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The Group conducted its business in the People’s Republic of China (the “PRC” or “China”) through a series of contractual agreements entered into by the WFOE with the VIE based in China. The Group is primarily engaged in sports-related product sales and providing information technology solutions services to connect consumers and merchants through its e-commercial platform in China. 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(“Rongganghui” or “wholly foreign-owned enterprise” or “WFOE” or “primary beneficiary of the VIE”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zhYR19Hfspwj">100</td> <td style="white-space: nowrap; vertical-align: top; text-align: right">%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"><span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zPbSFwVm6qI5">Technical support and consulting services <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zXRPglG1Unle">February 21, 2025</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top; text-indent: 0.7pt"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">VIE</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Zhejiang Fit-One Internet Technology Co., Ltd. (“Fit-One” or “VIE”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"><span id="xdx_90E_ecustom--EquityMethodInvestmentOwnership_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_z5nmAEz2jrD8">Variable interest</td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"><span id="xdx_907_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_zuKpgJu2RV72">Membership health service platform, Hangzhou, Zhejiang province, China <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_ziCSbHhhYw9l">December 31, 2019</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Subsidiaries of VIE</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Hangzhou Joymove Brand Operation and Management Co., Ltd. (“Joymove”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zOzQQBwF5ANd">100%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"><span id="xdx_908_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_z4HHWKiAT8Hb">Operating entity; <span id="xdx_905_ecustom--PlaceOfIncorporation_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_z5HWdHxZmLGh">Hangzhou, Zhejiang province, China <span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zOv3yuYdJokd">May 19, 2021</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Hangzhou Dazhika Technology Co., Ltd (“Dazhika”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_zsMDnLjU8jsc">98%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"><span id="xdx_905_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_zIQS8bhOPac7">Operating entity; Hangzhou, Zhejiang province, China <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_zLZVFlipj898">March 27, 2024</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Dazhika (Xiushui) Technology Co., Ltd (“Dazhika (Xiushui”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_z8MVaMTbywnd" title="Percentage of legal ownership">100%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"><span id="xdx_904_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zMGbN10dHzJd">Operating entity; <span id="xdx_90A_ecustom--PlaceOfIncorporation_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zal8JD2lfUz2" title="Principal activities, place and date of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_906_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zA8pkzvbYeyi">January 10, 2025</td> <td style="vertical-align: bottom"> </td></tr> </table> History of the Group Reorganization Prior to the incorporation of the Company and the completion of the reorganization as described below, the Group conducted its business through Fit-One, a limited liability company established in Hangzhou, Zhejiang province, the PRC in 2019. The Group focused on providing health products and sports-related services. In connection with the proposed initial public offering of the Company’s shares, the Group undertook certain corporate restructuring activities in 2024 to establish an offshore structure and the Company as the Group’s ultimate holding company for the entire equity interest in Fit-One. (the “Reorganization”). Upon completion of the Reorganization, the businesses were transferred to the Group. The Company and Mingde HK had no operations but only nominal amount of net assets prior to the consummation of the Reorganization and did not meet the definition of a business. All of the Group’s businesses continued to be conducted through Fit-One and its subsidiary after the Reorganization. There was no change in control over the Group before and after the Reorganization. Accordingly, the Group resulting from these Reorganization transactions was regarded as a recapitalization of Fit-One with no change in the basis of presentation of the financial statements. The Group’s financial information had been prepared on a consolidated basis as if the Reorganization occurred since the earliest period presented in these consolidated financial statements, and represented a continuation of the consolidated financial statements of Fit-One, whereas the assets, liabilities and operating results were presented at their historical carrying values. Contractual arrangements with VIE PRC laws and regulations place certain restrictions on foreign investment in value-added telecommunication service businesses. To comply with PRC laws and regulations, the Group operates its businesses in the PRC through the VIE and the VIE’s subsidiaries. Most of the Group’s revenues, cost of revenues, expenses and net profit in China were generated directly or indirectly through the VIE and the VIE’s subsidiary. The Company relies on a series of contractual arrangements among its WFOE, the VIE and their shareholders to conduct the business operations of the VIE and the VIE’s subsidiaries. Below is a summary of the currently effective contractual arrangements by and among WFOE, the VIE and its shareholders. Equity Interest Pledge Agreement Under the equity interest pledge agreement among WFOE, the VIE and its shareholders, the VIE’s shareholders pledged all of their equity interests of the VIE to WFOE as security for performance of the obligations of the VIE and its shareholders under the exclusive option agreement, the exclusive business cooperation agreement and the powers of attorney. During the term of the equity interest pledge agreement, WFOE has the right to receive all of the VIE’s dividends distributed on the pledged equity to the extent permitted under PRC laws. If any of the specified events of default occurs, WFOE, as pledgee, will be entitled to certain rights and remedies including priority in receiving the proceeds from the auction or disposal of the pledged equity interests in the VIE. WFOE may transfer all or any of its rights and obligations under the equity interest pledge agreement to its designee(s) at any time. The VIE and its shareholders undertake that, without the prior written consent of WFOE, they will not transfer, create or allow any encumbrance on the pledged equity interests. The agreement will remain in effect until the fulfillment of all the obligations under the exclusive option agreement, the exclusive business cooperation agreement and the powers of attorney. Exclusive Option Agreement Under the exclusive option agreement among the Company, WFOE, the VIE and its shareholders, each of the shareholders of the VIE has irrevocably granted the Company or its designee(s) an exclusive option to purchase, at any time and to the extent permitted under PRC laws, all or any part of their equity interests in the VIE at the lowest price permitted under applicable PRC laws if there is any statutory requirement about the consideration under PRC laws. The VIE and/or its shareholders covenant that, without the Company’s prior written consent, they will not, among other things, (i) sell, transfer, mortgage or otherwise dispose of their equity interests in the VIE, or create any encumbrance on their equity interests in the VIE, except for those encumbrances created by the VIE’s shareholders on the VIE under the equity interest pledge agreement, the powers of attorney of the VIE’s shareholders, and the exclusive option agreement; (ii) amend the VIE’s articles of association, or change the VIE’s registered capital or shareholding structure in any other manners; (iii) cause the VIE to enter into any material contract, except in the ordinary course of business; (iv) allow the VIE to incur, inherit, guarantee or permit any debts, except for those payables incurred in the ordinary course of business but not incurred by way of borrowing; (v) merge or consolidate the VIE with any other entity or acquire or invest in any other entity; (vi) distribute any dividend, however, upon request by the Company, the VIE shall immediately distribute all distributable profits to its shareholders; (vii) sell, transfer, mortgage or otherwise dispose of any of the VIE’s material assets or legal or beneficial interest in the material business or revenues of the VIE, or allow any encumbrance of any security interest thereon; or (viii) liquidate or dissolve the VIE unless otherwise required by PRC law. The exclusive option agreement will be terminated when the entire equity interests in the VIE have been transferred to the Company or its designee(s) pursuant to the agreement. Exclusive Business Cooperation Agreement Pursuant to the exclusive business cooperation agreement between WFOE and the VIE, WFOE has the exclusive right to provide, among other things, technological development, technological support, consultation and related services to the VIE. In exchange, the VIE pays service fees at any time agreed by the parties to WFOE in an amount consisting of management fee and fee for services provided, which shall be reasonably determined by WFOE based on the factors as provided in the exclusive business cooperation agreement. Without the prior written consent of WFOE, the VIE cannot assign its rights and obligations to any third party. WFOE has the exclusive and complete ownership of all intellectual property rights created as a result of the performance of this agreement. The exclusive business cooperation agreement will remain effective for thirty years upon its execution by the parties and be automatically extended for another thirty years upon expiration date, unless otherwise agreed by WFOE. Power of Attorney Pursuant to the powers of attorney executed by the VIE’s shareholders, each of them irrevocably authorized our WFOE or its designee(s) to act on their respective behalf as proxy attorney, to the extent permitted by law, to exercise all rights of shareholders concerning all the equity interest held by each of them in the VIE, including but not limited to (i) convening and attending shareholder meetings, (ii) exercising voting rights with respect to any matters discussed in shareholder meetings, (iii) signing and delivering any written resolutions and minutes, (iv) selling, transferring, pledging or disposing of equity interests in part or in whole, (v) nominating, electing, designating, appointing or removing the legal representative, directors and other senior management of the VIE, (vi) approving amendments of articles, and (vii) exercising all other rights conferred by the VIE’s memorandum and articles and relevant laws and regulations. The powers of attorney remain irrevocably effective as long as such VIE shareholders remain as the VIE’s shareholders, unless otherwise instructed by WFOE. Pursuant to ASC 805, as the Company and the VIE are under common control, the corporate reorganization was accounted for in a manner similar to a pooling of interests. As a result, the Company’s historical amounts in the accompanying consolidated financial statements give retroactive effect to the Reorganization, whereby the assets and liabilities of the VIE and the VIE’s subsidiaries are reflected at the historical carrying values and their operations are presented as if the Reorganization had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements. The Group’s business has been directly operated by the VIE and its subsidiaries. The carrying amounts of the assets, liabilities and the results of operations of the VIEs and the VIEs’ subsidiaries are included in the Company’s consolidated balance sheets and statements of operations. For the fiscal years ended March 31, 2025 and 2024, the VIE contributed 100% of the Group’s consolidated revenues. As of the years ended March 31, 2025 and 2024, the VIE accounted for an aggregate of 100% of both the consolidated total assets and liabilities. Risks in relation to the VIE structure The Group’s business is mainly conducted through the VIE and subsidiaries of VIE, of which the Company is the ultimate primary beneficiary. The Company has concluded that (i) the ownership structure of the VIE is not in violation of any applicable PRC laws or regulations currently in effect and (ii) each of the VIE contractual agreements is valid, binding, and enforceable in accordance with their terms and applicable PRC laws or regulations currently in effect. However, uncertainties in the PRC legal system could cause the relevant regulatory authorities to find the current VIE contractual agreements and the legal structure to be in violation of any existing or future PRC laws or regulations. On March 15, 2019, the National People’s Congress adopted the Foreign Investment Law of the PRC, which became effective on January 1, 2020, together with their implementation rules and ancillary regulations. The Foreign Investment Law does not explicitly classify contractual arrangements as a form of foreign investment, but it contains a catch-all provision under the definition of “foreign investment”, which includes investments made by foreign investors through means stipulated in laws or administrative regulations or other methods prescribed by the State Council. It is unclear whether the Group’s corporate structure will be seen as violating the foreign investment rules as the Group is currently leveraging the contractual arrangements to operate certain business in which foreign investors are prohibited from or restricted to investing. If variable interest entities fall within the definition of foreign investment entities, the Group’s ability to use the contractual arrangements with the VIE and the Group’s ability to conduct business through the VIE could be severely limited. In addition, if the Group’s corporate structure and the contractual arrangements with the VIE through which the Group conducts its business in the PRC were found to be in violation of any existing or future PRC laws and regulations, the Group’s relevant PRC regulatory authorities could: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">revoke the business licenses and/or operating licenses of the Group’s PRC entities;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">impose fines;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%; text-indent: 0.6pt">confiscate any income that they deem to be obtained through illegal operations, or impose other requirements with which the Group may not be able to comply;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">discontinue or place restrictions or onerous conditions on the Group’s operations;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">place restrictions on the right to collect revenues;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">shut down the Group’s servers or block the Group’s websites or mobile apps;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">the Group to restructure ownership structure or operations, including terminating the contractual arrangements with the VIE and deregistering the equity pledges of the VIE, which in turn would affect the ability to consolidate, derive economic interests from the VIE and their subsidiaries;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%; text-indent: 0.8pt">restrict or prohibit the use of the proceeds from financing activities to finance the business and operations of the VIE and their subsidiaries; or</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%; text-indent: 0.5pt">take other regulatory or enforcement actions that could be harmful to the Group’s business.</td></tr> </table> The imposition of any of these penalties may result in a material and adverse effect on the Group’s ability to conduct the Group’s business. In addition, if the imposition of any of these penalties causes the Group to lose the rights to direct the activities of the VIE or the right to receive its economic benefits, the Group would no longer be able to consolidate the VIE. The management believes that the likelihood for the Group to lose such ability is remote based on current facts and circumstances. However, the interpretation and implementation of the laws and regulations in the PRC and their application to an effect on the legality, binding effect and enforceability of contracts are subject to the discretion of competent PRC authorities, and therefore there is no assurance that relevant PRC authorities will take the same position as the Group herein in respect of the legality, binding effect and enforceability of each of the contractual arrangements. Meanwhile, since the PRC legal system continues to rapidly evolve, it may lead to changes in PRC laws, regulations, and policies or in the interpretation and application of existing laws, regulations and policies, which may limit legal protections available to the Group to enforce the contractual arrangements should the VIE or the shareholder of the VIE fail to perform their obligations under those arrangements. In addition, shareholder of the VIE is a PRC holding entity beneficially owned by the Founder, chairman of the board of directors and chief executive officer of the Company. The enforceability, and therefore the benefits, of the contractual agreements between the Company and the VIE depend on the shareholder enforcing the contracts. There is a risk that shareholders of VIE, who in some cases are also shareholder of the Company may have conflict of interests with the Company in the future or fails to perform their contractual obligations. Given the significance and importance of the VIE, there would be a significant negative impact on the Company if these contracts were not enforced. The Group’s operations depend on the VIE to honor their contractual agreements with the Group and the enforceability, and therefore the benefits, of the contractual agreements also depends on the authorization by the shareholder of the VIE to exercise voting rights on all matters requiring shareholder approval in the VIE. The Company believes that the agreements on authorization to exercise shareholder’s voting power are enforceable against each party thereto in accordance with their terms and applicable PRC laws or regulations currently in effect and the possibility that it will no longer be able to be the primary beneficiary and consolidate the VIE as a result of the aforementioned risks and uncertainties is remote. In accordance with the contractual agreements, the Company could (1) exercise the shareholder’s rights of the VIE and has power to direct the activities that most significantly affects the economic performance of the VIE and subsidiaries of VIE, (2) absorb substantially all of the expected losses and receive substantially expected residual returns of the VIE and subsidiaries of VIE; and (3) has an exclusive call option to purchase all or part of the equity interests in and/or assets of each of VIE and subsidiaries of VIE when and to the extent permitted by PRC law. Accordingly, the Company is considered as the ultimate primary beneficiary of the VIE and has consolidated the VIE’s financial results of operations, assets, and liabilities in the Company’s consolidated financial statements. Therefore, the Company considers that there are no assets in the VIE that can be used only to settle obligations of the VIE, except for the paid-in capital of the VIE amounting to RMB10,000,000 (US$1,378,037) and RMB9,955,000 as of March 31, 2025 and 2024, as well as certain non-distributable statutory reserves amounting to approximately nil and nil as of March 31, 2025 and 2024. As the VIE is incorporated as a limited liability company under the PRC Company Law, creditors do not have recourse to the general credit of the Company for the liabilities of the VIE. As the Group is conducting certain business in the PRC through the VIE, the Company would provide unlimited financial support to the VIE if, in the normal operation of business, the VIE should become in need of any form of reasonable financial support, which could expose the Group to a loss. The following consolidated financial information of the VIE after the elimination of inter-company transactions between the VIE and its subsidiaries as of and for the years ended March 31, 2025 and 2024 was included in the accompanying consolidated financial statements of the Group as follows: <table cellpadding="0" cellspacing="0" id="xdx_897_esrt--ScheduleOfCondensedFinancialStatementsTableTextBlock_zFuhhn8S8dOb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Organizations and reorganizations (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of consolidated financial statements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Balance Sheet of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 52%; text-align: justify">Total assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--Assets_iI_c20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z6E8wUdBB788" style="width: 13%; text-align: right" title="Total assets">33,053,253</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Assets_iI_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zMsCVbd4FaD5" style="width: 13%; text-align: right" title="Total assets">32,672,916</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--Assets_iI_uUSD_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zQRkhK9AxSUi" style="width: 13%; text-align: right" title="Total assets">4,589,536</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Liabilities_iI_c20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zm0TBJjdBWce" style="text-align: right" title="Total liabilities">65,452,439</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Liabilities_iI_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z1MQF6vwK296" style="text-align: right" title="Total liabilities">57,692,272</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Liabilities_iI_uUSD_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zv0gZ8x2UWA1" style="text-align: right" title="Total liabilities">8,103,986</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Statement of Operations of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 52%; text-align: justify">Net revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zr3JWlrngjJg" style="width: 13%; text-align: right" title="Net revenues">41,606,354</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zRznGp2rWQ0g" style="width: 13%; text-align: right" title="Net revenues">109,988,114</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zkC1pR5TajUa" style="width: 13%; text-align: right" title="Net revenues">15,449,939</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Net (loss)/profit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zkHEFrH3hocj" style="text-align: right" title="Net loss">(11,565,768</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z9yhWb7j3KR9" style="text-align: right" title="Net loss">7,334,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z5odZZTRjBd2" style="text-align: right" title="Net loss">1,030,317</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Cash Flow of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 52%; text-align: justify">Net cash provided by operating activities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInOperatingActivities_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z918FEk5DZUl" style="width: 13%; text-align: right" title="Net cash provided by operating activities">16,559,104</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--NetCashProvidedByUsedInOperatingActivities_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zrKKPotpW898" style="width: 13%; text-align: right" title="Net cash provided by operating activities">6,587,712</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zZ4aRvOSIi" style="width: 13%; text-align: right" title="Net cash provided by operating activities">925,367</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Net cash used in investing activities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NetCashProvidedByUsedInInvestingActivities_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zyDGCD41685f" style="text-align: right" title="Net cash used in investing activities">(488,536</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--NetCashProvidedByUsedInInvestingActivities_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zYDiX8gNX6wk" style="text-align: right" title="Net cash used in investing activities">(14,508,262</td><td style="text-align: left">) </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--NetCashProvidedByUsedInInvestingActivities_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zut8xsAYUfZa" style="text-align: right" title="Net cash used in investing activities">(2,037,964</td><td style="text-align: left">) </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Net cash used in financing activities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--NetCashProvidedByUsedInFinancingActivities_d0_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zvydWfAXuh0d" style="text-align: right" title="Net cash used in financing activities">(599,851</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--NetCashProvidedByUsedInFinancingActivities_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zGGRXihA48Oc" style="text-align: right" title="Net cash used in financing activities">(7,136,808</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInFinancingActivities_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zkyNpy4tVSv9" style="text-align: right" title="Net cash used in financing activities">(1,002,502</td><td style="text-align: left">)</td></tr> </table> Liquidity The Group has net profit of RMB7,334,830 (US$1,030,317) and net loss of RMB11,565,768 for the years ended March 31, 2025 and 2024, respectively. Net cash provided by operating activities were approximately RMB6,587,712 (US$925,367) and RMB16,559,104 for the years ended March 31, 2025 and 2024, respectively. Accumulated deficit was RMB34,800,182 (US$4,888,353) and RMB42,354,186 as of March 31, 2025 and 2024, respectively. The Company has historically funded its working capital needs primarily from operations, bank loans, and advances from shareholders and intends to continue doing so in the near future to ensure sufficient working capital. The Group’s ability to continue as a going concern is dependent on management’s ability to successfully execute its business plan, which includes increasing revenues while controlling operating expenses, as well as generating operational cash flows and continuing to gain support from outside sources of financing. Based on the above considerations, the Group believes the cash and cash equivalents and the operating cash flows are sufficient to meet the cash requirements to fund planned operations and other commitments for at least the next twelve months from the date of the issuance of the consolidated financial statements. The Group’s consolidated financial statements have been prepared based on the Company’s continuing as a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zK8WFSwF5ly2" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Organizations and reorganizations (Details)"> <tr style="background-color: White"> <td style="vertical-align: top; text-indent: 0.7pt">Schedule of VIE and subsidiaries</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: top"> </td> <td style="white-space: nowrap"> </td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom">Percentage of legal ownership of the Company</td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center">Principal activities, place and date of incorporation</td> <td> </td></tr> <tr> <td style="vertical-align: bottom; text-indent: 0.7pt">Subsidiaries</td> <td style="white-space: nowrap"> </td> <td colspan="2" style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap"> </td> <td style="vertical-align: top; text-align: right"> </td> <td> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top; width: 59%; text-indent: 0.7pt">Mingde Technology Hong Kong International Limited (“Mingde HK”)</td> <td style="white-space: nowrap; vertical-align: bottom; width: 1%"> </td> <td style="white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="vertical-align: top; width: 18%; text-align: right"><span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zy6XKygf5XSb">100</td> <td style="white-space: nowrap; vertical-align: top; width: 1%; text-align: right">%</td> <td style="white-space: nowrap; vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 18%"><span id="xdx_908_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zCDOc1URhDCh">Investment holding, <span id="xdx_90A_ecustom--PlaceOfIncorporation_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zlmqEV9w2Ku">Hong Kong, China, <span id="xdx_90F_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zhrXqZ0YqFV4">September 26, 2024</td> <td style="vertical-align: bottom; width: 1%"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top; text-indent: 0.7pt">Jiujiang Rongganghui Technology Co., Ltd. (“Rongganghui” or “wholly foreign-owned enterprise” or “WFOE” or “primary beneficiary of the VIE”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"><span id="xdx_907_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zhYR19Hfspwj">100</td> <td style="white-space: nowrap; vertical-align: top; text-align: right">%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"><span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zPbSFwVm6qI5">Technical support and consulting services <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zXRPglG1Unle">February 21, 2025</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top; text-indent: 0.7pt"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">VIE</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Zhejiang Fit-One Internet Technology Co., Ltd. (“Fit-One” or “VIE”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"><span id="xdx_90E_ecustom--EquityMethodInvestmentOwnership_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_z5nmAEz2jrD8">Variable interest</td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"><span id="xdx_907_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_zuKpgJu2RV72">Membership health service platform, Hangzhou, Zhejiang province, China <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_ziCSbHhhYw9l">December 31, 2019</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Subsidiaries of VIE</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Hangzhou Joymove Brand Operation and Management Co., Ltd. (“Joymove”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_902_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zOzQQBwF5ANd">100%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"><span id="xdx_908_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_z4HHWKiAT8Hb">Operating entity; <span id="xdx_905_ecustom--PlaceOfIncorporation_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_z5HWdHxZmLGh">Hangzhou, Zhejiang province, China <span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zOv3yuYdJokd">May 19, 2021</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Hangzhou Dazhika Technology Co., Ltd (“Dazhika”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_90A_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_zsMDnLjU8jsc">98%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"><span id="xdx_905_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_zIQS8bhOPac7">Operating entity; Hangzhou, Zhejiang province, China <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_zLZVFlipj898">March 27, 2024</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Dazhika (Xiushui) Technology Co., Ltd (“Dazhika (Xiushui”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_z8MVaMTbywnd" title="Percentage of legal ownership">100%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"><span id="xdx_904_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zMGbN10dHzJd">Operating entity; <span id="xdx_90A_ecustom--PlaceOfIncorporation_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zal8JD2lfUz2" title="Principal activities, place and date of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_906_edei--EntityIncorporationDateOfIncorporation_dd_c20240401__20250331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zA8pkzvbYeyi">January 10, 2025</td> <td style="vertical-align: bottom"> </td></tr> </table>

Investment holding

Hong Kong, China 2024-09-26

Technical support and consulting services

2025-02-21 Variable interest

Membership health service platform

Hangzhou, Zhejiang province, China 2019-12-31

Operating entity

Hangzhou, Zhejiang province, China 2021-05-19

0.98

Operating entity

Hangzhou, Zhejiang province, China 2024-03-27

Operating entity

Hangzhou, Zhejiang province, China 2025-01-10

10000000

1378037

9955000

<table cellpadding="0" cellspacing="0" id="xdx_897_esrt--ScheduleOfCondensedFinancialStatementsTableTextBlock_zFuhhn8S8dOb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Organizations and reorganizations (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of consolidated financial statements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Balance Sheet of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 52%; text-align: justify">Total assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--Assets_iI_c20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z6E8wUdBB788" style="width: 13%; text-align: right" title="Total assets">33,053,253</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Assets_iI_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zMsCVbd4FaD5" style="width: 13%; text-align: right" title="Total assets">32,672,916</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--Assets_iI_uUSD_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zQRkhK9AxSUi" style="width: 13%; text-align: right" title="Total assets">4,589,536</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Liabilities_iI_c20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zm0TBJjdBWce" style="text-align: right" title="Total liabilities">65,452,439</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Liabilities_iI_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z1MQF6vwK296" style="text-align: right" title="Total liabilities">57,692,272</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Liabilities_iI_uUSD_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zv0gZ8x2UWA1" style="text-align: right" title="Total liabilities">8,103,986</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Statement of Operations of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 52%; text-align: justify">Net revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zr3JWlrngjJg" style="width: 13%; text-align: right" title="Net revenues">41,606,354</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zRznGp2rWQ0g" style="width: 13%; text-align: right" title="Net revenues">109,988,114</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zkC1pR5TajUa" style="width: 13%; text-align: right" title="Net revenues">15,449,939</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Net (loss)/profit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zkHEFrH3hocj" style="text-align: right" title="Net loss">(11,565,768</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z9yhWb7j3KR9" style="text-align: right" title="Net loss">7,334,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z5odZZTRjBd2" style="text-align: right" title="Net loss">1,030,317</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Year Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Cash Flow of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 52%; text-align: justify">Net cash provided by operating activities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInOperatingActivities_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z918FEk5DZUl" style="width: 13%; text-align: right" title="Net cash provided by operating activities">16,559,104</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--NetCashProvidedByUsedInOperatingActivities_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zrKKPotpW898" style="width: 13%; text-align: right" title="Net cash provided by operating activities">6,587,712</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zZ4aRvOSIi" style="width: 13%; text-align: right" title="Net cash provided by operating activities">925,367</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Net cash used in investing activities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--NetCashProvidedByUsedInInvestingActivities_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zyDGCD41685f" style="text-align: right" title="Net cash used in investing activities">(488,536</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--NetCashProvidedByUsedInInvestingActivities_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zYDiX8gNX6wk" style="text-align: right" title="Net cash used in investing activities">(14,508,262</td><td style="text-align: left">) </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--NetCashProvidedByUsedInInvestingActivities_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zut8xsAYUfZa" style="text-align: right" title="Net cash used in investing activities">(2,037,964</td><td style="text-align: left">) </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Net cash used in financing activities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--NetCashProvidedByUsedInFinancingActivities_d0_c20230401__20240331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zvydWfAXuh0d" style="text-align: right" title="Net cash used in financing activities">(599,851</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--NetCashProvidedByUsedInFinancingActivities_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zGGRXihA48Oc" style="text-align: right" title="Net cash used in financing activities">(7,136,808</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInFinancingActivities_uUSD_c20240401__20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zkyNpy4tVSv9" style="text-align: right" title="Net cash used in financing activities">(1,002,502</td><td style="text-align: left">)</td></tr> </table>

33053253

32672916

4589536

65452439

57692272

8103986

41606354

109988114

15449939

-11565768

7334830

1030317

16559104

6587712

925367

-488536

-14508262

-2037964

-599851

-7136808

-1002502

7334830

1030317

-11565768

6587712

925367

16559104

-34800182

-4888353

-42354186

2. Summary of principal accounting policies (a) Basis of presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). (b) Emerging growth company The Group is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Group has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Group, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Group’s financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. (c) Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, the VIE and the VIE’s subsidiaries in which WFOE is the primary beneficiary. The results of the subsidiaries are consolidated from the date on which the Company obtained control and continues to be consolidated until the date that such control ceases. A controlling financial interest is typically determined when a company holds a majority of the voting equity interest in an entity. However, if the Company demonstrates its ability to control the VIE through power to govern the activities which most significantly impact the VIE’ economic performance and is obligated to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, then the entity is consolidated. All intercompany balances and transactions between the Company, its subsidiaries, the VIE and the VIE’s subsidiaries have been eliminated in consolidation. (d) Use of estimates In preparing the consolidated financial statements in conformity U.S. GAAP, the management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These accounting estimates used in the preparation of the consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. These estimates are based on management’s best available information including current events, historical experience, actions that the company may undertake in the future and on various other assumptions that are believed to be reasonable under the circumstances. Significant estimates required to be made by management include, but are not limited to, assessment of the expected credit losses for financial assets, valuation of inventories, useful lives of property and equipment, the recoverability of long-lived assets, impairment of goodwill, realization of deferred tax assets, and implicit interest rate of operating leases. As a result, actual results may be different from these estimates. (e) Functional currency and foreign currency translation The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its overseas subsidiaries which incorporated in the Cayman Islands is US Dollar (“USD”). The functional currency of the Company’s subsidiary which incorporated in Hong Kong is Hong Kong Dollar (“HK$”). The functional currency of the Company’s VIE and the VIE’s subsidiaries which are incorporated in PRC is RMB. In the consolidated financial statements, the financial information of the Company and other entities located outside of PRC has been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the periods. Translation adjustments are reported as foreign currency translation adjustments and are shown as a component of other comprehensive losses in the consolidated statements of operations and comprehensive income(loss), if any. Transactions denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing at the balance sheet date. (f) Convenience Translation The Group’s business is primarily conducted in China and all of the revenues are denominated in RMB. However, periodic reports made to shareholders will include current period amounts translated into US dollars using the exchange rate as of balance sheet date, for the convenience of the readers. Translations of balances in the consolidated balance sheets and the related consolidated statements of operations, change in equity and cash flows from Renminbi (“RMB”) into US dollars as of and for the fiscal year ended March 31, 2025 are solely for the convenience of the readers and were calculated at the rate of USD1.00=RMB7.119 representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2025. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate on September 30, 2025, or at any other rate. (g) Non-controlling interests Non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. There is RMB219,174 (US$30,789) and nil of non-controlling interests recognized by the Company as of March 31, 2025 and 2024, respectively. (h) Fair value of financial instruments The Company, its wholly-owned subsidiaries, VIE and the VIE’s subsidiaries adopted the guidance of ASC 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="width: 4%; text-align: justify"> </td> <td style="vertical-align: top; width: 4%; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.</td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 2 — Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.</td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 3 — Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.</td></tr> </table> The carrying amounts reported in the balance sheets of cash and cash equivalents, prepayments and other current assets, accrued expenses and other current liabilities, approximate their fair value based on the short-term maturity of these instruments. The Group did not have any non-financial assets or liabilities that are measured at fair value on a recurring basis as of March 31, 2025 and 2024. (i) Cash and cash equivalents Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less. (j) Short-term investment Short-term investment consists primarily of investments in fixed deposits with original maturities with three years that the Company has the intention to redeem within one year. (k) Allowance for credit losses The Group records allowance for credit losses under ASC 326 based on assessment of the recoverability of the receivables and individual accounts analysis, including the current creditworthiness and the past collection history of each customer. The Group considers many factors in assessing the expected credit losses model, such as size, the age of the accounts, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts, along with reasonable and supportable future economic conditions as a basis to develop the Group’s expected loss estimates, in combination with assessing receivable collectability on an individual basis, and applying current situation adjustment. Account balances are charged off against the allowance after all means of collection have been exhausted and the likelihood of collection is not probable. There is no allowance for credit losses recognized as of March 31, 2025 and 2024, respectively. (l) Inventories Inventories are stated at the lower of cost or market value. Costs include the cost of products purchased from third party suppliers. The cost of inventories is calculated using the weighted average method. Any excess of the cost over the net realizable value of each item of inventories is recognized as a provision for diminution in the value of inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to complete and sell products. Allowances for obsolescence are also assessed based on expiration dates, as applicable, taking into consideration historical and expected future product sales. (m) Property and equipment, net Property and equipment are recorded at cost net of accumulated depreciation and impairment losses. Gains and losses on disposal of property and equipment are included in other income, net. Significant additions or improvements extending useful lives of assets are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method over the useful lives of the assets are as follows: <table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfEstimatedUsefulLivesTableTextBlock_zfVdV6GCDBBg" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Summary of principal accounting policies (Details)"> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Schedule of estimated useful lives</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"> </td></tr> <tr> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 71%; text-align: justify">Category</td> <td style="width: 1%; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 28%; text-align: center">Estimated useful lives</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Leasehold Improvement</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zIqwPRding64">2-<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zEA9zsPNtwy4">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Electronic equipment </td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center">3 years</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Office furniture</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zXW4aDg4sUwk">3-<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zNZV6MFVLn56">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Vehicle</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center">4 years</td></tr> </table> (n) Goodwill Goodwill represents the excess of purchase price over fair value of the identifiable net assets of businesses acquired in a business combination. Goodwill is not amortized and the Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20, Intangibles-Goodwill and Other: Goodwill (“ASC 350-20”), which requires goodwill to be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20. The impairment test is performed as of year-end or if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount by comparing the fair value of a reporting unit with its carrying value. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not impaired and no further testing is required. If the fair value of the reporting unit is less than the carrying value, an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The impairment review is highly judgmental and involves the use of significant estimates and assumptions. These estimates and assumptions have a significant impact on the amount of any impairment charge recorded. Estimates of fair value are primarily determined by using discounted cash flows. Discounted cash flows method is dependent upon assumptions of future sales trends, market conditions and cash flows of each reporting unit over several years. Actual cash flows in the future may differ significantly from those previously forecasted. Other significant assumptions include growth rates and the discount rate applicable to future cash flows. (o) Impairment of long-lived assets The Group evaluates its long-lived assets, including plant and equipment and right-of-use assets with finite lives, for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of an asset may not be fully recoverable. When these events occur, the Group evaluates the recoverability of long-lived assets by comparing the carrying amounts of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amounts of the assets, the Group recognizes an impairment loss based on the excess of the carrying amounts of the assets over their fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. As of March 31, 2025 and 2024, there was no impairment of long-lived assets. (p) Deferred offering costs In accordance with ASC 340-10-S99-1 and SEC Accounting Bulletin Topic 5A, specific incremental costs incurred by the Group directly attributable to a proposed initial public offering have been deferred and will be charged against the gross proceeds of the offering. These offering costs include fees paid to underwriters, attorneys, financial consultants as well as printers and other third parties directly related to the offering. Costs such as management salaries or other general administrative expenses that are not incremental to the offering are not included in the deferred costs. If the proposed initial public offering is no longer probable of occurring, the deferred costs will be expensed at that time. The balance of deferred offering costs recognized as at the year ended March 31, 2025 and 2024 were RMB3,781,659 (US$531,206) and RMB1,599,851, respectively. (q) Lease The Group accounted for leases in accordance with ASC Topic 842, Leases. The Group determines if an arrangement is a lease at inception. All the Group’s leases are operating leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate (“IBR”) based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and includes initial direct costs incurred. The Group’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expenses for minimum lease payments are recognized on a straight-line basis over the lease term. All operating lease right-of-use assets are reviewed for impairment annually. There was no impairment for operating lease right-of-use lease assets for the years ended March 31, 2025 and 2024. The Group elected not to record assets and liabilities on its consolidated balance sheet for lease arrangements with terms of 12 months or less. The Group recognizes lease expenses for such lease on a straight-line basis over the lease term. (r) Revenue recognition ASC 606, Revenue from Contracts with customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. ASC 606 requires the use of a five-step model to recognize revenue from customer contracts. The five-step model requires that the Group (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Group satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Group records its revenue. The Group has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that would result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Group concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams. The following table sets forth a breakdown of our revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_zL4YpIKDo7X7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Schedule of breakdown of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 35%; text-align: left">Sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_c20230401__20240331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zo8ArsZCRlo7" style="width: 10%; text-align: right" title="Total revenue">41,592,608</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zQ5zV8J0eai4">99.9</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zC80J9a26X1k" style="width: 10%; text-align: right" title="Total revenue">7,100,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_znzqA6ja95se" style="width: 10%; text-align: right" title="Total revenue">997,378</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zN6XVj4JIbK6">6.5</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">DAKA merchant membership services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zkigsFnBiHp8" style="text-align: right" title="Total revenue">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z4BTlYIaVS0k">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zqocXQ3xaHI8" style="text-align: right" title="Total revenue">102,653,093</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zXcvx4pWUBK3" style="text-align: right" title="Total revenue">14,419,594</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zbJD6vOnuw68">93.3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20230401__20240331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zSoeGmqRdzqk" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">13,746</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_znXaPxpCcq5e">0.1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zRBLv8VW3dG5" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">234,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zXKAFJnv8q9l" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">32,967</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zRCJFJhl7dg3">0.2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_c20230401__20240331_zfhilp3O0qph" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">41,606,354</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zlzOFe2GF3xh">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--Revenues_c20240401__20250331_z0diXcf9GKM5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">109,988,114</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20240401__20250331_zm3dAfjBb8b5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">15,449,939</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zD3dhtfiRqfg">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Sports-related product sales The Group accounts for the revenue generated from sales of its products on a gross basis as the Group is acting as a principal in these transactions. The Group is subject to inventory risk, has latitude in establishing prices, and is responsible for fulfilling the promise to provide customers the specified goods, therefore, the Group obtains control of the goods and has the ability to direct the use of goods to obtain substantially all the benefits. All of the Group’s contracts have one single performance obligation as the promise is to transfer the individual goods to customers, and there are no separately identifiable other promises in the contracts. The Group offers customer warranty of 30 days for defective products that is beyond contemplated defective rate mutually agreed in contract with customers normally. The Group analyzed historical refund claims for defective products and concluded that they have been immaterial. The Group’s revenue streams are recognized at a point in time when title and risk of loss passes and the customer accepts the goods, which generally occurs at receipt. Revenue is reported net of all value added taxes (“VAT”). DAKA merchant membership service revenue For services provided, as a principal, the Group charges its business partners (and/or their authorized distributors) of DAKA Lifestyle Stores a combination of fixed fees based on the number of orders fulfilled or other factors. Revenue generated from some IT solutions such as one-time payment system setup service is recognized at a point in time when the services are rendered. Revenue generated from services relating to offline and online store operation, digital marketing, customer services, and fulfillment are recognized over the service term in the amount including fixed fees and/or variable fees to which the Group has the right to invoice. The following table sets forth a breakdown of the Company’s DAKA merchant membership service revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_886_ecustom--DisaggregationOfRevenue2TableTextBlock_zdWWlHMoazEf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">Breakdown of DAKA revenues</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Years Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">DAKA merchant membership service revenue</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Technical service related to smart devices revenue</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zeIyjtqHHfP1" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zXV3ZOQcZT1i">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zpM62SL9D0X2" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">52,880,190</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zyO8AOr4XGEl" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">7,428,036</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zIKD8osYwwU8">51.5</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Set-up fee revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zTrUDiUSNVBj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zztvN7cGf8Y7">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zpBQtz3dT6Qa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">49,188,679</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zxKBvyV5aZo3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">6,909,493</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zWL2ePfJmTH8">47.9</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization revenue</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zoGbzxXkgpg1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zv7UB5Amh6w9">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zyKCJEEQVLPa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">584,224</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zw8unK5xOgY8" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">82,065</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zmYj37HeZse8">0.6</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total DAKA merchant membership service revenue</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zDtrYIICmbK5" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zGFqXJBo8Hhg">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z5pMr2C13NUg" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">102,653,093</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zraTu4GODDG9" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">14,419,594</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z7asagTx5cH8">100.0</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company’s DAKA merchant membership service agreements are on a fixed rate basis, which include fixed brand license fee, system setup service, and equipment supply, etc. The Company recognizes technical service related to smart devices revenue and set-up fee revenue upon the satisfaction of its performance obligation (satisfaction of its performance obligation (upon transfer of control of promised smart devices with acceptance of customers and the completeness of set-up services to customers (for example, the delivery of renovation drawings accepted and delivered to customers)) in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those goods or services, excluding amounts collected on behalf of third parties (for example, value added taxes). The contract typically contains multiple distinct performance obligations (e.g., setup services, equipment supply, and ongoing support). The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer. For example, the setup services (such as site design and floor plans, etc.) represent a distinct performance obligation because the customer can benefit from them on their own. This is demonstrated by the contractual right for the customer to independently use these design outputs to hire third-party contractors for construction. The services are separately identifiable as they are completed prior to and are not highly integrated with subsequent ongoing support or equipment provisioning, requiring specialized expertise and transferring discrete value to the customer upon delivery and acceptance of the design deliverables. The transaction price is allocated to each performance obligation based on its standalone selling price without any variable considerations. The Company provides the customers with an exclusive right to operate in a designated region and maintains a stand-ready obligation to support platform operations, supply chain management, and related services. The performance obligation is satisfied over the contractual term when the customers simultaneously receive and consume the benefits of the exclusive rights and platform support. Exclusive regional agency authorization revenue is recognized over the authorization contract period. The authorization fee is paid in full upon contract execution. Revenues from such arrangements are recognized on a straight-line basis over the contractual term. Principal versus agent considerations For all the services provided, the Company considers itself the principal and recognizes revenue on a gross basis as it controls the services through the following key considerations: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: center"> </td> <td style="width: 24px">·</td> <td>The Company reserves the right to accept or reject the contracts or orders with the customers without involvement of the third parties and directs the selected third parties to provide services to the customers on the Company’s behalf. There is no direct cooperation relationship between third parties and the customers. There is no difference in the Company’s arrangements with the customers whether the Company utilizes its employees, third parties, or a combination of both. The Company is the principal and primarily responsible for fulfilling the promise to provide services to its customers in the arrangement and its principal purpose is to satisfy its performance obligations to the customers by providing DAKA merchant membership service itself or by engaging the third-party suppliers on behalf of the Company. The Company assumes responsibility for receiving and resolving the complaints over the quality of the services. If the third-party service providers fail to deliver their work and thus affect the Company’s performance obligation to customers, the Company should bear the loss of the customers for breach of contract on its own, and then independently claim for compensation from third-party service providers for its loss. </td></tr> <tr style="vertical-align: top"> <td style="text-align: center"> </td> <td>·</td> <td style="text-align: justify">The Company utilizes both its employees and third parties to provide services to customers. The Company has discretion in setting up the price with third party suppliers. The third parties involved are entitled to a fixed services fee agreed upon in advance irrespective of the consideration the Company collects from the customers.</td></tr> <tr style="vertical-align: top"> <td style="text-align: center"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: center"> </td> <td>·</td> <td style="text-align: justify">The Company bears the credit risk as the Company pays the consideration due to third parties irrespective of whether the customers have paid the services consideration to the Company.</td></tr> </table> Contract Balances When either party to a contract has performed, the Group presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before a payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are subject to impairment assessment. A contract liability is recognized when a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognized as revenue when the Group performs under the contract. As of March 31, 2025 and 2024, contract liabilities amounted to RMB10,502,722 (US$1,475,309) and RMB27,893,632, respectively, were primarily presented as “Advances to customers” on the consolidated balance sheets. Revenue recognized that was included in contract liabilities at the beginning of the period was RMB27,893,632 (US$3,918,195) and RMB1,082,404 for the years ended March 31, 2025 and 2024, respectively. (s) Cost of revenues Cost of revenue consists primarily of the purchase costs incurred in sports-related products sales and referral service cost to the suppliers which is directly attributable to the Group’s principal operations. The following table sets forth a breakdown of cost of revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_892_ecustom--CostOfRevenuesTableTextBlock_zKUp56fxAIkd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Schedule of breakdown of cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Cost of revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 35%; text-align: left">Cost of sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--CostOfRevenue_c20230401__20240331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_z8BqWD0r5IGc" style="width: 10%; text-align: right" title="Total cost of revenue">22,230,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zOqQ4AZb2Mkj">99.8</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zh0VzPfJgsR9" style="width: 10%; text-align: right" title="Total cost of revenue">3,289,735</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zrwiU0KpaRYc" style="width: 10%; text-align: right" title="Total cost of revenue">462,106</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zgW5I9cpV018">8.6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">DAKA merchant membership service cost</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zMzpcDrNGIlg" style="text-align: right" title="Total cost of revenue">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zaS9tCk6U4Lc">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zoRvXJ8UbjV1" style="text-align: right" title="Total cost of revenue">34,877,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zmLMF7sjgfUf" style="text-align: right" title="Total cost of revenue">4,899,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zK8Q0Dob3WA9">91.0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_c20230401__20240331__srt--ProductOrServiceAxis__custom--OtherCostMember_zNwlDaovPQof" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">34,574</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_z3a8Mgjybds4">0.2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherCostMember_zrNLdM5T6F53" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">146,871</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherCostMember_zM8ZFoVAZT15" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">20,631</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zCqCdKTURNC5">0.4</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_c20230401__20240331_z53MDKVsWURa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">22,264,972</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_zw1JnqeqFQ04">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20250331_zfIGbfa1W2M7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">38,314,009</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331_zBYgmzvFCcr2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">5,381,937</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_z981TsbEOiVf">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table sets forth a breakdown of the Company’s DAKA merchant membership service costs for the periods presented: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Years Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">DAKA merchant membership service costs</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Cost of technical service related to smart devices</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zW3Ig9AFqdM6" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_z7iBSDpnleAl">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_z8pvgkBsPy97" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">16,106,477</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zz5vaD1ndLxh" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">2,262,464</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zwdCQe3pwArc">46.2</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Set-up cost</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zsfV0R2dz98l" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zlNLTvU0C8ab">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z8veSfx0d4Ib" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">18,770,926</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zeKhjdm237tj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">2,636,736</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zuH2rEWn6Uhj">53.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization cost</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zwU0gBw0A4zl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zkheuIY7OpKc">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--CostOfRevenue_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zChS43egQUBl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--CostOfRevenue_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zl3cQHQjGwJ7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zGBQ1SSDFixk">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total cost of DAKA merchant membership service</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zDxlNj92omQd" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zyI3C5QdjLU7">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zWCNPizsBMu9" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">34,877,403</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_z0M16GW9qq6j" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">4,899,200</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zzi1RjihUZP8">100.0</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> (t) Research and development expenses Research and development expenses mainly consist of (i) payroll expenses, (ii) technologies services expenses related to platform development and data analysis to support the Group’s business operations, (iii) other expenses related to research and development functions. Research and development expenses are expensed as incurred. (u) Selling and marketing expenses Selling and marketing expenses consist primarily of staff costs, promotion expense, accrued credit points for online store consumption and other related incidental expenses that are incurred to conduct the Company’s sales and marketing activities. (v) General and administrative expenses General and administrative expenses consist primarily of salaries, services charges, depreciation of property and equipment, amortization of operating leasing assets, professional services fees, rental and other general corporate related expenses. (w) Employee benefits Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions made. The total amounts of such employee benefit expenses, which were expensed as incurred, were approximately RMB1,029,354 (US$144,592) and RMB654,722 for the years ended March 31, 2025 and 2024, respectively. (x) Taxation Income taxes Current income taxes are provided on the basis of income/loss for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are provided using the assets and liabilities method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statement of income and comprehensive income in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more-likely-than-not that some portion of, or all of the deferred tax assets will not be realized. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Group considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group considers possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry. Value added tax Revenue represents the invoiced value of goods and services, net of VAT. The VAT is based on gross sales price with VAT rates of 3% and 6%, depending on the type of products sold. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in taxes payable or other current assets. All of the VAT returns filed by the Group’s subsidiaries in PRC remain subject to examination by the tax authorities for five years from the date of filing. Uncertain tax positions The Group applies the provisions of ASC topic 740 (“ASC 740”), Accounting for Income Taxes, to account for uncertainty in income taxes. ASC 740 prescribes a recognition threshold a tax position is required to meet before being recognized in the financial statements. The benefit of a tax position is recognized if a tax return position or future tax position is “more likely than not” to be sustained under examination based solely on the technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured, using a cumulative probability approach, at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The estimated liability for unrecognized tax benefits are periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, changes and or developments with respect to tax audits, and the expiration of the statute of limitations. Additionally, in future periods, changes in facts and circumstances, and new information may require the Group to adjust the recognition and measurement of estimates with regards to changes in individual tax position. Changes in recognition and measurement of estimates are recognized in the period which the change occurs. The Group’s operating subsidiaries in PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB100,000 (US$14,047). In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. (y) Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation. (z) Statutory reserves Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”)). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Group has accumulated losses from prior periods, the Group is able to use the current period net profit after tax to offset against the accumulated loss. For the years ended March 31, 2025 and 2024, profit appropriation to statutory surplus fund for the Group’s entities incorporated in the PRC was both nil. No appropriation to other reserve funds was made for any of the periods presented. (aa) Comprehensive income (loss) The Group has adopted FASB Accounting Standard Codification Topic 220 (“ASC 220”) “Comprehensive income”, which establishes standards for reporting and the presentation of comprehensive income (loss), its components and accumulated balances. There was no other comprehensive loss for the years ended March 31, 2025 and 2024. (ab) Segment Reporting ASC 280 establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Based on the criteria established by ASC 280, the Group’s CODM has been identified as the Group’s Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing the performance of the Group. As a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s long-lived assets are substantially located in the PRC, no geographical segments are presented. (ac) Commitments and contingencies In the normal course of business, the Group is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the consolidated financial statements. If the assessment indicates that a potential loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. (ad) Recently issued accounting pronouncements In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires specific disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will result in the required additional disclosures being included in the consolidated financial statements, once adopted. The Group adopted this standard since March 31, 2024. . In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280)” (“ASU 2023-07”). The amendments in ASU 2023-07 improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision useful financial analyses. Topic 280 requires a public entity to report a measure of segment profit or loss that the chief operating decision maker (CODM) uses to assess segment performance and make decisions about allocating resources. Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization, and depletion expense, to be disclosed under certain circumstances. The amendments in ASU 202307 do not change or remove those disclosure requirements. The amendments in ASU 2023-07 also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in ASU 2023-07 are effective for years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, adopted retrospectively. The Group considers that the guidance will not have a significant impact on the disclosures set out in these consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Improvements to expense disaggregation disclosures (Subtopic 220-40). During the FASB’s 2021 agenda consultation and other outreach, investors observed that expense information is critically important in understanding a company’s performance, assessing its prospects for future cash flows, and comparing its performance over time and with that of other companies. They indicated that more granular expense information would assist them in better understanding an entity’s cost structure and forecasting future cash flows. The ASU addresses this feedback by requiring public companies to disclose, in the notes to financial statements, specified information about certain costs and expenses at each interim and annual reporting period. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated balance sheets, statements of operation and comprehensive income, and statements of cash flows.

