XML 161 R48.htm IDEA: XBRL DOCUMENT v3.24.4
Condensed financial information of the Company (Tables)
 6 Months Ended
Sep. 30, 2024
Condensed Financial Information Disclosure [Abstract]  
Summary of Condensed Balance Sheet

The condensed financial information of the parent company has been prepared in accordance with SEC Regulation, using the same accounting policies as set out in the Group’s consolidated financial statements.

 

Condensed balance sheets

  

   September 30, 2024   March 31, 2024 
   As of 
   September 30, 2024   March 31, 2024 
   (Unaudited)   (Audited) 
ASSETS          
Current assets:          
Cash and cash equivalents  $95,454   $231,694 
Deferred expenses   16,375    49,125 
Prepayment and other current assets   —    70,000 
Amounts due from subsidiaries and VIE   3,792,600    3,791,734 
Investment in subsidiaries and VIE   15,466,740    17,358,111 
TOTAL ASSETS  $19,371,169   $21,500,664 
Amounts due to related parties   7,107    2,107 
Note payable   100,115    — 
Accrued expenses   70,000    — 
TOTAL LIABILITIES  $177,222   $2,107 
Shareholders’ equity          
Ordinary shares, par value $0.0002 per share, 500,000,000 shares authorized; 15,929,451 and 15,449,451 shares issued and outstanding as of September 30, 2024 and March 31, 2024, respectively   3,186    3,090 
Additional paid-in capital   19,492,001    19,055,297 
Statutory reserve   745,590    745,590 
Accumulated profits   453,320    3,389,754 
Accumulated other comprehensive loss   (1,500,150)   (1,695,174)
Total shareholders’ equity  $19,193,947   $21,498,557 
Summary of Condensed Statements of Income

Condensed statements of income (unaudited)

  

   2024   2023 
   For the six months ended September 30, 
   2024   2023 
Revenue  $—   $— 
Cost of revenue   —    — 
Gross profit   —    — 
Operating expenses:          
General and administrative expenses  $(849,946)  $(658,803)
Share of profit in subsidiaries and VIE   (2,086,395)   289,289 
Others, net   (93)   2,541 
(Loss)/Income before income tax provision   (2,936,434)   (366,973)
Provision for income tax   —    — 
Net (loss)/profit  $(2,936,434)  $(366,973)
Summary of Condensed Statements of Comprehensive Income

Condensed statements of comprehensive income (unaudited)

  

   2024   2023 
   For the six months ended September 30, 
   2024   2023 
Net loss  $(2,936,434)  $(366,973)
Other comprehensive loss   195,024    (981,042)
Total comprehensive loss  $(2,741,410)  $(1,348,015)
Summary of Condensed Cash Flow

Condensed cash flow

  

   2024   2023 
   For the six months ended September 30, 
   2024   2023 
Net cash used in operating activities  $(236,355)  $(713,851)
Net cash used in investing activities   —    — 
Net cash provided by financing activities   100,115    — 
Net cash outflow  $(136,240)  $(713,851)