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20-F false true 2026-03-31 --03-31 2026 false false 001-42696 Vantage Corp E9 #07-07, Level 7 51 Cuppage Road SG Singapore 229469 Andresian D’Rozario #07-07, Level 7 51 Cuppage Road SG Singapore 229469 +65 6737 2221 Class A Ordinary Shares, par value US$0.001 per share VNTG NYSEAMER 30983121 No No Yes Yes Non-accelerated Filer true false false false U.S. GAAP false true Risk Management and Strategy Vantage Corp manages its cybersecurity risks via an Information Security Management System framework based on ISO. For instance, based on the ISO 27001 Risk Assessment Template, Vantage Corp identifies cybersecurity risks, determines their degree of significance, and sets priorities to enable an effective response. For a further discussion of Vantage Corp’s company-wide risk management, see “Item 3. Key Information—D. Risk Factors—Risks Relating to Our Business and Industry — We could incur substantial costs as a result of data protection concerns or IT systems disruption or failure.” in this annual report. As part of Vantage Corp’s cybersecurity <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90E_ecyd--CybersecurityRiskManagementProcessesIntegratedFlag_dbF_c20250401__20260331_z0Z612wbEQXi">risk management process, the IT team gathers information concerning cybersecurity-related trends and case examples relating to other companies from <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_907_ecyd--CybersecurityRiskManagementThirdPartyEngagedFlag_dbT_c20250401__20260331_zbkuK0eCEST1">third parties such as governmental security agencies and software vendors, and monitors cyberattacks from external sources. Vantage Corp is able to learn promptly about problematic events that occur within the industry and puts the information to use to improve and implement cybersecurity measures for all its subsidiaries as necessary. Vantage Corp implements measures to address problems identified through these evaluations as needed, working to raise the level of security. Vantage Corp an ongoing process in place to monitor known access routes to its systems, block potential threats, and evaluate incidents as they are identified. Similarly, in the area of product security for Hadō its software development group, the team promotes software security initiatives throughout the entire development and usage lifecycle of its products, including product development with security-by-design and multi-layered protection in mind, coupled with the collection and monitoring of threat and vulnerability information. Hadō is currently in the midst of certifying under the Cyber Trust mark in Singapore. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_90D_ecyd--CybersecurityRiskMateriallyAffectedOrReasonablyLikelyToMateriallyAffectRegistrantFlag_dbF_c20250401__20260331_zUEzi6DB19D8">No material cybersecurity incident has occurred to Vantage Corp to date. However, despite the capabilities, processes, and other security measures we employ that we believe are designed to assess, identify, and mitigate the risk of cybersecurity incidents, we may not be aware of all vulnerabilities or might not accurately assess the risks of incidents, and such preventative measures cannot provide absolute security and may not be sufficient in all circumstances or mitigate all potential risks. For a further discussion of risks that may materially affect Vantage Corp if a cybersecurity threat materializes and other matters, see “Risk Factors” in this annual report. false true false Cybersecurity Governance <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_906_ecyd--CybersecurityRiskBoardCommitteeOrSubcommitteeResponsibleForOversightTextBlock_c20250401__20260331_zwOruIxUI9C8">As part of the company-wide risk management process, Vantage Corp has established a governance subcommittee that includes members of the board of directors and audit board. The subcommittee discusses cybersecurity as one of the company-wide risks. Vantage Corp’s cybersecurity team is led by the Head of Information Technology and reports serious cybersecurity risks or incidents to the board of directors and the audit board as they arise. <span class="xdx_phnt_RGlzY2xvc3VyZSAtIEN5YmVyc2VjdXJpdHkgUmlzayBNYW5hZ2VtZW50IGFuZCBTdHJhdGVneSBEaXNjbG9zdXJlAA__" id="xdx_903_ecyd--CybersecurityRiskManagementPositionsOrCommitteesResponsibleFlag_dbT_c20250401__20260331_zULMMtsFWth3">The Head of Information Technology is responsible for managing the cybersecurity risks and strategic processes described above, as well as overseeing the prevention, mitigation, detection, and remediation of cybersecurity incidents. Vantage Corp’s process for identifying, tracking and managing cybersecurity risks on a daily basis is primarily carried out by the cybersecurity team led by the Head of Information Technology. Cybersecurity incidents at Vantage Corp or Vantage Corp’s group companies or suppliers are reported to the cybersecurity team in a timely manner as it occurs and escalated to the Head of Information Technology according to the severity of the incident where an established system to take appropriate and prompt action to resolve incidents is deployed. As of the date of this report, the Company has not encountered any cybersecurity incidents deemed material to the Company as a whole. As part of the company-wide risk management process, Vantage Corp has established a governance subcommittee that includes members of the board of directors and audit board. The subcommittee discusses cybersecurity as one of the company-wide risks. Vantage Corp’s cybersecurity team is led by the Head of Information Technology and reports serious cybersecurity risks or incidents to the board of directors and the audit board as they arise. true 3487 We have audited the accompanying consolidated balance sheets of Vantage Corp and its subsidiaries (the “Company”) as of March 31, 2026 and 2025, and the related consolidated statements of operations and comprehensive income (loss), changes in shareholders’ equity, and cash flows for each of the three years ended March 31, 2026, and the related notes (collectively referred to as the “consolidated financial statements”). In our opinion, the consolidated financial statements present fairly, in all material respects, the financial position of Vantage Corp as of March 31, 2026 and 2025, and the results of its operations and its cash flows for each of the three years ended March 31, 2026, in conformity with accounting principles generally accepted in the United States of America. Audit Alliance LLP Singapore

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<p id="xdx_80E_eus-gaap--OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlock_zF7ZnqzOV5hk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <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 style="text-align: justify; width: 0.5in">1.</td> <td style="text-align: justify">ORGANIZATION AND PRINCIPAL ACTIVITIES</td></tr> </table> Vantage Corp (the “Company”) is an exempted company incorporated on April 2, 2024, under the laws of the Cayman Islands. Through its subsidiaries, the Company earns broking commissions based on the value of freight, freight hire, or assets. For broking services, commissions are earned either as a percentage of the underlying contract value or as a fixed fee per contract. The Company’s brokers act as intermediaries between shipping principals, facilitating transactions across global maritime markets. The Company connects charterers with cargo interests and vessel owners with available capacity, enabling the negotiation of voyage charter, time charter, and contract of affreightment terms, including freight and hire rates. The Company operates across major global shipping markets and maritime hubs. Reorganization The Group’s shipbroking business commenced operations in April 2012 through Vantage Shipbrokers Pte. Ltd. (“Vantage Singapore”), which was incorporated in Singapore on May 12, 2011. In June 2023, the Group expanded its operations into the Middle East through the incorporation of Vantage Nexus Commercial Brokers Co. L.L.C. (“Vantage Dubai”) in the United Arab Emirates on June 20, 2023. On February 2, 2026, the Company incorporated Hado Pte. Ltd. (“Hadō”) in Singapore as a wholly owned subsidiary to support the Group’s information technology development and digitalization initiatives. As part of the corporate reorganization undertaken in preparation for the Company’s initial public offering, Vantage (BVI) Corporation (“Vantage BVI”) was incorporated in the British Virgin Islands on April 2, 2024. The Group’s corporate structure as of March 31, 2026 comprised the following entities: <p id="xdx_89A_eus-gaap--ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTextBlock_zmp6demOmK54" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0">SCHEDULE OF REORGANIZATION OF CONSOLIDATED FINANCIAL STATEMENTS <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="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Name</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date of incorporation</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">Percentage of direct or indirect interests</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Place of incorporation</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal activities</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 26%; text-align: left">Vantage Corp</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_908_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageCorpMember_zevPEwLOQ7Ck" title="Date of incorporation">April 2, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageCorpMember_zWHD5iEaNXrg" title="Percentage of direct or indirect interests">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_90A_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageCorpMember_zPVQzQ2ePTj7" title="Place of incorporation">Cayman Islands</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageCorpMember_zasBu9ZUqjb2" title="Principal activities">Holding Business</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vantage (BVI) Corporation</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageBVICorporationMember_zHoMT03fdr63" title="Date of incorporation">April 2, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageBVICorporationMember_zPxEEgm4dug1" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageBVICorporationMember_zpBv8SBKoeoi" title="Place of incorporation">British Virgin Islands</td><td> </td> <td style="text-align: center"><span id="xdx_902_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageBVICorporationMember_zUj15X8RECe5" title="Principal activities">Holding Business</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vantage Shipbrokers Pte. Ltd.</td><td> </td> <td style="text-align: center"><span id="xdx_900_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageShipbrokersPteLtdMember_zKFZ1kyawBWf" title="Date of incorporation">May 12, 2011</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageShipbrokersPteLtdMember_zAKhpVnZnUQ2" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageShipbrokersPteLtdMember_zE9aPH910Xb2" title="Place of incorporation">Singapore</td><td> </td> <td style="text-align: center"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageShipbrokersPteLtdMember_zddGPgq97Pkb" title="Principal activities">Ship Broking Services</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vantage Nexus Commercial Brokers Co. L.L.C</td><td> </td> <td style="text-align: center"><span id="xdx_901_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageNexusCommercialBrokersCoLlcMember_zCWR9S32Btcj" title="Date of incorporation">June 20, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageNexusCommercialBrokersCoLlcMember_z5Q3rh4R3TKh" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageNexusCommercialBrokersCoLlcMember_zvyakhQGdQmj" title="Place of incorporation">Dubai</td><td> </td> <td style="text-align: center"><span id="xdx_901_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageNexusCommercialBrokersCoLlcMember_zC3hfSGU5UF2" title="Principal activities">Commercial Brokers</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hado Pte. Ltd.</td><td> </td> <td style="text-align: center"><span id="xdx_900_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HadoPteLtdMember_zD96zqs2mwje" title="Date of incorporation">February 2, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HadoPteLtdMember_zV7tJCwbzJr6" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HadoPteLtdMember_zdN5ij53kzS8" title="Place of incorporation">Singapore</td><td> </td> <td style="text-align: center"><span id="xdx_90C_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HadoPteLtdMember_zC7TCSLD1Mr" title="Principal activities">IT Services</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">PJ Marine Singapore Pte. Ltd.</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_z6Cnqi7KpMmd" title="Date of incorporation">January 2, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_z77JBw8mjbR1" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90E_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_zAJUEk6Ka4U2" title="Place of incorporation">Singapore</td><td> </td> <td style="text-align: center"><span id="xdx_900_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_zXwq5VbIAC49" title="Principal activities">Ship Broking Services</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Peijun Marine Consultant Co., Ltd</td><td> </td> <td style="text-align: center"><span id="xdx_908_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zZ2W8tyMmHWe" title="Date of incorporation">January 27, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zXHdeQIsjWga" title="Percentage of direct or indirect interests">60</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_907_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zxkkNCbpnCM7" title="Place of incorporation">Hong Kong</td><td> </td> <td style="text-align: center"><span id="xdx_901_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zmuFfY3t2KZb" title="Principal activities">Ship Broking Services</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">PJ Marine Shanghai Co., Ltd</td><td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_z0u9ZuUx0Ur4" title="Date of incorporation">March 23, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_zu58CZjLdFe4" title="Percentage of direct or indirect interests">60</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90B_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_zd65FVQ32ko2" title="Place of incorporation">PRC</td><td> </td> <td style="text-align: center"><span id="xdx_906_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_ztXfR5uTd7F5" title="Principal activities">Ship Broking Services</td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">1.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">ORGANIZATION AND PRINCIPAL ACTIVITIES – CONTINUED</td></tr> </table> Reorganization..cont’d The Reorganization was completed on November 28, 2024. Upon completion of the Reorganization, Vantage Corp became the ultimate holding company of the entities listed above, resulting in a change in the reporting entity from Vantage Shipbrokers Pte. Ltd. and Vantage Nexus Commercial Brokers Co. L.L.C. to Vantage Corp. The Reorganization was accounted for as a recapitalization of entities under common control because Vantage Shipbrokers Pte. Ltd. and Vantage Nexus Commercial Brokers Co. L.L.C. were under the common control of the same controlling shareholders before and after the Reorganization. Accordingly, the Reorganization has been accounted for in accordance with ASC 805-50, Business Combinations—Related Issues. The consolidated financial statements have been prepared on a retrospective basis as if Vantage Corp had been the holding company of the reorganized entities for all periods presented, similar to a pooling-of-interests. The accompanying consolidated financial statements include the assets, liabilities, results of operations, and cash flows of the reorganized entities for all periods presented, after eliminating all intercompany balances and transactions. Completion of the Initial Public Offering On June 13, 2025, the Company completed the Initial Public Offering (“IPO”) of <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250613__20250613__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_ziZpc3ASgShh" title="Number of shares issued">3,250,000 Class A Ordinary Shares on NYSE American, at a public offering price of US$<span id="xdx_90F_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250613__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zib6kqKkho8g" title="Number of shares issued, per share">4.00 per share, for total gross proceeds of US$<span id="xdx_90E_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_pn5n6_c20250613__20250613__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z0YX2DqoGuxe" title="Number of shares issued">13.0 million. The Ordinary Shares were previously approved for listing on NYSE American on June 11, 2025 and commenced trading under the ticker symbol “VNTG” on June 12, 2025. On June 13, 2025, the Company also issued warrants to the Representative and its affiliates, which are exercisable during the period commencing from the date of issuance and expiring <span id="xdx_90F_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20250613__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zxXAYwpeVXEc" title="Purchase of warrant, term">five years from the commencement of sales of the Class A Ordinary Shares in the IPO, entitling the holders of the warrants to purchase an aggregate of up to <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250613__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zP96CYHVWKy" title="Purchase of warrant">162,500 Class A Ordinary Shares at a per share price of $<span id="xdx_90E_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250613__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zKjAF92DzhL4" title="Purchase of warrant, per share">5.00. On June 18, 2025, the Company closed the sale of an additional <span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20250618__20250618__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z1R4dhxS3PWh" title="Number of shares issued">487,500 Class A Ordinary Shares of the Company, pursuant to the full exercise of the underwriter’s over-allotment option granted in connection with the Company’s IPO, at the IPO price of US$<span id="xdx_903_eus-gaap--SaleOfStockPricePerShare_iI_pid_c20250618__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zOradoPiEphg" title="Number of shares issued, per share">4.00 per share and also issued warrants to the Representative and its affiliates, which are exercisable during the period commencing from the date of issuance and expiring <span id="xdx_906_eus-gaap--WarrantsAndRightsOutstandingTerm_iI_dc_c20250618__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z2qWLhfiWCK6" title="Purchase of warrant, term">five years from the commencement of sales of the Class A Ordinary Shares in the IPO, entitling the holders of the warrants to purchase an aggregate of up to <span id="xdx_909_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_c20250618__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zTvmg75sxoub" title="Purchase of warrant">24,375 Class A Ordinary Shares at a per share price of $<span id="xdx_904_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_c20250618__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7zdHa6i2g1j" title="Purchase of warrant, per share">5.00. Acquisitions On January 2, 2026, the Company acquired <span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260102__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_znsTLsBvTqvj" title="Percentage of direct or indirect interests">100% of the equity interests of PJ Marine Singapore Pte. Ltd. (“PJ SIN”), a private company incorporated in Singapore and principally engaged in ship broking services. On January 27, 2026, the Company acquired <span id="xdx_90B_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260127__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zha3Hpy8Dskf" title="Percentage of direct or indirect interests">60% of the equity interests in Peijun Marine Consultant Co., Ltd (“PJ HK”), a private company incorporated in Hong Kong and principally engaged in ship broking services. On March 23, 2026, the Company acquired <span id="xdx_90F_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260323__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_zCPOQQuGKpAg" title="Percentage of direct or indirect interests">60% of the equity interests in PJ Marine Shanghai Co., Ltd (“PJ SH”), a private company incorporated in the PRC and principally engaged in ship broking services. These transactions are described in further detail in Note 3 (Business Combinations), including the allocation of purchase consideration and fair value measurement of identifiable assets and liabilities acquired. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

<p id="xdx_89A_eus-gaap--ConsolidationLessThanWhollyOwnedSubsidiaryParentOwnershipInterestEffectsOfChangesNetTextBlock_zmp6demOmK54" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0">SCHEDULE OF REORGANIZATION OF CONSOLIDATED FINANCIAL STATEMENTS <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="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Name</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Date of incorporation</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">Percentage of direct or indirect interests</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Place of incorporation</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Principal activities</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 26%; text-align: left">Vantage Corp</td><td style="width: 2%"> </td> <td style="width: 16%; text-align: center"><span id="xdx_908_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageCorpMember_zevPEwLOQ7Ck" title="Date of incorporation">April 2, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 12%; text-align: right"><span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageCorpMember_zWHD5iEaNXrg" title="Percentage of direct or indirect interests">100</td><td style="width: 1%; text-align: left">%</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_90A_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageCorpMember_zPVQzQ2ePTj7" title="Place of incorporation">Cayman Islands</td><td style="width: 2%"> </td> <td style="width: 18%; text-align: center"><span id="xdx_903_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageCorpMember_zasBu9ZUqjb2" title="Principal activities">Holding Business</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vantage (BVI) Corporation</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageBVICorporationMember_zHoMT03fdr63" title="Date of incorporation">April 2, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_904_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageBVICorporationMember_zPxEEgm4dug1" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageBVICorporationMember_zpBv8SBKoeoi" title="Place of incorporation">British Virgin Islands</td><td> </td> <td style="text-align: center"><span id="xdx_902_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageBVICorporationMember_zUj15X8RECe5" title="Principal activities">Holding Business</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vantage Shipbrokers Pte. Ltd.</td><td> </td> <td style="text-align: center"><span id="xdx_900_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageShipbrokersPteLtdMember_zKFZ1kyawBWf" title="Date of incorporation">May 12, 2011</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageShipbrokersPteLtdMember_zAKhpVnZnUQ2" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_902_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageShipbrokersPteLtdMember_zE9aPH910Xb2" title="Place of incorporation">Singapore</td><td> </td> <td style="text-align: center"><span id="xdx_90D_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageShipbrokersPteLtdMember_zddGPgq97Pkb" title="Principal activities">Ship Broking Services</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Vantage Nexus Commercial Brokers Co. L.L.C</td><td> </td> <td style="text-align: center"><span id="xdx_901_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageNexusCommercialBrokersCoLlcMember_zCWR9S32Btcj" title="Date of incorporation">June 20, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_906_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageNexusCommercialBrokersCoLlcMember_z5Q3rh4R3TKh" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageNexusCommercialBrokersCoLlcMember_zvyakhQGdQmj" title="Place of incorporation">Dubai</td><td> </td> <td style="text-align: center"><span id="xdx_901_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--VantageNexusCommercialBrokersCoLlcMember_zC3hfSGU5UF2" title="Principal activities">Commercial Brokers</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Hado Pte. Ltd.</td><td> </td> <td style="text-align: center"><span id="xdx_900_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HadoPteLtdMember_zD96zqs2mwje" title="Date of incorporation">February 2, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HadoPteLtdMember_zV7tJCwbzJr6" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HadoPteLtdMember_zdN5ij53kzS8" title="Place of incorporation">Singapore</td><td> </td> <td style="text-align: center"><span id="xdx_90C_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--HadoPteLtdMember_zC7TCSLD1Mr" title="Principal activities">IT Services</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">PJ Marine Singapore Pte. Ltd.</td><td> </td> <td style="text-align: center"><span id="xdx_905_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_z6Cnqi7KpMmd" title="Date of incorporation">January 2, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_z77JBw8mjbR1" title="Percentage of direct or indirect interests">100</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90E_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_zAJUEk6Ka4U2" title="Place of incorporation">Singapore</td><td> </td> <td style="text-align: center"><span id="xdx_900_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineSingaporePteLtdMember_zXwq5VbIAC49" title="Principal activities">Ship Broking Services</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Peijun Marine Consultant Co., Ltd</td><td> </td> <td style="text-align: center"><span id="xdx_908_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zZ2W8tyMmHWe" title="Date of incorporation">January 27, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zXHdeQIsjWga" title="Percentage of direct or indirect interests">60</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_907_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zxkkNCbpnCM7" title="Place of incorporation">Hong Kong</td><td> </td> <td style="text-align: center"><span id="xdx_901_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PeijunMarineConsultantCoLtdMember_zmuFfY3t2KZb" title="Principal activities">Ship Broking Services</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: center"> </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: center"> </td><td> </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">PJ Marine Shanghai Co., Ltd</td><td> </td> <td style="text-align: center"><span id="xdx_909_ecustom--EntityDateOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_z0u9ZuUx0Ur4" title="Date of incorporation">March 23, 2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--EquityMethodInvestmentOwnershipPercentage_iI_pid_dp_uPure_c20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_zu58CZjLdFe4" title="Percentage of direct or indirect interests">60</td><td style="text-align: left">%</td><td> </td> <td style="text-align: center"><span id="xdx_90B_ecustom--EntityPlaceOfIncorporation_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_zd65FVQ32ko2" title="Place of incorporation">PRC</td><td> </td> <td style="text-align: center"><span id="xdx_906_eus-gaap--EquityMethodInvestmentDescriptionOfPrincipalActivities_c20250401__20260331__srt--ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis__custom--PJMarineShanghaiCoLtdMember_ztXfR5uTd7F5" title="Principal activities">Ship Broking Services</td></tr> </table>