(a) Basis of presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”).

(b) Emerging growth company The Group is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Group has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Group, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Group’s financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

(c) Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, the VIE and the VIE’s subsidiaries in which WFOE is the primary beneficiary. The results of the subsidiaries are consolidated from the date on which the Company obtained control and continues to be consolidated until the date that such control ceases. A controlling financial interest is typically determined when a company holds a majority of the voting equity interest in an entity. However, if the Company demonstrates its ability to control the VIE through power to govern the activities which most significantly impact the VIE’ economic performance and is obligated to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, then the entity is consolidated. All intercompany balances and transactions between the Company, its subsidiaries, the VIE and the VIE’s subsidiaries have been eliminated in consolidation.

(d) Use of estimates In preparing the consolidated financial statements in conformity U.S. GAAP, the management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These accounting estimates used in the preparation of the consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. These estimates are based on management’s best available information including current events, historical experience, actions that the company may undertake in the future and on various other assumptions that are believed to be reasonable under the circumstances. Significant estimates required to be made by management include, but are not limited to, assessment of the expected credit losses for financial assets, valuation of inventories, useful lives of property and equipment, the recoverability of long-lived assets, impairment of goodwill, realization of deferred tax assets, and implicit interest rate of operating leases. As a result, actual results may be different from these estimates.

(e) Functional currency and foreign currency translation The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its overseas subsidiaries which incorporated in the Cayman Islands is US Dollar (“USD”). The functional currency of the Company’s subsidiary which incorporated in Hong Kong is Hong Kong Dollar (“HK$”). The functional currency of the Company’s VIE and the VIE’s subsidiaries which are incorporated in PRC is RMB. In the consolidated financial statements, the financial information of the Company and other entities located outside of PRC has been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the periods. Translation adjustments are reported as foreign currency translation adjustments and are shown as a component of other comprehensive losses in the consolidated statements of operations and comprehensive income(loss), if any. Transactions denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing at the balance sheet date.

(f) Convenience Translation The Group’s business is primarily conducted in China and all of the revenues are denominated in RMB. However, periodic reports made to shareholders will include current period amounts translated into US dollars using the exchange rate as of balance sheet date, for the convenience of the readers. Translations of balances in the consolidated balance sheets and the related consolidated statements of operations, change in equity and cash flows from Renminbi (“RMB”) into US dollars as of and for the fiscal year ended March 31, 2025 are solely for the convenience of the readers and were calculated at the rate of USD1.00=RMB7.119 representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2025. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate on September 30, 2025, or at any other rate.

the convenience of the readers and were calculated at the rate of USD1.00=RMB7.119

(g) Non-controlling interests Non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. There is RMB219,174 (US$30,789) and nil of non-controlling interests recognized by the Company as of March 31, 2025 and 2024, respectively.

-219174

-30789

(h) Fair value of financial instruments The Company, its wholly-owned subsidiaries, VIE and the VIE’s subsidiaries adopted the guidance of ASC 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="width: 4%; text-align: justify"> </td> <td style="vertical-align: top; width: 4%; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.</td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 2 — Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.</td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 3 — Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.</td></tr> </table> The carrying amounts reported in the balance sheets of cash and cash equivalents, prepayments and other current assets, accrued expenses and other current liabilities, approximate their fair value based on the short-term maturity of these instruments. The Group did not have any non-financial assets or liabilities that are measured at fair value on a recurring basis as of March 31, 2025 and 2024.

(i) Cash and cash equivalents Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less.

(j) Short-term investment Short-term investment consists primarily of investments in fixed deposits with original maturities with three years that the Company has the intention to redeem within one year. (k) Allowance for credit losses The Group records allowance for credit losses under ASC 326 based on assessment of the recoverability of the receivables and individual accounts analysis, including the current creditworthiness and the past collection history of each customer. The Group considers many factors in assessing the expected credit losses model, such as size, the age of the accounts, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts, along with reasonable and supportable future economic conditions as a basis to develop the Group’s expected loss estimates, in combination with assessing receivable collectability on an individual basis, and applying current situation adjustment. Account balances are charged off against the allowance after all means of collection have been exhausted and the likelihood of collection is not probable. There is no allowance for credit losses recognized as of March 31, 2025 and 2024, respectively.

(l) Inventories Inventories are stated at the lower of cost or market value. Costs include the cost of products purchased from third party suppliers. The cost of inventories is calculated using the weighted average method. Any excess of the cost over the net realizable value of each item of inventories is recognized as a provision for diminution in the value of inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to complete and sell products. Allowances for obsolescence are also assessed based on expiration dates, as applicable, taking into consideration historical and expected future product sales.

(m) Property and equipment, net Property and equipment are recorded at cost net of accumulated depreciation and impairment losses. Gains and losses on disposal of property and equipment are included in other income, net. Significant additions or improvements extending useful lives of assets are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method over the useful lives of the assets are as follows: <table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfEstimatedUsefulLivesTableTextBlock_zfVdV6GCDBBg" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Summary of principal accounting policies (Details)"> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Schedule of estimated useful lives</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"> </td></tr> <tr> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 71%; text-align: justify">Category</td> <td style="width: 1%; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 28%; text-align: center">Estimated useful lives</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Leasehold Improvement</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zIqwPRding64">2-<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zEA9zsPNtwy4">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Electronic equipment </td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center">3 years</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Office furniture</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zXW4aDg4sUwk">3-<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zNZV6MFVLn56">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Vehicle</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center">4 years</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfEstimatedUsefulLivesTableTextBlock_zfVdV6GCDBBg" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Summary of principal accounting policies (Details)"> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Schedule of estimated useful lives</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"> </td></tr> <tr> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 71%; text-align: justify">Category</td> <td style="width: 1%; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 28%; text-align: center">Estimated useful lives</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Leasehold Improvement</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zIqwPRding64">2-<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zEA9zsPNtwy4">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Electronic equipment </td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center">3 years</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Office furniture</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zXW4aDg4sUwk">3-<span id="xdx_90B_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250331__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zNZV6MFVLn56">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Vehicle</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: center">4 years</td></tr> </table>

P2Y

P5Y

P3Y

P5Y

P4Y

(n) Goodwill Goodwill represents the excess of purchase price over fair value of the identifiable net assets of businesses acquired in a business combination. Goodwill is not amortized and the Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20, Intangibles-Goodwill and Other: Goodwill (“ASC 350-20”), which requires goodwill to be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20. The impairment test is performed as of year-end or if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount by comparing the fair value of a reporting unit with its carrying value. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not impaired and no further testing is required. If the fair value of the reporting unit is less than the carrying value, an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The impairment review is highly judgmental and involves the use of significant estimates and assumptions. These estimates and assumptions have a significant impact on the amount of any impairment charge recorded. Estimates of fair value are primarily determined by using discounted cash flows. Discounted cash flows method is dependent upon assumptions of future sales trends, market conditions and cash flows of each reporting unit over several years. Actual cash flows in the future may differ significantly from those previously forecasted. Other significant assumptions include growth rates and the discount rate applicable to future cash flows.

(o) Impairment of long-lived assets The Group evaluates its long-lived assets, including plant and equipment and right-of-use assets with finite lives, for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of an asset may not be fully recoverable. When these events occur, the Group evaluates the recoverability of long-lived assets by comparing the carrying amounts of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amounts of the assets, the Group recognizes an impairment loss based on the excess of the carrying amounts of the assets over their fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. As of March 31, 2025 and 2024, there was no impairment of long-lived assets.

(p) Deferred offering costs In accordance with ASC 340-10-S99-1 and SEC Accounting Bulletin Topic 5A, specific incremental costs incurred by the Group directly attributable to a proposed initial public offering have been deferred and will be charged against the gross proceeds of the offering. These offering costs include fees paid to underwriters, attorneys, financial consultants as well as printers and other third parties directly related to the offering. Costs such as management salaries or other general administrative expenses that are not incremental to the offering are not included in the deferred costs. If the proposed initial public offering is no longer probable of occurring, the deferred costs will be expensed at that time. The balance of deferred offering costs recognized as at the year ended March 31, 2025 and 2024 were RMB3,781,659 (US$531,206) and RMB1,599,851, respectively.

3781659

531206

1599851

(q) Lease The Group accounted for leases in accordance with ASC Topic 842, Leases. The Group determines if an arrangement is a lease at inception. All the Group’s leases are operating leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate (“IBR”) based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and includes initial direct costs incurred. The Group’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expenses for minimum lease payments are recognized on a straight-line basis over the lease term. All operating lease right-of-use assets are reviewed for impairment annually. There was no impairment for operating lease right-of-use lease assets for the years ended March 31, 2025 and 2024. The Group elected not to record assets and liabilities on its consolidated balance sheet for lease arrangements with terms of 12 months or less. The Group recognizes lease expenses for such lease on a straight-line basis over the lease term.

(r) Revenue recognition ASC 606, Revenue from Contracts with customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. ASC 606 requires the use of a five-step model to recognize revenue from customer contracts. The five-step model requires that the Group (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Group satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Group records its revenue. The Group has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that would result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Group concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams. The following table sets forth a breakdown of our revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_zL4YpIKDo7X7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Schedule of breakdown of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 35%; text-align: left">Sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_c20230401__20240331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zo8ArsZCRlo7" style="width: 10%; text-align: right" title="Total revenue">41,592,608</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zQ5zV8J0eai4">99.9</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zC80J9a26X1k" style="width: 10%; text-align: right" title="Total revenue">7,100,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_znzqA6ja95se" style="width: 10%; text-align: right" title="Total revenue">997,378</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zN6XVj4JIbK6">6.5</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">DAKA merchant membership services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zkigsFnBiHp8" style="text-align: right" title="Total revenue">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z4BTlYIaVS0k">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zqocXQ3xaHI8" style="text-align: right" title="Total revenue">102,653,093</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zXcvx4pWUBK3" style="text-align: right" title="Total revenue">14,419,594</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zbJD6vOnuw68">93.3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20230401__20240331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zSoeGmqRdzqk" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">13,746</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_znXaPxpCcq5e">0.1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zRBLv8VW3dG5" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">234,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zXKAFJnv8q9l" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">32,967</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zRCJFJhl7dg3">0.2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_c20230401__20240331_zfhilp3O0qph" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">41,606,354</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zlzOFe2GF3xh">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--Revenues_c20240401__20250331_z0diXcf9GKM5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">109,988,114</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20240401__20250331_zm3dAfjBb8b5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">15,449,939</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zD3dhtfiRqfg">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Sports-related product sales The Group accounts for the revenue generated from sales of its products on a gross basis as the Group is acting as a principal in these transactions. The Group is subject to inventory risk, has latitude in establishing prices, and is responsible for fulfilling the promise to provide customers the specified goods, therefore, the Group obtains control of the goods and has the ability to direct the use of goods to obtain substantially all the benefits. All of the Group’s contracts have one single performance obligation as the promise is to transfer the individual goods to customers, and there are no separately identifiable other promises in the contracts. The Group offers customer warranty of 30 days for defective products that is beyond contemplated defective rate mutually agreed in contract with customers normally. The Group analyzed historical refund claims for defective products and concluded that they have been immaterial. The Group’s revenue streams are recognized at a point in time when title and risk of loss passes and the customer accepts the goods, which generally occurs at receipt. Revenue is reported net of all value added taxes (“VAT”). DAKA merchant membership service revenue For services provided, as a principal, the Group charges its business partners (and/or their authorized distributors) of DAKA Lifestyle Stores a combination of fixed fees based on the number of orders fulfilled or other factors. Revenue generated from some IT solutions such as one-time payment system setup service is recognized at a point in time when the services are rendered. Revenue generated from services relating to offline and online store operation, digital marketing, customer services, and fulfillment are recognized over the service term in the amount including fixed fees and/or variable fees to which the Group has the right to invoice. The following table sets forth a breakdown of the Company’s DAKA merchant membership service revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_886_ecustom--DisaggregationOfRevenue2TableTextBlock_zdWWlHMoazEf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">Breakdown of DAKA revenues</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Years Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">DAKA merchant membership service revenue</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Technical service related to smart devices revenue</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zeIyjtqHHfP1" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zXV3ZOQcZT1i">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zpM62SL9D0X2" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">52,880,190</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zyO8AOr4XGEl" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">7,428,036</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zIKD8osYwwU8">51.5</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Set-up fee revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zTrUDiUSNVBj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zztvN7cGf8Y7">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zpBQtz3dT6Qa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">49,188,679</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zxKBvyV5aZo3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">6,909,493</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zWL2ePfJmTH8">47.9</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization revenue</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zoGbzxXkgpg1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zv7UB5Amh6w9">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zyKCJEEQVLPa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">584,224</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zw8unK5xOgY8" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">82,065</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zmYj37HeZse8">0.6</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total DAKA merchant membership service revenue</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zDtrYIICmbK5" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zGFqXJBo8Hhg">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z5pMr2C13NUg" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">102,653,093</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zraTu4GODDG9" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">14,419,594</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z7asagTx5cH8">100.0</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company’s DAKA merchant membership service agreements are on a fixed rate basis, which include fixed brand license fee, system setup service, and equipment supply, etc. The Company recognizes technical service related to smart devices revenue and set-up fee revenue upon the satisfaction of its performance obligation (satisfaction of its performance obligation (upon transfer of control of promised smart devices with acceptance of customers and the completeness of set-up services to customers (for example, the delivery of renovation drawings accepted and delivered to customers)) in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those goods or services, excluding amounts collected on behalf of third parties (for example, value added taxes). The contract typically contains multiple distinct performance obligations (e.g., setup services, equipment supply, and ongoing support). The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer. For example, the setup services (such as site design and floor plans, etc.) represent a distinct performance obligation because the customer can benefit from them on their own. This is demonstrated by the contractual right for the customer to independently use these design outputs to hire third-party contractors for construction. The services are separately identifiable as they are completed prior to and are not highly integrated with subsequent ongoing support or equipment provisioning, requiring specialized expertise and transferring discrete value to the customer upon delivery and acceptance of the design deliverables. The transaction price is allocated to each performance obligation based on its standalone selling price without any variable considerations. The Company provides the customers with an exclusive right to operate in a designated region and maintains a stand-ready obligation to support platform operations, supply chain management, and related services. The performance obligation is satisfied over the contractual term when the customers simultaneously receive and consume the benefits of the exclusive rights and platform support. Exclusive regional agency authorization revenue is recognized over the authorization contract period. The authorization fee is paid in full upon contract execution. Revenues from such arrangements are recognized on a straight-line basis over the contractual term. Principal versus agent considerations For all the services provided, the Company considers itself the principal and recognizes revenue on a gross basis as it controls the services through the following key considerations: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: center"> </td> <td style="width: 24px">·</td> <td>The Company reserves the right to accept or reject the contracts or orders with the customers without involvement of the third parties and directs the selected third parties to provide services to the customers on the Company’s behalf. There is no direct cooperation relationship between third parties and the customers. There is no difference in the Company’s arrangements with the customers whether the Company utilizes its employees, third parties, or a combination of both. The Company is the principal and primarily responsible for fulfilling the promise to provide services to its customers in the arrangement and its principal purpose is to satisfy its performance obligations to the customers by providing DAKA merchant membership service itself or by engaging the third-party suppliers on behalf of the Company. The Company assumes responsibility for receiving and resolving the complaints over the quality of the services. If the third-party service providers fail to deliver their work and thus affect the Company’s performance obligation to customers, the Company should bear the loss of the customers for breach of contract on its own, and then independently claim for compensation from third-party service providers for its loss. </td></tr> <tr style="vertical-align: top"> <td style="text-align: center"> </td> <td>·</td> <td style="text-align: justify">The Company utilizes both its employees and third parties to provide services to customers. The Company has discretion in setting up the price with third party suppliers. The third parties involved are entitled to a fixed services fee agreed upon in advance irrespective of the consideration the Company collects from the customers.</td></tr> <tr style="vertical-align: top"> <td style="text-align: center"> </td> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: center"> </td> <td>·</td> <td style="text-align: justify">The Company bears the credit risk as the Company pays the consideration due to third parties irrespective of whether the customers have paid the services consideration to the Company.</td></tr> </table> Contract Balances When either party to a contract has performed, the Group presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before a payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are subject to impairment assessment. A contract liability is recognized when a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognized as revenue when the Group performs under the contract. As of March 31, 2025 and 2024, contract liabilities amounted to RMB10,502,722 (US$1,475,309) and RMB27,893,632, respectively, were primarily presented as “Advances to customers” on the consolidated balance sheets. Revenue recognized that was included in contract liabilities at the beginning of the period was RMB27,893,632 (US$3,918,195) and RMB1,082,404 for the years ended March 31, 2025 and 2024, respectively.

<table cellpadding="0" cellspacing="0" id="xdx_890_eus-gaap--DisaggregationOfRevenueTableTextBlock_zL4YpIKDo7X7" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">Schedule of breakdown of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 35%; text-align: left">Sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_c20230401__20240331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zo8ArsZCRlo7" style="width: 10%; text-align: right" title="Total revenue">41,592,608</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zQ5zV8J0eai4">99.9</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zC80J9a26X1k" style="width: 10%; text-align: right" title="Total revenue">7,100,332</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_znzqA6ja95se" style="width: 10%; text-align: right" title="Total revenue">997,378</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zN6XVj4JIbK6">6.5</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-indent: -10pt; padding-left: 10pt; text-align: left">DAKA merchant membership services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zkigsFnBiHp8" style="text-align: right" title="Total revenue">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z4BTlYIaVS0k">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zqocXQ3xaHI8" style="text-align: right" title="Total revenue">102,653,093</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zXcvx4pWUBK3" style="text-align: right" title="Total revenue">14,419,594</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zbJD6vOnuw68">93.3</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20230401__20240331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zSoeGmqRdzqk" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">13,746</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_znXaPxpCcq5e">0.1</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zRBLv8VW3dG5" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">234,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zXKAFJnv8q9l" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">32,967</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zRCJFJhl7dg3">0.2</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_c20230401__20240331_zfhilp3O0qph" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">41,606,354</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zlzOFe2GF3xh">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--Revenues_c20240401__20250331_z0diXcf9GKM5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">109,988,114</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20240401__20250331_zm3dAfjBb8b5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">15,449,939</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zD3dhtfiRqfg">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

41592608

0.999

7100332

997378

0.065

102653093

14419594

0.933

13746

0.001

234689

32967

0.002

41606354

1.000

109988114

15449939

1.000

<table cellpadding="0" cellspacing="0" id="xdx_886_ecustom--DisaggregationOfRevenue2TableTextBlock_zdWWlHMoazEf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">Breakdown of DAKA revenues</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Years Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">DAKA merchant membership service revenue</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Technical service related to smart devices revenue</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zeIyjtqHHfP1" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zXV3ZOQcZT1i">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zpM62SL9D0X2" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">52,880,190</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zyO8AOr4XGEl" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total revenue">7,428,036</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zIKD8osYwwU8">51.5</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Set-up fee revenue</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zTrUDiUSNVBj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zztvN7cGf8Y7">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zpBQtz3dT6Qa" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">49,188,679</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zxKBvyV5aZo3" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">6,909,493</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zWL2ePfJmTH8">47.9</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization revenue</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zoGbzxXkgpg1" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zv7UB5Amh6w9">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_eus-gaap--Revenues_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zyKCJEEQVLPa" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">584,224</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zw8unK5xOgY8" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">82,065</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zmYj37HeZse8">0.6</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total DAKA merchant membership service revenue</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zDtrYIICmbK5" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zGFqXJBo8Hhg">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z5pMr2C13NUg" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">102,653,093</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--Revenues_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zraTu4GODDG9" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total revenue">14,419,594</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z7asagTx5cH8">100.0</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

52880190

7428036

0.515

49188679

6909493

0.479

584224

82065

0.006

102653093

14419594

1.000

10502722

1475309

27893632

27893632 3918195 1082404 (s) Cost of revenues Cost of revenue consists primarily of the purchase costs incurred in sports-related products sales and referral service cost to the suppliers which is directly attributable to the Group’s principal operations. The following table sets forth a breakdown of cost of revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_892_ecustom--CostOfRevenuesTableTextBlock_zKUp56fxAIkd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Schedule of breakdown of cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Cost of revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 35%; text-align: left">Cost of sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--CostOfRevenue_c20230401__20240331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_z8BqWD0r5IGc" style="width: 10%; text-align: right" title="Total cost of revenue">22,230,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zOqQ4AZb2Mkj">99.8</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zh0VzPfJgsR9" style="width: 10%; text-align: right" title="Total cost of revenue">3,289,735</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zrwiU0KpaRYc" style="width: 10%; text-align: right" title="Total cost of revenue">462,106</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zgW5I9cpV018">8.6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">DAKA merchant membership service cost</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zMzpcDrNGIlg" style="text-align: right" title="Total cost of revenue">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zaS9tCk6U4Lc">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zoRvXJ8UbjV1" style="text-align: right" title="Total cost of revenue">34,877,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zmLMF7sjgfUf" style="text-align: right" title="Total cost of revenue">4,899,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zK8Q0Dob3WA9">91.0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_c20230401__20240331__srt--ProductOrServiceAxis__custom--OtherCostMember_zNwlDaovPQof" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">34,574</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_z3a8Mgjybds4">0.2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherCostMember_zrNLdM5T6F53" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">146,871</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherCostMember_zM8ZFoVAZT15" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">20,631</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zCqCdKTURNC5">0.4</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_c20230401__20240331_z53MDKVsWURa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">22,264,972</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_zw1JnqeqFQ04">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20250331_zfIGbfa1W2M7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">38,314,009</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331_zBYgmzvFCcr2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">5,381,937</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_z981TsbEOiVf">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table sets forth a breakdown of the Company’s DAKA merchant membership service costs for the periods presented: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Years Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">DAKA merchant membership service costs</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Cost of technical service related to smart devices</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zW3Ig9AFqdM6" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_z7iBSDpnleAl">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_z8pvgkBsPy97" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">16,106,477</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zz5vaD1ndLxh" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">2,262,464</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zwdCQe3pwArc">46.2</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Set-up cost</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zsfV0R2dz98l" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zlNLTvU0C8ab">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z8veSfx0d4Ib" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">18,770,926</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zeKhjdm237tj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">2,636,736</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zuH2rEWn6Uhj">53.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization cost</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zwU0gBw0A4zl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zkheuIY7OpKc">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--CostOfRevenue_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zChS43egQUBl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--CostOfRevenue_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zl3cQHQjGwJ7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zGBQ1SSDFixk">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total cost of DAKA merchant membership service</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zDxlNj92omQd" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zyI3C5QdjLU7">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zWCNPizsBMu9" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">34,877,403</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_z0M16GW9qq6j" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">4,899,200</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zzi1RjihUZP8">100.0</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_892_ecustom--CostOfRevenuesTableTextBlock_zKUp56fxAIkd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">Schedule of breakdown of cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Cost of revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 35%; text-align: left">Cost of sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--CostOfRevenue_c20230401__20240331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_z8BqWD0r5IGc" style="width: 10%; text-align: right" title="Total cost of revenue">22,230,398</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zOqQ4AZb2Mkj">99.8</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zh0VzPfJgsR9" style="width: 10%; text-align: right" title="Total cost of revenue">3,289,735</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zrwiU0KpaRYc" style="width: 10%; text-align: right" title="Total cost of revenue">462,106</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zgW5I9cpV018">8.6</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt">DAKA merchant membership service cost</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zMzpcDrNGIlg" style="text-align: right" title="Total cost of revenue">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zaS9tCk6U4Lc">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zoRvXJ8UbjV1" style="text-align: right" title="Total cost of revenue">34,877,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zmLMF7sjgfUf" style="text-align: right" title="Total cost of revenue">4,899,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zK8Q0Dob3WA9">91.0</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_c20230401__20240331__srt--ProductOrServiceAxis__custom--OtherCostMember_zNwlDaovPQof" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">34,574</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_z3a8Mgjybds4">0.2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherCostMember_zrNLdM5T6F53" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">146,871</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--OtherCostMember_zM8ZFoVAZT15" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">20,631</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zCqCdKTURNC5">0.4</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_c20230401__20240331_z53MDKVsWURa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">22,264,972</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_zw1JnqeqFQ04">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20250331_zfIGbfa1W2M7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">38,314,009</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331_zBYgmzvFCcr2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">5,381,937</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_z981TsbEOiVf">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table sets forth a breakdown of the Company’s DAKA merchant membership service costs for the periods presented: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">For the Years Ended March 31,</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">%</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left">DAKA merchant membership service costs</td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt"> </td> <td style="font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; text-align: right"> </td><td style="font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; width: 35%; text-align: left">Cost of technical service related to smart devices</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zW3Ig9AFqdM6" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_z7iBSDpnleAl">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_z8pvgkBsPy97" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">16,106,477</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zz5vaD1ndLxh" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Total cost of revenue">2,262,464</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--ServiceCostRelatedToSmartDevicesMember_zwdCQe3pwArc">46.2</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left">Set-up cost</td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zsfV0R2dz98l" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zlNLTvU0C8ab">–</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z8veSfx0d4Ib" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">18,770,926</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zeKhjdm237tj" style="font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">2,636,736</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zuH2rEWn6Uhj">53.8</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization cost</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zwU0gBw0A4zl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zkheuIY7OpKc">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98B_eus-gaap--CostOfRevenue_d0_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zChS43egQUBl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_982_eus-gaap--CostOfRevenue_d0_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zl3cQHQjGwJ7" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zGBQ1SSDFixk">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: bold 10pt Times New Roman, Times, Serif; text-align: left; padding-bottom: 2.5pt">Total cost of DAKA merchant membership service</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_d0_c20230401__20240331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zDxlNj92omQd" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp0_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zyI3C5QdjLU7">–</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zWCNPizsBMu9" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">34,877,403</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20240401__20250331__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_z0M16GW9qq6j" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total cost of revenue">4,899,200</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zzi1RjihUZP8">100.0</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

22230398

0.998

3289735

462106

0.086

34877403

4899200

0.910

34574

0.002

146871

20631

0.004

22264972

1.000

38314009

5381937

1.000

16106477

2262464

0.462

18770926

2636736

0.538

34877403

4899200

1.000

(t) Research and development expenses Research and development expenses mainly consist of (i) payroll expenses, (ii) technologies services expenses related to platform development and data analysis to support the Group’s business operations, (iii) other expenses related to research and development functions. Research and development expenses are expensed as incurred.

(u) Selling and marketing expenses Selling and marketing expenses consist primarily of staff costs, promotion expense, accrued credit points for online store consumption and other related incidental expenses that are incurred to conduct the Company’s sales and marketing activities.

(v) General and administrative expenses General and administrative expenses consist primarily of salaries, services charges, depreciation of property and equipment, amortization of operating leasing assets, professional services fees, rental and other general corporate related expenses.

(w) Employee benefits Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions made. The total amounts of such employee benefit expenses, which were expensed as incurred, were approximately RMB1,029,354 (US$144,592) and RMB654,722 for the years ended March 31, 2025 and 2024, respectively.

1029354

144592

654722

(x) Taxation Income taxes Current income taxes are provided on the basis of income/loss for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are provided using the assets and liabilities method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statement of income and comprehensive income in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more-likely-than-not that some portion of, or all of the deferred tax assets will not be realized. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Group considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group considers possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry. Value added tax Revenue represents the invoiced value of goods and services, net of VAT. The VAT is based on gross sales price with VAT rates of 3% and 6%, depending on the type of products sold. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in taxes payable or other current assets. All of the VAT returns filed by the Group’s subsidiaries in PRC remain subject to examination by the tax authorities for five years from the date of filing. Uncertain tax positions The Group applies the provisions of ASC topic 740 (“ASC 740”), Accounting for Income Taxes, to account for uncertainty in income taxes. ASC 740 prescribes a recognition threshold a tax position is required to meet before being recognized in the financial statements. The benefit of a tax position is recognized if a tax return position or future tax position is “more likely than not” to be sustained under examination based solely on the technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured, using a cumulative probability approach, at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The estimated liability for unrecognized tax benefits are periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, changes and or developments with respect to tax audits, and the expiration of the statute of limitations. Additionally, in future periods, changes in facts and circumstances, and new information may require the Group to adjust the recognition and measurement of estimates with regards to changes in individual tax position. Changes in recognition and measurement of estimates are recognized in the period which the change occurs. The Group’s operating subsidiaries in PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB100,000 (US$14,047). In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred.

0.03

0.06

100000

14047

(y) Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation. (z) Statutory reserves Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”)). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Group has accumulated losses from prior periods, the Group is able to use the current period net profit after tax to offset against the accumulated loss. For the years ended March 31, 2025 and 2024, profit appropriation to statutory surplus fund for the Group’s entities incorporated in the PRC was both nil. No appropriation to other reserve funds was made for any of the periods presented.

(aa) Comprehensive income (loss) The Group has adopted FASB Accounting Standard Codification Topic 220 (“ASC 220”) “Comprehensive income”, which establishes standards for reporting and the presentation of comprehensive income (loss), its components and accumulated balances. There was no other comprehensive loss for the years ended March 31, 2025 and 2024.

(ab) Segment Reporting ASC 280 establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Based on the criteria established by ASC 280, the Group’s CODM has been identified as the Group’s Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing the performance of the Group. As a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s long-lived assets are substantially located in the PRC, no geographical segments are presented.

(ac) Commitments and contingencies In the normal course of business, the Group is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the consolidated financial statements. If the assessment indicates that a potential loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed.

(ad) Recently issued accounting pronouncements In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires specific disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will result in the required additional disclosures being included in the consolidated financial statements, once adopted. The Group adopted this standard since March 31, 2024. . In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280)” (“ASU 2023-07”). The amendments in ASU 2023-07 improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision useful financial analyses. Topic 280 requires a public entity to report a measure of segment profit or loss that the chief operating decision maker (CODM) uses to assess segment performance and make decisions about allocating resources. Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization, and depletion expense, to be disclosed under certain circumstances. The amendments in ASU 202307 do not change or remove those disclosure requirements. The amendments in ASU 2023-07 also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in ASU 2023-07 are effective for years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, adopted retrospectively. The Group considers that the guidance will not have a significant impact on the disclosures set out in these consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Improvements to expense disaggregation disclosures (Subtopic 220-40). During the FASB’s 2021 agenda consultation and other outreach, investors observed that expense information is critically important in understanding a company’s performance, assessing its prospects for future cash flows, and comparing its performance over time and with that of other companies. They indicated that more granular expense information would assist them in better understanding an entity’s cost structure and forecasting future cash flows. The ASU addresses this feedback by requiring public companies to disclose, in the notes to financial statements, specified information about certain costs and expenses at each interim and annual reporting period. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated balance sheets, statements of operation and comprehensive income, and statements of cash flows.

3. Concentration of risks (a) Concentration of credit risk Financial instruments that potentially subject the Group to a significant concentration of credit risk consist primarily of cash and cash equivalents. As of March 31, 2025 and 2024, RMB16,579,930 (US$2,328,969) and RMB15,642,560 were deposited with financial institutions located in the PRC, respectively, where there is a RMB500,000 (US$70,235) deposit insurance limit for a legal entity’s aggregated balance at each bank. As of March 31, 2025 and 2024, nil and RMB12,885,487 of the Group’s cash and cash equivalents held by financial institutions were uninsured, respectively. While the Group believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. (b) Currency convertibility risk All of the Group’s operating activities are settled in RMB, which is not freely convertible into foreign currencies. All of foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with supporting documents. (c) Concentration of customers and suppliers Major Customers For the year ended March 31, 2025 and 2024, <span id="xdx_90B_eus-gaap--Revenues_do_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorCustomersMember_z4HVCCqPr7Mc">no customer accounted more than <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorCustomersMember_zmvdpSiyQA4f">10% of total revenues, respectively. Major Suppliers For the year ended March 31, 2025, six suppliers accounted for approximately <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorOneSupplierMember_zKGh2vXbQB0h">14.7%, <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorTwoSupplierMember_zjfFjYDkPFcf">10.5%, <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorThreeSupplierMember_zdgd9iTgTJB1">13.7%, <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorFourSupplierMember_zFLdZZHU1cMd">10.1%, <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorFiveSupplierMember_zuWP67BKlA5e">13.4% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorSixSupplierMember_zrpie6boZod4">14.5% of the total purchases, respectively. For the year ended March 31, 2024, two suppliers accounted for approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneSuppliersMember_zvA1joOUdfRk">34.2% and <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoSuppliersMember_zueIv4GnT2x">32.6% of the total purchases, respectively. As of March 31, 2025 and 2024, <span id="xdx_904_eus-gaap--AccountsReceivableNet_iI_do_c20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SuppliersMember_zK2gFiCkYYM">no supplier accounted more than <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SuppliersMember_zKJO9TpBjeMa">10% of total accounts payable.

16579930

2328969

15642560

500000

12885487

0.10

0.147

0.105

0.137

0.101

0.134

0.145

0.342

0.326

0.10

4. Inventories Inventories, consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_88B_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zVArD96h6998" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Inventories (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of inventories</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify; padding-bottom: 1pt">Sports-related products</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--InventoryNet_iI_c20240331__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zokhNqRG2PGh" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Inventories">336,922</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--InventoryNet_iI_c20250331__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zyfzn4ZERB" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Inventories">632,810</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--InventoryNet_iI_uUSD_c20250331__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zz4HsbaApdEf" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Inventories">88,890</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--InventoryNet_iI_c20240331_z1Jfiavj5Ckd" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">336,922</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--InventoryNet_iI_c20250331_zPuEgAqc3pWd" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">632,810</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--InventoryNet_iI_uUSD_c20250331_zOLiK7UwsVR3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">88,890</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The Group commenced the sale and procurement of sports-related products in March 2023. The inventories holding as of March 31, 2025 and 2024 were transitory for the short period potential sales orders. There were no material slow-moving inventories that would be at risk of becoming obsolete. As a result, there was no write-down allowance of inventories from the carrying amount to its estimated net realizable value for the year ended March 31, 2025.

<table cellpadding="0" cellspacing="0" id="xdx_88B_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zVArD96h6998" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Inventories (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of inventories</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify; padding-bottom: 1pt">Sports-related products</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--InventoryNet_iI_c20240331__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zokhNqRG2PGh" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Inventories">336,922</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--InventoryNet_iI_c20250331__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zyfzn4ZERB" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Inventories">632,810</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--InventoryNet_iI_uUSD_c20250331__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zz4HsbaApdEf" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Inventories">88,890</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--InventoryNet_iI_c20240331_z1Jfiavj5Ckd" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">336,922</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--InventoryNet_iI_c20250331_zPuEgAqc3pWd" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">632,810</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--InventoryNet_iI_uUSD_c20250331_zOLiK7UwsVR3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">88,890</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

336922

632810

88890

336922

632810

88890

5. Prepayments and other current assets Prepayments and other current assets consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_897_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zXn7VNEgMPtj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Prepayments and other current assets (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of prepayments and other current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20240331_zKYEMIxp5bpl" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20250331_z9VPsYWTcrke" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AdvancesToAffiliate_iI_zWagHnBhDJy4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Advances to vendors (a)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">6,941,758</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">304,572</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--AdvancesToAffiliate_iI_uUSD_c20250331_fKGEp_z8MqasKBrNhl" style="width: 12%; text-align: right" title="Advances to vendors (a)">42,783</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LoansToThirdparties_iI_zFePVmEUfEG" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loans to third-parties (b)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,046,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">448,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--LoansToThirdparties_iI_uUSD_c20250331_fKGIp_zU9Jdphvejc9" style="text-align: right" title="Loans to third-parties (b)">63,069</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Deposits_iI_zBPh8szmWYDe" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Rental deposits (c)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">629,340</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Deposits_iI_uUSD_c20250331_fKGMp_zenRcmu0sDgd" style="text-align: right" title="Rental deposits (c)">111,579</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AdvanceToEmployees_iI_zhjY4NmdjPre" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Advance to employees (d)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">455,351</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">539,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--AdvanceToEmployees_iI_uUSD_c20250331_fKGQp_zB2NgJUhtCqg" style="text-align: right" title="Advance to employees (d)">75,821</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherPrepaidExpenseCurrent_iI_zxSddebv5qK" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Others (e)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">258,942</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">366,475</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherPrepaidExpenseCurrent_iI_uUSD_c20250331_fKGUp_z7a6QghBP2Y3" style="border-bottom: Black 1pt solid; text-align: right" title="Others (e)">51,478</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_zN4EkZ2HR2k" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Prepayments and other current assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,331,891</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,454,136</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_uUSD_c20250331_zZ2sp3BwlJu4" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Prepayments and other current assets">344,730</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%">(a)</td> <td style="width: 96%; text-align: justify">Advances to vendors primarily included prepayment for service fee attributable to DAKA merchant membership service providers in 2024 and prepayment for office rental in 2025, which will be expensed in cost of revenues when the associated revenue is recognized.</td></tr> <tr style="vertical-align: top"> <td>(b)</td> <td style="text-align: justify">Loans to third parties represents the balance lend to various third parties for their working capital needs with interest-free. There was no collection related to these loans to third parties by the Company subsequently as of the date of this report.</td></tr> <tr style="vertical-align: top"> <td>(c)</td> <td style="text-align: justify">Rental deposit primarily comprises three months’ rent for the new office leased by the Group in October 2023, recognized as a security deposit in accordance with the terms of the lease agreement.</td></tr> <tr style="vertical-align: top"> <td>(d)</td> <td style="text-align: justify">Advance to employees was provided to staff for travelling and business-related use and are expensed as incurred.</td></tr> <tr style="vertical-align: top"> <td>(e)</td> <td style="text-align: justify">Others primarily included the prepayment of rent related to leases expiring within 12 months.</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_897_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zXn7VNEgMPtj" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Prepayments and other current assets (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of prepayments and other current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20240331_zKYEMIxp5bpl" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20250331_z9VPsYWTcrke" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AdvancesToAffiliate_iI_zWagHnBhDJy4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Advances to vendors (a)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">6,941,758</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">304,572</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--AdvancesToAffiliate_iI_uUSD_c20250331_fKGEp_z8MqasKBrNhl" style="width: 12%; text-align: right" title="Advances to vendors (a)">42,783</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LoansToThirdparties_iI_zFePVmEUfEG" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Loans to third-parties (b)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,046,500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">448,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--LoansToThirdparties_iI_uUSD_c20250331_fKGIp_zU9Jdphvejc9" style="text-align: right" title="Loans to third-parties (b)">63,069</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Deposits_iI_zBPh8szmWYDe" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Rental deposits (c)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">629,340</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Deposits_iI_uUSD_c20250331_fKGMp_zenRcmu0sDgd" style="text-align: right" title="Rental deposits (c)">111,579</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AdvanceToEmployees_iI_zhjY4NmdjPre" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Advance to employees (d)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">455,351</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">539,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--AdvanceToEmployees_iI_uUSD_c20250331_fKGQp_zB2NgJUhtCqg" style="text-align: right" title="Advance to employees (d)">75,821</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherPrepaidExpenseCurrent_iI_zxSddebv5qK" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Others (e)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">258,942</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">366,475</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherPrepaidExpenseCurrent_iI_uUSD_c20250331_fKGUp_z7a6QghBP2Y3" style="border-bottom: Black 1pt solid; text-align: right" title="Others (e)">51,478</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_zN4EkZ2HR2k" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Prepayments and other current assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,331,891</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,454,136</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_uUSD_c20250331_zZ2sp3BwlJu4" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Prepayments and other current assets">344,730</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%">(a)</td> <td style="width: 96%; text-align: justify">Advances to vendors primarily included prepayment for service fee attributable to DAKA merchant membership service providers in 2024 and prepayment for office rental in 2025, which will be expensed in cost of revenues when the associated revenue is recognized.</td></tr> <tr style="vertical-align: top"> <td>(b)</td> <td style="text-align: justify">Loans to third parties represents the balance lend to various third parties for their working capital needs with interest-free. There was no collection related to these loans to third parties by the Company subsequently as of the date of this report.</td></tr> <tr style="vertical-align: top"> <td>(c)</td> <td style="text-align: justify">Rental deposit primarily comprises three months’ rent for the new office leased by the Group in October 2023, recognized as a security deposit in accordance with the terms of the lease agreement.</td></tr> <tr style="vertical-align: top"> <td>(d)</td> <td style="text-align: justify">Advance to employees was provided to staff for travelling and business-related use and are expensed as incurred.</td></tr> <tr style="vertical-align: top"> <td>(e)</td> <td style="text-align: justify">Others primarily included the prepayment of rent related to leases expiring within 12 months.</td></tr> </table>

6941758

304572

42783

1046500 448990 63069

629340

794329

111579

455351 539770 75821

258942

366475

51478

9331891

2454136

344730

6. Property and equipment, net Property and equipment, net, consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--PropertyPlantAndEquipmentTextBlock_zokMMsZbAIF4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and equipment, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Leasehold improvement</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_pp0p0" style="width: 12%; text-align: right" title="Property and equipment, gross">210,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_d0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zkO1nrcLMPba" style="width: 12%; text-align: right" title="Property and equipment, gross">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_d0_uUSD_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z2oPBQnK8BI4" style="width: 12%; text-align: right" title="Property and equipment, gross">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_pp0p0" style="text-align: right" title="Property and equipment, gross">353,665</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_pp0p0" style="text-align: right" title="Property and equipment, gross">531,097</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zbNRjeMTrbna" style="text-align: right" title="Property and equipment, gross">74,603</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Office furniture</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Property and equipment, gross">120,986</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Property and equipment, gross">126,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zZdPtWZuVoA3" style="text-align: right" title="Property and equipment, gross">17,701</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Vehicle</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">292,035</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">354,635</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zchRP8y20jj2" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">49,815</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_c20240331_pp0p0" style="font-weight: bold; text-align: right" title="Property and equipment, gross">976,686</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20250331_pp0p0" style="font-weight: bold; text-align: right" title="Property and equipment, gross">1,011,745</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250331_z0GxMTyflBv8" style="font-weight: bold; text-align: right" title="Property and equipment, gross">142,119</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20240331_zdOre1cB2jx9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(430,223</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20250331_zFJCCq4bSgUa" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(477,719</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20250331_zrtjvcTooKT3" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(67,105</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentNet_c20240331_pp0p0" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">546,463</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentNet_c20250331_pp0p0" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">534,026</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_uUSD_c20250331_z3G5hNTt8uv" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">75,014</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> For the years ended March 31, 2025 and 2024, the Group recorded depreciation expenses of RMB256,508 (US$36,031) and RMB146,013, respectively. There is no impairment loss recognized for the years ended March 31, 2025 and 2024.

