v3.25.2
Concentrations
 6 Months Ended
Mar. 31, 2025
Concentrations [Abstract]  
CONCENTRATIONS

18. CONCENTRATIONS

 

Concentrations of credit risk

 

As of September 30, 2024 and March 31, 2025 cash, cash equivalents and restricted cash balances in the PRC was $4,404,100 and $372,562 respectively, which were primarily deposited in financial institutions located in PRC, and each bank account is insured by the government authority with the maximum limit of RMB500,000 ($68,902). To limit exposure to credit risk relating to deposits, the Company primarily place cash and cash equivalent deposits with large financial institutions in PRC which management believes are of high credit quality and management also continually monitors the financial institutions’ credit worthiness.

 

Concentrations of customers

 

The following table sets forth information as to each customer that accounted for 10% or more of total accounts receivable as of September 30, 2024 and March 31, 2025.

 

   As of September 30, 2024   As of March 31, 2025 
Customer  Amount   % of
Total		   Amount   % of
Total		 
           (Unaudited) 
A  $2,850,542    37%  $2,677,706    40%
B   2,484,807    32%   1,421,155    21%
C   *    *    874,542    13%
D   948,763    12%   *    * 
Total  $6,284,112    81%  $4,973,403    74%

 

*The percentage is below 10%

 

The following table sets forth information as to each customer that accounted for 10% or more of total advances from customers as of September 30, 2024 and March 31, 2025.

 

    As of September 30, 2024     As of March 31, 2025  
Customer   Amount     % of
Total		     Amount     % of
Total		  
                (Unaudited)  
E   $
*
      
*
     $ 21,229       20 %
F    
*
      
*
       10,335       10 %
G     18,524       13 %    
*
      
*
  
H     15,946       11 %    
*
      
*
  
Total   $ 34,470       24 %   $ 31,564       30 %

 

*The percentage is below 10%

The following table sets forth information as to each customer that accounted for 10% or more of total revenues for the six months ended March 31, 2024 and 2025.

 

   Six months ended March 31, 
   2024   2025 
Customer  Amount   % of
Total		   Amount   % of
Total		 
   (Unaudited)   (Unaudited) 
B  $3,118,446    46%  $1,714,509    26%
A   1,811,277    27%   1,712,237    26%
C   
*
    
*
    1,485,858    23%
I   
*
    
*
    880,424    13%
J   931,801    14%   
*
    
*
 
Total  $5,861,524    87%  $5,793,028    88%

 

*The percentage is below 10%

 

Concentrations of suppliers

 

The following table sets forth information as to each supplier that accounted for 10% or more of total accounts payable as of September 30, 2024 and March 31, 2025.

 

   As of September 30, 2024   As of March 31, 2025 
Supplier  Amount   % of
Total		   Amount   % of
Total		 
           (Unaudited) 
A  $48,903    26%  $47,291    29%
B   33,275    17%   32,467    20%
C   
*
    
*
%   20,200    13%
D   44,630    23%   
*
    
*
 
Total  $126,808    66%  $99,958    62%

 

*The percentage is below 10%

The following table sets forth information as to each third party that accounted for 10% or more of total advances to suppliers as of September 30, 2024 and March 31, 2025.

 

   As of September 30, 2024   As of March 31, 2025 
Supplier  Amount   % of
Total		   Amount   % of
Total		 
           (Unaudited) 
E  $5,479,056    32%  $5,208,955    48%
F   3,938,938    23%   1,802,497    16%
G   1,644,050    10%   1,180,602    11%
H   4,209,185    25%   1,122,012    10%
Total  $15,271,229    90%  $9,314,066    85%

 

*The percentage is below 10%

 

The following table sets forth information as to each supplier that accounted for 10% or more of total purchases for the six months ended March 31, 2024 and 2025.

 

   Six months ended March 31, 
   2024   2025 
Supplier  Amount   % of
Total		   Amount   % of
Total		 
   (Unaudited)   (Unaudited) 
H  $1,594,471    17%  $2,925,067    29%
F   2,121,255    23%   2,815,761    27%
I   
*
    
*
    1,584,037    15%
G   
*
    
*
    1,358,763    13%
E   2,947,545    31%   
*
    
*
 
J   1,507,114    16%   
*
    
*
 
Total  $8,170,385    87%  $8,683,628    84%

 

*The percentage is below 10%