XML 66 R51.htm IDEA: XBRL DOCUMENT v3.25.2
Discontinued Operations - Schedule of Discontinued Operations (Details) - Discontinued Operations, Disposed of by Sale [Member] - Jiuxin Investment [Member] - USD ($)
11 Months Ended 12 Months Ended
Feb. 28, 2025
Mar. 31, 2024
Mar. 31, 2023
Schedule of Discontinued Operations [Line Items]      
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)
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    
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    
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    
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    
Operating activities of discontinued operations (97,503)    
Investing activities of discontinued operations (615,267)    
Financing activities of discontinued operations (5,334,555)    
Related Party [Member]      
OTHER INCOME (EXPENSES):      
Due from related parties    
Due to related parties $ 342,196