Commitments and Contingencies	6 Months Ended
Sep. 30, 2024
Commitments and Contingencies [Abstract]
COMMITMENTS AND CONTINGENCIES	17. COMMITMENTS AND CONTINGENCIES Contingencies In measuring the credit risk of automobile purchasers, the Company primarily reflects the “probability of default” by the automobile purchasers on its contractual obligations and considers the current financial position of the automobile purchasers and its likely future development. The Company manages the credit risk of automobile purchasers by performing preliminary credit checks of each automobile purchaser and ongoing monitoring every month. By using the current credit loss model, management is of the opinion that the Company is bearing the credit risk to repay the principal and interests to the financial institutions if automobile purchasers’ default on their payments for more than three months. Management also periodically re-evaluates probability of default of automobile purchasers to make adjustments in the allowance, when necessary. Purchase commitments On September 23, 2022, the Company entered into a purchase contract with an automobile dealer to purchase a total of 100 automobiles for the amount of approximately $1.6 million. As of the filing date of these unaudited condensed consolidated financial statements, the Company has remitted approximately $0.7 million as purchase prepayments, and expects to fulfill the purchase commitment before March 31, 2025. Contingent liability of Jinkailong Despite that the Company holds 35% of equity interest of Jinkailong through Hunan Ruixi, and has not make any payments towards to the investment, the Company will be subjected to the maximum amount of RMB3.5 million (approximately $499,000) of which is equivalent to 35% of liabilities in case Jinkailong is liquidated in accordance with PRC’s company registry compliance.

Commitments and Contingencies

6 Months Ended

Sep. 30, 2024

Commitments and Contingencies [Abstract]

17. COMMITMENTS AND CONTINGENCIES

Contingencies

In measuring the credit risk of automobile purchasers, the Company primarily reflects the “probability of default” by the automobile purchasers on its contractual obligations and considers the current financial position of the automobile purchasers and its likely future development.

The Company manages the credit risk of automobile purchasers by performing preliminary credit checks of each automobile purchaser and ongoing monitoring every month. By using the current credit loss model, management is of the opinion that the Company is bearing the credit risk to repay the principal and interests to the financial institutions if automobile purchasers’ default on their payments for more than three months. Management also periodically re-evaluates probability of default of automobile purchasers to make adjustments in the allowance, when necessary.

Purchase commitments

On September 23, 2022, the Company entered into a purchase contract with an automobile dealer to purchase a total of 100 automobiles for the amount of approximately $1.6 million. As of the filing date of these unaudited condensed consolidated financial statements, the Company has remitted approximately $0.7 million as purchase prepayments, and expects to fulfill the purchase commitment before March 31, 2025.

Contingent liability of Jinkailong

Despite that the Company holds 35% of equity interest of Jinkailong through Hunan Ruixi, and has not make any payments towards to the investment, the Company will be subjected to the maximum amount of RMB3.5 million (approximately $499,000) of which is equivalent to 35% of liabilities in case Jinkailong is liquidated in accordance with PRC’s company registry compliance.