| Schedule of bank and other borrowings |
As
of March 31, 2026 and 2025, the Company’s bank and other borrowings consisted of the following:
Schedule
of bank and other borrowings
| | |
2026 | | |
2025 | |
| | |
As of March 31, | |
| | |
2026 | | |
2025 | |
| | |
| | |
| |
| Agricultural Bank of China | |
$ | 1,449,696 | | |
$ | 1,378,037 | |
| Bank of Communications | |
| 1,449,696 | | |
| 413,411 | |
| Ping An International Financial Leasing Co., Ltd | |
| 783,704 | | |
| - | |
| China Zheshang Bank Co., Ltd. | |
| 724,848 | | |
| - | |
| China Merchants Bank | |
| 579,879 | | |
| 413,411 | |
| Changshu Rural Commercial Bank | |
| 434,909 | | |
| 413,411 | |
| Shenzhen Qianhai WeBank Co., Ltd. | |
| 111,286 | | |
| 776,294 | |
| Industrial and Commercial Bank of China | |
| 28,994 | | |
| - | |
| Prince Jewellery & Watch (Shanghai) Co., Ltd. | |
| - | | |
| 275,607 | |
| Bank of Jiangsu | |
| - | | |
| 96,463 | |
| Total bank and other borrowings | |
$ | 5,563,012 | | |
$ | 3,766,634 | |
| Less: current portion of bank and other borrowings | |
| (5,038,996 | ) | |
| (3,766,634 | ) |
| Non-current portion of bank and other borrowings | |
$ | 524,016 | | |
$ | - | |
|
| Schedule of detailed information of bank and other borrowings |
Detailed
information of bank and other borrowings are as follows:
Schedule
of detailed information of bank and other borrowings
| | |
Inception | |
Maturity | |
| | |
Initial | | |
Interest
rate (per | | |
Balance as of March 31,
(in US$) | |
| Lender | |
date | |
date | |
Currency | | |
principal | | |
annum) | | |
2026 | | |
2025 | |
| Industrial and Commercial Bank of China (6) | |
November 3, 2025 | |
May 12, 2026 | |
| RMB | | |
| 200,000 | | |
| 2.30 | % | |
| 28,994 | | |
| - | |
| Shenzhen Qianhai WeBank Co., Ltd. (1) | |
April 16, 2025 | |
April 26, 2027 | |
| RMB | | |
| 696,238 | | |
| 6.67 | % | |
| 100,933 | | |
| - | |
| Agricultural Bank of China (1) | |
March 18, 2026 | |
March 16, 2027 | |
| RMB | | |
| 10,000,000 | | |
| 2.80 | % | |
| 1,449,696 | | |
| - | |
| Changshu Rural Commercial Bank (2) | |
August 21, 2025 | |
August 20, 2026 | |
| RMB | | |
| 3,000,000 | | |
| 3.80 | % | |
| 434,909 | | |
| - | |
| China Merchants Bank (1) | |
February 26, 2026 | |
February 26, 2027 | |
| RMB | | |
| 3,000,000 | | |
| 2.90 | % | |
| 434,909 | | |
| - | |
| China Merchants Bank (1) | |
September 19, 2025 | |
September 19, 2026 | |
| RMB | | |
| 1,000,000 | | |
| 2.70 | % | |
| 144,970 | | |
| - | |
| Bank of Communications (1) | |
November 21, 2025 | |
November 20, 2026 | |
| RMB | | |
| 2,000,000 | | |
| 2.70 | % | |
| 289,939 | | |
| - | |
| Bank of Communications (1) | |
November 25, 2025 | |
November 24, 2026 | |
| RMB | | |
| 5,000,000 | | |
| 2.70 | % | |
| 724,848 | | |
| - | |
| Bank of Communications (1) | |
February 26, 2026 | |
February 26, 2027 | |
| RMB | | |
| 3,000,000 | | |
| 3.80 | % | |
| 434,909 | | |
| - | |
| China Zheshang Bank Co., Ltd. (1) | |
September 9, 2025 | |
September 8, 2026 | |
| RMB | | |
| 5,000,000 | | |
| 3.50 | % | |
| 724,848 | | |
| - | |
| Ping An International Financial Leasing Co., Ltd (3) | |
December 3, 2025 | |
November 3, 2028 | |
| RMB | | |
| 2,520,000 | | |
| 6.05 | % | |
