v3.26.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Mar. 31, 2026
Mar. 31, 2025
Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES:      
Net (loss) income $ (1,250,422) $ 10,199,851 $ (4,234,242)
Adjustments to reconcile net (loss) income to net cash used in operating activities:      
Depreciation and amortization 363,686 1,137,240 790,449
Provision for (reversal of) doubtful accounts (428,420) 85,642 (249,257)
Amortization of right-of-use assets 4,879,012 4,594,172
Loss from disposal of property and equipment 107,251
Gain of divestiture Jiuxin Investment (15,757,753)
Deferred tax expenses(benefits) (79,692) (29,822)  
Investment loss 1,607,537
Change in operating assets and liabilities:      
Accounts receivable (3,461,596) 10,040,414 (1,804,440)
Notes receivable 29,743 (29,271) 19,943
Inventories and biological assets 1,948,887 405,822 (1,699,621)
Other receivables (2,042,206) (11,758,658) (672,830)
Advances to suppliers 449,647 (341,702) (839,221)
Long term deposit (1,361,613) (132,568)
Other current assets 477,144 19,076
Other noncurrent assets 0 (359,114) 69,539
Amount due from related parties (317,828)
Accounts payable 2,009,206 (21,128,762) 6,002,186
Other payables and accrued liabilities 321,435 28,752,570 868,975
Customer deposits 83,870 (162,940) (144,761)
Taxes payable 184,773 1,314,644 (948,277)
Operating lease liabilities (4,637,790) (6,191,522)
Net cash provided by (used in) operating activities (1,393,945) 1,247,770 (3,155,439)
CASH FLOWS FROM INVESTING ACTIVITIES:      
Acquisition of equipment and building (449) (155,360) (330,677)
Investment in a joint venture (1,116,212)
Purchases of intangible assets (66,973)
Additions to leasehold improvements (459,907) (525,988)
Acquisition of Ridgeline, net of cash acquired 4,833,439
Divestiture Jiuxin Investment, net of cash disposed (22,353,250)
Net cash used in investing activities (449) (18,135,078) (2,039,850)
CASH FLOWS FROM FINANCING ACTIVITIES:      
Proceeds from short-term bank loan 1,116,212
Repayment of short-term bank loan (277,266) (837,159)
Proceeds from notes payable 14,353,624 51,689,531 56,875,403
Repayment of notes payable (24,944,614) (56,365,693) (52,997,171)
Net proceeds from issuance of shares and warrants in private placements 10,883,257 7,633,000 2,589,600
Proceeds from other payable-related parties 325,784 1,257,406
Repayment of other payable-related parties (321,981) (1,499,764)
Net cash provided by (used in) financing activities (29,714) 1,505,592 8,004,291
EFFECT OF EXCHANGE RATE ON CASH 796,814 1,048,620 (1,505,475)
DECREASE (INCREASE) IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH (627,294) (14,333,096) 1,303,527
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, beginning of year 18,541,075 32,874,171 31,570,644
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH, end of year 17,913,781 18,541,075 32,874,171
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:      
Cash paid for income taxes 55,348 137,456 149,023
Cash paid for interest 67,069 6,289 13,604
NON-CASH ACTIVITIES：      
Cashless exercise of warrants 51,671
Issuance of shares for acquisition of subsidiaries 3,582,250
Cancellation of shares for disposal of subsidiaries 4,102,848
Subscription receivable from issuance of ordinary shares $ 3,791,077