| Related party balances and transactions |
26. Related party balances and transactions
Related parties’ relationships as follows:
| Name | | Relationship | | Hongyu Zhang | | Former Shareholder; director of various subsidiaries | | Limin Liu | | Chief Executive Officer | | Bingzhong Wang | | Director of the Company | | Ming Ni | | Chief Operating Officer | | Pengyuan Fan | | Director of the Company | | Mrs. Wang | | Spouse of Mr. Bingzhong Wang | | Northstar | | Non-controlling interest of Metalpha before November 30, 2023, and minority shareholder of the Company after October 1, 2023 | | Polaris Investment Management PTE Limited | | Related companies of Polaris Technologies Group Limited | | Antpool Technologies Limited | | Shareholder of Northstar | | Folius Venture LLC | | Shareholder | | LSQ Investment Fund SPC – Next Generation Fund I SP | | Bingzhong Wang act as director of the Company while LSO Capital Limited as Sub-Investment Manager | Related parties’ balance are consisted
of the following:
| | |
For the years ended
March 31, | |
| | |
2025 | | |
2024 | |
| Continuing operation | |
US$ | | |
US$ | |
| a. Digital assets payables | |
| | |
| |
| Northstar | |
| — | | |
| 2,934,976 | |
| Mrs. Wang | |
| 10,602,787 | | |
| 4,330,653 | |
| Mr. Ni Ming | |
| 87,270 | | |
| 1,283,860 | |
| Mr. Fan Peng Yuan | |
| 12,757 | | |
| — | |
| Folius Venture LLC | |
| — | | |
| 377,370 | |
| Total | |
| 10,702,814 | | |
| 8,926,859 | |
| | |
| | | |
| | |
| b. Payable to customer | |
| | | |
| | |
| Northstar | |
| 10,483 | | |
| 3,548 | |
| Folius Venture LLC | |
| 76 | | |
| 962,689 | |
| Mrs. Wang | |
| 671,405 | | |
| 3,032,712 | |
| Mr. Fan Peng Yuan | |
| 787 | | |
| — | |
| Mr. Ni Ming | |
| 8,807 | | |
| 28,806 | |
| LSQ Investment Fund SPC – Next Generation Fund I SP | |
| — | | |
| 37,607,220 | |
| Total | |
| 691,558 | | |
| 41,634,975 | |
| | |
| | | |
| | |
| c. Other payables | |
| | | |
| | |
| Polaris Investment Management PTE Limited | |
| 460,075 | | |
| — | |
| Northstar | |
| 40 | | |
| 1,000,040 | |
Related parties’ transactions are consisted of the following:
| | |
For the years ended
March 31, | |
| | |
2025 US$ | | |
2024 US$ | |
| Derivative products entered with Northstar | |
| 88,965,528 | | |
| 139,393,093 | |
| Derivative products expired to Northstar | |
| (88,965,528 | ) | |
| (154,095,287 | ) |
| Derivative products entered with Mrs. Wang | |
| 31,714,755 | | |
| 20,234,318 | |
| Derivative products expired to Mrs. Wang | |
| (22,167,525 | ) | |
| (19,313,245 | ) |
| Derivative products entered with Mr. Ni Ming | |
| 2,631,497 | | |
| 1,381,552 | |
| Derivative products expired to Mr. Ni Ming | |
| (2,541,024 | ) | |
| (119,535 | ) |
| Derivative products entered with Mr. Fan Peng Yuan | |
| 13,000 | | |
| — | |
| Derivative products expired to Mr. Fan Peng Yuan | |
| (288 | ) | |
| | |
| Derivative products entered with LSQ Investment Fund SPC – Next Generation Fund I SP | |
| — | | |
| 29,811,264 | |
| Derivative products expired to LSQ Investment Fund SPC – Next Generation Fund I SP | |
| — | | |
| (34.575,494 | ) |
| Derivative products entered with Folius Venture LLC | |
| 1,029,928 | | |
| 29,811,264 | |
| Derivative products expired to Folius Venture LLC | |
| (1,029,928 | ) | |
| (34,575,494 | ) |
Note:
| |
(a) |
All amounts are due on demand, non-interest bearing and unsecured. |
|