April 2, 2024

Cayman Islands

Holding Business

April 2, 2024

British Virgin Islands

Holding Business

May 12, 2011

Singapore

Ship Broking Services

June 20, 2023

Dubai

Commercial Brokers

February 2, 2026

Singapore

IT Services

January 2, 2026

Singapore

Ship Broking Services

January 27, 2026

0.60

Hong Kong

Ship Broking Services

March 23, 2026

0.60

PRC

Ship Broking Services

3250000

4.00

13000000.0

P5Y

162500

5.00

487500

4.00

P5Y

24375

5.00

0.60

<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 style="text-align: justify; width: 0.5in">2.</td> <td style="text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</td></tr> </table> 2. Significant Accounting Policies (a) Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements include the consolidated balance sheets as of March 31, 2025 and 2026, and the consolidated statements of operations and comprehensive income (loss), changes in shareholders’ equity and cash flows for each of the three years in the period ended March 31, 2026. (b) Consolidation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries in which the Company has a controlling financial interest. All significant intercompany balances, transactions and unrealized gains and losses have been eliminated upon consolidation. Non-controlling interests represent the equity interests in subsidiaries that are not attributable, directly or indirectly, to the Company. Non-controlling interests are presented as a separate component of shareholders’ equity in the consolidated balance sheets. Net income (loss) and comprehensive income (loss) are attributed to the shareholders of the Company and the non-controlling interests based on their respective ownership interests. (c) Business combinations The Company accounts for business combinations in accordance with ASC 805, Business Combinations. Business combinations are accounted for using the acquisition method, whereby the identifiable assets acquired, liabilities assumed and any non-controlling interests are recognized at their acquisition-date fair values. The excess of (i) the consideration transferred, together with the fair value of any non-controlling interests, where applicable, over (ii) the fair value of the identifiable net assets acquired is recognized as goodwill. If the fair value of the identifiable net assets acquired exceeds the consideration transferred, the resulting bargain purchase gain is recognized in earnings on the acquisition date. Acquisition-related costs are expensed as incurred. During the year ended March 31, 2026, the Company completed the acquisitions of PJ Marine Singapore Pte. Ltd., Peijun Marine Consultant Co., Ltd. and PJ Marine Shanghai Co., Ltd., which are further described in Note 3. (d) Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosures of contingent assets and liabilities in the consolidated financial statements. Significant accounting estimates include, but are not limited to: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">allowance for credit loss on accounts receivable;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">impairment assessments of goodwill and long-lived assets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">valuation of assets acquired and liabilities assumed in business combinations, including customer relationship intangible assets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">determination of the useful lives of finite-lived intangible assets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">fair value of deferred consideration;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">lease assumptions used in measuring right-of-use assets and lease liabilities; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">deferred tax assets and valuation allowances.</td></tr></table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (d) Use of Estimates and Assumptions - Continued Management bases these estimates and assumptions on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results could differ materially from those estimates. (e) Risks and uncertainties The Company operates in Singapore, the United Arab Emirates (“UAE”), Hong Kong and the People’s Republic of China (“PRC”). Accordingly, the Company’s business, financial condition and results of operations are subject to risks arising from changes in economic, political, legal, regulatory and tax environments in these jurisdictions, as well as global economic conditions. The Company’s operations in the PRC are subject to evolving laws, regulations and government policies that could affect its business operations, financial condition and results of operations. (f) Foreign currency translation and transaction The consolidated financial statements are presented in United States dollars (“U.S. dollar” or “US$”), which is the Company’s reporting currency. The functional currency of Vantage Corp, Vantage (BVI) Corporation, Vantage Shipbrokers Pte. Ltd., Hado Pte. Ltd., PJ Marine Singapore Pte. Ltd. and Peijun Marine Consultant Co., Ltd. is the U.S. dollar, as these entities primarily conduct their operations in U.S. dollar-denominated transactions. The functional currency of Vantage Nexus Commercial Brokers Co. L.L.C. is the United Arab Emirates Dirham (“AED”). The functional currency of PJ Marine Shanghai Co., Ltd. is the Chinese Renminbi (“RMB”), as it operates primarily in the PRC economic environment. Assets and liabilities of subsidiaries whose functional currencies are not the U.S. dollar are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Revenue and expenses are translated using the average exchange rates prevailing during the reporting period, which approximate the exchange rates at the dates of the underlying transactions. Translation adjustments resulting from the translation of foreign subsidiaries’ financial statements are recognized as a separate component of accumulated other comprehensive income (loss) within shareholders’ equity. Foreign currency transaction gains and losses arising from transactions denominated in currencies other than an entity’s functional currency are recognized in the consolidated statements of operations and comprehensive income (loss) within other income (expense). (g) Fair value measurement Accounting guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When measuring fair value, the Company considers the principal or most advantageous market in which it would transact and the assumptions that market participants would use in pricing the asset or liability. ASC 820, Fair Value Measurement, establishes a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs in measuring fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (g) Fair value measurement – Continued The three levels of the fair value hierarchy are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2: Observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets in inactive markets, or other inputs that are observable or can be corroborated by observable market data.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3: Unobservable inputs that are supported by little or no market activity and are significant to the fair value measurement.</td></tr></table> During the year ended March 31, 2026, the Company applied Level 3 fair value measurements in connection with the business acquisitions described in Note 3, including the valuation of customer relationship intangible assets, deferred consideration liabilities and non-controlling interests. These fair value measurements were based on valuation techniques that incorporated significant unobservable inputs, including projected future cash flows, customer attrition rates and discount rates. The carrying amounts of cash and cash equivalents, accounts receivable and other current assets, accounts payable, accruals and other current liabilities approximate their fair values due to the short-term maturities of these instruments. Lease liabilities are measured at amortized cost after initial recognition and are not subsequently measured at fair value on a recurring basis. (h) 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 of the same party. The Company applies ASC 850, Related Party Disclosures, in identifying related parties and disclosing related party transactions. Related party transactions are recorded based on the contractual terms agreed between the parties. The Company discloses all material related party transactions and balances in the notes to the consolidated financial statements. (i) Cash and cash equivalents Cash and cash equivalents consist of cash on hand and deposits with financial institutions that have original maturities of three months or less when purchased. Cash and cash equivalents are unrestricted as to withdrawal and use. The Company maintains cash balances with reputable financial institutions in the jurisdictions in which it operates. Cash balances may at times exceed federally or locally insured limits. The Company has not experienced any losses on such accounts and believes it is not exposed to significant credit risk with respect to these cash balances. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (j) Accounts receivable, net Accounts receivable are stated at amortized cost, net of an allowance for expected credit loss. The Company estimates the allowance for expected credit loss in accordance with ASC 326, Financial Instruments—Credit Loss, based on historical collection experience, the aging of outstanding receivables, current economic conditions, reasonable and supportable forecasts, and customer-specific factors affecting collectability. The allowance is adjusted when information becomes available indicating that specific receivables may not be collectible. Accounts receivable are written off when all reasonable collection efforts have been exhausted and recovery is no longer considered probable. The Company does not generally require collateral or other credit enhancements from its customers. (k) Plant and equipment, net Plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes the purchase price of the asset and expenditures that are directly attributable to bringing the asset to the location and condition necessary for its intended use. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets as follows: SCHEDULE OF ESTIMATED USEFUL LIFE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%">Asset Category</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center">Estimated useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Computers</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember__srt--RangeAxis__srt--MinimumMember_zlZmEWLR4Cgg" title="Estimated useful lives">3-<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember__srt--RangeAxis__srt--MaximumMember_zZk0ahWBwoqc" title="Estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Furniture and fittings</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z936oxU7hOw8" title="Estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Renovation</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5 years</td></tr> </table> Repairs and maintenance that do not materially extend the useful lives or improve the expected future economic benefits of the related assets are charged to expense as incurred. Major renewals, replacements and improvements that substantially extend the useful lives of the assets or enhance their future economic benefits are capitalized. Plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of an asset is determined not to be recoverable, an impairment loss is recognized for the amount by which the carrying amount exceeds its fair value. Upon retirement or disposal, the cost and accumulated depreciation of the asset are removed from the consolidated balance sheets, and any resulting gain or loss is recognized in the consolidated statements of operations and comprehensive income (loss). (l) Goodwill Goodwill represents the excess of the consideration transferred, together with the fair value of any non-controlling interests, where applicable, over the fair value of the identifiable net assets acquired in a business combination. Goodwill is not amortized but is tested for impairment at least annually, or more frequently if events or changes in circumstances indicate that it may be impaired. The Company first performs a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, a quantitative impairment test is performed. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (l) Goodwill - Continued The quantitative impairment test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized for the amount by which the carrying amount exceeds the fair value, limited to the carrying amount of goodwill allocated to that reporting unit. The determination of the fair value of a reporting unit requires significant management judgment and estimates, including assumptions relating to future cash flows, discount rates, market conditions and other relevant factors. The Company performs its annual goodwill impairment test as of March 31 of each year. (m) Intangible assets, net Intangible assets acquired in a business combination are recognized separately from goodwill when they meet the contractual-legal or separability criteria under ASC 805, Business Combinations, and are initially measured at their acquisition-date fair values. Customer relationship intangible assets represent the value associated with established customer relationships and the expected future economic benefits arising from those relationships. Customer relationship intangible assets have finite useful lives and are amortized on a straight-line basis over their estimated useful life of <span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dc_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z5iwu9yoqVv6" title="Intangible assets finite useful lives">five years, commencing on the acquisition date. Subsequent to initial recognition, customer relationship intangible assets are carried at cost less accumulated amortization and any accumulated impairment losses. The Company evaluates finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. If the carrying amount of an intangible asset is not recoverable, an impairment loss is recognized for the amount by which the carrying amount exceeds its fair value. Customer relationship intangible assets are derecognized upon disposal or when no future economic benefits are expected from their use or disposal. Any resulting gain or loss is recognized in the consolidated statements of operations and comprehensive income (loss) in the period in which the asset is derecognized. (n) Impairment of long-lived assets The Company reviews long-lived assets, including property and equipment, right-of-use assets and finite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability is assessed by comparing the carrying amount of the asset or asset group with the estimated undiscounted future cash flows expected to result from its use and eventual disposition. If the carrying amount exceeds the estimated undiscounted future cash flows, an impairment loss is recognized for the amount by which the carrying amount exceeds its fair value. Fair value is determined using appropriate valuation techniques, including discounted cash flow analyses or other market-based approaches, as appropriate. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (o) Dividends Dividends are recognized as a liability when they are declared by the Company’s Board of Directors. Dividends declared after the balance sheet date are not recognized as a liability until they are approved and declared. (p) Commitments and contingencies In the ordinary course of business, the Company is subject to various commitments and contingencies, including operating lease commitments, legal proceedings, regulatory matters, government investigations, and tax-related matters. The Company accounts for contingencies in accordance with ASC 450, Contingencies. A liability is recognized when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. If a loss is reasonably possible but not probable, or if the amount of the loss cannot be reasonably estimated, the Company discloses the nature of the contingency when required. (q) Merger reserve Business combinations involving entities under common control are accounted for using the carrying value method. Any difference between the consideration transferred and the historical carrying amounts of the net assets acquired is recognized as an adjustment to shareholders’ equity and presented as merger reserve. (r) Deferred IPO costs The Company accounts for deferred offering costs in accordance with ASC 340-10-S99-1 (SEC Staff Accounting Bulletin Topic 5A, Expenses of Offering). Deferred offering costs consist principally of underwriting fees, legal fees, accounting fees and other direct incremental costs that are directly attributable to a proposed public offering. Deferred offering costs are capitalized until the completion of the offering. Upon the successful completion of the offering, such costs are recorded as a reduction of the gross proceeds received and charged against additional paid-in capital. (s) Revenue Recognition The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 establishes a five-step model for recognizing revenue from contracts with customers: (1) Identify the contract with a customer; (2) Identify the performance obligations in the contract; (3) Determine the transaction price; (4) Allocate the transaction price to the performance obligations in the contract; and (5) Recognize revenue when (or as) the Company satisfies a performance obligation by transferring control of the promised services to the customer. Revenue is measured based on the consideration specified in the contract with the customer and excludes amounts collected on behalf of third parties. The Company primarily generates revenue from providing shipbroking services, including freight commissions, time charter (hire) commissions, demurrage commissions, deviation and other commissions, and sale and purchase of vessel commissions. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (s) Revenue Recognition - Continued Freight commissions, demurrage commissions and deviation and other commissions Revenue from freight commissions, demurrage commissions and deviation and other commissions is generally recognized at a point in time when the underlying transaction has been completed and the Company’s performance obligation has been satisfied. Revenue is generally recognized at a point in time when the underlying transaction has been completed, the Company’s performance obligation has been satisfied, and the Company has an enforceable right to receive the commission. Time charter (hire) commissions Revenue from time charter (hire) commissions is recognized over time throughout the charter period as the Company satisfies its performance obligation by providing continuous brokerage services under the charter arrangement. Progress toward completion is measured using the passage of time over the charter period, which management believes faithfully depicts the transfer of services to the customer. Commission income is recognized as the Company becomes entitled to consideration under the terms of the underlying charter agreement. Sale and purchase of vessel commissions Revenue from sale and purchase of vessel commissions is recognized at a point in time upon completion of the sale and purchase transaction, when the Company’s performance obligation has been fully satisfied and the Company has an enforceable right to receive the commission. (t) Cost of revenue Cost of revenue primarily consists of employee compensation and benefits for personnel directly involved in providing shipbroking services, commissions expenses and other direct costs incurred in delivering the Company’s services. (u) Selling and marketing expenses Selling and marketing expenses primarily consist of entertainment expenses, transportation costs, travel expenses and other costs incurred in promoting the Company’s services and maintaining customer relationships. (v) General and administrative expenses General and administrative expenses primarily consist of employee compensation and benefits for administrative and management personnel, office expenses, legal and professional fees, information technology expenses, insurance, and other general corporate administrative expenses. (w) Government Grant Government grants are recognized when there is reasonable assurance that the Company will comply with the conditions attached to the grants and that the grants will be received. Government grants related to income are recognized in the consolidated statements of operations on a systematic basis over the periods in which the Company recognizes the related expenses that the grants are intended to compensate. Government grants received before the related recognition criteria have been satisfied are recorded as deferred liabilities within accrued and other liabilities until the applicable conditions have been fulfilled. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (x) Retirement Plan Costs Contributions to retirement plans, which are defined contribution plans, are recognized in cost of revenue or general and administrative expenses, depending on the function of the related employees. The Company participates in a government-mandated, multi-employer defined contribution pension scheme for its eligible full-time employees in Singapore. The Company is required to contribute a specified percentage of employees’ relevant income based on their age and wage levels. For employees in the PRC, the Company is required to contribute to statutory social insurance schemes, which include pension insurance, medical insurance, unemployment insurance, work-related injury insurance, and maternity insurance, in accordance with applicable PRC regulations. (y) Operating leases The Company accounts for leases in accordance with ASC 842, Leases. At the commencement date of a lease, the Company recognizes a right-of-use (“ROU”) asset and a corresponding lease liability for leases with terms greater than twelve months. Lease liabilities are measured at the present value of future lease payments over the lease term. Right-of-use assets are initially measured based on the corresponding lease liability, adjusted for any lease payments made at or before commencement, lease incentives received, and initial direct costs. The Company determines whether an arrangement contains a lease at contract inception. The Company primarily leases office facilities under operating lease arrangements. Operating lease expense is recognized on a straight-line basis over the lease term. When the implicit rate in the lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present value of future lease payments. Lease terms include renewal options when the Company is reasonably certain to exercise such options. The Company has elected the short-term lease recognition exemption permitted under ASC 842. Accordingly, right-of-use assets and lease liabilities are not recognized for qualifying short-term leases. Lease payments for qualifying short-term leases are recognized as lease expense as incurred. (z) Income taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes. Current income taxes are provided based on taxable income for the year in accordance with the tax laws of the jurisdictions in which the Company operates. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the periods in which the temporary differences are expected to reverse. The effect of changes in tax laws or tax rates is recognized in the consolidated statements of operations in the period that includes the enactment date. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (z) Income taxes – continued Deferred tax assets are reduced by a valuation allowance when, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes the financial statement effects of uncertain tax positions only when it is more likely than not that the tax position will be sustained upon examination by the relevant taxing authority based on its technical merits. Interest and penalties related to uncertain tax positions, if any, are recognized as a component of income tax expense. (aa) Segment reporting The Company determines its operating segments in accordance with ASC 280, Segment Reporting. Operating segments are identified based on the manner in which the Company’s Chief Operating Decision Maker (“CODM”) regularly reviews financial information for purposes of allocating resources and assessing performance. The CODM reviews the Company’s financial information on a consolidated basis to evaluate operating performance and allocate resources. Accordingly, the Company has determined that it operates as a single operating segment and a single reportable segment. Additional information regarding the Company’s segment reporting is included in Note 18 – Segment Reporting. (ab) Earnings (loss) per share Basic earnings (loss) per share is computed by dividing net income (loss) attributable to Vantage Corp shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. For periods in which the Company reports a net loss, diluted loss per share is the same as basic loss per share because the inclusion of potential ordinary shares would be anti-dilutive. (ac) Recent accounting pronouncements The Company is an “emerging growth company” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. In November 2024, the FASB issued ASU 2024-03 Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures. This ASU requires disclosure in the notes to the financial statements of specified information about certain costs and expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and for interim periods within fiscal years beginning after December 15, 2027. ASU 2024-03 should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. The Company is in the process of assessing the impact of this ASU on its consolidated financial statements. In December 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832). ASU No. 2025-10 establishes guidance on the recognition, measurement, and presentation of government grants received by business entities. The guidance is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods. Early adoption is permitted. Except as discussed above, the Company does not believe that any other recently issued accounting standards, if currently adopted, would have a material effect on its consolidated financial statements. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

(a) Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). The accompanying consolidated financial statements include the consolidated balance sheets as of March 31, 2025 and 2026, and the consolidated statements of operations and comprehensive income (loss), changes in shareholders’ equity and cash flows for each of the three years in the period ended March 31, 2026.

(b) Consolidation The accompanying consolidated financial statements include the accounts of the Company and its subsidiaries in which the Company has a controlling financial interest. All significant intercompany balances, transactions and unrealized gains and losses have been eliminated upon consolidation. Non-controlling interests represent the equity interests in subsidiaries that are not attributable, directly or indirectly, to the Company. Non-controlling interests are presented as a separate component of shareholders’ equity in the consolidated balance sheets. Net income (loss) and comprehensive income (loss) are attributed to the shareholders of the Company and the non-controlling interests based on their respective ownership interests.

(c) Business combinations The Company accounts for business combinations in accordance with ASC 805, Business Combinations. Business combinations are accounted for using the acquisition method, whereby the identifiable assets acquired, liabilities assumed and any non-controlling interests are recognized at their acquisition-date fair values. The excess of (i) the consideration transferred, together with the fair value of any non-controlling interests, where applicable, over (ii) the fair value of the identifiable net assets acquired is recognized as goodwill. If the fair value of the identifiable net assets acquired exceeds the consideration transferred, the resulting bargain purchase gain is recognized in earnings on the acquisition date. Acquisition-related costs are expensed as incurred. During the year ended March 31, 2026, the Company completed the acquisitions of PJ Marine Singapore Pte. Ltd., Peijun Marine Consultant Co., Ltd. and PJ Marine Shanghai Co., Ltd., which are further described in Note 3.

(d) Use of Estimates and Assumptions The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses, and the related disclosures of contingent assets and liabilities in the consolidated financial statements. Significant accounting estimates include, but are not limited to: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">allowance for credit loss on accounts receivable;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">impairment assessments of goodwill and long-lived assets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">valuation of assets acquired and liabilities assumed in business combinations, including customer relationship intangible assets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">determination of the useful lives of finite-lived intangible assets;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">fair value of deferred consideration;</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">lease assumptions used in measuring right-of-use assets and lease liabilities; and</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">deferred tax assets and valuation allowances.</td></tr></table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (d) Use of Estimates and Assumptions - Continued Management bases these estimates and assumptions on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results could differ materially from those estimates.

