| Schedule of Summary Information By Segment |
The
following tables present summary information by segment for the years ended March 31, 2026, 2025 and 2024, respectively:
Schedule
of Summary Information By Segment
| | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| | |
For the year ended March 31, 2026 | |
| | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| | |
| | |
| | |
| |
| Revenues - third parties | |
$ | 40,677,991 | | |
$ | 4,699,986 | | |
$ | 45,377,977 | |
| Revenues - a related party | |
| 253,795 | | |
| - | | |
| 253,795 | |
| Cost of revenues - third parties | |
| (36,971,662 | ) | |
| (4,398,942 | ) | |
| (41,370,604 | ) |
| Cost of revenues - related parties | |
| (18,315 | ) | |
| - | | |
| (18,315 | ) |
| Gross profit | |
| 3,941,809 | | |
| 301,044 | | |
| 4,242,853 | |
| Gross margin | |
| 9.6 | % | |
| 6.4 | % | |
| 9.3 | % |
| Selling expenses | |
| (479,282 | ) | |
| (437,619 | ) | |
| (916,901 | ) |
| General and administrative expenses | |
| (2,494,272 | ) | |
| (820,329 | ) | |
| (3,314,601 | ) |
| Insurance indemnity | |
| 135,894 | | |
| - | | |
| 135,894 | |
| Government subsidies | |
| 75,853 | | |
| 48,941 | | |
| 124,794 | |
| Unallocated income (expenses) | |
| | | |
| | | |
| | |
| - Group professional service fees | |
| | | |
| | | |
| (222,389 | ) |
| - Compensation of directors | |
| | | |
| | | |
| (32,500 | ) |
| - Share-based compensation | |
| | | |
| | | |
| (816,950 | ) |
| - Interest expenses, net | |
| | | |
| | | |
| (287,422 | ) |
| - Other income | |
| | | |
| | | |
| 74,519 | |
| Other segment disclosures | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| Other segment disclosures | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| Depreciation (1) | |
$ | 70,008 | | |
$ | 61,172 | | |
$ | 131,180 | |
| Capital expenditures | |
| 554,858 | | |
| 324,091 | | |
| 878,949 | |
| Income tax expenses | |
| (109,724 | ) | |
| (29,676 | ) | |
| (139,400 | ) |
| Segment assets as of March 31, 2026 | |
$ | 21,424,344 | | |
$ | 10,855,477 | | |
$ | 32,279,821 | |
| | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| | |
For the year ended March 31, 2025 | |
| | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| | |
| | |
| | |
| |
| Revenues - third parties | |
$ | 34,918,308 | | |
$ | 4,787,785 | | |
$ | 39,706,093 | |
| Revenues - a related party | |
| 335,598 | | |
| - | | |
| 335,598 | |
| Cost of revenues - third parties | |
| (29,756,523 | ) | |
| (4,276,746 | ) | |
| (34,033,269 | ) |
| Cost of revenues - related parties | |
| (8,581 | ) | |
| - | | |
| (8,581 | ) |
| Gross profit | |
| 5,488,802 | | |
| 511,039 | | |
| 5,999,841 | |
| Gross margin | |
| 15.6 | % | |
| 10.7 | % | |
| 15.0 | % |
| Selling expenses | |
| (643,448 | ) | |
| (131,036 | ) | |
| (774,484 | ) |
| General and administrative expenses | |
| (2,069,571 | ) | |
| (485,263 | ) | |
| (2,554,834 | ) |
| Insurance indemnity | |
| 171,718 | | |
| - | | |
| 171,718 | |
| Government subsidies | |
| 16,642 | | |
| - | | |
| 16,642 | |
| Unallocated income (expenses) | |
| | | |
| | | |
| | |
| - Audit and other professional fees | |
| | | |
| | | |
| (371,314 | ) |
| - Compensation of a director | |
| | | |
| | | |
| (32,000 | ) |
| - Interest expenses, net | |
| | | |
| | | |
| (142,812 | ) |
| - Other income | |
| | | |
| | | |
| 58,377 | |
| Other segment disclosures | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| Other segment disclosures | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| Depreciation (1) | |
$ | 76,825 | | |
$ | 11,897 | | |
$ | 88,722 | |
| Capital expenditures | |
| 328,280 | | |
| 69,161 | | |
| 397,441 | |
| Income tax expenses | |
| (539,869 | ) | |
| (51,239 | ) | |
| (591,108 | ) |
| Segment assets as of March 31, 2025 | |
$ | 18,502,486 | | |
$ | 6,279,005 | | |
$ | 24,781,491 | |
| | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| | |
For the year ended March 31, 2024 | |
| | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| | |
| | |
| | |
| |
| Revenues - third parties | |
$ | 37,295,968 | | |
$ | 2,865,097 | | |
$ | 40,161,065 | |
| Revenues - related parties | |
| 282,564 | | |
| - | | |
| 282,564 | |
| Cost of revenues - third parties | |
| (32,997,049 | ) | |
| (2,427,339 | ) | |
| (35,424,388 | ) |
| Cost of revenues - related parties | |
| - | | |
| (574 | ) | |
| (574 | ) |
| Gross profit | |
| 4,581,483 | | |
| 437,184 | | |
| 5,018,667 | |
| Gross margin | |
| 12.2 | % | |
| 15.3 | % | |
| 12.4 | % |
| Selling expenses | |
| (690,873 | ) | |
| (21,465 | ) | |
| (712,338 | ) |
| General and administrative expenses | |
| (1,954,189 | ) | |
| (819,748 | ) | |
| (2,773,937 | ) |
| Insurance indemnity | |
| 128,442 | | |
| - | | |
| 128,442 | |
| Government subsidies | |
| 27,202 | | |
| - | | |
| 27,202 | |
| Unallocated (expenses) income | |
| | | |
| | | |
| | |
| - Audit fees | |
| | | |
| | | |
| (90,000 | ) |
| - Compensation of a director | |
| | | |
| | | |
| (8,000 | ) |
| - Interest expenses, net | |
| | | |
| | | |
| (94,908 | ) |
| - Other income, net | |
| | | |
| | | |
| 40,361 | |
| Other segment disclosures | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| Other segment disclosures | |
Transportation services | | |
Warehouse subleasing services | | |
Total | |
| Depreciation (1) | |
$ | 109,633 | | |
$ | 5,517 | | |
$ | 115,150 | |
| Capital expenditures | |
| 7,384 | | |
| 49 | | |
| 7,433 | |
| Income tax (expenses) benefit | |
| (457,759 | ) | |
| 5,970 | | |
| (451,789 | ) |
| Segment assets as of March 31, 2024 | |
$ | 18,573,064 | | |
$ | 4,418,387 | | |
$ | 22,991,451 | |
| (1) |
the amounts of depreciation
disclosed by reportable segments are included in cost of revenues and general and administrative expenses. |
|