| Related party balances and transactions |
Note
10 – Related party balances and transactions
The
details of the related parties involved in related party balances and transactions are summarized as follows:
Schedule
Of Related Party Transactions
| Name
of Related Parties |
|
Relationship
to the Company |
|
Nature
of Transactions |
| Eastern Worldwide Logistics
Group Inc. |
|
Controlled by a major shareholder
of the Company, Mr. Albert Wong |
|
Working capital loan |
| Shenzhen Eastern Worldwide
Logistics Co., Ltd. |
|
Controlled by a major shareholder
of the Company, Mr. Albert Wong |
|
Revenue, purchase, working
capital loan |
| Eastern Worldwide Company,
Limited |
|
Controlled by a major shareholder
of the Company, Mr. Albert Wong |
|
Purchase |
| Lin Tan |
|
Chief Operating Officer
(“COO”) of the Company |
|
Working capital loan |
Details
of related party balances are summarized as follows:
Accounts
receivable from a related party
Schedule
Of Accounts Receivable From Related Party
| | |
2026 | | |
2025 | |
| | |
As of March 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Shenzhen Eastern Worldwide Logistics Co., Ltd. | |
$ | 318,211 | | |
$ | 695,671 | |
| Account receivable from a related party, gross | |
| 318,211 | | |
| 695,671 | |
| Less: allowance for expected credit losses | |
| (7,336 | ) | |
| (54,332 | ) |
| Account receivable from a related party, net | |
$ | 310,875 | | |
$ | 641,339 | |
Contract
asset – a related party
Schedule
of Contract Asset
| | |
2026 | | |
2025 | |
| | |
As of March 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Shenzhen Eastern Worldwide Logistics Co., Ltd. | |
$ | 2,392 | | |
$ | - | |
| Contract asset – a related party | |
$ | 2,392 | | |
$ | - | |
Amount due from a related party
Schedule
Of Amount Due From Related Party
| | |
2026 | | |
2025 | |
| | |
As of March 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Eastern Worldwide Logistics Group Inc. | |
$ | - | | |
$ | 136,416 | |
| Amount due from a related party | |
$ | - | | |
$ | 136,416 | |
Amount
due to a related party
| | |
2026 | | |
2025 | |
| | |
As of March 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Lin Tan | |
$ | - | | |
$ | 203,695 | |
| Amount due to a related party | |
$ | - | | |
$ | 203,695 | |
Amounts
due from (to) related parties were interest-free, unsecured and due (repayable) on demand. The Company made (obtained) funds to (from)
its related parties for business purposes. As of March 31, 2026, the outstanding balances of amounts due from (to) related parties had
been fully settled.
Details
of related party transactions are summarized as follow:
Revenues
from a related party customer
Schedule
of Revenue From Related Party Customer
| | |
2026 | | |
2025 | | |
2024 | |
| | |
For the years ended March 31, | |
| | |
2026 | | |
2025 | | |
2024 | |
| | |
| | |
| | |
| |
| Shenzhen Eastern Worldwide Logistics Co., Ltd. | |
$ | 253,795 | | |
$ | 335,598 | | |
$ | 282,564 | |
| Revenues from a related party customer | |
$ | 253,795 | | |
$ | 335,598 | | |
$ | 282,564 | |
Purchases
from related party suppliers
Schedule of Purchases from Related Party Suppliers
| | |
2026 | | |
2025 | | |
2024 | |
| | |
For the years ended March 31, | |
| | |
2026 | | |
2025 | | |
2024 | |
| | |
| | |
| | |
| |
| Shenzhen Eastern Worldwide Logistics Co., Ltd. | |
$ | 18,315 | | |
$ | 8,581 | | |
$ | - | |
| Eastern Worldwide Company, Limited | |
| - | | |
| - | | |
| 574 | |
| Purchases from related party suppliers | |
$ | 18,315 | | |
$ | 8,581 | | |
$ | 574 | |
|