| 327,920 | | |
| - | |
| Ping An International Financial Leasing Co., Ltd (4) | |
March 31, 2026 | |
March 19, 2029 | |
| RMB | | |
| 3,144,000 | | |
| 6.05 | % | |
| 455,784 | | |
| - | |
| Agricultural Bank of China (1) (6) | |
March 20, 2025 | |
March 19, 2026 | |
| RMB | | |
| 10,000,000 | | |
| 3.40 | % | |
| - | | |
| 1,378,037 | |
| Shenzhen Qianhai WeBank Co., Ltd. (1) (5) | |
January 20, 2025 | |
January 26, 2027 | |
| RMB | | |
| 1,000,000 | | |
| 7.11 | % | |
| - | | |
| 137,804 | |
| Shenzhen Qianhai WeBank Co., Ltd. (1) (5) | |
March 19, 2025 | |
March 14, 2027 | |
| RMB | | |
| 1,000,000 | | |
| 6.01 | % | |
| - | | |
| 137,804 | |
| Shenzhen Qianhai WeBank Co., Ltd. (1) (5) | |
March 19, 2025 | |
March 14, 2027 | |
| RMB | | |
| 1,000,000 | | |
| 8.01 | % | |
| - | | |
| 137,804 | |
| Shenzhen Qianhai WeBank Co., Ltd. (1) (5) | |
March 19, 2025 | |
March 14, 2027 | |
| RMB | | |
| 1,000,000 | | |
| 8.01 | % | |
| - | | |
| 137,804 | |
| Shenzhen Qianhai WeBank Co., Ltd. (1) (5) | |
March 19, 2025 | |
March 26, 2027 | |
| RMB | | |
| 1,000,000 | | |
| 8.54 | % | |
| - | | |
| 137,804 | |
| Shenzhen Qianhai WeBank Co., Ltd. (1) (5) | |
June 3, 2024 | |
June 3, 2026 | |
| RMB | | |
| 500,000 | | |
| 5.40 | % | |
| - | | |
| 45,934 | |
| Shenzhen Qianhai WeBank Co., Ltd. (1) | |
March 19, 2025 | |
March 26, 2027 | |
| RMB | | |
| 300,000 | | |
| 7.07 | % | |
| 10,353 | | |
| 41,340 | |
| Bank of Communications (1) (6) | |
March 7, 2025 | |
March 7, 2026 | |
| RMB | | |
| 3,000,000 | | |
| 3.80 | % | |
| - | | |
| 413,411 | |
| Changshu Rural Commercial Bank (1) (6) | |
August 30, 2024 | |
August 29, 2025 | |
| RMB | | |
| 3,000,000 | | |
| 3.35 | % | |
| - | | |
| 413,411 | |
| China Merchants Bank (1) (6) | |
January 2, 2025 | |
July 2, 2025 | |
| RMB | | |
| 3,000,000 | | |
| 2.70 | % | |
| - | | |
| 413,411 | |
| Prince Jewellery & Watch (Shanghai) Co., Ltd. (1) (6) | |
February 5, 2025 | |
February 5, 2026 | |
| RMB | | |
| 2,000,000 | | |
| 3.10 | % | |
| - | | |
| 275,607 | |
| Bank of Jiangsu (1) (5) | |
March 19, 2025 | |
March 26, 2027 | |
| RMB | | |
| 700,000 | | |
| 7.07 | % | |
| - | | |
| 96,463 | |
| | |
| |
| |
| | | |
| | | |
| Total | | |
| 5,563,012 | | |
| 3,766,634 | |
| (1) |
The
loan is guaranteed by Lin Tan, COO of the Company. |
| (2) |
The
loan is jointly guaranteed by Lin Tan, COO of the Company and Yuyu Wang (General Manager of Wuxi TC-Link). |
| (3) |
The
loan is collateralized by six wind blade trailers. |
| (4) |
The
loan is collateralized by twelve flatbed trailers. |
| (5) |
The
loan was repaid in full before its maturity. Borrowings from Shenzhen Qianhai WeBank Co., Ltd. and Bank of Jiangsu contain clauses
which allow borrowers to make early repayments without penalties. Considering the interest rates of these borrowings are significantly
higher than the Company’s other borrowings, the Company intends to repay these borrowings as soon as it has available funds,
usually within one year from the commencement of each borrowing. Therefore, these borrowings are presented as current liabilities
despite the fact that their original maturities exceed one year. |
| (6) |
The
loan was repaid in full upon its maturity. |
|