></span>
</td>
<td class="nump">72.10%<span></span>
</td>
<td class="nump">99.60%<span></span>
</td>
<td class="nump">99.60%<span></span>
</td>
<td class="nump">96.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember', window );">Customer Concentration Risk [Member] | One Customer [Member] | Revenue Benchmark [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">74.10%<span></span>
</td>
<td class="nump">74.10%<span></span>
</td>
<td class="nump">91.30%<span></span>
</td>
<td class="nump">91.30%<span></span>
</td>
<td class="nump">97.80%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember', window );">Customer Concentration Risk [Member] | Customer Two [Member] | Accounts Receivable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">27.90%<span></span>
</td>
<td class="nump">27.90%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember', window );">Customer Concentration Risk [Member] | Customer Two [Member] | Revenue Benchmark [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember', window );">Customer Concentration Risk [Member] | Manufacturer One [Member] | Accounts Payable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">97.10%<span></span>
</td>
<td class="nump">97.10%<span></span>
</td>
<td class="nump">92.30%<span></span>
</td>
<td class="nump">92.30%<span></span>
</td>
<td class="nump">82.60%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember', window );">Customer Concentration Risk [Member] | Manufacturer One [Member] | Purchase [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">88.50%<span></span>
</td>
<td class="nump">88.50%<span></span>
</td>
<td class="nump">83.10%<span></span>
</td>
<td class="nump">83.10%<span></span>
</td>
<td class="nump">77.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember', window );">Customer Concentration Risk [Member] | Manufacturer Two [Member] | Accounts Payable [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">15.20%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskByTypeAxis=us-gaap_CustomerConcentrationRiskMember', window );">Customer Concentration Risk [Member] | Manufacturer Two [Member] | Purchase [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ConcentrationRiskPercentage1', window );">Concentration risk, percentage</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">10.40%<span></span>
</td>
<td class="nump">10.40%<span></span>
</td>
<td class="nump">22.30%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiarySaleOfStockAxis=us-gaap_IPOMember', window );">IPO [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredOfferingCosts', window );">Deferred IPO costs</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 671,203<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_EmployeeMonthlyIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of employee monthly income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_EmployeeMonthlyIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
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<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_IncreaseEmployeeMonthlyIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represent the amount of employee monthly income.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_IncreaseEmployeeMonthlyIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_InvoiceTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Represents the term of payment of invoice.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_InvoiceTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_SummaryofSignificantAccountingPoliciesandPracticesDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CashAndCashEquivalentsAtCarryingValue">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483467/210-10-45-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 230<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CashAndCashEquivalentsAtCarryingValue</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ConcentrationRiskPercentage1">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 42<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 21<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 825<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482907/825-10-50-20<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-18<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 275<br> -SubTopic 10<br> -Section 50<br> -Paragraph 20<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482861/275-10-50-20<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskPercentage1</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479837/606-10-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-8<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479837/606-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredOfferingCosts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Specific incremental costs directly attributable to a proposed or actual offering of securities which are deferred at the end of the reporting period.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 340<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 5.A)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480341/340-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredOfferingCosts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum amount the employee may contribute to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeeAmount</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Maximum percentage of employee gross pay the employee may contribute to a defined contribution plan.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateContinuingOperations">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 231<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateContinuingOperations</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ForeignCurrencyTransactionGainBeforeTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before tax of foreign currency transaction realized and unrealized gain recognized in the income statement.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 830<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481956/830-20-45-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 830<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481926/830-20-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ForeignCurrencyTransactionGainBeforeTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ImpairmentOfLongLivedAssetsHeldForUse">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The aggregate amount of write-downs for impairments recognized during the period for long lived assets held for use (including those held for disposal by means other than sale).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 820<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 100<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482078/820-10-55-100<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 360<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 2<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-2<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 45<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482130/360-10-45-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ImpairmentOfLongLivedAssetsHeldForUse</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_NumberOfReportableSegments">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 47<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-47<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 54<br> -Subparagraph (e)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-54<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 18<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-18<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_NumberOfReportableSegments</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:integerItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PaymentsForRepurchaseOfInitialPublicOffering">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The cash outflow associated with the repurchase of amount received from entity's first offering of stock to the public.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 230<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 15<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-15<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PaymentsForRepurchaseOfInitialPublicOffering</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ProvisionForDoubtfulAccounts">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of expense (reversal of expense) for expected credit loss on accounts receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 13<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ProvisionForDoubtfulAccounts</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MaximumMember</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_AccountsReceivableMember</td>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=us-gaap_SalesRevenueNetMember</td>
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<tr>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=ray_CustomerTwoMember</td>
