v3.26.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
Operating activities      
Net income $ 2,807,006 $ 2,512,340 $ 783,660
Non-cash item adjustments:      
Depreciation 380,938 221,394 147,767
Non-cash operating lease expenses 577,561 370,177 362,255
Gain on disposal of property, plant and equipment (12,821)
Provision for inventories 470,624 186,823 116,115
Loss from early redemption of marketable debt securities 496
Unrealized loss on Securities Investment 55
Credit loss 33,509
Deferred income tax expense (recovery) (4,870) (55) (12,428)
Share-based awards 1,241,651 654,595
Change in operating assets and liabilities:      
Accounts receivable – third parties 635,671 (753,019) (254,817)
Accounts receivable – related parties (36,907) 33,924 (16,362)
Notes receivable (223,390) 39,590 250,330
Prepayment, deposits and other receivable (337,330) (326,169) (518,636)
Due from related parties 319,994 (87,081)
Accounts payable – third parties 683,816 569,731 (1,497,558)
Accounts payable – related parties (260,070) 1,188,738 (1,232,643)
Accruals, and other current liabilities 15,807 (81,765) 224,631
Contract liabilities 428,246 66,635 100,343
Due to related parties 54,739 325,976
Income tax payable (242,052) 1,362,672 (1,079,215)
Inventories (1,692,652) 1,196,033 1,220,369
Lease liabilities – operating lease (584,713) (335,680) (366,809)
Cash provided by/(used in) operating activities 3,901,254 7,226,013 (1,500,098)
Investing activities      
Payment for acquiring property, plant and equipment (693,732) (1,021,495) (198,701)
Proceeds from disposal of property, plant and equipment 12,821
Proceeds from redemption of marketable debt securities 2,220 198,718
Cash provided by/(used in) investing activities (678,691) (1,021,495) 17
Financing activities      
Repayment of bank loans (1,391,827) (645,415) (603,790)
Proceeds from bank loans 2,948,718
Payment for offering costs (1,055,100)
Loan from related parties 238,248 200,000
Advance from related parties 651,874 3,238,437 20,619,251
Repayment to related parties (517,240) (3,552,435) (22,922,176)
Payment of dividend (400,455) (1,676,750)
Proceeds from contributions by noncontrolling interests 490,000
Proceeds from issuance of common stock, net of issuance costs 6,340,537
Repurchase of treasury stock (1,143,557)
Cash (used in)/provided by financing activities 786,216 (669,868) 701,972
Effect of exchange rate changes on cash 51,387 (27,334)
Net change in cash and cash equivalents and restricted cash 4,060,166 5,507,316 (798,109)
Cash and cash equivalents and restricted cash as of beginning of the year 10,669,134 5,161,818 5,959,927
Cash and cash equivalents and restricted cash as of the end of the year 14,729,300 10,669,134 5,161,818
Supplementary Cash Flows Information      
Cash paid for interest 39,844 101,678 145,951
Cash received from interest 416,547 320,180 40,734
Cash paid(refund) for income tax 1,038,785 (704,997) 1,218,484
Supplementary Schedule of Non-Cash Investing and Financing Activities      
Right-of-use assets obtained in exchange for new operation lease liabilities 857,403 1,338,939
Dividends declared and offset against amounts due from related parties 3,922,795
Amounts due from related parties offset against accounts payable between Danny Wong and a supplier $ 300,009