v3.26.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Mar. 31, 2026
Summary of Significant Accounting Policies [Abstract]  
Schedule of Translation of Amounts from RMB into US

Translation of amounts from RMB into US$ has been made at the following exchange rates for the respective periods:

 

    March 31,     March 31,  
    2026     2025  
Balance sheet items, except for equity accounts – RMB: US$1:     6.8980       7.2567  

 

    For the years ended
March 31,
 
    2026     2025  
Items in the statements of operations and comprehensive loss, and cash flows – RMB: US$1:     7.1019       7.2163  
Schedule of Fair Value on a Recurring Basis

The following table sets forth by level within the fair value hierarchy our financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2026 and 2025:

 

    Carrying
 Value as of
    Fair Value Measurement as of  
    March 31,     March 31, 2026  
    2026     Level 1     Level 2     Level 3  
Derivative liabilities   $ 5,615,288     $     $     $ 5,615,288  

 

    Carrying
 Value as of
    Fair Value Measurement as of  
    March 31,     March 31, 2025  
    2025     Level 1     Level 2     Level 3  
Derivative liabilities   $ 84,591     $     $     $ 84,591  
Schedule of Assets and Liabilities Measured at Fair Value

The following is a reconciliation of the beginning and ending balance of the assets and liabilities measured at fair value on a recurring basis for the years ended March 31, 2026 and 2025:

 

    August
2020
Underwritten
Public
    February
2021
Registered
Direct
    May 2021
Registered Direct Offering
    November 2021
Private Placement
    November 2025
Private Placement
    November 2025
Registered
Direct
Offering
       
    Offering
Warrants
    Offering
Warrants
    Investors
Warrants
    Placement
Warrants
    Offering
Warrants
    Placement
Warrants
    Investors
Warrants
    Pre-funded
Warrant
    Total  
BALANCE as of March 31, 2024   $ 3,219     $ 4,333     $ 80,636     $ 6,048     $ 179,520     $ 15,077     $     $     $ 288,833  
Change in fair value of derivative liabilities     (3,198 )     (4,114 )     (67,813 )     (5,086 )     (114,934 )     (9,097 )                 (204,242 )
BALANCE as of March 31, 2025     21       219       12,823       962       64,586       5,980                   84,591  
Derivative liabilities recognized at grant date                                                     4,724,165       1,013,590       5,737,755  
Change in fair value of derivative liabilities     (21 )     (219 )     (12,823 )     (962 )     (60,487 )     (5,980 )     (231,066 )     108,599       (202,959 )
Exercise                             (4,099 )                       (4,099 )
BALANCE as of March 31, 2026   $     $     $     $     $     $     $ 4,493,099     $ 1,122,189     $ 5,615,288  
​Schedule of Estimates the Fair Value to those Warrants using the Black-Scholes Valuation Model

The warrants presented in the table above are not traded in an active securities market; therefore, the Company estimates the fair value to those warrants using the Black-Scholes valuation model as of March 31, 2026 and 2025.

 

    As of March 31, 2026  
    May 13, 2021     November 10, 2021     November 14,
2025
    November 17,
2025
 
          Placement           Placement              
    Investor     Agent     Investor     Agent     Investor     Pre-funded  
Granted Date   Warrants     Warrants     Warrants     Warrants     Warrants     Warrants  
# of shares exercisable*     55,319       4,149       1,341,362       5,515       4,510,000       905,000  
Valuation date     3/31/2026       3/31/2026       3/31/2026       3/31/2026       3/31/2026       3/31/2026  
Exercise price*   $ 105.00     $ 105.00     $ 1.03     $ 68.00     $ 1.26     $ 0.0001  
Stock price*   $ 1.24     $ 1.24     $ 1.24     $ 1.24     $ 1.24     $ 1.24  
Expected term (years)     0.12       0.12       0.61       0.61       5.12       **  
Risk-free interest rate     3.73 %     3.73 %     3.71 %     3.71 %     3.93 %     4.86 %
Expected volatility     106 %     106 %     125 %     125 %     109 %     118 %
    As of March 31, 2025  
    August 4, 2020     February 10, 2021     May 13, 2021     November 10, 2021  
          Placement                 Placement           Placement  
    Underwriters’     Agent     ROFR     Investor     Agent     Investor     Agent  
Granted Date   Warrants     Warrants     Warrants     Warrants     Warrants     Warrants     Warrants  
# of shares exercisable*     3,181       3,804       1,522       55,319       4,149       2,778,315       5,515  
Valuation date     3/31/2025       3/31/2025       3/31/2025       3/31/2025       3/31/2025       3/31/2025       3/31/2025  
Exercise price*   $ 62.50     $ 138.00     $ 172.50     $ 105.00     $ 105.00     $ 2.16     $ 68.00  
Stock price*   $ 8.90     $ 8.90     $ 8.90     $ 8.90     $ 8.90     $ 8.90     $ 8.90  
Expected term (years)     0.35       0.87       0.87       1.12       1.12       1.61       1.61  
Risk-free interest rate     1.39 %     3.49 %     3.49 %     4.01 %     4.01 %     4.21 %     4.21 %
Expected volatility     112 %     112 %     112 %     112 %     112 %     112 %     112 %

 

* Giving retroactive effect to the 1-for-10 reverse stock split effected on July 29, 2025, except for the November 2025 Warrants

 

** No fixed termination date is specified in the agreement of November 2025 Pre-funded Warrants, which can be exercised at any time on or after the initial exercise date and until it is exercised in full, yet the Company adopted a 20-year assumption for valuation purposes.
​​Schedule of Finance Lease Receivables

As of March 31, 2026 and 2025, finance lease receivables consisted of the following:

 

    March 31,     March 31,  
    2026     2025  
Minimum lease payments receivable   $ 85,774     $ 293,872  
Less: Unearned interest     (36,268 )     (104,340 )
Finance lease receivables   $ 49,506     $ 189,532  
Finance lease receivables, current   $ 44,454     $ 166,339  
Finance lease receivables, non-current   $ 5,052     $ 23,193  
Schedule of Future Scheduled Minimum Lease Payments for Investments in Sales-Type Leases

Future scheduled minimum lease payments for investments in sales-type leases as of March 31, 2026 are as follows:

 

    Minimum
future
payments
 receivable
 
Twelve months ending March 31, 2027   $ 78,381  
Twelve months ending March 31, 2028     7,393  
Total   $ 85,774  
Schedule of Useful Life of Property and Equipment The useful life of property and equipment is summarized as follows:
Categories   Useful life
Office equipment, fixture and furniture   3 – 5 years
Automobiles   3 – 5 years

Purchased intangible assets are recognized and measured at fair value upon acquisition. Separately identifiable intangible assets that have determinable lives continue to be amortized over their estimated useful lives using the straight-line method as follows:

 

Categories   Useful life
Software   5–10 years
Schedule of Disaggregated Information of Revenues

Disaggregated information of revenues recorded by continuing operations by business lines are as follows:

 

    For the Years Ended  
    March 31,  
    2026     2025  
Automobile Transaction and Related Services            
- Operating lease revenues from automobile rentals   $ 1,348,542     $ 1,685,112  
- Financing revenues     68,011       93,473  
- Service fees from NEVs leasing     64,833        
- Default revenue     26,025       33,050  
- Monthly services commissions     17,485       25,799  
- Service fees from automobile purchase services     10,046       38,696  
- Other service fees     11,185       20,041  
Total Revenues   $ 1,546,127     $ 1,896,171