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<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=ray_ManufacturerOneMember</td>
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<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ConcentrationRiskByBenchmarkAxis=ray_PurchaseMember</td>
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<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_MajorCustomersAxis=ray_ManufacturerTwoMember</td>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Summary of Significant Accounting Policies and Practices - Schedule of Estimated Useful Lives (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OfficeEquipmentMember', window );">Office equipment [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesScheduleofEstimatedUsefulLivesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices - Schedule of Estimated Useful Lives (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">2 years<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember', window );">Office furniture and fixtures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
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<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesScheduleofEstimatedUsefulLivesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices - Schedule of Estimated Useful Lives (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentUsefulLife', window );">Estimated useful lives</a></td>
<td class="text">2 years<span></span>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember', window );">Leasehold improvements [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SummaryofSignificantAccountingPoliciesandPracticesScheduleofEstimatedUsefulLivesDetailsLineItems', window );"><strong>Summary of Significant Accounting Policies and Practices - Schedule of Estimated Useful Lives (Details) [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_PropertyPlantAndEquipmentsEstimatedUsefulLives', window );">Estimated useful lives</a></td>
<td class="text">lesser of lease term or expected useful life<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Describes the periods of time over which an entity anticipates to receive utility from its property, plant and equipment (that is, the periods of time over which an entity allocates the initial cost of its property, plant and equipment).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_SummaryofSignificantAccountingPoliciesandPracticesScheduleofEstimatedUsefulLivesDetailsLineItems</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<td><strong> Name:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>119
<FILENAME>R35.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
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<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Revenue - Schedule of Disaggregation of Revenue (Details)<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_HairStylingSeriesMember', window );">Hair styling series [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SalesOfProductsAbstract', window );"><strong>Sales of products</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Disaggregated revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 31,833,932<span></span>
</td>
<td class="nump">$ 4,067,766<span></span>
</td>
<td class="nump">$ 28,202,591<span></span>
</td>
<td class="nump">$ 17,292,889<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_TrimmerSeriesMember', window );">Trimmer series [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SalesOfProductsAbstract', window );"><strong>Sales of products</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Disaggregated revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">22,684,148<span></span>
</td>
<td class="nump">2,898,599<span></span>
</td>
<td class="nump">8,573,741<span></span>
</td>
<td class="nump">9,759,312<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_EyelashCurlerMember', window );">Eyelash curler [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SalesOfProductsAbstract', window );"><strong>Sales of products</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Disaggregated revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">804,863<span></span>
</td>
<td class="nump">102,846<span></span>
</td>
<td class="nump">1,407,342<span></span>
</td>
<td class="nump">1,853,553<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_NeckCareSeriesMember', window );">Neck care series [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SalesOfProductsAbstract', window );"><strong>Sales of products</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Disaggregated revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">6,816,250<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_NailCareSeriesMember', window );">Nail care series [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SalesOfProductsAbstract', window );"><strong>Sales of products</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Disaggregated revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,413,106<span></span>
</td>
<td class="nump">180,568<span></span>
</td>
<td class="nump">1,217,577<span></span>
</td>
<td class="nump">3,155,090<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_OtherPersonalCareAppliancesMember', window );">Other personal care appliances [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SalesOfProductsAbstract', window );"><strong>Sales of products</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Disaggregated revenue</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">3,230,238<span></span>
</td>
<td class="nump">412,763<span></span>
</td>
<td class="nump">2,981,513<span></span>
</td>
<td class="nump">6,228,823<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_SalesOfProductsMember', window );">Sales of products [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SalesOfProductsAbstract', window );"><strong>Sales of products</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Disaggregated revenue</a></td>
<td class="nump">$ 42,101,829<span></span>
</td>
<td class="nump">$ 5,418,999<span></span>
</td>
<td class="nump">$ 26,011,185<span></span>
</td>
<td class="nump">59,966,287<span></span>
</td>
<td class="nump">7,662,542<span></span>
</td>
<td class="nump">42,382,764<span></span>
</td>
<td class="nump">45,105,917<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_ProductOrServiceAxis=ray_SalesOfToolingMember', window );">Sales of tooling [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_SalesOfProductsAbstract', window );"><strong>Sales of products</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax', window );">Disaggregated revenue</a></td>
<td class="nump">$ 1,147,077<span></span>
</td>
<td class="nump">$ 147,642<span></span>
</td>
<td class="nump">$ 7,006,014<span></span>
</td>
<td class="nump">7,006,014<span></span>
</td>
<td class="nump">895,234<span></span>
</td>
<td class="nump">3,135,475<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_Revenues', window );">Total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 66,972,301<span></span>
</td>
<td class="nump">$ 8,557,776<span></span>
</td>
<td class="nump">$ 45,518,239<span></span>
</td>
<td class="nump">$ 45,105,917<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_SalesOfProductsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_SalesOfProductsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 41<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-41<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 270<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (i)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482964/270-10-50-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (ee)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 4: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 5: http://fasb.org/us-gaap/role/ref/otherTransitionRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 32<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-32<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 924<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 11.L)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479941/924-10-S99-1<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 5<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-5<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 30<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30<br><br>Reference 9: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 42<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-42<br><br>Reference 10: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 11: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 40<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-40<br><br>Reference 12: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 22<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22<br><br>Reference 13: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RevenueFromContractWithCustomerIncludingAssessedTax</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_Revenues">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_Revenues</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=ray_HairStylingSeriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=ray_HairStylingSeriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=ray_TrimmerSeriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=ray_TrimmerSeriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=ray_EyelashCurlerMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=ray_EyelashCurlerMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=ray_NeckCareSeriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=ray_NeckCareSeriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=ray_NailCareSeriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=ray_NailCareSeriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=ray_OtherPersonalCareAppliancesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=ray_OtherPersonalCareAppliancesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=ray_SalesOfProductsMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_ProductOrServiceAxis=ray_SalesOfProductsMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_ProductOrServiceAxis=ray_SalesOfToolingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 40<br> -Paragraph 7<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481628/310-20-40-7<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of allowance for credit loss on accounts receivable.</p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Accounts Receivable, Net - Schedule of Accounts Receivable, Net (Details)<br></strong></div></th>
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<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
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<div>Mar. 31, 2024 </div>
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<div>Mar. 31, 2024 </div>
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<div>Mar. 31, 2023 </div>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableGrossCurrent', window );">Accounts receivable</a></td>
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<td class="nump">$ 1,860,172<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AllowanceForDoubtfulAccountsReceivableCurrent', window );">Less: allowance for doubtful accounts</a></td>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNetCurrent', window );">Accounts receivable, net</a></td>
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<td class="nump">$ 1,734,550<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483467/210-10-45-1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-2<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of allowance for credit loss on accounts receivable, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479344/326-20-45-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481962/310-10-50-4<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Accounts Receivable, Net - Schedule of Accounts Receivable, Net of Allowance for Allowance for Doubtful Accounts (Details)<br></strong></div></th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</td>
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</td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNet', window );">Total accounts receivable, net</a></td>
<td class="nump">14,547,396<span></span>
</td>
<td class="nump">1,858,878<span></span>
</td>
<td class="nump">6,787,330<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables30To59DaysPastDueMember', window );">Within 31 to 60 days [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNoncurrentPastDueLineItems', window );"><strong>Schedule of Accounts Receivable, Net of Allowance for Allowance for Doubtful Accounts [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccountsReceivableNet', window );">Total accounts receivable, net</a></td>
<td class="nump">$ 10,127<span></span>
</td>
<td class="nump">$ 1,294<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 946<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (d)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147477802/946-310-45-1<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(5)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 954<br> -SubTopic 310<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479196/954-310-45-1<br><br>Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNet</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccountsReceivableNoncurrentPastDueLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 326<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 14<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479319/326-20-50-14<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccountsReceivableNoncurrentPastDueLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables1To29DaysPastDueMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables1To29DaysPastDueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
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</div></td></tr>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_FinancingReceivablesPeriodPastDueAxis=us-gaap_FinancingReceivables30To59DaysPastDueMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<td><strong> Data Type:</strong></td>
<td>na</td>
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<td><strong> Balance Type:</strong></td>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Merchandise Inventories, Net - Schedule of Merchandise Inventories, Net (Details)<br></strong></div></th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryLineItems', window );"><strong>Schedule of Merchandise Inventories, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryValuationReserves', window );">Less: inventory allowances</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryNet', window );">Merchandise inventories, net</a></td>
<td class="nump">1,855,686<span></span>
</td>
<td class="nump">237,121<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PublicUtilitiesInventoryAxis=ray_HairStylingSeriesMember', window );">Hair styling series [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryLineItems', window );"><strong>Schedule of Merchandise Inventories, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryGross', window );">Merchandise inventories, net</a></td>
<td class="nump">911,875<span></span>
</td>
<td class="nump">116,520<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PublicUtilitiesInventoryAxis=ray_TrimmerSeriesMember', window );">Trimmer series [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryLineItems', window );"><strong>Schedule of Merchandise Inventories, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryGross', window );">Merchandise inventories, net</a></td>
<td class="nump">23,398<span></span>
</td>
<td class="nump">2,990<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PublicUtilitiesInventoryAxis=ray_NailCareSeriesMember', window );">Nail care series [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryLineItems', window );"><strong>Schedule of Merchandise Inventories, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryGross', window );">Merchandise inventories, net</a></td>
<td class="nump">258,628<span></span>
</td>
<td class="nump">33,048<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PublicUtilitiesInventoryAxis=ray_OtherPersonalCareAppliancesMember', window );">Other personal care appliances [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryLineItems', window );"><strong>Schedule of Merchandise Inventories, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_InventoryGross', window );">Merchandise inventories, net</a></td>
<td class="nump">$ 661,785<span></span>
</td>
<td class="nump">$ 84,563<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryGross">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Gross amount, as of the balance sheet date, of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(6))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryGross</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr>
<td><strong> Data Type:</strong></td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryNet">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483467/210-10-45-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(6))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryNet</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_InventoryValuationReserves">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of valuation reserve for inventory.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 330<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SAB Topic 5.BB)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480581/330-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(6))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_InventoryValuationReserves</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PublicUtilitiesInventoryAxis=ray_HairStylingSeriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PublicUtilitiesInventoryAxis=ray_HairStylingSeriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PublicUtilitiesInventoryAxis=ray_TrimmerSeriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PublicUtilitiesInventoryAxis=ray_TrimmerSeriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PublicUtilitiesInventoryAxis=ray_NailCareSeriesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PublicUtilitiesInventoryAxis=ray_NailCareSeriesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PublicUtilitiesInventoryAxis=ray_OtherPersonalCareAppliancesMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PublicUtilitiesInventoryAxis=ray_OtherPersonalCareAppliancesMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
