DESCRIPTION OF BUSINESS AND ORGANIZATION

12 Months Ended

Mar. 31, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

DESCRIPTION OF BUSINESS AND ORGANIZATION

NOTE –1 DESCRIPTION OF BUSINESS AND ORGANIZATION

OneSolution Technology Inc. (the “Company”) was incorporated in the State of Delaware on September 8, 1995 under the name of ARXA International Energy, Inc. On June 4, 2001, the Company changed its name to King Resources, Inc. Effective December 27, 2023, the Company changed its name to OneSolution Technology Inc., its current name. Currently, the Company through its subsidiaries, is engaged primarily in the rendering of smart power supply solutions and the related technical service as well as lifestyle products in Hong Kong.

On December 15, 2021, the Company consummated the Share Exchange Transaction (the “Share Exchange”) among Powertech Management Limited (“PML”) and its shareholders. The Company acquired all of the issued and outstanding shares of PML from PML’s shareholders, in exchange for 2,835,820,896 shares of the issued and outstanding common stock. On January 25, 2022, the Company issued the shares to PML’s shareholders and completed the Share Exchange Transaction, PML became a 100% owned subsidiary of the Company.

Prior to the Share Exchange, the Company was considered as a shell company due to its nominal assets and limited operation. The transaction was treated as a recapitalization of the Company.

Upon the Share Exchange between the Company and PML on December 15, 2021, the transaction is considered as a merger of entities under common control that Mr. FU Wah is the common director and shareholder of both the Company and PML. Under the guidance in ASC 805 for transactions between entities under common control, the assets, liabilities and results of operations, are recognized at their carrying amounts on the date of the Share Exchange, which required retrospective combination of the Company and PML for all periods presented.

On August 25, 2022, the Company formed OneSolution Holdings Limited and OneSolution Management Limited, respectively.

On September 2, 2022, the Company formed OneSolution Innotech Limited.

On September 30, 2024, the Company conducted the corporate restructuring by disposing of all equity interests in Powertech Management Limited and Powertech Corporation Limited, and the disposal of these subsidiaries resulted from a net gain of $2,513,875.

On November 21, 2024, the Company acquired Heavenly Grace Limited from a related party at its net carrying value of approximately $7,000, which did not operate any businesses in prior years.

Description of subsidiaries

Schedule of description of subsidiaries
Name		Place of incorporation and kind of legal entity		Principal activities and place of operation		Particulars of registered/paid-up capital		Effective interest held

Powertech Management Limited ^#		British Virgin Islands		Investment holding		50,000 ordinary shares at par value of $1		100%

Powertech Corporation Limited ^#		Hong Kong		Provision of information technology services		10,000 ordinary shares for HK$10,000		100%

OneSolution Holdings Limited		British Virgin Islands		Investment holding		50,000 ordinary shares at par value of $1		100%

OneSolution Management Limited		British Virgin Islands		Investment holding		50,000 ordinary shares at par value of $1		100%

OneSolution Innotech Limited		Hong Kong		Product development and trading		10,000 ordinary shares for HK$10,000		100%

Heavenly Grace Limited*		Hong Kong		Product development and trading		10,000 ordinary shares for HK$10,000		100%

#	these subsidiaries were disposed under the corporate restructuring exercise during the year ended March 31, 2025.

*	this subsidiary was acquired under the corporate restructuring exercise during the year ended March 31, 2025.

The Company and its subsidiaries are hereinafter referred to as the “Company”.