| INVENTORIES, NET |
6.
INVENTORIES, NET
As
of September 30, 2024 and March 31, 2025, inventories and reserve of inventories consisted of the following:
| | |
As of
September 30,
2024 | | |
As of
March 31,
2025 | |
| | |
| | |
(Unaudited) | |
| Finished goods (1) | |
$ | 217,248 | | |
$ | 4,404,291 | |
| Work in progress (2) | |
| 31,492 | | |
| 30,455 | |
| Raw materials (3) | |
| 316,887 | | |
| 410,445 | |
| Subtotal | |
| 565,627 | | |
| 4,845,191 | |
| Less: provision for inventories | |
| (42,687 | ) | |
| (50,352 | ) |
| Inventories, net | |
$ | 522,940 | | |
$ | 4,794,839 | |
| (1) | Finished
goods included battery packs and electronic control systems. |
| (2) | Work
in progress included work in progress of electronic control systems. |
| (3) | Raw
materials included components and parts for manufacturing electronic control systems and the provision of maintenance service. |
The
movement of provision for inventories was as follows for the six months ended March 31, 2024 and 2025:
| | |
Six months ended
March 31, | |
| | |
2024 | | |
2025 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Balance at beginning of period | |
$ | 88,818 | | |
$ | 42,687 | |
| Current period addition | |
| 99,138 | | |
| 30,507 | |
| Charge off | |
| (56,917 | ) | |
| (21,405 | ) |
| Foreign currency translation adjustment | |
| 851 | | |
| (1,437 | ) |
| Balance at the end of period | |
$ | 131,890 | | |
$ | 50,352 | |
For
the six months ended March 31, 2024 and 2025, provisions for inventories of $99,138 and $30,507 were recorded respectively. $56,917 and
$21,405 were charged against the provision balance due to subsequent sales of the inventories which were written down in the previous
period for the six months ended March 31, 2024 and 2025, respectively.
|