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<head>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Property and Equipment, Net (Details)<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Property and Equipment, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DepreciationAndAmortization', window );">Depreciation expenses</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 2,928<span></span>
</td>
<td class="nump">$ 4,868<span></span>
</td>
<td class="nump">$ 622<span></span>
</td>
<td class="nump">$ 13,924<span></span>
</td>
<td class="nump">$ 20,433<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DepreciationAndAmortization">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DepreciationAndAmortization</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_PropertyPlantAndEquipmentLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_PropertyPlantAndEquipmentLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
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</TEXT>
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<html>
<head>
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<link rel="stylesheet" type="text/css" href="report.css">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Property and Equipment, Net - Schedule of Property and Equipment, Net (Details)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Schedule of Property and Equipment, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment,Subtotal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 64,296<span></span>
</td>
<td class="nump">$ 8,216<span></span>
</td>
<td class="nump">$ 64,296<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment', window );">Less: accumulated depreciation</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(64,296)<span></span>
</td>
<td class="num">(8,216)<span></span>
</td>
<td class="num">(59,428)<span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentNet', window );">Property and equipment, net</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">4,868<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_OfficeEquipmentMember', window );">Office equipment [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Schedule of Property and Equipment, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment,Subtotal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">52,596<span></span>
</td>
<td class="nump">6,721<span></span>
</td>
<td class="nump">52,596<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember', window );">Office furniture and fixtures [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentLineItems', window );"><strong>Schedule of Property and Equipment, Net [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_PropertyPlantAndEquipmentGross', window );">Property and equipment,Subtotal</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 11,700<span></span>
</td>
<td class="nump">$ 1,495<span></span>
</td>
<td class="nump">$ 11,700<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8)(b))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(14))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Topic 360<br> -SubTopic 10<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(13))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 360<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -SubTopic 10<br> -Topic 360<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 7A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478964/842-20-50-7A<br><br>Reference 3: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(8))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 942<br> -SubTopic 360<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478451/942-360-50-1<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
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<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Accruals - Schedule of Accruals (Details)<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_ScheduleOfAccrualsAbstract', window );"><strong>Schedule of Accruals [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedProfessionalFeesCurrent', window );">Professional fee</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 35,000<span></span>
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<td class="nump">$ 4,472<span></span>
</td>
<td class="nump">$ 34,000<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="nump">377,056<span></span>
</td>
<td class="nump">48,181<span></span>
</td>
<td class="nump">397,789<span></span>
</td>
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<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedSalesCommissionCurrent', window );">Commission</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">606,562<span></span>
</td>
<td class="nump">77,507<span></span>
</td>
<td class="nump">184,289<span></span>
</td>
</tr>
<tr class="reu">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_AccruedLiabilitiesCurrent', window );">Total accruals</a></td>
<td class="nump">$ 920,901<span></span>
</td>
<td class="nump">$ 118,531<span></span>
</td>
<td class="nump">$ 1,018,618<span></span>
</td>
<td class="nump">$ 130,160<span></span>
</td>
<td class="nump">$ 616,078<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for professional fees, such as for legal and accounting services received. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Carrying value as of the balance sheet date of obligations incurred through that date and payable for sales commissions. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 8<br> -Subparagraph (c)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483467/210-10-45-8<br></p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total of the carrying values as of the balance sheet date of obligations incurred through that date and payable for obligations related to services received from employees, such as accrued salaries and bonuses, payroll taxes and fringe benefits. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br></p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Contract Liabilities - Schedule of Movement in Contract Liabilities (Details)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ChangeInContractWithCustomerLiabilityAbstract', window );"><strong>Schedule of Movement in Contract Liabilities [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">At the beginning</a></td>
<td class="nump">$ 1,705,854<span></span>
</td>
<td class="nump">$ 217,975<span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_ReceiptFromTheClients', window );">Receipt from the clients</a></td>
<td class="nump">1,288,856<span></span>
</td>
<td class="nump">164,691<span></span>
</td>
<td class="nump">3,281,374<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized', window );">Revenue recognized during the year</a></td>
<td class="num">(1,986,295)<span></span>
</td>
<td class="num">(253,810)<span></span>
</td>
<td class="num">(1,575,520)<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ContractWithCustomerLiability', window );">At the end</a></td>
<td class="nump">$ 1,008,415<span></span>
</td>
<td class="nump">$ 128,856<span></span>
</td>
<td class="nump">$ 1,705,854<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_ReceiptFromTheClients">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of receipt from the clients.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_ReceiptFromTheClients</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ChangeInContractWithCustomerLiabilityAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ChangeInContractWithCustomerLiabilityAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of obligation to transfer good or service to customer for which consideration has been received or is receivable.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479837/606-10-45-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-8<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 2<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479837/606-10-45-2<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
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</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ContractWithCustomerLiabilityRevenueRecognized">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of revenue recognized that was previously included in balance of obligation to transfer good or service to customer for which consideration from customer has been received or is due.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 606<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 8<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479806/606-10-50-8<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ContractWithCustomerLiabilityRevenueRecognized</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes (Details) - USD ($)<br></strong></div></th>