(e) Risks and uncertainties The Company operates in Singapore, the United Arab Emirates (“UAE”), Hong Kong and the People’s Republic of China (“PRC”). Accordingly, the Company’s business, financial condition and results of operations are subject to risks arising from changes in economic, political, legal, regulatory and tax environments in these jurisdictions, as well as global economic conditions. The Company’s operations in the PRC are subject to evolving laws, regulations and government policies that could affect its business operations, financial condition and results of operations.

(f) Foreign currency translation and transaction The consolidated financial statements are presented in United States dollars (“U.S. dollar” or “US$”), which is the Company’s reporting currency. The functional currency of Vantage Corp, Vantage (BVI) Corporation, Vantage Shipbrokers Pte. Ltd., Hado Pte. Ltd., PJ Marine Singapore Pte. Ltd. and Peijun Marine Consultant Co., Ltd. is the U.S. dollar, as these entities primarily conduct their operations in U.S. dollar-denominated transactions. The functional currency of Vantage Nexus Commercial Brokers Co. L.L.C. is the United Arab Emirates Dirham (“AED”). The functional currency of PJ Marine Shanghai Co., Ltd. is the Chinese Renminbi (“RMB”), as it operates primarily in the PRC economic environment. Assets and liabilities of subsidiaries whose functional currencies are not the U.S. dollar are translated into U.S. dollars using exchange rates in effect at the balance sheet date. Revenue and expenses are translated using the average exchange rates prevailing during the reporting period, which approximate the exchange rates at the dates of the underlying transactions. Translation adjustments resulting from the translation of foreign subsidiaries’ financial statements are recognized as a separate component of accumulated other comprehensive income (loss) within shareholders’ equity. Foreign currency transaction gains and losses arising from transactions denominated in currencies other than an entity’s functional currency are recognized in the consolidated statements of operations and comprehensive income (loss) within other income (expense).

(g) Fair value measurement Accounting guidance defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When measuring fair value, the Company considers the principal or most advantageous market in which it would transact and the assumptions that market participants would use in pricing the asset or liability. ASC 820, Fair Value Measurement, establishes a fair value hierarchy that prioritizes the use of observable inputs and minimizes the use of unobservable inputs in measuring fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (g) Fair value measurement – Continued The three levels of the fair value hierarchy are as follows: <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 2: Observable inputs other than quoted prices included within Level 1, such as quoted prices for similar assets or liabilities in active markets, quoted prices for identical or similar assets in inactive markets, or other inputs that are observable or can be corroborated by observable market data.</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 0.25in">●</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Level 3: Unobservable inputs that are supported by little or no market activity and are significant to the fair value measurement.</td></tr></table> During the year ended March 31, 2026, the Company applied Level 3 fair value measurements in connection with the business acquisitions described in Note 3, including the valuation of customer relationship intangible assets, deferred consideration liabilities and non-controlling interests. These fair value measurements were based on valuation techniques that incorporated significant unobservable inputs, including projected future cash flows, customer attrition rates and discount rates. The carrying amounts of cash and cash equivalents, accounts receivable and other current assets, accounts payable, accruals and other current liabilities approximate their fair values due to the short-term maturities of these instruments. Lease liabilities are measured at amortized cost after initial recognition and are not subsequently measured at fair value on a recurring basis.

(h) 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 of the same party. The Company applies ASC 850, Related Party Disclosures, in identifying related parties and disclosing related party transactions. Related party transactions are recorded based on the contractual terms agreed between the parties. The Company discloses all material related party transactions and balances in the notes to the consolidated financial statements.

(i) Cash and cash equivalents Cash and cash equivalents consist of cash on hand and deposits with financial institutions that have original maturities of three months or less when purchased. Cash and cash equivalents are unrestricted as to withdrawal and use. The Company maintains cash balances with reputable financial institutions in the jurisdictions in which it operates. Cash balances may at times exceed federally or locally insured limits. The Company has not experienced any losses on such accounts and believes it is not exposed to significant credit risk with respect to these cash balances. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table>

(j) Accounts receivable, net Accounts receivable are stated at amortized cost, net of an allowance for expected credit loss. The Company estimates the allowance for expected credit loss in accordance with ASC 326, Financial Instruments—Credit Loss, based on historical collection experience, the aging of outstanding receivables, current economic conditions, reasonable and supportable forecasts, and customer-specific factors affecting collectability. The allowance is adjusted when information becomes available indicating that specific receivables may not be collectible. Accounts receivable are written off when all reasonable collection efforts have been exhausted and recovery is no longer considered probable. The Company does not generally require collateral or other credit enhancements from its customers.

(k) Plant and equipment, net Plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. Cost includes the purchase price of the asset and expenditures that are directly attributable to bringing the asset to the location and condition necessary for its intended use. Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets as follows: SCHEDULE OF ESTIMATED USEFUL LIFE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%">Asset Category</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center">Estimated useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Computers</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember__srt--RangeAxis__srt--MinimumMember_zlZmEWLR4Cgg" title="Estimated useful lives">3-<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember__srt--RangeAxis__srt--MaximumMember_zZk0ahWBwoqc" title="Estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Furniture and fittings</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z936oxU7hOw8" title="Estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Renovation</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5 years</td></tr> </table> Repairs and maintenance that do not materially extend the useful lives or improve the expected future economic benefits of the related assets are charged to expense as incurred. Major renewals, replacements and improvements that substantially extend the useful lives of the assets or enhance their future economic benefits are capitalized. Plant and equipment are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. If the carrying amount of an asset is determined not to be recoverable, an impairment loss is recognized for the amount by which the carrying amount exceeds its fair value. Upon retirement or disposal, the cost and accumulated depreciation of the asset are removed from the consolidated balance sheets, and any resulting gain or loss is recognized in the consolidated statements of operations and comprehensive income (loss).

Depreciation is computed using the straight-line method over the estimated useful lives of the respective assets as follows: SCHEDULE OF ESTIMATED USEFUL LIFE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; width: 80%">Asset Category</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 2%"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center">Estimated useful life</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Computers</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_908_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember__srt--RangeAxis__srt--MinimumMember_zlZmEWLR4Cgg" title="Estimated useful lives">3-<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember__srt--RangeAxis__srt--MaximumMember_zZk0ahWBwoqc" title="Estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Furniture and fittings</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span id="xdx_90A_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20260331__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_z936oxU7hOw8" title="Estimated useful lives">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Office equipment</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5 years</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: White"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Renovation</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">5 years</td></tr> </table>

P3Y

P5Y

(l) Goodwill Goodwill represents the excess of the consideration transferred, together with the fair value of any non-controlling interests, where applicable, over the fair value of the identifiable net assets acquired in a business combination. Goodwill is not amortized but is tested for impairment at least annually, or more frequently if events or changes in circumstances indicate that it may be impaired. The Company first performs a qualitative assessment to determine whether it is more likely than not that the fair value of a reporting unit is less than its carrying amount. If the Company concludes that it is more likely than not that the fair value of a reporting unit is less than its carrying amount, a quantitative impairment test is performed. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (l) Goodwill - Continued The quantitative impairment test compares the fair value of a reporting unit with its carrying amount, including goodwill. If the carrying amount of the reporting unit exceeds its fair value, an impairment loss is recognized for the amount by which the carrying amount exceeds the fair value, limited to the carrying amount of goodwill allocated to that reporting unit. The determination of the fair value of a reporting unit requires significant management judgment and estimates, including assumptions relating to future cash flows, discount rates, market conditions and other relevant factors. The Company performs its annual goodwill impairment test as of March 31 of each year.

(m) Intangible assets, net Intangible assets acquired in a business combination are recognized separately from goodwill when they meet the contractual-legal or separability criteria under ASC 805, Business Combinations, and are initially measured at their acquisition-date fair values. Customer relationship intangible assets represent the value associated with established customer relationships and the expected future economic benefits arising from those relationships. Customer relationship intangible assets have finite useful lives and are amortized on a straight-line basis over their estimated useful life of <span id="xdx_901_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dc_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_z5iwu9yoqVv6" title="Intangible assets finite useful lives">five years, commencing on the acquisition date. Subsequent to initial recognition, customer relationship intangible assets are carried at cost less accumulated amortization and any accumulated impairment losses. The Company evaluates finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that their carrying amount may not be recoverable. If the carrying amount of an intangible asset is not recoverable, an impairment loss is recognized for the amount by which the carrying amount exceeds its fair value. Customer relationship intangible assets are derecognized upon disposal or when no future economic benefits are expected from their use or disposal. Any resulting gain or loss is recognized in the consolidated statements of operations and comprehensive income (loss) in the period in which the asset is derecognized.

P5Y

(n) Impairment of long-lived assets The Company reviews long-lived assets, including property and equipment, right-of-use assets and finite-lived intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable. Recoverability is assessed by comparing the carrying amount of the asset or asset group with the estimated undiscounted future cash flows expected to result from its use and eventual disposition. If the carrying amount exceeds the estimated undiscounted future cash flows, an impairment loss is recognized for the amount by which the carrying amount exceeds its fair value. Fair value is determined using appropriate valuation techniques, including discounted cash flow analyses or other market-based approaches, as appropriate. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table>

(o) Dividends Dividends are recognized as a liability when they are declared by the Company’s Board of Directors. Dividends declared after the balance sheet date are not recognized as a liability until they are approved and declared.

(p) Commitments and contingencies In the ordinary course of business, the Company is subject to various commitments and contingencies, including operating lease commitments, legal proceedings, regulatory matters, government investigations, and tax-related matters. The Company accounts for contingencies in accordance with ASC 450, Contingencies. A liability is recognized when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. If a loss is reasonably possible but not probable, or if the amount of the loss cannot be reasonably estimated, the Company discloses the nature of the contingency when required.

(q) Merger reserve Business combinations involving entities under common control are accounted for using the carrying value method. Any difference between the consideration transferred and the historical carrying amounts of the net assets acquired is recognized as an adjustment to shareholders’ equity and presented as merger reserve.

(r) Deferred IPO costs The Company accounts for deferred offering costs in accordance with ASC 340-10-S99-1 (SEC Staff Accounting Bulletin Topic 5A, Expenses of Offering). Deferred offering costs consist principally of underwriting fees, legal fees, accounting fees and other direct incremental costs that are directly attributable to a proposed public offering. Deferred offering costs are capitalized until the completion of the offering. Upon the successful completion of the offering, such costs are recorded as a reduction of the gross proceeds received and charged against additional paid-in capital.

(s) Revenue Recognition The Company accounts for revenue in accordance with ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”). ASC 606 establishes a five-step model for recognizing revenue from contracts with customers: (1) Identify the contract with a customer; (2) Identify the performance obligations in the contract; (3) Determine the transaction price; (4) Allocate the transaction price to the performance obligations in the contract; and (5) Recognize revenue when (or as) the Company satisfies a performance obligation by transferring control of the promised services to the customer. Revenue is measured based on the consideration specified in the contract with the customer and excludes amounts collected on behalf of third parties. The Company primarily generates revenue from providing shipbroking services, including freight commissions, time charter (hire) commissions, demurrage commissions, deviation and other commissions, and sale and purchase of vessel commissions. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (s) Revenue Recognition - Continued Freight commissions, demurrage commissions and deviation and other commissions Revenue from freight commissions, demurrage commissions and deviation and other commissions is generally recognized at a point in time when the underlying transaction has been completed and the Company’s performance obligation has been satisfied. Revenue is generally recognized at a point in time when the underlying transaction has been completed, the Company’s performance obligation has been satisfied, and the Company has an enforceable right to receive the commission. Time charter (hire) commissions Revenue from time charter (hire) commissions is recognized over time throughout the charter period as the Company satisfies its performance obligation by providing continuous brokerage services under the charter arrangement. Progress toward completion is measured using the passage of time over the charter period, which management believes faithfully depicts the transfer of services to the customer. Commission income is recognized as the Company becomes entitled to consideration under the terms of the underlying charter agreement. Sale and purchase of vessel commissions Revenue from sale and purchase of vessel commissions is recognized at a point in time upon completion of the sale and purchase transaction, when the Company’s performance obligation has been fully satisfied and the Company has an enforceable right to receive the commission.

(t) Cost of revenue Cost of revenue primarily consists of employee compensation and benefits for personnel directly involved in providing shipbroking services, commissions expenses and other direct costs incurred in delivering the Company’s services.

(u) Selling and marketing expenses Selling and marketing expenses primarily consist of entertainment expenses, transportation costs, travel expenses and other costs incurred in promoting the Company’s services and maintaining customer relationships.

(v) General and administrative expenses General and administrative expenses primarily consist of employee compensation and benefits for administrative and management personnel, office expenses, legal and professional fees, information technology expenses, insurance, and other general corporate administrative expenses. (w) Government Grant Government grants are recognized when there is reasonable assurance that the Company will comply with the conditions attached to the grants and that the grants will be received. Government grants related to income are recognized in the consolidated statements of operations on a systematic basis over the periods in which the Company recognizes the related expenses that the grants are intended to compensate. Government grants received before the related recognition criteria have been satisfied are recorded as deferred liabilities within accrued and other liabilities until the applicable conditions have been fulfilled. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table>

(x) Retirement Plan Costs Contributions to retirement plans, which are defined contribution plans, are recognized in cost of revenue or general and administrative expenses, depending on the function of the related employees. The Company participates in a government-mandated, multi-employer defined contribution pension scheme for its eligible full-time employees in Singapore. The Company is required to contribute a specified percentage of employees’ relevant income based on their age and wage levels. For employees in the PRC, the Company is required to contribute to statutory social insurance schemes, which include pension insurance, medical insurance, unemployment insurance, work-related injury insurance, and maternity insurance, in accordance with applicable PRC regulations.

(y) Operating leases The Company accounts for leases in accordance with ASC 842, Leases. At the commencement date of a lease, the Company recognizes a right-of-use (“ROU”) asset and a corresponding lease liability for leases with terms greater than twelve months. Lease liabilities are measured at the present value of future lease payments over the lease term. Right-of-use assets are initially measured based on the corresponding lease liability, adjusted for any lease payments made at or before commencement, lease incentives received, and initial direct costs. The Company determines whether an arrangement contains a lease at contract inception. The Company primarily leases office facilities under operating lease arrangements. Operating lease expense is recognized on a straight-line basis over the lease term. When the implicit rate in the lease is not readily determinable, the Company uses its incremental borrowing rate to determine the present value of future lease payments. Lease terms include renewal options when the Company is reasonably certain to exercise such options. The Company has elected the short-term lease recognition exemption permitted under ASC 842. Accordingly, right-of-use assets and lease liabilities are not recognized for qualifying short-term leases. Lease payments for qualifying short-term leases are recognized as lease expense as incurred.

(z) Income taxes The Company accounts for income taxes in accordance with ASC 740, Income Taxes. Current income taxes are provided based on taxable income for the year in accordance with the tax laws of the jurisdictions in which the Company operates. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply in the periods in which the temporary differences are expected to reverse. The effect of changes in tax laws or tax rates is recognized in the consolidated statements of operations in the period that includes the enactment date. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in">2. </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES – CONTINUED</td></tr> </table> (z) Income taxes – continued Deferred tax assets are reduced by a valuation allowance when, based on the weight of available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized. The Company recognizes the financial statement effects of uncertain tax positions only when it is more likely than not that the tax position will be sustained upon examination by the relevant taxing authority based on its technical merits. Interest and penalties related to uncertain tax positions, if any, are recognized as a component of income tax expense.

(aa) Segment reporting The Company determines its operating segments in accordance with ASC 280, Segment Reporting. Operating segments are identified based on the manner in which the Company’s Chief Operating Decision Maker (“CODM”) regularly reviews financial information for purposes of allocating resources and assessing performance. The CODM reviews the Company’s financial information on a consolidated basis to evaluate operating performance and allocate resources. Accordingly, the Company has determined that it operates as a single operating segment and a single reportable segment. Additional information regarding the Company’s segment reporting is included in Note 18 – Segment Reporting.

(ab) Earnings (loss) per share Basic earnings (loss) per share is computed by dividing net income (loss) attributable to Vantage Corp shareholders by the weighted average number of ordinary shares outstanding during the period. Diluted earnings (loss) per share reflects the potential dilution that could occur if securities or other contracts to issue ordinary shares were exercised or converted into ordinary shares. For periods in which the Company reports a net loss, diluted loss per share is the same as basic loss per share because the inclusion of potential ordinary shares would be anti-dilutive.

(ac) Recent accounting pronouncements The Company is an “emerging growth company” (“EGC”) as defined in the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”). Under the JOBS Act, EGC can delay adopting new or revised accounting standards issued subsequent to the enactment of the JOBS Act until such time as those standards apply to private companies. In November 2024, the FASB issued ASU 2024-03 Income Statement-Reporting Comprehensive Income-Expense Disaggregation Disclosures. This ASU requires disclosure in the notes to the financial statements of specified information about certain costs and expenses. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and for interim periods within fiscal years beginning after December 15, 2027. ASU 2024-03 should be applied either prospectively to financial statements issued for reporting periods after the effective date of this ASU or retrospectively to any or all prior periods presented in the financial statements. The Company is in the process of assessing the impact of this ASU on its consolidated financial statements. In December 2025, the FASB issued ASU No. 2025-10, Government Grants (Topic 832). ASU No. 2025-10 establishes guidance on the recognition, measurement, and presentation of government grants received by business entities. The guidance is effective for annual reporting periods beginning after December 15, 2028, and interim reporting periods within those annual reporting periods. Early adoption is permitted. Except as discussed above, the Company does not believe that any other recently issued accounting standards, if currently adopted, would have a material effect on its consolidated financial statements.

