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Discontinued Operations (Tables)
 12 Months Ended
Mar. 31, 2025
Discontinued Operations [Abstract]  
Schedule of Discontinued Operations

The following table summarizes the financial results from discontinued operations of Jiuxin Investment:

 

   For the eleven months ended
February 28, 2025		   For the year ended
March 31, 2024		   For the year ended
March 31, 2023		 
REVENUES, NET  $93,447,763   $107,536,353   $115,736,856 
                
COST OF GOODS SOLD   69,024,370    81,306,222    85,057,834 
                
GROSS PROFIT   24,423,393    26,230,131    30,679,022 
                
SELLING EXPENSES   25,303,379    26,451,364    27,911,138 
GENERAL AND ADMINISTRATIVE EXPENSES   2,970,154    3,909,412    10,530,943 
TOTAL OPERATING EXPENSES   28,273,533    30,360,776    38,442,081 
                
LOSS FROM DISCONTINUED OPERATIONS   (3,850,140)   (4,130,645)   (7,763,059)
                
OTHER INCOME (EXPENSES):               
INTEREST INCOME   421,839    318,874    852,326 
INTEREST EXPENSE   (6,291)   (13,604)   (65,854)
INVESTMENT LOSS   
-
    -    85,382 
OTHER INCOME (EXPENSES)   (561,791)   481,064    1,587,729 
                
LOSS FROM DISCONTINUED OPERATIONS BEFORE INCOME TAXES   (3,996,383)   (3,344,311)   (5,303,476)
                
PROVISION FOR INCOME TAXES   107,335    104,225    
-
 
                
NET LOSS FROM DISCONTINUED OPERATIONS   (4,103,718)   (3,448,536)   (5,303,476)
LESS: NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO NONCONTROLLING INTEREST   5,384    (14)   (252)
NET LOSS FROM DISCONTINUED OPERATIONS ATTRIBUTABLE TO JIUXIN INVESTMENT   (4,109,102)   (3,448,522)   (5,303,224)

The following table summarizes the assets and liabilities from discontinued operations of Jiuxin Investment:

 

   As of February 28, 
   2025 
Cash and cash equivalents  $12,942,759 
Restricted cash   9,410,491 
Trade accounts receivables   7,627,735 
Inventories   7,886,336 
Other receivables, net   12,272,723 
Advances to suppliers   587,731 
Due from related parties   
-
 
Other current assets   1,565,261 
Total current assets of discontinued operations   52,293,036 
Property and equipment, net   4,430,211 
Long-term investment   1,184,984 
Farmland assets   628,710 
Long-term deposits   1,087,447 
Intangible assets, net   1,684,251 
Operating lease right-of-use assets   8,876,245 
Other noncurrent assets   661,329 
Total non-current assets of discontinued operations   18,553,177 
Accounts payable  $22,018,532 
Notes payable   20,955,354 
Other payables   28,734,698 
Due to related parties   342,196 
Customer deposits   89,324 
Taxes payable   392,801 
Accrued liabilities   187,423 
Current portion of operating lease liabilities   2,704,581 
Total current liabilities of discontinued operations   75,424,909 
Long-term operating lease liabilities   3,871,823 
Total non-current liabilities of discontinued operations   3,871,823 

 

The following table summarizes gain of divestiture of Jiuxin Investment:

 

Total considerations for divestiture of Jiuxin Investment  $4,102,848 
Less: Net asset of Jiuxin Investment   (8,450,519)
Add: Noncontrolling interests   (1,341,489)
Add: Additional paid-in capital   796,422 
Add: Statutory reserve   1,309,109 
Add: Accumulated other comprehensive income   2,440,344 
Gain on divestiture of Jiuxin Investment  $15,757,753 

The following table summarizes cash flows related to discontinued operations for the period from March 31, 2024 through February 28, 2025：

 

   Period from March 31, 2024 through February 28, 2025 
Operating activities of discontinued operations   (97,503)
Investing activities of discontinued operations   (615,267)
Financing activities of discontinued operations   (5,334,555)