v3.25.2
Income Taxes (Tables)
12 Months Ended
Mar. 31, 2025
Income Taxes [Abstract]  
Schedule of Provision for Income Taxes

The provision for income taxes consists of the following:

 

Year ended March 31,

   

2023

 

2024

 

2025

Current tax

 

 

 

 

 

 

 

 

 

 

 

 

– PRC

 

$

164

 

 

$

143

 

 

$

6

 

– Macau

 

 

246

 

 

 

126

 

 

 

176

 

Deferred tax

 

 

(155

)

 

 

(159

)

 

 

(20

)

   

$

255

 

 

$

110

 

 

$

162

 

Schedule of Statutory Tax Rate

Reconciliation between the provision for income taxes computed by applying the statutory tax rate in the PRC to income before income taxes and the actual provision for income taxes is as follows:

 

Year ended March 31,

   

2023

 

2024

 

2025

Provision for income taxes at statutory tax rate in the PRC

 

$

578

 

 

$

1,955

 

 

$

2,824

 

Tax rate differential on entities not subject to PRC
income tax

 

 

520

 

 

 

(547

)

 

 

(1,642

)

Additional deduction of research and development
expenses

 

 

(476

)

 

 

(273

)

 

 

(218

)

Foreign rate differences, net

 

 

724

 

 

 

175

 

 

 

125

 

Other non-taxable income

 

 

(786

)

 

 

(1,194

)

 

 

(1,040

)

Unrecognized tax benefits

 

 

(426

)

 

 

119

 

 

 

(72

)

Other non-deductible expenses

 

 

32

 

 

 

24

 

 

 

161

 

Net change in valuation allowances

 

 

90

 

 

 

(49

)

 

 

19

 

Prior year true up

 

 

(1

)

 

 

(100

)

 

 

5

 

Effective tax

 

$

255

 

 

$

110

 

 

$

162

 

Schedule of Net Deferred Income Tax

The net deferred income tax consists of the following:

 

March 31,

   

2024

 

2025

Deferred income tax assets

 

$

419

 

 

$

335

 

Deferred income tax liabilities

 

 

(476

)

 

 

(371

)

Net deferred income tax liabilities

 

$

(57

)

 

$

(36

)

Schedule of Components of Net Deferred Income Tax

The components of net deferred income tax are as follows:

 

March 31,

   

2024

 

2025

Deferred income tax assets (liabilities):

 

 

 

 

 

 

 

 

Net operating loss carry forwards

 

$

81

 

 

$

99

 

Provision of employee benefits

 

 

1,271

 

 

 

1,413

 

Depreciation and amortization

 

 

(1,182

)

 

 

(1,100

)

Revenue and cost of sales recognized for financial reporting purpose before being recognized for tax purpose

 

 

(107

)

 

 

(291

)

Others

 

 

(39

)

 

 

(58

)

Less: Valuation allowances

 

 

(81

)

 

 

(99

)

Net deferred income tax liabilities

 

$

(57

)

 

$

(36

)

Schedule of Unrecognized Tax Benefits

A reconciliation of the beginning and ending amount of total unrecognized tax benefits is as follows:

 

Year ended March 31,

   

2023

 

2024

 

2025

Balance at the beginning of the year

 

$

1,232

 

 

$

806

 

$

925

 

(Decrease) increase related to current year tax positions

 

 

(426

)

 

 

119

 

 

(79

)

Balance at end of the year

 

$

806

 

 

$

925

 

$

846