<th class="th" colspan="3">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>Mar. 31, 2024</div></th>
<th class="th"><div>Mar. 31, 2023</div></th>
<th class="th"><div>Mar. 31, 2022</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowanceLineItems', window );"><strong>Taxes [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Profits tax at a rate</a></td>
<td class="nump">16.50%<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationTaxExemptIncome', window );">Withholding taxes</a></td>
<td class="text"> <span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_UnrecognizedTaxBenefits', window );">Unrecognized tax benefits</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_StatementGeographicalAxis=country_HK', window );">Hong Kong [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ValuationAllowanceLineItems', window );"><strong>Taxes [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Profits tax at a rate</a></td>
<td class="nump">16.50%<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 231<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.1.Q1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>dtr-types:percentItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationTaxExemptIncome">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to income (loss) exempt from income taxes.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12A<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12A<br> -Subparagraph (a)(7)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationTaxExemptIncome</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_UnrecognizedTaxBenefits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of unrecognized tax benefits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 217<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482663/740-10-55-217<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 15A<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-15A<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 10B<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482525/740-10-45-10B<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_UnrecognizedTaxBenefits</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ValuationAllowanceLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ValuationAllowanceLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_StatementGeographicalAxis=country_HK">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<head>
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<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes - Schedule of Taxation in the Statement of Income (Details)<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract', window );"><strong>Schedule of Taxation in the Statement of Income [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CurrentIncomeTaxExpenseBenefit', window );">Current</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,817,000<span></span>
</td>
<td class="nump">$ 359,959<span></span>
</td>
<td class="nump">$ 1,181,056<span></span>
</td>
<td class="nump">$ 1,739,988<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_DeferredIncomeTaxExpenseBenefit', window );">Deferred</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_IncomeTaxExpensesBenefit', window );">Total</a></td>
<td class="nump">$ 290,920<span></span>
</td>
<td class="nump">$ 37,445<span></span>
</td>
<td class="nump">$ 1,139,449<span></span>
</td>
<td class="nump">$ 2,817,000<span></span>
</td>
<td class="nump">$ 359,959<span></span>
</td>
<td class="nump">$ 1,181,056<span></span>
</td>
<td class="nump">$ 1,739,988<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_IncomeTaxExpensesBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_IncomeTaxExpensesBenefit</td>
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<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_ComponentsOfIncomeTaxExpenseBenefitContinuingOperationsAbstract</td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_CurrentIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(1)(Note 1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_CurrentIncomeTaxExpenseBenefit</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_DeferredIncomeTaxExpenseBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 28<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 230<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482740/230-10-45-28<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(1)(Note 1))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -SubTopic 10<br> -Topic 740<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-9<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_DeferredIncomeTaxExpenseBenefit</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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<DOCUMENT>
<TYPE>XML
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Taxes - Schedule of Statutory Rates to Effective Tax Rate (Details)<br></strong></div></th>
<th class="th" colspan="3">6 Months Ended</th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationTaxSettlementsAbstract', window );"><strong>Schedule of Statutory Rates to Effective Tax Rate [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeLossAttributableToParent', window );">Income before tax</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 12,753,794<span></span>
</td>
<td class="nump">$ 1,629,691<span></span>
</td>
<td class="nump">$ 7,473,926<span></span>
</td>
<td class="nump">$ 11,180,378<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate', window );">Hong Kong statutory income tax rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
<td class="nump">16.50%<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate', window );">Income tax expense computed at statutory rate</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 2,104,376<span></span>
</td>
<td class="nump">$ 268,899<span></span>
</td>
<td class="nump">$ 1,233,198<span></span>
</td>
<td class="nump">$ 1,844,763<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_ReconcilingItemsAbstract', window );"><strong>Reconciling items:</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationNondeductibleExpense', window );">Non-deductible items in Hong Kong</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">272,376<span></span>
</td>
<td class="nump">34,804<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_IncomeTaxReconciliationNonTaxableExpense', window );">Non-taxable items in Hong Kong</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(608,034)<span></span>
</td>
<td class="num">(77,695)<span></span>
</td>
<td class="num">(46,142)<span></span>
</td>
<td class="num">(94,775)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes', window );">Under provision for prior year</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">1,051,282<span></span>
</td>
<td class="nump">134,334<span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_IncomeTaxReconciliationTaxCredits', window );">Tax credit</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="num">(3,000)<span></span>
</td>
<td class="num">(383)<span></span>
</td>
<td class="num">(6,000)<span></span>
</td>
<td class="num">(10,000)<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_IncomeTaxExpensesBenefit', window );">Effective income tax expenses</a></td>
<td class="nump">$ 290,920<span></span>
</td>
<td class="nump">$ 37,445<span></span>
</td>
<td class="nump">$ 1,139,449<span></span>
</td>
<td class="nump">$ 2,817,000<span></span>
</td>
<td class="nump">$ 359,959<span></span>
</td>
<td class="nump">$ 1,181,056<span></span>
</td>
<td class="nump">$ 1,739,988<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_IncomeTaxExpensesBenefit">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_IncomeTaxExpensesBenefit</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nontaxable expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_IncomeTaxReconciliationNonTaxableExpense</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_ReconcilingItemsAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
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<td><strong> Data Type:</strong></td>
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</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Percentage of domestic federal statutory tax rate applicable to pretax income (loss).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 231<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SAB Topic 6.I.1.Q1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479360/740-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 235<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.4-08(h)(2))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate</td>