<table cellpadding="0" cellspacing="0" id="xdx_88F_eus-gaap--PropertyPlantAndEquipmentTextBlock_zokMMsZbAIF4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and equipment, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Leasehold improvement</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_pp0p0" style="width: 12%; text-align: right" title="Property and equipment, gross">210,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_d0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zkO1nrcLMPba" style="width: 12%; text-align: right" title="Property and equipment, gross">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_d0_uUSD_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z2oPBQnK8BI4" style="width: 12%; text-align: right" title="Property and equipment, gross">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_pp0p0" style="text-align: right" title="Property and equipment, gross">353,665</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_pp0p0" style="text-align: right" title="Property and equipment, gross">531,097</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zbNRjeMTrbna" style="text-align: right" title="Property and equipment, gross">74,603</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Office furniture</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Property and equipment, gross">120,986</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_pp0p0" style="text-align: right" title="Property and equipment, gross">126,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zZdPtWZuVoA3" style="text-align: right" title="Property and equipment, gross">17,701</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Vehicle</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_c20240331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">292,035</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_pp0p0" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">354,635</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zchRP8y20jj2" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">49,815</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_c20240331_pp0p0" style="font-weight: bold; text-align: right" title="Property and equipment, gross">976,686</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--PropertyPlantAndEquipmentGross_c20250331_pp0p0" style="font-weight: bold; text-align: right" title="Property and equipment, gross">1,011,745</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250331_z0GxMTyflBv8" style="font-weight: bold; text-align: right" title="Property and equipment, gross">142,119</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20240331_zdOre1cB2jx9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(430,223</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20250331_zFJCCq4bSgUa" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(477,719</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20250331_zrtjvcTooKT3" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(67,105</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentNet_c20240331_pp0p0" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">546,463</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentNet_c20250331_pp0p0" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">534,026</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_uUSD_c20250331_z3G5hNTt8uv" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">75,014</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

210000

353665

531097

74603

120986

126013

17701

292035

354635

49815

976686

1011745

142119

430223

477719

67105

546463

534026

75014

256508

36031

146013

7. Short-term borrowings The following table presents the Group’s outstanding short-term loans as of March 31, 2024 and 2023: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfShortTermDebtTextBlock_znp2mhAkwvkg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Short-term borrowings (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of short-term loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Xiaoshan Rural Commercial Bank (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShortTermBorrowings_iI_pp0p0_c20240331__us-gaap--CollateralAxis__custom--XiaoshanRuralCommercialBankMember_fKGkp_zsBgYPxH6N96" style="width: 12%; text-align: right" title="Short term borrowings">3,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_c20250331__us-gaap--CollateralAxis__custom--XiaoshanRuralCommercialBankMember_fKGkp_z4sqmcOL5u58" style="width: 12%; text-align: right" title="Short term borrowings">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_uUSD_c20250331__us-gaap--CollateralAxis__custom--XiaoshanRuralCommercialBankMember_fKGkp_z3ITb1ZpGRVb" style="width: 12%; text-align: right" title="Short term borrowings">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Zhejiang Mintai Commercial Bank (ii)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShortTermBorrowings_iI_pp0p0_c20240331__us-gaap--CollateralAxis__custom--ZhejiangMintaiCommercialBankMember_fKGlpKQ_____zuMGHb1F1aRl" style="border-bottom: Black 1pt solid; text-align: right" title="Short term borrowings">2,000,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_c20250331__us-gaap--CollateralAxis__custom--ZhejiangMintaiCommercialBankMember_fKGlpKQ_____zhxhMGZRQ7M6" style="border-bottom: Black 1pt solid; text-align: right" title="Short term borrowings">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_uUSD_c20250331__us-gaap--CollateralAxis__custom--ZhejiangMintaiCommercialBankMember_fKGlpKQ_____zijLlaPfqGVg" style="border-bottom: Black 1pt solid; text-align: right" title="Short term borrowings">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShortTermBorrowings_c20240331_pp0p0" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Short term borrowings">5,000,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_c20250331_zYBhCVT2hSag" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Short term borrowings">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_uUSD_c20250331_zZgPYMEVmci4" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Short term borrowings">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%">(i) </td> <td style="width: 96%">On May 30, 2022, Fit-One entered into a one-year loan agreement with Xiaoshan Rural Commercial Bank of RMB3,000,000 bearing an interest rate of 6.30% per annum. The loan was guaranteed by a third-party entity, Hangzhou Financing Guarantee Group Co. The loan was fully repaid in May 2023. On May 16, 2023, Fit-One entered into a one-year loan agreement with Xiaoshan Rural Commercial Bank of RMB3,000,000 bearing an interest rate of 6.30% per annum. The loan was guaranteed by a third-party entity, Hangzhou Financing Guarantee Group Co. The loan was fully repaid in May 2024.</td></tr> <tr> <td style="vertical-align: top"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; text-align: justify">(ii)</td> <td style="text-align: justify">On November 14, 2022, Fit-One entered into a one-year loan agreement with Zhejiang Mintai Commercial Bank of RMB1,000,000 bearing an interest rate of 7.16% per annum. The loan was guaranteed by Mr. Conggang Chen, Ms. Minghui Liu and Ms. Lianying Zhu. The loan was fully repaid in October 2023.</td></tr> <tr> <td style="vertical-align: top; text-align: justify"> </td> <td> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="text-align: justify">On October 19, 2023, Fit-One entered into a one-year loan agreement with Zhejiang Mintai Commercial Bank of RMB2,000,000 bearing an interest rate of 6.29% per annum. The loan was guaranteed by Mr. Conggang Chen, Ms. Minghui Liu and Ms. Lianying Zhu. The loan was fully repaid in October 2024.</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--ScheduleOfShortTermDebtTextBlock_znp2mhAkwvkg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Short-term borrowings (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of short-term loans</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Xiaoshan Rural Commercial Bank (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--ShortTermBorrowings_iI_pp0p0_c20240331__us-gaap--CollateralAxis__custom--XiaoshanRuralCommercialBankMember_fKGkp_zsBgYPxH6N96" style="width: 12%; text-align: right" title="Short term borrowings">3,000,000</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_c20250331__us-gaap--CollateralAxis__custom--XiaoshanRuralCommercialBankMember_fKGkp_z4sqmcOL5u58" style="width: 12%; text-align: right" title="Short term borrowings">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_uUSD_c20250331__us-gaap--CollateralAxis__custom--XiaoshanRuralCommercialBankMember_fKGkp_z3ITb1ZpGRVb" style="width: 12%; text-align: right" title="Short term borrowings">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Zhejiang Mintai Commercial Bank (ii)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShortTermBorrowings_iI_pp0p0_c20240331__us-gaap--CollateralAxis__custom--ZhejiangMintaiCommercialBankMember_fKGlpKQ_____zuMGHb1F1aRl" style="border-bottom: Black 1pt solid; text-align: right" title="Short term borrowings">2,000,000</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_c20250331__us-gaap--CollateralAxis__custom--ZhejiangMintaiCommercialBankMember_fKGlpKQ_____zhxhMGZRQ7M6" style="border-bottom: Black 1pt solid; text-align: right" title="Short term borrowings">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_uUSD_c20250331__us-gaap--CollateralAxis__custom--ZhejiangMintaiCommercialBankMember_fKGlpKQ_____zijLlaPfqGVg" style="border-bottom: Black 1pt solid; text-align: right" title="Short term borrowings">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShortTermBorrowings_c20240331_pp0p0" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Short term borrowings">5,000,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_c20250331_zYBhCVT2hSag" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Short term borrowings">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ShortTermBorrowings_iI_pp0p0_d0_uUSD_c20250331_zZgPYMEVmci4" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Short term borrowings">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%">(i) </td> <td style="width: 96%">On May 30, 2022, Fit-One entered into a one-year loan agreement with Xiaoshan Rural Commercial Bank of RMB3,000,000 bearing an interest rate of 6.30% per annum. The loan was guaranteed by a third-party entity, Hangzhou Financing Guarantee Group Co. The loan was fully repaid in May 2023. On May 16, 2023, Fit-One entered into a one-year loan agreement with Xiaoshan Rural Commercial Bank of RMB3,000,000 bearing an interest rate of 6.30% per annum. The loan was guaranteed by a third-party entity, Hangzhou Financing Guarantee Group Co. The loan was fully repaid in May 2024.</td></tr> <tr> <td style="vertical-align: top"> </td> <td> </td></tr> <tr> <td style="vertical-align: top; text-align: justify">(ii)</td> <td style="text-align: justify">On November 14, 2022, Fit-One entered into a one-year loan agreement with Zhejiang Mintai Commercial Bank of RMB1,000,000 bearing an interest rate of 7.16% per annum. The loan was guaranteed by Mr. Conggang Chen, Ms. Minghui Liu and Ms. Lianying Zhu. The loan was fully repaid in October 2023.</td></tr> <tr> <td style="vertical-align: top; text-align: justify"> </td> <td> </td></tr> <tr> <td style="text-align: justify"> </td> <td style="text-align: justify">On October 19, 2023, Fit-One entered into a one-year loan agreement with Zhejiang Mintai Commercial Bank of RMB2,000,000 bearing an interest rate of 6.29% per annum. The loan was guaranteed by Mr. Conggang Chen, Ms. Minghui Liu and Ms. Lianying Zhu. The loan was fully repaid in October 2024.</td></tr> </table>

3000000

2000000

5000000

8. Advances from customers <table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfAdvancesFromCustomersTableTextBlock_zR8wC2oeTCm5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Advances from customers (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of advances from customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Advances from customers related to POS devices pre-sale (a)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerLiability_iI_c20240331__srt--ProductOrServiceAxis__custom--POSMember_fKGEp_z0DvLwA0ik8c" style="width: 12%; text-align: right" title="Advances from customers">27,893,632</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerLiability_iI_d0_c20250331__srt--ProductOrServiceAxis__custom--POSMember_fKGEp_zRpCMYjUwdKd" style="width: 12%; text-align: right" title="Advances from customers">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerLiability_iI_d0_uUSD_c20250331__srt--ProductOrServiceAxis__custom--POSMember_fKGEp_zxHxbZwHmC6g" style="width: 12%; text-align: right" title="Advances from customers">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Advances from customers related to DAKA regional agent fee(b)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerLiability_iI_d0_c20240331__srt--ProductOrServiceAxis__custom--DAKAMember_fKGIp_zZxedoSTLlgh" style="border-bottom: Black 1pt solid; text-align: right" title="Advances from customers">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerLiability_iI_c20250331__srt--ProductOrServiceAxis__custom--DAKAMember_fKGIp_ztmXUxQhHtqa" style="border-bottom: Black 1pt solid; text-align: right" title="Advances from customers">10,502,722</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250331__srt--ProductOrServiceAxis__custom--DAKAMember_fKGIp_zKe761A3YRui" style="border-bottom: Black 1pt solid; text-align: right" title="Advances from customers">1,475,309</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--ContractWithCustomerLiability_iI_c20240331_zoU6YVgBl6v2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">27,893,632</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerLiability_iI_c20250331_zt06CruLvWj8" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">10,502,722</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250331_zdvb978tp1s7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">1,475,309</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%">(a)</td> <td style="width: 96%; text-align: justify">Advances from customers presents the cash received from customers related to POS devices pre-sale and will be recognized as revenues when the POS devices products are delivered to the customers. The advance is fully refundable without interest if customer cancels the sales order before the delivery.</td></tr> <tr style="vertical-align: top"> <td>(b)</td> <td style="text-align: justify">Advances from customers presents the cash received from DAKA regional agency customers for DAKA merchant membership business. Typically, with regional agency contracts spanning three-years which is terminable at will, these advances from DAKA regional agency customers are recognized as revenue over the contract period on a deferred basis. </td></tr> </table> The following table sets forth the movement of advances from customers for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_887_ecustom--ScheduleOfAdvancesRollforwardTableTextBlock_zGy0zJelCnl9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Advances from customers (Details 1)"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">Rollforward of advances</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of March 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Cash collection</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Revenue recognized</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of March 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; width: 35%; text-align: left; text-indent: -5pt">Advances from customers related to POS devices pre-sale</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--AdvancesFromCustomers_iI_c20240331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_zpHzEprUJxGb" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Advances from customers">27,893,632</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--IncreaseInCustomerAdvances_c20240401__20250331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_zNPSPnDGR2Z9" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Increase in customer advances">26,088,548</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20240401__20250331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_zXNwrnN9g36h" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Revenue recognized">(53,982,180</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--AdvancesFromCustomers_iI_d0_c20250331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_zs0rcnNJCBW6" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Advances from customers">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--AdvancesFromCustomers_iI_d0_uUSD_c20250331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_znPmD9qC95Lf" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Advances from customers">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: left; text-indent: -5pt">Advances from customers related to DAKA regional agent fee</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--AdvancesFromCustomers_iI_d0_c20240331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zb8he3LZWcOh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Advances from customers">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--IncreaseInCustomerAdvances_c20240401__20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zaWudgaOUGq5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Increase in customer advances">11,122,000</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20240401__20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zfLjFsipeVEb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue recognized">(619,278</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--AdvancesFromCustomers_iI_d0_c20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zRGrICwc682b" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Advances from customers">10,502,722</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_ecustom--AdvancesFromCustomers_iI_d0_uUSD_c20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zTUwm8H4ZUAl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Advances from customers">1,475,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--AdvancesFromCustomers_iI_c20240331_zuyWzV9mXjF2" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total advances from customers">27,893,632</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_ecustom--IncreaseInCustomerAdvances_c20240401__20250331_zM2mMzCE6Cg6" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Increase in customer advances">37,210,548</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20240401__20250331_zNwoDxeHbOHa" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue recognized">(54,601,458</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">)</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_ecustom--AdvancesFromCustomers_iI_c20250331_z7AjZagHA4pg" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total advances from customers">10,502,722</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_ecustom--AdvancesFromCustomers_iI_uUSD_c20250331_zXkiroeUXiph" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total advances from customers">1,475,309</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfAdvancesFromCustomersTableTextBlock_zR8wC2oeTCm5" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Advances from customers (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of advances from customers</td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Advances from customers related to POS devices pre-sale (a)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerLiability_iI_c20240331__srt--ProductOrServiceAxis__custom--POSMember_fKGEp_z0DvLwA0ik8c" style="width: 12%; text-align: right" title="Advances from customers">27,893,632</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerLiability_iI_d0_c20250331__srt--ProductOrServiceAxis__custom--POSMember_fKGEp_zRpCMYjUwdKd" style="width: 12%; text-align: right" title="Advances from customers">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerLiability_iI_d0_uUSD_c20250331__srt--ProductOrServiceAxis__custom--POSMember_fKGEp_zxHxbZwHmC6g" style="width: 12%; text-align: right" title="Advances from customers">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Advances from customers related to DAKA regional agent fee(b)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerLiability_iI_d0_c20240331__srt--ProductOrServiceAxis__custom--DAKAMember_fKGIp_zZxedoSTLlgh" style="border-bottom: Black 1pt solid; text-align: right" title="Advances from customers">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerLiability_iI_c20250331__srt--ProductOrServiceAxis__custom--DAKAMember_fKGIp_ztmXUxQhHtqa" style="border-bottom: Black 1pt solid; text-align: right" title="Advances from customers">10,502,722</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250331__srt--ProductOrServiceAxis__custom--DAKAMember_fKGIp_zKe761A3YRui" style="border-bottom: Black 1pt solid; text-align: right" title="Advances from customers">1,475,309</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--ContractWithCustomerLiability_iI_c20240331_zoU6YVgBl6v2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">27,893,632</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerLiability_iI_c20250331_zt06CruLvWj8" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">10,502,722</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250331_zdvb978tp1s7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">1,475,309</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4%">(a)</td> <td style="width: 96%; text-align: justify">Advances from customers presents the cash received from customers related to POS devices pre-sale and will be recognized as revenues when the POS devices products are delivered to the customers. The advance is fully refundable without interest if customer cancels the sales order before the delivery.</td></tr> <tr style="vertical-align: top"> <td>(b)</td> <td style="text-align: justify">Advances from customers presents the cash received from DAKA regional agency customers for DAKA merchant membership business. Typically, with regional agency contracts spanning three-years which is terminable at will, these advances from DAKA regional agency customers are recognized as revenue over the contract period on a deferred basis. </td></tr> </table>

27893632

10502722

1475309

27893632

10502722

1475309

<table cellpadding="0" cellspacing="0" id="xdx_887_ecustom--ScheduleOfAdvancesRollforwardTableTextBlock_zGy0zJelCnl9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Advances from customers (Details 1)"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt">Rollforward of advances</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of March 31, 2024</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Cash collection</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">Revenue recognized</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">As of March 31, 2025</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">RMB</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center">US$</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; width: 35%; text-align: left; text-indent: -5pt">Advances from customers related to POS devices pre-sale</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--AdvancesFromCustomers_iI_c20240331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_zpHzEprUJxGb" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Advances from customers">27,893,632</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_98D_ecustom--IncreaseInCustomerAdvances_c20240401__20250331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_zNPSPnDGR2Z9" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Increase in customer advances">26,088,548</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20240401__20250331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_zXNwrnN9g36h" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Revenue recognized">(53,982,180</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--AdvancesFromCustomers_iI_d0_c20250331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_zs0rcnNJCBW6" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Advances from customers">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td><td id="xdx_982_ecustom--AdvancesFromCustomers_iI_d0_uUSD_c20250331__us-gaap--TransactionTypeAxis__custom--POSDevicesPreSaleMember_znPmD9qC95Lf" style="font: 10pt Times New Roman, Times, Serif; width: 9%; text-align: right" title="Advances from customers">–</td><td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; padding-left: 5pt; text-align: left; text-indent: -5pt">Advances from customers related to DAKA regional agent fee</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98C_ecustom--AdvancesFromCustomers_iI_d0_c20240331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zb8he3LZWcOh" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Advances from customers">–</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--IncreaseInCustomerAdvances_c20240401__20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zaWudgaOUGq5" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Increase in customer advances">11,122,000</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20240401__20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zfLjFsipeVEb" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue recognized">(619,278</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left">)</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98D_ecustom--AdvancesFromCustomers_iI_d0_c20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zRGrICwc682b" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Advances from customers">10,502,722</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_ecustom--AdvancesFromCustomers_iI_d0_uUSD_c20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zTUwm8H4ZUAl" style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right" title="Advances from customers">1,475,309</td><td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt">Total</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98F_ecustom--AdvancesFromCustomers_iI_c20240331_zuyWzV9mXjF2" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total advances from customers">27,893,632</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_985_ecustom--IncreaseInCustomerAdvances_c20240401__20250331_zM2mMzCE6Cg6" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Increase in customer advances">37,210,548</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_986_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20240401__20250331_zNwoDxeHbOHa" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Revenue recognized">(54,601,458</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left">)</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_980_ecustom--AdvancesFromCustomers_iI_c20250331_z7AjZagHA4pg" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total advances from customers">10,502,722</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: left"> </td><td id="xdx_98E_ecustom--AdvancesFromCustomers_iI_uUSD_c20250331_zXkiroeUXiph" style="border-bottom: Black 2.5pt double; font: bold 10pt Times New Roman, Times, Serif; text-align: right" title="Total advances from customers">1,475,309</td><td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 27893632 26088548 53982180 0 0 0 11122000 619278 10502722 1475309 27893632 37210548 54601458 10502722 1475309

9. Goodwill The changes in the carrying amount of goodwill was as follows: <table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfGoodwillTextBlock_zTffOrUXPgaf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Goodwill (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of changes carrying amount of goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20240331_zmgsHqQIIHRe" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250331_zWpH5r2Vo5ic" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--GoodwillGross_iI_d0_zcbp5REO5lSc" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Goodwill from Dazhika</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">708,942</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--GoodwillGross_iI_uUSD_c20250331_zl9t7qvTyRr8" style="width: 12%; text-align: right" title="Goodwill from Dazhika">99,584</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GoodwillImpairedAccumulatedImpairmentLoss_iI_d0_zVt9gWIgL4E8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--GoodwillImpairedAccumulatedImpairmentLoss_iI_d0_uUSD_c20250331_zd2UT3m8fXFk" style="border-bottom: Black 1pt solid; text-align: right" title="Less: impairment">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Goodwill_iI_d0_uCNY_zITl1SRus6k1" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Goodwill</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">708,942</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--Goodwill_iI_uUSD_c20250331_z225GQwbG2Kf" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Goodwill">99,584</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> On November 1, 2024, the Company acquired 100% interests of Hangzhou Dazhika Technology Co., Ltd. (“Dazhika”) from third parties. Dazhika was engaged in providing information technology solutions services to connect consumers and merchants through its e-commercial platform in China. The total consideration was RMB910,000 (US$<span id="xdx_901_eus-gaap--BusinessCombinationConsiderationTransferred1_uUSD_c20241031__20241101__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaMember_zR6IVIld6t68">127,827). The fair value of identifiable net assets acquired was RMB<span id="xdx_90D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_c20241101__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaMember_zorZUCkIMRV3">201,058 (US$<span id="xdx_90D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_uUSD_c20241101__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaMember_zbs6kMWTopp4">28,242), resulting in the recognition of RMB708,942 (US$99,584) of goodwill. There was no goodwill impairment loss recognized for the year ended March 31, 2025.

<table cellpadding="0" cellspacing="0" id="xdx_882_eus-gaap--ScheduleOfGoodwillTextBlock_zTffOrUXPgaf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Goodwill (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of changes carrying amount of goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20240331_zmgsHqQIIHRe" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250331_zWpH5r2Vo5ic" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--GoodwillGross_iI_d0_zcbp5REO5lSc" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Goodwill from Dazhika</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">708,942</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--GoodwillGross_iI_uUSD_c20250331_zl9t7qvTyRr8" style="width: 12%; text-align: right" title="Goodwill from Dazhika">99,584</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GoodwillImpairedAccumulatedImpairmentLoss_iI_d0_zVt9gWIgL4E8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--GoodwillImpairedAccumulatedImpairmentLoss_iI_d0_uUSD_c20250331_zd2UT3m8fXFk" style="border-bottom: Black 1pt solid; text-align: right" title="Less: impairment">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Goodwill_iI_d0_uCNY_zITl1SRus6k1" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Goodwill</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">708,942</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--Goodwill_iI_uUSD_c20250331_z225GQwbG2Kf" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Goodwill">99,584</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

708942

99584

708942

99584

910000

127827

201058

28242

708942

99584

10. Operating leases The Group has several offices lease agreements with lease terms ranging from two to five years. The Group does not have any finance lease for the years ended March 31, 2025 and 2024. Operating leases result in the recognition of ROU assets and lease liabilities on the balance sheet. ROU assets represent the Group’s right to use the leased asset for the lease term, and lease liabilities represent the obligation to make lease payments. The operating lease expenses were charged to selling expenses and general and administrative expenses. The Group used its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments and the discount rate was not changed on recalculating modified ROU assets and lease liabilities. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. <table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--OperatingLeaseLeaseIncomeTableTextBlock_zko05iafFn4e" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of ROU assets and lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Operating lease right-of-use assets</td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20240331_zdXMoPAWg53l" style="border-bottom: Black 2.5pt double; width: 12%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">5,469,166</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20250331_zSDVF0OtgtZ4" style="border-bottom: Black 2.5pt double; width: 12%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">6,637,141</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseRightOfUseAsset_iI_uUSD_c20250331_zqhz8dqqMG7g" style="border-bottom: Black 2.5pt double; width: 12%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">932,314</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Operating lease liabilities, current</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20240331_zl8ESTlGAec" style="text-align: right" title="Operating lease liabilities, current">1,081,370</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20250331_zkCqwF9YQveh" style="text-align: right" title="Operating lease liabilities, current">1,814,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityCurrent_iI_uUSD_c20250331_zuvE4m3N7Xa9" style="text-align: right" title="Operating lease liabilities, current">254,821</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Operating lease liabilities, non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20240331_zTGUv9vSU68b" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">4,859,692</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20250331_zYccUCD3H3z5" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">5,346,727</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_uUSD_c20250331_zN1T7nslkHcb" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">751,050</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseLiability_iI_c20240331_zJy4tlpRpWWe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">5,941,062</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiability_iI_c20250331_zBo7oWCDauD3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">7,160,798</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseLiability_iI_uUSD_c20250331_zzyUhXkmsNC" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">1,005,871</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The weighted-average remaining lease term and the weighted-average discount rate of leases are as follows: <table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfWeightedAverageLeaseTermAndDiscountRateOfLeasesTableTextBlock_zAkKjc6rovNf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of weighted-average remaining lease term and discount rate of leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="text-align: center; vertical-align: bottom">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Weighted average remaining lease terms</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">3.54</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">4.73</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.70%</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.70%</td><td style="text-align: left"> </td></tr> </table> During the years ended March 31, 2025 and 2024, the Group incurred total operating lease expenses of RMB1,779,212 (US$249,924) and RMB872,173, respectively. The following table summarizes the maturity of operating lease liabilities as of March 31, 2025: <table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zfPqqIniDOJ9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250331_zoPZAKX4DJZ" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">12 months ending March 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_zFVsny7MTNW5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: left">2026</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,218,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo_iI_zkZ0MyNLSADh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,176,115</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree_iI_zDz4KfVAWvif" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,379,569</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour_iI_zJshTGHc0cki" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,247,764</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_zgM82Z1cITQe" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Total lease payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,022,096</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ReceivableWithImputedInterestNetAmount_iNI_di_z8LkQECN1uii" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(861,298</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_iI_z7LsBxmUGr4j" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,160,798</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89D_eus-gaap--OperatingLeaseLeaseIncomeTableTextBlock_zko05iafFn4e" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of ROU assets and lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Operating lease right-of-use assets</td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20240331_zdXMoPAWg53l" style="border-bottom: Black 2.5pt double; width: 12%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">5,469,166</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20250331_zSDVF0OtgtZ4" style="border-bottom: Black 2.5pt double; width: 12%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">6,637,141</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseRightOfUseAsset_iI_uUSD_c20250331_zqhz8dqqMG7g" style="border-bottom: Black 2.5pt double; width: 12%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">932,314</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Operating lease liabilities, current</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20240331_zl8ESTlGAec" style="text-align: right" title="Operating lease liabilities, current">1,081,370</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20250331_zkCqwF9YQveh" style="text-align: right" title="Operating lease liabilities, current">1,814,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityCurrent_iI_uUSD_c20250331_zuvE4m3N7Xa9" style="text-align: right" title="Operating lease liabilities, current">254,821</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Operating lease liabilities, non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20240331_zTGUv9vSU68b" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">4,859,692</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20250331_zYccUCD3H3z5" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">5,346,727</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_uUSD_c20250331_zN1T7nslkHcb" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">751,050</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseLiability_iI_c20240331_zJy4tlpRpWWe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">5,941,062</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiability_iI_c20250331_zBo7oWCDauD3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">7,160,798</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--OperatingLeaseLiability_iI_uUSD_c20250331_zzyUhXkmsNC" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">1,005,871</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

5469166

6637141

932314

1081370

1814071

254821

4859692

5346727

751050

5941062

7160798

1005871

<table cellpadding="0" cellspacing="0" id="xdx_890_ecustom--ScheduleOfWeightedAverageLeaseTermAndDiscountRateOfLeasesTableTextBlock_zAkKjc6rovNf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of weighted-average remaining lease term and discount rate of leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="text-align: center; vertical-align: bottom">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 66%; text-align: left">Weighted average remaining lease terms</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">3.54</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">4.73</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.70%</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.70%</td><td style="text-align: left"> </td></tr> </table>

P3Y6M14D

P4Y8M23D

0.0670

1779212

249924

872173

<table cellpadding="0" cellspacing="0" id="xdx_895_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zfPqqIniDOJ9" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of operating lease liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250331_zoPZAKX4DJZ" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: left; font-weight: bold">12 months ending March 31,</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_zFVsny7MTNW5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; text-align: left">2026</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">2,218,648</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo_iI_zkZ0MyNLSADh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2027</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,176,115</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree_iI_zDz4KfVAWvif" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,379,569</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour_iI_zJshTGHc0cki" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">2029</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,247,764</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_zgM82Z1cITQe" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Total lease payment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">8,022,096</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--ReceivableWithImputedInterestNetAmount_iNI_di_z8LkQECN1uii" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">less: imputed interest</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(861,298</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_iI_z7LsBxmUGr4j" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,160,798</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

2218648

2176115

2379569

1247764

8022096

861298

7160798

11. Accrued expenses and other current liabilities The Group’s accrued expenses and other current liabilities consisted of the following: <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zHwwhZATncmh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accrued expenses and other current liabilities (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20240331_zorvL54LtQyj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20250331_zc8vtibj0M5h" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_ecustom--AccruedCreditPointsForOnlineStoreConsumption_iI_zn8XvvA75Zzi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: left">Accrued credit points for online store consumption (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">2,159,093</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">881,573</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--AccruedCreditPointsForOnlineStoreConsumption_iI_uUSD_c20250331_fKGkp_zDl4GFUtZ6T" style="width: 12%; text-align: right" title="Accrued credit points for online store consumption">123,834</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_z9sNfrQoVh15" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll and employee benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">431,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423,634</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_uUSD_c20250331_zCrWPw04RFnf" style="text-align: right" title="Accrued payroll and employee benefits">59,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ServiceChargePayableRelatedToMarketPromotion_iI_zTb96TXaU9Fj" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 5pt; text-align: justify; text-indent: -5pt">Service charge payable related to market promotion of DAKA merchant membership services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">288,836</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,403,548</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ServiceChargePayableRelatedToMarketPromotion_iI_uUSD_c20250331_z8OjTCMGmAnl" style="text-align: right" title="Service charge payable related to market promotion">197,155</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LoanToThirdparties_iI_ztaDNMB4U5Mh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Amount due to third-parties (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,584</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,226,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--LoanToThirdparties_iI_uUSD_c20250331_zFbYivTbeO5b" style="text-align: right" title="Loans to third-parties">874,692</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_z1hBG227OaKg" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">159,986</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">563,954</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_uUSD_c20250331_z6XIwJkNVzah" style="border-bottom: Black 1pt solid; text-align: right" title="Others">79,218</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iI_zM4XSgWmTNB6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,059,912</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,499,642</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iI_uUSD_c20250331_zUM3WekZR9m5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total">1,334,407</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 2%">(i)</td> <td style="width: 98%; text-align: justify">This amount represents the Company's estimated obligation related to unused customer reward points earned through qualifying purchases of sports watches. Points are accumulated based on customers' step counts and can be redeemed for products in the Company's online store. The liability is measured based on the expected value of future redemptions, estimated using historical redemption rates and current point balances.</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td>(ii)</td> <td style="text-align: justify">In fiscal year 2025, Fit-One entered into one-year unsecured loan agreements with its business partners of total RMB4,944,503 (US$694,550) with interest-free for its business development purpose.</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify">In fiscal year 2025, Dazhika entered into one-year unsecured loan agreements with its business partners of total RMB1,282,430 (US$180,142) with interest-free for its business development purpose.</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zHwwhZATncmh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accrued expenses and other current liabilities (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20240331_zorvL54LtQyj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20250331_zc8vtibj0M5h" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_ecustom--AccruedCreditPointsForOnlineStoreConsumption_iI_zn8XvvA75Zzi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: left">Accrued credit points for online store consumption (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">2,159,093</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">881,573</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--AccruedCreditPointsForOnlineStoreConsumption_iI_uUSD_c20250331_fKGkp_zDl4GFUtZ6T" style="width: 12%; text-align: right" title="Accrued credit points for online store consumption">123,834</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_z9sNfrQoVh15" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll and employee benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">431,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423,634</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_uUSD_c20250331_zCrWPw04RFnf" style="text-align: right" title="Accrued payroll and employee benefits">59,508</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--ServiceChargePayableRelatedToMarketPromotion_iI_zTb96TXaU9Fj" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 5pt; text-align: justify; text-indent: -5pt">Service charge payable related to market promotion of DAKA merchant membership services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">288,836</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,403,548</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ServiceChargePayableRelatedToMarketPromotion_iI_uUSD_c20250331_z8OjTCMGmAnl" style="text-align: right" title="Service charge payable related to market promotion">197,155</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--LoanToThirdparties_iI_ztaDNMB4U5Mh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Amount due to third-parties (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,584</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,226,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--LoanToThirdparties_iI_uUSD_c20250331_zFbYivTbeO5b" style="text-align: right" title="Loans to third-parties">874,692</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_z1hBG227OaKg" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">159,986</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">563,954</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_uUSD_c20250331_z6XIwJkNVzah" style="border-bottom: Black 1pt solid; text-align: right" title="Others">79,218</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iI_zM4XSgWmTNB6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,059,912</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,499,642</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iI_uUSD_c20250331_zUM3WekZR9m5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total">1,334,407</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 2%">(i)</td> <td style="width: 98%; text-align: justify">This amount represents the Company's estimated obligation related to unused customer reward points earned through qualifying purchases of sports watches. Points are accumulated based on customers' step counts and can be redeemed for products in the Company's online store. The liability is measured based on the expected value of future redemptions, estimated using historical redemption rates and current point balances.</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td>(ii)</td> <td style="text-align: justify">In fiscal year 2025, Fit-One entered into one-year unsecured loan agreements with its business partners of total RMB4,944,503 (US$694,550) with interest-free for its business development purpose.</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify">In fiscal year 2025, Dazhika entered into one-year unsecured loan agreements with its business partners of total RMB1,282,430 (US$180,142) with interest-free for its business development purpose.</td></tr> </table>

2159093 881573 123834

431413

423634

59508

288836 1403548 197155 20584 6226933 874692

159986

563954

79218

3059912

9499642

1334407

12. Related party transactions The Group had the following balances with related parties which consisted of the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 56%; text-align: center">Names of the related parties</td> <td style="width: 1%; text-align: justify"> </td> <td style="width: 43%; text-align: center">Relationship with the Group</td></tr> <tr style="vertical-align: top; background-color: rgb(238,238,238)"> <td>Lirong Liu</td> <td> </td> <td>Chairman of the Board</td></tr> <tr style="vertical-align: top; background-color: White"> <td>Conggang Chen</td> <td> </td> <td>The Vice Chairman of the Board</td></tr> <tr style="vertical-align: top; background-color: rgb(238,238,238)"> <td>Minghui Liu</td> <td> </td> <td>The General Manager</td></tr> </table> (a) Amounts due from related parties <table cellpadding="0" cellspacing="0" id="xdx_88B_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zzOcRHTcLTVc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Related party transactions (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of amounts due from related parties</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify; padding-bottom: 1pt">Lirong Liu</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--AmountsDueFromRelatedParties_iI_c20240331__srt--CounterpartyNameAxis__custom--LirongLiuMember_zyVn6c28HIM4" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Amounts due from related parties">126,400</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--AmountsDueFromRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--LirongLiuMember_zzVmn6XbZSLc" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Amounts due from related parties">1,339,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--AmountsDueFromRelatedParties_iI_uUSD_c20250331__srt--CounterpartyNameAxis__custom--LirongLiuMember_zWWH4dcnQT9" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Amounts due from related parties">188,088</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_ecustom--AmountsDueFromRelatedParties_iI_c20240331_z7lSaPuhAAlb" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">126,400</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_ecustom--AmountsDueFromRelatedParties_iI_c20250331_zskUhEsaCyC2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">1,339,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_ecustom--AmountsDueFromRelatedParties_iI_uUSD_c20250331_zKU4qnBgUq8k" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">188,088</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> (b) Amounts due to related parties <table cellpadding="0" cellspacing="0" id="xdx_898_ecustom--ScheduleOfDueToRelatedPartyTransactionsTableTextBlock_zEN3Tz5ShHmi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Related party transactions (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of amount due to related parties</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Minghui Liu (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_c20240331__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_zfRTLtp5IjPa" style="width: 12%; text-align: right" title="Amounts due to related parties">18,980,310</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--AmountsDueToRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_z8MIJaYv0zvi" style="width: 12%; text-align: right" title="Amounts due to related parties">19,418,353</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--AmountsDueToRelatedParties_iI_uUSD_c20250331__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_zQy96C0HtMj2" style="width: 12%; text-align: right" title="Amounts due to related parties">2,727,680</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Conggang Chen</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--AmountsDueToRelatedParties_iI_c20240331__srt--CounterpartyNameAxis__custom--ConggangChenMember_zI8Kjh6jfSHc" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">193,626</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_d0_c20250331__srt--CounterpartyNameAxis__custom--ConggangChenMember_zinYFZ0S3c65" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">691,369</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--AmountsDueToRelatedParties_iI_d0_uUSD_c20250331__srt--CounterpartyNameAxis__custom--ConggangChenMember_z1Z6u7Uetgvk" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">97,116</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_ecustom--AmountsDueToRelatedParties_iI_c20240331_ztXyhM0A7Hwk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">19,173,936</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_ecustom--AmountsDueToRelatedParties_iI_d0_c20250331_zeLfAQe2PeB9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">20,109,722</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_d0_uUSD_c20250331_zro1mJGOui93" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">2,824,796</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td id="xdx_F0D_zis6Fm4IdZi2" style="padding-left: 10pt; text-indent: -0.01pt; width: 3%">(i) </td> <td id="xdx_F1D_zk2EtqrlGP83" style="padding-left: 10pt; text-indent: -0.01pt; width: 97%">Minghui Liu provided the interest-free loans to the Group, which are repayable on demand based on Minghui Liu’s funding needs, to support the Group’s business operation.</td></tr> </table> (c) Loans guaranteed by principal shareholders of the Group As of March 31, 2024, the Group’s short-term loan was guaranteed by certain shareholders of the Group as discussed in Note 7 Short-term borrowings. There was no loan guaranteed by shareholders of the Group as of March 31, 2025.

<table cellpadding="0" cellspacing="0" id="xdx_88B_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zzOcRHTcLTVc" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Related party transactions (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of amounts due from related parties</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify; padding-bottom: 1pt">Lirong Liu</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--AmountsDueFromRelatedParties_iI_c20240331__srt--CounterpartyNameAxis__custom--LirongLiuMember_zyVn6c28HIM4" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Amounts due from related parties">126,400</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--AmountsDueFromRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--LirongLiuMember_zzVmn6XbZSLc" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Amounts due from related parties">1,339,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_984_ecustom--AmountsDueFromRelatedParties_iI_uUSD_c20250331__srt--CounterpartyNameAxis__custom--LirongLiuMember_zWWH4dcnQT9" style="border-bottom: Black 1pt solid; width: 12%; text-align: right" title="Amounts due from related parties">188,088</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_ecustom--AmountsDueFromRelatedParties_iI_c20240331_z7lSaPuhAAlb" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">126,400</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_ecustom--AmountsDueFromRelatedParties_iI_c20250331_zskUhEsaCyC2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">1,339,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_ecustom--AmountsDueFromRelatedParties_iI_uUSD_c20250331_zKU4qnBgUq8k" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">188,088</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

126400 1339000 188088 126400 1339000 188088 <table cellpadding="0" cellspacing="0" id="xdx_898_ecustom--ScheduleOfDueToRelatedPartyTransactionsTableTextBlock_zEN3Tz5ShHmi" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Related party transactions (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of amount due to related parties</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Minghui Liu (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_c20240331__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_zfRTLtp5IjPa" style="width: 12%; text-align: right" title="Amounts due to related parties">18,980,310</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--AmountsDueToRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_z8MIJaYv0zvi" style="width: 12%; text-align: right" title="Amounts due to related parties">19,418,353</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_ecustom--AmountsDueToRelatedParties_iI_uUSD_c20250331__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_zQy96C0HtMj2" style="width: 12%; text-align: right" title="Amounts due to related parties">2,727,680</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Conggang Chen</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_ecustom--AmountsDueToRelatedParties_iI_c20240331__srt--CounterpartyNameAxis__custom--ConggangChenMember_zI8Kjh6jfSHc" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">193,626</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_d0_c20250331__srt--CounterpartyNameAxis__custom--ConggangChenMember_zinYFZ0S3c65" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">691,369</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--AmountsDueToRelatedParties_iI_d0_uUSD_c20250331__srt--CounterpartyNameAxis__custom--ConggangChenMember_z1Z6u7Uetgvk" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">97,116</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_ecustom--AmountsDueToRelatedParties_iI_c20240331_ztXyhM0A7Hwk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">19,173,936</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_ecustom--AmountsDueToRelatedParties_iI_d0_c20250331_zeLfAQe2PeB9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">20,109,722</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_d0_uUSD_c20250331_zro1mJGOui93" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">2,824,796</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table border="0" cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"> <tr style="vertical-align: top"> <td id="xdx_F0D_zis6Fm4IdZi2" style="padding-left: 10pt; text-indent: -0.01pt; width: 3%">(i) </td> <td id="xdx_F1D_zk2EtqrlGP83" style="padding-left: 10pt; text-indent: -0.01pt; width: 97%">Minghui Liu provided the interest-free loans to the Group, which are repayable on demand based on Minghui Liu’s funding needs, to support the Group’s business operation.</td></tr> </table> 18980310 19418353 2727680 193626 691369 97116 19173936 20109722 2824796 13. Selling and marketing expenses <table cellpadding="0" cellspacing="0" id="xdx_88F_ecustom--SellingAndMarketingExpensesTableTextBlock_zHPmGD9NNHn4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Selling and marketing expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of selling and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20230401__20240331_zOJ4IXv6YYIc" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20240401__20250331_zMTXxWhZ4Hgj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zT2VkXvCidUa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,241,662</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,615,800</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--LaborAndRelatedExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zyP9YOafdbF" style="width: 12%; text-align: right" title="Salaries and employee benefit">226,970</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AdvertisingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zR3FBxsCKh6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Advertising expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,087,180</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,288,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AdvertisingExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zOiYS05lmPm6" style="text-align: right" title="Advertising expenses">181,041</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--MarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zYtZ61lmlxg4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 5pt; text-align: justify; text-indent: -5pt">Market promotion service fee related to the business development of DAKA merchant membership services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,856,156</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,348,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--MarketingExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zm4lKWgf0nPl" style="text-align: right" title="Market promotion service fee">6,229,545</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--TravelAndEntertainmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zeXeBJw3Dfzh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">998,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">755,844</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--TravelAndEntertainmentExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zJyfEF6ADLTg" style="text-align: right" title="Travel, Meals and Entertainment">106,173</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--Rental_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zg588DUAOCGd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,813</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--Rental_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_z6D56QWHwmTd" style="text-align: right" title="Rental">2,277</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zmjjvj82gEfg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,674</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">82,466</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Depreciation_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zOrc1AqvvU7c" style="text-align: right" title="Depreciation">11,584</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AccruedCreditPointForOnlineStoresConsumption_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zpxD0J0Q7IJh" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Accrued credit points for online store consumption</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,159,093</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">881,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--AccruedCreditPointForOnlineStoresConsumption_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zdsmNDEzaME2" style="text-align: right" title="Accrued credit points for online store consumption">123,834</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherSellingAndMarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zTVVuGxrj1S8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">520,484</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">348,286</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherSellingAndMarketingExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zoM19TiOUIm3" style="border-bottom: Black 1pt solid; text-align: right" title="Others">48,923</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--SellingAndMarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zpP8kMbJB41d" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total selling and marketing expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">22,995,405</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">49,337,137</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--SellingAndMarketingExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_z381MCEwhfma" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total selling and marketing expenses">6,930,347</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_88F_ecustom--SellingAndMarketingExpensesTableTextBlock_zHPmGD9NNHn4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Selling and marketing expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of selling and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20230401__20240331_zOJ4IXv6YYIc" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20240401__20250331_zMTXxWhZ4Hgj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zT2VkXvCidUa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,241,662</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,615,800</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--LaborAndRelatedExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zyP9YOafdbF" style="width: 12%; text-align: right" title="Salaries and employee benefit">226,970</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AdvertisingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zR3FBxsCKh6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Advertising expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,087,180</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,288,830</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--AdvertisingExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zOiYS05lmPm6" style="text-align: right" title="Advertising expenses">181,041</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--MarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zYtZ61lmlxg4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-left: 5pt; text-align: justify; text-indent: -5pt">Market promotion service fee related to the business development of DAKA merchant membership services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,856,156</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">44,348,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--MarketingExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zm4lKWgf0nPl" style="text-align: right" title="Market promotion service fee">6,229,545</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--TravelAndEntertainmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zeXeBJw3Dfzh" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">998,343</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">755,844</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--TravelAndEntertainmentExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zJyfEF6ADLTg" style="text-align: right" title="Travel, Meals and Entertainment">106,173</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--Rental_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zg588DUAOCGd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">113,813</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,207</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--Rental_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_z6D56QWHwmTd" style="text-align: right" title="Rental">2,277</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zmjjvj82gEfg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,674</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">82,466</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Depreciation_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zOrc1AqvvU7c" style="text-align: right" title="Depreciation">11,584</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_ecustom--AccruedCreditPointForOnlineStoresConsumption_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zpxD0J0Q7IJh" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Accrued credit points for online store consumption</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,159,093</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">881,572</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--AccruedCreditPointForOnlineStoresConsumption_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zdsmNDEzaME2" style="text-align: right" title="Accrued credit points for online store consumption">123,834</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OtherSellingAndMarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zTVVuGxrj1S8" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">520,484</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">348,286</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--OtherSellingAndMarketingExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zoM19TiOUIm3" style="border-bottom: Black 1pt solid; text-align: right" title="Others">48,923</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--SellingAndMarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zpP8kMbJB41d" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total selling and marketing expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">22,995,405</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">49,337,137</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--SellingAndMarketingExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_z381MCEwhfma" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total selling and marketing expenses">6,930,347</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1241662

