v3.26.1
RELATED PARTY BALANCES AND TRANSACTIONS
 12 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
RELATED PARTY BALANCES AND TRANSACTIONS

17. RELATED PARTY BALANCES AND TRANSACTIONS

 

The following is a list of related parties which the Group has balances and transactions with:

 

CS TECH Solution Limited   Common directors, Terence Wong and Dixon Chan
Greenspace Ventures Limited   Common directors, Terence Wong and Dixon Chan
Sky Sun Trading Limited   Director, is the spouse of Terence Wong
Tailor Recycled Aggregates (HK) Limited  

(1) Fellow subsidiary

(2) Common director, Dixon Chan

Tailor Recycled Aggregates Limited  

(1) Fellow subsidiary

(2) Common director, Terence Wong

TioStone Environmental Limited  

(1) Fellow subsidiary

(2) Common directors, Terence Wong and Dixon Chan

TioStone Holdings Limited  

(1) Holding company

(2) Common directors, Terence Wong and Dixon Chan

 

 

GREENVECTOR HOLDINGS LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

17. RELATED PARTY BALANCES AND TRANSACTIONS (Cont.)

 

a. Accounts receivable from related parties, net

 

As of March 31, 2026 and 2025, the balances of accounts receivable from related parties, net were as follows:

 

   2026   2025 
   As of March 31, 
   2026   2025 
         
CS TECH Solution Limited  $92,154   $98,253 
Greenspace Ventures Limited   -    1,542 
TioStone Environmental Limited   1,677,353    2,715,482 
Total accounts receivable from related parties  $1,769,507   $2,815,277 

 

The balances represented the accounts receivable from related parties’ sales income and rental income. For details, please refer to “i. Related Party Transactions” below.

 

b. Amount due from a related party

 

As of March 31, 2026 and 2025, the balances of amounts due from a related party were as follows:

 

   2026   2025 
   As of March 31, 
   2026   2025 
         
Greenspace Ventures Limited  $-   $321,341 
Total amounts due from a related party  $-   $321,341 

 

The amounts due from a related party were unsecured, non-interest bearing and repayable on demand.

 

c. Accounts payable to a related party

 

As of March 31, 2026 and 2025, the balances of accounts payable to a related party was follows:

   2026   2025 
   As of March 31, 
   2026   2025 
         
Sky Sun Trading Limited  $15,306   $- 
TioStone Environmental Limited   -    56,791 
Total accounts payable to related party  $15,306   $56,791 

 

The balances represented the accounts payable to a related party for purchases of raw materials. For details, please refer to “i. Related Party Transactions” below.

 

d. Amounts due to related parties

 

As of March 31, 2026 and 2025, the balance of amounts due to related parties were as follows:

 

   2026   2025 
   As of March 31, 
   2026   2025 
         
TioStone Holdings Limited  $6,355   $- 
TioStone Environmental Limited   5,102    - 
Total amounts due to related parties  $11,457   $- 

 

The amounts due to related parties were unsecured, non-interest bearing and repayable on demand.

 

 

GREENVECTOR HOLDINGS LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

17. RELATED PARTY BALANCES AND TRANSACTIONS (Cont.)

 

e. Prepayments and rental deposits paid to related parties, net

 

As of March 31, 2026 and 2025, the balance of prepayments and rental deposits paid to related parties, net were as follows:

 

   2026   2025 
   As of March 31, 
   2026   2025 
         
Prepayments          
CS TECH Solution Limited  $95,663   $- 
Rental deposits paid          
Sky Sun Trading Limited   15,306    15,424 
Subtotal   110,969    15,424 
Less: allowance for expected credit loss   (272)   - 
Total  $110,697   $15,424 

 

f. Rental deposits received from related parties

 

As of March 31, 2026 and 2025, the balances of rental deposits received from related parties were as follows:

 

   2026   2025 
   As of March 31, 
   2026   2025 
         
CS TECH Solution Limited  $13,393   $13,496 
Tailor Recycled Aggregates (HK) Limited   -    71,145 
Total rental deposits received from related parties  $13,393   $84,641 

 

g. Right-of-use assets – operating lease – related party

 

As of March 31, 2026 and 2025, the balances of right-of-use assets – operating lease from related party were as follows:

 

   2026   2025 
   As of March 31, 
   2026   2025 
         
Sky Sun Trading Limited  $82,015   $167,631 
Total right-of-use assets – operating lease – related party  $82,015   $167,631 

 

h. Operating lease liabilities – related party

 

As of March 31, 2026 and 2025, the balances of operating lease liabilities from related party including current portion and non-current portion were as follows:

 

   2026   2025 
   As of March 31, 
   2026   2025 
         
Sky Sun Trading Limited:          
Current portion  $82,015   $92,694 
Non-current portion   -    82,649 
Total operating lease liabilities – related party  $82,015   $175,343 

 

 

GREENVECTOR HOLDINGS LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

 

17. RELATED PARTY BALANCES AND TRANSACTIONS (Cont.)

 

i. Related party transactions

 

The following are the related party transactions for the years ended March 31, 2026, 2025 and 2024:

 

   2026   2025      2024  
   For the years ended March 31,  
   2026   2025    2024  
Revenue from sale of environmentally-friendly construction bricks                  
TioStone Environmental Limited  $2,244,485   $4,473,319    $ 1,980,405  
                   
Rental income from subleases of factory and office                  
TioStone Environmental Limited  $18,453   $3,079    $ -  
CS TECH Solution Limited   9,226    88,132      34,083  
Greenspace Ventures Limited   9,226    1,540      -  
Tailor Recycled Aggregates (HK) Limited   488,800    430,655      421,696  
Rental income from subleases of factory and office  $525,705   $523,406    $ 455,779  
                   
Other income                  
Tailor Recycled Aggregates (HK) Limited  $116,004   $-    $ -  
                   
Cost of purchases                  
TioStone Environmental Limited  $83,628   $514,170    $ 495,341  
Tailor Recycled Aggregates (HK) Limited   -    15,394      -  
   $

83,628

   $

529,564

    $

495,341

  
                   
Transportation cost                  
TioStone Environmental Limited  $25,914   $253,889    $ 108,999  
                   
Rental expenses for office                  
Sky Sun Trading Limited  $92,263   $15,394    $ -  
                   
Consulting fee / management fee                  
TioStone Holdings Limited  $109,646   $101,402    $ 77,792  
Tailor Recycled Aggregates (HK) Limited   -    

-

     

17,556

  
   $109,646   $

101,402

    $ 95,348  
                   
Accountancy fee                  
TioStone Holdings Limited  $24,954   $15,448    $ -  
CS TECH Solution Limited   -    4,618      3,585  
 Accounting fee  $24,954   $20,066    $ 3,585  
                   
Technical know-how expense                  
CS TECH Solution Limited  $5,648   $-    $ -  
                   
Allowance for expected credit loss for other receivables                  
Sky Sun Trading Limited  $272   $-    $ -  
                   
Allowance for expected credit loss for trade receivables                  
CS TECH Solution Limited  $22,914   $18,570    $ -  
Tailor Recycled Aggregates Limited   62    -      -  
TioStone Environmental Limited   106,484    (6,774)     -  
                   
Allowance for expected credit loss for trade receivables  $129,460   $11,796    $ -  


 

 

GREENVECTOR HOLDINGS LIMITED

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS