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RISKS AND UNCERTAINTIES | 6 Months Ended
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Sep. 30, 2025
Risks and Uncertainties [Abstract] |
RISKS AND UNCERTAINTIES | 18. RISKS AND UNCERTAINTIES
(a) | Economic and Political Risks
The Company’s operations are conducted in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC economy. The Company’s operations in the PRC 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’s results may be adversely affected by changes in the political and social conditions in the PRC, 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.
(b) | Foreign Currency Translation
The Company’s reporting currency is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company’s operating subsidiaries is the Chinese Renminbi (“RMB”). For the subsidiaries whose functional currencies are the RMB, all assets and liabilities are translated at exchange rates at the balance sheet date, which was 7.12 and 7.26 as of September 30, 2025 and March 31, 2025, respectively. Revenue and expenses are translated at the average yearly exchange rates, which was 7.231 and 7.004, 7.194 and 7.20 for the three and six months ended September 30, 2025 and 2024, respectively. Equity is translated at historical exchange rates. Any translation adjustments resulting are not included in determining net income but are included in foreign exchange adjustments to other comprehensive loss, a component of equity.
(c) | Concentration Risks
The followings are the percentages of accounts receivable balance of the top customers over accounts receivable for each segment as of September 30, 2025 and March 31, 2025. Garment manufacturing segment SCHEDULE OF CONCENTRATION RISKS
|  | September 30, 2025 |  |  | March 31, 2025 |
Customer A |  |  | 100.0 | % |  |  | 100.0 | %
The high concentration as of September 30, 2025 was mainly due to business development of a large distributor of garments. Logistics services segment
|  | September 30, 2025 |  |  | March 31, 2025 |
Customer A |  |  | 23.4 | % |  |  | 20.2 | %
Customer B |  |  | 23.1 | % |  |  | 17.6 | %
Customer C |  |  | 6.6 | % |  |  | 3.4 | %
Customer D |  |  | 6.0 | % |  |  | 5.4 | %
Customer E |  |  | 5.9 | % |  |  | 5.9 | %
Property management and subleasing segment There was no account receivable for the property management and subleasing segment as of September 30, 2025 and March 31, 2025. Concentration on customers For the three months ended September 30, 2025, three customers from the logistics services segment provided more than 10% of total revenue of the Company, representing 63.5% of total revenue of the Company for that period. For the six months ended September 30, 2025, three customers from the logistics services segment provided more than 10% of total revenue of the Company, representing 53.8% of total revenue of the Company for that period . For the three months ended September 30, 2024, three customers from the logistics services segment provided more than 10% of total revenue of the Company, representing 48.6% of total revenue of the Company for that period. For the six months ended September 30, 2024, two customers from logistics services segment provided more than 10% of total revenue of the Company, representing 36.5% of total revenue of the Company for that period. Concentration on suppliers The following tables summarize the purchases from five largest suppliers of each of the reportable segments for the three and six months ended September 30, 2025 and 2024. SCHEDULE OF PURCHASES FROM SUPPLIERS
|  | Three months ended |  |  | Six months ended |
|  | September 30, |  |  | September 30, |
|  | 2025 |  |  | 2024 |  |  | 2025 |  |  | 2024 |
Garment manufacturing segment |  |  | Nil | % |  |  | 60.6 | % |  |  | 100 | % |  |  | 41.8 | %
Logistics services segment |  |  | 100 | % |  |  | 100 | % |  |  | 100 | % |  |  | 100 | %
(d) | Interest Rate Risk
The Company’s exposure to interest rate risk primarily relates to the interest expenses on our outstanding bank borrowings and the interest income generated by cash invested in cash deposits and liquid investments. As of September 30, 2025, the total outstanding borrowings amounted to $643,194 (RMB4,579,969) with various interest rate from 4.34% to 16.2% p.a. (Note 12)

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- Definition The entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (d)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (d)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (c)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (c)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 3A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482836/275-10-55-3A Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2A -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-2A Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 275 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-1 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/275/tableOfContent + Details
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