1615800

226970

1087180

1288830

181041

16856156

44348132

6229545

998343

755844

106173

113813 16207 2277

18674

82466

11584

2159093 881572 123834

520484

348286

48923

22995405

49337137

6930347

14. General and administrative expenses <table cellpadding="0" cellspacing="0" id="xdx_88D_ecustom--GeneralAndAdministrativeExpensesTableTextBlock_zCMeoKfUX3n" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - General and administrative expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of general and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20230401__20240331_z9ZbyQ6EDN25" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20240401__20250331_zBGeGahwUswf" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zD0ltSeQJDXk" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">2,929,142</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">3,108,053</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--LaborAndRelatedExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zFbQheskT9Bk" style="width: 12%; text-align: right" title="Salaries and employee benefit">436,586</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ServiceCharge_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zzjlf2RGKHv6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Service charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,402,078</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,635,935</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ServiceCharge_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_z4gY2VmIQvw1" style="text-align: right" title="Service charge">651,206</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--TravelAndEntertainmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_z7px44mkEh61" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">850,851</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">373,576</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--TravelAndEntertainmentExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zD4NUQzrl6zc" style="text-align: right" title="Travel, Meals and Entertainment">52,476</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--Rental_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zBsPSsGMprE1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,185,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,832,580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--Rental_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zF7MAZaNMsO5" style="text-align: right" title="Rental">257,421</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zf1ak2Fk5yT7" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127,339</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--Depreciation_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zCzfDDwD9ZCf" style="text-align: right" title="Depreciation">22,425</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherGeneralAndAdministrativeExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zCp4PfBmLZb5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">942,110</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">708,360</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherGeneralAndAdministrativeExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zGg6xf4HXTM5" style="border-bottom: Black 1pt solid; text-align: right" title="Others">99,502</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zPHjOgobSS59" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total general and administrative expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,436,963</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,818,146</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--GeneralAndAdministrativeExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zAR1Rj9B6A23" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total general and administrative expenses">1,519,616</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_88D_ecustom--GeneralAndAdministrativeExpensesTableTextBlock_zCMeoKfUX3n" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - General and administrative expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of general and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20230401__20240331_z9ZbyQ6EDN25" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20240401__20250331_zBGeGahwUswf" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zD0ltSeQJDXk" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">2,929,142</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">3,108,053</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_eus-gaap--LaborAndRelatedExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zFbQheskT9Bk" style="width: 12%; text-align: right" title="Salaries and employee benefit">436,586</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ServiceCharge_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zzjlf2RGKHv6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Service charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,402,078</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,635,935</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--ServiceCharge_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_z4gY2VmIQvw1" style="text-align: right" title="Service charge">651,206</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--TravelAndEntertainmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_z7px44mkEh61" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">850,851</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">373,576</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--TravelAndEntertainmentExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zD4NUQzrl6zc" style="text-align: right" title="Travel, Meals and Entertainment">52,476</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_ecustom--Rental_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zBsPSsGMprE1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,185,443</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,832,580</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_ecustom--Rental_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zF7MAZaNMsO5" style="text-align: right" title="Rental">257,421</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zf1ak2Fk5yT7" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">127,339</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">159,642</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--Depreciation_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zCzfDDwD9ZCf" style="text-align: right" title="Depreciation">22,425</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherGeneralAndAdministrativeExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zCp4PfBmLZb5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">942,110</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">708,360</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--OtherGeneralAndAdministrativeExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zGg6xf4HXTM5" style="border-bottom: Black 1pt solid; text-align: right" title="Others">99,502</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--GeneralAndAdministrativeExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zPHjOgobSS59" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total general and administrative expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,436,963</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,818,146</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--GeneralAndAdministrativeExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpensesMember_zAR1Rj9B6A23" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total general and administrative expenses">1,519,616</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

2929142

3108053

436586

3402078 4635935 651206

850851

373576

52476

1185443 1832580 257421

127339

159642

22425

942110

708360

99502

9436963

10818146

1519616

15. Research and development expenses <table cellpadding="0" cellspacing="0" id="xdx_886_ecustom--ResearchAndDevelopmentExpensesTableTextBlock_zge6AImlf4H8" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Research and development expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of research and development expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20230401__20240331_zPmXprGAb7Xb" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20240401__20250331_zIrV22bnG7ch" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zmdAr6TE3Mqj" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,029,478</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">2,202,044</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--LaborAndRelatedExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zjbIaU8IbVm" style="width: 12%; text-align: right" title="Salaries and employee benefit">309,319</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ServiceCharge_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zBN5LeMcvqK6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Service charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,725,980</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,154,856</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ServiceCharge_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zeJrenp59uNd" style="text-align: right" title="Service charge">302,691</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--TravelAndEntertainmentExpense_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zJUuzhGPpEid" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--TravelAndEntertainmentExpense_d0_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z7KPtaxIzDmg" style="text-align: right" title="Travel, Meals and Entertainment">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--Rental_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zmjsCHuyWDO" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,811</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--Rental_d0_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zQl3EB6oZVI5" style="text-align: right" title="Rental">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zMTk9xvKTRDe" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Depreciation_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zZ5Jcr1iWH4b" style="text-align: right" title="Depreciation">2,023</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherResearchAndDevelopmentExpense_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z44pEUzVuhX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,561</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherResearchAndDevelopmentExpense_d0_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zVkNNcKdSEgd" style="border-bottom: Black 1pt solid; text-align: right" title="Others">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zDtrMAAr6yQk" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt"> Total research and development expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,809,699</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,371,300</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--ResearchAndDevelopmentExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z9oCG8A9MFC1" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total general and administrative expenses">614,033</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_886_ecustom--ResearchAndDevelopmentExpensesTableTextBlock_zge6AImlf4H8" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Research and development expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Schedule of research and development expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20230401__20240331_zPmXprGAb7Xb" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20240401__20250331_zIrV22bnG7ch" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zmdAr6TE3Mqj" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,029,478</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">2,202,044</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--LaborAndRelatedExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zjbIaU8IbVm" style="width: 12%; text-align: right" title="Salaries and employee benefit">309,319</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--ServiceCharge_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zBN5LeMcvqK6" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Service charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,725,980</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,154,856</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_ecustom--ServiceCharge_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zeJrenp59uNd" style="text-align: right" title="Service charge">302,691</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--TravelAndEntertainmentExpense_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zJUuzhGPpEid" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--TravelAndEntertainmentExpense_d0_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z7KPtaxIzDmg" style="text-align: right" title="Travel, Meals and Entertainment">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--Rental_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zmjsCHuyWDO" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,811</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_ecustom--Rental_d0_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zQl3EB6oZVI5" style="text-align: right" title="Rental">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zMTk9xvKTRDe" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,400</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--Depreciation_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zZ5Jcr1iWH4b" style="text-align: right" title="Depreciation">2,023</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherResearchAndDevelopmentExpense_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z44pEUzVuhX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,561</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--OtherResearchAndDevelopmentExpense_d0_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zVkNNcKdSEgd" style="border-bottom: Black 1pt solid; text-align: right" title="Others">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--ResearchAndDevelopmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zDtrMAAr6yQk" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt"> Total research and development expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,809,699</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,371,300</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--ResearchAndDevelopmentExpense_uUSD_c20240401__20250331__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z9oCG8A9MFC1" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total general and administrative expenses">614,033</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1029478

2202044

309319

1725980 2154856 302691

5869

29811 0 0

14400

2023

18561

2809699

4371300

614033

16. Income Taxes (a) Corporate Income Taxes (“CIT”) Cayman Islands The Group is incorporated in the Cayman Islands and is not subject to tax on income or capital gains under the laws of Cayman Islands. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. Hong Kong Mingde HK is incorporated in Hong Kong and is subject to profit taxes in Hong Kong at a rate of 8.25% on assessable profits up to HK$2,000,000, and 16.5% on any part of assessable profits over HK$2,000,000. However, Mingde HK did not generate any assessable profits arising in or derived from Hong Kong for the years ended March 31, 2025 and 2024, and accordingly no provision for Hong Kong profits tax has been made in these periods. PRC The Group is governed by the income tax laws of the PRC and the income tax provision in respect to operations in the PRC is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Enterprise Income Tax Laws of the PRC (the “EIT Laws”), Chinese enterprises are subjected to income tax at a rate of 25% after appropriate tax adjustments. The Ministry of Finance (“MOF”) and State Administration of Taxation (“SAT”) on January 17, 2019 jointly issued Cai Shui 2019 No. 13. This clarified that from January 1, 2019 to December 31, 2021, eligible small enterprises whose RMB1,000 of annual taxable income is eligible for a 75% reduction on a rate of 20% (i.e., effective rate is 5%) and the income between RMB 1,000,000 and RMB3,000,000 is eligible for 50% reduction on a rate of 20% (i.e., effective rate is 10%). On April 2, 2021, MOF and SAT further jointly issued Cai Shui 2021 No. 12, which clarified that from January 1, 2021 to December 31, 2022, eligible small enterprises whose RMB1,000,000 of annual taxable income is eligible for an extra 50% reduction base on Cai Shui 2019 No. 13 (i.e., effective rate is 2.5%). On March 14, 2022, MOF and SAT further jointly issued Cai Shui 2022 No. 13, which clarified that from January 1, 2022 to December 31, 2024, eligible small enterprises whose income between RMB1,000,000 and RMB3,000,000 is eligible for an extra 50% reduction base on Cai Shui 2019 No. 13 (i.e., effective rate is 5%). On August 2, 2023, MOF and SAT further jointly issued Cai Shui 2023 No. 12, which clarified that from January 1, 2023 to December 31, 2027, eligible small enterprises whose RMB1,000,000 of annual taxable income is eligible for an extra 75% reduction on a rate of 20% (i.e., effective rate is 5%). For the years ended March 31, 2025 and 2024, except Fit-One which qualified for “high and new technology enterprise” or HNTE on December 16, 2021 and entitled to an EIT rate of 15%, expiring after December 16, 2024, all the Group’s VIE’s subsidiaries registered in PRC were eligible to employ this policy The following table presented the composition of income tax expenses for the years ended March 31, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_ztjitSZU2OOe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Schedule of composition of income tax expenses</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_49C_20230401__20240331_zD0bizBx8aa6" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_495_20240401__20250331_zZIkOCKnUcXl" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td colspan="9" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">2024</td><td style="vertical-align: bottom; padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">2025</td><td style="vertical-align: bottom; padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center">RMB</td><td style="vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center">RMB</td><td style="vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center">US$</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentIncomeTaxExpenseBenefit_d0_z26DYvBnmz75" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Current income tax expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--CurrentIncomeTaxExpenseBenefit_d0_uUSD_c20240401__20250331_zm06qVgStZX4" style="width: 12%; text-align: right" title="Current income tax expense">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredIncomeTaxExpenseBenefit_d0_zXR3ND9F0wei" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Deferred income tax (benefit)/expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredIncomeTaxExpenseBenefit_d0_uUSD_c20240401__20250331_zTIixDb73tqe" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred income tax expense">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--TotalIncomeTaxExpenses_d0_zfV4CVhLGoUa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total income tax expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_ecustom--TotalIncomeTaxExpenses_d0_uUSD_c20240401__20250331_zGAkNsBGtlLg" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total income tax expenses">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The reconciliation of the effective tax rate and the statutory income tax rate applicable to PRC operations was as follow: <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zUMLj1qn7Pkl" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of reconciliation of the effective tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20230401__20240331_zc8z0y3Xcyq5" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20240401__20250331_zTWEVEwlJVw5" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_zQQhk0GhYSz7" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: left">(Loss)/profit before provision for income taxes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(11,565,768</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">7,334,830</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_uUSD_c20240401__20250331_z1fPRFARhzqh" style="width: 12%; text-align: right" title="Income before provision for income taxes">1,030,317</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--EffectiveIncomeTaxRateReconciliationsBeatAmount_iN_di_z2viMNwjii0i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax benefit computed at an applicable tax rate of 25%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,891,442</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,833,708</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--EffectiveIncomeTaxRateReconciliationsBeatAmount_iN_di_uUSD_c20240401__20250331_z77dSxoQmRI2" style="text-align: right" title="Income tax expense computed at an applicable tax rate of 25%">257,579</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--EffectOfPreferentialTaxRateForSmallAndMicroEnterprises_ztUoGCaAYwm5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Effect of preferential tax rate for small and micro enterprises</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">555,107</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,378,838</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--EffectOfPreferentialTaxRateForSmallAndMicroEnterprises_uUSD_c20240401__20250331_z6VbU7A0Oclj" style="text-align: right" title="Effect of preferential tax rate for small and micro enterprises">(193,684</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--SuperDeductionForResearchAndDevelopmentExpense_zEnSwXX8phk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Super deduction for research and development expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(421,455</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(655,695</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--SuperDeductionForResearchAndDevelopmentExpense_uUSD_c20240401__20250331_zZMzRe47pq6h" style="text-align: right" title="Super deduction for research and development expense">(92,105</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_zAUFfMQr0pJ4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Effect of non-deductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">182,921</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,574</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_uUSD_c20240401__20250331_zlFeBePBXiFe" style="text-align: right" title="Effect of non-deductible items">4,716</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ChangesInValuationAllowance_zJzLKIiBSgCj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Changes in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,574,869</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">167,251</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--ChangesInValuationAllowance_uUSD_c20240401__20250331_zSfJWpfYYa34" style="border-bottom: Black 1pt solid; text-align: right" title="Changes in valuation allowance">23,494</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_iN_di0_zAG850Z4QwWa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Effective income tax rate</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--IncomeTaxExpenseBenefit_iN_di0_uUSD_c20240401__20250331_zGjiJqXImvQ" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Effective income tax rate">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Deferred Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Group’s deferred tax assets and deferred tax liabilities were as follows: <table cellpadding="0" cellspacing="0" id="xdx_898_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_ziDmzkhnI774" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of deferred tax assets and deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20240331_zrXbkjnpTa2a" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20250331_zIgk3yklImC3" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zDvBGdyQJ8ib" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--DeferredTaxOperatingLeaseLiabilities_iI_zCsY99ToW8Id" style="vertical-align: bottom; background-color: White"> <td style="width: 55%; text-align: left">Operating lease liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">891,159</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,087,659</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--DeferredTaxOperatingLeaseLiabilities_iI_uUSD_c20250331_zFHf3WSWfM25" style="width: 12%; text-align: right" title="Operating lease liabilities">152,783</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zYAh0H3Ju166" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Net operating loss carry forward</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,122,994</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,282,801</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_uUSD_c20250331_zc2NjTtOZX99" style="border-bottom: Black 1pt solid; text-align: right" title="Net operating loss carry forward">1,023,009</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iI_z73B3xBYt7hg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total deferred tax assets</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,014,153</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,370,460</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--DeferredTaxAssetsGross_iI_uUSD_c20250331_z8iTB615SFCe" style="font-weight: bold; text-align: right" title="Total deferred tax assets">1,175,792</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--DeferredTaxAssetValuationAllowance_iNI_di_zQvuVjRPyJbf" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Less: valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,193,778</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,361,029</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--DeferredTaxAssetValuationAllowance_iNI_di_uUSD_c20250331_zsipa7O63IYf" style="border-bottom: Black 1pt solid; text-align: right" title="Less: valuation allowance">(1,033,998</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsNet_iI_zKcB6qAPAg9c" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax assets, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">820,375</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,009,431</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--DeferredTaxAssetsNet_iI_uUSD_c20250331_zbIg9Rebwh49" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deferred tax assets, net">141,794</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesAbstract_iB_z1tRQ0A3XHNf" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iNI_di_z98KSiNW4jJ5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease right of use assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(820,375</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,009,431</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iNI_di_uUSD_c20250331_zS0OqqLD4qJ6" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease right of use assets">(141,794</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iNI_di_zmu55KFakvP3" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax liabilities, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(820,375</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(1,009,431</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iNI_di_uUSD_c20250331_zCLx9Q8rt0O4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deferred tax liabilities, net">(141,794</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxLiabilities_iI_d0_zpaDpx2rJKt1" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total deferred tax</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--DeferredTaxLiabilities_iI_d0_uUSD_c20250331_zCkSM9Ubfwy2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total deferred tax">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Net change in the valuation allowance of deferred tax assets is summarized as follows: <table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--SummaryOfValuationAllowanceTextBlock_zCItyF0p1iBf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 3)"> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Schedule of change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_494_20240401__20250331_zSbaugkW0mfj" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsNetOfValuationAllowanceAbstract_iB_zYswjKCGru2i" style="vertical-align: bottom"> <td style="font-weight: bold">Net change of valuation allowance of deferred tax</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; font-weight: bold">Balance @03/31/2023</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredTaxAssetsValuationAllowance_iS_c20230401__20240331_zZWBFlTruGG2" style="width: 14%; font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at beginning balance">4,618,909</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Additions during FY2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--AdditionsAdditionsValuationAllowanceDeferredTaxAssets_c20230401__20240331_zTDM6xHds08h" style="border-bottom: Black 1pt solid; text-align: right" title="Additions additions valuation allowance deferred tax assets">2,574,869</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold">Balance @03/31/2024</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--DeferredTaxAssetsValuationAllowance_iS_c20240401__20250331_zWAmqdwMDyE9" style="font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at beginning balance">7,193,778</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Additions during FY2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--AdditionsAdditionsValuationAllowanceDeferredTaxAssets_c20240401__20250331_z5n1fMqgn0xe" style="border-bottom: Black 1pt solid; text-align: right" title="Additions additions valuation allowance deferred tax assets">167,251</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; padding-bottom: 1pt">Balance @03/31/2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxAssetsValuationAllowance_iE_c20240401__20250331_zELhmKRcYB4k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at ending balance">7,361,029</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table> The Group periodically evaluates the likelihood of the realization of deferred tax assets, and reduces the carrying amount of the deferred tax assets by a valuation allowance to the extent it believes a portion will not be realized. Management considers new evidence, both positive and negative, that could affect the Group’s future realization of deferred tax assets including its recent cumulative earnings experience, expectation of future income, the carry forward periods available for tax reporting purposes and other relevant factors. The Group determined that it is more likely than not its deferred tax assets could not be realized due to uncertainties in the evolving business landscape and market dynamics in future. In accordance with prudent accounting practices, the Group provided a 100% valuation allowance for its deferred tax assets as of March 31, 2025 and 2024, respectively. (b) Taxes payable Taxes payable consists of the following: <table cellpadding="0" cellspacing="0" id="xdx_895_ecustom--ScheduleOfTaxesPayableTableTextBlock_zRDgLXKdKj5h" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Schedule of taxes payable</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_493_20240331_zhMFT43LqsX7" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_498_20250331_zSf4XNLxY0wf" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_zIOHuG78J2R9" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: left">Value-added tax payable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4,358,746</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">10,399,477</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_uUSD_c20250331_zajOPUrgc3dk" style="width: 12%; text-align: right" title="Value-added tax payable">1,460,806</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--OtherTaxesPayable_iI_zB26GjoXdrLa" style="vertical-align: bottom; background-color: White"> <td id="xdx_F48_zHVIGpbIp5ml" style="text-align: left; padding-bottom: 1pt">Other taxes payable (i)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,151</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,055</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--OtherTaxesPayable_iI_uUSD_c20250331_fKGkp_zJeTdu9hnINj" style="border-bottom: Black 1pt solid; text-align: right" title="Other taxes payable">1,974</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_z0oa0RSLaDJg" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total taxes payable</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,383,897</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,413,532</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_uUSD_c20250331_z5owLaM9ZA53" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total taxes payable">1,462,780</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4px"> </td> <td style="width: 48px">(i)</td> <td style="text-align: justify">Other taxes payable mainly includes the payable of urban construction tax, education surcharge and individual income taxes.</td></tr> </table> (c) Uncertain tax positions The Group evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of March 31, 2025 and 2024, the Group did not have any significant unrecognized uncertain tax positions. The Group did not accrue any liability, interest or penalties related to uncertain tax positions in its provision for income taxes line of its consolidated statements of operations for the years ended March 31, 2025 and 2024.

0.0825

2000000

0.165

2000000

<table cellpadding="0" cellspacing="0" id="xdx_893_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_ztjitSZU2OOe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Schedule of composition of income tax expenses</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_49C_20230401__20240331_zD0bizBx8aa6" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_495_20240401__20250331_zZIkOCKnUcXl" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td colspan="9" style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">2024</td><td style="vertical-align: bottom; padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; padding-bottom: 1pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">2025</td><td style="vertical-align: bottom; padding-bottom: 1pt; font-weight: bold; text-align: center"> </td><td style="text-align: center; padding-bottom: 1pt; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> </td><td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center">RMB</td><td style="vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center">RMB</td><td style="vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="text-align: center; font-weight: bold; vertical-align: bottom"> </td> <td style="vertical-align: bottom; font-weight: bold; text-align: center"> </td><td style="vertical-align: bottom; font-weight: bold; text-align: center">US$</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentIncomeTaxExpenseBenefit_d0_z26DYvBnmz75" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: justify">Current income tax expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--CurrentIncomeTaxExpenseBenefit_d0_uUSD_c20240401__20250331_zm06qVgStZX4" style="width: 12%; text-align: right" title="Current income tax expense">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredIncomeTaxExpenseBenefit_d0_zXR3ND9F0wei" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Deferred income tax (benefit)/expense</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredIncomeTaxExpenseBenefit_d0_uUSD_c20240401__20250331_zTIixDb73tqe" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred income tax expense">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--TotalIncomeTaxExpenses_d0_zfV4CVhLGoUa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total income tax expenses</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_ecustom--TotalIncomeTaxExpenses_d0_uUSD_c20240401__20250331_zGAkNsBGtlLg" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total income tax expenses">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

0 0 0

<table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zUMLj1qn7Pkl" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of reconciliation of the effective tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20230401__20240331_zc8z0y3Xcyq5" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20240401__20250331_zTWEVEwlJVw5" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td></td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the years ended March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_zQQhk0GhYSz7" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: left">(Loss)/profit before provision for income taxes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">(11,565,768</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">7,334,830</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_uUSD_c20240401__20250331_z1fPRFARhzqh" style="width: 12%; text-align: right" title="Income before provision for income taxes">1,030,317</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--EffectiveIncomeTaxRateReconciliationsBeatAmount_iN_di_z2viMNwjii0i" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax benefit computed at an applicable tax rate of 25%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,891,442</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,833,708</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--EffectiveIncomeTaxRateReconciliationsBeatAmount_iN_di_uUSD_c20240401__20250331_z77dSxoQmRI2" style="text-align: right" title="Income tax expense computed at an applicable tax rate of 25%">257,579</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--EffectOfPreferentialTaxRateForSmallAndMicroEnterprises_ztUoGCaAYwm5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Effect of preferential tax rate for small and micro enterprises</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">555,107</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,378,838</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--EffectOfPreferentialTaxRateForSmallAndMicroEnterprises_uUSD_c20240401__20250331_z6VbU7A0Oclj" style="text-align: right" title="Effect of preferential tax rate for small and micro enterprises">(193,684</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_ecustom--SuperDeductionForResearchAndDevelopmentExpense_zEnSwXX8phk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Super deduction for research and development expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(421,455</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(655,695</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--SuperDeductionForResearchAndDevelopmentExpense_uUSD_c20240401__20250331_zZMzRe47pq6h" style="text-align: right" title="Super deduction for research and development expense">(92,105</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_zAUFfMQr0pJ4" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Effect of non-deductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">182,921</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">33,574</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_uUSD_c20240401__20250331_zlFeBePBXiFe" style="text-align: right" title="Effect of non-deductible items">4,716</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ChangesInValuationAllowance_zJzLKIiBSgCj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Changes in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,574,869</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">167,251</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--ChangesInValuationAllowance_uUSD_c20240401__20250331_zSfJWpfYYa34" style="border-bottom: Black 1pt solid; text-align: right" title="Changes in valuation allowance">23,494</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_iN_di0_zAG850Z4QwWa" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Effective income tax rate</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--IncomeTaxExpenseBenefit_iN_di0_uUSD_c20240401__20250331_zGjiJqXImvQ" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Effective income tax rate">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

-11565768

7334830

1030317

2891442 -1833708 -257579 555107 -1378838 -193684 -421455 -655695 -92105

182921

33574

4716

2574869 167251 23494

-0

<table cellpadding="0" cellspacing="0" id="xdx_898_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_ziDmzkhnI774" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of deferred tax assets and deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20240331_zrXbkjnpTa2a" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20250331_zIgk3yklImC3" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zDvBGdyQJ8ib" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--DeferredTaxOperatingLeaseLiabilities_iI_zCsY99ToW8Id" style="vertical-align: bottom; background-color: White"> <td style="width: 55%; text-align: left">Operating lease liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">891,159</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">1,087,659</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--DeferredTaxOperatingLeaseLiabilities_iI_uUSD_c20250331_zFHf3WSWfM25" style="width: 12%; text-align: right" title="Operating lease liabilities">152,783</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zYAh0H3Ju166" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Net operating loss carry forward</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,122,994</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,282,801</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_uUSD_c20250331_zc2NjTtOZX99" style="border-bottom: Black 1pt solid; text-align: right" title="Net operating loss carry forward">1,023,009</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iI_z73B3xBYt7hg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total deferred tax assets</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,014,153</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,370,460</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--DeferredTaxAssetsGross_iI_uUSD_c20250331_z8iTB615SFCe" style="font-weight: bold; text-align: right" title="Total deferred tax assets">1,175,792</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--DeferredTaxAssetValuationAllowance_iNI_di_zQvuVjRPyJbf" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Less: valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,193,778</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,361,029</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--DeferredTaxAssetValuationAllowance_iNI_di_uUSD_c20250331_zsipa7O63IYf" style="border-bottom: Black 1pt solid; text-align: right" title="Less: valuation allowance">(1,033,998</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsNet_iI_zKcB6qAPAg9c" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax assets, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">820,375</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,009,431</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--DeferredTaxAssetsNet_iI_uUSD_c20250331_zbIg9Rebwh49" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deferred tax assets, net">141,794</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesAbstract_iB_z1tRQ0A3XHNf" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iNI_di_z98KSiNW4jJ5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease right of use assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(820,375</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,009,431</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iNI_di_uUSD_c20250331_zS0OqqLD4qJ6" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease right of use assets">(141,794</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iNI_di_zmu55KFakvP3" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax liabilities, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(820,375</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(1,009,431</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iNI_di_uUSD_c20250331_zCLx9Q8rt0O4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deferred tax liabilities, net">(141,794</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxLiabilities_iI_d0_zpaDpx2rJKt1" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total deferred tax</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--DeferredTaxLiabilities_iI_d0_uUSD_c20250331_zCkSM9Ubfwy2" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total deferred tax">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

891159 1087659 152783

7122994

7282801

1023009

8014153

8370460

1175792

7193778 7361029 1033998

820375

1009431

141794

820375

1009431

141794

820375

1009431

141794

<table cellpadding="0" cellspacing="0" id="xdx_89A_eus-gaap--SummaryOfValuationAllowanceTextBlock_zCItyF0p1iBf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 3)"> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-bottom: 1pt">Schedule of change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_494_20240401__20250331_zSbaugkW0mfj" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsNetOfValuationAllowanceAbstract_iB_zYswjKCGru2i" style="vertical-align: bottom"> <td style="font-weight: bold">Net change of valuation allowance of deferred tax</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 83%; font-weight: bold">Balance @03/31/2023</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredTaxAssetsValuationAllowance_iS_c20230401__20240331_zZWBFlTruGG2" style="width: 14%; font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at beginning balance">4,618,909</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Additions during FY2024</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_ecustom--AdditionsAdditionsValuationAllowanceDeferredTaxAssets_c20230401__20240331_zTDM6xHds08h" style="border-bottom: Black 1pt solid; text-align: right" title="Additions additions valuation allowance deferred tax assets">2,574,869</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold">Balance @03/31/2024</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--DeferredTaxAssetsValuationAllowance_iS_c20240401__20250331_zWAmqdwMDyE9" style="font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at beginning balance">7,193,778</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Additions during FY2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--AdditionsAdditionsValuationAllowanceDeferredTaxAssets_c20240401__20250331_z5n1fMqgn0xe" style="border-bottom: Black 1pt solid; text-align: right" title="Additions additions valuation allowance deferred tax assets">167,251</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; padding-bottom: 1pt">Balance @03/31/2025</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxAssetsValuationAllowance_iE_c20240401__20250331_zELhmKRcYB4k" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at ending balance">7,361,029</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> </table>

4618909

2574869

7193778

167251

7361029

<table cellpadding="0" cellspacing="0" id="xdx_895_ecustom--ScheduleOfTaxesPayableTableTextBlock_zRDgLXKdKj5h" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Schedule of taxes payable</td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_493_20240331_zhMFT43LqsX7" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td id="xdx_498_20250331_zSf4XNLxY0wf" style="text-align: center"> </td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_zIOHuG78J2R9" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 55%; text-align: left">Value-added tax payable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">4,358,746</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right">10,399,477</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_uUSD_c20250331_zajOPUrgc3dk" style="width: 12%; text-align: right" title="Value-added tax payable">1,460,806</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--OtherTaxesPayable_iI_zB26GjoXdrLa" style="vertical-align: bottom; background-color: White"> <td id="xdx_F48_zHVIGpbIp5ml" style="text-align: left; padding-bottom: 1pt">Other taxes payable (i)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">25,151</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,055</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_ecustom--OtherTaxesPayable_iI_uUSD_c20250331_fKGkp_zJeTdu9hnINj" style="border-bottom: Black 1pt solid; text-align: right" title="Other taxes payable">1,974</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_z0oa0RSLaDJg" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total taxes payable</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,383,897</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,413,532</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_uUSD_c20250331_z5owLaM9ZA53" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total taxes payable">1,462,780</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4px"> </td> <td style="width: 48px">(i)</td> <td style="text-align: justify">Other taxes payable mainly includes the payable of urban construction tax, education surcharge and individual income taxes.</td></tr> </table>

4358746

10399477

1460806

25151 14055 1974

4383897

10413532

1462780

17. Shareholders’ Equity Ordinary shares The Company was established under the laws of the Cayman Islands on September 4, 2024. The authorized number of ordinary shares upon incorporation of the Group was 100,000,000 shares with a par value of $0.0001 per share There were 50,000,000 and 50,000,000 ordinary shares issued and outstanding as of March 31, 2025 and 2024, respectively. Statutory reserve and restricted net assets The Group is required to make appropriations to certain reserve funds, comprising the statutory surplus reserve and the discretionary surplus reserve, based on after-tax net profit determined in accordance with generally accepted accounting principles of the PRC (“PRC GAAP”). Appropriations to the statutory surplus reserve are required to be at least 10% of the after-tax net profit determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital. Appropriations to the discretionary surplus reserve are made at the discretion of the board of directors. The statutory reserve may be applied against prior year losses, if any, and may be used for general business expansion and production or increase in registered capital, but are not distributable as cash dividends. Relevant PRC laws and regulations restrict the Group’s WFOE and the VIE from transferring a portion of their net assets, equivalent to their statutory reserves and their share capital, to the Group in the form of loans, advances or cash dividends. Only PRC entities’ accumulated profits may be distributed as dividends to the Group without the consent of a third party. The payment of dividends by entities organized in China is subject to limitations, procedures and formalities. Regulations in the PRC currently permit payment of dividends only out of accumulated profits as determined in accordance with accounting standards and regulations in China. The results of operations reflected in the consolidated financial statements prepared in accordance with U.S GAAP may differ from those in the statutory financial statements of the WFOE and VIE. Remittance of dividends by a wholly foreign-owned Group out of China is subject to examination by the banks designated by State Administration of Foreign Exchange. In light of the foregoing restrictions, WFOE and the VIE are restricted in their ability to transfer their net assets to the Group. Foreign exchange and other regulations in the PRC may further restrict WFOE and the VIE from transferring funds to the Group in the form of dividends, loans and advances. As of March 31, 2025 and 2024, restricted net assets of WFOE and the VIE amounted to RMB10,000,000 (US$1,404,692) and RMB9,955,000, respectively. Subscription receivable As of March 31, 2025 and 2024, subscription receivables on the Consolidated Balance Sheets represented the unpaid consideration of 50,000,000 Ordinary Shares issued by the Company.

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18. Commitments and Contingencies (a) Capital expenditure commitments The Group had no capital expenditure commitment as of March 31, 2025 and 2024, respectively. (b) Contingencies The Group is subject to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Group does not anticipate that the final outcome arising out of any such matter will have a material adverse effect on the Group’s consolidated business, financial position, cash flows or results of operations taken as a whole. As of March 31, 2025 and 2024, the Group was not a party to any material legal or administrative proceedings.

19. Subsequent events The Group has evaluated subsequent events from the balance sheet date March 31, 2025 through the date of this report, the date of issuance of the consolidated financial statements, other than as disclosed above events, there were no other subsequent events occurred that would require recognition or disclosure in the Group’s consolidated financial statements.

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1. Organizations and reorganizations Mingde Technology Limited (the “Company” or “Mingde Technology”) was incorporated in the Cayman Islands under the Companies Act (As Revised) of the Cayman Islands (the “Cayman Companies Act”) as an exempted company with limited liability on September 4, 2024. The Company is a holding company and conducts its business mainly through its subsidiaries, variable interest entity (“VIE”) and subsidiaries of VIE (collectively referred to as the “Group”). Mingde Technology Hong Kong International Limited (“Mingde HK”) is a wholly owned subsidiary of the Company. Jiujiang Rongganghui Technology Co., Ltd. is wholly foreign-owned enterprise (the “WFOE”). The Group conducted its business in the People’s Republic of China (the “PRC” or “China”) through a series of contractual agreements entered into by the WFOE with the VIE based in China. The Group is primarily engaged in sports-related product sales and providing information technology solutions services to connect consumers and merchants through its e-commercial platform in China. The following sets forth the Company’s consolidated subsidiaries, VIE and subsidiaries of VIE are as follows: <table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zYByh37Dn5af" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Organizations and reorganizations (Details)"> <tr style="background-color: White"> <td style="vertical-align: top; text-indent: 0.7pt">Schedule of VIE and subsidiaries</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: top"> </td> <td style="white-space: nowrap"> </td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom"> Percentage of legal ownership of the Company</td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center">Principal activities, place and date of incorporation</td> <td> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-indent: 0.7pt">Subsidiaries</td> <td style="white-space: nowrap"> </td> <td colspan="2" style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap"> </td> <td style="vertical-align: top; text-align: right"> </td> <td> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top; width: 59%; text-indent: 0.7pt">Mingde Technology Hong Kong International Limited (“Mingde HK”)</td> <td style="white-space: nowrap; vertical-align: bottom; width: 1%"> </td> <td style="white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="vertical-align: top; width: 18%; text-align: right"><span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zLLNEgRHJbbg" title="Percentage of ownership">100</td> <td style="white-space: nowrap; vertical-align: top; width: 1%; text-align: right">%</td> <td style="white-space: nowrap; vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 18%"> <span id="xdx_905_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zhCbr5iIvlke" title="Principal activities">Investment holding, <span id="xdx_909_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zOXyVodmAGe5" title="Place of incorporation">Hong Kong, China, <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_z6XFN5Ob8Hxd" title="Date of incorporation">September 26, 2024</td> <td style="vertical-align: bottom; width: 1%"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top; text-indent: 0.7pt">Jiujiang Rongganghui Technology Co., Ltd. (“Rongganghui” or “wholly foreign-owned enterprise” or “WFOE” or “primary beneficiary of the VIE”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zE5T2gWRACDc" title="Percentage of ownership">100</td> <td style="white-space: nowrap; vertical-align: top; text-align: right">%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> <span id="xdx_908_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zTO5Fvpg99j4" title="Principal activities">Technical support and consulting services <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_znNZxd7vd4p4" title="Date of incorporation">February 21, 2025</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top; text-indent: 0.7pt"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">VIE</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Zhejiang Fit-One Internet Technology Co., Ltd. (“Fit-One” or “VIE”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"><span id="xdx_900_ecustom--EquityMethodInvestmentOwnership_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_z65gh1DkveN1" title="Legal ownership">Variable interest</td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"><span id="xdx_906_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_zCiEcA9lRSI3" title="Principal activities">Membership health service platform, <span id="xdx_902_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_zDkoHYdpp12" title="Place of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_zTsIrtulKWa" title="Date of incorporation">December 31, 2019 </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Subsidiaries of VIE</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Hangzhou Joymove Brand Operation and Management Co., Ltd. (“Joymove”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zJWz6kMRq8ce">100%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> <span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zy9CJaQqeSC7" title="Principal activities">Operating entity; <span id="xdx_907_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zbovepnYqrDd" title="Place of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_90E_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zbJrrnYT8yli" title="Date of incorporation">May 19, 2021</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Hangzhou Dazhika Technology Co., Ltd (“Dazhika”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_z9CHiipPtsb8">98%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> <span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_zwEzngY0TU5i" title="Principal activities">Operating entity; <span id="xdx_90D_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_z8O4WnvtCgP4" title="Place of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_901_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_z6R7yQMXTfj1" title="Date of incorporation">March 27, 2024</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Dazhika (Xiushui) Technology Co., Ltd (“Dazhika (Xiushui”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_z35g9E5PYcVh">100%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> <span id="xdx_901_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_z49ROmVu8PZ4" title="Principal activities">Operating entity; <span id="xdx_905_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zRprEwix1wt3" title="Place of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zoUsVH0ilQK2" title="Date of incorporation">January 10, 2025</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Ningbo Kunqian Technology Co., Ltd (“Kunqian”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NingboKunqianTechnologyCoLtdMember_zgzhuqYRDB18">80%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="text-align: right; vertical-align: top"><span id="xdx_90B_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NingboKunqianTechnologyCoLtdMember_zgsHB16RTrX4" title="Principal activities">Operating entity; <span id="xdx_906_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NingboKunqianTechnologyCoLtdMember_zXaXZcHHXTJb" title="Place of incorporation">Ningbo, Zhejiang province, China <span id="xdx_903_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NingboKunqianTechnologyCoLtdMember_zkIGWOQ23fHk" title="Date of incorporation">May 26,2025 </td> <td style="vertical-align: bottom"> </td></tr> </table> History of the Group Reorganization Prior to the incorporation of the Company and the completion of the reorganization as described below, the Group conducted its business through Fit-One, a limited liability company established in Hangzhou, Zhejiang province, the PRC in 2019. The Group focused on providing health products and sports-related services. In connection with the proposed initial public offering of the Company’s shares, the Group undertook certain corporate restructuring activities in 2024 to establish an offshore structure and the Company as the Group’s ultimate holding company for the entire equity interest in Fit-One. (the “Reorganization”). Upon completion of the Reorganization, the businesses were transferred to the Group. The Company and Mingde HK had no operations but only nominal amount of net assets prior to the consummation of the Reorganization and did not meet the definition of a business. All of the Group’s businesses continued to be conducted through Fit-One and its subsidiary after the Reorganization. There was no change in control over the Group before and after the Reorganization. Accordingly, the Group resulting from these Reorganization transactions was regarded as a recapitalization of Fit-One with no change in the basis of presentation of the financial statements. The Group’s financial information had been prepared on a consolidated basis as if the Reorganization occurred since the earliest period presented in these consolidated financial statements, and represented a continuation of the consolidated financial statements of Fit-One, whereas the assets, liabilities and operating results were presented at their historical carrying values. Contractual arrangements with VIE PRC laws and regulations place certain restrictions on foreign investment in value-added telecommunication service businesses. To comply with PRC laws and regulations, the Group operates its businesses in the PRC through the VIE and the VIE’s subsidiaries. Most of the Group’s revenues, cost of revenues, expenses and net profit in China were generated directly or indirectly through the VIE and the VIE’s subsidiary. The Company relies on a series of contractual arrangements among its WFOE, the VIE and their shareholders to conduct the business operations of the VIE and the VIE’s subsidiaries. Below is a summary of the currently effective contractual arrangements by and among WFOE, the VIE and its shareholders. Equity Interest Pledge Agreement Under the equity interest pledge agreement among WFOE, the VIE and its shareholders, the VIE’s shareholders pledged all of their equity interests of the VIE to WFOE as security for performance of the obligations of the VIE and its shareholders under the exclusive option agreement, the exclusive business cooperation agreement and the powers of attorney. During the term of the equity interest pledge agreement, WFOE has the right to receive all of the VIE’s dividends distributed on the pledged equity to the extent permitted under PRC laws. If any of the specified events of default occurs, WFOE, as pledgee, will be entitled to certain rights and remedies including priority in receiving the proceeds from the auction or disposal of the pledged equity interests in the VIE. WFOE may transfer all or any of its rights and obligations under the equity interest pledge agreement to its designee(s) at any time. The VIE and its shareholders undertake that, without the prior written consent of WFOE, they will not transfer, create or allow any encumbrance on the pledged equity interests. The agreement will remain in effect until the fulfillment of all the obligations under the exclusive option agreement, the exclusive business cooperation agreement and the powers of attorney. Exclusive Option Agreement Under the exclusive option agreement among the Company, WFOE, the VIE and its shareholders, each of the shareholders of the VIE has irrevocably granted the Company or its designee(s) an exclusive option to purchase, at any time and to the extent permitted under PRC laws, all or any part of their equity interests in the VIE at the lowest price permitted under applicable PRC laws if there is any statutory requirement about the consideration under PRC laws. The VIE and/or its shareholders covenant that, without the Company’s prior written consent, they will not, among other things, (i) sell, transfer, mortgage or otherwise dispose of their equity interests in the VIE, or create any encumbrance on their equity interests in the VIE, except for those encumbrances created by the VIE’s shareholders on the VIE under the equity interest pledge agreement, the powers of attorney of the VIE’s shareholders, and the exclusive option agreement; (ii) amend the VIE’s articles of association, or change the VIE’s registered capital or shareholding structure in any other manners; (iii) cause the VIE to enter into any material contract, except in the ordinary course of business; (iv) allow the VIE to incur, inherit, guarantee or permit any debts, except for those payables incurred in the ordinary course of business but not incurred by way of borrowing; (v) merge or consolidate the VIE with any other entity or acquire or invest in any other entity; (vi) distribute any dividend, however, upon request by the Company, the VIE shall immediately distribute all distributable profits to its shareholders; (vii) sell, transfer, mortgage or otherwise dispose of any of the VIE’s material assets or legal or beneficial interest in the material business or revenues of the VIE, or allow any encumbrance of any security interest thereon; or (viii) liquidate or dissolve the VIE unless otherwise required by PRC law. The exclusive option agreement will be terminated when the entire equity interests in the VIE have been transferred to the Company or its designee(s) pursuant to the agreement. Exclusive Business Cooperation Agreement Pursuant to the exclusive business cooperation agreement between WFOE and the VIE, WFOE has the exclusive right to provide, among other things, technological development, technological support, consultation and related services to the VIE. In exchange, the VIE pays service fees at any time agreed by the parties to WFOE in an amount consisting of management fee and fee for services provided, which shall be reasonably determined by WFOE based on the factors as provided in the exclusive business cooperation agreement. Without the prior written consent of WFOE, the VIE cannot assign its rights and obligations to any third party. WFOE has the exclusive and complete ownership of all intellectual property rights created as a result of the performance of this agreement. The exclusive business cooperation agreement will remain effective for thirty years upon its execution by the parties and be automatically extended for another thirty years upon expiration date, unless otherwise agreed by WFOE. Power of Attorney Pursuant to the powers of attorney executed by the VIE’s shareholders, each of them irrevocably authorized our WFOE or its designee(s) to act on their respective behalf as proxy attorney, to the extent permitted by law, to exercise all rights of shareholders concerning all the equity interest held by each of them in the VIE, including but not limited to (i) convening and attending shareholder meetings, (ii) exercising voting rights with respect to any matters discussed in shareholder meetings, (iii) signing and delivering any written resolutions and minutes, (iv) selling, transferring, pledging or disposing of equity interests in part or in whole, (v) nominating, electing, designating, appointing or removing the legal representative, directors and other senior management of the VIE, (vi) approving amendments of articles, and (vii) exercising all other rights conferred by the VIE’s memorandum and articles and relevant laws and regulations. The powers of attorney remain irrevocably effective as long as such VIE shareholders remain as the VIE’s shareholders, unless otherwise instructed by WFOE. Pursuant to ASC 805, as the Company and the VIE are under common control, the corporate reorganization was accounted for in a manner similar to a pooling of interests. As a result, the Company’s historical amounts in the accompanying consolidated financial statements give retroactive effect to the Reorganization, whereby the assets and liabilities of the VIE and the VIE’s subsidiaries are reflected at the historical carrying values and their operations are presented as if the Reorganization had become effective as of the beginning of the first period presented in the accompanying consolidated financial statements. The Group’s business has been directly operated by the VIE and its subsidiaries. The carrying amounts of the assets, liabilities and the results of operations of the VIEs and the VIEs’ subsidiaries are included in the Company’s consolidated balance sheets and statements of operations. For the six months ended September 30, 2025 and 2024, the VIE contributed 100% of the Group’s consolidated revenues. As of September 30, 2025 and March 31, 2025, the VIE accounted for an aggregate of 100% of both the consolidated total assets and liabilities. Risks in relation to the VIE structure The Group’s business is mainly conducted through the VIE and subsidiaries of VIE, of which the Company is the ultimate primary beneficiary. The Company has concluded that (i) the ownership structure of the VIE is not in violation of any applicable PRC laws or regulations currently in effect and (ii) each of the VIE contractual agreements is valid, binding, and enforceable in accordance with their terms and applicable PRC laws or regulations currently in effect. However, uncertainties in the PRC legal system could cause the relevant regulatory authorities to find the current VIE contractual agreements and the legal structure to be in violation of any existing or future PRC laws or regulations. On March 15, 2019, the National People’s Congress adopted the Foreign Investment Law of the PRC, which became effective on January 1, 2020, together with their implementation rules and ancillary regulations. The Foreign Investment Law does not explicitly classify contractual arrangements as a form of foreign investment, but it contains a catch-all provision under the definition of “foreign investment”, which includes investments made by foreign investors through means stipulated in laws or administrative regulations or other methods prescribed by the State Council. It is unclear whether the Group’s corporate structure will be seen as violating the foreign investment rules as the Group is currently leveraging the contractual arrangements to operate certain business in which foreign investors are prohibited from or restricted to investing. If variable interest entities fall within the definition of foreign investment entities, the Group’s ability to use the contractual arrangements with the VIE and the Group’s ability to conduct business through the VIE could be severely limited. In addition, if the Group’s corporate structure and the contractual arrangements with the VIE through which the Group conducts its business in the PRC were found to be in violation of any existing or future PRC laws and regulations, the Group’s relevant PRC regulatory authorities could: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">revoke the business licenses and/or operating licenses of the Group’s PRC entities;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">impose fines;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%; text-indent: 0.6pt">confiscate any income that they deem to be obtained through illegal operations, or impose other requirements with which the Group may not be able to comply;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">discontinue or place restrictions or onerous conditions on the Group’s operations;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">place restrictions on the right to collect revenues;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">shut down the Group’s servers or block the Group’s websites or mobile apps;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%">the Group to restructure ownership structure or operations, including terminating the contractual arrangements with the VIE and deregistering the equity pledges of the VIE, which in turn would affect the ability to consolidate, derive economic interests from the VIE and their subsidiaries;</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%; text-indent: 0.8pt">restrict or prohibit the use of the proceeds from financing activities to finance the business and operations of the VIE and their subsidiaries; or</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; background-color: white; border-collapse: collapse"> <tr> <td style="width: 10%; text-indent: 0.5in"> ·</td> <td style="vertical-align: top; width: 1%; text-indent: 0.5in"> </td> <td style="vertical-align: top; width: 89%; text-indent: 0.5pt">take other regulatory or enforcement actions that could be harmful to the Group’s business.</td></tr> </table> The imposition of any of these penalties may result in a material and adverse effect on the Group’s ability to conduct the Group’s business. In addition, if the imposition of any of these penalties causes the Group to lose the rights to direct the activities of the VIE or the right to receive its economic benefits, the Group would no longer be able to consolidate the VIE. The management believes that the likelihood for the Group to lose such ability is remote based on current facts and circumstances. However, the interpretation and implementation of the laws and regulations in the PRC and their application to an effect on the legality, binding effect and enforceability of contracts are subject to the discretion of competent PRC authorities, and therefore there is no assurance that relevant PRC authorities will take the same position as the Group herein in respect of the legality, binding effect and enforceability of each of the contractual arrangements. Meanwhile, since the PRC legal system continues to rapidly evolve, it may lead to changes in PRC laws, regulations, and policies or in the interpretation and application of existing laws, regulations and policies, which may limit legal protections available to the Group to enforce the contractual arrangements should the VIE or the shareholder of the VIE fail to perform their obligations under those arrangements. In addition, shareholder of the VIE is a PRC holding entity beneficially owned by the Founder, chairman of the board of directors and chief executive officer of the Company. The enforceability, and therefore the benefits, of the contractual agreements between the Company and the VIE depend on the shareholder enforcing the contracts. There is a risk that shareholders of VIE, who in some cases are also shareholder of the Company may have conflict of interests with the Company in the future or fails to perform their contractual obligations. Given the significance and importance of the VIE, there would be a significant negative impact on the Company if these contracts were not enforced. The Group’s operations depend on the VIE to honor their contractual agreements with the Group and the enforceability, and therefore the benefits, of the contractual agreements also depends on the authorization by the shareholder of the VIE to exercise voting rights on all matters requiring shareholder approval in the VIE. The Company believes that the agreements on authorization to exercise shareholder’s voting power are enforceable against each party thereto in accordance with their terms and applicable PRC laws or regulations currently in effect and the possibility that it will no longer be able to be the primary beneficiary and consolidate the VIE as a result of the aforementioned risks and uncertainties is remote. In accordance with the contractual agreements, the Company could (1) exercise the shareholder’s rights of the VIE and has power to direct the activities that most significantly affects the economic performance of the VIE and subsidiaries of VIE, (2) absorb substantially all of the expected losses and receive substantially expected residual returns of the VIE and subsidiaries of VIE; and (3) has an exclusive call option to purchase all or part of the equity interests in and/or assets of each of VIE and subsidiaries of VIE when and to the extent permitted by PRC law. Accordingly, the Company is considered as the ultimate primary beneficiary of the VIE and has consolidated the VIE’s financial results of operations, assets, and liabilities in the Company’s consolidated financial statements. Therefore, the Company considers that there are no assets in the VIE that can be used only to settle obligations of the VIE, except for the paid-in capital of the VIE amounting to RMB10,000,000 (US$1,404,692) and RMB9,955,000 as of September 30, 2025 and March 31 2025, as well as certain non-distributable statutory reserves amounting to approximately nil and nil as of September 30, 2025 and March 31 2025. As the VIE is incorporated as a limited liability company under the PRC Company Law, creditors do not have recourse to the general credit of the Company for the liabilities of the VIE. As the Group is conducting certain business in the PRC through the VIE, the Company would provide unlimited financial support to the VIE if, in the normal operation of business, the VIE should become in need of any form of reasonable financial support, which could expose the Group to a loss. The following consolidated financial information of the VIE after the elimination of inter-company transactions between the VIE and its subsidiaries as of September 30, 2025 and March 31, 2025, and for the six months ended September 30, 2025 and 2024 was included in the accompanying consolidated financial statements of the Group as follows: <table cellpadding="0" cellspacing="0" id="xdx_896_esrt--ScheduleOfCondensedFinancialStatementsTableTextBlock_zxFyWe6JtlI4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Organizations and reorganizations (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of consolidated financial statements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total liabilities"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total liabilities"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total liabilities"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Balance Sheet of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Total assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zZ3KZ57TeEkf" style="width: 11%; text-align: right" title="Total assets">32,672,916</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_c20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zuX4KGhPAXf3" style="width: 11%; text-align: right" title="Total assets">26,783,360</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--Assets_iI_uUSD_c20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z27zFmGNSNgi" style="width: 11%; text-align: right" title="Total assets">3,762,235</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Liabilities_iI_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z3xfFzbUbX72" style="text-align: right" title="Total liabilities">57,692,272</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Liabilities_iI_c20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zyqJhS5EUug6" style="text-align: right" title="Total liabilities">47,773,633</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--Liabilities_iI_uUSD_c20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zX4fXUSxy1fl" style="text-align: right" title="Total liabilities">6,710,722</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Statement of Operations of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Net revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zLNdRXPeYXM1" style="width: 11%; text-align: right" title="Net revenues">42,299,076</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zUVO2BcYk5q6" style="width: 11%; text-align: right" title="Net revenues">50,490,097</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zwQaU7qm40mb" style="width: 11%; text-align: right" title="Net revenues">7,092,302</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net (loss)/profit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zsnUeoDEKEf" style="text-align: right" title="Net loss">(1,239,401</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zhBPpgskN6H3" style="text-align: right" title="Net loss">3,639,083</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zS49MrYSkvob" style="text-align: right" title="Net loss">511,179</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Cash Flow of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Net cash provided by/(used in) operating activities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zVMKyctIkeKa" style="width: 11%; text-align: right" title="Net cash provided by operating activities">14,739,186</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--NetCashProvidedByUsedInOperatingActivities_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zGSH61LcLyrl" style="width: 11%; text-align: right" title="Net cash provided by operating activities">(4,212,269</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--NetCashProvidedByUsedInOperatingActivities_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zXIb0iLjhRMd" style="width: 11%; text-align: right" title="Net cash provided by operating activities">(591,694</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash (used in)/provided by investing activities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--NetCashProvidedByUsedInInvestingActivities_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zqgufu1nOo5k" style="text-align: right" title="Net cash used in investing activities">(16,166,670</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInInvestingActivities_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zZYsLPaRSfL8" style="text-align: right" title="Net cash used in investing activities">15,081,162</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--NetCashProvidedByUsedInInvestingActivities_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zlIwYNElluof" style="text-align: right" title="Net cash used in investing activities">2,118,438</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Net cash used in financing activities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--NetCashProvidedByUsedInFinancingActivities_d0_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zUuZoNiu7yr7" style="text-align: right" title="Net cash used in financing activities">(6,370,263</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInFinancingActivities_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zGMYvpRDZFE2" style="text-align: right" title="Net cash used in financing activities">(10,058,444</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--NetCashProvidedByUsedInFinancingActivities_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zlDL2jmWj0vh" style="text-align: right" title="Net cash used in financing activities">(1,412,901</td><td style="text-align: left">)</td></tr> </table> Liquidity The Group has net profit of RMB3,639,083(US$511,179) and net loss of RMB1,239,401 for the six months ended September 30, 2025 and 2024, respectively. Net cash used in operating activities were approximately RMB4,212,269 (US$591,694) and net cash provided by RMB14,739,186 for the six months ended September 30, 2025 and 2024, respectively. Accumulated deficit was RMB31,222,736 (US$4,385,832) and RMB34,800,182 as of September 30, 2025 and March 31, 2025, respectively. The Company has historically funded its working capital needs primarily from operations, bank loans, and advances from shareholders and intends to continue doing so in the near future to ensure sufficient working capital. The Group’s ability to continue as a going concern is dependent on management’s ability to successfully execute its business plan, which includes increasing revenues while controlling operating expenses, as well as generating operational cash flows and continuing to gain support from outside sources of financing, which is further strengthened by the completion of De-SPAC transaction and the associated capital injection. Based on the above considerations, the Group believes the cash and cash equivalents and the operating cash flows are sufficient to meet the cash requirements to fund planned operations and other commitments for at least the next twelve months from the date of the issuance of the consolidated financial statements. The Group’s consolidated financial statements have been prepared based on the Company’s continuing as a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business.