<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 style="text-align: justify; width: 0.5in">3.</td> <td style="text-align: justify">BUSINESS COMBINATIONS</td></tr> </table> Overview of Acquisitions During the year ended March 31, 2026, the Company completed the acquisition of the following entities: ● PJ Marine Singapore Pte. Ltd. on January 2, 2026 ● Peijun Marine Consultant Co., Ltd. on January 27, 2026 ● PJ Marine Shanghai Co., Ltd. on March 23, 2026 These acquisitions were accounted for as business combinations in accordance with ASC 805, Business Combinations. The Company concluded that each acquired entity met the definition of a business, as the acquired set included inputs and substantive processes capable of generating outputs. The results of operations of PJ Marine Singapore Pte. Ltd., Peijun Marine Consultant Co., Ltd. and PJ Marine Shanghai Co., Ltd. have been included in the Company’s consolidated financial statements from their respective acquisition dates. For the year ended March 31, 2026, the acquired businesses collectively contributed revenue of approximately US$<span id="xdx_90D_eus-gaap--BusinessCombinationProFormaInformationRevenueOfAcquireeSinceAcquisitionDateActual_c20250401__20260331__us-gaap--BusinessAcquisitionAxis__custom--ThreeAcquisitionsOfBusinessMember_zNbg08Zi4wRk" title="Acquired businesses collectively contributed revenue">817,704 and net income of approximately US$<span id="xdx_908_eus-gaap--BusinessCombinationProFormaInformationEarningsOrLossOfAcquireeSinceAcquisitionDateActual_c20250401__20260331__us-gaap--BusinessAcquisitionAxis__custom--ThreeAcquisitionsOfBusinessMember_zGlx8AZyCaai" title="Acquired businesses collectively contributed net income">326,126 to the Company’s consolidated results of operations. Pro forma revenue data and pro forma earnings data were not disclosed because the impact was immaterial. Acquisition of PJ Marine Singapore Pte. Ltd. On January 2, 2026, the Company acquired <span id="xdx_902_ecustom--BusinessAcquisitionEquityInterestAcquiredOrEquityInterestOwnedPostAcquisition_iI_pid_dp_uPure_c20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zPUtMxZ30Jq4" title="Equity interest acquired">100% equity interest in PJ Marine Singapore Pte. Ltd. The total consideration comprised (i) cash consideration of US$965,000 payable at closing, and (ii) deferred cash consideration of US$<span id="xdx_90F_ecustom--BusinessAcquisitionDeferredCashConsiderationPayable_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zSI1nuXGMCJb" title="Business acquisition deferred cash consideration payable">965,000 payable one year after the acquisition date. The deferred consideration is non-interest bearing (Note 10). The acquisition date fair value was determined by discounting the expected future payment using an appropriate discount rate reflecting market participant assumptions. The difference between the nominal amount and fair value is recognized as a deferred consideration payable at the acquisition date. The deferred consideration payable is subsequently measured at amortized cost using the effective interest method and accreted to its contractual settlement amount, with the unwinding of the discount recognized as interest expense over the one-year settlement period. <p id="xdx_899_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zbHRzEP5wFK3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> SCHEDULE OF BUSINESS ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Fair value of consideration transferred</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(204,238,255)"> <td style="width: 80%; text-align: justify">Cash consideration paid at closing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--PaymentsToAcquireBusinessesGross_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_z1Bol08NnWZe" style="width: 16%; text-align: right" title="Cash consideration paid at closing">965,000</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">Fair value of deferred consideration</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--BusinessAcquisitionFairValueOfDeferredConsideration_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zXRnXETH93C5" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value of deferred consideration">794,032</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total consideration transferred</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--BusinessCombinationConsiderationTransferred1_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zCkTLyddol5e" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">1,759,032</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_89E_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zPRLRctx1iqf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; display: none; text-align: justify">SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Net tangible assets acquired</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260102_zCIVJpJGM4G1" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zQxsBSq6L6u" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzFIR_zvXdTkE5WIc1" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">521,927</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzFIR_zOzGw0wkvDed" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">576,370</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzFIR_zKTGtX6PRR44" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Prepaid expenses and other current assets, net</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">250</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_mtBCRIAzFIR_maBCRIAz5fu_zKXLoxiaq1Ii" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Total assets acquired</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">1,098,547</td><td style="padding-bottom: 1pt; 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></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_z3bAUVLR3q0h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Liabilities</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_406_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzP1O_zc9LlUo0gdIc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzP1O_zB62zrCH6KJ7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accruals and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">529,072</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDividendPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzP1O_zPhheUzXo1tb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Dividend payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">426,092</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIncomeTaxPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzP1O_zhfwmZ4X7cgg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Income tax payable</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">44,841</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_mtBCRIAzP1O_msBCRIAz5fu_zdc773bIa7X1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total liabilities assumed</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">1,020,232</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_mtBCRIAz5fu_zbO8L28YMdw2" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net tangible assets acquired</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">78,315</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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 style="text-align: justify; width: 0.5in">3.</td> <td style="text-align: justify">BUSINESS COMBINATIONS – CONTINUED</td></tr> </table> Acquisition of PJ Marine Singapore Pte. Ltd. - Continued <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Allocation of purchase consideration</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260102_zUclpRA4rXm3" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40C_ecustom--BusinessAcquisitionNetPhysicalAndIntangibleAssetsExcludingGoodwillAcquiredAssets_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zCbYl0X1jxO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Net tangible assets acquired</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">78,315</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--BusinessAcquisitionIdentifiableIntangibleAssetsAcquiredAddressableMarketAndCustomerRelationships_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_z35aaaz0BpFg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Customer relationship intangible assets (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">737,757</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionLiabilitiesAssumedDeferredTaxLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zDuMHSYb8iTd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Deferred tax liabilities (Note 11)</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">(125,419</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zvaywPKqnoAf" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Total identifiable net assets acquired</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">690,653</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Goodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zmXnhOvReW3b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Goodwill (Note 8)</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">1,068,379</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 consideration transferred</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--BusinessCombinationConsiderationTransferred1_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zwdEcd8OCdak" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">1,759,032</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The Company used the multi-period excess earnings method (“MEEM”) to estimate the fair value of acquired customer relationships using a discount rate of <span id="xdx_900_ecustom--BusinessAcquisitionValuationTechniqueDiscountRate_pid_dp_uPure_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zBUbiDKHX0jb" title="Valuation technique discount rate">22.53%. The valuation incorporated significant assumptions, including forecasted revenue growth, customer attrition rates and an appropriate discount rate based on expected future business conditions. Goodwill represents the excess of consideration transferred over the fair value of identifiable net assets acquired and is primarily attributable to expected synergies from the assembled workforce and anticipated post-acquisition integration benefits. Goodwill is not expected to be deductible for income tax purposes. Direct acquisition-related costs were immaterial and expensed as incurred. Acquisition of Peijun Marine Consultant Co., Ltd. On January 27, 2026, the Company acquired a <span id="xdx_90B_ecustom--BusinessAcquisitionEquityInterestAcquiredOrEquityInterestOwnedPostAcquisition_iI_pid_dp_uPure_c20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zAj65IcBjcv6" title="Equity interest acquired">60% equity interest in Peijun Marine Consultants Co., Ltd. (“Peijun”) and obtained control of the entity. The acquisition was accounted for using the acquisition method under ASC 805, Business Combinations. The acquiree’s identifiable assets and liabilities have been recognized at 100% of their fair values, and a non-controlling interest (“NCI”) has been recognized for the <span id="xdx_900_ecustom--BusinessAcquisitionNoncontrollingInterestEquityInterest_iI_pid_dp_uPure_c20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_ziQNQHDiC818" title="Non-controlling Interest Recognized">40% interest not acquired. The Company applies the full goodwill method under ASC 805. The total consideration comprised (i) cash consideration of US$250,531 payable at closing, and (ii) deferred cash consideration of US$<span id="xdx_900_ecustom--BusinessAcquisitionDeferredCashConsiderationPayable_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_ziDbmXy02GO7" title="Business acquisition deferred cash consideration payable">250,531 payable one year after the acquisition date. The deferred consideration is non-interest bearing (Note 10). The acquisition date fair value was determined by discounting the expected future payment using an appropriate discount rate reflecting market participant assumptions. The difference between the nominal amount and fair value is recognized as a deferred consideration payable at the acquisition date. The deferred consideration payable is subsequently measured at amortized cost using the effective interest method and accreted to its contractual settlement amount, with the unwinding of the discount recognized as interest expense over the one-year settlement period. <p id="xdx_897_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zCsldvwFKe95" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> SCHEDULE OF BUSINESS ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Fair value of consideration transferred</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(204,238,255)"> <td style="width: 80%; text-align: justify">Cash consideration paid at closing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--PaymentsToAcquireBusinessesGross_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_z6LDUjZSX6ji" style="width: 16%; text-align: right" title="Cash consideration paid at closing">250,531</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">Fair value of deferred consideration</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--FairValueOfDeferredConsideration_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zmaSyALlRirc" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value of deferred consideration">210,580</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total consideration transferred</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--BusinessCombinationConsiderationTransferred1_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zn0VSBDfWswf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">461,111</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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 style="text-align: justify; width: 0.5in">3.</td> <td style="text-align: justify">BUSINESS COMBINATIONS – CONTINUED</td></tr> </table> Acquisition of Peijun Marine Consultant Co., Ltd. – Continued <p id="xdx_895_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zJBifasXmqo2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Net tangible assets acquired</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20260127_zUWGgq5ffvLe" style="text-align: center; font-weight: bold">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zTtLyhByf1z" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAzBVl_zW4r4WXCecIb" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">357,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAzBVl_zWkQbGuiNDu9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Accounts receivable, net</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">118,604</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_mtBCRIAzBVl_maBCRIAzPgr_zu5rDAeG0vVf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total assets acquired</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">476,116</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zh3vwx8UcXUk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Liabilities</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_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAznel_zt0rQjLc4Amc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accounts payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,851</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAznel_ztR0BSgFxTP3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accruals and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109,280</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDividendPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAznel_zDg9lB7iabr3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Dividend payable</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">237,895</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_mtBCRIAznel_msBCRIAzPgr_zWFPg5jsvc05" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total liabilities assumed</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">476,026</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_mtBCRIAzPgr_zlV8aEmPwn8i" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net tangible assets acquired</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">90</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Allocation of purchase consideration</td><td> </td> <td colspan="2" id="xdx_49A_20260127_zHCHN7Gdu9V7" style="text-align: center">US$</td><td> </td></tr> <tr id="xdx_408_ecustom--BusinessAcquisitionNetPhysicalAndIntangibleAssetsExcludingGoodwillAcquiredAssets_iI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zjuXeOGaCfH9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Net tangible assets acquired</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">90</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--BusinessAcquisitionIdentifiableIntangibleAssetsAcquiredAddressableMarketAndCustomerRelationships_iI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_z8N3VmOdVf9h" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Customer relationship intangible assets (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">412,655</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionLiabilitiesAssumedDeferredTaxLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_ztZTe0O1onUe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Deferred tax liabilities (Note 11)</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">(68,088</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zij7PGKCpbla" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Total identifiable net assets acquired</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">344,657</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-decoration: underline; font-weight: bold; text-align: justify">Reconciliation of goodwill:</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(204,238,255)"> <td style="text-align: justify">Total consideration transferred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--BusinessCombinationConsiderationTransferred1_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_z5VonE4YO0W5" style="text-align: right" title="Total consideration transferred">461,111</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Add: Fair value of non-controlling interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--BusinessAcquisitionNoncontrollingInterestFairValue_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zlv4zQTy7tZ4" style="text-align: right" title="Total consideration transferred">307,407</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Identifiable net assets acquired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iNI_di_c20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_z35BNqTPjPY9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Net assets acquired">(344,657</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">Goodwill (Note 8)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_c20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zODocbFcSLu5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">423,861</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The non-controlling interest was measured at fair value at the acquisition date based on the implied equity value of Peijun Marine Consultant Co., Ltd. derived from the consideration paid for the controlling interest. The Company used the multi-period excess earnings method (“MEEM”) to estimate the fair value of acquired customer relationships using a discount rate of <span id="xdx_909_ecustom--BusinessAcquisitionValuationTechniqueDiscountRate_pid_dp_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zJNFEvhFOcbk" title="Valuation technique discount rate">19.97%. The valuation incorporated significant assumptions, including forecasted revenue growth, customer attrition rates and an appropriate discount rate based on expected future business conditions. Goodwill represents the excess of the consideration transferred together with the fair value of the non-controlling interest over the fair value of the identifiable net assets acquired and is primarily attributable to expected synergies, the assembled workforce and anticipated post-acquisition integration benefits. Goodwill is not expected to be deductible for income tax purposes. Direct acquisition-related costs were immaterial and expensed as incurred. Acquisition of PJ Marine Shanghai Co., Ltd On March 23, 2026, the Company acquired a <span id="xdx_908_ecustom--BusinessAcquisitionEquityInterestAcquiredOrEquityInterestOwnedPostAcquisition_iI_pid_dp_uPure_c20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_z6nCcYdsHXhk" title="Equity interest acquired">60% equity interest in PJ Marine Shanghai Co., Ltd (“PJ SH”) and obtained control of the entity. The acquisition was accounted for using the acquisition method under ASC 805, Business Combinations. The acquiree’s identifiable assets and liabilities have been recognized at 100% of their fair values, and a non-controlling interest (“NCI”) has been recognized for the <span id="xdx_905_ecustom--BusinessAcquisitionNoncontrollingInterestEquityInterest_iI_pid_dp_uPure_c20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_ziifAsEbmgc3" title="Non-controlling Interest Recognized">40% interest not acquired. The Company applies the full goodwill method under ASC 805. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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 style="text-align: justify; width: 0.5in">3.</td> <td style="text-align: justify">BUSINESS COMBINATIONS – CONTINUED</td></tr> </table> Acquisition of PJ Marine Shanghai Co., Ltd – Continued The total consideration comprised (i) cash consideration of US$<span id="xdx_902_eus-gaap--PaymentsToAcquireBusinessesGross_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zHefPRiyvd6g" title="Cash consideration payable at closing">602,500 payable at closing, and (ii) deferred cash consideration of US$<span id="xdx_907_ecustom--BusinessAcquisitionDeferredCashConsiderationPayable_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_z5IVL5kTJvnh" title="Business acquisition deferred cash consideration payable">602,500 payable one year after the acquisition date. The deferred consideration is non-interest bearing (Note 10). The acquisition date fair value was determined by discounting the expected future payment using an appropriate discount rate reflecting market participant assumptions. The difference between the nominal amount and fair value is recognized as a deferred consideration payable at the acquisition date. The deferred consideration payable is subsequently measured at amortized cost using the effective interest method and accreted to its contractual settlement amount, with the unwinding of the discount recognized as interest expense over the one-year settlement period. <p id="xdx_89F_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zK6dov0eCZN7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> SCHEDULE OF BUSINESS ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Fair value of consideration transferred</td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Cash consideration paid at closing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--PaymentsToAcquireBusinessesGross_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zMb6z2GolJgl" style="width: 16%; text-align: right" title="Cash consideration paid at closing">602,500</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">Fair value of deferred consideration</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--BusinessAcquisitionFairValueOfDeferredConsideration_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zNAvVDShvaqg" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value of deferred consideration">508,661</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total consideration transferred</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationConsiderationTransferred1_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zcy9Z0Yghy58" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">1,111,161</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_89C_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zf4jwfWF5xo6" style="margin: 0pt; display: none">SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Net tangible assets acquired</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260323_zwlG8FBJBgI8" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zQySLyr0Gfhb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets</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_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzrQp_zSeiO8Dcb8N" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">154,852</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzrQp_zt4V6AvOPzGi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">162,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzrQp_z8r8bX16Zbv2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Prepaid expenses and other current assets, net</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">20,265</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_mtBCRIAzrQp_maBCRIAzVSC_zcv17eDhedw2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Total assets acquired</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">337,650</td><td style="padding-bottom: 1pt; 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></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zwdaWKvqrFv" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Liabilities</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_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzSx2_z1TP5SXggxeg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,220</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDividendPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzSx2_zq2MilJOA70b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Dividend payable</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">168</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_mtBCRIAzSx2_msBCRIAzVSC_zK78smMIn9u" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total liabilities assumed</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">10,388</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_mtBCRIAzVSC_zbXUlFEZJakd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net tangible assets acquired</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">327,262</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Allocation of purchase consideration</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260323_z9D4WS8nuG3c" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--BusinessAcquisitionNetPhysicalAndIntangibleAssetsExcludingGoodwillAcquiredAssets_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zdB9mFJfVoc3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Net tangible assets acquired</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">327,262</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessAcquisitionIdentifiableIntangibleAssetsAcquiredAddressableMarketAndCustomerRelationships_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zdE9ndgqO9Dj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Customer relationship intangible assets (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">154,912</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--BusinessAcquisitionLiabilitiesAssumedDeferredTaxLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zS0GGMpSQT5i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Deferred tax liabilities (Note 11)</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">(38,728</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zZaXAzresLLc" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Total identifiable net assets acquired</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">443,446</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-decoration: underline; font-weight: bold; text-align: justify">Reconciliation of goodwill:</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(204,238,255)"> <td style="text-align: justify">Total consideration transferred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationConsiderationTransferred1_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zdgHFikMOOD3" style="text-align: right" title="Total consideration transferred">1,111,161</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Add: Fair value of non-controlling interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--BusinessAcquisitionNoncontrollingInterestFairValue_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zordSOvtZCIc" style="text-align: right" title="Total consideration transferred">740,774</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Identifiable net assets acquired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iNI_di_c20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zDzL29ctl8I5" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Net assets acquired">(443,446</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">Goodwill (Note 8)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_c20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zwSFbRLjzsA4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">1,408,489</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The non-controlling interest was measured at fair value at the acquisition date based on the implied equity value of PJ Marine Shanghai Co., Ltd. derived from the consideration paid for the controlling interest. The Company used the multi-period excess earnings method (“MEEM”) to estimate the fair value of acquired customer relationships using a discount rate of <span id="xdx_906_ecustom--BusinessAcquisitionValuationTechniqueDiscountRate_pid_dp_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zMwZAGpFFZIc" title="Valuation technique discount rate">19.45%. The valuation incorporated significant assumptions, including forecasted revenue growth, customer attrition rates and an appropriate discount rate based on expected future business conditions. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS Acquisition of PJ Marine Shanghai Co., Ltd – Continued Goodwill represents the excess of the consideration transferred together with the fair value of the non-controlling interest over the fair value of the identifiable net assets acquired and is primarily attributable to expected synergies, the assembled workforce and anticipated post-acquisition integration benefits. Goodwill is not expected to be deductible for income tax purposes. Direct acquisition-related costs were immaterial and expensed as incurred. The carrying amount of deferred consideration payable as of March 31, 2026 is presented within Accruals and Other Current Liabilities in the consolidated balance sheets (Note 10)

817704

326126

965000

<p id="xdx_899_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zbHRzEP5wFK3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> SCHEDULE OF BUSINESS ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Fair value of consideration transferred</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(204,238,255)"> <td style="width: 80%; text-align: justify">Cash consideration paid at closing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98D_eus-gaap--PaymentsToAcquireBusinessesGross_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_z1Bol08NnWZe" style="width: 16%; text-align: right" title="Cash consideration paid at closing">965,000</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">Fair value of deferred consideration</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--BusinessAcquisitionFairValueOfDeferredConsideration_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zXRnXETH93C5" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value of deferred consideration">794,032</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total consideration transferred</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--BusinessCombinationConsiderationTransferred1_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zCkTLyddol5e" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">1,759,032</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

965000

794032

1759032

<p id="xdx_89E_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zPRLRctx1iqf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; display: none; text-align: justify">SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Net tangible assets acquired</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260102_zCIVJpJGM4G1" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zQxsBSq6L6u" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzFIR_zvXdTkE5WIc1" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">521,927</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzFIR_zOzGw0wkvDed" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">576,370</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzFIR_zKTGtX6PRR44" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Prepaid expenses and other current assets, net</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">250</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_mtBCRIAzFIR_maBCRIAz5fu_zKXLoxiaq1Ii" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Total assets acquired</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">1,098,547</td><td style="padding-bottom: 1pt; 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></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_z3bAUVLR3q0h" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Liabilities</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_406_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzP1O_zc9LlUo0gdIc" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">20,227</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzP1O_zB62zrCH6KJ7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accruals and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">529,072</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDividendPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzP1O_zPhheUzXo1tb" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Dividend payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">426,092</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIncomeTaxPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_maBCRIAzP1O_zhfwmZ4X7cgg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Income tax payable</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">44,841</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_mtBCRIAzP1O_msBCRIAz5fu_zdc773bIa7X1" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total liabilities assumed</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">1,020,232</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_mtBCRIAz5fu_zbO8L28YMdw2" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net tangible assets acquired</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">78,315</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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 style="text-align: justify; width: 0.5in">3.</td> <td style="text-align: justify">BUSINESS COMBINATIONS – CONTINUED</td></tr> </table> Acquisition of PJ Marine Singapore Pte. Ltd. - Continued <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Allocation of purchase consideration</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_499_20260102_zUclpRA4rXm3" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40C_ecustom--BusinessAcquisitionNetPhysicalAndIntangibleAssetsExcludingGoodwillAcquiredAssets_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zCbYl0X1jxO7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Net tangible assets acquired</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">78,315</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--BusinessAcquisitionIdentifiableIntangibleAssetsAcquiredAddressableMarketAndCustomerRelationships_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_z35aaaz0BpFg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Customer relationship intangible assets (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">737,757</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionLiabilitiesAssumedDeferredTaxLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zDuMHSYb8iTd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Deferred tax liabilities (Note 11)</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">(125,419</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zvaywPKqnoAf" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Total identifiable net assets acquired</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">690,653</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--Goodwill_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zmXnhOvReW3b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Goodwill (Note 8)</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">1,068,379</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 consideration transferred</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--BusinessCombinationConsiderationTransferred1_c20260102__20260102__us-gaap--BusinessAcquisitionAxis__custom--PJMarineSingaporePteLtdMember_zwdEcd8OCdak" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">1,759,032</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

521927

576370

250

1098547

20227

529072

426092 44841

1020232

78315

78315 737757 -125419 690653

1068379

1759032

0.2253 0.60 0.40

250531

<p id="xdx_897_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zCsldvwFKe95" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> SCHEDULE OF BUSINESS ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Fair value of consideration transferred</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(204,238,255)"> <td style="width: 80%; text-align: justify">Cash consideration paid at closing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_985_eus-gaap--PaymentsToAcquireBusinessesGross_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_z6LDUjZSX6ji" style="width: 16%; text-align: right" title="Cash consideration paid at closing">250,531</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">Fair value of deferred consideration</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98A_ecustom--FairValueOfDeferredConsideration_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zmaSyALlRirc" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value of deferred consideration">210,580</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total consideration transferred</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98A_eus-gaap--BusinessCombinationConsiderationTransferred1_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zn0VSBDfWswf" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">461,111</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

250531

210580

461111

<p id="xdx_895_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zJBifasXmqo2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Net tangible assets acquired</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_491_20260127_zUWGgq5ffvLe" style="text-align: center; font-weight: bold">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40B_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zTtLyhByf1z" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets</td><td> </td> <td colspan="2" style="text-align: right"> </td><td> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAzBVl_zW4r4WXCecIb" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">357,512</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAzBVl_zWkQbGuiNDu9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Accounts receivable, net</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">118,604</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_mtBCRIAzBVl_maBCRIAzPgr_zu5rDAeG0vVf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total assets acquired</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">476,116</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr id="xdx_403_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zh3vwx8UcXUk" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Liabilities</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_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAznel_zt0rQjLc4Amc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accounts payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128,851</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesOther_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAznel_ztR0BSgFxTP3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accruals and other current liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">109,280</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDividendPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_maBCRIAznel_zDg9lB7iabr3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Dividend payable</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">237,895</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_mtBCRIAznel_msBCRIAzPgr_zWFPg5jsvc05" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total liabilities assumed</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">476,026</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_mtBCRIAzPgr_zlV8aEmPwn8i" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net tangible assets acquired</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">90</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Allocation of purchase consideration</td><td> </td> <td colspan="2" id="xdx_49A_20260127_zHCHN7Gdu9V7" style="text-align: center">US$</td><td> </td></tr> <tr id="xdx_408_ecustom--BusinessAcquisitionNetPhysicalAndIntangibleAssetsExcludingGoodwillAcquiredAssets_iI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zjuXeOGaCfH9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Net tangible assets acquired</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">90</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_ecustom--BusinessAcquisitionIdentifiableIntangibleAssetsAcquiredAddressableMarketAndCustomerRelationships_iI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_z8N3VmOdVf9h" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Customer relationship intangible assets (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">412,655</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionLiabilitiesAssumedDeferredTaxLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_ztZTe0O1onUe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Deferred tax liabilities (Note 11)</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">(68,088</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_hus-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zij7PGKCpbla" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Total identifiable net assets acquired</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">344,657</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-decoration: underline; font-weight: bold; text-align: justify">Reconciliation of goodwill:</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(204,238,255)"> <td style="text-align: justify">Total consideration transferred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--BusinessCombinationConsiderationTransferred1_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_z5VonE4YO0W5" style="text-align: right" title="Total consideration transferred">461,111</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Add: Fair value of non-controlling interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_ecustom--BusinessAcquisitionNoncontrollingInterestFairValue_c20260127__20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zlv4zQTy7tZ4" style="text-align: right" title="Total consideration transferred">307,407</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Identifiable net assets acquired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iNI_di_c20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_z35BNqTPjPY9" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Net assets acquired">(344,657</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">Goodwill (Note 8)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_c20260127__us-gaap--BusinessAcquisitionAxis__custom--PeijunMarineConsultantCoLtdMember_zODocbFcSLu5" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">423,861</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

357512

118604

476116

128851

109280

237895

476026

90 412655 -68088 344657

461111

307407 344657

423861

0.1997 0.60 0.40

602500

<p id="xdx_89F_eus-gaap--ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zK6dov0eCZN7" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> SCHEDULE OF BUSINESS ACQUISITION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Fair value of consideration transferred</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(204,238,255)"> <td style="width: 80%; text-align: justify">Cash consideration paid at closing</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98E_eus-gaap--PaymentsToAcquireBusinessesGross_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zMb6z2GolJgl" style="width: 16%; text-align: right" title="Cash consideration paid at closing">602,500</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">Fair value of deferred consideration</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_983_ecustom--BusinessAcquisitionFairValueOfDeferredConsideration_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zNAvVDShvaqg" style="border-bottom: Black 1pt solid; text-align: right" title="Fair value of deferred consideration">508,661</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Total consideration transferred</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_983_eus-gaap--BusinessCombinationConsiderationTransferred1_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zcy9Z0Yghy58" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">1,111,161</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

602500

508661

1111161

<p id="xdx_89C_eus-gaap--ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zf4jwfWF5xo6" style="margin: 0pt; display: none">SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Net tangible assets acquired</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_492_20260323_zwlG8FBJBgI8" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssetsAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zQySLyr0Gfhb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Assets</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_405_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzrQp_zSeiO8Dcb8N" style="vertical-align: bottom; background-color: White"> <td style="width: 80%; text-align: justify">Cash and cash equivalents</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">154,852</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsReceivables_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzrQp_zt4V6AvOPzGi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Accounts receivable, net</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">162,533</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentAssetsPrepaidExpenseAndOtherAssets_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzrQp_z8r8bX16Zbv2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Prepaid expenses and other current assets, net</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">20,265</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_mtBCRIAzrQp_maBCRIAzVSC_zcv17eDhedw2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Total assets acquired</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">337,650</td><td style="padding-bottom: 1pt; 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></tr> <tr id="xdx_402_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilitiesAbstract_iB_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zwdaWKvqrFv" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Liabilities</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_404_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzSx2_z1TP5SXggxeg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Accounts payables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,220</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedDividendPayable_i01I_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_maBCRIAzSx2_zq2MilJOA70b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Dividend payable</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">168</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLiabilities_i01TI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_mtBCRIAzSx2_msBCRIAzVSC_zK78smMIn9u" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Total liabilities assumed</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">10,388</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr id="xdx_40E_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iTI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_mtBCRIAzVSC_zbXUlFEZJakd" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Net tangible assets acquired</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">327,262</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 80%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: justify">Allocation of purchase consideration</td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_498_20260323_z9D4WS8nuG3c" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td></tr> <tr id="xdx_40E_ecustom--BusinessAcquisitionNetPhysicalAndIntangibleAssetsExcludingGoodwillAcquiredAssets_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zdB9mFJfVoc3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Net tangible assets acquired</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">327,262</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40F_ecustom--BusinessAcquisitionIdentifiableIntangibleAssetsAcquiredAddressableMarketAndCustomerRelationships_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zdE9ndgqO9Dj" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Customer relationship intangible assets (Note 9)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">154,912</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_ecustom--BusinessAcquisitionLiabilitiesAssumedDeferredTaxLiabilities_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zS0GGMpSQT5i" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Deferred tax liabilities (Note 11)</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">(38,728</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40E_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iI_hus-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zZaXAzresLLc" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 1pt">Total identifiable net assets acquired</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">443,446</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <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></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-decoration: underline; font-weight: bold; text-align: justify">Reconciliation of goodwill:</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(204,238,255)"> <td style="text-align: justify">Total consideration transferred</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--BusinessCombinationConsiderationTransferred1_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zdgHFikMOOD3" style="text-align: right" title="Total consideration transferred">1,111,161</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Add: Fair value of non-controlling interest</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--BusinessAcquisitionNoncontrollingInterestFairValue_c20260323__20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zordSOvtZCIc" style="text-align: right" title="Total consideration transferred">740,774</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Less: Identifiable net assets acquired</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--BusinessAcquisitionIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet_iNI_di_c20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zDzL29ctl8I5" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Net assets acquired">(443,446</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">Goodwill (Note 8)</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_985_eus-gaap--BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet_iI_c20260323__us-gaap--BusinessAcquisitionAxis__custom--PJMarineShanghaiCoLtdMember_zwSFbRLjzsA4" style="border-bottom: Black 2.5pt double; text-align: right" title="Total consideration transferred">1,408,489</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

154852

162533

20265

337650

10220

168

10388

327262

327262 154912 -38728 443446

1111161

740774 443446

1408489

0.1945

4. ACCOUNTS RECEIVABLE, NET Accounts receivable, net, consists of the following: SCHEDULE OF ACCOUNTS RECEIVABLE, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250331_zRRX6xfjKvUj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_zBJlKlcvjIyd" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr id="xdx_400_eus-gaap--AccountsReceivableGrossCurrent_iI_maARNCzMwU_znCRciqs13F5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4,015,652</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">6,123,875</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_msARNCzMwU_ztMqVDDAxvWf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less : Allowance for credit loss</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">(249,295</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">(567,648</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableNetCurrent_iTI_mtARNCzMwU_zeeci9qwG4l8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Accounts receivable, net</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">3,766,357</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">5,556,227</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The changes in the allowance for credit loss were as follows: SCHEDULE OF MOVEMENTS IN ALLOWANCE FOR CREDIT LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240401__20250331_zybS8RIPpMQ8" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250401__20260331_z4gO0ns07Or2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40B_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_zFGfigit0zMc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Balance at beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">281,598</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">249,295</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_zT6PhUEVw0Ee" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Allowance acquired through business acquisitions</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">70,719</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ProvisionForDoubtfulAccounts_z8whpNDwwd19" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Allowance for expected credit loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">99,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">371,299</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_di_z9lF8AuZiS9a" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Write-back of allowance for credit loss</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">(131,566</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">(123,665</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_z1d2w9EUzFm4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance at end of year</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">249,295</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">567,648</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Accounts receivable, net, consists of the following: SCHEDULE OF ACCOUNTS RECEIVABLE, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250331_zRRX6xfjKvUj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_zBJlKlcvjIyd" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr id="xdx_400_eus-gaap--AccountsReceivableGrossCurrent_iI_maARNCzMwU_znCRciqs13F5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Accounts receivable</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">4,015,652</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">6,123,875</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iNI_di_msARNCzMwU_ztMqVDDAxvWf" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less : Allowance for credit loss</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">(249,295</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">(567,648</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--AccountsReceivableNetCurrent_iTI_mtARNCzMwU_zeeci9qwG4l8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Accounts receivable, net</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">3,766,357</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">5,556,227</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

4015652

6123875

249295

567648

3766357

5556227

The changes in the allowance for credit loss were as follows: SCHEDULE OF MOVEMENTS IN ALLOWANCE FOR CREDIT LOSS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240401__20250331_zybS8RIPpMQ8" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_493_20250401__20260331_z4gO0ns07Or2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40B_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_zFGfigit0zMc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Balance at beginning of year</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">281,598</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">249,295</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AllowanceForDoubtfulAccountsReceivableRecoveries_zT6PhUEVw0Ee" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Allowance acquired through business acquisitions</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">70,719</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--ProvisionForDoubtfulAccounts_z8whpNDwwd19" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Allowance for expected credit loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">99,263</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">371,299</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_di_z9lF8AuZiS9a" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Write-back of allowance for credit loss</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">(131,566</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">(123,665</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40D_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_z1d2w9EUzFm4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Balance at end of year</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">249,295</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">567,648</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

281598

249295

70719

99263

371299

131566

123665

249295

567648

5. PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250331_zENLdjebAOBj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_zgvhSEthzfl6" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">Current</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_407_eus-gaap--DepositsAssetsCurrent_iI_maPEAOAz7bQ_zIBafd6co3Ca" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">188,277</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">153,226</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidTaxes_iI_maPEAOAz7bQ_zZeODxOID7Q3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">GST receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,649</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,889</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz7bQ_zN3M9semUBkc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">253,416</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,052,482</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredOfferingCosts_iI_maPEAOAz7bQ_zZHy1t27oCX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Deferred initial public offering (“IPO’’) costs</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">715,630</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></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAz7bQ_zgMrYejSdbOi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Prepaid expenses and other current assets, net </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">1,193,972</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">1,249,597</td><td style="padding-bottom: 2.5pt; 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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: justify">Non- Current</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_40E_eus-gaap--PrepaidExpenseNoncurrent_iI_maPEAOAzFMU_zkY9OIjU8q45" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Prepaid expenses, non-current</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">1,811,250</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PrepaidExpenseAndOtherAssetsNoncurrent_iTI_mtPEAOAzFMU_zvIcoOPv0Twa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Prepaid expenses and other non current assets, net </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">-</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">1,811,250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Prepaid expenses primarily comprise advance payments for professional services, business consultancy services, insurance premiums and subscription fees. Amounts expected to be recognized as expense beyond one year are classified as non-current prepaid expenses. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SCHEDULE OF PREPAID EXPENSES AND OTHER CURRENT ASSETS, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49E_20250331_zENLdjebAOBj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20260331_zgvhSEthzfl6" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; text-align: justify">Current</td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_407_eus-gaap--DepositsAssetsCurrent_iI_maPEAOAz7bQ_zIBafd6co3Ca" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Deposits</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">188,277</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">153,226</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--PrepaidTaxes_iI_maPEAOAz7bQ_zZeODxOID7Q3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">GST receivables</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">36,649</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">43,889</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--PrepaidExpenseCurrent_iI_maPEAOAz7bQ_zN3M9semUBkc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Prepaid expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">253,416</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,052,482</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredOfferingCosts_iI_maPEAOAz7bQ_zZHy1t27oCX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Deferred initial public offering (“IPO’’) costs</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">715,630</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></tr> <tr id="xdx_402_eus-gaap--PrepaidExpenseAndOtherAssetsCurrent_iTI_mtPEAOAz7bQ_zgMrYejSdbOi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Prepaid expenses and other current assets, net </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">1,193,972</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">1,249,597</td><td style="padding-bottom: 2.5pt; 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></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-decoration: underline; text-align: justify">Non- Current</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_40E_eus-gaap--PrepaidExpenseNoncurrent_iI_maPEAOAzFMU_zkY9OIjU8q45" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Prepaid expenses, non-current</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">1,811,250</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--PrepaidExpenseAndOtherAssetsNoncurrent_iTI_mtPEAOAzFMU_zvIcoOPv0Twa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Prepaid expenses and other non current assets, net </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">-</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">1,811,250</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

188277

153226

36649

43889

253416

1052482

715630

1193972

1249597

1811250

<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 style="width: 0.5in">6.</td> <td>PLANT AND EQUIPMENT, NET</td></tr> </table> SCHEDULE OF PLANT AND EQUIPMENT, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250331_zSCz9F3Lwill" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260331_zAeTgwf3keF5" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zNqeZp8YQm96" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Computers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">224,302</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">266,920</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zwb0TGfgdXFg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Renovation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">170,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,559</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zC81iWeGAEXi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,270</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,392</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zM4Pn8jU8RWa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Furniture and fittings</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">45,398</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">39,282</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzU7b_zGi95AiK6qWh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,979</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">526,153</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzU7b_z3eKJPpFF3x5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; 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 style="border-bottom: Black 1pt solid; text-align: right">(378,233</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">(325,007</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzU7b_zksphmATdDlj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Plant and equipment, net</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">108,746</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">201,146</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Depreciation expenses were US$92,711, US$57,892 and US$21,290 for the years ended March 31, 2026, 2025 and 2024 respectively. Depreciation expense is included within depreciation and amortization in the consolidated statements of operations and comprehensive income (loss).

SCHEDULE OF PLANT AND EQUIPMENT, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20250331_zSCz9F3Lwill" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20260331_zAeTgwf3keF5" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40A_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ComputerEquipmentMember_zNqeZp8YQm96" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Computers</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">224,302</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">266,920</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__custom--RenovationMember_zwb0TGfgdXFg" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Renovation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">170,009</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">167,559</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zC81iWeGAEXi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Office equipment</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,270</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">52,392</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--PropertyPlantAndEquipmentGross_iI_hus-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zM4Pn8jU8RWa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Furniture and fittings</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">45,398</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">39,282</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPAENzU7b_zGi95AiK6qWh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Subtotal</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">486,979</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">526,153</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPAENzU7b_z3eKJPpFF3x5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; 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 style="border-bottom: Black 1pt solid; text-align: right">(378,233</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">(325,007</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPAENzU7b_zksphmATdDlj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Plant and equipment, net</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">108,746</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">201,146</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

224302

266920

170009

167559

47270

52392

45398

39282

486979

526153

378233

325007

108746

201146

92711

57892

21290

<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 style="text-align: justify; width: 0.5in">7.</td> <td style="text-align: justify">RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE</td></tr> </table> <p id="xdx_891_ecustom--ScheduleOfOperatingLeaseRightOfUseAssetsAndLeaseLiabilitiesTableTextBlock_gL3SOOLROUAAL-BBVOCZG_zKM932uFTatj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company’s operating lease right-of-use (“ROU”) assets relate primarily to office premises. The Company recognized operating lease ROU assets and lease liabilities as follows: SCHEDULE OF OPERATING LEASE ROU ASSETS AND LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250331_z50jU26tRdCe" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260331_z7o0kgNJHQ5" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_405_ecustom--OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization_iI_maOLROUzauy_zsFxRgKNoInh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Operating lease right-of-use assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">443,791</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,412,651</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--OperatingLeaseRightOfUseAssetAccumulatedAmortization_iNI_di_msOLROUzauy_zvoq5A7KR5W5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less : Accumulated amortization</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">(301,266</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">(440,451</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iTI_mtOLROUzauy_z8E20Zndb7mi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Right-of-use asset, net</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">142,525</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">972,200</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Amortization of operating lease right-of-use assets was US$453,608, US$214,842 and US$154,198 for the years ended March 31, 2026, 2025 and 2024 respectively. The amortization is included in depreciation and amortization in the consolidated statements of operations and comprehensive income (loss).</td></tr> </table> <div id="xdx_C01_gL3SOOLROUAAL-BBVOCZG_zErbAXgVrrL5"><table cellpadding="0" cellspacing="0" id="xdx_30C_134_zCQnEXwXQ8xd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in" summary="xdx: Disclosure - SCHEDULE OF OPERATING LEASE ROU ASSETS AND LEASE LIABILITIES (Details)"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250331_ziJ6fy9Se8ua" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260331_zNNfqsbTGMg3" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityAbstract_iB_z9KptF2VZceh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">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></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_maOLLz4Jn_zvDMyD88tdy3" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Current portion</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">144,747</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">462,490</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_maOLLz4Jn_ziMmWhUWd3Dd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current portion</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">981</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">527,751</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiability_i01TI_mtOLLz4Jn_zAlpew4U1Iwa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</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">145,728</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">990,241</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> </div> The following summarizes other supplemental information about the Company’s operating lease as of March 31, 2026: SCHEDULE OF OTHER SUPPLEMENTAL INFORMATION OF OPERATING LEASE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Weighted-average discount rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_c20260331_ztMiuV6vXvmf" style="width: 16%; text-align: right" title="Weighted average discount rate">5.01</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: 2.5pt">Weight-average remaining lease term (years)</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">2.12 years</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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 style="text-align: justify; width: 0.5in">7.</td> <td style="text-align: justify">RIGHT-OF-USE (“ROU”) ASSETS AND LEASE PAYABLE - CONTINUED</td></tr> </table> A summary of lease cost recognized in the Group’s consolidated statements of operations and comprehensive income and supplemental cash flow information related to operating leases is as follows: SCHEDULE OF LEASE COST RELATED TO OPERATING LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230401__20240331_zX9Msq9iWZzb" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240401__20250331_zypRR6yTglo4" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250401__20260331_zOhJXQsV77i6" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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 id="xdx_407_eus-gaap--ShortTermLeaseCost_zwEY8Dtq00cf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify; padding-bottom: 2.5pt">Short term lease expenses</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 16%; text-align: right">9,169</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseCost_zNgS7DsljLZe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: justify">Cash paid for operating leases</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">169,605</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">288,417</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">433,107</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Future lease payments under lease liabilities as of Mar 31, 2026 were as follows: SCHEDULE OF FUTURE LEASE PAYMENTS UNDER LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Year Ending March 31,</td><td> </td> <td colspan="2" id="xdx_49B_20260331_zzjiBc7I2knb" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzWnt_z1mb5FC7Qxl5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">501,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzWnt_zs0fYzEZfMw3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">466,623</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzWnt_zbS2qzq9lMp6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; 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">77,771</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzWnt_zMRYFgy1zyj6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Total operating lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,045,698</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zXTdSoTwZy42" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; 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">(55,457</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iI_zxYoX9WBVb4j" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Present value of operating lease liabilities</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">990,241</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

<p id="xdx_891_ecustom--ScheduleOfOperatingLeaseRightOfUseAssetsAndLeaseLiabilitiesTableTextBlock_gL3SOOLROUAAL-BBVOCZG_zKM932uFTatj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The Company’s operating lease right-of-use (“ROU”) assets relate primarily to office premises. The Company recognized operating lease ROU assets and lease liabilities as follows: SCHEDULE OF OPERATING LEASE ROU ASSETS AND LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250331_z50jU26tRdCe" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260331_z7o0kgNJHQ5" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_405_ecustom--OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization_iI_maOLROUzauy_zsFxRgKNoInh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Operating lease right-of-use assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">443,791</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,412,651</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_ecustom--OperatingLeaseRightOfUseAssetAccumulatedAmortization_iNI_di_msOLROUzauy_zvoq5A7KR5W5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less : Accumulated amortization</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">(301,266</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">(440,451</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--OperatingLeaseRightOfUseAsset_iTI_mtOLROUzauy_z8E20Zndb7mi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Right-of-use asset, net</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">142,525</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">972,200</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" id="xdx_30C_134_zCQnEXwXQ8xd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in" summary="xdx: Disclosure - SCHEDULE OF OPERATING LEASE ROU ASSETS AND LEASE LIABILITIES (Details)"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20250331_ziJ6fy9Se8ua" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20260331_zNNfqsbTGMg3" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiabilityAbstract_iB_z9KptF2VZceh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">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></tr> <tr id="xdx_404_eus-gaap--OperatingLeaseLiabilityCurrent_i01I_maOLLz4Jn_zvDMyD88tdy3" style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify">Current portion</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">144,747</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">462,490</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--OperatingLeaseLiabilityNoncurrent_i01I_maOLLz4Jn_ziMmWhUWd3Dd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">Non-current portion</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">981</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">527,751</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--OperatingLeaseLiability_i01TI_mtOLLz4Jn_zAlpew4U1Iwa" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</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">145,728</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">990,241</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 443791 1412651 301266 440451

