Equity

12 Months Ended

Mar. 31, 2025

Equity [Abstract]

Equity

10. Equity

a.

Share capital and additional paid-in capital

The addition of share capital and additional paid-in capital represented:

	(i)	The issuance of 1,125,000 ordinary shares in private placement on June 12, 2023;

	(ii)	The issuance of 1,125,000 ordinary shares in private placement on December 1, 2023;

	(iii)	The issuance of 600,000 ordinary shares in private placement on January 5, 2024;

	(iv)	The issuance of 600,000 ordinary shares in private placement on January 9, 2024;

	(v)	The issuance of 800,000 ordinary shares in private placement on January 11, 2024;

	(vi)	The issuance of 300,000 ordinary shares in private placement on February 29, 2024;

	(vii)	The issuance of 1,650,000 ordinary shares under share incentive plans; and

	(viii)	The issuance of 1,125,000 ordinary shares in private placement on May 24, 2024;

	(ix)	The issuance of 1,125,000 ordinary shares in private placement on December 9, 2024;

b.

Warrants reserves

Warrants are issued to management team and consultants on trading of digital asset as an incentive to boost overall performance of the company.

A continuity schedule of outstanding share purchase warrants and fair value charged to profit or loss are as follows:

		Number of warrants outstanding

Balance – April 1, 2023			32,600,000
Issued			300,000
Balance – March 31, 2024, April 1, 2024			32,900,000
Early termination			(14,000,000	)
Balance – March 31, 2024, April 1, 2024 and March 31, 2025			18,900,000

On December 23, 2023, the Company issued 300,000 share purchase warrants to Hermitage Management Limited and they are exercisable at US$1.00 per share, for a period of five years.

On September 26, 2024, the Company entered into a deed of termination with Natural Selection Capital Holding Limited which wholly owned by Mr. Bingzhong Wang, the director of the Company.

The fair value of the warrants was calculated at the respective grant date. The fair value of the warrants granted during the year ended March 31,2024 was US$411,403.

The Company’s share purchase warrants are valued by independent professional qualified valuer by using binomial option pricing models. The inputs into the model were as follows:

		As of March 31, 2025				As of March 31, 2024				As of March 31, 2023

Risk-free interest rate			3.8	%			3.80	%		2.66%-3.80%
Expected life of warrants			3 years				4 years			4-9 years
Volatility			81.89	%			81.89	%		101.58%-121.32%
Weighted average fair value per warrant (US$)			1.37				1.37			0.12-0.48
Risk-free interest rate			3.8	%			3.8	%		2.66%-3.80%

As of March 31, 2025 and 2024, the Company had share purchase warrants outstanding as follows:

		Warrants outstanding as of March 31, 2024				Termination				Warrants outstanding as of March 31, 2025				Fair value at issue date				Fair value charged for current year				Exercise price			Weighted average remaining life
Expiry Date														US$				US$				US$			(years)
October 29, 2031			3,500,000				(3,500,000	)			—				4,515,601				—			1				—
October 29, 2031			3,500,000				(3,500,000	)			—				4,229,191				—			1.5				—
October 29, 2031			7,000,000				(7,000,000	)			—				7,500,124				1,323,807			2.5				—
October 27, 2026			1,800,000				—				1,800,000				1,353,304				—			1.5				2
October 29, 2026			2,000,000				—				2,000,000				1,417,766				—			1.5				2
May 10, 2027			200,000				—				200,000				84,000				—			1.5				3
May 26, 2027			500,000				—				500,000				238,000				—			1.5				3
July 22, 2027			440,000				—				440,000				163,000				7,555			1				3
July 25, 2027			3,780,000				—				3,780,000				1,405,000				65,398			1				3
July 26, 2027			400,000				—				400,000				146,000				6,806			1				3
July 27, 2027			1,000,000				—				1,000,000				379,000				17,691			1				3
July 28, 2027			980,000				—				980,000				376,000				17,575			1				3
November 28, 2027			1,125,000				—				1,125,000				264,000				—			1				3
November 28, 2027			1,125,000				—				1,125,000				274,000				—			1				3
November 28, 2027			1,125,000				—				1,125,000				289,000				29,695			1				3
November 28, 2027			1,125,000				—				1,125,000				303,000				100,032			1				3
November 28, 2032			750,000				—				750,000				263,000				—			1.5				8
November 28, 2032			250,000				—				250,000				89,000				—			1.5				8
November 28, 2032			500,000				—				500,000				165,000				—			2.5				8
November 28, 2032			500,000				—				500,000				169,000				17,365			2.5				8
November 28, 2032			250,000				—				250,000				87,000				8,939			6				8
November 28, 2032			750,000				—				750,000				258,000				85,175			6				8
December 23, 2028			300,000				—				300,000				411,403				—			1				3
Total			32,900,000				(14,000,000	)			18,900,000				24,379,389				1,680,038

Movement of respective share purchase warrants was shown below:

		Share purchase warrants
		2025				2024
		US$				US$
As of April 1			22,699,351				16,240,100
Additions and recognized in profit or loss			1,680,038				6,459,251
As of March 31			24,379,389				22,699,351

(c)

Share award plan

On June 30, 2022, the Company implemented its 2022 Performance Incentive Plan (“Plan”) to foster the success of the Company and to increase shareholder value by providing an additional means, through the grant of awards to attract, motivate, retain and reward selected employees and other eligible persons, and to enhance the alignment of the interests of such selected participants with the interests of the Company’s shareholders. Under the Plan, an aggregate of 3,300,000 ordinary shares of US$0.0001 par value each of the Company are reserved for issuance for purposes of the Plan, subject to adjustments as contemplated by the Plan.

		Number of share award grant
		2025				2024
		US$				US$
As of April 1			—				1,650,000
Exercised during the year			—				(1,650,000	)
As of March 31			—				—

The fair value of the share awards was calculated based on the market price of the Company’s shares at the respective grant date. The fair value of the share options granted during the year 2023 was US$1,573,500, of which the Company recognized a share option expense of US$753,685 during the year ended March 31,2024.

(iv)

Statutory reserves

As stipulated by the relevant laws and regulations applicable to China’s foreign investment enterprises, the Company’s PRC subsidiaries, which had been disposed during the year, are required to maintain a statutory surplus reserve which is non-distributable. Appropriations to such reserve are made out of net profit after tax of the statutory financial statements of the PRC subsidiaries at the amounts determined by their respective boards of directors annually up to 50% of authorized capital, but must not be less than 10% of the net profit after tax.

(v)

Accumulated deficit

The accumulated deficit comprises the cumulative net profit and losses for the year recognized in the consolidated statements of profit or loss.

(vi)

Accumulated other comprehensive (loss) income

Accumulated other comprehensive (loss) income represents the foreign currency translation difference arising from the translation of the financial statements of companies within the Company from their functional currency to the Company’s presentation currency.

(vii)

Treasury shares

On March 15, 2023, the Company repurchased 329,582 Shares of the Company by way of brokers platform at a consideration of US$353,816 (including transaction costs).

In April, 2023, the Company repurchased 79,758 Shares of the Company by way of brokers platform at a consideration of US$82,127 (including transaction costs).