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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Mar. 31, 2026 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| RELATED PARTY TRANSACTIONS | NOTE 8 - RELATED PARTY TRANSACTIONS
Effective May 19, 2025, the Company has accepted the resignation of Mr. Jiang Libin from his position as President, CEO, CFO, the Chairman of the Board of Directors, Treasurer, Secretary and as a Director of the Company.
Also effective May 19, 2025, the Company announced the appointment of Mr. Zhang Hong as the President, CEO, CFO, the Chairman of the Board of Directors, Treasurer, Secretary. Since December 12, 2015, he has served as the director of the Company.
The Company leased part of its office to Shenzhen Yinfu Guohui Sports Development Co., Ltd, a related party of the Company from October 1, 2023 to September 30, 2025. The Company received $71,027 (RMB 491,000) in total, of which $16,898 (RMB 120,000) and $33,258 (RMB 240,000) were recognized as other income in the Consolidated Statements of Income and Comprehensive Income for the year ended March 31, 2026 and 2025, respectively. The remaining balance of $1,591 as of March 31, 2026 was included in other payable in the Balance Sheet.
Mr. Jiang Libin, our former President and Director, owned 27% share of Shenzhen Yinfu Guohui Sports Development Co., Ltd. and served as the Legal Representative. As Mr. Jiang Libin passed away last year, and the Company lost its influence on Shenzhen Yinfu Guohui Sports Development Co., Ltd. which meant Shenzhen Yinfu Guohui Sports Development Co., Ltd. was no longer a related party of the Company since this fiscal year.
On March 31, 2025, the Company entered an agreement with Mr. Jiang, Libin, the former President and CEO of the Company, accepting Mr. Jiang, Libin’s forgiveness of debt in the total amount of $2,103,762, including loans of $1,553,641 and salary payable of $550,121.
During the year ended March 31, 2026, Mr. Zhang Hong, the President and a director of the Company, had advanced the Company $45,352 for operating expenses, and received $7,031 from the Company as repayment. These advances have been formalized by non-interest-bearing demand notes.
During the year ended March 31, 2025, the Company has no transaction with Mr. Zhang Hong.
During the year ended March 31, 2026, Ms. Huang Jing had advanced the Company $350 for operating expenses, and received $0 from the Company as repayment. These advances have been formalized by non-interest-bearing demand notes.
During the year ended March 31, 2025, the Company has no transaction with Ms. Huang Jing,
As of March 31, 2026, the accrued salary payable to Mr. Zhang Hong and Ms. Huang Jing were $55,000 and $12,330 respectively.
As of March 31, 2025, the accrued salary payable to Mr. Zhang Hong and Ms. Huang Jing were $0 and $11,740 respectively.
As of March 31, 2026 and 2025 the Company owed $38,222 and $0 to Mr. Zhang Hong respectively.
As of March 31, 2026 and 2025 the Company owed $350 and $0 to Ms. Huang Jing respectively.
The amounts due to related parties are the repayment on demand, non-interest bearing, and unsecured.
Due to related parties was summarized as follows.
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