142525

972200

453608

214842

154198

144747

462490

981

527751

145728

990241

The following summarizes other supplemental information about the Company’s operating lease as of March 31, 2026: SCHEDULE OF OTHER SUPPLEMENTAL INFORMATION OF OPERATING LEASE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">Weighted-average discount rate</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pid_dp_c20260331_ztMiuV6vXvmf" style="width: 16%; text-align: right" title="Weighted average discount rate">5.01</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: 2.5pt">Weight-average remaining lease term (years)</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">2.12 years</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

0.0501

P2Y1M13D

A summary of lease cost recognized in the Group’s consolidated statements of operations and comprehensive income and supplemental cash flow information related to operating leases is as follows: SCHEDULE OF LEASE COST RELATED TO OPERATING LEASES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230401__20240331_zX9Msq9iWZzb" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_497_20240401__20250331_zypRR6yTglo4" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20250401__20260331_zOhJXQsV77i6" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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 id="xdx_407_eus-gaap--ShortTermLeaseCost_zwEY8Dtq00cf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: justify; padding-bottom: 2.5pt">Short term lease expenses</td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 16%; text-align: right">-</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 2.5pt"> </td> <td style="padding-bottom: 2.5pt; width: 1%; text-align: left"> </td><td style="padding-bottom: 2.5pt; width: 16%; text-align: right">9,169</td><td style="width: 1%; padding-bottom: 2.5pt; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LeaseCost_zNgS7DsljLZe" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-align: justify">Cash paid for operating leases</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">169,605</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">288,417</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">433,107</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

9169

169605

288417

433107

Future lease payments under lease liabilities as of Mar 31, 2026 were as follows: SCHEDULE OF FUTURE LEASE PAYMENTS UNDER LEASE LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="vertical-align: bottom"> <td style="text-align: justify">Year Ending March 31,</td><td> </td> <td colspan="2" id="xdx_49B_20260331_zzjiBc7I2knb" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_maLOLLPzWnt_z1mb5FC7Qxl5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">501,304</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_maLOLLPzWnt_zs0fYzEZfMw3" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">466,623</td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_maLOLLPzWnt_zbS2qzq9lMp6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; 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">77,771</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_mtLOLLPzWnt_zMRYFgy1zyj6" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify">Total operating lease payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,045,698</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_di_zXTdSoTwZy42" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; 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">(55,457</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iI_zxYoX9WBVb4j" style="vertical-align: bottom; background-color: White"> <td style="font-weight: bold; text-align: justify; padding-bottom: 2.5pt">Present value of operating lease liabilities</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">990,241</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

501304

466623

77771

1045698

55457

990241

<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 style="text-align: justify; width: 0.5in">8.</td> <td style="text-align: justify">GOODWILL</td></tr> </table> SCHEDULE OF GOODWILL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: justify"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240401__20250331_zFv3dSCHsgbe" style="border-bottom: Black 1pt solid; display: none; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250401__20260331_zOlIwpaIhCKi" style="border-bottom: Black 1pt solid; display: none; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40A_eus-gaap--Goodwill_iS_ziaEYTYh5hNe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; width: 60%">Beginning balance</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 16%">-</td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 16%">-</td><td style="text-align: left; width: 1%"> </td><td> </td> <td></td></tr> <tr id="xdx_400_eus-gaap--GoodwillAcquiredDuringPeriod_zmfGStTC6rY7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Goodwill recognized from business acquisitions</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">2,900,729</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Goodwill_iE_z1sXyA6kXqck" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Ending balance</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">-</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">2,900,729</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> The goodwill recognized during the year ended March 31, 2026 arose from the business acquisitions described in Note 3. The goodwill primarily represents expected synergies, the assembled workforce and anticipated post-acquisition integration benefits. Goodwill is not amortized but is tested for impairment at least annually, or more frequently if events or changes in circumstances indicate that the carrying amount may be impaired. Management performed its annual impairment assessment as of March 31, 2026 and concluded that no impairment loss was recognized.

SCHEDULE OF GOODWILL <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="display: none; text-align: justify"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240401__20250331_zFv3dSCHsgbe" style="border-bottom: Black 1pt solid; display: none; text-align: center">2025</td><td style="display: none; padding-bottom: 1pt"> </td><td style="display: none; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250401__20260331_zOlIwpaIhCKi" style="border-bottom: Black 1pt solid; display: none; text-align: center">2026</td><td style="display: none; padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40A_eus-gaap--Goodwill_iS_ziaEYTYh5hNe" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; width: 60%">Beginning balance</td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 16%">-</td><td style="text-align: left; width: 1%"> </td><td style="width: 2%"> </td> <td style="text-align: left; width: 1%"> </td><td style="text-align: right; width: 16%">-</td><td style="text-align: left; width: 1%"> </td><td> </td> <td></td></tr> <tr id="xdx_400_eus-gaap--GoodwillAcquiredDuringPeriod_zmfGStTC6rY7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Goodwill recognized from business acquisitions</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">2,900,729</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--Goodwill_iE_z1sXyA6kXqck" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Ending balance</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">-</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">2,900,729</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2900729

<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 style="text-align: justify; width: 0.5in">9.</td> <td style="text-align: justify">INTANGIBLE ASSETS, NET</td></tr> </table> SCHEDULE OF INTANGIBLE ASSETS, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250331_zKHYSmBAcS08" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260331_zDTomPUIuhRj" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANzLDJ_zcP8O1oR6rO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Customer relationship intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,305,324</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_msFLIANzLDJ_zPjda41M4lP4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: Accumulated amortization</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">(52,197</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzLDJ_zGKW6rsEOtB6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</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">-</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">1,253,127</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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 style="text-align: justify; width: 0.5in">9.</td> <td style="text-align: justify">INTANGIBLE ASSETS, NET – continued </td></tr> </table> Amortization expense was US$52,197 for the year ended March 31, 2026 and is included in depreciation and amortization in the consolidated statements of operations and comprehensive income (loss). During the year ended March 31, 2026, the Company recognized customer relationship intangible assets of US$<span id="xdx_904_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20250401__20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--PJMarineSingaporePteLtdMember_zlh6sTmJ6C06" title="Finitelived intangible assets">737,757, US$<span id="xdx_906_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20250401__20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--PeijunMarineConsultantCoLtdMember_z2tWfhO1BUai" title="Finitelived intangible assets">412,655, and US$<span id="xdx_900_eus-gaap--FinitelivedIntangibleAssetsAcquired1_c20250401__20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__custom--PJMarineShanghaiCoLtdMember_zPY6WgxYtDn8" title="Finitelived intangible assets">154,912 in connection with the business acquisitions described in Note 3. These customer relationship intangible assets were recognized at their respective acquisition-date fair values and are being amortized on a straight-line basis over their estimated useful lives of <span id="xdx_903_eus-gaap--FiniteLivedIntangibleAssetUsefulLife_iI_dc_c20260331__us-gaap--FiniteLivedIntangibleAssetsByMajorClassAxis__us-gaap--CustomerRelationshipsMember_zyRNST0X1Rwg" title="Intangible assets finite useful lives">five years. <p id="xdx_898_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zRXHQtCYMg22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The estimated future amortization expense for finite-lived intangible assets as of March 31, 2026 is as follows: SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE <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="text-align: justify">Year Ending March 31,</td><td> </td> <td colspan="2" id="xdx_49F_20260331_zlh8RxAcpRh7" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFMPFLzuey_zZq2wqmHgJXk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">261,065</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFMPFLzuey_zEqUVLYzVXh2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261,065</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFMPFLzuey_zvDCE2y4KQu3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261,065</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFMPFLzuey_zDBOWQIwOJpd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261,065</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour_iI_maFMPFLzuey_zVwMcLKYiLy6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">2031 and thereafter</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">208,867</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFMPFLzuey_zrxtBKNg99kl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</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">1,253,127</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Management evaluates finite-lived intangible assets for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. No impairment loss was recognized during the year ended March 31, 2026.

SCHEDULE OF INTANGIBLE ASSETS, NET <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20250331_zKHYSmBAcS08" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20260331_zDTomPUIuhRj" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_408_eus-gaap--FiniteLivedIntangibleAssetsGross_iI_maFLIANzLDJ_zcP8O1oR6rO9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Customer relationship intangible assets</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">1,305,324</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAccumulatedAmortization_iNI_di_msFLIANzLDJ_zPjda41M4lP4" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Less: Accumulated amortization</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">(52,197</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFLIANzLDJ_zGKW6rsEOtB6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</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">-</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">1,253,127</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1305324

52197

1253127

52197

737757

412655

154912

P5Y

<p id="xdx_898_eus-gaap--ScheduleofFiniteLivedIntangibleAssetsFutureAmortizationExpenseTableTextBlock_zRXHQtCYMg22" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify">The estimated future amortization expense for finite-lived intangible assets as of March 31, 2026 is as follows: SCHEDULE OF ESTIMATED FUTURE AMORTIZATION EXPENSE <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="text-align: justify">Year Ending March 31,</td><td> </td> <td colspan="2" id="xdx_49F_20260331_zlh8RxAcpRh7" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center"> </td><td> </td></tr> <tr id="xdx_407_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths_iI_maFMPFLzuey_zZq2wqmHgJXk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">2027</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">261,065</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo_iI_maFMPFLzuey_zEqUVLYzVXh2" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2028</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261,065</td><td style="text-align: left"> </td></tr> <tr id="xdx_404_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearThree_iI_maFMPFLzuey_zvDCE2y4KQu3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">2029</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261,065</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--FiniteLivedIntangibleAssetsAmortizationExpenseYearFour_iI_maFMPFLzuey_zDBOWQIwOJpd" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">2030</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">261,065</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_ecustom--FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFour_iI_maFMPFLzuey_zVwMcLKYiLy6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 1pt">2031 and thereafter</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">208,867</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--FiniteLivedIntangibleAssetsNet_iTI_mtFMPFLzuey_zrxtBKNg99kl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Total</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">1,253,127</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

261065

208867

1253127

<p id="xdx_803_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zyk8AXwiEaSb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"> <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 style="text-align: justify; width: 0.5in">10.</td> <td style="text-align: justify">ACCRUALS AND OTHER CURRENT LIABILITIES</td></tr> </table> SCHEDULE OF ACCRUALS AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250331_zyb8L4qRena4" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260331_zHlUZm2Ka9W4" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40F_eus-gaap--AccruedEmployeeBenefitsCurrent_iI_maALCzpOq_zZsks8XfWCwa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Accrued bonus and salaries</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,956,825</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,798,560</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzpOq_zkrGdSUbkEr5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Other accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538,078</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">526,178</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AdvanceFromCustomerCurrent_iI_maALCzpOq_zlHiqwebA8F8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Advance from customer</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378,424</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_401_ecustom--DeferredConsiderationPayable_iI_maALCzpOq_zmv6waynnR03" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Deferred consideration payable – business acquisitions</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">1,818,031</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccruedLiabilitiesAndOtherLiabilitiesCurrent_iTI_mtALCzpOq_zQYef6pyde9g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Accruals and other current liabilities </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">3,873,327</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">6,142,769</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Deferred consideration payable represents the contractual deferred cash consideration arising from the business acquisitions described in Note 3. The liability was initially recognized at its acquisition-date fair value and is subsequently measured at amortized cost using the effective interest method. Accordingly, the carrying amount is accreted over time to its contractual settlement amount, with the unwinding of the discount recognized as interest expense in the consolidated statements of operations. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SCHEDULE OF ACCRUALS AND OTHER CURRENT LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250331_zyb8L4qRena4" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49C_20260331_zHlUZm2Ka9W4" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40F_eus-gaap--AccruedEmployeeBenefitsCurrent_iI_maALCzpOq_zZsks8XfWCwa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Accrued bonus and salaries</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">2,956,825</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">3,798,560</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzpOq_zkrGdSUbkEr5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Other accruals</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">538,078</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">526,178</td><td style="text-align: left"> </td></tr> <tr id="xdx_40C_ecustom--AdvanceFromCustomerCurrent_iI_maALCzpOq_zlHiqwebA8F8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Advance from customer</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">378,424</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_401_ecustom--DeferredConsiderationPayable_iI_maALCzpOq_zmv6waynnR03" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Deferred consideration payable – business acquisitions</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">1,818,031</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_ecustom--AccruedLiabilitiesAndOtherLiabilitiesCurrent_iTI_mtALCzpOq_zQYef6pyde9g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Accruals and other current liabilities </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">3,873,327</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">6,142,769</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

2956825

3798560

538078

526178

378424 1818031 3873327 6142769 <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 style="text-align: justify; width: 0.5in">11.</td> <td style="text-align: justify">DEFERRED TAX LIABILITIES </td></tr> </table> SCHEDULE OF DEFERRED TAX LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250331_zAEALDhBPkxg" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260331_zjsvQIt6fNMi" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilities_iI_zs7xOx6iWfz3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Deferred tax liabilities</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">1,325</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">225,810</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Following are the movements in the Company’s deferred tax liabilities: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <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="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">As of April 1, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--DeferredTaxLiabilities_iS_c20240401__20250331_zl2iEEBMMVZ2" style="width: 16%; text-align: right" title="Deferred tax liabilities, balances">1,665</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">Recognized in the consolidated statements of income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--DeferredTaxLiabilitiesRecognizedInStatementsOfIncome_c20240401__20250331_zG3fNVYGjVz4" style="border-bottom: Black 1pt solid; text-align: right" title="Recognized in the consolidated statements of income">(340</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">As of March 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxLiabilities_iS_c20250401__20260331_z5HiIBgyzVki" style="text-align: right" title="Deferred tax liabilities, balances">1,325</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Recognized in the consolidated statements of income</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--DeferredTaxLiabilitiesRecognizedInStatementsOfIncome_c20250401__20260331_zT9f3wzgVYw2" style="text-align: right" title="Recognized in the consolidated statements of income">1,104</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Deferred tax liabilities recognized on customer relationship intangible assets acquired in business acquisitions (Note 3)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--DeferredTaxLiabilitiesIdentifiableIntangibleAssetsAcquired_c20250401__20260331_zmZi89jcTXO5" style="text-align: right" title="Deferred tax liabilities recognized on customer relationship intangible assets acquired in business acquisitions (Note 3)">232,235</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Reversal arising from amortization of acquired customer relationship intangible assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxLiabilitiesReversalAmortizationOfAcquiredCustomerRelationshipIntangibleAssets_c20250401__20260331_zXowx3nIxp19" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal arising from amortization of acquired customer relationship intangible assets">(8,854</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">As of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredTaxLiabilities_iE_c20250401__20260331_zOUBrjZ2qsw" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred tax liabilities, balances">225,810</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> SCHEDULE OF DEFERRED TAX LIABILITIES <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20250331_zAEALDhBPkxg" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20260331_zjsvQIt6fNMi" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">As of March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 60%; text-align: justify"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--DeferredTaxLiabilities_iI_zs7xOx6iWfz3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Deferred tax liabilities</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">1,325</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">225,810</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1325

225810

Following are the movements in the Company’s deferred tax liabilities: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES <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="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 80%; text-align: justify">As of April 1, 2024</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98F_eus-gaap--DeferredTaxLiabilities_iS_c20240401__20250331_zl2iEEBMMVZ2" style="width: 16%; text-align: right" title="Deferred tax liabilities, balances">1,665</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">Recognized in the consolidated statements of income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_ecustom--DeferredTaxLiabilitiesRecognizedInStatementsOfIncome_c20240401__20250331_zG3fNVYGjVz4" style="border-bottom: Black 1pt solid; text-align: right" title="Recognized in the consolidated statements of income">(340</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">As of March 31, 2025</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--DeferredTaxLiabilities_iS_c20250401__20260331_z5HiIBgyzVki" style="text-align: right" title="Deferred tax liabilities, balances">1,325</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Recognized in the consolidated statements of income</td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_ecustom--DeferredTaxLiabilitiesRecognizedInStatementsOfIncome_c20250401__20260331_zT9f3wzgVYw2" style="text-align: right" title="Recognized in the consolidated statements of income">1,104</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify">Deferred tax liabilities recognized on customer relationship intangible assets acquired in business acquisitions (Note 3)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_ecustom--DeferredTaxLiabilitiesIdentifiableIntangibleAssetsAcquired_c20250401__20260331_zmZi89jcTXO5" style="text-align: right" title="Deferred tax liabilities recognized on customer relationship intangible assets acquired in business acquisitions (Note 3)">232,235</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 1pt">Reversal arising from amortization of acquired customer relationship intangible assets</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_98F_ecustom--DeferredTaxLiabilitiesReversalAmortizationOfAcquiredCustomerRelationshipIntangibleAssets_c20250401__20260331_zXowx3nIxp19" style="border-bottom: Black 1pt solid; text-align: right" title="Reversal arising from amortization of acquired customer relationship intangible assets">(8,854</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">As of March 31, 2026</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_988_eus-gaap--DeferredTaxLiabilities_iE_c20250401__20260331_zOUBrjZ2qsw" style="border-bottom: Black 2.5pt double; text-align: right" title="Deferred tax liabilities, balances">225,810</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1665

-340

1325

1104 232235 -8854

225810

<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 style="text-align: justify; width: 0.5in">12.</td> <td style="text-align: justify">SHAREHOLDERS’ EQUITY </td></tr> </table> Ordinary Shares Vantage Corp was established under the laws of Cayman Islands on April 2, 2024. The original authorized share capital of the Company was US$50,000 divided into 25,000,000 Class A Ordinary Shares and 25,000,000 Class B Ordinary Shares, par value US$0.001 per share. As of March 31, 2025, the Company had 7,633,620 Class A ordinary shares issued and outstanding. During the year ended March 31, 2026, the Company issued an additional <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20250401__20260331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember__us-gaap--SubsidiarySaleOfStockAxis__us-gaap--IPOMember_ziNfamK6KEM5" title="Additional shares issued">3,737,500 Class A ordinary shares in connection with its initial public offering, including the exercise of the underwriters’ over-allotment option. As of March 31, 2026, the Company had 11,371,120 Class A ordinary shares issued, of which 10,616,741 were outstanding. As of March 31, 2025 and 2026, the Company had 20,366,380 Class B ordinary shares issued and outstanding. Share Repurchase Program On November 5, 2025, the Company’s Board of Directors authorized a share repurchase program of up to US$<span id="xdx_901_esrt--StockRepurchaseProgramAuthorizedAmount1_iI_pn5n6_c20251105__srt--TitleOfIndividualAxis__custom--BoardOfDirectorsMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zffQ1bAoXOg2" title="Share repurchase program, authorized, amount">1.0 million of the Company’s Class A ordinary shares. The share repurchase program is effective through December 31, 2026. Treasury Shares During the year ended March 31, 2026, the Company repurchased <span id="xdx_907_eus-gaap--StockRepurchasedDuringPeriodShares_c20250401__20260331__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zNHWLnutqX3k" title="Stock repurchased during period, shares">754,379 Class A ordinary shares under the share repurchase program for an aggregate purchase price of US$749,424, including brokerage commissions and other transaction costs. The repurchased shares are held as treasury shares and are presented as a deduction from shareholders’ equity in the consolidated balance sheets. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

