Note
12 - Related Party Balance and Transactions
| Name of related parties |
Relation with the Company, its wholly-owned subsidiaries, VIE and VIE’s subsidiaries |
| |
|
| Ms. Yan Fu |
The Company’s director and chief executive officer and the chief executive officer of Jiangxi Ruanyun |
| |
|
| Mr. Cong Zhao |
The Company’s chief technology officer |
| |
|
| Mr. Linhua Wan |
A management staff of the Jiangxi Alphabet |
| |
|
| Mr. Xili Huang |
A majority shareholder of Jiangxi Yiluyun Technology Co., Ltd. |
| |
|
| Jiangxi Huapeng Information System Co., Ltd. |
A company controlled by Mr. Bin Wang, the director and shareholder of one of the Company’s 5% or greater shareholders, and a director of Jiangxi Ruanyun also serves as the executive director and general manager of such company |
| |
(b) |
The Company, its wholly-owned subsidiaries, VIE and VIE’s subsidiaries had the following related party balances as of March 31, 2025 and 2024: |
| Schedule of amount due from related parties |
|
|
|
|
|
|
|
|
| |
|
For the Years Ended March 31, |
| |
|
2025 |
|
2024 |
| Amount due from related parties: |
|
|
|
|
|
|
|
|
| Mr. Cong Zhao(1) (2) |
|
$ |
— |
|
|
$ |
31,578 |
|
| Ms. Xing Xie(1) |
|
|
5,512 |
|
|
|
— |
|
| Mr. Xili Huang(1) |
|
|
5,898 |
|
|
|
5,928 |
|
| |
|
$ |
11,410 |
|
|
$ |
37,506 |
|
| Amount due to related parties: |
|
|
|
|
|
|
|
|
| Ms. Yan Fu(3) |
|
$ |
43,289 |
|
|
$ |
63,403 |
|
(1) All balances with the related parties
as of March 31, 2025 and 2024 were unsecured, interest-free and had no fixed terms of repayments.
(2) The amounts due from Mr. Cong Zhao
were advances made for a business project. Mr. Cong Zhao subsequently repaid $31,419 as of the date of the filing of this annual report
with the SEC.
(3)
The amounts due to Ms. Yan Fu primarily consisted of (1) the operating lease expenses paid on behalf of the Company by Ms. Yan Fu and
(2) sales commissions owed her.
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