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Credit facilities
 6 Months Ended
Mar. 31, 2025
Credit Facilities  
Credit facilities

Note 8 – Credit facilities

 

Short-term loans – banks

 

Outstanding balances on short-term bank loans consist of the following as of March 31, 2025:

 

                           
Bank Name   Maturities   Interest
Rate		   Collateral/Guarantee   Amount
                (Unaudited)
Bank of China     November 24, 2025       3.10 %   Ke Chen and Jinshan Yao acted as co-borrower   $ 689,019  
Bank of China     November 20, 2025       3.10 %   Ke Chen and Jinshan Yao acted as co-borrower     413,411  
Bank of Chengdu     December 2,2025       3.60 %   Guaranteed by Ke Chen and Jinshan Yao     150,206  
Bank of Chengdu     December 9, 2025       3.60 %   Guaranteed by Ke Chen and Jinshan Yao     413,411  
Rural Commercial Bank of China     April 2, 2025(Fully repaid in April 2025)       4.00 %   Guaranteed by Ke Chen, Jinshan Yao and Chengdu Wuhou Small and Medium-sized Enterprise Financing Guarantee Co., Ltd.     275,607  
Industrial and Commercial Bank of China     September 10, 2025       3.45 %   Guaranteed by Chengdu Tiantou Financing Guarantee Co., Ltd.     545,703  
Total                       $ 2,487,357  

 

Outstanding balances on short-term bank loans consist of the following as of September 30, 2024:

 

Bank Name   Maturities   Interest
Rate		   Collateral/Guarantee   Amount
                 
Bank of Chengdu     November 28, 2024 (Fully repaid in November 2024)       4.00 %   Guaranteed by Ke Chen and Jinshan Yao   $ 155,324  
Bank of Chengdu     December 18, 2024 (Fully repaid in December 2024)       4.00 %   Guaranteed by Ke Chen and Jinshan Yao, and pledged by the Company’s two registered patents     427,497  
Bank of China     November 28, 2024 (Fully repaid in November 2024)       3.45 %   No collateral or guarantee     427,497  
Rural Commercial Bank of China     April 2, 2025 (Fully repaid in April 2025)       4.00 %   Guaranteed by Ke Chen, Jinshan Yao and Chengdu Wuhou Small and Medium-sized Enterprise Financing Guarantee Co., Ltd.     284,998  
Industrial and Commercial Bank of China     September 10, 2025       3.45 %   Guaranteed by Chengdu Tiantou Financing Guarantee Co., Ltd.     564,294  
Total                       $ 1,859,610  

  

 Long-term loans – banks

 

Outstanding balances on long-term bank loans consist of the following as of March 31, 2025:

 

                  
Bank Name  Maturities  Interest
Rate		  Collateral/Guarantee  Amount
            (Unaudited)
Weizhong Bank   December 23, 2026    10.44%  Guaranteed by Ke Chen   275,607 
Bank of Chengdu   December 20, 2025    4.00%  Guaranteed by Ke Chen and Jinshan Yao and pledged by two real estate properties owned by Jinshan Yao and Ke Chen’s immediate family   551,215 
                $826,822 

 

Outstanding balances on long-term bank loans consist of the following as of September 30, 2024:

 

Bank Name  Maturities  Interest
Rate		  Collateral/Guarantee  Amount
            
Bank of Chengdu   December 20, 2025    4.00%  Guaranteed by Ke Chen and Jinshan Yao and pledged by two real estate properties owned by Ke Chen, Jinshan Yao and Ke Chen’s immediate family  $569,995 

 

Long-term loans – a third party

 

Outstanding balances on long-term third-party loans consist of the following as of March 31, 2025:

 

 

Bank Name  Maturities  Interest
Rate		  Collateral/Guarantee  Amount
            (Unaudited)
Huaneng Guicheng Trust   December 23, 2026    10.44%  Guaranteed by Ke Chen  $137,804 

 

 

Interest expense pertaining to the above loans for the six months ended March 31, 2025 and 2024 amounted to $57,566 and $67,109, respectively.

 

Letter of guarantees – banks

 

As of March 31, 2025, letters of guarantee were provided by banks with an aggregate amount of $514,601 ($252,085 maturing within one year and $262,516 maturing within two years) to secure the Company’s assurance-type warranties. The letters of guarantee were pledged by restricted cash held by the Company amounted to $194,647 and third parties, that were counter guaranteed by the Company.

 

As of September 30, 2024, letters of guarantee were provided by banks with an aggregate amount of $348,125 ($146,845 maturing within one year and $201,280 maturing within two years) to secure the Company’s assurance-type warranties. The letters of guarantee were pledged by restricted cash held by the Company amounted to $348,399.