50000

25000000

0.001

7633620

3737500

11371120

10616741

20366380

1000000.0

754379

749424

<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 style="text-align: justify; width: 0.5in">13.</td> <td style="text-align: justify">REVENUE BY SERVICE</td></tr> </table> Revenue from ship broking services consisted of the following: SCHEDULE OF REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230401__20240331_zqjVvq4FGsA" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240401__20250331_zPUozGbkB8r5" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20260331_zYhvw9ak6YDj" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zxPcyWlYrumb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Revenue from ship broking services</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">19,999,294</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">18,659,141</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">17,837,611</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Revenue is disaggregated by the timing of revenue recognition as follows: SCHEDULE OF DISAGGREGATION OF REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230401__20240331_zwMrcln4rLP1" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240401__20250331_zmu8WAG9ho34" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20260331_zqf5f3O9Pjhd" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z1xtngBu7LM7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Point in time</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">18,527,513</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">15,941,178</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">14,872,295</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zOaSlj2tsXz8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Over time</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">1,471,781</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">2,717,963</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">2,965,316</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zfAxdDb9MKGd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Revenue from ship broking services</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">19,999,294</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">18,659,141</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">17,837,611</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Revenue is further disaggregated by commission type as follows: SCHEDULE OF REVENUE DISAGGREGATED BY COMMISSION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230401__20240331_zVv22ZOSWtk6" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240401__20250331_zzu4nMbn7Mtj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20260331_zuCJjst27f96" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--FreightCommissionMember_z7Mkqh0ZPJEf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Freight commission</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">16,489,917</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">13,740,506</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">13,491,801</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TimeCharterCommissionMember_zRYI3t3rjaJ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Time charter (hire) commission</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,471,781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,717,963</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,965,316</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DemurrageCommissionMember_zK6iGUzp05Xc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Demurrage commission</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628,297</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,430,714</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,226,694</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviationAndOtherCommissionMember_zGQsvLiCIul4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deviation and other commission</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">409,299</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">319,958</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">153,800</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SaleOfVesselCommissionMember_zVifMW3Y8yB4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Sale of vessel commission</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">450,000</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 style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zYa0rvOwD6J4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</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">19,999,294</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">18,659,141</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">17,837,611</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

Revenue from ship broking services consisted of the following: SCHEDULE OF REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230401__20240331_zqjVvq4FGsA" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240401__20250331_zPUozGbkB8r5" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20260331_zYhvw9ak6YDj" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="width: 46%; text-align: justify"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zxPcyWlYrumb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; padding-bottom: 2.5pt">Revenue from ship broking services</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">19,999,294</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">18,659,141</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">17,837,611</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

19999294

18659141

17837611

Revenue is disaggregated by the timing of revenue recognition as follows: SCHEDULE OF DISAGGREGATION OF REVENUE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230401__20240331_zwMrcln4rLP1" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240401__20250331_zmu8WAG9ho34" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20260331_zqf5f3O9Pjhd" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredAtPointInTimeMember_z1xtngBu7LM7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Point in time</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">18,527,513</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">15,941,178</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">14,872,295</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hus-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zOaSlj2tsXz8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Over time</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">1,471,781</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">2,717,963</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">2,965,316</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zfAxdDb9MKGd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt">Revenue from ship broking services</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">19,999,294</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">18,659,141</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">17,837,611</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

18527513

15941178

14872295

1471781

2717963

2965316

19999294

18659141

17837611

Revenue is further disaggregated by commission type as follows: SCHEDULE OF REVENUE DISAGGREGATED BY COMMISSION <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_494_20230401__20240331_zVv22ZOSWtk6" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_498_20240401__20250331_zzu4nMbn7Mtj" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20250401__20260331_zuCJjst27f96" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--FreightCommissionMember_z7Mkqh0ZPJEf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left">Freight commission</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">16,489,917</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">13,740,506</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">13,491,801</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--TimeCharterCommissionMember_zRYI3t3rjaJ8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Time charter (hire) commission</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,471,781</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,717,963</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,965,316</td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DemurrageCommissionMember_zK6iGUzp05Xc" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Demurrage commission</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,628,297</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,430,714</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,226,694</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--DeviationAndOtherCommissionMember_zGQsvLiCIul4" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Deviation and other commission</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">409,299</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">319,958</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">153,800</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_hsrt--ProductOrServiceAxis__custom--SaleOfVesselCommissionMember_zVifMW3Y8yB4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Sale of vessel commission</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">450,000</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 style="border-bottom: Black 1pt solid; text-align: right">-</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zYa0rvOwD6J4" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt">Total</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">19,999,294</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">18,659,141</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">17,837,611</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

16489917

13740506

13491801

1471781

2717963

2965316

1628297

1430714

1226694

409299

319958

153800

450000

19999294

18659141

17837611

<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 style="text-align: justify; width: 0.5in">14.</td> <td style="text-align: justify">INCOME TAX </td></tr> </table> The Company is subject to income taxes in the jurisdictions in which it operates, as follows: Cayman Islands Vantage Corp is incorporated in the Cayman Islands. Under the current laws of the Cayman Islands, the Company is not subject to income, corporate, capital gains or withholding taxes. Accordingly, no provision for Cayman Islands income taxes has been made in the accompanying consolidated financial statements. British Virgin Islands (“BVI”) Vantage (BVI) Corporation is incorporated in the British Virgin Islands. Under the current laws of the British Virgin Islands, the entity is not subject to income, corporate, capital gains or withholding taxes. Accordingly, no provision for British Virgin Islands income taxes has been made in the accompanying consolidated financial statements. Singapore The Company’s Singapore subsidiaries are subject to Singapore corporate income tax at the prevailing statutory rate of <span id="xdx_900_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--SG_zswawcp9ixE6" title="Federal corporate tax rate">17% on taxable income. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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 style="text-align: justify; width: 0.5in">14.</td> <td style="text-align: justify">INCOME TAX - CONTINUED</td></tr> </table> United Arab Emirates (“UAE”) Effective June 1, 2023, the UAE introduced a federal corporate income tax at a statutory rate of <span id="xdx_900_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20230601__20230601__srt--StatementGeographicalAxis__country--AE_zGNLc9OO8n7j" title="Federal corporate tax rate">9% on taxable income exceeding AED<span id="xdx_900_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_uAED_c20230601__20230601__srt--StatementGeographicalAxis__country--AE_zf7kJpl3QmVb" title="Net profits">375,000. During the year ended March 31, 2026, the Company’s UAE subsidiary did not incur taxable income in excess of the applicable threshold. Accordingly, no UAE corporate income tax provision was recognized. Hong Kong The Company’s Hong Kong subsidiary is subject to Hong Kong Profits Tax under the Inland Revenue Ordinance. No Hong Kong Profits Tax provision was recognized for the year ended March 31, 2026 as the subsidiary’s profits were derived from sources outside Hong Kong and, accordingly, were not subject to Hong Kong Profits Tax. People’s Republic of China (“PRC”) The Company’s PRC subsidiary is subject to Enterprise Income Tax (“EIT”) in accordance with the Enterprise Income Tax Law of the People’s Republic of China. The statutory EIT rate applicable to the Company’s PRC subsidiary is <span id="xdx_900_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20230601__20230601__srt--StatementGeographicalAxis__country--CN_z1FduKCjesEi" title="Federal corporate tax rate">25%. Deferred income tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred income tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the periods in which the temporary differences are expected to reverse. The effect of changes in tax laws or tax rates is recognized in the consolidated statements of income in the period that includes the enactment date. The Company recognizes liabilities for uncertain tax positions when it is more likely than not that a tax position will not be sustained upon examination by the relevant tax authorities based on the technical merits of the position. Interest and penalties, if any, related to uncertain tax positions are recognized as a component of income tax expense. The components of income tax expense were as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230401__20240331_zwmA4xzvIF8i" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240401__20250331_zTu02XIWm9D" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250401__20260331_zRiOsQmlxmTj" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--CurrentIncomeTaxExpenseBenefit_maITEBzsrf_zz0zebTMGsOg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Current income tax</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,051,644</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">853,048</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">193,117</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OverProvisionOfCurrentTaxationInRespectOfPriorYear_maITEBzsrf_z7DMgiVHYsCe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Over provision of current taxation in respect of prior year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,508</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,782</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,659</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredIncomeTaxExpenseBenefit_maITEBzsrf_zROSKXDRbusb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; 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">(625</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">(340</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">(7,750</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzsrf_zLJhacA2HWX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Income tax expense</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">1,045,511</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">825,926</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">155,708</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <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 style="text-align: justify; width: 0.5in">14.</td> <td style="text-align: justify">INCOME TAX - CONTINUED</td></tr> </table> The reconciliation of total income tax rate to the effective income tax rate based on income before income taxes for the years ended Mar 31, 2024, 2025 and 2026 are as follows: SCHEDULE OF RECONCILIATION OF TOTAL INCOME TAX RATE TO THE EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230401__20240331_zGegKfEhWLtl" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240401__20250331_zqcmAVNkBUD6" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20260331_zxIcHpR70Yz3" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zGptRf77UJCh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Income before tax expenses:</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">5,999,995</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">4,668,811</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">(1,160,962</td><td style="width: 1%; padding-bottom: 1pt; 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 id="xdx_402_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzxuU_maITEBzc36_zIhjRLsp9Uu7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax at Singapore statutory rate of 17%*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,019,999</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">793,698</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(197,364</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzxuU_maITEBzc36_zNL9AHDQkkV8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax effect of expenses that are not deductible in determining taxable profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,953</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,479</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--IncomeTaxReconciliationNontaxableIncome_maITEBzxuU_maITEBzc36_z5JAj1OtVG39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-taxable income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,850</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,389</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,560</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--IncomeTaxReconciliationCurrentYearLossDeferredTaxAssetIsNotRecognized_maITEBzxuU_maITEBzc36_zeQb6C87bXQj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current year loss for which deferred tax asset is not recognized</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,080</td><td style="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 id="xdx_401_eus-gaap--IncomeTaxReconciliationTaxExemptIncome_iN_di_msITEBzxuU_msITEBzc36_zyyZUyYuV0o6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax exemption</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,959</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,052</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,908</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_maITEBzxuU_maITEBzc36_z4ZzxQU8ABoa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Overprovision current taxation in respect of prior year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,508</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,782</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,659</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzxuU_maITEBzc36_ztBiaZretGIj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Overprovision of deferred tax assets for prior year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(102</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_404_ecustom--EffectOfDifferentTaxRatesInOtherJurisdiction_maITEBzc36_zdkYSVId4Iq8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of Different Tax Rates in Other Jurisdiction</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">43,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">307,574</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_maITEBzxuU_maITEBzc36_zUJeim1xHSaf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Others</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,862</td><td style="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> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--IncomeTaxReconciliationReversalArisingFromAmortizationOfAcquiredCustomerRelationshipIntangibleAssets_maITEBzc36_zvh2tEqto2Qa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Reversal arising from amortization of acquired customer relationship intangible 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">-</td><td style="padding-bottom: 1pt; 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">-</td><td style="padding-bottom: 1pt; font-weight: bold; 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">(8,854</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzc36_zHo0saXW7f11" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Income tax expense</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">1,045,511</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">825,926</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">155,708</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify">The Company has reconciled to the Singapore statutory tax rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFJFQ09OQ0lMSUFUSU9OIE9GIFRPVEFMIElOQ09NRSBUQVggUkFURSBUTyBUSEUgRUZGRUNUSVZFIElOQ09NRSBUQVggUkFURSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--SG_zZOXLKRuplK3" title="Federal corporate tax rate">17% to reflect the location of the Company’s operating activities and rather than reconciling to Cayman Islands statutory tax rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFJFQ09OQ0lMSUFUSU9OIE9GIFRPVEFMIElOQ09NRSBUQVggUkFURSBUTyBUSEUgRUZGRUNUSVZFIElOQ09NRSBUQVggUkFURSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--KY_z7SlIkrp3whk" title="Federal corporate tax rate">0%.</td> </tr></table> As of March 31, 2026, the Company had no unrecognized tax benefits. The Company did not recognize any interest or penalties related to uncertain tax positions for the years ended March 31, 2024, 2025 and 2026. The Company does not expect its unrecognized tax positions to change materially within the next twelve months.

0.17

0.09

375000

0.25

The components of income tax expense were as follows: SCHEDULE OF COMPONENTS OF INCOME TAX EXPENSE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20230401__20240331_zwmA4xzvIF8i" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20240401__20250331_zTu02XIWm9D" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250401__20260331_zRiOsQmlxmTj" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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="2"> </td><td> </td></tr> <tr id="xdx_400_eus-gaap--CurrentIncomeTaxExpenseBenefit_maITEBzsrf_zz0zebTMGsOg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: justify">Current income tax</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">1,051,644</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">853,048</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">193,117</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_404_ecustom--OverProvisionOfCurrentTaxationInRespectOfPriorYear_maITEBzsrf_z7DMgiVHYsCe" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify">Over provision of current taxation in respect of prior year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,508</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,782</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,659</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--DeferredIncomeTaxExpenseBenefit_maITEBzsrf_zROSKXDRbusb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify; 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">(625</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">(340</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">(7,750</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzsrf_zLJhacA2HWX7" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">Income tax expense</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">1,045,511</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">825,926</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">155,708</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

1051644

853048

193117

-5508 -26782 -29659

-625

-340

-7750

1045511

825926

155708

The reconciliation of total income tax rate to the effective income tax rate based on income before income taxes for the years ended Mar 31, 2024, 2025 and 2026 are as follows: SCHEDULE OF RECONCILIATION OF TOTAL INCOME TAX RATE TO THE EFFECTIVE INCOME TAX RATE <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_492_20230401__20240331_zGegKfEhWLtl" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49D_20240401__20250331_zqcmAVNkBUD6" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20250401__20260331_zxIcHpR70Yz3" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40C_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_zGptRf77UJCh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%; text-align: left; padding-bottom: 1pt">Income before tax expenses:</td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">5,999,995</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">4,668,811</td><td style="width: 1%; padding-bottom: 1pt; text-align: left"> </td><td style="width: 2%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 14%; text-align: right">(1,160,962</td><td style="width: 1%; padding-bottom: 1pt; 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 id="xdx_402_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBzxuU_maITEBzc36_zIhjRLsp9Uu7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax at Singapore statutory rate of 17%*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,019,999</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">793,698</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(197,364</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationNondeductibleExpense_maITEBzxuU_maITEBzc36_zNL9AHDQkkV8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Tax effect of expenses that are not deductible in determining taxable profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">26,989</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">51,953</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">140,479</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_ecustom--IncomeTaxReconciliationNontaxableIncome_maITEBzxuU_maITEBzc36_z5JAj1OtVG39" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Non-taxable income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,850</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(21,389</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(19,560</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--IncomeTaxReconciliationCurrentYearLossDeferredTaxAssetIsNotRecognized_maITEBzxuU_maITEBzc36_zeQb6C87bXQj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Current year loss for which deferred tax asset is not recognized</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">19,080</td><td style="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 id="xdx_401_eus-gaap--IncomeTaxReconciliationTaxExemptIncome_iN_di_msITEBzxuU_msITEBzc36_zyyZUyYuV0o6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Tax exemption</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(12,959</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(15,052</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(36,908</td><td style="text-align: left">)</td></tr> <tr id="xdx_401_eus-gaap--IncomeTaxReconciliationPriorYearIncomeTaxes_maITEBzxuU_maITEBzc36_z4ZzxQU8ABoa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Overprovision current taxation in respect of prior year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(5,508</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(26,782</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(29,659</td><td style="text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBzxuU_maITEBzc36_ztBiaZretGIj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Overprovision of deferred tax assets for prior year</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(102</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_404_ecustom--EffectOfDifferentTaxRatesInOtherJurisdiction_maITEBzc36_zdkYSVId4Iq8" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of Different Tax Rates in Other Jurisdiction</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">43,498</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">307,574</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationOtherReconcilingItems_maITEBzxuU_maITEBzc36_zUJeim1xHSaf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td>Others</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,862</td><td style="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> </td> <td style="text-align: left"> </td><td style="text-align: right">-</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--IncomeTaxReconciliationReversalArisingFromAmortizationOfAcquiredCustomerRelationshipIntangibleAssets_maITEBzc36_zvh2tEqto2Qa" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt">Reversal arising from amortization of acquired customer relationship intangible 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">-</td><td style="padding-bottom: 1pt; 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">-</td><td style="padding-bottom: 1pt; font-weight: bold; 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">(8,854</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_407_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzc36_zHo0saXW7f11" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 2.5pt">Income tax expense</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">1,045,511</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">825,926</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">155,708</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 35pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify">The Company has reconciled to the Singapore statutory tax rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFJFQ09OQ0lMSUFUSU9OIE9GIFRPVEFMIElOQ09NRSBUQVggUkFURSBUTyBUSEUgRUZGRUNUSVZFIElOQ09NRSBUQVggUkFURSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_909_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--SG_zZOXLKRuplK3" title="Federal corporate tax rate">17% to reflect the location of the Company’s operating activities and rather than reconciling to Cayman Islands statutory tax rate of <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFNDSEVEVUxFIE9GIFJFQ09OQ0lMSUFUSU9OIE9GIFRPVEFMIElOQ09NRSBUQVggUkFURSBUTyBUSEUgRUZGRUNUSVZFIElOQ09NRSBUQVggUkFURSAoRGV0YWlscykgKFBhcmVudGhldGljYWwpAA__" id="xdx_90D_eus-gaap--EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate_pid_dp_uPure_c20250401__20260331__srt--StatementGeographicalAxis__country--KY_z7SlIkrp3whk" title="Federal corporate tax rate">0%.</td> </tr></table>

5999995

4668811

-1160962

0.17

1019999

793698

-197364

26989

51953

140479

-26850 -21389 -19560 19080

12959

15052

36908

-5508

-26782

-29659

-102

43498 307574

24862

-8854

1045511

825926

155708

0.17

<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 style="text-align: justify; width: 0.5in">15.</td> <td style="text-align: justify">OTHER INCOME </td></tr> </table> SCHEDULE OF OTHER INCOME <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_49F_20230401__20240331_zmKaUVzpQCkc" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_494_20240401__20250331_zqBQXXHPuHn2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_495_20250401__20260331_zIEoJFOJvp67" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="10" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Years Ended March 31,</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">US$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">US$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">US$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--InterestIncomeExpenseNet_maONIzI8G_zqOsp1KWL9E6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 48%">Interest income</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">4,000</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">2,753</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">1,323</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td></tr> <tr id="xdx_406_eus-gaap--OtherIncome_maONIzI8G_ziGdj7Kdl7p9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif">Other income</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">136</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_ecustom--InsuranceClaim_maONIzI8G_zRISMbkTOMH3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Insurance claim</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,541</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_409_ecustom--FixedDepositInterest_maONIzI8G_za5RTwpR4Cka" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Fixed deposit interest</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">146,653</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">23,077</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,124</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_407_ecustom--GainOnDerecognitionOfOperatingLeaseRightofuseAsset_maONIzI8G_zgkAxW0WLqkf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Gain on derecognition of operating lease right-of-use asset</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,437</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40E_ecustom--ForfeitedCustomerAdvances_maONIzI8G_zw6IpzS7a6zj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Forfeited customer advances</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">226,065</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">544</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_407_eus-gaap--OtherNonoperatingIncome_iT_mtONIzI8G_zLvfTHU3rXGg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Other income</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">150,653</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">251,895</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">9,105</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

SCHEDULE OF OTHER INCOME <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 93%; border-collapse: collapse; margin-left: 0.5in"> <tr style="font: 10pt Times New Roman, Times, Serif; display: none; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_49F_20230401__20240331_zmKaUVzpQCkc" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_494_20240401__20250331_zqBQXXHPuHn2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" id="xdx_495_20250401__20260331_zIEoJFOJvp67" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="10" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">For the Years Ended March 31,</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2024</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2025</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center">2026</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">US$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">US$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif; text-align: center">US$</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center"> </td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td colspan="2" style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_401_eus-gaap--InterestIncomeExpenseNet_maONIzI8G_zqOsp1KWL9E6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif; width: 48%">Interest income</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 15%; text-align: right">4,000</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">2,753</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td> <td style="font: 10pt Times New Roman, Times, Serif; width: 14%; text-align: right">1,323</td> <td style="font: 10pt Times New Roman, Times, Serif; width: 1%"> </td></tr> <tr id="xdx_406_eus-gaap--OtherIncome_maONIzI8G_ziGdj7Kdl7p9" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> <td style="font: 10pt Times New Roman, Times, Serif">Other income</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">136</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_408_ecustom--InsuranceClaim_maONIzI8G_zRISMbkTOMH3" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Insurance claim</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,541</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_409_ecustom--FixedDepositInterest_maONIzI8G_za5RTwpR4Cka" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Fixed deposit interest</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">146,653</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">23,077</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">4,124</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_407_ecustom--GainOnDerecognitionOfOperatingLeaseRightofuseAsset_maONIzI8G_zgkAxW0WLqkf" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Gain on derecognition of operating lease right-of-use asset</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: right">1,437</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_40E_ecustom--ForfeitedCustomerAdvances_maONIzI8G_zw6IpzS7a6zj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Forfeited customer advances</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">-</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">226,065</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right">544</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> <tr id="xdx_407_eus-gaap--OtherNonoperatingIncome_iT_mtONIzI8G_zLvfTHU3rXGg" style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; background-color: #CCEEFF"> <td style="font: 10pt Times New Roman, Times, Serif">Other income</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">150,653</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">251,895</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif"> </td> <td style="border-bottom: black 2.25pt double; font: 10pt Times New Roman, Times, Serif; text-align: right">9,105</td> <td style="font: 10pt Times New Roman, Times, Serif"> </td></tr> </table>

4000

2753

1323

136

1541 146653 23077 4124 1437 226065 544

150653

251895

9105

<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 style="text-align: justify; width: 0.5in">16.</td> <td style="text-align: justify">RELATED PARTY TRANSACTIONS</td></tr> </table> Related parties include entities under common control and key management personnel, including directors. Parties are considered to be related if one party has the ability to control or exercise significant influence over the financial and operating decisions of the other party. The Company entered into the following transactions with related parties during the years presented. Unless otherwise stated, outstanding balances are unsecured, interest-free and repayable on demand. The following transactions took place between the Company and its related parties during the year: SCHEDULE OF RELATED PARTY TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230401__20240331_zUb9bUzgUr2g" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240401__20250331_zpdiZVJjPmR1" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250401__20260331_zLCAOa8XbJQf" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--RepaymentsOfConvertibleDebt_z1vGOzbblln" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Repayment of amount due to director</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">513,224</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LaborAndRelatedExpense_zTckmvPN5ILk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Directors’ fee</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">87,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DefinedContributionPlanEmployerDiscretionaryContributionAmount_z60uVbySAI21" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Directors’ CPF contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,925</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,648</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,930</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OfficersCompensation_zmaWSx8cAvq5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Directors’ Remuneration</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">1,547,698</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">1,863,168</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">3,377,458</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> Other than the transactions disclosed above, the Company had no other material related party transactions during the years presented.

