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Condensed financial information of the Company (Tables) | 12 Months Ended
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Mar. 31, 2023
Condensed financial information of the Company |
Summary of condensed financial information of the Company on a parent company only basis | The following is the condensed financial information of the Company on a parent company only basis. ​ Condensed balance sheets ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of March 31,
​ |  | 2023 |  | 2022
ASSETS |  | ​ |  |  | ​ |
Current assets: |  | ​ |  |  | ​ |
Cash and cash equivalents | ​ | $ | 1,198,204 | ​ | $ | 2,622,624
Deferred expenses | ​ |  | 46,500 | ​ |  | 48,624
Prepayment and other current assets | ​ |  | — | ​ |  | 148,355
Amounts due from subsidiaries and VIE | ​ |  | 3,766,314 | ​ |  | —
Investment in subsidiaries and VIE | ​ |  | 22,721,204 | ​ |  | 48,796,630
TOTAL ASSETS | ​ | $ | 27,732,222 | ​ | $ | 51,616,233
LIABILITIES | ​ |  |  | ​ |  |
Current liabilities: | ​ |  |  | ​ |  |
Amounts due to related parties | ​ |  | 2,107 | ​ |  | 2,443
Amounts due to subsidiaries and VIE | ​ |  | — | ​ |  | 967,522
Other payables | ​ |  | 775,873 | ​ |  | 382,983
TOTAL LIABILITIES | ​ | $ | 777,980 | ​ | $ | 1,352,948
​ | ​ | ​ | ​ | ​ | ​ | ​
SHAREHOLDERS’ EQUITY: | ​ |  |  | ​ |  |
Ordinary shares, par value $0.0002 per share, 500,000,000 shares authorized; 14,900,000 shares issued and outstanding as of March 31, 2023 and 2022, respectively | ​ |  | 2,980 | ​ |  | 2,980
Additional paid-in capital | ​ |  | 19,055,407 | ​ |  | 18,055,407
Statutory reserve | ​ |  | 745,590 | ​ |  | 745,590
Accumulated Profits | ​ |  | 8,111,900 | ​ |  | 29,018,885
Accumulated other comprehensive income/(loss) | ​ |  | (961,635) | ​ |  | 2,440,423
TOTAL SHAREHOLDERS’ EQUITY | ​ | $ | 26,954,242 | ​ | $ | 50,263,285
​ Condensed statements of income ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended March 31,
​ |  | 2023 |  | 2022 |  | 2021
General and administrative expenses | ​ | $ | (2,226,956) | ​ | $ | (2,790,459) | ​ | $ | (2,493,845)
Investment loss, net | ​ |  | — | ​ |  | — | ​ |  | (2,436,809)
Share of profit in subsidiaries and VIE | ​ |  | (18,678,368) | ​ |  | 1,476,806 | ​ |  | 8,428,844
Others, net | ​ |  | (1,661) | ​ |  | (86,639) | ​ |  | (185)
Income before income tax provision | ​ |  | (20,906,985) | ​ |  | (1,400,292) | ​ |  | 3,498,005
Provision for income tax | ​ |  | — | ​ |  | — | ​ |  | —
Net profit | ​ | $ | (20,906,985) | ​ | $ | (1,400,292) | ​ | $ | 3,498,005
​ Condensed cash flow ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the year ended March 31,
​ |  | 2023 |  | 2022 |  | 2021
Net cash used in operating activities | ​ | $ | (1,779,420) | ​ | $ | (3,157,114) | ​ | $ | (2,506,846)
Net cash generated from (used in) investing activities | ​ |  | (645,000) | ​ |  | 3,043,030 | ​ |  | (8,000,000)
Net cash generated from financing activities | ​ |  | 1,000,000 | ​ |  | — | ​ |  | 13,243,554
Net cash inflow(outflow) | ​ | $ | (1,424,420) | ​ | $ | (114,084) | ​ | $ | 2,736,708
​ Condensed statements of comprehensive income ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | For the years ended March 31,
​ |  | 2023 |  | 2022 |  | 2021
Net income (loss) | ​ | $ | (20,906,985) | ​ | $ | (1,400,292) | ​ | $ | 3,498,005
Other comprehensive income (loss) | ​ |  | (3,402,058) | ​ |  | 1,458,405 | ​ |  | 2,388,306
Comprehensive income (loss) | ​ | $ | (24,309,043) | ​ | $ | 58,113 | ​ | $ | 5,886,311

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- Definition Tabular disclosure of condensed financial statements, including, but not limited to, the balance sheet, income statement, and statement of cash flows. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Paragraph (a) -Subsection 04 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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