XML 51 R35.htm IDEA: XBRL DOCUMENT v3.24.2
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Mar. 31, 2024
Summary of Significant Accounting Policies [Abstract]  
Schedule of Revenue by Major Source in each Segment The following table disaggregates the Company’s revenue by major source in each segment for the years ended March 31, 2024, 2023 and 2022:
   2024   2023   2022 
For the year ended March 31,            
Retail drugstores            
Prescription drugs  $25,269,177   $27,212,994   $28,503,283 
OTC drugs   31,542,597    32,358,339    35,658,864 
Nutritional supplements   9,890,985    8,737,519    9,664,071 
TCM   3,405,979    9,719,653    5,353,900 
Sundry products   1,129,647    1,082,168    1,544,639 
Medical devices   4,440,085    4,241,095    3,503,735 
Total retail revenue  $75,678,470   $83,351,768   $84,228,492 
Online pharmacy               
Prescription drugs  $9,151,412   $10,606,244   $10,331,652 
OTC drugs   12,969,313    13,870,953    11,473,177 
Nutritional supplements   4,284,556    2,740,253    2,014,011 
TCM   571,769    434,920    315,231 
Sundry products   1,448,537    1,129,701    2,271,009 
Medical devices   3,432,296    3,603,018    3,814,284 
Total online revenue  $31,857,883   $32,385,089   $30,219,364 
Drug wholesale               
Prescription drugs  $30,784,949   $21,617,636   $41,116,991 
OTC drugs   11,323,730    10,289,987    7,903,824 
Nutritional supplements   741,883    310,909    424,210 
TCM   388,396    458,502    241,828 
Sundry products   692,101    64,422    93,338 
Medical devices   3,073,665    333,663    164,508 
Total wholesale revenue  $47,004,724   $33,075,119   $49,944,699 
Total revenue  $154,541,077   $148,811,976   $164,392,555 

 

Schedule of Reconciliation of Cash Equivalents and Restricted Cash The following represents a reconciliation of cash and cash equivalents in the consolidated balance sheets to total cash, cash equivalents and restricted cash in the consolidated statements of cash flows as of March 31, 2024 and 2023:
   March 31,
2024
   March 31,
2023
 
Cash and cash equivalents  $20,149,806   $18,807,936 
Restricted cash   12,724,365    12,762,708 
Cash, cash equivalents and restricted cash  $32,874,171   $31,570,644 
Schedule of Estimates Future Expected Losses on Accounts Receivable and Other Receivables The roll forward for the allowance for credit losses for the year end March 31, 2024, is as follows:
   For the year end March 31, 2024 
   Account
receivable
   Other
receivables
   Total 
Allowance for credit losses as of March 31, 2023  $2,313,306    5,329,440   $7,642,746 
Credit loss reversal   (1,389,640)   (2,446,772)   (3,836,412)
Ending allowance for credit losses  $923,666    2,882,668   $3,806,334 

 

Schedule of Estimated Useful Lives of Property And Equipment Leasehold improvements are amortized over the shorter of lease term or remaining lease period of the underlying assets. Following are the estimated useful lives of the Company’s property and equipment:
   Estimated
Useful Life
Leasehold improvements  3-10 years
Motor vehicles  3-5 years
Office equipment & furniture  3-5 years
Buildings  35 years
Schedule of Estimated Useful Lives of Intangible Assets The estimated useful lives of the Company’s intangible assets are as follows:
   Estimated
Useful Life
Land use rights  50 years
Software  3 years
license  Infinite