4. Related Party Transaction
Related Parties
| Name of related parties | | Relationship with the Company | | Huihe Zheng | | Principal shareholder, Chief Executive Officer and Chairman of the Company |
Related Party Transactions
| | (i) | During the year ended March 31, 2025, Huihe Zheng advanced $129,056 (2024: $244,313) to the Company to support its operations. | | | | | | | (ii) | During the year ended March 31, 2025, the Company repaid $812,277 (2024: nil) to Huihe Zheng. | | | | | | | (iii) | On October 9, 2024, the Company issued 6,000,000 Series B Shares to Huihe Zheng at a purchase price of $0.10 per share, in exchange for the cancellation by Mr. Zheng of a portion of the currently outstanding principal amount of the debt owed by the Company to Mr. Zheng, in the amount of $600,000, which was loaned by Mr. Zheng to the Company providing for its working capital and general corporate expenses. |
Due to Related Party Balance
The Company’s due to related party balance
is as follows:
| | |
March 31,
2025 | | |
March 31,
2024 | |
| | |
US$ | | |
US$ | |
| Huihe Zheng | |
| — | | |
| 1,283,221 | |
| Total | |
| — | | |
| 1,283,221 | |
The due to related party balance is unsecured,
interest-free and due on demand.
|