Related Party Transactions and Balances (Tables)
|
3 Months Ended |
Jun. 30, 2025 |
|---|
| Related Party Transactions and Balances [Line Items] |
|
| Schedule of Due from Related Parties |
As of June 30, 2025 and March 31, 2025, balances
due from related parties from the Company’s operations were comprised of the following:
| | |
June 30, | | |
March 31, | |
| | |
2025 | | |
2025 | |
| | |
(Unaudited) | | |
| |
| Total due from related parties | |
$ | 6,516,896 | | |
$ | 6,723,887 | |
| Less: Allowance for credit losses | |
| (5,232,834 | ) | |
| (5,165,699 | ) |
| Due from related parties, net | |
$ | 1,284,062 | | |
$ | 1,558,188 | |
| Due from related parties, net, current | |
$ | 172,336 | | |
$ | 172,049 | |
| Due from a related party, net, non-current | |
$ | 1,111,726 | | |
$ | 1,386,139 | |
|
| Schedule of Allowance for Credit Losses Due from Jinkailong |
Movement of allowance for credit losses for the
three months ended June 30, 2025 and for year ended March 31, 2025 are as follows:
| | |
June 30, | | |
March 31, | |
| | |
2025 | | |
2025 | |
| | |
(Unaudited) | | |
| |
| Beginning balance | |
$ | — | | |
$ | 1,545 | |
| Write off | |
| — | | |
| (1,538 | ) |
| Translation adjustment | |
| — | | |
| (7 | ) |
| Ending balance | |
$ | — | | |
$ | — | |
|
| Schedule of Due to Related Parties |
Due to related parties
| | |
June 30, | | |
March 31, | |
| | |
2025 | | |
2025 | |
| | |
(Unaudited) | | |
| |
| Loan payable to a related party (i) | |
$ | 99,761 | | |
$ | 414 | |
| Other payable due to a related party (ii) | |
| 164,453 | | |
| 162,343 | |
| Other payable due to a related party (iii) | |
| 16,891 | | |
| 16,674 | |
| Total due to related parties | |
$ | 281,105 | | |
$ | 179,431 | |
| (i) | As of June 30, 2025 and March 31, 2025, the balances represented borrowings from Xi Wen, the CEO of the Company, of which, $99,761 and $414 are unsecured, interest free and due on demand, respectively. |
| (ii) | As of June 30, 2025 and March 31, 2025, the balances represented outstanding lease payments due to Hong Li, the Supervisor of Sichuan Senmiao, upon termination of existing lease. In July 2024, the Company signed a rent-free agreement with Li Hong, and the lease agreement period is from July 1, 2024 to July 31, 2025. A rent-free renewal lease contract was signed on August 1, 2025, which extended the rent-free lease to December 2025. |
| (iii) | As of June 30, 2025 and March 31, 2025, the balances represented automobile lease payments to Laobing and a deposit for the Company leased automobiles to Laobing. |
|
| Schedule of Operating Lease Right-of-Use Assets |
Operating
lease right-of-use assets - a related party and Operating lease liabilities - a related party
| | |
June 30, | | |
March 31, | |
| | |
2025 | | |
2025 | |
| | |
(Unaudited) | | |
| |
| Operating lease right-of-use assets – a related party | |
$ | 76,538 | | |
$ | 6,910 | |
| Operating lease liabilities, current – a related party | |
$ | 66,768 | | |
$ | 10,365 | |
| Operating lease liabilities, non-current – a related party | |
$ | 30,596 | | |
$ | — | |
|
| Jinkailong [Member] |
|
| Related Party Transactions and Balances [Line Items] |
|
| Schedule of Allowance for Credit Losses Due from Jinkailong |
Movement of allowance for credit losses due from
Jinkailong for the three months ended June 30, 2025 and for year ended March 31, 2025 are as follows:
| | |
June 30, | | |
March 31, | |
| | |
2025 | | |
2025 | |
| | |
(Unaudited) | | |
| |
| Beginning balance | |
$ | 5,165,699 | | |
$ | 3,099,701 | |
| Addition | |
| — | | |
| 2,093,199 | |
| Translation adjustment | |
| 67,135 | | |
| (27,201 | ) |
| Ending balance | |
$ | 5,232,834 | | |
$ | 5,165,699 | |
|