<table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfVariableInterestEntitiesTextBlock_zYByh37Dn5af" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Organizations and reorganizations (Details)"> <tr style="background-color: White"> <td style="vertical-align: top; text-indent: 0.7pt">Schedule of VIE and subsidiaries</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> </td> <td style="vertical-align: bottom"> </td></tr> <tr> <td style="vertical-align: top"> </td> <td style="white-space: nowrap"> </td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom"> Percentage of legal ownership of the Company</td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center">Principal activities, place and date of incorporation</td> <td> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-indent: 0.7pt">Subsidiaries</td> <td style="white-space: nowrap"> </td> <td colspan="2" style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap"> </td> <td style="vertical-align: top; text-align: right"> </td> <td> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top; width: 59%; text-indent: 0.7pt">Mingde Technology Hong Kong International Limited (“Mingde HK”)</td> <td style="white-space: nowrap; vertical-align: bottom; width: 1%"> </td> <td style="white-space: nowrap; vertical-align: top; width: 1%; text-align: right"> </td> <td style="vertical-align: top; width: 18%; text-align: right"><span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zLLNEgRHJbbg" title="Percentage of ownership">100</td> <td style="white-space: nowrap; vertical-align: top; width: 1%; text-align: right">%</td> <td style="white-space: nowrap; vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 18%"> <span id="xdx_905_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zhCbr5iIvlke" title="Principal activities">Investment holding, <span id="xdx_909_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_zOXyVodmAGe5" title="Place of incorporation">Hong Kong, China, <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--MingdeTechnologyHongKongInternationalLimitedMember_z6XFN5Ob8Hxd" title="Date of incorporation">September 26, 2024</td> <td style="vertical-align: bottom; width: 1%"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top; text-indent: 0.7pt">Jiujiang Rongganghui Technology Co., Ltd. (“Rongganghui” or “wholly foreign-owned enterprise” or “WFOE” or “primary beneficiary of the VIE”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zE5T2gWRACDc" title="Percentage of ownership">100</td> <td style="white-space: nowrap; vertical-align: top; text-align: right">%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> <span id="xdx_908_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_zTO5Fvpg99j4" title="Principal activities">Technical support and consulting services <span id="xdx_90B_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--JiujjiangRongganghuiTechnologyCoLtdMember_znNZxd7vd4p4" title="Date of incorporation">February 21, 2025</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top; text-indent: 0.7pt"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">VIE</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Zhejiang Fit-One Internet Technology Co., Ltd. (“Fit-One” or “VIE”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="vertical-align: top; text-align: right"><span id="xdx_900_ecustom--EquityMethodInvestmentOwnership_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_z65gh1DkveN1" title="Legal ownership">Variable interest</td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"><span id="xdx_906_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_zCiEcA9lRSI3" title="Principal activities">Membership health service platform, <span id="xdx_902_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_zDkoHYdpp12" title="Place of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_905_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--ZhejiangFitOneInternetTechnologyCoLtdMember_zTsIrtulKWa" title="Date of incorporation">December 31, 2019 </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Subsidiaries of VIE</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: bottom; text-align: right"> </td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top; text-align: right; text-indent: 5pt"> </td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Hangzhou Joymove Brand Operation and Management Co., Ltd. (“Joymove”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_908_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zJWz6kMRq8ce">100%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> <span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zy9CJaQqeSC7" title="Principal activities">Operating entity; <span id="xdx_907_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zbovepnYqrDd" title="Place of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_90E_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouJoymoveBrandOperationAndManagementCoLtdMember_zbJrrnYT8yli" title="Date of incorporation">May 19, 2021</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Hangzhou Dazhika Technology Co., Ltd (“Dazhika”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_z9CHiipPtsb8">98%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> <span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_zwEzngY0TU5i" title="Principal activities">Operating entity; <span id="xdx_90D_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_z8O4WnvtCgP4" title="Place of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_901_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaTechnologyCoLtdMember_z6R7yQMXTfj1" title="Date of incorporation">March 27, 2024</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: White"> <td style="vertical-align: top">Dazhika (Xiushui) Technology Co., Ltd (“Dazhika (Xiushui”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_z35g9E5PYcVh">100%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="vertical-align: top"> <span id="xdx_901_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_z49ROmVu8PZ4" title="Principal activities">Operating entity; <span id="xdx_905_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zRprEwix1wt3" title="Place of incorporation">Hangzhou, Zhejiang province, China <span id="xdx_907_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--DazhikaXiushuiTechnologyCoLtdMember_zoUsVH0ilQK2" title="Date of incorporation">January 10, 2025</td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: top">Ningbo Kunqian Technology Co., Ltd (“Kunqian”)</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="white-space: nowrap; vertical-align: top; text-align: right"> </td> <td colspan="2" style="vertical-align: top; text-align: right"><span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_dp_c20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NingboKunqianTechnologyCoLtdMember_zgzhuqYRDB18">80%</td> <td style="white-space: nowrap; vertical-align: bottom"> </td> <td style="text-align: right; vertical-align: top"><span id="xdx_90B_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NingboKunqianTechnologyCoLtdMember_zgsHB16RTrX4" title="Principal activities">Operating entity; <span id="xdx_906_ecustom--PlaceOfIncorporation_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NingboKunqianTechnologyCoLtdMember_zXaXZcHHXTJb" title="Place of incorporation">Ningbo, Zhejiang province, China <span id="xdx_903_edei--EntityIncorporationDateOfIncorporation_dd_c20250401__20250930__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--NingboKunqianTechnologyCoLtdMember_zkIGWOQ23fHk" title="Date of incorporation">May 26,2025 </td> <td style="vertical-align: bottom"> </td></tr> </table> History of the Group Reorganization

Investment holding

Hong Kong, China 2024-09-26

Technical support and consulting services

2025-02-21 Variable interest

Membership health service platform

Hangzhou, Zhejiang province, China 2019-12-31

Operating entity

Hangzhou, Zhejiang province, China 2021-05-19

0.98

Operating entity

Hangzhou, Zhejiang province, China 2024-03-27

Operating entity

Hangzhou, Zhejiang province, China 2025-01-10

0.80

Operating entity

Ningbo, Zhejiang province, China 2025-05-26 <table cellpadding="0" cellspacing="0" id="xdx_896_esrt--ScheduleOfCondensedFinancialStatementsTableTextBlock_zxFyWe6JtlI4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Organizations and reorganizations (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of consolidated financial statements</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total liabilities"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total liabilities"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total liabilities"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Balance Sheet of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Total assets</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zZ3KZ57TeEkf" style="width: 11%; text-align: right" title="Total assets">32,672,916</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--Assets_iI_c20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zuX4KGhPAXf3" style="width: 11%; text-align: right" title="Total assets">26,783,360</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--Assets_iI_uUSD_c20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z27zFmGNSNgi" style="width: 11%; text-align: right" title="Total assets">3,762,235</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Total liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Liabilities_iI_c20250331__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_z3xfFzbUbX72" style="text-align: right" title="Total liabilities">57,692,272</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Liabilities_iI_c20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zyqJhS5EUug6" style="text-align: right" title="Total liabilities">47,773,633</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--Liabilities_iI_uUSD_c20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zX4fXUSxy1fl" style="text-align: right" title="Total liabilities">6,710,722</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Statement of Operations of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Net revenues</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zLNdRXPeYXM1" style="width: 11%; text-align: right" title="Net revenues">42,299,076</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zUVO2BcYk5q6" style="width: 11%; text-align: right" title="Net revenues">50,490,097</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityRevenues_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zwQaU7qm40mb" style="width: 11%; text-align: right" title="Net revenues">7,092,302</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net (loss)/profit</td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zsnUeoDEKEf" style="text-align: right" title="Net loss">(1,239,401</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zhBPpgskN6H3" style="text-align: right" title="Net loss">3,639,083</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--VariableInterestEntityActivityBetweenVIEAndEntityOperatingIncomeOrLoss_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zS49MrYSkvob" style="text-align: right" title="Net loss">511,179</td><td style="text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Condensed Cash Flow of VIEs and VIEs’ subsidiaries</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Net cash provided by/(used in) operating activities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--NetCashProvidedByUsedInOperatingActivities_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zVMKyctIkeKa" style="width: 11%; text-align: right" title="Net cash provided by operating activities">14,739,186</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--NetCashProvidedByUsedInOperatingActivities_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zGSH61LcLyrl" style="width: 11%; text-align: right" title="Net cash provided by operating activities">(4,212,269</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_986_eus-gaap--NetCashProvidedByUsedInOperatingActivities_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zXIb0iLjhRMd" style="width: 11%; text-align: right" title="Net cash provided by operating activities">(591,694</td><td style="width: 1%; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Net cash (used in)/provided by investing activities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--NetCashProvidedByUsedInInvestingActivities_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zqgufu1nOo5k" style="text-align: right" title="Net cash used in investing activities">(16,166,670</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInInvestingActivities_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zZYsLPaRSfL8" style="text-align: right" title="Net cash used in investing activities">15,081,162</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--NetCashProvidedByUsedInInvestingActivities_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zlIwYNElluof" style="text-align: right" title="Net cash used in investing activities">2,118,438</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Net cash used in financing activities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--NetCashProvidedByUsedInFinancingActivities_d0_c20240401__20240930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zUuZoNiu7yr7" style="text-align: right" title="Net cash used in financing activities">(6,370,263</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--NetCashProvidedByUsedInFinancingActivities_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zGMYvpRDZFE2" style="text-align: right" title="Net cash used in financing activities">(10,058,444</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--NetCashProvidedByUsedInFinancingActivities_uUSD_c20250401__20250930__srt--ConsolidatedEntitiesAxis__custom--VariableInterestEntityAndSubsidiariesMember_zlDL2jmWj0vh" style="text-align: right" title="Net cash used in financing activities">(1,412,901</td><td style="text-align: left">)</td></tr> </table>

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47773633

6710722

42299076

50490097

7092302

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3639083

511179

14739186

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15081162

2118438

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3639083

511179

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2. Summary of principal accounting policies (a) Basis of presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”). (b) Emerging growth company The Group is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Group has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Group, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Group’s financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used. (c) Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, the VIE and the VIE’s subsidiaries in which WFOE is the primary beneficiary. The results of the subsidiaries are consolidated from the date on which the Company obtained control and continues to be consolidated until the date that such control ceases. A controlling financial interest is typically determined when a company holds a majority of the voting equity interest in an entity. However, if the Company demonstrates its ability to control the VIE through power to govern the activities which most significantly impact the VIE’ economic performance and is obligated to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, then the entity is consolidated. All intercompany balances and transactions between the Company, its subsidiaries, the VIE and the VIE’s subsidiaries have been eliminated in consolidation. (d) Use of estimates In preparing the consolidated financial statements in conformity U.S. GAAP, the management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These accounting estimates used in the preparation of the consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. These estimates are based on management’s best available information including current events, historical experience, actions that the company may undertake in the future and on various other assumptions that are believed to be reasonable under the circumstances. Significant estimates required to be made by management include, but are not limited to, assessment of the expected credit losses for financial assets, impairment of goodwill, realization of deferred tax assets, and implicit interest rate of operating leases. As a result, actual results may be different from these estimates. (e) Functional currency and foreign currency translation The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its overseas subsidiaries which incorporated in the Cayman Islands is US Dollar (“USD”). The functional currency of the Company’s subsidiary which incorporated in Hong Kong is Hong Kong Dollar (“HK$”). The functional currency of the Company’s VIE and the VIE’s subsidiaries which are incorporated in PRC is RMB. In the consolidated financial statements, the financial information of the Company and other entities located outside of PRC has been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the periods. Translation adjustments are reported as foreign currency translation adjustments and are shown as a component of other comprehensive losses in the consolidated statements of operations and comprehensive income(loss), if any. Transactions denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing at the balance sheet date. (f) Convenience Translation The Group’s business is primarily conducted in China and all of the revenues are denominated in RMB. However, periodic reports made to shareholders will include current period amounts translated into US dollars using the exchange rate as of balance sheet date, for the convenience of the readers. Translations of balances in the consolidated balance sheets and the related consolidated statements of operations, change in equity and cash flows from Renminbi (“RMB”) into US dollars as of and for the fiscal six months ended September 30, 2025 are solely for the convenience of the readers and were calculated at the rate of USD1.00=RMB7.119 representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2025. The same exchange rate has been applied consistently to all periods presented for convenience translation purposes. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate on September 30, 2025, or at any other rate. (g) Non-controlling interests Non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. There is RMB137,537 (US$19,320) and RMB219,174 of non-controlling interests recognized by the Company as of September 30, 2025 and March 31, 2025, respectively. (h) Fair value of financial instruments The Company, its wholly-owned subsidiaries, VIE and the VIE’s subsidiaries adopted the guidance of ASC 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="width: 4%; text-align: justify"> </td> <td style="vertical-align: top; width: 4%; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.</td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 2 — Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.</td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 3 — Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.</td></tr> </table> The carrying amounts reported in the balance sheets of cash and cash equivalents, prepayments and other current assets, accrued expenses and other current liabilities, approximate their fair value based on the short-term maturity of these instruments. The Group did not have any non-financial assets or liabilities that are measured at fair value on a recurring basis as of September 30, 2025 and March 31, 2025. (i) Cash and cash equivalents Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less. (j) Allowance for credit losses The Group records allowance for credit losses under ASC 326 based on assessment of the recoverability of the receivables and individual accounts analysis, including the current creditworthiness and the past collection history of each customer. The Group considers many factors in assessing the expected credit losses model, such as size, the age of the accounts, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts, along with reasonable and supportable future economic conditions as a basis to develop the Group’s expected loss estimates, in combination with assessing receivable collectability on an individual basis, and applying current situation adjustment. Account balances are charged off against the allowance after all means of collection have been exhausted and the likelihood of collection is not probable. There is no allowance for credit losses recognized as of September 30, 2025 and March 31, 2025, respectively. Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less. (k) Inventories Inventories are stated at the lower of cost or market value. Costs include the cost of products purchased from third party suppliers. The cost of inventories is calculated using the weighted average method. Any excess of the cost over the net realizable value of each item of inventories is recognized as a provision for diminution in the value of inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to complete and sell products. Allowances for obsolescence are also assessed based on expiration dates, as applicable, taking into consideration historical and expected future product sales. (l) Property and equipment, net Property and equipment are recorded at cost net of accumulated depreciation and impairment losses. Gains and losses on disposal of property and equipment are included in other income, net. Significant additions or improvements extending useful lives of assets are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method over the useful lives of the assets are as follows: <table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--ScheduleOfEstimatedUsefulLivesTableTextBlock_zffgh3bkB5B7" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Summary of principal accounting policies (Details)"> <tr> <td style="vertical-align: bottom"> Schedule of estimated useful lives</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 71%; text-align: justify">Category</td> <td style="width: 1%; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 28%; text-align: justify">Estimated useful lives</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Leasehold Improvement</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z2nXHASe8cd1" title="Estimated useful lives">2-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zCEkJc1raXE8" title="Estimated useful lives">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Electronic equipment </td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">3 years</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Office furniture</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zLbXOO63fa4d" title="Estimated useful lives">3-<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zjCnZrthugf1" title="Estimated useful lives">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Vehicle</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">4 years</td></tr> </table> (m) Goodwill Goodwill represents the excess of purchase price over fair value of the identifiable net assets of businesses acquired in a business combination. Goodwill is not amortized and the Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20, Intangibles-Goodwill and Other: Goodwill (“ASC 350-20”), which requires goodwill to be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20. The impairment test is performed as of year-end or if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount by comparing the fair value of a reporting unit with its carrying value. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not impaired and no further testing is required. If the fair value of the reporting unit is less than the carrying value, an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The impairment review is highly judgmental and involves the use of significant estimates and assumptions. These estimates and assumptions have a significant impact on the amount of any impairment charge recorded. Estimates of fair value are primarily determined by using discounted cash flows. Discounted cash flows method is dependent upon assumptions of future sales trends, market conditions and cash flows of each reporting unit over several years. Actual cash flows in the future may differ significantly from those previously forecasted. Other significant assumptions include growth rates and the discount rate applicable to future cash flows. (n) Impairment of long-lived assets The Group evaluates its long-lived assets, including plant and equipment and right-of-use assets with finite lives, for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of an asset may not be fully recoverable. When these events occur, the Group evaluates the recoverability of long-lived assets by comparing the carrying amounts of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amounts of the assets, the Group recognizes an impairment loss based on the excess of the carrying amounts of the assets over their fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. As of September 30, 2025 and March 31, 2025, there was no impairment of long-lived assets. (o) Deferred offering costs In accordance with ASC 340-10-S99-1 and SEC Accounting Bulletin Topic 5A, specific incremental costs incurred by the Group directly attributable to a proposed initial public offering have been deferred and will be charged against the gross proceeds of the offering. These offering costs include fees paid to underwriters, attorneys, financial consultants as well as printers and other third parties directly related to the offering. Costs such as management salaries or other general administrative expenses that are not incremental to the offering are not included in the deferred costs. If the proposed initial public offering is no longer probable of occurring, the deferred costs will be expensed at that time. The balance of deferred offering costs recognized as at the year ended September 30, 2025 and March 31, 2025 were RMB 5,886,177 (US$ 826,826) and RMB 3,781,659, respectively. (p) Lease The Group accounted for leases in accordance with ASC Topic 842, Leases. The Group determines if an arrangement is a lease at inception. All the Group’s leases are operating leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate (“IBR”) based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and includes initial direct costs incurred. The Group’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expenses for minimum lease payments are recognized on a straight-line basis over the lease term. All operating lease right-of-use assets are reviewed for impairment annually. There was no impairment for operating lease right-of-use lease assets for the six months ended September 30, 2025 and 2024. The Group elected not to record assets and liabilities on its consolidated balance sheet for lease arrangements with terms of 12 months or less. The Group recognizes lease expenses for such lease on a straight-line basis over the lease term. (q) Revenue recognition ASC 606, Revenue from Contracts with customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. ASC 606 requires the use of a five-step model to recognize revenue from customer contracts. The five-step model requires that the Group (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Group satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Group records its revenue. The Group has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that would result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Group concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams. The following table sets forth a breakdown of our revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--DisaggregationOfRevenueTableTextBlock_zXrSKiDT4dNf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of breakdown of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Revenue</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: justify">Sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zp9Xv83s23G5" style="width: 8%; text-align: right" title="Total revenue">3,026,651</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zmj8kLQSqab" title="Total revenue percentage">7.2</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zVVgmeXnfLZ7" style="width: 8%; text-align: right" title="Total revenue">46,624,953</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zAax3agKcV1d" style="width: 8%; text-align: right" title="Total revenue">6,549,368</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zdC1zZjTDg58" title="Total revenue percentage">92.3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">DAKA merchant membership services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zVgQaUIpzfLk" style="text-align: right" title="Total revenue">39,037,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zCDMCfnqWnX1" title="Total revenue percentage">92.3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z9YH9f5QHulf" style="text-align: right" title="Total revenue">3,865,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zNIL6e7zSIv8" style="text-align: right" title="Total revenue">542,934</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_ztk4Yw7YS0V8" title="Total revenue percentage">7.7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Other revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zfJ1ichNieva" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">234,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zz6HbeH6xRwg" title="Total revenue percentage">0.5</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zLbiOEFEypk5" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zLQpWOAagPgj" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_z26rdIV4Tb9l" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_c20240401__20240930_z2Bd4ClBWMs5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">42,299,076</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zUwYoia1Uctb" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_c20250401__20250930_zqalBJRd8iNj" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">50,490,097</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_uUSD_c20250401__20250930_zMN1w4Rsfvij" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">7,092,302</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zPo144Jt6vh5" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Sports-related product sales The Group accounts for the revenue generated from sales of its products on a gross basis as the Group is acting as a principal in these transactions. The Group is subject to inventory risk, has latitude in establishing prices, and is responsible for fulfilling the promise to provide customers the specified goods, therefor the Group has control of the goods and has the ability to direct the use of goods to obtain substantially all the benefits. All of the Group’s contracts have one single performance obligation as the promise is to transfer the individual goods to customers, and there are no separately identifiable other promises in the contracts. The Group offers customer warranty of 30 days for defective products that is beyond contemplated defective rate mutually agreed in contract with customers normally. The Group analyzed historical refund claims for defective products and concluded that they have been immaterial. The Group’s revenue streams are recognized at a point in time when title and risk of loss passes and the customer accepts the goods, which generally occurs at receipt. Revenue is reported net of all value added taxes (“VAT”). DAKA merchant membership service revenue For services provided, as a principal, the Group charges its business partners (and/or their authorized distributors) of DAKA Lifestyle Stores a combination of fixed fees based on the number of orders fulfilled or other factors. Revenue generated from some IT solutions such as one-time payment system setup service is recognized at a point in time when the services are rendered. Revenue generated from services relating to offline and online store operation, digital marketing, customer services, and fulfillment are recognized over the service term in the amount including fixed fees and/or variable fees to which the Group has the right to invoice. The following table sets forth a breakdown of the Company’s DAKA merchant membership service revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--DisaggregationOfRevenue2TableTextBlock_zYOJuMugoB1f" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of DAKA revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">DAKA merchant membership service revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Technical service related to smart devices revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zj4TPNblpv4e" style="width: 8%; text-align: right" title="Total revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zjlu1sTb1PTg" title="Total revenue percentage">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zjtRVhiy20g5" style="width: 8%; text-align: right" title="Total revenue">2,019,424</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zxIUVGQ7LGya" style="width: 8%; text-align: right" title="Total revenue">283,667</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zzrENrGq8vc9" title="Total revenue percentage">52.3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Set-up fee revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zEuNwtc5wMhi" style="text-align: right" title="Total revenue">39,037,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zuC0Jd6EvqXk" title="Total revenue percentage">100.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zP0qnCuDsSTj" style="text-align: right" title="Total revenue">98,812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_z3yXHhtdQEC9" style="text-align: right" title="Total revenue">13,880</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zKmOTRiDPqCk" title="Total revenue percentage">2.6</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zZQff5lqN2n4" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zsHjy1UwGR6j" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zZNdhyfoGKyl" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">1,746,908</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zzvpkDDyl5f4" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">245,387</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zKPYsKfQ5MR4" title="Total revenue percentage">45.1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total DAKA merchant membership service revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zlZfpvZAOihb" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">39,037,736</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zjrPLCB3gqTf" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zuZDs7WjtIAj" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">3,865,144</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zSGulVPVBCpe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">542,934</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zUPu0xbpN4Ie" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The Company’s DAKA merchant membership service agreements are on a fixed rate basis, which include fixed brand license fee, system setup service, and equipment supply, etc. The Company recognizes technical service related to smart devices revenue and set-up fee revenue upon the satisfaction of its performance obligation (satisfaction of its performance obligation (upon transfer of control of promised smart devices with acceptance of customers and the completeness of set-up services to customers (for example, the delivery of renovation drawings accepted and delivered to customers)) in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those goods or services, excluding amounts collected on behalf of third parties (for example, value added taxes). The contract typically contains multiple distinct performance obligations (e.g., setup services, equipment supply, and ongoing support). The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer. For example, the setup services (such as site design and floor plans, etc.) represent a distinct performance obligation because the customer can benefit from them on their own. This is demonstrated by the contractual right for the customer to independently use these design outputs to hire third-party contractors for construction. The services are separately identifiable as they are completed prior to and are not highly integrated with subsequent ongoing support or equipment provisioning, requiring specialized expertise and transferring discrete value to the customer upon delivery and acceptance of the design deliverables. The transaction price is allocated to each performance obligation based on its standalone selling price without any variable considerations. The Company provides the customers with an exclusive right to operate in a designated region and maintains a stand-ready obligation to support platform operations, supply chain management, and related services. The performance obligation is satisfied over the contractual term when the customers simultaneously receive and consume the benefits of the exclusive rights and platform support. Exclusive regional agency authorization revenue is recognized over the authorization contract period. The authorization fee is paid in full upon contract execution. Revenues from such arrangements are recognized on a straight-line basis over the contractual term. Other revenue The Group also generates other revenue mainly by local life service fee and franchise income on its online platform. The Group recognizes revenues in the gross amount at a point in time when the control of the service and the product is transferred to customers. Principal versus agent considerations For all the services provided, the Company considers itself the principal and recognizes revenue on a gross basis as it controls the services through the following key considerations: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: justify"> </td> <td style="width: 24px; text-align: justify">·</td> <td> The Company reserves the right to accept or reject the contracts or orders with the customers without involvement of the third parties and directs the selected third parties to provide services to the customers on the Company’s behalf. There is no direct cooperation relationship between third parties and the customers. There is no difference in the Company’s arrangements with the customers whether the Company utilizes its employees, third parties, or a combination of both. The Company is the principal and primarily responsible for fulfilling the promise to provide services to its customers in the arrangement and its principal purpose is to satisfy its performance obligations to the customers by providing DAKA merchant membership service itself or by engaging the third-party suppliers on behalf of the Company. The Company assumes responsibility for receiving and resolving the complaints over the quality of the services. If the third-party service providers fail to deliver their work and thus affect the Company’s performance obligation to customers, the Company should bear the loss of the customers for breach of contract on its own, and then independently claim for compensation from third-party service providers for its loss. </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify">·</td> <td style="text-align: justify">The Company utilizes both its employees and third parties to provide services to customers. The Company has discretion in setting up the price with third party suppliers. The third parties involved are entitled to a fixed services fee agreed upon in advance irrespective of the consideration the Company collects from the customers.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify">·</td> <td style="text-align: justify">The Company bears the credit risk as the Company pays the consideration due to third parties irrespective of whether the customers have paid the services consideration to the Company.</td></tr> </table> Contract Balances When either party to a contract has performed, the Group presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before a payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are subject to impairment assessment. A contract liability is recognized when a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognized as revenue when the Group performs under the contract. As of September 30, 2025 and March 31, 2025, contract liabilities amounted to RMB8,651,000 (US$1,215,199) and RMB10,502,722, respectively, were primarily presented as “Advances from customers” on the consolidated balance sheets. Revenue recognized that was included in contract liabilities at the beginning of the period was RMB1,851,722 (US$260,110) and RMB27,893,632 for the six months ended September 30, 2025 and 2024, respectively. (r) Cost of revenues Cost of revenue consists primarily of the purchase costs incurred in sports-related products sales and referral service cost to the suppliers which is directly attributable to the Group’s principal operations. The following table sets forth a breakdown of cost of revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--CostOfRevenuesTableTextBlock_zXP2NiGNi51" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of breakdown of cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Cost of revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: left">Cost of sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zfWPAXugRkBf" style="width: 8%; text-align: right" title="Total cost of revenue">1,285,375</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zxDcWFpAIZr2" title="Total revenue percentage">10.9</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20250401__20250930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zoFgLFvjFuZ5" style="width: 8%; text-align: right" title="Total cost of revenue">11,659,277</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--CostOfRevenue_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zgTabaHKt72c" style="width: 8%; text-align: right" title="Total cost of revenue">1,637,769</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_z5e7pZgjuaLk" title="Total revenue percentage">99.9</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">DAKA merchant membership service cost</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zKbCOlmwPjG3" style="text-align: right" title="Total cost of revenue">10,367,650</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zPF7iJyz5cPk" title="Total revenue percentage">87.9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_znR10CC5jKQg" style="text-align: right" title="Total cost of revenue">1,480</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zBu0pmgRuMv" style="text-align: right" title="Total cost of revenue">208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zKH0YVmvM9S8" title="Total revenue percentage">0.1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--OtherCostMember_zIN2If9jpR75" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">139,037</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zBL49eJpFCt2" title="Total revenue percentage">1.2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_iN_di0_uCNY_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherCostMember_zMD6Til6HQSd" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_iN_di0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherCostMember_zg4OZta5Yn2a" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zE0hAShVJOt4" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--CostOfRevenue_c20240401__20240930_zmDppSR2DW2f" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">11,792,062</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_zBij6qITmHo2" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--CostOfRevenue_c20250401__20250930_z2kv9hJnWZIk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">11,660,757</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20250401__20250930_znLw4i86LL4c" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">1,637,977</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_z3vLODxPj4le" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table sets forth a breakdown of the Company’s DAKA merchant membership service costs for the periods presented: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">DAKA merchant membership service costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Set-up cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z1EzPPXShsx7" style="width: 8%; text-align: right" title="Total cost of revenue">10,367,650</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zbuVpzuavAxb" title="Total revenue percentage">100.0</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zT92cgHNdL8j" style="width: 8%; text-align: right" title="Total cost of revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z064W3MKqgDf" style="width: 8%; text-align: right" title="Total cost of revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zXm5diuU252a" title="Total revenue percentage">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zEseVpfJ4f7e" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zILB5fSD47Oi" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zMlVcu9Hvc4k" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">1,480</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zjADkbpimeb4" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">208</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zp4Roiax9Eh4" title="Total revenue percentage">100.0</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of DAKA merchant membership service</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zWbuUwmCQPAk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">10,367,650</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zoWB58UxGOd8" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zQINUrRUaFF5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total cost of revenue">1,480</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_z3AlKRKqsp98" style="border-bottom: Black 2.5pt double; text-align: right" title="Total cost of revenue">208</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zamtdwBM2vX8">100.0</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> (s) Research and development expenses Research and development expenses mainly consist of (i) payroll expenses, (ii) technologies services expenses related to platform development and data analysis to support the Group’s business operations, (iii) other expenses related to research and development functions. Research and development expenses are expensed as incurred. (t) Selling and marketing expenses Selling and marketing expenses consist primarily of staff costs, promotion expense, accrued credit points for online store consumption and other related incidental expenses that are incurred to conduct the Company’s sales and marketing activities. (u) General and administrative expenses General and administrative expenses consist primarily of salaries, services charges, depreciation of property and equipment, amortization of operating leasing assets, professional services fees, rental and other general corporate related expenses. (v) Employee benefits Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions made. The total amounts of such employee benefit expenses, which were expensed as incurred, were approximately RMB907,923 (US$127,535) and RMB484,097 for the six months ended September 30, 2025 and 2024, respectively. (w) Taxation Income taxes Current income taxes are provided on the basis of income/loss for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are provided using the assets and liabilities method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statement of income and comprehensive income in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more-likely-than-not that some portion of, or all of the deferred tax assets will not be realized. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Group considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group considers possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry. Value added tax Revenue represents the invoiced value of goods and services, net of VAT. The VAT is based on gross sales price with VAT rates of 3% and 6%, depending on the type of products sold. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in taxes payable or other current assets. All of the VAT returns filed by the Group’s subsidiaries in PRC remain subject to examination by the tax authorities for five years from the date of filing. Uncertain tax positions The Group applies the provisions of ASC topic 740 (“ASC 740”), Accounting for Income Taxes, to account for uncertainty in income taxes. ASC 740 prescribes a recognition threshold a tax position is required to meet before being recognized in the financial statements. The benefit of a tax position is recognized if a tax return position or future tax position is “more likely than not” to be sustained under examination based solely on the technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured, using a cumulative probability approach, at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The estimated liability for unrecognized tax benefits are periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, changes and or developments with respect to tax audits, and the expiration of the statute of limitations. Additionally, in future periods, changes in facts and circumstances, and new information may require the Group to adjust the recognition and measurement of estimates with regards to changes in individual tax position. Changes in recognition and measurement of estimates are recognized in the period which the change occurs. The Group’s operating subsidiaries in PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB100,000 (US$14,047). In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred. (x) Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation. (y) Statutory reserves Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”)). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Group has accumulated losses from prior periods, the Group is able to use the current period net profit after tax to offset against the accumulated loss. For the six months ended September 30, 2025 and 2024, profit appropriation to statutory surplus fund for the Group’s entities incorporated in the PRC was both nil. No appropriation to other reserve funds was made for any of the periods presented. (z) Comprehensive income (loss) The Group has adopted FASB Accounting Standard Codification Topic 220 (“ASC 220”) “Comprehensive income”, which establishes standards for reporting and the presentation of comprehensive income (loss), its components and accumulated balances. There was no other comprehensive loss for the six months ended September 30, 2025 and 2024. (aa) Segment Reporting ASC 280 establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Based on the criteria established by ASC 280, the Group’s CODM has been identified as the Group’s Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing the performance of the Group. As a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s long-lived assets are substantially located in the PRC, no geographical segments are presented. (ab) Commitments and contingencies In the normal course of business, the Group is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the consolidated financial statements. If the assessment indicates that a potential loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed. (ac) Recently issued accounting pronouncements In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires specific disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will result in the required additional disclosures being included in the consolidated financial statements, once adopted. The Group adopted this standard since March 31, 2024. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280)” (“ASU 2023-07”). The amendments in ASU 2023-07 improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision useful financial analyses. Topic 280 requires a public entity to report a measure of segment profit or loss that the chief operating decision maker (CODM) uses to assess segment performance and make decisions about allocating resources. Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization, and depletion expense, to be disclosed under certain circumstances. The amendments in ASU 202307 do not change or remove those disclosure requirements. The amendments in ASU 2023-07 also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in ASU 2023-07 are effective for years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, adopted retrospectively. The Group considers that the guidance will not have a significant impact on the disclosures set out in these consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Improvements to expense disaggregation disclosures (Subtopic 220-40). During the FASB’s 2021 agenda consultation and other outreach, investors observed that expense information is critically important in understanding a company’s performance, assessing its prospects for future cash flows, and comparing its performance over time and with that of other companies. They indicated that more granular expense information would assist them in better understanding an entity’s cost structure and forecasting future cash flows. The ASU addresses this feedback by requiring public companies to disclose, in the notes to financial statements, specified information about certain costs and expenses at each interim and annual reporting period. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated balance sheets, statements of operation and comprehensive income, and statements of cash flows.

(a) Basis of presentation The consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) pursuant to the rules and regulations of the Securities Exchange Commission (“SEC”).

(b) Emerging growth company The Group is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act of 2002, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved. Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that an emerging growth company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such an election to opt out is irrevocable. The Group has elected not to opt out of such extended transition period, which means that when a standard is issued or revised and it has different application dates for public or private companies, the Group, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Group’s financial statements with another public company that is neither an emerging growth company nor an emerging growth company that has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

(c) Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries, the VIE and the VIE’s subsidiaries in which WFOE is the primary beneficiary. The results of the subsidiaries are consolidated from the date on which the Company obtained control and continues to be consolidated until the date that such control ceases. A controlling financial interest is typically determined when a company holds a majority of the voting equity interest in an entity. However, if the Company demonstrates its ability to control the VIE through power to govern the activities which most significantly impact the VIE’ economic performance and is obligated to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE, then the entity is consolidated. All intercompany balances and transactions between the Company, its subsidiaries, the VIE and the VIE’s subsidiaries have been eliminated in consolidation.

(d) Use of estimates In preparing the consolidated financial statements in conformity U.S. GAAP, the management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These accounting estimates used in the preparation of the consolidated financial statements will change as new events occur, as more experience is acquired, as additional information is obtained and as our operating environment changes. These estimates are based on management’s best available information including current events, historical experience, actions that the company may undertake in the future and on various other assumptions that are believed to be reasonable under the circumstances. Significant estimates required to be made by management include, but are not limited to, assessment of the expected credit losses for financial assets, impairment of goodwill, realization of deferred tax assets, and implicit interest rate of operating leases. As a result, actual results may be different from these estimates.

(e) Functional currency and foreign currency translation The Group uses Renminbi (“RMB”) as its reporting currency. The functional currency of the Company and its overseas subsidiaries which incorporated in the Cayman Islands is US Dollar (“USD”). The functional currency of the Company’s subsidiary which incorporated in Hong Kong is Hong Kong Dollar (“HK$”). The functional currency of the Company’s VIE and the VIE’s subsidiaries which are incorporated in PRC is RMB. In the consolidated financial statements, the financial information of the Company and other entities located outside of PRC has been translated into RMB. Assets and liabilities are translated at the exchange rates on the balance sheet date, equity amounts are translated at historical exchange rates, and revenues, expenses, gains and losses are translated using the average rate for the periods. Translation adjustments are reported as foreign currency translation adjustments and are shown as a component of other comprehensive losses in the consolidated statements of operations and comprehensive income(loss), if any. Transactions denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing on the transaction dates. Financial assets and liabilities denominated in foreign currencies are re-measured into the functional currency at the exchange rates prevailing at the balance sheet date.

(f) Convenience Translation The Group’s business is primarily conducted in China and all of the revenues are denominated in RMB. However, periodic reports made to shareholders will include current period amounts translated into US dollars using the exchange rate as of balance sheet date, for the convenience of the readers. Translations of balances in the consolidated balance sheets and the related consolidated statements of operations, change in equity and cash flows from Renminbi (“RMB”) into US dollars as of and for the fiscal six months ended September 30, 2025 are solely for the convenience of the readers and were calculated at the rate of USD1.00=RMB7.119 representing the noon buying rate set forth in the H.10 statistical release of the U.S. Federal Reserve Board on September 30, 2025. The same exchange rate has been applied consistently to all periods presented for convenience translation purposes. No representation is made that the RMB amounts could have been, or could be, converted, realized or settled into USD at that rate on September 30, 2025, or at any other rate.

the convenience of the readers and were calculated at the rate of USD1.00=RMB7.119

(g) Non-controlling interests Non-controlling interests are recognized to reflect the portion of their equity that is not attributable, directly or indirectly, to the Company as the controlling shareholder. There is RMB137,537 (US$19,320) and RMB219,174 of non-controlling interests recognized by the Company as of September 30, 2025 and March 31, 2025, respectively.