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<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Period Type:</strong></td>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeLossAttributableToParent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount, before tax, of income (loss) attributable to parent. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and equity method investments.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 2<br> -Subparagraph (SX 210.5-03(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 220<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 6<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482765/220-10-50-6<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeLossAttributableToParent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>The amount of income tax expense or benefit for the period computed by applying the domestic federal statutory tax rates to pretax income from continuing operations.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 231<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482663/740-10-55-231<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationNondeductibleExpense">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to nondeductible expenses.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12A<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12A<br> -Subparagraph (a)(7)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationNondeductibleExpense</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
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<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to revisions of previously reported income tax expense (benefit).</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Subparagraph (b)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationPriorYearIncomeTaxes</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
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</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_IncomeTaxReconciliationTaxCredits">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of the difference between reported income tax expense (benefit) and expected income tax expense (benefit) computed by applying the domestic federal statutory income tax rates to pretax income (loss) from continuing operations attributable to tax credits. Including, but not limited to, research credit, foreign tax credit, investment tax credit, and other tax credits.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12A<br> -Subparagraph (b)(1)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12A<br> -Subparagraph (a)(5)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12A<br><br>Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 740<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 12<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482685/740-10-50-12<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationTaxCredits</td>
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<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
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<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
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<td><strong> Balance Type:</strong></td>
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<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_IncomeTaxReconciliationTaxSettlementsAbstract</td>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Balances and Transactions - Schedule of Related Parties (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr><th class="th"><div>Mar. 31, 2024</div></th></tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_MrChingTimHoiMrChingMember', window );">Mr. Ching Tim Hoi (&#8220;Mr. Ching&#8221;) [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Schedule of Related Parties [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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<td class="text">Controlling shareholder, CEO and Chairman of the Company and Director of Pure Beauty, Director of Raytech Holdings Company Limited, and Executive Director of Zhongshan Raytech<span></span>
</td>
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<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_ZhongshanRaytechElectricAppliancesManufacturingCompanyLimitedZhongshanRaytechMember', window );">Zhongshan Raytech Electric Appliances Manufacturing Company Limited (&#8220;Zhongshan Raytech&#8221;) [Member]</a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionLineItems', window );"><strong>Schedule of Related Parties [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
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</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDescriptionOfTransaction', window );">Related parties</a></td>
<td class="text">An entity controlled by Mr. Ching<span></span>
</td>
</tr>
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<div style="display: none;">
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<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A description of the related party transaction, including transactions to which no amounts or nominal amounts were ascribed and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements. Examples of common related party transactions are, sales, purchases and transfers of realty and personal property, services received or furnished, loans and leases to and from top management and affiliates.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionDescriptionOfTransaction</td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 310<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 13<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481990/310-10-45-13<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(i))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(c)(2)(ii))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br><br>Reference 4: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 220<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-07(2)(g)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Balances and Transactions - Schedule of Amount Due from a Director (Details)<br></strong></div></th>
<th class="th" colspan="1">12 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1"></th>
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<tr>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
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<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDescriptionOfTransaction', window );">Nature of transactions</a></td>
<td class="text">Total<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="nump">$ 145,166<span></span>
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<td class="text"> <span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_MrChingMember', window );">Mr. Ching [Member]</a></td>
<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RelatedPartyBalancesandTransactionsScheduleofAmountDuefromaDirectorDetailsLineItems', window );"><strong>Schedule of Amount Due from a Director [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
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<td class="pl custom" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RelatedPartyTransactionDescriptionOfRelationship', window );">Relationship</a></td>
<td class="text">Mr. Ching is a director of Pure Beauty<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionDescriptionOfTransaction', window );">Nature of transactions</a></td>
<td class="text">The receivable represented payments made on behalf of the director and shareholder by Pure Beauty. The loan agreement provides that borrowings are interest-free and are payable on demand.  The amount was wholly settled in cash subsequently on June 28, 2024.<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherReceivables', window );">Amount due from a director</a></td>
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<td class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the related party transaction description of relationship.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount due from parties in nontrade transactions, classified as other.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 280<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 49<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482785/280-10-55-49<br><br>Reference 2: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 946<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.6-04(5)(a)(5))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479170/946-210-S99-1<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(3)(a)(4))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 944<br> -SubTopic 210<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.7-03(a)(3))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478777/944-210-S99-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>A description of the related party transaction, including transactions to which no amounts or nominal amounts were ascribed and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements. Examples of common related party transactions are, sales, purchases and transfers of realty and personal property, services received or furnished, loans and leases to and from top management and affiliates.</p></div>