The following transactions took place between the Company and its related parties during the year: SCHEDULE OF RELATED PARTY TRANSACTIONS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_495_20230401__20240331_zUb9bUzgUr2g" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_490_20240401__20250331_zpdiZVJjPmR1" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20250401__20260331_zLCAOa8XbJQf" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="10" style="border-bottom: Black 1pt solid; text-align: center">For the Years Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2024</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_40D_eus-gaap--RepaymentsOfConvertibleDebt_z1vGOzbblln" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 40%; text-align: left">Repayment of amount due to director</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">513,224</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right">-</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LaborAndRelatedExpense_zTckmvPN5ILk" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Directors’ fee</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">87,774</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DefinedContributionPlanEmployerDiscretionaryContributionAmount_z60uVbySAI21" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Directors’ CPF contribution</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">47,925</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">65,648</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">75,930</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--OfficersCompensation_zmaWSx8cAvq5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Directors’ Remuneration</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">1,547,698</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">1,863,168</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">3,377,458</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

513224

87774

47925

65648

75930

1547698

1863168

3377458

<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 style="text-align: justify; width: 0.5in">17.</td> <td style="text-align: justify">DIVIDENDS</td></tr> </table> During the year ended March 31, 2025, prior to the corporate reorganization and the Company’s initial public offering, Vantage Shipbrokers Pte. Ltd. declared interim tax-exempt (one-tier) dividends totaling US$11,849,995 payable to its then controlling shareholders. Of this amount, US$774,720 was settled through an offset against amounts due from a director, US$4,474,273 was paid on February 22, 2025, and a further US$2,215,173 was paid during the year ended March 31, 2026. Accordingly, the dividend payable balance of US$5,049,983 as of March 31, 2026 consisted of US$4,385,829, representing the unpaid portion of the dividend declared by Vantage Shipbrokers Pte. Ltd., and US$664,154 of pre-acquisition dividend liabilities assumed as part of the business acquisitions completed during the year. No dividends were declared by the Company during the year ended March 31, 2026. SCHEDULE OF DIVIDENDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240401__20250331_zih8p9XtKdFd" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250401__20260331_zjKZ9s34Jxeh" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the Year Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40A_eus-gaap--DividendIncomeSecuritiesOperatingByTaxableStatusAbstract_iB_z8gu0EXJnXM" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Dividends declared:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DividendIncomeSecuritiesOperatingTaxExempt_i01_zAXae4skGFs5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">-Interim tax-exempt (one-tier) dividend for 2025 and 2026</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">11,849,995</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">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

11849995

774720

4474273

2215173

5049983

4385829 664154

No dividends were declared by the Company during the year ended March 31, 2026. SCHEDULE OF DIVIDENDS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 93%; margin-left: 0.5in"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240401__20250331_zih8p9XtKdFd" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_499_20250401__20260331_zjKZ9s34Jxeh" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center">For the Year Ended March 31,</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2025</td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center">2026</td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td><td> </td> <td colspan="2" style="text-align: center">US$</td><td> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </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></tr> <tr id="xdx_40A_eus-gaap--DividendIncomeSecuritiesOperatingByTaxableStatusAbstract_iB_z8gu0EXJnXM" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 60%; text-align: justify">Dividends declared:</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 16%; text-align: right"> </td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DividendIncomeSecuritiesOperatingTaxExempt_i01_zAXae4skGFs5" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt">-Interim tax-exempt (one-tier) dividend for 2025 and 2026</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">11,849,995</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">-</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>

11849995

18. SEGMENT REPORTING The Company determines its operating segments based on how its Chief Operating Decision Maker (“CODM”) manages the business, allocates resources and evaluates operating performance. The Company’s CODM is its Chief Executive Officer, who reviews the Company’s financial results on a consolidated basis. The Company operates as one operating segment and one reportable segment, consisting of the provision of shipbroking services. The CODM uses net income (loss), as presented in the consolidated statements of operations and comprehensive income (loss), as the primary measure of segment performance for evaluating operating results, allocating resources and making strategic business decisions. The CODM regularly reviews consolidated revenue and the following significant expense categories in assessing the Company’s operating performance and allocating resources: SCHEDULE OF SEGMENT REPORTING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230401__20240331_zJilS1SlOeOc" 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" id="xdx_49F_20240401__20250331_zE5QaCKpaJLe" 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" id="xdx_492_20250401__20260331_z5PxBib5rwA1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</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="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 style="text-align: center"> </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><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</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"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zv4nEXD4yx1g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">19,999,294</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">18,659,141</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">17,837,611</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CostOfRevenue_iN_di_zJLfsOgMQFfb" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,560,766</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,044,402</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,427,222</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--SellingAndMarketingExpense_iN_di_zCSjKJpGu4Pb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Selling and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,063,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,130,799</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,489,005</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DepreciationAndAmortization_iN_di_zwnKaK4dL6Ub" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(175,488</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(272,734</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(598,516</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--GeneralAndAdministrativeExpense_iN_di_zww1Wyx7cH95" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,361,763</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,798,028</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,156,987</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--SegmentReportingOtherItemAmount_iN_di_z4HSSb1iUo9b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other segment items*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">162,251</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">255,633</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(326,843</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iN_di_zFk1CeGU3Bc5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income tax 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">(1,045,511</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">(825,926</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">(155,708</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_zUXiQIy6FCH3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net Income (Loss)</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">4,954,484</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">3,842,885</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">(1,316,670</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The accounting policies of the reportable segment are the same as those described in Note 2 – Summary of Significant Accounting Policies. There are no intersegment revenues or transactions. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0E_z88UBeNeHBV" style="width: 35pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify">Other segment items primarily consist of government grants, other income and interest expense, net, as reported in the consolidated statements of operations and comprehensive income (loss).</td> </tr></table>

SCHEDULE OF SEGMENT REPORTING <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="display: none; vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20230401__20240331_zJilS1SlOeOc" 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" id="xdx_49F_20240401__20250331_zE5QaCKpaJLe" 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" id="xdx_492_20250401__20260331_z5PxBib5rwA1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</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="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 style="text-align: center"> </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><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2026</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="font-weight: bold; text-align: center">US$</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"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td><td> </td> <td colspan="2"> </td><td> </td></tr> <tr id="xdx_402_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_zv4nEXD4yx1g" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 46%">Revenue</td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">19,999,294</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">18,659,141</td><td style="width: 1%; text-align: left"> </td><td style="width: 2%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 14%; text-align: right">17,837,611</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CostOfRevenue_iN_di_zJLfsOgMQFfb" style="vertical-align: bottom; background-color: White"> <td>Cost of revenue</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,560,766</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,044,402</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,427,222</td><td style="text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--SellingAndMarketingExpense_iN_di_zCSjKJpGu4Pb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Selling and marketing expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,063,533</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,130,799</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,489,005</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--DepreciationAndAmortization_iN_di_zwnKaK4dL6Ub" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Depreciation and amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(175,488</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(272,734</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(598,516</td><td style="text-align: left">)</td></tr> <tr id="xdx_402_eus-gaap--GeneralAndAdministrativeExpense_iN_di_zww1Wyx7cH95" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">General and administrative Expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,361,763</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,798,028</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(6,156,987</td><td style="text-align: left">)</td></tr> <tr id="xdx_40B_eus-gaap--SegmentReportingOtherItemAmount_iN_di_z4HSSb1iUo9b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Other segment items*</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">162,251</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">255,633</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(326,843</td><td style="text-align: left">)</td></tr> <tr id="xdx_404_eus-gaap--IncomeTaxExpenseBenefit_iN_di_zFk1CeGU3Bc5" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Income tax 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">(1,045,511</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">(825,926</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">(155,708</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--NetIncomeLoss_zUXiQIy6FCH3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Net Income (Loss)</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">4,954,484</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">3,842,885</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">(1,316,670</td><td style="padding-bottom: 2.5pt; text-align: left">)</td></tr> </table> The accounting policies of the reportable segment are the same as those described in Note 2 – Summary of Significant Accounting Policies. There are no intersegment revenues or transactions. <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td id="xdx_F0E_z88UBeNeHBV" style="width: 35pt; text-align: right">*</td><td style="width: 5pt"></td><td style="text-align: justify">Other segment items primarily consist of government grants, other income and interest expense, net, as reported in the consolidated statements of operations and comprehensive income (loss).</td> </tr></table>

19999294

18659141

17837611

10560766

10044402

10427222

1063533

1130799

1489005

175488

272734

598516

2361763

2798028

6156987

-162251

-255633

326843

1045511

825926

155708

4954484

3842885

-1316670

<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 style="text-align: justify; width: 0.5in">19.</td> <td style="text-align: justify">CONCENTRATION OF RISKS</td></tr> </table> Concentration of credit risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains its cash and cash equivalents with reputable financial institutions that management believes are of high credit quality. Accounts receivable primarily comprise trade receivables due from customers. The Company performs ongoing credit evaluations of its customers and generally does not require collateral or other security. The Company maintains an allowance for expected credit loss based on historical collection experience, the aging of receivables, current economic conditions, and specific customer credit risk. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">19.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">CONCENTRATION OF RISKS – CONTINUED</td></tr> </table> Concentration of customers No individual customer accounted for more than <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomersMember_zTrjgkPHdTNf" title="Concentration risk, percentage">10% of accounts receivable as of March 31, 2026. Two customers individually accounted for more than <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--TwoCustomersMember_zcGidO9IDbDb" title="Concentration risk, percentage">10% of accounts receivable as of March 31, 2025. One of these customers subsequently settled its outstanding balance in full after the financial year-end. No individual customer accounted for more than <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomersMember_zDIjgrBdqbgc" title="Concentration risk, percentage">10% of accounts receivable as of March 31, 2024. No individual customer accounted for more than <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomersMember_zUiqpg0bmXX8" title="Concentration risk, percentage"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomersMember_ztpGG6cyaii2" title="Concentration risk, percentage"><span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--NoCustomersMember_zBKITy4Eqweh" title="Concentration risk, percentage">10% of the Company’s revenue for the years ended March 31, 2024, 2025 and 2026. Concentration of vendors As of March 31, 2026, two vendors accounted for approximately <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_zsnKnbHu0CBk" title="Concentration risk, percentage">44% and <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember_zH1ejSdMEIHk" title="Concentration risk, percentage">19% of the Company’s accounts payable, respectively. The balance due to the vendor representing approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_z067GmmqT229" title="Concentration risk, percentage">44% of accounts payable was assumed as part of the business acquisitions completed during the year (see Note 3) and remained outstanding as of March 31, 2026. The balance due to the vendor representing approximately <span id="xdx_90D_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember_zXfdhrraa8c6" title="Concentration risk, percentage">19% of accounts payable arose from normal business operations and primarily reflected invoices received shortly before the financial year end. Management does not consider the Company to be substantially dependent on either vendor. For the year ended March 31, 2026, total commission expense was US$<span id="xdx_902_eus-gaap--PaymentsForCommissions_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember_zjQBixkbebn7" title="Commissions expense">470,649. Two vendors accounted for approximately <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CommissionExpensesTotalMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_zsNKayyyFt8h" title="Concentration risk, percentage">20% and <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20250401__20260331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CommissionExpensesTotalMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember_zuX8tyJhZMA5" title="Concentration risk, percentage">9%, respectively, of total commission expense. As of March 31, 2025, four vendors accounted for approximately <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_z30bGVK3at96" title="Concentration risk, percentage">35%, <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember_zgIVXyLcr8ii" title="Concentration risk, percentage">28%, <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorThreeMember_zZUSDlMUqmr4" title="Concentration risk, percentage">23% and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorFourMember_zWCxZtF9MWVi" title="Concentration risk, percentage">12% of the Company’s accounts payable, respectively. The Company was not substantially dependent on these vendors, as purchases from the two principal vendors represented only approximately <span id="xdx_90F_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_zexRGFP0ytx2" title="Concentration risk, percentage">0.35% and <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember_zIatKAg8zhO9" title="Concentration risk, percentage">0.25%, respectively, of total cost of revenue for the year ended March 31, 2025. For the year ended March 31, 2025, total commission expense was US$<span id="xdx_903_eus-gaap--PaymentsForCommissions_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember_zSimTDYquDn5" title="Commissions expense">676,312. Two vendors accounted for approximately <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CommissionExpensesTotalMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_zOcBTAtf6nT7" title="Concentration risk, percentage">5% and <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240401__20250331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CommissionExpensesTotalMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember_zzxlGkI1VNi2" title="Concentration risk, percentage">4%, respectively, of total commission expense. As of March 31, 2024, two vendors accounted for approximately <span id="xdx_905_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_z0ukLoHoetRi" title="Concentration risk, percentage">57.7% and <span id="xdx_900_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember_zMVjGNIcVdNg" title="Concentration risk, percentage">11% of the Company’s accounts payable, respectively. The Company was not substantially dependent on the principal vendor, as purchases from that vendor represented approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_zvvAlQZPpJ17" title="Concentration risk, percentage">1.9% of total cost of revenue for the year ended March 31, 2024. For the year ended March 31, 2024, total commission expense was US$<span id="xdx_907_eus-gaap--PaymentsForCommissions_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsPayableMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember_zm0lquxkhLj9" title="Commissions expense">249,280. Two vendors accounted for approximately <span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CommissionExpensesTotalMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorOneMember_zTLIsddaEgIk" title="Concentration risk, percentage">46.4% and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230401__20240331__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--CommissionExpensesTotalMember__us-gaap--ConcentrationRiskByTypeAxis__custom--VendorConcentrationRiskMember__srt--MajorCustomersAxis__custom--VendorTwoMember_zw3UCIW9skFe" title="Concentration risk, percentage">24.8%, respectively, of total commission expense. Commission expense is included in Cost of revenue in the consolidated statements of operations. Credit Risk Credit risk is the potential financial loss to the Company resulting from the failure of a customer or a counterparty to settle its financial and contractual obligations to the Company, as and when they fall due. As the Company does not hold any collateral, the maximum exposure to credit risk is the carrying amounts of trade and other receivables (exclude prepayments) and cash and bank deposits presented on the balance sheets. The Company has no other financial assets which carry significant exposure to credit risk. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0.5in; text-align: justify">19.</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">CONCENTRATION OF RISKS – CONTINUED</td></tr> </table> Liquidity Risk Liquidity risk is the risk that the Company will encounter difficulty in meeting its financial obligations as they become due. The Company’s objective is to maintain sufficient liquidity to meet its liabilities when due under both normal and stressed conditions, without incurring unacceptable losses or risking damage to its reputation. The Company manages its liquidity by maintaining adequate cash and cash equivalents and monitoring forecast and actual cash flows. Management believes the Company maintains sufficient liquidity to fund its operations and meet its contractual obligations as they become due. Interest rate risk Interest rate risk is the risk that changes in market interest rates will affect the fair value or future cash flows of the Company’s financial instruments. The Company’s exposure to interest rate risk is primarily related to cash and cash equivalents held with financial institutions. Management believes that a reasonably possible change in market interest rates would not have a material effect on the Company’s consolidated financial statements. Exchange rate risk The Company operates in Singapore, the United Arab Emirates, Hong Kong and the People’s Republic of China and is therefore exposed to foreign currency risk arising from fluctuations in exchange rates. Although the Company’s reporting currency is the U.S. dollar, certain transactions and balances are denominated in Singapore dollars, Renminbi, Hong Kong dollars and United Arab Emirates Dirham. Fluctuations in exchange rates may affect the Company’s reported revenues, expenses, assets and liabilities upon translation into U.S. dollars. Management monitors foreign currency exposures on an ongoing basis but does not currently enter into derivative financial instruments to hedge foreign currency risk. Geopolitical Uncertainty The Company is subject to risks arising from global geopolitical developments, including ongoing conflicts in parts of the Middle East and Europe. These events may contribute to volatility in global markets, energy prices, freight markets, foreign exchange rates and supply chains, which could adversely affect customer demand, operating costs and the Company’s financial performance. The Company operates in several jurisdictions, including the United Arab Emirates. While the Company’s operations are not located in areas directly affected by the ongoing conflicts, regional instability or broader macroeconomic disruptions could indirectly affect its business through changes in market conditions, customer demand, trade flows and shipping activities. Management continues to monitor these developments and evaluate their potential impact on the Company’s operations and financial position. As of the date of issuance of these consolidated financial statements, the Company has not experienced a material adverse impact from these events. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

0.10

0.44

0.19

0.44

0.19

470649

0.20

0.09

0.35

0.28

0.23

0.12

0.0035

0.0025

676312

0.05

0.04

0.577

0.11

0.019

249280

0.464

0.248

<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 style="text-align: justify; width: 0.5in">20.</td> <td style="text-align: justify">COMMITMENTS AND CONTINGENCIES</td></tr> </table> Contingencies In the ordinary course of business, the Company may be involved in legal proceedings, claims and other matters arising from contractual, employment and other business relationships. The Company records a liability for such matters when it is probable that a loss has been incurred and the amount of the loss can be reasonably estimated. As of March 31, 2025 and 2026, and through the date the consolidated financial statements were issued, management is not aware of any pending or threatened legal proceedings or claims that are expected to have a material adverse effect on the Company’s financial position, results of operations or cash flows. As of March 31, 2025 and 2026, the Company had no material commitments or contingencies requiring disclosure other than those disclosed elsewhere in these consolidated financial statements.

<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 style="text-align: justify; width: 0.5in">21.</td> <td style="text-align: justify">SUBSEQUENT EVENTS</td></tr> </table> The Company has evaluated subsequent events through the date the consolidated financial statements were issued and determined that, other than the event described below, there were no material subsequent events requiring adjustment to or disclosure in these consolidated financial statements. As of June 30, 2026, the Company had repurchased <span id="xdx_904_eus-gaap--StockRepurchasedDuringPeriodShares_c20260401__20260630__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_z7WYwX7NsA8a" title="Stock repurchased during period, shares">1,076,610 Class A ordinary shares for an aggregate purchase price of US$<span id="xdx_90B_eus-gaap--StockRepurchasedDuringPeriodValue_c20260401__20260630__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember__us-gaap--StatementClassOfStockAxis__us-gaap--CommonClassAMember_zjCF1Eo61ac3" title="Stock repurchased during period, value">997,898, including brokerage commissions and other transaction costs, and completed the share repurchase program.

1076610

997898

Retroactively presented for 28,000,000 ordinary shares issued in preparation of the Company’s initial public offering The Company has reconciled to the Singapore statutory tax rate of 17% to reflect the location of the Company’s operating activities and rather than reconciling to Cayman Islands statutory tax rate of 0%. Other segment items primarily consist of government grants, other income and interest expense, net, as reported in the consolidated statements of operations and comprehensive income (loss).