v3.26.1
Short-Term and Long-Term Borrowings
 6 Months Ended
Mar. 31, 2026
Short-Term and Long-Term Borrowings [Abstract]  
SHORT-TERM AND LONG-TERM BORROWINGS

NOTE 11 – SHORT-TERM AND LONG-TERM BORROWINGS 

  

Short-term and long-term borrowings consisted of the following as of March 31, 2026 and September 30, 2025:

 

   March 31,
2026		   September 30,
2025		 
Short-term borrowings          
Factored notes receivable with recourse  $3,768,166   $4,122,341 
Bank borrowings   2,174,544    
-
 
Total short-term borrowings   5,942,710    4,122,341 
           
Long-term borrowings          
Current portion  $1,960,608   $43,545 
Non-current portion   13,712,776    8,025,004 
Total long-term borrowings  $15,673,384   $8,068,549 

 

Factored notes receivable will be expired in no more than six months from March 31, 2026 and September 30, 2025, respectively.

 

All long-term borrowings outstanding were bank borrowings with interest rate ranging from 2.35% to 3.00%.

 

Maturity Analysis

 

The following is a maturity analysis of long-term borrowings as of March 31, 2026:

 

   RMB   USD 
Periods ending March 31,          
2027   13,524,274   $1,960,608 
2028   16,689,555    2,419,477 
2029   29,090,563    4,217,246 
2030   13,100,603    1,899,189 
2031 and thereafter   35,710,005    5,176,864 
Total   108,115,000   $15,673,384 

  

Pledges and Guarantees

 

The Company’s short-term and long-term bank borrowings are pledged by its assets as listed below:

 

   March 31,
2026		   September 30,
2025		 
Buildings, net  $25,237   $24,453 
Machinery and equipment   4,500,707    
-
 
Construction in progress (“CIP”)   7,875,091    9,096,839 
Land use rights, net   3,728,038    3,653,199 
Total  $16,129,072   $12,774,491 

  

Interest expense

 

For the six months ended March 31, 2026 and 2025, interest expense on all short-term borrowings, long-term borrowings and discounts on notes receivable amounted to $185,633 and $53,631, respectively.