-137537

-19320

-219174

(h) Fair value of financial instruments The Company, its wholly-owned subsidiaries, VIE and the VIE’s subsidiaries adopted the guidance of ASC 820 for fair value measurements which clarifies the definition of fair value, prescribes methods for measuring fair value, and establishes a fair value hierarchy to classify the inputs used in measuring fair value as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="width: 4%; text-align: justify"> </td> <td style="vertical-align: top; width: 4%; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 1 — Inputs are unadjusted quoted prices in active markets for identical assets or liabilities available at the measurement date.</td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 2 — Inputs are unadjusted quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets and liabilities in markets that are not active, inputs other than quoted prices that are observable, and inputs derived from or corroborated by observable market data.</td></tr> <tr> <td style="text-align: justify"> </td> <td style="vertical-align: top; text-align: justify">·</td> <td style="vertical-align: top; text-align: justify">Level 3 — Inputs are unobservable inputs which reflect the reporting entity’s own assumptions on what assumptions the market participants would use in pricing the asset or liability based on the best available information.</td></tr> </table> The carrying amounts reported in the balance sheets of cash and cash equivalents, prepayments and other current assets, accrued expenses and other current liabilities, approximate their fair value based on the short-term maturity of these instruments. The Group did not have any non-financial assets or liabilities that are measured at fair value on a recurring basis as of September 30, 2025 and March 31, 2025.

(i) Cash and cash equivalents Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less. (j) Allowance for credit losses The Group records allowance for credit losses under ASC 326 based on assessment of the recoverability of the receivables and individual accounts analysis, including the current creditworthiness and the past collection history of each customer. The Group considers many factors in assessing the expected credit losses model, such as size, the age of the accounts, the customer’s payment history, credit-worthiness and other specific circumstances related to the accounts, along with reasonable and supportable future economic conditions as a basis to develop the Group’s expected loss estimates, in combination with assessing receivable collectability on an individual basis, and applying current situation adjustment. Account balances are charged off against the allowance after all means of collection have been exhausted and the likelihood of collection is not probable. There is no allowance for credit losses recognized as of September 30, 2025 and March 31, 2025, respectively. Cash and cash equivalents represent cash on hand and demand deposits placed with banks or other financial institutions, which are unrestricted as to withdrawal and use, and which have original maturities of three months or less.

(k) Inventories Inventories are stated at the lower of cost or market value. Costs include the cost of products purchased from third party suppliers. The cost of inventories is calculated using the weighted average method. Any excess of the cost over the net realizable value of each item of inventories is recognized as a provision for diminution in the value of inventories. Net realizable value is the estimated selling price in the normal course of business less any costs to complete and sell products. Allowances for obsolescence are also assessed based on expiration dates, as applicable, taking into consideration historical and expected future product sales.

(l) Property and equipment, net Property and equipment are recorded at cost net of accumulated depreciation and impairment losses. Gains and losses on disposal of property and equipment are included in other income, net. Significant additions or improvements extending useful lives of assets are capitalized. Maintenance and repairs are charged to expense as incurred. Depreciation is provided over the estimated useful life of each class of depreciable assets and is computed using the straight-line method over the useful lives of the assets are as follows: <table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--ScheduleOfEstimatedUsefulLivesTableTextBlock_zffgh3bkB5B7" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Summary of principal accounting policies (Details)"> <tr> <td style="vertical-align: bottom"> Schedule of estimated useful lives</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 71%; text-align: justify">Category</td> <td style="width: 1%; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 28%; text-align: justify">Estimated useful lives</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Leasehold Improvement</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z2nXHASe8cd1" title="Estimated useful lives">2-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zCEkJc1raXE8" title="Estimated useful lives">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Electronic equipment </td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">3 years</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Office furniture</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zLbXOO63fa4d" title="Estimated useful lives">3-<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zjCnZrthugf1" title="Estimated useful lives">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Vehicle</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">4 years</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89E_ecustom--ScheduleOfEstimatedUsefulLivesTableTextBlock_zffgh3bkB5B7" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Summary of principal accounting policies (Details)"> <tr> <td style="vertical-align: bottom"> Schedule of estimated useful lives</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"> </td></tr> <tr> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 71%; text-align: justify">Category</td> <td style="width: 1%; text-align: justify"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 28%; text-align: justify">Estimated useful lives</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Leasehold Improvement</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"><span id="xdx_904_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_z2nXHASe8cd1" title="Estimated useful lives">2-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zCEkJc1raXE8" title="Estimated useful lives">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Electronic equipment </td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">3 years</td></tr> <tr style="background-color: rgb(238,238,238)"> <td style="vertical-align: bottom; text-align: justify">Office furniture</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify"><span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MinimumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zLbXOO63fa4d" title="Estimated useful lives">3-<span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20250930__srt--RangeAxis__srt--MaximumMember__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zjCnZrthugf1" title="Estimated useful lives">5 years</td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; text-align: justify">Vehicle</td> <td style="text-align: justify"> </td> <td style="vertical-align: bottom; text-align: justify">4 years</td></tr> </table>

P2Y

P5Y

P3Y

P5Y

P4Y

(m) Goodwill Goodwill represents the excess of purchase price over fair value of the identifiable net assets of businesses acquired in a business combination. Goodwill is not amortized and the Group assesses goodwill for impairment in accordance with ASC Subtopic 350-20, Intangibles-Goodwill and Other: Goodwill (“ASC 350-20”), which requires goodwill to be tested for impairment at the reporting unit level at least annually and more frequently upon the occurrence of certain events, as defined by ASC 350-20. The impairment test is performed as of year-end or if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount by comparing the fair value of a reporting unit with its carrying value. If the fair value of the reporting unit exceeds its carrying amount, goodwill is not impaired and no further testing is required. If the fair value of the reporting unit is less than the carrying value, an impairment charge is recognized for the amount by which the carrying amount exceeds the reporting unit’s fair value; however, the loss recognized should not exceed the total amount of goodwill allocated to that reporting unit. The impairment review is highly judgmental and involves the use of significant estimates and assumptions. These estimates and assumptions have a significant impact on the amount of any impairment charge recorded. Estimates of fair value are primarily determined by using discounted cash flows. Discounted cash flows method is dependent upon assumptions of future sales trends, market conditions and cash flows of each reporting unit over several years. Actual cash flows in the future may differ significantly from those previously forecasted. Other significant assumptions include growth rates and the discount rate applicable to future cash flows.

(n) Impairment of long-lived assets The Group evaluates its long-lived assets, including plant and equipment and right-of-use assets with finite lives, for impairment whenever events or changes in circumstances, such as a significant adverse change to market conditions that will impact the future use of the assets, indicate that the carrying amount of an asset may not be fully recoverable. When these events occur, the Group evaluates the recoverability of long-lived assets by comparing the carrying amounts of the assets to the future undiscounted cash flows expected to result from the use of the assets and their eventual disposition. If the sum of the expected undiscounted cash flows is less than the carrying amounts of the assets, the Group recognizes an impairment loss based on the excess of the carrying amounts of the assets over their fair value. Fair value is generally determined by discounting the cash flows expected to be generated by the assets, when the market prices are not readily available. As of September 30, 2025 and March 31, 2025, there was no impairment of long-lived assets.

(o) Deferred offering costs In accordance with ASC 340-10-S99-1 and SEC Accounting Bulletin Topic 5A, specific incremental costs incurred by the Group directly attributable to a proposed initial public offering have been deferred and will be charged against the gross proceeds of the offering. These offering costs include fees paid to underwriters, attorneys, financial consultants as well as printers and other third parties directly related to the offering. Costs such as management salaries or other general administrative expenses that are not incremental to the offering are not included in the deferred costs. If the proposed initial public offering is no longer probable of occurring, the deferred costs will be expensed at that time. The balance of deferred offering costs recognized as at the year ended September 30, 2025 and March 31, 2025 were RMB 5,886,177 (US$ 826,826) and RMB 3,781,659, respectively.

5886177

826826

3781659

(p) Lease The Group accounted for leases in accordance with ASC Topic 842, Leases. The Group determines if an arrangement is a lease at inception. All the Group’s leases are operating leases. Operating lease ROU assets and operating lease liabilities are recognized based on the present value of the future minimum lease payments over the lease term at commencement date. As most of the Group’s leases do not provide an implicit rate, the Group uses its incremental borrowing rate (“IBR”) based on the information available at commencement date in determining the present value of future payments. The operating lease ROU asset also includes any lease payments made and excludes lease incentives and includes initial direct costs incurred. The Group’s lease terms may include options to extend or terminate the lease when it is reasonably certain that the Group will exercise that option. Lease expenses for minimum lease payments are recognized on a straight-line basis over the lease term. All operating lease right-of-use assets are reviewed for impairment annually. There was no impairment for operating lease right-of-use lease assets for the six months ended September 30, 2025 and 2024. The Group elected not to record assets and liabilities on its consolidated balance sheet for lease arrangements with terms of 12 months or less. The Group recognizes lease expenses for such lease on a straight-line basis over the lease term.

(q) Revenue recognition ASC 606, Revenue from Contracts with customers, establishes principles for reporting information about the nature, amount, timing and uncertainty of revenue and cash flows arising from the entity’s contracts to provide goods or services to customers. The core principle requires an entity to recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration that it expects to be entitled to receive in exchange for those goods or services recognized as performance obligations are satisfied. ASC 606 requires the use of a five-step model to recognize revenue from customer contracts. The five-step model requires that the Group (i) identify the contract with the customer, (ii) identify the performance obligations in the contract, (iii) determine the transaction price, including variable consideration to the extent that it is probable that a significant future reversal will not occur, (iv) allocate the transaction price to the respective performance obligations in the contract, and (v) recognize revenue when (or as) the Group satisfies the performance obligation. The application of the five-step model to the revenue streams compared to the prior guidance did not result in significant changes in the way the Group records its revenue. The Group has assessed the impact of the guidance by reviewing its existing customer contracts and current accounting policies and practices to identify differences that would result from applying the new requirements, including the evaluation of its performance obligations, transaction price, customer payments, transfer of control and principal versus agent considerations. Based on the assessment, the Group concluded that there was no change to the timing and pattern of revenue recognition for its current revenue streams. The following table sets forth a breakdown of our revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--DisaggregationOfRevenueTableTextBlock_zXrSKiDT4dNf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of breakdown of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Revenue</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: justify">Sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zp9Xv83s23G5" style="width: 8%; text-align: right" title="Total revenue">3,026,651</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zmj8kLQSqab" title="Total revenue percentage">7.2</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zVVgmeXnfLZ7" style="width: 8%; text-align: right" title="Total revenue">46,624,953</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zAax3agKcV1d" style="width: 8%; text-align: right" title="Total revenue">6,549,368</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zdC1zZjTDg58" title="Total revenue percentage">92.3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">DAKA merchant membership services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zVgQaUIpzfLk" style="text-align: right" title="Total revenue">39,037,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zCDMCfnqWnX1" title="Total revenue percentage">92.3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z9YH9f5QHulf" style="text-align: right" title="Total revenue">3,865,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zNIL6e7zSIv8" style="text-align: right" title="Total revenue">542,934</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_ztk4Yw7YS0V8" title="Total revenue percentage">7.7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Other revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zfJ1ichNieva" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">234,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zz6HbeH6xRwg" title="Total revenue percentage">0.5</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zLbiOEFEypk5" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zLQpWOAagPgj" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_z26rdIV4Tb9l" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_c20240401__20240930_z2Bd4ClBWMs5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">42,299,076</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zUwYoia1Uctb" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_c20250401__20250930_zqalBJRd8iNj" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">50,490,097</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_uUSD_c20250401__20250930_zMN1w4Rsfvij" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">7,092,302</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zPo144Jt6vh5" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Sports-related product sales The Group accounts for the revenue generated from sales of its products on a gross basis as the Group is acting as a principal in these transactions. The Group is subject to inventory risk, has latitude in establishing prices, and is responsible for fulfilling the promise to provide customers the specified goods, therefor the Group has control of the goods and has the ability to direct the use of goods to obtain substantially all the benefits. All of the Group’s contracts have one single performance obligation as the promise is to transfer the individual goods to customers, and there are no separately identifiable other promises in the contracts. The Group offers customer warranty of 30 days for defective products that is beyond contemplated defective rate mutually agreed in contract with customers normally. The Group analyzed historical refund claims for defective products and concluded that they have been immaterial. The Group’s revenue streams are recognized at a point in time when title and risk of loss passes and the customer accepts the goods, which generally occurs at receipt. Revenue is reported net of all value added taxes (“VAT”). DAKA merchant membership service revenue For services provided, as a principal, the Group charges its business partners (and/or their authorized distributors) of DAKA Lifestyle Stores a combination of fixed fees based on the number of orders fulfilled or other factors. Revenue generated from some IT solutions such as one-time payment system setup service is recognized at a point in time when the services are rendered. Revenue generated from services relating to offline and online store operation, digital marketing, customer services, and fulfillment are recognized over the service term in the amount including fixed fees and/or variable fees to which the Group has the right to invoice. The following table sets forth a breakdown of the Company’s DAKA merchant membership service revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--DisaggregationOfRevenue2TableTextBlock_zYOJuMugoB1f" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of DAKA revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">DAKA merchant membership service revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Technical service related to smart devices revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zj4TPNblpv4e" style="width: 8%; text-align: right" title="Total revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zjlu1sTb1PTg" title="Total revenue percentage">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zjtRVhiy20g5" style="width: 8%; text-align: right" title="Total revenue">2,019,424</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zxIUVGQ7LGya" style="width: 8%; text-align: right" title="Total revenue">283,667</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zzrENrGq8vc9" title="Total revenue percentage">52.3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Set-up fee revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zEuNwtc5wMhi" style="text-align: right" title="Total revenue">39,037,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zuC0Jd6EvqXk" title="Total revenue percentage">100.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zP0qnCuDsSTj" style="text-align: right" title="Total revenue">98,812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_z3yXHhtdQEC9" style="text-align: right" title="Total revenue">13,880</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zKmOTRiDPqCk" title="Total revenue percentage">2.6</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zZQff5lqN2n4" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zsHjy1UwGR6j" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zZNdhyfoGKyl" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">1,746,908</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zzvpkDDyl5f4" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">245,387</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zKPYsKfQ5MR4" title="Total revenue percentage">45.1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total DAKA merchant membership service revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zlZfpvZAOihb" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">39,037,736</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zjrPLCB3gqTf" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zuZDs7WjtIAj" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">3,865,144</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zSGulVPVBCpe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">542,934</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zUPu0xbpN4Ie" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The Company’s DAKA merchant membership service agreements are on a fixed rate basis, which include fixed brand license fee, system setup service, and equipment supply, etc. The Company recognizes technical service related to smart devices revenue and set-up fee revenue upon the satisfaction of its performance obligation (satisfaction of its performance obligation (upon transfer of control of promised smart devices with acceptance of customers and the completeness of set-up services to customers (for example, the delivery of renovation drawings accepted and delivered to customers)) in an amount that reflects the consideration to which the Company expects to be entitled to in exchange for those goods or services, excluding amounts collected on behalf of third parties (for example, value added taxes). The contract typically contains multiple distinct performance obligations (e.g., setup services, equipment supply, and ongoing support). The customer can benefit from the good or service either on its own or together with other resources that are readily available to the customer. For example, the setup services (such as site design and floor plans, etc.) represent a distinct performance obligation because the customer can benefit from them on their own. This is demonstrated by the contractual right for the customer to independently use these design outputs to hire third-party contractors for construction. The services are separately identifiable as they are completed prior to and are not highly integrated with subsequent ongoing support or equipment provisioning, requiring specialized expertise and transferring discrete value to the customer upon delivery and acceptance of the design deliverables. The transaction price is allocated to each performance obligation based on its standalone selling price without any variable considerations. The Company provides the customers with an exclusive right to operate in a designated region and maintains a stand-ready obligation to support platform operations, supply chain management, and related services. The performance obligation is satisfied over the contractual term when the customers simultaneously receive and consume the benefits of the exclusive rights and platform support. Exclusive regional agency authorization revenue is recognized over the authorization contract period. The authorization fee is paid in full upon contract execution. Revenues from such arrangements are recognized on a straight-line basis over the contractual term. Other revenue The Group also generates other revenue mainly by local life service fee and franchise income on its online platform. The Group recognizes revenues in the gross amount at a point in time when the control of the service and the product is transferred to customers. Principal versus agent considerations For all the services provided, the Company considers itself the principal and recognizes revenue on a gross basis as it controls the services through the following key considerations: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; text-align: justify"> </td> <td style="width: 24px; text-align: justify">·</td> <td> The Company reserves the right to accept or reject the contracts or orders with the customers without involvement of the third parties and directs the selected third parties to provide services to the customers on the Company’s behalf. There is no direct cooperation relationship between third parties and the customers. There is no difference in the Company’s arrangements with the customers whether the Company utilizes its employees, third parties, or a combination of both. The Company is the principal and primarily responsible for fulfilling the promise to provide services to its customers in the arrangement and its principal purpose is to satisfy its performance obligations to the customers by providing DAKA merchant membership service itself or by engaging the third-party suppliers on behalf of the Company. The Company assumes responsibility for receiving and resolving the complaints over the quality of the services. If the third-party service providers fail to deliver their work and thus affect the Company’s performance obligation to customers, the Company should bear the loss of the customers for breach of contract on its own, and then independently claim for compensation from third-party service providers for its loss. </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify">·</td> <td style="text-align: justify">The Company utilizes both its employees and third parties to provide services to customers. The Company has discretion in setting up the price with third party suppliers. The third parties involved are entitled to a fixed services fee agreed upon in advance irrespective of the consideration the Company collects from the customers.</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify"> </td> <td style="text-align: justify">·</td> <td style="text-align: justify">The Company bears the credit risk as the Company pays the consideration due to third parties irrespective of whether the customers have paid the services consideration to the Company.</td></tr> </table> Contract Balances When either party to a contract has performed, the Group presents the contract in the consolidated balance sheets as a contract asset or a contract liability, depending on the relationship between the entity’s performance and the customer’s payment. A contract asset is the right to consideration in exchange for goods or services transferred to the customer. If the Group performs by transferring goods or services to a customer before the customer pays consideration or before a payment is due, a contract asset is recognized for the earned consideration that is conditional. Contract assets are subject to impairment assessment. A contract liability is recognized when a payment is received or a payment is due (whichever is earlier) from a customer before the Group transfers the related goods or services. Contract liabilities are recognized as revenue when the Group performs under the contract. As of September 30, 2025 and March 31, 2025, contract liabilities amounted to RMB8,651,000 (US$1,215,199) and RMB10,502,722, respectively, were primarily presented as “Advances from customers” on the consolidated balance sheets. Revenue recognized that was included in contract liabilities at the beginning of the period was RMB1,851,722 (US$260,110) and RMB27,893,632 for the six months ended September 30, 2025 and 2024, respectively.

<table cellpadding="0" cellspacing="0" id="xdx_899_eus-gaap--DisaggregationOfRevenueTableTextBlock_zXrSKiDT4dNf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of breakdown of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Revenue</td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td><td> </td> <td colspan="2" style="text-align: justify"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: justify">Sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zp9Xv83s23G5" style="width: 8%; text-align: right" title="Total revenue">3,026,651</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zmj8kLQSqab" title="Total revenue percentage">7.2</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zVVgmeXnfLZ7" style="width: 8%; text-align: right" title="Total revenue">46,624,953</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zAax3agKcV1d" style="width: 8%; text-align: right" title="Total revenue">6,549,368</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--SportsRelatedProductSalesMember_zdC1zZjTDg58" title="Total revenue percentage">92.3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">DAKA merchant membership services revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zVgQaUIpzfLk" style="text-align: right" title="Total revenue">39,037,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zCDMCfnqWnX1" title="Total revenue percentage">92.3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_z9YH9f5QHulf" style="text-align: right" title="Total revenue">3,865,144</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zNIL6e7zSIv8" style="text-align: right" title="Total revenue">542,934</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_ztk4Yw7YS0V8" title="Total revenue percentage">7.7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: justify; padding-bottom: 1pt">Other revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zfJ1ichNieva" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">234,689</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zz6HbeH6xRwg" title="Total revenue percentage">0.5</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zLbiOEFEypk5" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherRevenueMember_zLQpWOAagPgj" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember__srt--ProductOrServiceAxis__custom--OtherRevenueMember_z26rdIV4Tb9l" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_c20240401__20240930_z2Bd4ClBWMs5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">42,299,076</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zUwYoia1Uctb" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--Revenues_c20250401__20250930_zqalBJRd8iNj" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">50,490,097</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--Revenues_uUSD_c20250401__20250930_zMN1w4Rsfvij" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">7,092,302</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalRevenuesMember_zPo144Jt6vh5" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

3026651

0.072

46624953

6549368

0.923

39037736

0.923

3865144

542934

0.077

234689

0.005

42299076

1.000

50490097

7092302

1.000

<table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--DisaggregationOfRevenue2TableTextBlock_zYOJuMugoB1f" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of DAKA revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right" title="Total revenue"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">DAKA merchant membership service revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Technical service related to smart devices revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--Revenues_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zj4TPNblpv4e" style="width: 8%; text-align: right" title="Total revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zjlu1sTb1PTg" title="Total revenue percentage">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zjtRVhiy20g5" style="width: 8%; text-align: right" title="Total revenue">2,019,424</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zxIUVGQ7LGya" style="width: 8%; text-align: right" title="Total revenue">283,667</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--TechnicalServiceMember_zzrENrGq8vc9" title="Total revenue percentage">52.3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Set-up fee revenue</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zEuNwtc5wMhi" style="text-align: right" title="Total revenue">39,037,736</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zuC0Jd6EvqXk" title="Total revenue percentage">100.0</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zP0qnCuDsSTj" style="text-align: right" title="Total revenue">98,812</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_z3yXHhtdQEC9" style="text-align: right" title="Total revenue">13,880</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--SetUpFeeRevenueMember_zKmOTRiDPqCk" title="Total revenue percentage">2.6</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Exclusive regional agency authorization revenue</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zZQff5lqN2n4" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zsHjy1UwGR6j" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--Revenues_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zZNdhyfoGKyl" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">1,746,908</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zzvpkDDyl5f4" style="border-bottom: Black 1pt solid; text-align: right" title="Total revenue">245,387</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember__us-gaap--TransactionTypeAxis__custom--RegionalAgencyAuthorizationRevenueMember_zKPYsKfQ5MR4" title="Total revenue percentage">45.1</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total DAKA merchant membership service revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--Revenues_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zlZfpvZAOihb" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">39,037,736</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zjrPLCB3gqTf" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_eus-gaap--Revenues_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zuZDs7WjtIAj" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">3,865,144</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--Revenues_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zSGulVPVBCpe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total revenue">542,934</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--SalesRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesRevenueMember_zUPu0xbpN4Ie" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

2019424

283667

0.523

39037736

1.000

98812

13880

0.026

1746908

245387

0.451

39037736

1.000

3865144

542934

1.000

8651000

1215199

10502722

1851722 260110 27893632 (r) Cost of revenues Cost of revenue consists primarily of the purchase costs incurred in sports-related products sales and referral service cost to the suppliers which is directly attributable to the Group’s principal operations. The following table sets forth a breakdown of cost of revenues for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--CostOfRevenuesTableTextBlock_zXP2NiGNi51" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of breakdown of cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Cost of revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: left">Cost of sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zfWPAXugRkBf" style="width: 8%; text-align: right" title="Total cost of revenue">1,285,375</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zxDcWFpAIZr2" title="Total revenue percentage">10.9</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20250401__20250930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zoFgLFvjFuZ5" style="width: 8%; text-align: right" title="Total cost of revenue">11,659,277</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--CostOfRevenue_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zgTabaHKt72c" style="width: 8%; text-align: right" title="Total cost of revenue">1,637,769</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_z5e7pZgjuaLk" title="Total revenue percentage">99.9</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">DAKA merchant membership service cost</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zKbCOlmwPjG3" style="text-align: right" title="Total cost of revenue">10,367,650</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zPF7iJyz5cPk" title="Total revenue percentage">87.9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_znR10CC5jKQg" style="text-align: right" title="Total cost of revenue">1,480</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zBu0pmgRuMv" style="text-align: right" title="Total cost of revenue">208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zKH0YVmvM9S8" title="Total revenue percentage">0.1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--OtherCostMember_zIN2If9jpR75" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">139,037</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zBL49eJpFCt2" title="Total revenue percentage">1.2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_iN_di0_uCNY_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherCostMember_zMD6Til6HQSd" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_iN_di0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherCostMember_zg4OZta5Yn2a" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zE0hAShVJOt4" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--CostOfRevenue_c20240401__20240930_zmDppSR2DW2f" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">11,792,062</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_zBij6qITmHo2" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--CostOfRevenue_c20250401__20250930_z2kv9hJnWZIk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">11,660,757</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20250401__20250930_znLw4i86LL4c" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">1,637,977</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_z3vLODxPj4le" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table sets forth a breakdown of the Company’s DAKA merchant membership service costs for the periods presented: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">DAKA merchant membership service costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Set-up cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z1EzPPXShsx7" style="width: 8%; text-align: right" title="Total cost of revenue">10,367,650</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zbuVpzuavAxb" title="Total revenue percentage">100.0</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zT92cgHNdL8j" style="width: 8%; text-align: right" title="Total cost of revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z064W3MKqgDf" style="width: 8%; text-align: right" title="Total cost of revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zXm5diuU252a" title="Total revenue percentage">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zEseVpfJ4f7e" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zILB5fSD47Oi" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zMlVcu9Hvc4k" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">1,480</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zjADkbpimeb4" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">208</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zp4Roiax9Eh4" title="Total revenue percentage">100.0</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of DAKA merchant membership service</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zWbuUwmCQPAk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">10,367,650</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zoWB58UxGOd8" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zQINUrRUaFF5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total cost of revenue">1,480</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_z3AlKRKqsp98" style="border-bottom: Black 2.5pt double; text-align: right" title="Total cost of revenue">208</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zamtdwBM2vX8">100.0</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_89B_ecustom--CostOfRevenuesTableTextBlock_zXP2NiGNi51" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Summary of principal accounting policies (Details 2)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of breakdown of cost of revenues</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold">Cost of revenue</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 45%; text-align: left">Cost of sports-related product sales</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zfWPAXugRkBf" style="width: 8%; text-align: right" title="Total cost of revenue">1,285,375</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zxDcWFpAIZr2" title="Total revenue percentage">10.9</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_c20250401__20250930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zoFgLFvjFuZ5" style="width: 8%; text-align: right" title="Total cost of revenue">11,659,277</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--CostOfRevenue_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_zgTabaHKt72c" style="width: 8%; text-align: right" title="Total cost of revenue">1,637,769</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--CostOfSportsRelatedProductSalesMember_z5e7pZgjuaLk" title="Total revenue percentage">99.9</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">DAKA merchant membership service cost</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zKbCOlmwPjG3" style="text-align: right" title="Total cost of revenue">10,367,650</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zPF7iJyz5cPk" title="Total revenue percentage">87.9</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_znR10CC5jKQg" style="text-align: right" title="Total cost of revenue">1,480</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zBu0pmgRuMv" style="text-align: right" title="Total cost of revenue">208</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zKH0YVmvM9S8" title="Total revenue percentage">0.1</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--OtherCostMember_zIN2If9jpR75" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">139,037</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zBL49eJpFCt2" title="Total revenue percentage">1.2</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_iN_di0_uCNY_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherCostMember_zMD6Til6HQSd" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_iN_di0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--OtherCostMember_zg4OZta5Yn2a" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember__srt--ProductOrServiceAxis__custom--OtherCostMember_zE0hAShVJOt4" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of revenue</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--CostOfRevenue_c20240401__20240930_zmDppSR2DW2f" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">11,792,062</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_zBij6qITmHo2" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--CostOfRevenue_c20250401__20250930_z2kv9hJnWZIk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">11,660,757</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--CostOfRevenue_uUSD_c20250401__20250930_znLw4i86LL4c" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">1,637,977</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--TotalCostOfRevenueMember_z3vLODxPj4le" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The following table sets forth a breakdown of the Company’s DAKA merchant membership service costs for the periods presented: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="18" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the Six Months Ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">(Unaudited)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">DAKA merchant membership service costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 45%; text-align: left">Set-up cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z1EzPPXShsx7" style="width: 8%; text-align: right" title="Total cost of revenue">10,367,650</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zbuVpzuavAxb" title="Total revenue percentage">100.0</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zT92cgHNdL8j" style="width: 8%; text-align: right" title="Total cost of revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_z064W3MKqgDf" style="width: 8%; text-align: right" title="Total cost of revenue">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 8%; text-align: right"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--SetUpCostMember_zXm5diuU252a" title="Total revenue percentage">–</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other cost</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_eus-gaap--CostOfRevenue_d0_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zEseVpfJ4f7e" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp0_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zILB5fSD47Oi" title="Total revenue percentage">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zMlVcu9Hvc4k" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">1,480</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98C_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zjADkbpimeb4" style="border-bottom: Black 1pt solid; text-align: right" title="Total cost of revenue">208</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember__us-gaap--TransactionTypeAxis__custom--OtherCostMember_zp4Roiax9Eh4" title="Total revenue percentage">100.0</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total cost of DAKA merchant membership service</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--CostOfRevenue_c20240401__20240930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zWbuUwmCQPAk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total cost of revenue">10,367,650</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zoWB58UxGOd8" title="Total revenue percentage">100.0</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98F_eus-gaap--CostOfRevenue_d0_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zQINUrRUaFF5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total cost of revenue">1,480</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_984_eus-gaap--CostOfRevenue_d0_uUSD_c20250401__20250930__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_z3AlKRKqsp98" style="border-bottom: Black 2.5pt double; text-align: right" title="Total cost of revenue">208</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp0_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CostOfRevenueMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--ProductConcentrationRiskMember__srt--MajorCustomersAxis__custom--DAKAMerchantServiceCostsMember__srt--ProductOrServiceAxis__custom--DAKAMerchantMembershipServicesCostMember_zamtdwBM2vX8">100.0</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1285375

0.109

11659277

1637769

0.999

10367650

0.879

1480

208

0.001

139037

0.012

-0

11792062

1.000

11660757

1637977

1.000

10367650

1.000

1480

208

10367650

1.000

1480

208

1.000

(s) Research and development expenses Research and development expenses mainly consist of (i) payroll expenses, (ii) technologies services expenses related to platform development and data analysis to support the Group’s business operations, (iii) other expenses related to research and development functions. Research and development expenses are expensed as incurred.

(t) Selling and marketing expenses Selling and marketing expenses consist primarily of staff costs, promotion expense, accrued credit points for online store consumption and other related incidental expenses that are incurred to conduct the Company’s sales and marketing activities.

(u) General and administrative expenses General and administrative expenses consist primarily of salaries, services charges, depreciation of property and equipment, amortization of operating leasing assets, professional services fees, rental and other general corporate related expenses.

(v) Employee benefits Full time employees of the Group in the PRC participate in a government mandated defined contribution plan, pursuant to which certain pension benefits, medical care, employee housing fund and other welfare benefits are provided to the employees. Chinese labor regulations require that the PRC subsidiaries make contributions to the government for these benefits based on certain percentages of the employees’ salaries, up to a maximum amount specified by the local government. The Group has no legal obligation for the benefits beyond the contributions made. The total amounts of such employee benefit expenses, which were expensed as incurred, were approximately RMB907,923 (US$127,535) and RMB484,097 for the six months ended September 30, 2025 and 2024, respectively.

907923

127535

484097

(w) Taxation Income taxes Current income taxes are provided on the basis of income/loss for financial reporting purposes, adjusted for income and expense items which are not assessable or deductible for income tax purposes, in accordance with the regulations of the relevant tax jurisdictions. Deferred income taxes are provided using the assets and liabilities method. Under this method, deferred income taxes are recognized for the tax consequences of temporary differences by applying enacted statutory rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. The tax base of an asset or liability is the amount attributed to that asset or liability for tax purposes. The effect on deferred taxes of a change in tax rates is recognized in the consolidated statement of income and comprehensive income in the period of change. A valuation allowance is provided to reduce the amount of deferred tax assets if it is considered more-likely-than-not that some portion of, or all of the deferred tax assets will not be realized. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. The Group considers positive and negative evidence when determining whether a portion or all of its deferred tax assets will more likely than not be realized. This assessment considers, among other matters, the nature, frequency and severity of current and cumulative losses, forecasts of future profitability, the duration of statutory carry-forward periods, its experience with tax attributes expiring unused, and its tax planning strategies. The ultimate realization of deferred tax assets is dependent upon its ability to generate sufficient future taxable income within the carry-forward periods provided for in the tax law and during the periods in which the temporary differences become deductible. When assessing the realization of deferred tax assets, the Group considers possible sources of taxable income including (i) future reversals of existing taxable temporary differences, (ii) future taxable income exclusive of reversing temporary differences and carry-forwards, (iii) future taxable income arising from implementing tax planning strategies, and (iv) specific known trend of profits expected to be reflected within the industry. Value added tax Revenue represents the invoiced value of goods and services, net of VAT. The VAT is based on gross sales price with VAT rates of 3% and 6%, depending on the type of products sold. Entities that are VAT general taxpayers are allowed to offset qualified input VAT paid to suppliers against their output VAT liabilities. Net VAT balance between input VAT and output VAT is recorded in taxes payable or other current assets. All of the VAT returns filed by the Group’s subsidiaries in PRC remain subject to examination by the tax authorities for five years from the date of filing. Uncertain tax positions The Group applies the provisions of ASC topic 740 (“ASC 740”), Accounting for Income Taxes, to account for uncertainty in income taxes. ASC 740 prescribes a recognition threshold a tax position is required to meet before being recognized in the financial statements. The benefit of a tax position is recognized if a tax return position or future tax position is “more likely than not” to be sustained under examination based solely on the technical merits of the position. Tax positions that meet the “more likely than not” recognition threshold are measured, using a cumulative probability approach, at the largest amount of tax benefit that has a greater than fifty percent likelihood of being realized upon settlement. The estimated liability for unrecognized tax benefits are periodically assessed for adequacy and may be affected by changing interpretations of laws, rulings by tax authorities, changes and or developments with respect to tax audits, and the expiration of the statute of limitations. Additionally, in future periods, changes in facts and circumstances, and new information may require the Group to adjust the recognition and measurement of estimates with regards to changes in individual tax position. Changes in recognition and measurement of estimates are recognized in the period which the change occurs. The Group’s operating subsidiaries in PRC are subject to examination by the relevant tax authorities. According to the PRC Tax Administration and Collection Law, the statute of limitations is three years if the underpayment of taxes is due to computational errors made by the taxpayer or the withholding agent. The statute of limitations is extended to five years under special circumstances, where the underpayment of taxes is more than RMB100,000 (US$14,047). In the case of transfer pricing issues, the statute of limitation is ten years. There is no statute of limitation in the case of tax evasion. Penalties and interest incurred related to underpayment of income tax are classified as income tax expense in the period incurred.

0.03

0.06

100000

14047

(x) Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation. (y) Statutory reserves Pursuant to the laws applicable to the PRC, PRC entities must make appropriations from after-tax profit to the non-distributable “statutory surplus reserve fund”. Subject to certain cumulative limits, the “statutory surplus reserve fund” requires annual appropriations of 10% of after-tax profit until the aggregated appropriations reach 50% of the registered capital (as determined under accounting principles generally accepted in the PRC (“PRC GAAP”)). For foreign invested enterprises and joint ventures in the PRC, annual appropriations should be made to the “reserve fund”. For foreign invested enterprises, the annual appropriation for the “reserve fund” cannot be less than 10% of after-tax profits until the aggregated appropriations reach 50% of the registered capital (as determined under PRC GAAP at each year-end). If the Group has accumulated losses from prior periods, the Group is able to use the current period net profit after tax to offset against the accumulated loss. For the six months ended September 30, 2025 and 2024, profit appropriation to statutory surplus fund for the Group’s entities incorporated in the PRC was both nil. No appropriation to other reserve funds was made for any of the periods presented.

(z) Comprehensive income (loss) The Group has adopted FASB Accounting Standard Codification Topic 220 (“ASC 220”) “Comprehensive income”, which establishes standards for reporting and the presentation of comprehensive income (loss), its components and accumulated balances. There was no other comprehensive loss for the six months ended September 30, 2025 and 2024.

(aa) Segment Reporting ASC 280 establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Based on the criteria established by ASC 280, the Group’s CODM has been identified as the Group’s Chief Executive Officer, who reviews consolidated results when making decisions about allocating resources and assessing the performance of the Group. As a whole and hence, the Group has only one reportable segment. The Group does not distinguish between markets or segments for the purpose of internal reporting. As the Group’s long-lived assets are substantially located in the PRC, no geographical segments are presented.

(ab) Commitments and contingencies In the normal course of business, the Group is subject to contingencies, such as legal proceedings and claims arising out of its business, which cover a wide range of matters. Liabilities for contingencies are recorded when it is probable that a liability has been incurred and the amount of the assessment can be reasonably estimated. If the assessment of a contingency indicates that it is probable that a loss is incurred and the amount of the liability can be estimated, then the estimated liability is accrued in the consolidated financial statements. If the assessment indicates that a potential loss contingency is not probable, but is reasonably possible, or is probable but cannot be estimated, then the nature of the contingent liability, together with an estimate of the range of possible loss, if determinable and material, would be disclosed.

(ac) Recently issued accounting pronouncements In December 2023, the FASB issued ASU 2023-09, Improvements to Income Tax Disclosures (Topic 740). The ASU requires specific disaggregated information about a reporting entity’s effective tax rate reconciliation as well as additional information on income taxes paid. The ASU is effective on a prospective basis for annual periods beginning after December 15, 2024. Early adoption is also permitted for annual financial statements that have not yet been issued or made available for issuance. This ASU will result in the required additional disclosures being included in the consolidated financial statements, once adopted. The Group adopted this standard since March 31, 2024. In November 2023, the FASB issued ASU 2023-07, “Segment Reporting (Topic 280)” (“ASU 2023-07”). The amendments in ASU 2023-07 improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision useful financial analyses. Topic 280 requires a public entity to report a measure of segment profit or loss that the chief operating decision maker (CODM) uses to assess segment performance and make decisions about allocating resources. Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization, and depletion expense, to be disclosed under certain circumstances. The amendments in ASU 202307 do not change or remove those disclosure requirements. The amendments in ASU 2023-07 also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments. The amendments in ASU 2023-07 are effective for years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024, adopted retrospectively. The Group considers that the guidance will not have a significant impact on the disclosures set out in these consolidated financial statements. In November 2024, the FASB issued ASU 2024-03, Improvements to expense disaggregation disclosures (Subtopic 220-40). During the FASB’s 2021 agenda consultation and other outreach, investors observed that expense information is critically important in understanding a company’s performance, assessing its prospects for future cash flows, and comparing its performance over time and with that of other companies. They indicated that more granular expense information would assist them in better understanding an entity’s cost structure and forecasting future cash flows. The ASU addresses this feedback by requiring public companies to disclose, in the notes to financial statements, specified information about certain costs and expenses at each interim and annual reporting period. The amendments in the ASU are effective for annual reporting periods beginning after December 15, 2026, and interim reporting periods beginning after December 15, 2027. Early adoption is permitted. Except for the above-mentioned pronouncements, there are no new recent issued accounting standards that will have a material impact on the consolidated balance sheets, statements of operation and comprehensive income, and statements of cash flows.

3. Concentration of risks (a) Concentration of credit risk Financial instruments that potentially subject the Group to a significant concentration of credit risk consist primarily of cash and cash equivalents. As of September 30, 2025 and March 31, 2025, RMB1,393,400 (US$195,730) and RMB16,579,930 were deposited with financial institutions located in the PRC, respectively, where there is a RMB500,000 deposit insurance limit for a legal entity’s aggregated balance at each bank. As of September 30, 2025 and March 31, 2025, RMB639,715 (US$89,860) and nil of the Group’s cash and cash equivalents held by financial institutions were uninsured, respectively. While the Group believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness. (b) Currency convertibility risk All of the Group’s operating activities are settled in RMB, which is not freely convertible into foreign currencies. All of foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with supporting documents. (c) Concentration of customers and suppliers Major Customers For the six months ended September 30, 2025 and 2024, <span id="xdx_907_eus-gaap--Revenues_do_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorCustomersMember_z8DFRznnZ585" title="Total revenues"><span id="xdx_909_eus-gaap--Revenues_do_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorCustomersMember_zyb0bskHemHh" title="Total revenues">no customer accounted for more than <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorCustomersMember_zuTOFozTlGY6" title="Concentration risk, percentage"><span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorCustomersMember_zR7fCy6QQk5j" title="Concentration risk, percentage">10% of total revenues. Major Suppliers For the six months ended September 30, 2025, two suppliers accounted for approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorOneSupplierMember_z132Eso5Fwog" title="Percentage of revenue">65.1% and <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorTwoSupplierMember_zS3XNmhbYoOh" title="Percentage of revenue">12.5% of the total purchases, respectively. For the six months ended September 30, 2024, three suppliers accounted for approximately <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorOneSupplierMember_zzq3NOcLSAw8" title="Percentage of revenue">37.9%, <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorTwoSupplierMember_zHWqMolrcVZe" title="Percentage of revenue">33.8% and <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20240930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--MajorThreeSupplierMember_zAmVaWK96Z19" title="Percentage of revenue">10.4% of the total purchase. As of September 30, 2025 and March 31, 2025, two suppliers accounted for approximately <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_dp_c20250401__20250930__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneSuppliersMember_zmdUeC9bmiE">79.3% and <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoSuppliersMember_zrOjqetWsJQc">14.6% and <span id="xdx_900_eus-gaap--AccountsReceivableNet_iI_do_c20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SuppliersMember_z5VinLEs5xPj">no supplier accounted more than <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_dp_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--SuppliersMember_zBVistZkqr33">10% of total accounts payable, respectively.

1393400

195730

16579930

500000

639715

89860

0.10

0.651

0.125

0.379

0.338

0.104

0.793

0.146

0.10

4. Inventories Inventories, consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zHiUG1JBIU39" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Inventories (Details)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of inventories</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: justify; padding-bottom: 1pt">Sports-related products</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--InventoryNet_iI_c20250331__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_z2iRA51qFCQ6" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Inventories">632,810</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--InventoryNet_iI_c20250930__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zT5oAWNg5Ihc" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Inventories">71,001</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--InventoryNet_iI_uUSD_c20250930__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zNxR6DYnTd31" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Inventories">9,973</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--InventoryNet_iI_c20250331_zCcPI2xLNC0g" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">632,810</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--InventoryNet_iI_c20250930_zb3Kj0bwBJb" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">71,001</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--InventoryNet_iI_uUSD_c20250930_zXn3ei5I4zod" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">9,973</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The Group commenced the sale and procurement of sports-related products in March 2023. The inventories holding as of September 30, 2025 and March 31, 2025 were transitory for the short period potential sales orders. There were no material slow-moving inventories that would be at risk of becoming obsolete. As a result, there was no write-down allowance of inventories from the carrying amount to its estimated net realizable value for the six months ended September 30, 2025.

