Note 14 — Long-term loan Long-term loan consisted of the following: | | As of | | | As of | | | | March 31, | | | September 30, | | | | 2026 | | | 2025 | | Long-term loan, non-current portion | | (unaudited) | | | (audited) | | Xinmao Group Co., Ltd. | | | - | | | $ | 1,809,780 | | Total long-term loan, non-current portion | | | - | | | $ | 1,809,780 | |
The following table summarizes the loan commencement date, loan maturity date, and the effective annual interest rate of the unsecured long-term loan: | | Loan | | Loan | | Effective | | | | | | | commencement | | maturity | | interest | | | | | Long-term loans, non-current portion | | date | | date | | rate | | | Note | | Xinmao Group Co., Ltd. | | May 1, 2024 | | April 30, 2027 | | | 4.50 | % | | | 1 | |
1. | On January 1, 2024, the Company entered into a revolving loan of $5.0 million with a third party, with a flexible drawdown and repayment terms from May 1, 2024 to April 30, 2027, and with an annual interest of 4.5% per annum. This loan was fully repaid in March 2026 and the Company lent $2,598,033 to Xinmao Group Co., Ltd. as of March 31, 2026. |
For the six months ended March 31, 2026 and 2025, the interest expense was $7,277 and $71,876, respectively.
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