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<tr>
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</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_MrChingMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_MrChingMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>133
<FILENAME>R49.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Related Party Balances and Transactions - Schedule of Due to a Related Party Consisted (Details) - Related Party [Member]<br></strong></div></th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Sep. 30, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems', window );"><strong>Schedule of Due to a Related Party Consisted [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesCurrent', window );">Total</a></td>
<td class="nump">$ 20,418,181<span></span>
</td>
<td class="nump">$ 2,628,059<span></span>
</td>
<td class="nump">$ 24,278,340<span></span>
</td>
<td class="nump">$ 3,102,306<span></span>
</td>
<td class="nump">$ 8,768,420<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionAxis=us-gaap_RelatedPartyMember', window );">Zhongshan Raytech [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems', window );"><strong>Schedule of Due to a Related Party Consisted [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OtherLiabilitiesCurrent', window );">Total</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">$ 24,278,340<span></span>
</td>
<td class="nump">$ 3,102,306<span></span>
</td>
<td class="nump">$ 8,768,420<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_RelatedPartyBalancesandTransactionsScheduleofDuetoaRelatedPartyConsistedDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OtherLiabilitiesCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of liabilities classified as other, due within one year or the normal operating cycle, if longer.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef<br> -Topic 210<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section S99<br> -Paragraph 1<br> -Subparagraph (SX 210.5-02(20))<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1<br><br>Reference 2: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 852<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 10<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147481372/852-10-55-10<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OtherLiabilitiesCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionAxis=us-gaap_RelatedPartyMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionAxis=us-gaap_RelatedPartyMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_ZhongshanRaytechMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_ZhongshanRaytechMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>134
<FILENAME>R50.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
							if (e.nextSibling.style.display=='none') {
							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Related Party Balances and Transactions - Schedule of Purchase Products from a Related Party (Details)<br></strong></div></th>
<th class="th" colspan="4">12 Months Ended</th>
</tr>
<tr>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2022 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems', window );"><strong>Schedule of Purchase Products from a Related Party [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Total purchase from related party</a></td>
<td class="nump">$ 47,704,656<span></span>
</td>
<td class="nump">$ 6,095,741<span></span>
</td>
<td class="nump">$ 28,301,082<span></span>
</td>
<td class="nump">$ 24,221,784<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_ZhongshanRaytechMember', window );">Zhongshan Raytech [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems', window );"><strong>Schedule of Purchase Products from a Related Party [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty', window );">Total purchase from related party</a></td>
<td class="nump">$ 47,704,656<span></span>
</td>
<td class="nump">$ 6,095,741<span></span>
</td>
<td class="nump">$ 28,301,082<span></span>
</td>
<td class="nump">$ 24,221,784<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_RelatedPartyBalancesandTransactionsScheduleofPurchaseProductsfromaRelatedPartyDetailsLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Purchases during the period (excluding transactions that are eliminated in consolidated or combined financial statements) with related party.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionPurchasesFromRelatedParty</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_ZhongshanRaytechMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_RelatedPartyTransactionsByRelatedPartyAxis=ray_ZhongshanRaytechMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>XML
<SEQUENCE>135
<FILENAME>R51.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
							function toggleNextSibling (e) {
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							e.nextSibling.style.display='block';
							} else { e.nextSibling.style.display='none'; }
							}</script>
</head>
<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Equity (Details) - shares<br></strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2">12 Months Ended</th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="2"></th>
<th class="th" colspan="2"></th>
</tr>
<tr>
<th class="th"><div>May 10, 2023</div></th>
<th class="th" colspan="2"><div>Mar. 31, 2024</div></th>
<th class="th" colspan="2"><div>Sep. 30, 2024</div></th>
<th class="th"><div>Sep. 30, 2023</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th" colspan="2"><div>Mar. 31, 2023</div></th>
<th class="th"><div>Aug. 02, 2022</div></th>
<th class="th"><div>Mar. 31, 2022</div></th>
<th class="th"><sup>[1]</sup></th>
<th class="th"><div>Mar. 31, 2021</div></th>
<th class="th"><sup>[1]</sup></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsidiarySaleOfStockLineItems', window );"><strong>Equity [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_CommonStockSharesIssued', window );">Shares issued</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_StockholdersEquityNoteStockSplit', window );">Stock split ratio</a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">1-to-160,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
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<td class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
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<tr class="re">
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<td class="text">&#160;<span></span>
</td>
<td class="text">160,000
for 1<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
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<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
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<td class="nump">16,000,000<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="nump">100<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
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<td class="nump">100<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
<td colspan="2" class="text">&#160;<span></span>
</td>
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<td class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="nump">17,613,083<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td colspan="2" class="nump">16,000,000<span></span>
</td>
<td class="nump">16,000,000<span></span>
</td>
<td class="fn" style="border-bottom: 0px;"><sup>[1]</sup></td>
<td class="text">&#160;<span></span>
</td>
<td colspan="2" class="nump">16,000,000<span></span>
</td>
<td colspan="2" class="nump">16,000,000<span></span>
</td>
</tr>
<tr><td colspan="15"></td></tr>
<tr><td colspan="15"><table class="outerFootnotes" width="100%"><tr class="outerFootnote">
<td style="vertical-align: top; width: 12pt;" valign="top">[1]</td>
<td style="vertical-align: top;" valign="top">1,500,000 ordinary shares were issued on May 15, 2024, and 113,083 ordinary shares were issued on July 5, 2024.</td>
</tr></table></td></tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Total number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Number of shares issued during the period as a result of a stock split.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Description of the stock split arrangement. Also provide the retroactive effect given by a stock split that occurs after the balance date but before the release of financial statements.</p></div>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments and Contingencies (Details)<br></strong></div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingenciesLineItems', window );"><strong>Commitments and Contingencies [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeOperatingLeaseRenewalTerm', window );">Lease terms range</a></td>
<td class="text">1 year<span></span>
</td>
</tr>
<tr class="rh">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_srt_RangeAxis=srt_MinimumMember', window );">Minimum [Member]</a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LossContingenciesLineItems', window );"><strong>Commitments and Contingencies [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_LesseeOperatingLeaseRenewalTerm', window );">Lease terms range</a></td>
