SHAREHOLDERS’ EQUITY |
12 Months Ended |
|---|---|
Mar. 31, 2026 | |
| Equity [Abstract] | |
| SHAREHOLDERS’ EQUITY | 20. SHAREHOLDERS’ EQUITY
On July 2, 2025, the shareholders of the Company approved a reclassification and re-designation of the Company’s share capital. Under this resolution, authorized shares with a par value of US$ each were designated as Class A Ordinary Shares, and authorized shares with a par value of US$ each were designated as Class B Ordinary Shares. Following this reclassification, the Company’s authorized share capital became US$, divided into shares with a par value of US$ each, comprising Class A Ordinary Shares and Class B Ordinary Shares. As a result, the original ordinary shares held by Dixon Chun Wan Chan and the original ordinary shares held by Terence Chee-Ho Wong in GreenVector Holdings Limited were redesignated to Class B Ordinary Shares. Holders of Class A Ordinary Shares and Class B Ordinary Shares have the same rights except for voting and conversion rights and restrictions on transfer of shares. Holders of Class A Ordinary Shares are entitled to one vote per share on all matters subject to the vote at general meetings of our Company, and holders of Class B Ordinary Shares are entitled to twenty (20) votes per share on all matters subject to the vote at general meetings of our Company. Holders of our Class A Ordinary Shares and Class B Ordinary Shares vote together as a single class on all matters submitted to a vote of our shareholders, except as may otherwise be required by law. Each Class B Ordinary Share is convertible into one Class A Ordinary Share at the option of the holder of Class B Ordinary Shares at any time.
On September 5, 2025, TioStone Holdings Limited transferred 100% of the ordinary shares of Laputa Eco-Construction Material Company Limited to GreenVector Company Limited. Following this transfer, GreenVector Company Limited owns 100% of the ordinary shares of Laputa Eco-Construction Material Company Limited, our operating subsidiary in Hong Kong. In connection with this transfer, on the same date, the board of directors of the Company approved the issuance of Class A Ordinary Shares and Class B Ordinary Shares to the beneficial owners of TioStone Holdings Limited as consideration for the ordinary shares of Laputa. The excess of the ordinary share capital over the par value amounted to $3,056,123 was credited retroactively to additional paid-in capital.
As of March 31, 2026 and 2025 and the date hereof, the Group’s share capital comprised of Class A Ordinary Shares at US$ par value per share and Class B Ordinary Shares at US$ par value per share.
|