v3.26.1
Related Party Transactions
 12 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

14 — RELATED PARTY TRANSACTIONS

 

(A) Related party balances

 

Accounts receivable, net — a related party

 

Name of Related Party  Relationship  Nature 

As of
March 31,

2026

  

As of
March 31,

2025

 
Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Accounts receivable  $73,130   $78,565 
Accounts receivable – a related party         73,130    78,565 
Less: Allowance for credit losses         (41,100)   (41,100)
Accounts receivable, net – a related party        $32,030   $37,465 

 

During the year ended March 31, 2026, the Company received $5,435 from Fly E Bike SRL.

 

Prepayments and other receivables — related parties

 

         As of
March 31,		   As of
March 31,		 
Name of Related Party  Relationship  Nature  2026   2025 
Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Other receivables  $161,560   $
—
 
PJMG LLC  Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity  Prepayments   
—
    120,000 
Prepayments and other receivables – related parties        $161,560   $120,000 

 

During the year ended March 31, 2026, the Company advanced $161,560 to Fly E Bike SRL, a distributor the Company works with and in which Mr. Ou holds over 50% of the equity interest. The amount is unsecured, non-interest bearing and repayable on demand.

On April 1, 2023, the Company agreed to retain the services of PJMG, a company in which Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, holds over 50% of the equity interests as a consultant following the completion of its IPO. PJMG was engaged to provide compliance consulting services related to accounting, finance, and management, as well as to oversee market planning and development, follow-on fundraising, and investor relationship management originally from June 2024 to May 2025, further extended to September 2025. The service fee is $45,000 for the first month and from the second month the fees will be $15,000 per month. PJMG was terminated after the services were completed on December 31, 2025. The prepayment of $120,000 was recognized as expenses in the year ended March 31, 2026.

 

Long-term prepayment for software development – a related party

 

         As of
March 31,		   As of
March 31,		 
Name of Related Party  Relationship  Nature  2026   2025 
DF Technology US Inc (“DFT”)  Ruifeng Guo (former CFO who resigned on November 6, 2024), owns over 50% equity interest of this entity  Long-term prepayment for software development  $
—
   $136,580 
Long-term prepayment for software development — a related party        $
—
   $136,580 

 

In December 2023, the Company engaged DFT for development of certain technology services. Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, owns over 50% of the equity interest in DFT. As of March 31, 2026 and 2025, the Company paid nil and $136,580 to DFT as prepayment for software development, respectively. The total contract price for the ERP system is $2,500,000, and the ERP system was delivered on May 20, 2025. (see Note 6 – Property and Equipment).

 

Accrued expenses and other payables – a related party

 

During the years ended March 31, 2026 and 2025, the Company’s former CEO advanced $225 to the Company for payments of operating expenses. The amount is unsecured, non-interest bearing and repayable on demand.

 

(B) Related party transactions

 

Revenues — a related party

 

         For the Years Ended 
         March 31, 
Name of Related Party  Relationship  Nature  2026   2025 
Fly E Bike SRL  Zhou Ou (CEO), owns over 50% equity interest of this entity  Product sales  $
—
   $42,010 
Revenues — a related party        $
—
   $42,010 

 

During the years ended March 31, 2026 and 2025, Fly E Bike SRL, purchased certain EV products from the Company in the amount of nil and $42,010, respectively.

(C) Other Related Party Transactions

 

On March 6, 2021, the Company and DGLG entered into an engagement letter, pursuant to which the Company engaged DGLG as a consultant to assist the Company in its IPO planning, financing and tax services. Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, is a partner at DGLG. Under the terms of the engagement agreement with DGLG, the Company has agreed to compensate DGLG for consulting services based on an hourly fee arrangement. DGLG’s consulting fees were nil and nil for the years ended March 31, 2026 and 2025, respectively. In addition, during the years ended March 31, 2026 and 2025, the Company paid DGLG a total of nil and $61,050 for tax services, including sales tax services, payroll tax services, and income tax services, rendered by DGLG, respectively. During the year ended March 31, 2025, the Company paid PJMG a total of $372,047 for consulting services. $312,047 was expensed as consulting expenses during the year ended March 31, 2025.

 

On April 1, 2023, the Company agreed to retain the services of PJMG, a company in which Mr. Guo, the Company’s former CFO who resigned on November 6, 2024, holds over 50% of the equity interests as a consultant following the completion of its IPO. To secure these services, the Company prepaid a total of $120,000 to PJMG as of March 31, 2025, and $120,000 was expensed as consulting expenses during the year ended March 31, 2026.