v3.25.2
Consolidated Balance Sheets - USD ($)
Mar. 31, 2025
Mar. 31, 2024
CURRENT ASSETS:    
Cash $ 4,819,639 $ 2,475,538
Accounts receivable, net 107,305,580 105,359,841
Merchandise inventories, net 4,370,803 4,413,880
Compensation receivable for consumption tax, current, net 7,178,775 7,133,470
Prepaid expenses and other current assets, net 13,542,183 2,748,682
TOTAL CURRENT ASSETS 137,218,305 122,166,877
Property and equipment, net 10,763,020 9,013,827
Operating lease right-of-use assets 6,031,284 3,979,727
Compensation receivable for consumption tax, non-current, net 2,039,840 2,721,034
Long-term prepaid expenses and other non-current assets, net 1,777,736 4,115,694
TOTAL ASSETS 157,830,185 141,997,159
CURRENT LIABILITIES:    
Short-term borrowings 57,903,207 53,234,650
Current portion of long-term borrowings 706,531 1,730,796
Accounts payable 25,057,104 24,392,029
Deferred revenue 8,027,153 55,093
Taxes payable 349,671 9,357,482
Operating lease liabilities, current 2,068,399 1,523,222
Finance lease liabilities, current 138,180 170,553
Warrants liabilities 2,502,718 441,104
Other payables and other current liabilities 1,998,713 2,167,320
TOTAL CURRENT LIABILITIES 101,457,942 93,414,733
Operating lease liabilities, non-current 4,003,366 2,488,823
Finance lease liabilities, non-current 119,068 263,571
Long-term borrowings 6,501,772 5,636,960
Other non-current liabilities 1,470,135 1,934,927
Deferred tax liabilities, net 1,263,872 2,215,361
TOTAL LIABILITIES 114,816,155 105,954,375
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS’ EQUITY    
Ordinary shares, no par value,100,000,000 shares authorized; 42,327,806 shares and 42,220,206 shares issued and outstanding as of March 31, 2025 and 2024, respectively 81,150 16,716,839
Capital reserve 26,946,116 10,262,191
Retained earnings 27,695,268 21,056,780
Accumulated other comprehensive loss (11,708,504) (11,993,026)
TOTAL SHAREHOLDERS’ EQUITY 43,014,030 36,042,784
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 157,830,185 141,997,159
Related Party    
CURRENT ASSETS:    
Accounts receivable - related parties, net 117 25,704
Due from related parties 1,208 9,762
CURRENT LIABILITIES:    
Accounts payable - related parties 2,678,588 299,541
Due to related parties $ 27,678 $ 42,943