<td class="text">1 year<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LesseeOperatingLeaseRenewalTerm">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Term of lessee's operating lease renewal, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Subparagraph (a)(3)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147478964/842-20-50-3<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LesseeOperatingLeaseRenewalTerm</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:durationItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_LossContingenciesLineItems">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 450<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483076/450-20-50-4<br><br>Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef<br> -Topic 450<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483076/450-20-50-9<br><br>Reference 3: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 720<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483359/720-20-50-1<br><br>Reference 4: http://www.xbrl.org/2003/role/exampleRef<br> -Topic 460<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 55<br> -Paragraph 27<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482395/460-10-55-27<br><br>Reference 5: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 450<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 9<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483076/450-20-50-9<br><br>Reference 6: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 450<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 4<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483076/450-20-50-4<br><br>Reference 7: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 460<br> -SubTopic 10<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 3<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147482425/460-10-50-3<br><br>Reference 8: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 450<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 50<br> -Paragraph 1<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147483076/450-20-50-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_LossContingenciesLineItems</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_srt_RangeAxis=srt_MinimumMember">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Details</a><div><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">srt_RangeAxis=srt_MinimumMember</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td></td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td></td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
</DOCUMENT>
<DOCUMENT>
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<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="1"><div style="width: 200px;"><strong>Commitments and Contingencies - Schedule of Amounts Recognized in the Consolidated Balance Sheet (Details)<br></strong></div></th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>HKD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2024 </div>
<div>USD ($)</div>
</th>
<th class="th">
<div>Mar. 31, 2023 </div>
<div>HKD ($)</div>
</th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_ScheduleOfAmountsRecognizedInTheConsolidatedBalanceSheetAbstract', window );"><strong>Schedule of Amounts Recognized in the Consolidated Balance Sheet [Abstract]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseRightOfUseAsset', window );">Right-of-use assets</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 85,477<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_ray_OperatingLeaseLiabilitiesAbstract', window );"><strong>Operating lease liabilities</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
</tr>
<tr class="ro">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityCurrent', window );">Current</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">87,972<span></span>
</td>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiabilityNoncurrent', window );">Non-current</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
</tr>
<tr class="rou">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_OperatingLeaseLiability', window );">Total</a></td>
<td class="text"> <span></span>
</td>
<td class="text"> <span></span>
</td>
<td class="nump">$ 87,972<span></span>
</td>
</tr>
</table>
<div style="display: none;">
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_OperatingLeaseLiabilitiesAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_OperatingLeaseLiabilitiesAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_ray_ScheduleOfAmountsRecognizedInTheConsolidatedBalanceSheetAbstract">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- References</a><div><p>No definition available.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">ray_ScheduleOfAmountsRecognizedInTheConsolidatedBalanceSheetAbstract</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>ray_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:stringItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>na</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>duration</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiability">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479041/842-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiability</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityCurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as current.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479041/842-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityCurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseLiabilityNoncurrent">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Present value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (b)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479041/842-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseLiabilityNoncurrent</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>credit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
<table border="0" cellpadding="0" cellspacing="0" class="authRefData" style="display: none;" id="defref_us-gaap_OperatingLeaseRightOfUseAsset">
<tr><td class="hide"><a style="color: white;" href="javascript:void(0);" onclick="top.Show.hideAR();">X</a></td></tr>
<tr><td><div class="body" style="padding: 2px;">
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">- Definition</a><div><p>Amount of lessee's right to use underlying asset under operating lease.</p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>Reference 1: http://www.xbrl.org/2003/role/disclosureRef<br> -Topic 842<br> -SubTopic 20<br> -Name Accounting Standards Codification<br> -Section 45<br> -Paragraph 1<br> -Subparagraph (a)<br> -Publisher FASB<br> -URI https://asc.fasb.org/1943274/2147479041/842-20-45-1<br></p></div>
<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ Details</a><div style="display: none;"><table border="0" cellpadding="0" cellspacing="0">
<tr>
<td><strong> Name:</strong></td>
<td style="white-space:nowrap;">us-gaap_OperatingLeaseRightOfUseAsset</td>
</tr>
<tr>
<td style="padding-right: 4px;white-space:nowrap;"><strong> Namespace Prefix:</strong></td>
<td>us-gaap_</td>
</tr>
<tr>
<td><strong> Data Type:</strong></td>
<td>xbrli:monetaryItemType</td>
</tr>
<tr>
<td><strong> Balance Type:</strong></td>
<td>debit</td>
</tr>
<tr>
<td><strong> Period Type:</strong></td>
<td>instant</td>
</tr>
</table></div>
</div></td></tr>
</table>
</div>
</body>
</html>
</TEXT>
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<DOCUMENT>
<TYPE>XML
<SEQUENCE>138
<FILENAME>R54.htm
<DESCRIPTION>IDEA: XBRL DOCUMENT
<TEXT>
<html>
<head>
<title></title>
<link rel="stylesheet" type="text/css" href="report.css">
<script type="text/javascript" src="Show.js">/* Do Not Remove This Comment */</script><script type="text/javascript">
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<body>
<span style="display: none;">v3.25.1</span><table class="report" border="0" cellspacing="2" id="id2">
<tr>
<th class="tl" colspan="1" rowspan="2"><div style="width: 200px;"><strong>Subsequent Events (Details) - USD ($)<br> $ / shares in Units, $ in Millions</strong></div></th>
<th class="th" colspan="1"></th>
<th class="th" colspan="1">12 Months Ended</th>
</tr>
<tr>
<th class="th"><div>May 15, 2024</div></th>
<th class="th"><div>Mar. 31, 2024</div></th>
</tr>
<tr class="re">
<td class="pl" style="border-bottom: 0px;" valign="top"><a class="a" href="javascript:void(0);" onclick="top.Show.showAR( this, 'defref_us-gaap_SubsequentEventLineItems', window );"><strong>Subsequent Events [Line Items]</strong></a></td>
<td class="text">&#160;<span></span>
</td>
<td class="text">&#160;<span></span>
</td>
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<tr class="ro">
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<td class="text">&#160;<span></span>
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<a href="javascript:void(0);" onclick="top.Show.toggleNext( this );">+ References</a><div style="display: none;"><p>No definition available.</p></div>
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