v3.26.1
Lease
 12 Months Ended
Mar. 31, 2026
Lease [Abstract]  
LEASE

NOTE 15 — LEASE

 

The Company has various operating leases for office and manufacturing space. The lease agreement does not specify an explicit interest rate and the interest rate implicit in the lease is not readily determinable. The Company’s management believes that the five year’s loan prime rate of PRC plus margin 0.05% was the most indicative rate of the Company’s borrowing cost for the calculation of the present value of the lease payments; the rate used by the Company was 3.75%.

 

As of March 31, 2026 and 2025, the right-of-use asset totaled $1,033,110 and $120,918, respectively.

 

As of March 31, 2026 and 2025, lease liability consists of the following:

 

    March 31,
2026		     March 31,
2025		  
Lease liability – current portion   $ 478,603     $ 123,645  
Lease liability – non-current portion     595,814       —  
Total   $ 1,074,417     $ 123,645  

 

The following table represents the lease cost as of the periods indicated.

 

    March 31,
2026		     March 31,
2025		     March 31,
2024		  
Amortization of operating lease right of use assets   $ 408,061     $ 281,006     $ 125,902  
Interest on lease liabilities     35,690       10,883       9,485  
Short term lease expenses     16,146       73,437       73,941  
Total   $ 459,897     $ 365,326     $ 209,328  

 

The following table represents the maturity of lease liabilities as of March 31, 2026.

 

    Operating
Leases		  
2027     510,740  
2028     281,834  
2029     135,046  
2030     140,861  
2031     70,430  
Total lease payments     1,138,911  
Less: interest     (64,494 )
Present value of lease liabilities   $ 1,074,417  

 

Other lease information is as follow:

 

Lease Term and Discount Rate   March 31,
2026		     March 31,
2025		     March 31,
2024		  
Weighted-average remaining lease term – operating leases     2.97 years       0.42 years       1.42 years  
Weighted-average discount rate – operating leases     3.75 %     4.25 %     4.25 %

 

The following table represents the minimum cash lease payments included in the measurement of lease liabilities for the periods presented.

 

    March 31,
2026		     March 31,
2025		     March 31,
2024		  
Cash paid for amounts included in the measurement of lease liabilities:                        
Cash outflows for operating leases   $ 415,561     $ 293,516     $ 131,945