v3.25.2
Investments (Tables)
6 Months Ended
Mar. 31, 2025
Investments [Abstract]  
Schedule of Investments

As of September 30, 2024 and March 31, 2025, investments consisted of the following:

 

   As of
September 30,
2024
   As of
March 31,
2025
 
       (Unaudited) 
Short-term investments:        
Fixed deposit receipt  $1,557,104   $
-
 
Total short-term investments   1,557,104    
-
 
Long-term investments:          
Investments accounted for using the equity method (1)   11,510,894    11,038,160 
Investments without readily determinable FVs (2)   6,467,256    6,254,168 
Total long-term investments   17,978,150    17,292,328 
Impairment loss of long-term equity investments   (3,120,994)   (3,018,161)
Total long-term investments, net   14,857,156    14,274,167 
Total investments  $16,414,260   $14,274,167 

 

(1)In March 2023, the Company acquired 25% equity interest of Linyi Xing Caitong New Energy Partnership for $6,853,070 which was subsequently accounted for using the equity method. In September 2024, the Company paid $4,075,467 to acquire 40% equity interest of Shanghai Mingli New Energy Technology Co., Ltd..

 

(2)In September 2022, the Company acquired 6% equity interest of Chongqing Chenglu Technology Co., Ltd. (“Chongqing Chenglu”) for $3,479,252. In January 2024, the Company acquired 3.6554% equity interest of Yueneng Silicon Industry (Hangzhou) Partnership Enterprise (Limited Partnership) for $2,849,977. The Company invested in these investees as strategic investments to seize future market opportunities in the new energy industry. The Company has neither significant influence nor control over the investee and recognized investment as investment without readily determinable FV.
Schedule of Long Term Investment

The movement of the carrying amount of long-term investment was as follows for the six months ended March 31, 2024 and 2025:

 

   Six months ended
March 31,
 
   2024   2025 
   (Unaudited)   (Unaudited) 
Beginning balance  $10,674,801   $14,857,156 
Addition of investments without readily determinable FVs   2,775,311    
-
 
Proportionate share of the equity investee’s net loss   (45,906)   (93,799)
Foreign currency translation adjustment   106,663    (489,190)
Ending balance  $13,510,869   $14,274,167