v3.26.1
Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Mar. 31, 2026
Summary of Significant Accounting Policies [Abstract]  
Schedule of Preparing the Consolidated Financial Statements

The following table outlines the currency exchange rates that were used in preparing the consolidated financial statements:

 

      2026       2025  
Year-end spot rate     $1 = HK$7.8390       $1 = HK$7.7800  
Average rate     $1 = HK$7.8085       $1 = HK$7.7923  
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents assets and liabilities measured at fair value on a recurring basis, by level within the fair value hierarchy:

 

As of March 31, 2026   Level 1     Level 2     Level 3     Total  
Life insurance policy, CSV   $ —     $ 1,448,925     $ —     $ 1,448,925  
Convertible notes (liability)     —       —       (19,567,461 )     (19,567,461 )

 

As of March 31, 2025   Level 1     Level 2     Level 3     Total  
Life insurance policy, CSV   $ —     $ 1,390,388     $ —     $ 1,390,388  

 

The following table presents assets and liabilities measured at fair value on a non-recurring basis, by level within the fair value hierarchy:

 

As of March 31, 2026   Level 1     Level 2     Level 3     Total  
Other investments     —       —     $ 46,161,262     $ 46,161,262  
Schedule of Company's Level 3 Assets and Liabilities

The following table presents a reconciliation of the Company’s Level 3 assets and liabilities:

 

    Other investments     Convertible notes  
Beginning balance   $ —     $ —  
Additions / issuances     23,000,000       (19,575,000 )
Gains (losses) included in earnings     23,437,041       7,539  
Foreign currency translation     (275,779 )     —  
Ending balance   $ 46,161,262     $ (19,567,461 )
Schedule of Valuation Technique and Significant Unobservable Inputs

The following table presents the valuation technique and significant unobservable inputs used for Level 3 measurements:

 

Instrument   Valuation technique     Significant unobservable inputs
Other investments     Observable transaction price       Transaction price of recent third-party financing round
Convertible notes     Binomial lattice model       Discount rate of 13.4% (CCC-rated yield index); volatility of 40.0%; calibration discount of 30.9%
Schedule of Estimated Useful Lives of Property, Plant and Equipment

Property, plant and equipment are stated at cost, net of accumulated depreciation and amortization. Depreciation and amortization are provided for on a straight-line basis over the estimated useful lives of the related assets as follows:

 

Furniture and fixtures   4 – 5 years
Machineries   4 – 10 years
Motor vehicles   5 years
Leasehold improvements   Shorter of the lease terms or useful life
Schedule of Recognizing Revenue

The transaction price allocated to the remaining performance obligations (unsatisfied or partially unsatisfied) as at March 31, 2026 and 2025 and the expected timing of recognizing revenue are as follows:

 

    2026     2025  
Within one year   $ 40,959,513     $ 37,935,694  
More than one year but not more than two years     5,161,135       15,308,438  
More than two years     1,366,980       3,117,004  
    $ 47,487,628     $ 56,361,136  
Schedule of Interest Rate Profile of the Company's Borrowings

The following table details the interest rate profile of the Company’s borrowings of March 31, 2026 and 2025:

 

    2026     2025  
Fixed rate borrowings:            
Bank and other borrowings   $ 892,972     $ 514,138  
Finance lease liabilities, current     —       56,795  
Convertible notes     19,567,461       —  
                 
Floating rate borrowings:                
Bank overdrafts     201,671       —  
Bank and other borrowings     11,089,344       11,530,297