XML 22 R11.htm IDEA: XBRL DOCUMENT v3.24.3
Accounts Receivable, Net
 6 Months Ended
Sep. 30, 2024
Accounts Receivable, Net [Abstract]  
ACCOUNTS RECEIVABLE, NET

5. ACCOUNTS RECEIVABLE, NET

 

Accounts receivable include online ride-hailing services fees due from online ride-hailing drivers and rental receivables due from operating lessees. It also includes a portion of bundled lease arrangements on fixed minimum monthly payments to be paid by the automobile purchasers arising from automobile sales and services fees, net of unearned interest income, discounted using the Company’s lease pricing interest rates.

 

As of September 30, 2024 and March 31, 2024, accounts receivable were comprised of the following:

 

   September 30,   March 31, 
   2024   2024 
   (Unaudited)     
Receivables of operating lease  $22,184   $18,531 
Receivables of automobile sales due from automobile purchasers   1,590    2,897 
Less: Allowance for credit losses   (1,590)   (1,545)
Accounts receivable, net  $22,184   $19,883 

 

Movement of allowance for credit losses for the six months ended September 30, 2024 and for year ended March 31, 2024 are as follows:

 

   September 30,   March 31, 
   2024   2024 
   (Unaudited)     
Beginning balance  $1,545   $— 
Addition   —    1,557 
Translation adjustment   45    (12)
Ending balance  $1,590   $1,545