<table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zHiUG1JBIU39" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Inventories (Details)"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Schedule of inventories</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: justify; padding-bottom: 1pt">Sports-related products</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--InventoryNet_iI_c20250331__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_z2iRA51qFCQ6" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Inventories">632,810</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--InventoryNet_iI_c20250930__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zT5oAWNg5Ihc" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Inventories">71,001</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--InventoryNet_iI_uUSD_c20250930__srt--CounterpartyNameAxis__custom--SportsRelatedProductsMember_zNxR6DYnTd31" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Inventories">9,973</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--InventoryNet_iI_c20250331_zCcPI2xLNC0g" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">632,810</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_eus-gaap--InventoryNet_iI_c20250930_zb3Kj0bwBJb" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">71,001</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--InventoryNet_iI_uUSD_c20250930_zXn3ei5I4zod" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Inventories">9,973</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

632810

71001

9973

632810

71001

9973

5. Prepayments and other current assets Prepayments and other current assets consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zvhJmokFVGEa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Prepayments and other current assets (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of prepayments and other current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20250331_zHIa9jjXbgW4" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20250930_zC51NdAeVY05" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AdvancesToAffiliate_iI_zzOnGKYROtje" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Advances to vendors (a)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">304,572</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">619,964</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--AdvancesToAffiliate_iI_uUSD_c20250930_fKGEp_zi0FiBBGuF31" style="width: 11%; text-align: right" title="Advances to vendors (a)">87,086</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LoansToThirdparties_iI_zH2337SilJX4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans to third-parties (b)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">448,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,969,486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--LoansToThirdparties_iI_uUSD_c20250930_fKGIp_zZs3Y26BC98a" style="text-align: right" title="Loans to third-parties (b)">698,060</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Deposits_iI_z6uin9BPpyzd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Rental deposits (c)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,225,218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Deposits_iI_uUSD_c20250930_fKGMp_zQmZ3zvSfT94" style="text-align: right" title="Rental deposits (c)">172,105</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AdvanceToEmployees_iI_zcMJrKtbAdXe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advance to employees (d)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">539,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">317,846</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--AdvanceToEmployees_iI_uUSD_c20250930_fKGQp_z2zIG8T8v9fh" style="text-align: right" title="Advance to employees (d)">44,648</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherPrepaidExpenseCurrent_iI_zqvk5WI0XRsl" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Others (e)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">366,475</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">141,759</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherPrepaidExpenseCurrent_iI_uUSD_c20250930_fKGUp_zhioFs5Pesxj" style="border-bottom: Black 1pt solid; text-align: right" title="Others (e)">19,912</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_zPq48A2ykhUd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Prepayments and other current assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,454,136</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,274,273</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_uUSD_c20250930_zADw2hRXLTjc" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Prepayments and other current assets">1,021,811</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 3%">(a)</td> <td style="width: 97%; text-align: justify">Advances to vendors primarily included prepayment for service fee attributable to DAKA merchant membership service providers in 2024 and prepayment for office rental and office renovation in 2025, which will be expensed in cost of revenues when the associated revenue is recognized.</td></tr> <tr style="vertical-align: top"> <td>(b)</td> <td style="text-align: justify">Loans to third parties represents the balance lent to various third parties for their working capital needs which are interest-free. As of the date of this report, RMB 448,990 (US$ 63,069) of the outstanding loans to third parties has been settled.</td></tr> <tr style="vertical-align: top"> <td>(c)</td> <td style="text-align: justify">Rental deposit primarily comprises three months’ rent for the new office leased by the Group in October 2023, recognized as a security deposit in accordance with the terms of the lease agreement. For the six months ended September 30 2025, the deposit increased by RMB 430,889 (US$ 60,527), mainly due to the lease of additional office space.</td></tr> <tr style="vertical-align: top"> <td>(d)</td> <td style="text-align: justify">Advance to employees was provided to staff for travelling and business-related use and are expensed as incurred.</td></tr> <tr style="vertical-align: top"> <td>(e)</td> <td style="text-align: justify">Others primarily included the prepayment of rent related to leases expiring within 12 months.</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_894_eus-gaap--ScheduleOfOtherCurrentAssetsTableTextBlock_zvhJmokFVGEa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Prepayments and other current assets (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of prepayments and other current assets</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20250331_zHIa9jjXbgW4" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_493_20250930_zC51NdAeVY05" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--AdvancesToAffiliate_iI_zzOnGKYROtje" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Advances to vendors (a)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">304,572</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">619,964</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--AdvancesToAffiliate_iI_uUSD_c20250930_fKGEp_zi0FiBBGuF31" style="width: 11%; text-align: right" title="Advances to vendors (a)">87,086</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--LoansToThirdparties_iI_zH2337SilJX4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Loans to third-parties (b)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">448,990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,969,486</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--LoansToThirdparties_iI_uUSD_c20250930_fKGIp_zZs3Y26BC98a" style="text-align: right" title="Loans to third-parties (b)">698,060</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--Deposits_iI_z6uin9BPpyzd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Rental deposits (c)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">794,329</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,225,218</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--Deposits_iI_uUSD_c20250930_fKGMp_zQmZ3zvSfT94" style="text-align: right" title="Rental deposits (c)">172,105</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--AdvanceToEmployees_iI_zcMJrKtbAdXe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Advance to employees (d)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">539,770</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">317,846</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--AdvanceToEmployees_iI_uUSD_c20250930_fKGQp_z2zIG8T8v9fh" style="text-align: right" title="Advance to employees (d)">44,648</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--OtherPrepaidExpenseCurrent_iI_zqvk5WI0XRsl" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Others (e)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">366,475</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">141,759</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_eus-gaap--OtherPrepaidExpenseCurrent_iI_uUSD_c20250930_fKGUp_zhioFs5Pesxj" style="border-bottom: Black 1pt solid; text-align: right" title="Others (e)">19,912</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_zPq48A2ykhUd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Prepayments and other current assets</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,454,136</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">7,274,273</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iI_uUSD_c20250930_zADw2hRXLTjc" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Prepayments and other current assets">1,021,811</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 3%">(a)</td> <td style="width: 97%; text-align: justify">Advances to vendors primarily included prepayment for service fee attributable to DAKA merchant membership service providers in 2024 and prepayment for office rental and office renovation in 2025, which will be expensed in cost of revenues when the associated revenue is recognized.</td></tr> <tr style="vertical-align: top"> <td>(b)</td> <td style="text-align: justify">Loans to third parties represents the balance lent to various third parties for their working capital needs which are interest-free. As of the date of this report, RMB 448,990 (US$ 63,069) of the outstanding loans to third parties has been settled.</td></tr> <tr style="vertical-align: top"> <td>(c)</td> <td style="text-align: justify">Rental deposit primarily comprises three months’ rent for the new office leased by the Group in October 2023, recognized as a security deposit in accordance with the terms of the lease agreement. For the six months ended September 30 2025, the deposit increased by RMB 430,889 (US$ 60,527), mainly due to the lease of additional office space.</td></tr> <tr style="vertical-align: top"> <td>(d)</td> <td style="text-align: justify">Advance to employees was provided to staff for travelling and business-related use and are expensed as incurred.</td></tr> <tr style="vertical-align: top"> <td>(e)</td> <td style="text-align: justify">Others primarily included the prepayment of rent related to leases expiring within 12 months.</td></tr> </table>

304572

619964

87086

448990 4969486 698060

794329

1225218

172105

539770 317846 44648

366475

141759

19912

2454136

7274273

1021811

6. Property and equipment, net Property and equipment, net, consist of the following: <table cellpadding="0" cellspacing="0" id="xdx_883_eus-gaap--PropertyPlantAndEquipmentTextBlock_zmDgUXPeQgWg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and equipment, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Leasehold improvement</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_d0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zKadszK75Z9a" style="width: 11%; text-align: right" title="Property and equipment, gross">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zyl3iAzt3woi" style="width: 11%; text-align: right" title="Property and equipment, gross">585,708</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zUzLTO4dZhu9" style="width: 11%; text-align: right" title="Property and equipment, gross">82,274</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zVe2tz7EgBMd" style="text-align: right" title="Property and equipment, gross">531,097</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_ztsbTbspYJG3" style="text-align: right" title="Property and equipment, gross">636,264</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_z39MJbYMZeU9" style="text-align: right" title="Property and equipment, gross">89,375</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Office furniture</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zua9we54CiWk" style="text-align: right" title="Property and equipment, gross">126,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zZiReIUU4VDj" style="text-align: right" title="Property and equipment, gross">353,976</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zycddkDTG0Yl" style="text-align: right" title="Property and equipment, gross">49,723</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Vehicle</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zpSf0ZyvBGn7" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">354,635</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zQRePTXIdMQi" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">354,636</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zHZyyacH4kK7" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">49,816</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250331_zAdcaQZP77Ti" style="font-weight: bold; text-align: right" title="Property and equipment, gross">1,011,745</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250930_zoEfRnyFLkW" style="font-weight: bold; text-align: right" title="Property and equipment, gross">1,930,584</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930_znq0rHPcXBck" style="font-weight: bold; text-align: right" title="Property and equipment, gross">271,188</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20250331_zv7lOaaMCcDj" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(477,719</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20250930_zfeRjFtgsvB2" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(631,634</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20250930_zMO37GdKABi9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(88,726</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_pp0p0_c20250331_z8t4nfueXybe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">534,026</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentNet_pp0p0_c20250930_zUQmwE3Tpch" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">1,298,950</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_uUSD_c20250930_zlg5y7G6hM1c" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">182,462</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> For the six months ended September 30, 2025 and 2024, the Group recorded depreciation expenses of RMB153,914 (US$21,620) and RMB132,329, respectively. There is no impairment loss recognized for the six months ended September 30, 2025 and 2024.

<table cellpadding="0" cellspacing="0" id="xdx_883_eus-gaap--PropertyPlantAndEquipmentTextBlock_zmDgUXPeQgWg" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Property and equipment, net (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of property and equipment, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Leasehold improvement</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_d0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zKadszK75Z9a" style="width: 11%; text-align: right" title="Property and equipment, gross">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zyl3iAzt3woi" style="width: 11%; text-align: right" title="Property and equipment, gross">585,708</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zUzLTO4dZhu9" style="width: 11%; text-align: right" title="Property and equipment, gross">82,274</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Electronic equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_zVe2tz7EgBMd" style="text-align: right" title="Property and equipment, gross">531,097</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_ztsbTbspYJG3" style="text-align: right" title="Property and equipment, gross">636,264</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember_z39MJbYMZeU9" style="text-align: right" title="Property and equipment, gross">89,375</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Office furniture</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zua9we54CiWk" style="text-align: right" title="Property and equipment, gross">126,013</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zZiReIUU4VDj" style="text-align: right" title="Property and equipment, gross">353,976</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zycddkDTG0Yl" style="text-align: right" title="Property and equipment, gross">49,723</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Vehicle</td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zpSf0ZyvBGn7" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">354,635</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zQRePTXIdMQi" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">354,636</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="padding-bottom: 1pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--VehiclesMember_zHZyyacH4kK7" style="border-bottom: Black 1pt solid; text-align: right" title="Property and equipment, gross">49,816</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250331_zAdcaQZP77Ti" style="font-weight: bold; text-align: right" title="Property and equipment, gross">1,011,745</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_pp0p0_c20250930_zoEfRnyFLkW" style="font-weight: bold; text-align: right" title="Property and equipment, gross">1,930,584</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_981_eus-gaap--PropertyPlantAndEquipmentGross_iI_pp0p0_uUSD_c20250930_znq0rHPcXBck" style="font-weight: bold; text-align: right" title="Property and equipment, gross">271,188</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: accumulated depreciation</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20250331_zv7lOaaMCcDj" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(477,719</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_c20250930_zfeRjFtgsvB2" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(631,634</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_pp0p0_di_uUSD_c20250930_zMO37GdKABi9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: accumulated depreciation">(88,726</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Property and equipment, net</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--PropertyPlantAndEquipmentNet_pp0p0_c20250331_z8t4nfueXybe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">534,026</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentNet_pp0p0_c20250930_zUQmwE3Tpch" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">1,298,950</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--PropertyPlantAndEquipmentNet_iI_pp0p0_uUSD_c20250930_zlg5y7G6hM1c" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Property and equipment, net">182,462</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

585708

82274

531097

636264

89375

126013

353976

49723

354635

354636

49816

1011745

1930584

271188

477719

631634

88726

534026

1298950

182462

153914

21620

132329

7. Advances from customers <table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfAdvancesFromCustomersTableTextBlock_zouqFKqALAil" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Advances from customers (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of advances from customers</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left; padding-bottom: 1pt">Advances from customers related to DAKA regional agent fee(a)</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerLiability_iI_c20250331__srt--ProductOrServiceAxis__custom--DAKAMember_fKGEp_zAlCZ3NCIN47" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Advances from customers">10,502,722</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerLiability_iI_c20250930__srt--ProductOrServiceAxis__custom--DAKAMember_fKGEp_zoYSm5wUP6Ra" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Advances from customers">8,651,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250930__srt--ProductOrServiceAxis__custom--DAKAMember_fKGEp_zC8B7oKAf7H8" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Advances from customers">1,215,199</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerLiability_iI_c20250331_z0jjuxXMlOGk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">10,502,722</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--ContractWithCustomerLiability_iI_c20250930_z6zx4gk5LzWh" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">8,651,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250930_z8JAhtqjb5F5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">1,215,199</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 2%">(a)</td> <td style="width: 98%; text-align: justify">Advances from customers presents the cash received from DAKA regional agency customers for DAKA merchant membership business. Typically, with regional agency contracts spanning three-years which is terminable at will, these advances from DAKA regional agency customers are recognized as revenue over the contract period on a deferred basis. </td></tr> </table> The following table sets forth the movement of advances from customers for the periods presented: <table cellpadding="0" cellspacing="0" id="xdx_89F_ecustom--ScheduleOfAdvancesRollforwardTableTextBlock_zfNpFEe2gu7h" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Advances from customers (Details - Advances rollforward)"> <tr style="vertical-align: bottom"> <td>Schedule of Rollforward of advances</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">As of March 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Cash collection</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Revenue recognized</td> <td> </td> <td> </td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center">As of September 30, 2025</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">US$</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center">(Audited)</td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="6" style="text-align: center">(Unaudited)</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Advances from customers related to DAKA regional agent fee</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_985_eus-gaap--DeferredRevenue_iI_c20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_z1D7L1FuhXvf" style="border-bottom: black 1pt solid; text-align: right" title="Advances from customers">10,502,722</td> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_986_ecustom--IncreaseInCustomerAdvances_d0_c20250401__20250930__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zPj1LrWWBqej" style="border-bottom: black 1pt solid; text-align: right" title="Increase in customer advances">–</td> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_983_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20250401__20250930__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_znEkUdXj8eLl" style="border-bottom: black 1pt solid; text-align: right" title="Revenue recognized">(1,851,722</td> <td>)</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_980_ecustom--AdvancesFromCustomers_iI_c20250930__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zvTV83JLLaN9" style="border-bottom: black 1pt solid; text-align: right" title="Advances from customers">8,651,000</td> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_98C_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250930__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zEohaCWxDrWa" style="border-bottom: black 1pt solid; text-align: right" title="Advances from customers">1,215,199</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Total</td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_985_eus-gaap--DeferredRevenue_iI_c20250331_zhQPnp0Jdbi5" style="border-bottom: black 2.25pt double; text-align: right" title="Total advances from customers">10,502,722</td> <td> </td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_98E_ecustom--IncreaseInCustomerAdvances_d0_c20250401__20250930_zg8H5I6q2On3" style="border-bottom: black 2.25pt double; text-align: right" title="Increase in customer advances">–</td> <td> </td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_98E_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20250401__20250930_zmygn6HRwum" style="border-bottom: black 2.25pt double; text-align: right" title="Revenue recognized">(1,851,722</td> <td>)</td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_988_ecustom--AdvancesFromCustomers_iI_c20250930_z7VezWcR4Vfl" style="border-bottom: black 2.25pt double; text-align: right" title="Total advances from customers">8,651,000</td> <td> </td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_982_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250930_zVA2gYzlJ5X6" style="border-bottom: black 2.25pt double; text-align: right" title="Total advances from customers">1,215,199</td> <td> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfAdvancesFromCustomersTableTextBlock_zouqFKqALAil" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Advances from customers (Details)"> <tr style="vertical-align: bottom"> <td>Schedule of advances from customers</td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left; padding-bottom: 1pt">Advances from customers related to DAKA regional agent fee(a)</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ContractWithCustomerLiability_iI_c20250331__srt--ProductOrServiceAxis__custom--DAKAMember_fKGEp_zAlCZ3NCIN47" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Advances from customers">10,502,722</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_eus-gaap--ContractWithCustomerLiability_iI_c20250930__srt--ProductOrServiceAxis__custom--DAKAMember_fKGEp_zoYSm5wUP6Ra" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Advances from customers">8,651,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250930__srt--ProductOrServiceAxis__custom--DAKAMember_fKGEp_zC8B7oKAf7H8" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Advances from customers">1,215,199</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerLiability_iI_c20250331_z0jjuxXMlOGk" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">10,502,722</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--ContractWithCustomerLiability_iI_c20250930_z6zx4gk5LzWh" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">8,651,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250930_z8JAhtqjb5F5" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total advances from customers">1,215,199</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 2%">(a)</td> <td style="width: 98%; text-align: justify">Advances from customers presents the cash received from DAKA regional agency customers for DAKA merchant membership business. Typically, with regional agency contracts spanning three-years which is terminable at will, these advances from DAKA regional agency customers are recognized as revenue over the contract period on a deferred basis. </td></tr> </table>

10502722

8651000

1215199

10502722

8651000

1215199

<table cellpadding="0" cellspacing="0" id="xdx_89F_ecustom--ScheduleOfAdvancesRollforwardTableTextBlock_zfNpFEe2gu7h" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Advances from customers (Details - Advances rollforward)"> <tr style="vertical-align: bottom"> <td>Schedule of Rollforward of advances</td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td> <td> </td> <td> </td> <td style="text-align: right"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">As of March 31, 2025</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Cash collection</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">Revenue recognized</td> <td> </td> <td> </td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center">As of September 30, 2025</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">US$</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center">(Audited)</td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: center"> </td> <td> </td> <td> </td> <td colspan="6" style="text-align: center">(Unaudited)</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Advances from customers related to DAKA regional agent fee</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_985_eus-gaap--DeferredRevenue_iI_c20250331__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_z1D7L1FuhXvf" style="border-bottom: black 1pt solid; text-align: right" title="Advances from customers">10,502,722</td> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_986_ecustom--IncreaseInCustomerAdvances_d0_c20250401__20250930__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zPj1LrWWBqej" style="border-bottom: black 1pt solid; text-align: right" title="Increase in customer advances">–</td> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_983_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20250401__20250930__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_znEkUdXj8eLl" style="border-bottom: black 1pt solid; text-align: right" title="Revenue recognized">(1,851,722</td> <td>)</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_980_ecustom--AdvancesFromCustomers_iI_c20250930__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zvTV83JLLaN9" style="border-bottom: black 1pt solid; text-align: right" title="Advances from customers">8,651,000</td> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td id="xdx_98C_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250930__us-gaap--TransactionTypeAxis__custom--DAKARegionalAgentFeeMember_zEohaCWxDrWa" style="border-bottom: black 1pt solid; text-align: right" title="Advances from customers">1,215,199</td> <td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Total</td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_985_eus-gaap--DeferredRevenue_iI_c20250331_zhQPnp0Jdbi5" style="border-bottom: black 2.25pt double; text-align: right" title="Total advances from customers">10,502,722</td> <td> </td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_98E_ecustom--IncreaseInCustomerAdvances_d0_c20250401__20250930_zg8H5I6q2On3" style="border-bottom: black 2.25pt double; text-align: right" title="Increase in customer advances">–</td> <td> </td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_98E_ecustom--ContractWithCustomerLiabilityRevenueRecognized1_iN_di_c20250401__20250930_zmygn6HRwum" style="border-bottom: black 2.25pt double; text-align: right" title="Revenue recognized">(1,851,722</td> <td>)</td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_988_ecustom--AdvancesFromCustomers_iI_c20250930_z7VezWcR4Vfl" style="border-bottom: black 2.25pt double; text-align: right" title="Total advances from customers">8,651,000</td> <td> </td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td id="xdx_982_eus-gaap--ContractWithCustomerLiability_iI_uUSD_c20250930_zVA2gYzlJ5X6" style="border-bottom: black 2.25pt double; text-align: right" title="Total advances from customers">1,215,199</td> <td> </td></tr> </table>

10502722

0 1851722 8651000

1215199

10502722

0 -1851722 8651000

1215199

8. Goodwill The changes in the carrying amount of goodwill was as follows: <table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfGoodwillTextBlock_z0PfUL6NsNyh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Goodwill (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of changes carrying amount of goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250331_zjNMNHgHQzVi" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250930_zIMVhKUzHGul" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--GoodwillGross_iI_d0_zSXTyj36FGI2" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Goodwill from Dazhika</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">708,942</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">708,942</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--GoodwillGross_iI_uUSD_c20250930_zlCDDXB9X3Tk" style="width: 11%; text-align: right" title="Goodwill from Dazhika">99,584</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GoodwillImpairedAccumulatedImpairmentLoss_iI_d0_zy8m1tnMASJj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--GoodwillImpairedAccumulatedImpairmentLoss_iI_d0_uUSD_c20250930_zvJilItw8m93" style="border-bottom: Black 1pt solid; text-align: right" title="Less: impairment">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Goodwill_iI_d0_zEOFdmBcQUD5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Goodwill</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">708,942</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">708,942</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--Goodwill_iI_uUSD_c20250930_zZLUApHgxZ29" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Goodwill">99,584</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> On November 1, 2024, the Company acquired 100% interests of Hangzhou Dazhika Technology Co., Ltd. (“Dazhika”) from third parties. Dazhika was engaged in providing information technology solutions services to connect consumers and merchants through its e-commercial platform in China. The total consideration was RMB910,000 (US$<span id="xdx_90C_eus-gaap--BusinessCombinationConsiderationTransferred1_uUSD_c20241031__20241101__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaMember_zFBNkgH4BSQ">127,827). The fair value of identifiable net assets acquired was RMB<span id="xdx_90D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_c20241101__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaMember_zYXYYffbLrZ9">201,058 (US$<span id="xdx_90D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_uUSD_c20241101__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HangzhouDazhikaMember_z1l1onyvxGVd">28,242), resulting in the recognition of RMB708,942 (US$99,584) of goodwill. There was no goodwill impairment loss recognized for the six months ended September 30, 2025 and 2024.

<table cellpadding="0" cellspacing="0" id="xdx_888_eus-gaap--ScheduleOfGoodwillTextBlock_z0PfUL6NsNyh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Goodwill (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of changes carrying amount of goodwill</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250331_zjNMNHgHQzVi" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20250930_zIMVhKUzHGul" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_404_eus-gaap--GoodwillGross_iI_d0_zSXTyj36FGI2" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Goodwill from Dazhika</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">708,942</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">708,942</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--GoodwillGross_iI_uUSD_c20250930_zlCDDXB9X3Tk" style="width: 11%; text-align: right" title="Goodwill from Dazhika">99,584</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--GoodwillImpairedAccumulatedImpairmentLoss_iI_d0_zy8m1tnMASJj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Less: impairment</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--GoodwillImpairedAccumulatedImpairmentLoss_iI_d0_uUSD_c20250930_zvJilItw8m93" style="border-bottom: Black 1pt solid; text-align: right" title="Less: impairment">–</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--Goodwill_iI_d0_zEOFdmBcQUD5" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; padding-bottom: 2.5pt">Goodwill</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">708,942</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">708,942</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98B_eus-gaap--Goodwill_iI_uUSD_c20250930_zZLUApHgxZ29" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Goodwill">99,584</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

708942

99584

708942

99584

910000

127827

201058

28242

708942

99584

9. Operating leases The Group has several offices lease agreements with lease terms ranging from two to five years. The Group does not have any finance lease for the six months ended September 30, 2025 and the years ended March 31, 2025. Operating leases result in the recognition of ROU assets and lease liabilities on the balance sheet. ROU assets represent the Group’s right to use the leased asset for the lease term, and lease liabilities represent the obligation to make lease payments. The operating lease expenses were charged to selling expenses and general and administrative expenses. The Group used its incremental borrowing rate based on the information available at the commencement date in determining the present value of lease payments and the discount rate was not changed on recalculating modified ROU assets and lease liabilities. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. <table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--OperatingLeaseLeaseIncomeTableTextBlock_zwuJs79G4Ti4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of ROU assets and lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Operating lease right-of-use assets</td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20250331_zranWOwj2vH2" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">6,637,141</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20250930_zRYe9JCr6ze4" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">7,643,582</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseRightOfUseAsset_iI_uUSD_c20250930_zI3ChD1NFbgi" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">1,073,688</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Operating lease liabilities, current</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20250331_z5trDULlL6K9" style="text-align: right" title="Operating lease liabilities, current">1,814,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20250930_zzHM8NkXqauf" style="text-align: right" title="Operating lease liabilities, current">1,770,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityCurrent_iI_uUSD_c20250930_zzX06apogesg" style="text-align: right" title="Operating lease liabilities, current">248,688</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liabilities, non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20250331_zthuYn7jjTtb" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">5,346,727</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20250930_zJaMHv3ITsh6" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">6,558,669</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_uUSD_c20250930_zxOQquOA6znk" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">921,291</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseLiability_iI_c20250331_zcR4R3x6w2k3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">7,160,798</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseLiability_iI_c20250930_zHy4IIAgTMJe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">8,329,082</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseLiability_iI_uUSD_c20250930_zwJUQ8PJ6UAa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">1,169,979</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The weighted-average remaining lease term and the weighted-average discount rate of leases are as follows: <table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfWeightedAverageLeaseTermAndDiscountRateOfLeasesTableTextBlock_zJ1SEenn835f" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details 1)"> <tr style="vertical-align: bottom"> <td>Schedule of weighted-average remaining lease term and discount rate of leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 72%">Weighted average remaining lease terms</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">4.73</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">3.01</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.70%</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.70%</td><td style="text-align: left"> </td></tr> </table> During the six months ended September 30, 2025 and 2024, the Group incurred total operating lease expenses of RMB1,392,307 (US$195,576) and RMB723,929, respectively. The following table summarizes the maturity of operating lease liabilities as of September 30, 2025: <table cellpadding="0" cellspacing="0" id="xdx_898_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_znfTPzYVvgX2" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Operating leases (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of operating lease liabilities</td> <td> </td> <td> </td> <td id="xdx_49B_20250930_z6k1nUmNRmB1" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid">12 months ending March 31,</td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center">(Unaudited)</td> <td> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_zJMMjOYJGI2h" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 84%">Second half year of 2026</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 13%; text-align: right">1,060,574</td> <td style="width: 1%"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo_iI_z0vmAQZteOw5" style="vertical-align: bottom; background-color: White"> <td>2027</td> <td> </td> <td> </td> <td style="text-align: right">2,570,265</td> <td> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree_iI_zbzP9FdbWcta" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>2028</td> <td> </td> <td> </td> <td style="text-align: right">3,600,663</td> <td> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour_iI_zWceQPAlSSOi" style="vertical-align: bottom; background-color: White"> <td>2029</td> <td> </td> <td> </td> <td style="text-align: right">1,800,206</td> <td> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive_iI_zpKA29NUmT1g" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>2030 and after</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right">252,442</td> <td> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_zdpWamx0AuI" style="vertical-align: bottom; background-color: White"> <td>Total lease payment</td> <td> </td> <td> </td> <td style="text-align: right">9,284,150</td> <td> </td></tr> <tr id="xdx_405_eus-gaap--ReceivableWithImputedInterestNetAmount_iNI_di_znglc9JcCYGh" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>less: imputed interest</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right">(955,068</td> <td>)</td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_iI_zMcWzN5WtRsh" style="vertical-align: bottom; background-color: White"> <td>Total lease liabilities</td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td style="border-bottom: black 2.25pt double; text-align: right">8,329,082</td> <td> </td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_896_eus-gaap--OperatingLeaseLeaseIncomeTableTextBlock_zwuJs79G4Ti4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of ROU assets and lease liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; font-weight: bold; text-align: left; padding-bottom: 2.5pt">Operating lease right-of-use assets</td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20250331_zranWOwj2vH2" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">6,637,141</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingLeaseRightOfUseAsset_iI_c20250930_zRYe9JCr6ze4" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">7,643,582</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="width: 1%; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseRightOfUseAsset_iI_uUSD_c20250930_zI3ChD1NFbgi" style="border-bottom: Black 2.5pt double; width: 11%; font-weight: bold; text-align: right" title="Operating lease right-of-use assets">1,073,688</td><td style="width: 1%; padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Operating lease liabilities, current</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20250331_z5trDULlL6K9" style="text-align: right" title="Operating lease liabilities, current">1,814,071</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--OperatingLeaseLiabilityCurrent_iI_c20250930_zzHM8NkXqauf" style="text-align: right" title="Operating lease liabilities, current">1,770,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityCurrent_iI_uUSD_c20250930_zzX06apogesg" style="text-align: right" title="Operating lease liabilities, current">248,688</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Operating lease liabilities, non-current</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20250331_zthuYn7jjTtb" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">5,346,727</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_c20250930_zJaMHv3ITsh6" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">6,558,669</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_uUSD_c20250930_zxOQquOA6znk" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease liabilities, non-current">921,291</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total operating lease liabilities</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--OperatingLeaseLiability_iI_c20250331_zcR4R3x6w2k3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">7,160,798</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseLiability_iI_c20250930_zHy4IIAgTMJe" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">8,329,082</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--OperatingLeaseLiability_iI_uUSD_c20250930_zwJUQ8PJ6UAa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total operating lease liabilities">1,169,979</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

6637141

7643582

1073688

1814071

1770413

248688

5346727

6558669

921291

7160798

8329082

1169979

<table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfWeightedAverageLeaseTermAndDiscountRateOfLeasesTableTextBlock_zJ1SEenn835f" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Operating leases (Details 1)"> <tr style="vertical-align: bottom"> <td>Schedule of weighted-average remaining lease term and discount rate of leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">As of</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 72%">Weighted average remaining lease terms</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">4.73</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">3.01</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td>Weighted average discount rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.70%</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6.70%</td><td style="text-align: left"> </td></tr> </table>

P4Y8M23D

P3Y3D

0.0670

1392307

195576

723929

<table cellpadding="0" cellspacing="0" id="xdx_898_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_znfTPzYVvgX2" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Operating leases (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of operating lease liabilities</td> <td> </td> <td> </td> <td id="xdx_49B_20250930_z6k1nUmNRmB1" style="text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid">12 months ending March 31,</td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center">RMB</td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="text-align: center">(Unaudited)</td> <td> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths_iI_zJMMjOYJGI2h" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 84%">Second half year of 2026</td> <td style="width: 1%"> </td> <td style="width: 1%"> </td> <td style="width: 13%; text-align: right">1,060,574</td> <td style="width: 1%"> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo_iI_z0vmAQZteOw5" style="vertical-align: bottom; background-color: White"> <td>2027</td> <td> </td> <td> </td> <td style="text-align: right">2,570,265</td> <td> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree_iI_zbzP9FdbWcta" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>2028</td> <td> </td> <td> </td> <td style="text-align: right">3,600,663</td> <td> </td></tr> <tr id="xdx_40A_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour_iI_zWceQPAlSSOi" style="vertical-align: bottom; background-color: White"> <td>2029</td> <td> </td> <td> </td> <td style="text-align: right">1,800,206</td> <td> </td></tr> <tr id="xdx_408_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFive_iI_zpKA29NUmT1g" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>2030 and after</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right">252,442</td> <td> </td></tr> <tr id="xdx_404_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iI_zdpWamx0AuI" style="vertical-align: bottom; background-color: White"> <td>Total lease payment</td> <td> </td> <td> </td> <td style="text-align: right">9,284,150</td> <td> </td></tr> <tr id="xdx_405_eus-gaap--ReceivableWithImputedInterestNetAmount_iNI_di_znglc9JcCYGh" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>less: imputed interest</td> <td> </td> <td style="border-bottom: black 1pt solid"> </td> <td style="border-bottom: black 1pt solid; text-align: right">(955,068</td> <td>)</td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiability_iI_zMcWzN5WtRsh" style="vertical-align: bottom; background-color: White"> <td>Total lease liabilities</td> <td> </td> <td style="border-bottom: black 2.25pt double"> </td> <td style="border-bottom: black 2.25pt double; text-align: right">8,329,082</td> <td> </td></tr> </table>

1060574

2570265

3600663

1800206

252442

9284150

955068

8329082

10. Accrued expenses and other current liabilities The Group’s accrued expenses and other current liabilities consisted of the following: <table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zBCEs6Zg20qk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accrued expenses and other current liabilities (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250331_zjVCem9fF6nc" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20250930_z9SqjI6AD8g5" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_ecustom--AccruedCreditPointsForOnlineStoreConsumption_iI_zc3QxZCxVHj8" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Accrued credit points for online store consumption (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">881,573</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">4,457,215</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--AccruedCreditPointsForOnlineStoreConsumption_iI_uUSD_c20250930_fKGkp_zokdjgnehbL2" style="width: 11%; text-align: right" title="Accrued credit points for online store consumption">626,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_z1mxWEk4dTM6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll and employee benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423,634</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">729,524</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_uUSD_c20250930_zmEK5bQayox7" style="text-align: right" title="Accrued payroll and employee benefits">102,476</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ServiceChargePayableRelatedToMarketPromotion_iI_zQZavAiDcC2h" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Service charge payable related to market promotion of DAKA merchant membership services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,403,548</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538,197</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--ServiceChargePayableRelatedToMarketPromotion_iI_uUSD_c20250930_zXSUrpEYIsoh" style="text-align: right" title="Service charge payable related to market promotion">75,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AmountDueToThirdparties_iI_zAD660S2Epmj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to third-parties (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,226,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,403,503</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--LoanToThirdparties_iI_uUSD_c20250930_zjzMTWv21AD1" style="text-align: right" title="Loans to third-parties">337,618</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_zg41y1vK9Gui" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Others (iii)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">563,954</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">336,297</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_uUSD_c20250930_zVieJh3vTRxf" style="border-bottom: Black 1pt solid; text-align: right" title="Others">47,239</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iI_zQ6GADzf4dfg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,499,642</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,464,736</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iI_uUSD_c20250930_zraCsGtzawye" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total">1,189,034</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 3%">(i)</td> <td style="width: 97%; text-align: justify">This amount represents the Company's estimated obligation related to unused customer reward points earned, which primarily consist of "Energy Beans" and "Daka Points", through qualifying purchases of Moju sports watches and Daka Life sports watches. Energy Beans are accumulated by Moju sports watch users through physical activities (such as step counts) in-application advertisement engagement, and successful referrals, and can be redeemed for products in the Company's online Moju Mall. Daka Points are accumulated by Daka life sports watch users through physical activities, completion of daily mini-program tasks (such as offline store check-ins), consumption rebates, manual system issuances, direct cash purchases, or conversion from Energy Beans, and can be redeemed for merchandise at participating local lifestyle stores. The liability is measured based on the expected value of future redemptions, estimated using historical redemption rates and current point balance. </td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td>(ii)</td> <td style="text-align: justify">In fiscal year 2025, Fit-One entered into one-year unsecured loan agreements with its business partners of total RMB4,944,503 (US$681,371) with interest-free for its business development purpose. As of September 30, 2025, RMB3,343,315 (US$469,633) has been settled, the outstanding balance as of September 30, 2025 is RMB1,601,188(US$224,918).</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify">In fiscal year 2025, Dazhika entered into one-year unsecured loan agreements with its business partners of total RMB1,282,430 (US$176,724) with interest-free for its business development purpose. As of September 30, 2025, RMB1,080,115 (US$151,723) has been settled. The outstanding balance as of September 30, 2025 is RMB202,315 (US$28,419).</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify">For the six months ended September 30, 2025, Dazhika (Xiushui) entered into one-year unsecured loan agreements with its business partners of totalling RMB600,000 (US$84,281) which are interest-free for its business development purpose.</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td>(iii)</td> <td style="text-align: justify">Others mainly represent payable to customers due to order cancellations before goods or services were delivered.</td></tr> </table>

<table cellpadding="0" cellspacing="0" id="xdx_892_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zBCEs6Zg20qk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Accrued expenses and other current liabilities (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of accrued expenses and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250331_zjVCem9fF6nc" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20250930_z9SqjI6AD8g5" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_ecustom--AccruedCreditPointsForOnlineStoreConsumption_iI_zc3QxZCxVHj8" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Accrued credit points for online store consumption (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">881,573</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">4,457,215</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98B_ecustom--AccruedCreditPointsForOnlineStoreConsumption_iI_uUSD_c20250930_fKGkp_zokdjgnehbL2" style="width: 11%; text-align: right" title="Accrued credit points for online store consumption">626,101</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_z1mxWEk4dTM6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued payroll and employee benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">423,634</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">729,524</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_uUSD_c20250930_zmEK5bQayox7" style="text-align: right" title="Accrued payroll and employee benefits">102,476</td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--ServiceChargePayableRelatedToMarketPromotion_iI_zQZavAiDcC2h" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Service charge payable related to market promotion of DAKA merchant membership services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,403,548</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538,197</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_ecustom--ServiceChargePayableRelatedToMarketPromotion_iI_uUSD_c20250930_zXSUrpEYIsoh" style="text-align: right" title="Service charge payable related to market promotion">75,600</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AmountDueToThirdparties_iI_zAD660S2Epmj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Amount due to third-parties (ii)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,226,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,403,503</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--LoanToThirdparties_iI_uUSD_c20250930_zjzMTWv21AD1" style="text-align: right" title="Loans to third-parties">337,618</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_zg41y1vK9Gui" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 1pt">Others (iii)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">563,954</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">336,297</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98D_eus-gaap--OtherAccountsPayableAndAccruedLiabilities_iI_uUSD_c20250930_zVieJh3vTRxf" style="border-bottom: Black 1pt solid; text-align: right" title="Others">47,239</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iI_zQ6GADzf4dfg" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Total</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">9,499,642</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">8,464,736</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_984_eus-gaap--AccountsPayableAndOtherAccruedLiabilitiesCurrent_iI_uUSD_c20250930_zraCsGtzawye" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total">1,189,034</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 3%">(i)</td> <td style="width: 97%; text-align: justify">This amount represents the Company's estimated obligation related to unused customer reward points earned, which primarily consist of "Energy Beans" and "Daka Points", through qualifying purchases of Moju sports watches and Daka Life sports watches. Energy Beans are accumulated by Moju sports watch users through physical activities (such as step counts) in-application advertisement engagement, and successful referrals, and can be redeemed for products in the Company's online Moju Mall. Daka Points are accumulated by Daka life sports watch users through physical activities, completion of daily mini-program tasks (such as offline store check-ins), consumption rebates, manual system issuances, direct cash purchases, or conversion from Energy Beans, and can be redeemed for merchandise at participating local lifestyle stores. The liability is measured based on the expected value of future redemptions, estimated using historical redemption rates and current point balance. </td></tr> <tr style="vertical-align: top"> <td> </td> <td> </td></tr> <tr style="vertical-align: top"> <td>(ii)</td> <td style="text-align: justify">In fiscal year 2025, Fit-One entered into one-year unsecured loan agreements with its business partners of total RMB4,944,503 (US$681,371) with interest-free for its business development purpose. As of September 30, 2025, RMB3,343,315 (US$469,633) has been settled, the outstanding balance as of September 30, 2025 is RMB1,601,188(US$224,918).</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify">In fiscal year 2025, Dazhika entered into one-year unsecured loan agreements with its business partners of total RMB1,282,430 (US$176,724) with interest-free for its business development purpose. As of September 30, 2025, RMB1,080,115 (US$151,723) has been settled. The outstanding balance as of September 30, 2025 is RMB202,315 (US$28,419).</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify">For the six months ended September 30, 2025, Dazhika (Xiushui) entered into one-year unsecured loan agreements with its business partners of totalling RMB600,000 (US$84,281) which are interest-free for its business development purpose.</td></tr> <tr style="vertical-align: top"> <td> </td> <td style="text-align: justify"> </td></tr> <tr style="vertical-align: top"> <td>(iii)</td> <td style="text-align: justify">Others mainly represent payable to customers due to order cancellations before goods or services were delivered.</td></tr> </table>

881573 4457215 626101

423634

729524

102476

1403548 538197 75600 6226933 2403503 337618

563954

336297

47239

9499642

8464736

1189034

11. Related party transactions The Group had the following balances with related parties which consisted of the following: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 56%; text-align: center">Names of the related parties</td> <td style="width: 1%"> </td> <td style="width: 43%; text-align: center">Relationship with the Group</td></tr> <tr style="vertical-align: top; background-color: rgb(238,238,238)"> <td>Lirong Liu</td> <td> </td> <td>Chairman of the Board</td></tr> <tr style="vertical-align: top; background-color: White"> <td>Conggang Chen</td> <td> </td> <td>The Vice Chairman of the Board</td></tr> <tr style="vertical-align: top; background-color: rgb(238,238,238)"> <td>Minghui Liu</td> <td> </td> <td>The General Manager</td></tr> </table> (a) Amounts due from related parties <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zCW0MKLFg6Tk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Related party transactions (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of amounts due from related parties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left; padding-bottom: 1pt">Lirong Liu</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_986_ecustom--AmountsDueFromRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--LirongLiuMember_z1VTjWdYqCq7" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Amounts due from related parties">1,339,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--AmountsDueFromRelatedParties_iI_c20250930__srt--CounterpartyNameAxis__custom--LirongLiuMember_zvBGUgF3bdZc" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Amounts due from related parties">449,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_986_ecustom--AmountsDueFromRelatedParties_iI_uUSD_c20250930__srt--CounterpartyNameAxis__custom--LirongLiuMember_zwpyl24oGp41" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Amounts due from related parties">63,071</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_ecustom--AmountsDueFromRelatedParties_iI_c20250331_z1KRYvugpXQ4" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">1,339,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_ecustom--AmountsDueFromRelatedParties_iI_c20250930_zyZpgaaii3Qa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">449,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_ecustom--AmountsDueFromRelatedParties_iI_uUSD_c20250930_zevMbqxg0SId" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">63,071</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> (b) Amounts due to related parties <table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfDueToRelatedPartyTransactionsTableTextBlock_zgi669zcwcN4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Related party transactions (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of amount due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Minghui Liu (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--AmountsDueToRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_ztsA0QRq63ab" style="width: 11%; text-align: right" title="Amounts due to related parties">19,418,353</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--AmountsDueToRelatedParties_iI_c20250930__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_z84wWbP629Tj" style="width: 11%; text-align: right" title="Amounts due to related parties">7,904,327</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_uUSD_c20250930__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_z5JuVcbumgG9" style="width: 11%; text-align: right" title="Amounts due to related parties">1,110,314</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Conggang Chen</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--AmountsDueToRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--ConggangChenMember_z8hiijvdQf0b" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">691,369</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--AmountsDueToRelatedParties_iI_d0_c20250930__srt--CounterpartyNameAxis__custom--ConggangChenMember_z2dPZVRmOAH5" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">634,095</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_d0_uUSD_c20250930__srt--CounterpartyNameAxis__custom--ConggangChenMember_zQVQNXt69mp6" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">89,071</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_ecustom--AmountsDueToRelatedParties_iI_c20250331_zgczY2lPmEZ1" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">20,109,722</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_ecustom--AmountsDueToRelatedParties_iI_d0_c20250930_zSvL7zfjqn52" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">8,538,422</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_ecustom--AmountsDueToRelatedParties_iI_d0_uUSD_c20250930_zue7MLret8Je" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">1,199,385</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 2%; text-align: justify">(i) </td> <td style="width: 98%; text-align: justify">Minghui Liu provided the interest-free loans to the Group, which are repayable on demand based on Minghui Liu’s funding needs, to support the Group’s business operation.</td></tr> </table> (c) Loans guaranteed by principal shareholders of the Group There was no loan guaranteed by shareholders of the Group as of September 30, 2025 and March 31, 2025.

