v3.26.1
Segment Information
 12 Months Ended
Mar. 31, 2026
Segment Information [Abstract]  
SEGMENT INFORMATION

17. SEGMENT INFORMATION

 

The Company follows Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 280, Segment Reporting, as amended by Accounting Standards Update (“ASU”) No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, the Company continually monitors the reportable segments for changes in facts and circumstances to determine whether changes in the identification or aggregation of operating segments are necessary.

 

The Company’s chief operating decision maker (“CODM”) is the Mr. Danny Tze Ching Wong. The CODM regularly reviews financial information, including segment revenue, gross profit, significant segment expenses (selling expenses and general and administrative expenses), segment net income (loss), and segment assets to evaluate segment performance and allocate resources accordingly.

 

Based on the internal management reporting and assessment, the Company determined that it operates in two reportable segments: Hong Kong Trading and Vietnam Manufacturing for the years ended March 31, 2026 and 2025. And there was only one segment for the year ended March 31, 2024. Segment net income (loss) excludes general corporate administrative expenses and selling expense including corporate functional costs relating to legal and professional expenses and share-based compensation that are managed centrally at the corporate level and are excluded from the measure of segment performance reviewed by the CODM.

 

The following tables present the Company’s segment information for the year ended March 31, 2026 and 2025:

 

    2025     2026  
    USD     USD  
Revenue            
—   Hong Kong Trading     39,003,807       41,891,540  
—   Vietnam Manufacturing     546,560       2,659,685  
Elimination of internal transaction     (465,277 )     (2,322,468 )
Toal Revenue     39,075,090       42,228,757  
Cost of sales                
—   Hong Kong Trading     27,898,276       28,162,843  
—   Vietnam Manufacturing     384,852       2,010,445  
Elimination of internal transaction     (465,277 )     (2,287,296 )
Total Cost of sales     27,817,851       27,885,992  
Gross Profit                
—   Hong Kong Trading     11,105,531       13,728,697  
—   Vietnam Manufacturing     151,708       614,068  
Total Gross Profit     11,257,239       14,342,765  
Selling Expenses                
—   Hong Kong Trading     2,663,823       3,058,826  
—   Vietnam Manufacturing     -       130,200  
—   Corporate     654,595       1,241,651  
Total Selling expenses     3,318,418       4,430,677  
General and Administrative Expenses                
—   Hong Kong Trading     4,817,053       6,097,163  
—   Vietnam Manufacturing     317,654       372,081  
—   Corporate     405,857       486,331  
Total General and Administrative expenses     5,540,564       6,955,575  
Segment net income (loss)                
—   Hong Kong Trading     3,723,602       4,482,762  
—   Vietnam Manufacturing     (165,116 )     52,210  
—   Corporate     (1,046,146 )     (1,727,966 )
Total Segment net income (loss)     2,512,340       2,807,006  
Segment assets                
—   Hong Kong Trading     20,702,700       25,433,760  
—   Vietnam Manufacturing     2,670,737       3,635,206  
—   Corporate     5,206,104       3,485,590  
Elimination of internal transaction     (5,125,404 )     (4,583,113 )
Total Segment assets     23,454,137       27,971,443  
Capital expenditure                
—   Hong Kong Trading     36,580       410,129  
—   Vietnam Manufacturing     984,915       283,603  
Total Capital expenditure     1,021,495       693,732  
Long-lived assets                
—   Hong Kong Trading     2,553,768       3,112,145  
—   Vietnam Manufacturing     1,654,002       1,624,257  
Total Long-lived assets     4,207,770       4,736,402