v3.26.1
LEASES
 6 Months Ended 12 Months Ended
Sep. 30, 2025
Mar. 31, 2025
Leases [Abstract]    
LEASES

NOTE 12 — LEASES

 

(a) Lessee

 

The VIEs, Junzhang Shanghai, Junzhang Beijing and their subsidiaries, entered into various operating lease agreements with different landlords to lease office space and warehouse space in major cities in the PRC. The Management believes that all the leases are operating leases.

 

The table below presents the operating lease related assets and liabilities recorded on the balance sheets.

 

   September 30,   March 31, 
   2025   2025 
Operating lease right-of-use lease assets  $377,626   $434,188 
    　      
Operating lease liabilities – current  $292,072   $275,213 
Operating lease liabilities – non-current   202,158    258,974 
Total operating lease liabilities  $494,230   $534,187 

The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of September 30, 2025 and March 31, 2025:

 

   September 30,   March 31, 
   2025   2025 
Remaining lease term and discount rate:        
Weighted average remaining lease term (years)   2.27    2.74 
Weighted average discount rate   3.69%   3.64%

 

During the six months ended September 30, 2025 and 2024, the Company incurred total operating lease expenses of $135,834 and $101,021, respectively.

 

As of September 30, 2025, future minimum lease payments under non-cancelable operating lease agreement are as follows:

 

Remaining of 2026  $222,753 
2027   156,196 
2028   83,930 
2029   12,598 
2030   11,123 
Thereafter   27,808 
Total lease payments   514,408 
Less: imputed interest   (20,178)
Total  $494,230 

 

(b) Lessor

 

The components of lease income are as follows:

 

      For the Six Months Ended 
      September 30, 
   Location in disaggregation of revenue  2025   2024 
Revenue from sales type leases  Sales of equipment  $21,915   $8,880 
Financing income on lease receivables  Financing   2,775    3,937 
Lease income - operating leases  Leasing of equipment   393,399    508,013 
Variable lease income  Leasing of equipment   143,002    124,543 
Revenue from maintenance services  Maintenance services   27,216    47,542 
Total lease income     $588,307   $692,915 

 

Profit at lease commencement on sales type leases was estimated to be approximately $3,000 and $5,000 for the six months ended September 30, 2025 and 2024, respectively.

NOTE 12 — LEASES

 

(a) Lessee

 

The VIEs, Junzhang Shanghai, Junzhang Beijing and their subsidiaries, entered into various operating lease agreements with different landlords to lease office space and warehouse space in major cities in the PRC. The Management believes that all the leases are operating leases.

 

The table below presents the operating lease related assets and liabilities recorded on the balance sheets.

 

   March 31,   March 31, 
   2025   2024 
Operating lease right-of-use lease assets  $434,188   $346,995 
           
Operating lease liabilities – current  $275,213   $248,562 
Operating lease liabilities – non-current   258,974    186,833 
Total operating lease liabilities  $534,187   $435,395 

 

The weighted average remaining lease terms and discount rates for all of operating leases were as follows as of March 31, 2025 and 2024:

 

   March 31,   March 31, 
   2025   2024 
Remaining lease term and discount rate:        
Weighted average remaining lease term (years)   2.74    3.02 
Weighted average discount rate   3.64%   4.38%

 

During the years ended March 31, 2025, 2024 and 2023, the Company incurred total operating lease expenses of $250,939, $274,707 and $260,561, respectively.

 

As of March 31, 2025, future minimum lease payments under non-cancelable operating lease agreement are as follows:

 

2026  $286,416 
2027   147,447 
2028   76,551 
2029   10,912 
2030   10,912 
Thereafter   27,281 
Total lease payments   559,519 
Less: imputed interest   (25,332)
Total  $534,187 

(b) Lessor

 

The components of lease income are as follows:

 

      For the Years Ended 
      March 31, 
   Location in Statements of            
   Income  2025   2024   2023 
Revenue from sales type leases  Sales of equipment  $31,516   $45,411   $112,908 
Financing income on lease receivables  Financing   7,397    12,019    12,935 
Lease income - operating leases  Leasing of equipment   969,089    911,140    627,347 
Variable lease income  Leasing of equipment   267,428    323,180    482,493 
Revenue from maintenance services  Maintenance services   74,587    106,745    113,582 
Total lease income     $1,350,017   $1,398,495   $1,349,265 

 

Profit at lease commencement on sales type leases was estimated to be approximately $5,000, $10,000 and $15,000 for the years ended March 31, 2025, 2024 and 2023, respectively.