<table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zCW0MKLFg6Tk" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Related party transactions (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td>Schedule of amounts due from related parties</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left; padding-bottom: 1pt">Lirong Liu</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_986_ecustom--AmountsDueFromRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--LirongLiuMember_z1VTjWdYqCq7" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Amounts due from related parties">1,339,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_980_ecustom--AmountsDueFromRelatedParties_iI_c20250930__srt--CounterpartyNameAxis__custom--LirongLiuMember_zvBGUgF3bdZc" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Amounts due from related parties">449,000</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td id="xdx_986_ecustom--AmountsDueFromRelatedParties_iI_uUSD_c20250930__srt--CounterpartyNameAxis__custom--LirongLiuMember_zwpyl24oGp41" style="border-bottom: Black 1pt solid; width: 11%; text-align: right" title="Amounts due from related parties">63,071</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_ecustom--AmountsDueFromRelatedParties_iI_c20250331_z1KRYvugpXQ4" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">1,339,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_983_ecustom--AmountsDueFromRelatedParties_iI_c20250930_zyZpgaaii3Qa" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">449,000</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98A_ecustom--AmountsDueFromRelatedParties_iI_uUSD_c20250930_zevMbqxg0SId" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due from related parties">63,071</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1339000 449000 63071 1339000 449000 63071 <table cellpadding="0" cellspacing="0" id="xdx_897_ecustom--ScheduleOfDueToRelatedPartyTransactionsTableTextBlock_zgi669zcwcN4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Related party transactions (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of amount due to related parties</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Minghui Liu (i)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--AmountsDueToRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_ztsA0QRq63ab" style="width: 11%; text-align: right" title="Amounts due to related parties">19,418,353</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_ecustom--AmountsDueToRelatedParties_iI_c20250930__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_z84wWbP629Tj" style="width: 11%; text-align: right" title="Amounts due to related parties">7,904,327</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_uUSD_c20250930__srt--CounterpartyNameAxis__custom--MinghuiLiuMember_fKGkp_z5JuVcbumgG9" style="width: 11%; text-align: right" title="Amounts due to related parties">1,110,314</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Conggang Chen</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--AmountsDueToRelatedParties_iI_c20250331__srt--CounterpartyNameAxis__custom--ConggangChenMember_z8hiijvdQf0b" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">691,369</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--AmountsDueToRelatedParties_iI_d0_c20250930__srt--CounterpartyNameAxis__custom--ConggangChenMember_z2dPZVRmOAH5" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">634,095</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--AmountsDueToRelatedParties_iI_d0_uUSD_c20250930__srt--CounterpartyNameAxis__custom--ConggangChenMember_zQVQNXt69mp6" style="border-bottom: Black 1pt solid; text-align: right" title="Amounts due to related parties">89,071</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_982_ecustom--AmountsDueToRelatedParties_iI_c20250331_zgczY2lPmEZ1" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">20,109,722</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98F_ecustom--AmountsDueToRelatedParties_iI_d0_c20250930_zSvL7zfjqn52" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">8,538,422</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_ecustom--AmountsDueToRelatedParties_iI_d0_uUSD_c20250930_zue7MLret8Je" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Amounts due to related parties">1,199,385</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 2%; text-align: justify">(i) </td> <td style="width: 98%; text-align: justify">Minghui Liu provided the interest-free loans to the Group, which are repayable on demand based on Minghui Liu’s funding needs, to support the Group’s business operation.</td></tr> </table> 19418353 7904327 1110314 691369 634095 89071 20109722 8538422 1199385 12. Selling and marketing expenses <table cellpadding="0" cellspacing="0" id="xdx_882_ecustom--SellingAndMarketingExpensesTableTextBlock_zgHad9a1kPA3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Selling and marketing expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of selling and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20240401__20240930_zL4a05FhKJOh" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20250401__20250930_zb4Bv00Qgn67" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_z8OgMan1nsii" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">659,985</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,543,131</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--LaborAndRelatedExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zGH3r7VXUKA7" style="width: 11%; text-align: right" title="Salaries and employee benefit">216,762</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--MarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zYbDE9nEFiCl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Market promotion service fee related to the business development of DAKA merchant membership services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,524,962</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,854,979</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--MarketingExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zak8XITqL1K9" style="text-align: right" title="Market promotion service fee">3,912,766</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--TravelAndEntertainmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zbSVAMg7ID8j" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">298,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">259,243</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--TravelAndEntertainmentExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zBE4wH1vnVwi" style="text-align: right" title="Travel, Meals and Entertainment">36,416</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--Rental_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zKCmD3APeXt7" style="vertical-align: bottom; background-color: White"> <td>Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,724</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,241</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--Rental_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zbDHXAp9FWc" style="text-align: right" title="Rental">455</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zYrFKb27grci" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,054</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,585</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--Depreciation_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zCz7hyJPl0o6" style="text-align: right" title="Depreciation">8,229</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--OtherSellingAndMarketingExpense1_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_ziNvNJCNPDO" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">524,790</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">99,866</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--OtherSellingAndMarketingExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zjRwyJxNxkye" style="border-bottom: Black 1pt solid; text-align: right" title="Others">14,028</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--SellingAndMarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_z2XA3Z3d98ql" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total selling and marketing expenses </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24,060,458</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">29,819,045</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--SellingAndMarketingExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zCM66nrySac9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total selling and marketing expenses">4,188,656</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_882_ecustom--SellingAndMarketingExpensesTableTextBlock_zgHad9a1kPA3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Selling and marketing expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of selling and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20240401__20240930_zL4a05FhKJOh" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20250401__20250930_zb4Bv00Qgn67" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_z8OgMan1nsii" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">659,985</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,543,131</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--LaborAndRelatedExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zGH3r7VXUKA7" style="width: 11%; text-align: right" title="Salaries and employee benefit">216,762</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--MarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zYbDE9nEFiCl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Market promotion service fee related to the business development of DAKA merchant membership services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">22,524,962</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">27,854,979</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--MarketingExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zak8XITqL1K9" style="text-align: right" title="Market promotion service fee">3,912,766</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--TravelAndEntertainmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zbSVAMg7ID8j" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">298,943</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">259,243</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--TravelAndEntertainmentExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zBE4wH1vnVwi" style="text-align: right" title="Travel, Meals and Entertainment">36,416</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--Rental_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zKCmD3APeXt7" style="vertical-align: bottom; background-color: White"> <td>Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">9,724</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,241</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--Rental_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zbDHXAp9FWc" style="text-align: right" title="Rental">455</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zYrFKb27grci" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">42,054</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">58,585</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--Depreciation_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zCz7hyJPl0o6" style="text-align: right" title="Depreciation">8,229</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--OtherSellingAndMarketingExpense1_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_ziNvNJCNPDO" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">524,790</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">99,866</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--OtherSellingAndMarketingExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zjRwyJxNxkye" style="border-bottom: Black 1pt solid; text-align: right" title="Others">14,028</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--SellingAndMarketingExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_z2XA3Z3d98ql" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total selling and marketing expenses </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">24,060,458</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">29,819,045</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--SellingAndMarketingExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SAndMExpenseMember_zCM66nrySac9" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total selling and marketing expenses">4,188,656</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

659985

1543131

216762

22524962

27854979

3912766

298943

259243

36416

9724 3241 455

42054

58585

8229

524790 99866

14028

24060458

29819045

4188656

13. General and administrative expenses <table cellpadding="0" cellspacing="0" id="xdx_881_ecustom--GeneralAndAdministrativeExpensesTableTextBlock_zg5wpHetSonb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - General and administrative expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of general and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20240401__20240930_zfVhY21aUTfh" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20250401__20250930_zTyAUDelhfmj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_z8pZTd2o7SO6" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,552,223</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,854,155</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--LaborAndRelatedExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zdQRlaOQ5f74" style="width: 11%; text-align: right" title="Salaries and employee benefit">260,452</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ServiceCharge_iI_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zz5WJ5lPIvZ9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Service charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">759,786</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,263,819</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ServiceCharge_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zlhx5mE87m05" style="text-align: right" title="Service charge">317,997</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--TravelAndEntertainmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zFaGyDmJKL82" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">286,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110,780</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--TravelAndEntertainmentExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zxWDL5x2s1Kd" style="text-align: right" title="Travel, Meals and Entertainment">15,561</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--Rental_iI_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zsaxxEQxxzW" style="vertical-align: bottom; background-color: White"> <td>Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">694,961</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,441,855</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--Rental_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_z7bRq2NDGTDk" style="text-align: right" title="Rental">202,536</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_z4OBbxt8RJl3" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88,129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Depreciation_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zwd969zULStf" style="text-align: right" title="Depreciation">12,379</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherGeneralAndAdministrativeExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_ztWuFE5sZqk9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">781,559</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">799,633</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherGeneralAndAdministrativeExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zopoEI2Ln64k" style="border-bottom: Black 1pt solid; text-align: right" title="Others">112,324</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GeneralAndAdministrativeExpense_z8GVGhIsV484" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total general and administrative expenses </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,075,201</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">6,558,371</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--GeneralAndAdministrativeExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zO9n37fNXnMf" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total general and administrative expenses">921,249</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_881_ecustom--GeneralAndAdministrativeExpensesTableTextBlock_zg5wpHetSonb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - General and administrative expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of general and administrative expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20240401__20240930_zfVhY21aUTfh" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_492_20250401__20250930_zTyAUDelhfmj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_z8pZTd2o7SO6" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,552,223</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,854,155</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--LaborAndRelatedExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zdQRlaOQ5f74" style="width: 11%; text-align: right" title="Salaries and employee benefit">260,452</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--ServiceCharge_iI_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zz5WJ5lPIvZ9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Service charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">759,786</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,263,819</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ServiceCharge_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zlhx5mE87m05" style="text-align: right" title="Service charge">317,997</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--TravelAndEntertainmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zFaGyDmJKL82" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Travel, Meals and Entertainment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">286,672</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">110,780</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--TravelAndEntertainmentExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zxWDL5x2s1Kd" style="text-align: right" title="Travel, Meals and Entertainment">15,561</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--Rental_iI_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zsaxxEQxxzW" style="vertical-align: bottom; background-color: White"> <td>Rental</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">694,961</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,441,855</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_ecustom--Rental_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_z7bRq2NDGTDk" style="text-align: right" title="Rental">202,536</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_z4OBbxt8RJl3" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">88,129</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--Depreciation_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zwd969zULStf" style="text-align: right" title="Depreciation">12,379</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OtherGeneralAndAdministrativeExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_ztWuFE5sZqk9" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">781,559</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">799,633</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherGeneralAndAdministrativeExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zopoEI2Ln64k" style="border-bottom: Black 1pt solid; text-align: right" title="Others">112,324</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--GeneralAndAdministrativeExpense_z8GVGhIsV484" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total general and administrative expenses </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">4,075,201</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">6,558,371</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--GeneralAndAdministrativeExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--SGAndAExpenseMember_zO9n37fNXnMf" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total general and administrative expenses">921,249</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1552223

1854155

260452

759786 2263819 317997

286672

110780

15561

694961 1441855 202536

88129

12379

781559

799633

112324

4075201

6558371

921249

14. Research and development expenses <table cellpadding="0" cellspacing="0" id="xdx_883_ecustom--ResearchAndDevelopmentExpensesTableTextBlock_zJFSnnVXcSUf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Research and development expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of research and development expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20240401__20240930_z55CCt0C2BEb" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250401__20250930_zbDIybdZ5trf" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the periods ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zIOSl07rSQjc" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">3,401,070</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,032,221</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--LaborAndRelatedExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z0hMhUkI0mFk" style="width: 11%; text-align: right" title="Salaries and employee benefit">144,995</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ServiceCharge_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zidqV1e3nkz9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Service charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249,530</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ServiceCharge_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zJYrkibdmQh8" style="text-align: right" title="Service charge">35,051</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z7HVbHPaV5Gg" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90,275</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Depreciation_d0_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zmbitifE9rFl" style="text-align: right" title="Depreciation">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherResearchAndDevelopmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zFrUnGi4xcGc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,921</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,821</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherResearchAndDevelopmentExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zL2Yoaf2Ghg7" style="border-bottom: Black 1pt solid; text-align: right" title="Others">1,942</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ResearchAndDevelopmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zUuCJ1ipuxv6" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total research and development expenses </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,510,266</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,295,572</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--ResearchAndDevelopmentExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zTFDfEhNNSd1" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">181,988</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_883_ecustom--ResearchAndDevelopmentExpensesTableTextBlock_zJFSnnVXcSUf" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Research and development expenses (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of research and development expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20240401__20240930_z55CCt0C2BEb" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250401__20250930_zbDIybdZ5trf" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the periods ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">RMB</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_400_eus-gaap--LaborAndRelatedExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zIOSl07rSQjc" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Salaries and employee benefit</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">3,401,070</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,032,221</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98A_eus-gaap--LaborAndRelatedExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z0hMhUkI0mFk" style="width: 11%; text-align: right" title="Salaries and employee benefit">144,995</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--ServiceCharge_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zidqV1e3nkz9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Service charge</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">249,530</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--ServiceCharge_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zJYrkibdmQh8" style="text-align: right" title="Service charge">35,051</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--Depreciation_d0_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_z7HVbHPaV5Gg" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td>Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90,275</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">–</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--Depreciation_d0_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zmbitifE9rFl" style="text-align: right" title="Depreciation">–</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--OtherResearchAndDevelopmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zFrUnGi4xcGc" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 1pt">Others</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">18,921</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13,821</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_eus-gaap--OtherResearchAndDevelopmentExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zL2Yoaf2Ghg7" style="border-bottom: Black 1pt solid; text-align: right" title="Others">1,942</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ResearchAndDevelopmentExpense_hus-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zUuCJ1ipuxv6" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total research and development expenses </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">3,510,266</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">1,295,572</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--ResearchAndDevelopmentExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__us-gaap--RAndDExpenseMember_zTFDfEhNNSd1" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">181,988</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

3401070

1032221

144995

0 249530 35051

90275

18921

13821

1942

3510266

1295572

181988

15. Other (loss)/income, net <table cellpadding="0" cellspacing="0" id="xdx_881_ecustom--ScheduleOfOtherLossIncomeTableTextBlock_zqUAYqlqPOa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Other (loss) income, net"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; width: 58%">Schedule of other income loss</td><td style="font-size: 10pt; width: 1%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%"> </td><td id="xdx_497_20240401__20240930_zP5DFkYWo6se" style="font-size: 10pt; text-align: right; width: 11%"> </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; width: 1%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%"> </td><td id="xdx_497_20250401__20250930_zayCJGbbcLZ4" style="font-size: 10pt; text-align: right; width: 11%"> </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; width: 1%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; text-align: right; width: 11%"> </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the periods ended September 30,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">US$</td><td style="font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center">(Unaudited)</td><td style="font-size: 10pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--OtherNonoperatingIncomeExpense_hus-gaap--NatureOfExpenseAxis__custom--DebtWaivedIncomeMember_zzCipAxPzZc1" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; font-size: 10pt; text-align: left">Debt waived income (i)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 11%; font-size: 10pt; text-align: right">–</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 11%; font-size: 10pt; text-align: right">490,581</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td id="xdx_980_eus-gaap--OtherNonoperatingIncomeExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__custom--DebtWaivedIncomeMember_zQIvvuz2cbZj" style="width: 11%; font-size: 10pt; text-align: right">68,912</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherNonoperatingIncomeExpense_hus-gaap--NatureOfExpenseAxis__custom--OtherLossIncomeMember_zN6wUYWUuwek" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other (loss)/income</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(15,631</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,440</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherNonoperatingIncomeExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__custom--OtherLossIncomeMember_zhjXJQwSeRYi" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">764</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">(15,631</td><td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">496,021</td><td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherNonoperatingIncomeExpense_uUSD_c20250401__20250930_zj8pMy8cXdw5" style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">69,676</td><td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in">(i)</td><td style="text-align: justify">For the six months ended September 30, 2025, the Group recorded other income of RMB490,581 (US$68,912) from the write-off of other payables, as the related party counterparties had been legally dissolved.</td></tr></table> <table cellpadding="0" cellspacing="0" id="xdx_881_ecustom--ScheduleOfOtherLossIncomeTableTextBlock_zqUAYqlqPOa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Other (loss) income, net"> <tr style="vertical-align: bottom"> <td style="font-size: 10pt; text-align: left; width: 58%">Schedule of other income loss</td><td style="font-size: 10pt; width: 1%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%"> </td><td id="xdx_497_20240401__20240930_zP5DFkYWo6se" style="font-size: 10pt; text-align: right; width: 11%"> </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; width: 1%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%"> </td><td id="xdx_497_20250401__20250930_zayCJGbbcLZ4" style="font-size: 10pt; text-align: right; width: 11%"> </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; width: 1%"> </td> <td style="font-size: 10pt; text-align: left; width: 1%"> </td><td style="font-size: 10pt; text-align: right; width: 11%"> </td><td style="font-size: 10pt; text-align: left; width: 1%"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">For the periods ended September 30,</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-size: 10pt; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">RMB</td><td style="font-size: 10pt; font-weight: bold"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="2" style="font-size: 10pt; font-weight: bold; text-align: center">US$</td><td style="font-size: 10pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-size: 10pt"> </td><td style="font-size: 10pt; font-weight: bold"> </td> <td colspan="10" style="font-size: 10pt; font-weight: bold; text-align: center">(Unaudited)</td><td style="font-size: 10pt; font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--OtherNonoperatingIncomeExpense_hus-gaap--NatureOfExpenseAxis__custom--DebtWaivedIncomeMember_zzCipAxPzZc1" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; font-size: 10pt; text-align: left">Debt waived income (i)</td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 11%; font-size: 10pt; text-align: right">–</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 11%; font-size: 10pt; text-align: right">490,581</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td><td style="width: 1%; font-size: 10pt"> </td> <td style="width: 1%; font-size: 10pt; text-align: left"> </td><td id="xdx_980_eus-gaap--OtherNonoperatingIncomeExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__custom--DebtWaivedIncomeMember_zQIvvuz2cbZj" style="width: 11%; font-size: 10pt; text-align: right">68,912</td><td style="width: 1%; font-size: 10pt; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--OtherNonoperatingIncomeExpense_hus-gaap--NatureOfExpenseAxis__custom--OtherLossIncomeMember_zN6wUYWUuwek" style="vertical-align: bottom; background-color: White"> <td style="font-size: 10pt; text-align: left; padding-bottom: 1pt">Other (loss)/income</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">(15,631</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left">)</td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">5,440</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td><td style="font-size: 10pt; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: left"> </td><td id="xdx_98E_eus-gaap--OtherNonoperatingIncomeExpense_uUSD_c20250401__20250930__us-gaap--NatureOfExpenseAxis__custom--OtherLossIncomeMember_zhjXJQwSeRYi" style="border-bottom: Black 1pt solid; font-size: 10pt; text-align: right">764</td><td style="padding-bottom: 1pt; font-size: 10pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-size: 10pt; padding-bottom: 2.5pt"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">(15,631</td><td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left">)</td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">496,021</td><td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"> </td><td style="font-size: 10pt; font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: left"> </td><td id="xdx_988_eus-gaap--OtherNonoperatingIncomeExpense_uUSD_c20250401__20250930_zj8pMy8cXdw5" style="border-bottom: Black 2.5pt double; font-size: 10pt; font-weight: bold; text-align: right">69,676</td><td style="padding-bottom: 2.5pt; font-size: 10pt; font-weight: bold; text-align: left"> </td></tr> </table>

490581

68912

-15631

5440

764

69676

16. Income Taxes (a) Corporate Income Taxes (“CIT”) Cayman Islands The Group is incorporated in the Cayman Islands and is not subject to tax on income or capital gains under the laws of Cayman Islands. Additionally, the Cayman Islands does not impose a withholding tax on payments of dividends to shareholders. Hong Kong Mingde HK is incorporated in Hong Kong and is subject to profit taxes in Hong Kong at a rate of 8.25% on assessable profits up to HK$2,000,000, and 16.5% on any part of assessable profits over HK$2,000,000. However, Mingde HK did not generate any assessable profits arising in or derived from Hong Kong for the six months ended September 30, 2025 and 2024, and accordingly no provision for Hong Kong profits tax has been made in these periods. PRC The Group is governed by the income tax laws of the PRC and the income tax provision in respect to operations in the PRC is calculated at the applicable tax rates on the taxable income for the periods based on existing legislation, interpretations and practices in respect thereof. Under the Enterprise Income Tax Laws of the PRC (the “EIT Laws”), Chinese enterprises are subjected to income tax at a rate of 25% after appropriate tax adjustments. On March 14, 2022, the Ministry of Finance ("MOF") and the State Administration of Taxation ("SAT") issued Cai Shui [2022] No. 13, which clarified that from January 1, 2022 to December 31, 2024, for eligible small and micro enterprises, the portion of annual taxable income between RMB1,000,000 and RMB3,000,000 was subject to a preferential tax rate of 5%; subsequently, on March 26, 2023, the MOF and SAT issued Cai Shui [2023] No. 6, which specified that from January 1, 2023 to December 31, 2024, the portion of annual taxable income up to RMB1,000,000 was also subject to a preferential tax rate of 5%; and later, on August 2, 2023, the MOF and SAT issued Cai Shui [2023] No. 12, which extended both preferential policies above through December 31, 2027. For the six months ended September 30, 2025 and 2024, all of the Group’s VIE subsidiaries incorporated in PRC were eligible to apply this policy, except for Fit-One. Fit-One qualified as a “High and New Technology Enterprise” (HNTE) on December 16, 2021 and was entitled to a preferential enterprise income tax rate of 15%, with such qualification originally expiring on December 16, 2024. Subsequently, in 2025, Fit-One completed the renewal review and was re-approved as a HNTE, and the new qualification is valid through December 18, 2028. The following table presented the composition of income tax expenses for the six months ended September 30, 2025 and 2024: <table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zAlOC3yepxNh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of composition of income tax expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20240401__20240930_zJyu4Tu59lXk" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250401__20250930_z71ugFe5WkQd" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="10" style="text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentIncomeTaxExpenseBenefit_d0_z8l3qbuBagM" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Current income tax expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">39,640</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--CurrentIncomeTaxExpenseBenefit_d0_uUSD_c20250401__20250930_zyZahTVcL6kb" style="width: 11%; text-align: right" title="Current income tax expense">5,568</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredIncomeTaxExpenseBenefit_d0_zY5zBBzDWmK5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deferred income tax</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,055,783</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredIncomeTaxExpenseBenefit_d0_uUSD_c20250401__20250930_zL4okjK3h2Ra" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred income tax expense">(288,774</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_ecustom--TotalIncomeTaxExpenses_iI_d0_zZu4vhvvqUH1" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total income tax expenses </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(2,016,143</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_ecustom--TotalIncomeTaxExpenses_d0_uUSD_c20250401__20250930_zigUlLeQBQs3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total income tax expenses">(283,206</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> The reconciliation of the effective tax rate and the statutory income tax rate applicable to PRC operations were as follows: <table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zT6rcfyg8Sp4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of reconciliation of the effective tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49F_20240401__20240930_zoa9X8DW9kkj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49F_20250401__20250930_zmLulEoUlai8" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_zqlLhkbrHbg2" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">(Loss)/profit before provision for income taxes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">(1,239,401</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,622,941</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_uUSD_c20250401__20250930_zw2lV3fLZoA5" style="width: 11%; text-align: right" title="Income before provision for income taxes">227,973</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--EffectiveIncomeTaxRateReconciliationsBeatAmount_iN_di_zQo0nKO0usN3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax computed at an applicable tax rate of 25%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(309,850</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">405,735</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--EffectiveIncomeTaxRateReconciliationsBeatAmount_iN_di_uUSD_c20250401__20250930_z1Z1UurKE0s2" style="text-align: right" title="Income tax expense computed at an applicable tax rate of 25%">56,993</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_d0_zi6O4oMlzkm7" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Effect of tax rate differences in various jurisdictions</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">–</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,441</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_uUSD_c20250401__20250930_zTz4NAu8Y0Pd" style="text-align: right" title="Effect of tax rate differences in various jurisdictions">2,731</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EffectOfPreferentialTaxRateForSmallAndMicroEnterprises_iI_zIvFoQ4yGGDe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of preferential tax rate for small and micro enterprises</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(523,543</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--EffectOfPreferentialTaxRateForSmallAndMicroEnterprises_iI_uUSD_c20250401__20250930_zVpBD0NUxPR" style="text-align: right" title="Effect of preferential tax rate for small and micro enterprises">(73,542</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--SuperDeductionForResearchAndDevelopmentExpense_zT6Jv1zR43Ml" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Super deduction for research and development expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(526,540</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(200,454</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--SuperDeductionForResearchAndDevelopmentExpense_uUSD_c20250401__20250930_zm73nG9aiQ0b" style="text-align: right" title="Super deduction for research and development expense">(28,157</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_zf6VLHEwUkpc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of non-deductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">308,239</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_uUSD_c20250401__20250930_zqNEP1CJqPXj" style="text-align: right" title="Effect of non-deductible items">43,298</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ChangesInValuationAllowance_zoq59CGJqGQ2" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Changes in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">775,381</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,025,561</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ChangesInValuationAllowance_uUSD_c20250401__20250930_zHcpxlqEeOW8" style="border-bottom: Black 1pt solid; text-align: right" title="Changes in valuation allowance">(284,529</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxExpenseBenefit_iN_di0_zP2bpep9sune" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Effective income tax rate </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(2,016,143</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeTaxExpenseBenefit_iN_di_uUSD_c20250401__20250930_zjlB7SfSIK33" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Effective income tax rate">(283,206</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table> Deferred Taxes Deferred income taxes reflect the net tax effects of temporary differences between the carrying amount of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of the Group’s deferred tax assets and deferred tax liabilities were as follows: <table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zIQp4SCo7eVd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of deferred tax assets and deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250331_z0aRHV0RoUWl" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20250930_zLH72HODFXwe" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zRyXFqboWDyl" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxOperatingLeaseLiabilities_iI_zWtE0etr8GJ" style="vertical-align: bottom; background-color: White"> <td style="width: 58%; text-align: left">Operating lease liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,087,659</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,305,301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--DeferredTaxOperatingLeaseLiabilities_iI_uUSD_c20250930_zc57TSlnbWTh" style="width: 11%; text-align: right" title="Operating lease liabilities">183,355</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zZfgD9g0u2wl" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Net operating loss carry forward</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,282,801</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,295,690</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_uUSD_c20250930_zIAcrnJyXUX2" style="border-bottom: Black 1pt solid; text-align: right" title="Net operating loss carry forward">1,024,819</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iI_z0HHZPNJxfHl" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total deferred tax assets</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,370,460</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,600,991</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxAssetsGross_iI_uUSD_c20250930_zT7MO1yV0EP3" style="font-weight: bold; text-align: right" title="Total deferred tax assets">1,208,174</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetValuationAllowance_iNI_di_z9OCC3l2mAbf" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Less: valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,361,029</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,335,468</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--DeferredTaxAssetValuationAllowance_iNI_di_uUSD_c20250930_zUICH1qscWug" style="border-bottom: Black 1pt solid; text-align: right" title="Less: valuation allowance">(749,469</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsNet_iI_zRMACyo055te" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax assets, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,009,431</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,265,523</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--DeferredTaxAssetsNet_iI_uUSD_c20250930_zrBFslnxIzq5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deferred tax assets, net">458,705</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesAbstract_iB_zBQGV9QdOMha" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iNI_di_zk0MwTa2LKkb" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease right of use assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,009,431</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,209,739</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iNI_di_uUSD_c20250930_z6EM9Pza9Rl2" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease right of use assets">(169,931</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iNI_di_zBdGWwqMBBld" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax liabilities, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(1,009,431</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(1,209,739</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iNI_di_uUSD_c20250930_zaOAGlBOJVG" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deferred tax liabilities, net">(169,931</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxLiabilities_iI_d0_zXEbG0pMnNqi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total deferred tax</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,055,784</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredTaxLiabilities_iI_uUSD_c20250930_z4e3qPkszn79" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total deferred tax">288,774</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> Net change in the valuation allowance of deferred tax assets is summarized as follows: <table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--SummaryOfValuationAllowanceTextBlock_zDuva1zdWYJa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Schedule of change in valuation allowance</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_490_20250401__20250930_zguHeOvCXlPk" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsNetOfValuationAllowanceAbstract_iB_z04RugZK4HZi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">Net change of valuation allowance of deferred tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 86%; font-weight: bold">Balance @03/31/2024</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--DeferredTaxAssetsValuationAllowance_iS_c20240401__20240930_zUuxSYwFD5t6" style="width: 11%; font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at beginning balance">7,193,778</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Additions during HY2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_ecustom--AdditionsAdditionsValuationAllowanceDeferredTaxAssets_c20240401__20240930_zfFOZrhjW38f" style="border-bottom: Black 1pt solid; text-align: right" title="Additions additions valuation allowance deferred tax assets">775,381</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance @09/30/2024</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--DeferredTaxAssetsValuationAllowance_iE_c20240401__20240930_z8wgWuk3AKy3" style="font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at ending balance">7,969,159</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance @03/31/2025</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredTaxAssetsValuationAllowance_iS_c20250401__20250930_zlKKOoDacqB7" style="font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at beginning balance">7,361,029</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Decreases during HY2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--DecreasesValuationAllowanceDeferredTaxAssets_c20250401__20250930_zFsGU6bAAXG9" style="border-bottom: Black 1pt solid; text-align: right" title="Additions additions valuation allowance deferred tax assets">(2,025,561</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Balance @09/30/2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--DeferredTaxAssetsValuationAllowance_iE_c20250401__20250930_zKz6dv1Q1aG7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at ending balance">5,335,468</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> The Group periodically evaluates the likelihood of the realization of deferred tax assets, and reduces the carrying amount of the deferred tax assets by a valuation allowance to the extent it believes a portion will not be realized. Management considers new evidence, both positive and negative, that could affect the Group’s future realization of deferred tax assets including its recent cumulative earnings experience, expectation of future income, the carry forward periods available for tax reporting purposes and other relevant factors. The Group determined that it is more likely than not its deferred tax assets could not be realized due to uncertainties in the evolving business landscape and market dynamics in future. In accordance with prudent accounting practices, the Group provided a valuation allowance of RMB2,025,561 (US$284,529) for its deferred tax assets for the year ended September 30, 2025 and a 100% allowance for the year ended September 30, 2024. As of March 31, 2025, the Group determined that it was more likely than not that a portion of its deferred tax assets would not be realized due to uncertainties in future taxable income. Accordingly, the Group recorded a valuation allowance against certain deferred tax assets, primarily related to net operating loss carryforwards. Deferred tax assets related to temporary differences were considered realizable as they are expected to be offset by the reversal of deferred tax liabilities. As of September 30, 2025, together with an evaluation of cumulative earnings trends and projected future taxable income over the relevant carryforward periods, management reassessed the realizability of its deferred tax assets and concluded that a portion is more likely than not to be realized. Accordingly, the Group recognized net deferred tax assets of RMB2,055,784 (US$288,774), which was primarily related to net operating loss carryforwards. (b) Taxes payable Taxes payable consists of the following: <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfTaxesPayableTableTextBlock_zVCtvgiWfRJe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of taxes payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250331_zaCB0FNdpjb6" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20250930_zvtM4C57HVu7" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_z2JRMBIzEPzd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Value-added tax payable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">10,399,477</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">13,715,958</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_uUSD_c20250930_zVPHDjyj7vq5" style="width: 11%; text-align: right" title="Value-added tax payable">1,926,669</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccruedIncomeTaxes_iI_zR82gJaFMPh7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">– </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,640</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AccruedIncomeTaxes_iI_uUSD_c20250930_zlO1dpnb4hN3" style="text-align: right" title="Income tax payable">5,568</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--OtherTaxesPayable_iI_zEh78LlNyqca" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other taxes payable (i)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,055</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,101</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--OtherTaxesPayable_iI_uUSD_c20250930_fKGkp_z766eaZAwpE4" style="border-bottom: Black 1pt solid; text-align: right" title="Other taxes payable">3,807</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_z7iVLkhp1qTb" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total taxes payable</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,413,532</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">13,782,699</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_uUSD_c20250930_zuiRi3a7wn28" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total taxes payable">1,936,044</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4px"> </td> <td style="width: 48px">(i)</td> <td style="text-align: justify">Other taxes payable mainly includes the payable of urban construction tax, education surcharge and individual income taxes.</td></tr> </table> (c) Uncertain tax positions The Group evaluates each uncertain tax position (including the potential application of interest and penalties) based on the technical merits, and measure the unrecognized benefits associated with the tax positions. As of September 30, 2025 and March 31, 2025, the Group did not have any significant unrecognized uncertain tax positions. The Group did not accrue any liability, interest or penalties related to uncertain tax positions in its provision for income taxes line of its consolidated statements of operations for the six months ended September 30, 2025 and 2024.

0.0825

2000000

0.165

2000000

<table cellpadding="0" cellspacing="0" id="xdx_89F_eus-gaap--ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock_zAlOC3yepxNh" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of composition of income tax expenses</td><td> </td> <td style="text-align: left"> </td><td id="xdx_494_20240401__20240930_zJyu4Tu59lXk" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20250401__20250930_z71ugFe5WkQd" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="10" style="text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_407_eus-gaap--CurrentIncomeTaxExpenseBenefit_d0_z8l3qbuBagM" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Current income tax expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">–</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">39,640</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--CurrentIncomeTaxExpenseBenefit_d0_uUSD_c20250401__20250930_zyZahTVcL6kb" style="width: 11%; text-align: right" title="Current income tax expense">5,568</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--DeferredIncomeTaxExpenseBenefit_d0_zY5zBBzDWmK5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Deferred income tax</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">–</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,055,783</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_eus-gaap--DeferredIncomeTaxExpenseBenefit_d0_uUSD_c20250401__20250930_zL4okjK3h2Ra" style="border-bottom: Black 1pt solid; text-align: right" title="Deferred income tax expense">(288,774</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_ecustom--TotalIncomeTaxExpenses_iI_d0_zZu4vhvvqUH1" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="padding-bottom: 2.5pt">Total income tax expenses </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(2,016,143</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_ecustom--TotalIncomeTaxExpenses_d0_uUSD_c20250401__20250930_zigUlLeQBQs3" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total income tax expenses">(283,206</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table>

39640

5568

-2055783

-288774

0 -2016143 -283206

<table cellpadding="0" cellspacing="0" id="xdx_891_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_zT6rcfyg8Sp4" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 1)"> <tr style="vertical-align: bottom"> <td style="text-align: left">Schedule of reconciliation of the effective tax rate</td><td> </td> <td style="text-align: left"> </td><td id="xdx_49F_20240401__20240930_zoa9X8DW9kkj" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49F_20250401__20250930_zmLulEoUlai8" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">For the six months ended September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold"> </td> <td colspan="10" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_zqlLhkbrHbg2" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">(Loss)/profit before provision for income taxes</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">(1,239,401</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,622,941</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_984_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesDomestic_uUSD_c20250401__20250930_zw2lV3fLZoA5" style="width: 11%; text-align: right" title="Income before provision for income taxes">227,973</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_ecustom--EffectiveIncomeTaxRateReconciliationsBeatAmount_iN_di_zQo0nKO0usN3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax computed at an applicable tax rate of 25%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(309,850</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">405,735</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_ecustom--EffectiveIncomeTaxRateReconciliationsBeatAmount_iN_di_uUSD_c20250401__20250930_z1Z1UurKE0s2" style="text-align: right" title="Income tax expense computed at an applicable tax rate of 25%">56,993</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_d0_zi6O4oMlzkm7" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Effect of tax rate differences in various jurisdictions</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">–</td><td style="font-weight: bold; text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,441</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_uUSD_c20250401__20250930_zTz4NAu8Y0Pd" style="text-align: right" title="Effect of tax rate differences in various jurisdictions">2,731</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--EffectOfPreferentialTaxRateForSmallAndMicroEnterprises_iI_zIvFoQ4yGGDe" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of preferential tax rate for small and micro enterprises</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,403</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(523,543</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_ecustom--EffectOfPreferentialTaxRateForSmallAndMicroEnterprises_iI_uUSD_c20250401__20250930_zVpBD0NUxPR" style="text-align: right" title="Effect of preferential tax rate for small and micro enterprises">(73,542</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--SuperDeductionForResearchAndDevelopmentExpense_zT6Jv1zR43Ml" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left">Super deduction for research and development expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(526,540</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(200,454</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_ecustom--SuperDeductionForResearchAndDevelopmentExpense_uUSD_c20250401__20250930_zm73nG9aiQ0b" style="text-align: right" title="Super deduction for research and development expense">(28,157</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_zf6VLHEwUkpc" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of non-deductible items</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,606</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">308,239</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_uUSD_c20250401__20250930_zqNEP1CJqPXj" style="text-align: right" title="Effect of non-deductible items">43,298</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_ecustom--ChangesInValuationAllowance_zoq59CGJqGQ2" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Changes in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">775,381</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(2,025,561</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--ChangesInValuationAllowance_uUSD_c20250401__20250930_zHcpxlqEeOW8" style="border-bottom: Black 1pt solid; text-align: right" title="Changes in valuation allowance">(284,529</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxExpenseBenefit_iN_di0_zP2bpep9sune" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Effective income tax rate </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">(2,016,143</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_986_eus-gaap--IncomeTaxExpenseBenefit_iN_di_uUSD_c20250401__20250930_zjlB7SfSIK33" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Effective income tax rate">(283,206</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left">)</td></tr> </table>

-1239401

1622941

227973

309850 -405735 -56993

19441

2731

47403 -523543 -73542 -526540 -200454 -28157

13606

308239

43298

775381 -2025561 -284529

-0

2016143

283206

<table cellpadding="0" cellspacing="0" id="xdx_89C_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zIQp4SCo7eVd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 2)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of deferred tax assets and deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20250331_z0aRHV0RoUWl" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20250930_zLH72HODFXwe" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsNetAbstract_iB_zRyXFqboWDyl" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_ecustom--DeferredTaxOperatingLeaseLiabilities_iI_zWtE0etr8GJ" style="vertical-align: bottom; background-color: White"> <td style="width: 58%; text-align: left">Operating lease liabilities</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,087,659</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">1,305,301</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_ecustom--DeferredTaxOperatingLeaseLiabilities_iI_uUSD_c20250930_zc57TSlnbWTh" style="width: 11%; text-align: right" title="Operating lease liabilities">183,355</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_zZfgD9g0u2wl" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Net operating loss carry forward</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,282,801</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">7,295,690</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_uUSD_c20250930_zIAcrnJyXUX2" style="border-bottom: Black 1pt solid; text-align: right" title="Net operating loss carry forward">1,024,819</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsGross_iI_z0HHZPNJxfHl" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Total deferred tax assets</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,370,460</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right">8,600,991</td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxAssetsGross_iI_uUSD_c20250930_zT7MO1yV0EP3" style="font-weight: bold; text-align: right" title="Total deferred tax assets">1,208,174</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--DeferredTaxAssetValuationAllowance_iNI_di_z9OCC3l2mAbf" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Less: valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(7,361,029</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(5,335,468</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_ecustom--DeferredTaxAssetValuationAllowance_iNI_di_uUSD_c20250930_zUICH1qscWug" style="border-bottom: Black 1pt solid; text-align: right" title="Less: valuation allowance">(749,469</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsNet_iI_zRMACyo055te" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax assets, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">1,009,431</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">3,265,523</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--DeferredTaxAssetsNet_iI_uUSD_c20250930_zrBFslnxIzq5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deferred tax assets, net">458,705</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxLiabilitiesAbstract_iB_zBQGV9QdOMha" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left">Deferred tax liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iNI_di_zk0MwTa2LKkb" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Operating lease right of use assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,009,431</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,209,739</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98B_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseOther_iNI_di_uUSD_c20250930_z6EM9Pza9Rl2" style="border-bottom: Black 1pt solid; text-align: right" title="Operating lease right of use assets">(169,931</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iNI_di_zBdGWwqMBBld" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 1pt">Deferred tax liabilities, net</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(1,009,431</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right">(1,209,739</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iNI_di_uUSD_c20250930_zaOAGlBOJVG" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: right" title="Deferred tax liabilities, net">(169,931</td><td style="padding-bottom: 1pt; font-weight: bold; text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--DeferredTaxLiabilities_iI_d0_zXEbG0pMnNqi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total deferred tax</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">–</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">2,055,784</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_98C_eus-gaap--DeferredTaxLiabilities_iI_uUSD_c20250930_z4e3qPkszn79" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total deferred tax">288,774</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

1087659 1305301 183355

7282801

7295690

1024819

8370460

8600991

1208174

7361029 5335468 749469

1009431

3265523

458705

1009431

1209739

169931

1009431

1209739

169931

2055784

288774

<table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--SummaryOfValuationAllowanceTextBlock_zDuva1zdWYJa" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 3)"> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Schedule of change in valuation allowance</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_490_20250401__20250930_zguHeOvCXlPk" style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxAssetsNetOfValuationAllowanceAbstract_iB_z04RugZK4HZi" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="font-weight: bold; text-align: left">Net change of valuation allowance of deferred tax</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 86%; font-weight: bold">Balance @03/31/2024</td><td style="width: 1%; font-weight: bold"> </td> <td style="width: 1%; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--DeferredTaxAssetsValuationAllowance_iS_c20240401__20240930_zUuxSYwFD5t6" style="width: 11%; font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at beginning balance">7,193,778</td><td style="width: 1%; font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Additions during HY2025</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_987_ecustom--AdditionsAdditionsValuationAllowanceDeferredTaxAssets_c20240401__20240930_zfFOZrhjW38f" style="border-bottom: Black 1pt solid; text-align: right" title="Additions additions valuation allowance deferred tax assets">775,381</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance @09/30/2024</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_983_eus-gaap--DeferredTaxAssetsValuationAllowance_iE_c20240401__20240930_z8wgWuk3AKy3" style="font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at ending balance">7,969,159</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold">Balance @03/31/2025</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td id="xdx_982_eus-gaap--DeferredTaxAssetsValuationAllowance_iS_c20250401__20250930_zlKKOoDacqB7" style="font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at beginning balance">7,361,029</td><td style="font-weight: bold; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Decreases during HY2026</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98E_ecustom--DecreasesValuationAllowanceDeferredTaxAssets_c20250401__20250930_zFsGU6bAAXG9" style="border-bottom: Black 1pt solid; text-align: right" title="Additions additions valuation allowance deferred tax assets">(2,025,561</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; padding-bottom: 2.5pt">Balance @09/30/2025</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_980_eus-gaap--DeferredTaxAssetsValuationAllowance_iE_c20250401__20250930_zKz6dv1Q1aG7" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Valuation allowance of deferred tax assets at ending balance">5,335,468</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table>

7193778

775381

7969159

7361029

-2025561

5335468

2025561 284529 <table cellpadding="0" cellspacing="0" id="xdx_89C_ecustom--ScheduleOfTaxesPayableTableTextBlock_zVCtvgiWfRJe" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Income Taxes (Details 4)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Schedule of taxes payable</td><td> </td> <td style="text-align: left"> </td><td id="xdx_490_20250331_zaCB0FNdpjb6" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20250930_zvtM4C57HVu7" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">March 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">September 30,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2025</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">RMB</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">US$</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2" style="text-align: center">(Audited)</td><td> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">(Unaudited)</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_403_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_z2JRMBIzEPzd" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="width: 58%; text-align: left">Value-added tax payable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">10,399,477</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 11%; text-align: right">13,715,958</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--SalesAndExciseTaxPayableCurrent_iI_uUSD_c20250930_zVPHDjyj7vq5" style="width: 11%; text-align: right" title="Value-added tax payable">1,926,669</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--AccruedIncomeTaxes_iI_zR82gJaFMPh7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Income tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">– </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">39,640</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--AccruedIncomeTaxes_iI_uUSD_c20250930_zlO1dpnb4hN3" style="text-align: right" title="Income tax payable">5,568</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--OtherTaxesPayable_iI_zEh78LlNyqca" style="vertical-align: bottom; background-color: rgb(238,238,238)"> <td style="text-align: left; padding-bottom: 1pt">Other taxes payable (i)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">14,055</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">27,101</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_985_ecustom--OtherTaxesPayable_iI_uUSD_c20250930_fKGkp_z766eaZAwpE4" style="border-bottom: Black 1pt solid; text-align: right" title="Other taxes payable">3,807</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_z7iVLkhp1qTb" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: left; padding-bottom: 2.5pt">Total taxes payable</td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">10,413,532</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right">13,782,699</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td><td style="font-weight: bold; padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: left"> </td><td id="xdx_989_eus-gaap--TaxesPayableCurrentAndNoncurrent_iI_uUSD_c20250930_zuiRi3a7wn28" style="border-bottom: Black 2.5pt double; font-weight: bold; text-align: right" title="Total taxes payable">1,936,044</td><td style="padding-bottom: 2.5pt; font-weight: bold; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 4px"> </td> <td style="width: 48px">(i)</td> <td style="text-align: justify">Other taxes payable mainly includes the payable of urban construction tax, education surcharge and individual income taxes.</td></tr> </table>

10399477

13715958

1926669

39640

5568

14055 27101 3807

10413532

13782699

1936044

17. Shareholders’ Equity Ordinary shares The Company was established under the laws of the Cayman Islands on September 4, 2024. The authorized number of ordinary shares upon incorporation of the Group was 100,000,000 shares with a par value of $0.0001 per share There were 50,000,000 and 50,000,000 ordinary shares issued and outstanding as of September 30, 2025 and March 31, 2025, respectively. Statutory reserve and restricted net assets The Group is required to make appropriations to certain reserve funds, comprising the statutory surplus reserve and the discretionary surplus reserve, based on after-tax net profit determined in accordance with generally accepted accounting principles of the PRC (“PRC GAAP”). Appropriations to the statutory surplus reserve are required to be at least 10% of the after-tax net profit determined in accordance with PRC GAAP until the reserve is equal to 50% of the entity’s registered capital. Appropriations to the discretionary surplus reserve are made at the discretion of the board of directors. The statutory reserve may be applied against prior year losses, if any, and may be used for general business expansion and production or increase in registered capital, but are not distributable as cash dividends. Relevant PRC laws and regulations restrict the Group’s WFOE and the VIE from transferring a portion of their net assets, equivalent to their statutory reserves and their share capital, to the Group in the form of loans, advances or cash dividends. Only PRC entities’ accumulated profits may be distributed as dividends to the Group without the consent of a third party. The payment of dividends by entities organized in China is subject to limitations, procedures and formalities. Regulations in the PRC currently permit payment of dividends only out of accumulated profits as determined in accordance with accounting standards and regulations in China. The results of operations reflected in the consolidated financial statements prepared in accordance with U.S GAAP may differ from those in the statutory financial statements of the WFOE and VIE. Remittance of dividends by a wholly foreign-owned Group out of China is subject to examination by the banks designated by State Administration of Foreign Exchange. In light of the foregoing restrictions, WFOE and the VIE are restricted in their ability to transfer their net assets to the Group. Foreign exchange and other regulations in the PRC may further restrict WFOE and the VIE from transferring funds to the Group in the form of dividends, loans and advances. As of September 30, 2025 and March 31, 2025, restricted net assets of WFOE and the VIE amounted to RMB10,000,000 (US$1,404,692) and RMB10,000,000, respectively. Subscription receivable As of September 30, 2025 and March 31, 2025, subscription receivables on the Consolidated Balance Sheets represented the unpaid consideration of 50,000,000 Ordinary Shares issued by the Company.

100000000

0.0001

50000000

10000000

1404692

10000000

50000000

18. Commitments and Contingencies (a) Capital expenditure commitments The Group had no capital expenditure commitment as of September 30, 2025 and March 31, 2025, respectively. (b) Contingencies The Group is subject to legal proceedings and regulatory actions in the ordinary course of business. The results of such proceedings cannot be predicted with certainty, but the Group does not anticipate that the final outcome arising out of any such matter will have a material adverse effect on the Group’s consolidated business, financial position, cash flows or results of operations taken as a whole. As of September 30, 2025 and March 31, 2025, the Group was not a party to any material legal or administrative proceedings.

19. Subsequent events The Group has evaluated subsequent events from the balance sheet date September 30, 2025 through the date of this report, the date of issuance of the consolidated financial statements, other than as disclosed above events, there were no other subsequent events occurred that would require recognition or disclosure in the Group’s consolidated financial statements.

Advances to vendors primarily included prepayment for service fee attributable to DAKA merchant membership service providers in 2024 and prepayment for office rental in 2025, which will be expensed in cost of revenues when the associated revenue is recognized. Loans to third parties represents the balance lend to various third parties for their working capital needs with interest-free. There was no collection related to these loans to third parties by the Company subsequently as of the date of this report. Rental deposit primarily comprises three months’ rent for the new office leased by the Group in October 2023, recognized as a security deposit in accordance with the terms of the lease agreement. Advance to employees was provided to staff for travelling and business-related use and are expensed as incurred. Others primarily included the prepayment of rent related to leases expiring within 12 months. On May 30, 2022, Fit-One entered into a one-year loan agreement with Xiaoshan Rural Commercial Bank of RMB3,000,000 bearing an interest rate of 6.30% per annum. The loan was guaranteed by a third-party entity, Hangzhou Financing Guarantee Group Co. The loan was fully repaid in May 2023. On November 14, 2022, Fit-One entered into a one-year loan agreement with Zhejiang Mintai Commercial Bank of RMB1,000,000 bearing an interest rate of 7.16% per annum. The loan was guaranteed by Mr. Conggang Chen, Ms. Minghui Liu and Ms. Lianying Zhu. The loan was fully repaid in October 2023. Advances from customers presents the cash received from customers related to POS devices pre-sale and will be recognized as revenues when the POS devices products are delivered to the customers. The advance is fully refundable without interest if customer cancels the sales order before the delivery. Advances from customers presents the cash received from DAKA regional agency customers for DAKA merchant membership business. Typically, with regional agency contracts spanning three-years which is terminable at will, these advances from DAKA regional agency customers are recognized as revenue over the contract period on a deferred basis. Minghui Liu provided the interest-free loans to the Group, which are repayable on demand based on Minghui Liu’s funding needs, to support the Group’s business operation. Other taxes payable mainly includes the payable of urban construction tax, education surcharge and individual income taxes. Advances to vendors primarily included prepayment for service fee attributable to DAKA merchant membership service providers in 2024 and prepayment for office rental and office renovation in 2025, which will be expensed in cost of revenues when the associated revenue is recognized. Loans to third parties represents the balance lent to various third parties for their working capital needs which are interest-free. As of the date of this report, RMB 448,990 (US$ 63,069) of the outstanding loans to third parties has been settled. Rental deposit primarily comprises three months’ rent for the new office leased by the Group in October 2023, recognized as a security deposit in accordance with the terms of the lease agreement. For the six months ended September 30 2025, the deposit increased by RMB 430,889 (US$ 60,527), mainly due to the lease of additional office space. Advance to employees was provided to staff for travelling and business-related use and are expensed as incurred. Others primarily included the prepayment of rent related to leases expiring within 12 months. Advances from customers presents the cash received from DAKA regional agency customers for DAKA merchant membership business. Typically, with regional agency contracts spanning three-years which is terminable at will, these advances from DAKA regional agency customers are recognized as revenue over the contract period on a deferred basis. Minghui Liu provided the interest-free loans to the Group, which are repayable on demand based on Minghui Liu’s funding needs, to support the Group’s business operation. Other taxes payable mainly includes the payable of urban construction tax, education surcharge and individual income taxes.