v3.25.2
Borrowings - Schedule of Borrowings and Capital Expenditures (Details) - USD ($)
Mar. 31, 2025
Sep. 30, 2024
Schedule of Borrowings and Capital Expenditures [Line Items]    
Total short-term borrowings $ 3,582,896 $ 5,186,958
Total long-term borrowings, current 1,413,866 634,120
Total long-term borrowings, non-current 6,414,762 7,461,240
Total borrowings $ 11,411,524 13,282,318
Bank of Jiangsu [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Short-Term Interest Rate [1] 5.80%  
Short-Term Borrowing Date [1] Jan. 25, 2024  
Short-Term Maturity Date [1] Jan. 25, 2025  
Total short-term borrowings [1] 113,999
Bank of Jiangsu Two [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Short-Term Interest Rate [2] 3.30%  
Short-Term Borrowing Date [2] Aug. 30, 2024  
Short-Term Maturity Date [2] Aug. 27, 2025  
Total short-term borrowings [2] $ 964,626 997,492
Bank of Jiangsu Three [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Short-Term Interest Rate [3] 3.80%  
Short-Term Borrowing Date [3] Dec. 19, 2023  
Short-Term Maturity Date [3] Dec. 15, 2024  
Total short-term borrowings [3] 569,995
Bank of Jiangsu Four [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Short-Term Interest Rate 3.30%  
Short-Term Borrowing Date Dec. 15, 2024  
Short-Term Maturity Date Sep. 03, 2025  
Total short-term borrowings $ 551,215  
Bank of Nanjing [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Short-Term Interest Rate [4] 3.50%  
Short-Term Borrowing Date [4] Sep. 11, 2024  
Short-Term Maturity Date [4] Sep. 09, 2025  
Total short-term borrowings [4] $ 689,018 712,494
Agricultural Bank of China [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Short-Term Interest Rate [5] 3.20%  
Short-Term Borrowing Date [5] Jun. 26, 2024  
Short-Term Maturity Date [5] Jun. 16, 2025  
Total short-term borrowings [5] $ 1,378,037 1,424,989
Agricultural Bank of China [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Short-Term Interest Rate [6] 3.05%  
Short-Term Borrowing Date [6] Dec. 29, 2023  
Short-Term Maturity Date [6] Dec. 21, 2024  
Total short-term borrowings [6] 1,367,989
Bank of Jiangnan [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Long-term borrowings current Interest Rate [7] 4.80%  
Long-term borrowings current Borrowing Date [7] Jun. 25, 2022  
Long-term borrowings current Maturity Date [7] Jun. 30, 2025  
Total long-term borrowings, current [7] $ 1,413,866 634,120
Bank of Jiangnan [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Long-term borrowings non-current Interest Rate [7] 4.80%  
Long-term borrowings non-current Borrowing Date [7] Jun. 25, 2022  
Long-term borrowings non-current Maturity Date [7] Jun. 21, 2030  
Total long-term borrowings, non-current [7] $ 2,995,853 3,925,844
Bank of Jiangnan [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Long-term borrowings non-current Interest Rate [7] 4.80%  
Long-term borrowings non-current Borrowing Date [7] Nov. 15, 2023  
Long-term borrowings non-current Maturity Date [7] Jun. 21, 2030  
Total long-term borrowings, non-current [7] $ 1,763,887 1,823,985
Bank of Jiangnan [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Long-term borrowings non-current Interest Rate [7] 4.80%  
Long-term borrowings non-current Borrowing Date [7] Jul. 18, 2024  
Long-term borrowings non-current Maturity Date [7] Jun. 21, 2030  
Total long-term borrowings, non-current [7] $ 952,223 984,667
Bank of Jiangnan [Member]    
Schedule of Borrowings and Capital Expenditures [Line Items]    
Long-term borrowings non-current Interest Rate [7] 4.80%  
Long-term borrowings non-current Borrowing Date [7] Feb. 06, 2024  
Long-term borrowings non-current Maturity Date [7] Jun. 21, 2030  
Total long-term borrowings, non-current [7] $ 702,799 $ 726,744
[1] On December 14, 2022, Changzhou EZGO obtained a revolving line of credit of RMB800,000 ($109,649) from Bank of Jiangsu with three years term from December 14, 2022 to December 14, 2025. On January 25, 2024, Changzhou EZGO withdrew RMB800,000 ($113,999) from this line of credit, with an effective annual interest rate of 5.80% and a term of 12 months, which was fully repaid as matured.
[2] On August 30, 2024, Changzhou EZGO obtained a non-revolving loan of RMB7,000,000 ($997,492) from Bank of Jiangsu, with an effective annual interest rate of 3.30% and a term of 12 months, which was guaranteed by Jiangsu Jiangnan Technology Financing Guarantee Co., Ltd.
[3] On December 19, 2023, Changzhou Higgs obtained a non-revolving loan of RMB4,000,000 ($569,995) from Bank of Jiangsu, with an effective annual interest rate of 3.80% and a term of 12 months, which was guaranteed by Feng Xiao, the legal representative of Changzhou Higgs. On December 9, 2024, this loan was granted a term extension, with the annual interest rate maintained at 3.30% and the maturity date set to September 3, 2025.
[4] On September 11, 2024, Changzhou EZGO entered a non-revolving loan facility of RMB5,000,000 ($712,494) with Bank of Nanjing, with an effective annual interest rate of 3.50% and a term of 12 months, which was guaranteed by Jianhui Ye, the Chief Executive Officer of the Company, Jiangsu New Energy and Jiangsu Jiangnan Technology Financing Guarantee Co., Ltd.
[5] On June 26, 2024, Changzhou EZGO obtained a non-revolving loan of RMB10,000,000 ($1,424,989) from Agricultural Bank of China, with an effective annual interest rate of 3.20% and a term of 12 months, which was guaranteed by Jianhui Ye. The loan was fully repaid in advance on April 23, 2025.
[6] On December 29, 2023, Jiangsu Supply Chain obtained a non-revolving loan of RMB9,600,000 ($1,367,989) from Agricultural Bank of China, with an effective annual interest rate of 3.05% and a term of 12 months. The loan was secured by the $1,500,000 certificate of deposit held by EZGO HK, which was fully repaid by the Company upon maturity.
[7] On June 25, 2023, Jiangsu New Energy obtained a 7-year loan facility of up to RMB56,810,000 ($8,095,360) from Bank of Jiangnan with an effective annual interest rate of 4.80%, specified for expenditures on the construction of Changzhou manufacturing plant built for the production of two-wheeler e-bicycles, intelligent unmanned patrol vehicles and graphene batteries, which will mature on June 21, 2030. As of September 30, 2024 and March 31, 2025, Jiangsu New Energy withdrew a total of RMB56,810,000 ($8,095,360) from this loan facility, respectively. The loan facility was guaranteed by Shuang Wu, Chief Operating Officer of the Company , and also pledged by the land use right of Jiangsu New Energy. The following is the principal repayment schedule for the long-term loan from Bank of Jiangnan as of March 31, 2025: