Schedule of Outstanding Balances on Long-Term Loans |
The outstanding balances on long-term loans as of June 30, 2025 and March 31, 2025
consisted of the following: | | | | As of June 30, 2025 | | | As of March 31, 2025 | | | Maturity | | Effective Interest | | | | Creditors | | | | Balance | | | Balance | | | Date | | Rate | | | Collateral/Guarantee | | | | | US$ | | | US$ | | | | | | | | | Fujian Fuqing Huitong Rural Commercial Bank Co., Ltd. | | 1 | | | 346,041 | | | | 2,204,698 | | | January 16, 2034 | | 5.25% | | | Construction in progress of | | | 2 | | | 276,275 | | | | 2,480,285 | | | | | | | | the Hongchang Food | | | 3 | | | 971,147 | | | | 964,555 | | | | | | | | Industrial Park, WFOE, | | | 4 | | | 2,219,965 | | | | 275,587 | | | | | | | | Mr. Zengqiang Lin, | | | 5 | | | 2,497,635 | | | | 344,484 | | | | | | | | Ms. Zhenzhu Lin | Subtotal | | | | | 6,311,063 | | | | 6,269,609 | | | | | | | | | Chailease International Finance Co., Ltd. (“Chailease”) | | | | | 496,190 | | | | 529,769 | | | October 25, 2027 | | 15.16% | | | Machines, WFOE, | | | | | | | | | | | | | | | | | | Mr. Zengqiang Lin and | | | | | | | | | | | | | | | | | | Mr. Huaqiang Lin | Pucheng Rural Credit Union | | | | | 136,742 | | | | 135,038 | | | August 30, 2025 | | 6.48% | | | | | | | | | | | | | | | | | | | | | | Total | | | | | 6,943,995 | | | | 6,934,416 | | | | | | | | |
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Schedule of Future Maturities of Long-Term Loans |
The future maturities of long-term loans from
Fujian Fuqing Huitong Rural Commercial Bank Co., Ltd. are as follows:
For the period ending June 30, | |
Principal | |
Remainder of 2026 | |
$ | 37,674 | |
2027 | |
| 139,532 | |
2028 | |
| 139,532 | |
2029 | |
| 267,902 | |
Thereafter | |
| 5,726,422 | |
| |
$ | 6,311,062 | |
less: current portion | |
$ | 107,440 | |
Non-current portion | |
$ | 6,203,622 | |
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