| Loans |
Note 9. Loans
Short-term loans
Short-term loans consisted of the following:
| | |
As of
March 31,
2026 | | |
As of
March 31,
2025 | |
| Postal Saving Bank of China | |
| 1,014,787 | | |
| 2,480,466 | |
| Agricultural Bank of China | |
| - | | |
| 620,117 | |
| Bank of China | |
| 724,848 | | |
| - | |
| Total | |
$ | 1,739,635 | | |
$ | 3,100,583 | |
Short-term loans as of March 31, 2026 consisted
of the following:
| For the fiscal year ended March 31, 2026 secured short-term bank loans | | Loan
commencement
date | | Loan
maturity
date | | Loan
amount
in RMB | | | Loan
amount
in USD | | | Effective
interest
rate | | | Postal Savings Bank of China | | 2026/1/7 | | 2027/1/6 | | | 3,000,000 | | | | 434,909 | | | | 2.86 | % | | Postal Savings Bank of China | | 2025/6/30 | | 2026/6/29 | | | 1,800,000 | | | | 260,945 | | | | 2.86 | % | | Postal Savings Bank of China | | 2025/7/1 | | 2026/6/30 | | | 2,200,000 | | | | 318,933 | | | | 2.86 | % | | Bank of China | | 2026/2/26 | | 2027/2/25 | | | 5,000,000 | | | | 724,848 | | | | 3.00 | % | | Total secured short-term bank loans as of March 31, 2026 | | | | | | | 12,000,000 | | | $ | 1,739,635 | | | | | |
The loans from Postal Savings Bank of China are
secured by mortgages on the buildings and land use rights of He’ nan Lingbao New Material Technology Co., Ltd. and guaranteed by
Wen Enhong, Henan Tailaili Technology Co., Ltd., and Zhonghua Fu.
Short-term loans as of March 31, 2025 consisted
of the following:
| For the fiscal year ended March 31, 2025 secured short-term bank loans | | Loan
commencement
date | | Loan
maturity
date | | Loan
amount
in RMB | | | Loan
amount
in USD | | | Effective
interest
rate | | | Postal Savings Bank of China | | 2024/7/30 | | 2025/7/29 | | | 4,000,000 | | | $ | 551,215 | | | | 3.40 | % | | Postal Savings Bank of China | | 2024/8/27 | | 2025/8/26 | | | 5,000,000 | | | | 689,018 | | | | 3.20 | % | | Postal Savings Bank of China | | 2024/9/2 | | 2025/9/1 | | | 5,000,000 | | | | 689,018 | | | | 3.20 | % | | Postal Savings Bank of China | | 2024/9/6 | | 2025/9/5 | | | 4,000,000 | | | | 551,215 | | | | 3.20 | % | | Agricultural Bank of China | | 2024/6/17 | | 2025/6/16 | | | 500,000 | | | | 68,903 | | | | 3.26 | % | | Agricultural Bank of China | | 2024/11/25 | | 2025/11/24 | | | 2,000,000 | | | | 275,607 | | | | 3.26 | % | | Agricultural Bank of China | | 2025/3/19 | | 2026/3/18 | | | 2,000,000 | | | | 275,607 | | | | 3.26 | % | | Total secured short-term bank loans as of March 31, 2025 | | | | | | | 22,500,000 | | | $ | 3,100,583 | | | | | |
The loans from Postal Savings Bank of China are
secured by mortgages on the buildings and land use rights of He’ nan Lingbao New Material Technology Co., Ltd. and guaranteed by
Wen Enhong, Henan Tailaili Technology Co., Ltd., and Zhonghua Fu.
The loans from the Agricultural Bank of China
are secured by mortgages on the buildings and land use rights of He’ nan Lingbao New Material Technology Co., Ltd., with no guarantor
involved.
Long-term loans
Long -term loans consisted of the following:
| | |
As of
March 31,
2026 | | |
As of
March 31,
2025 | |
| Postal Saving Bank of China | |
| 613,996 | | |
| - | |
| Total | |
$ | 613,996 | | |
$ | - | |
Long-term loans as of March 31, 2026 consisted
of the following:
| For the fiscal year ended March 31, 2026 secured Long-term bank loans | | Loan
commencement
date | | Loan
maturity
date | | Loan
amount
in RMB | | | Loan
amount
in USD | | | Effective
interest
rate | | | Postal Savings Bank of China | | 2026/3/27 | | 2029/1/22 | | | 965,064 | | | $ | 139,905 | | | | 2.86 | % | | Postal Savings Bank of China | | 2026/1/26 | | 2029/1/22 | | | 3,270,280 | | | | 474,091 | | | | 2.86 | % | | Total secured Long-term bank loans as of March 31, 2026 | | | | | | | 4,235,344 | | | $ | 613,996 | | | | | |
The loans from Postal Savings Bank of China are
secured by mortgages on the buildings and land use rights of He’ nan Lingbao New Material Technology Co., Ltd. and guaranteed by
Wen Enhong, Henan Tailaili Technology Co., Ltd., and Zhonghua Fu.
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