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RELATED PARTY TRANSACTIONS
 3 Months Ended
Jun. 30, 2025
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

5. RELATED PARTY TRANSACTIONS

 

Name of Related Parties   Relationship with the Company
Zhida Hong   President, CEO, and a director of the Company
Hongye Financial Consulting (Shenzhen) Co., Ltd.   A company controlled by CEO, Mr. Zhida Hong
Bihua Yang   A legal representative of Shenzhen Xin Kuai Jie Transportation (“XKJ”)
Jinlong Huang   Management of Dongguan Heng Sheng Wei Garments Co., Ltd (“HSW”)

 

The Company leases XKJ’s office rent-free from Bihua Yang.

 

Hongye Financial Consulting (Shenzhen) Co., Ltd. provided a guarantee to the consideration receivable for the transfer of a debt security to a third party.

 

The Company had the following related party balances as of June 30, 2025 and March 31, 2025:

 

 

Amount due from related party  June 30, 2025   March 31, 2025 
Zhida Hong (1)  $3,545,376   $2,856,262 
Bihua Yang (2)   1,548,939    1,426,867 
Amount due from related party  $5,094,315   $4,283,129 

 

Related party borrowings  June 30, 2025   March 31, 2025 
Hongye Financial Consulting (Shenzhen) Co., Ltd.   46,628    39,174 
Jinlong Huang   111,208    122,420 
Amount due to related party  $157,837   $161,594 

 

  (1) The increase of related party from Zhida Hong was short term loan to Zhida Hong, which is interest-free and would be repaid in one year.
     
  (2) The increase of related party debt from Bihua Yang was mainly due to the cash paid in advance to Bihua Yang. During the quarter ended June 30, 2025, the Company provided a short term loan of approximately $0.23 million to Bihua Yang and received repayment of approximately $0.13 million from him.

 

The borrowing balances with related parties are unsecured, non-interest bearing and repayable on demand.