| BANK LOANS |
NOTE
13 –BANK LOANS
The
loans of the Company consisted of the following:
SCHEDULE OF BANK LOANS
| | |
March 31, 2026 | | |
|
| | |
Principal
Amount | | |
Annual
Interest Rate | | |
Contract term |
| | |
(Unaudited) | | |
| | |
|
| Industrial and Commercial Bank (1) | |
$ | 1,445,212 | | |
| 2.35 | % | |
2026-03-16- 2027-03-15 |
| Industrial and Commercial Bank (2) | |
| 1,445,212 | | |
| 2.35 | % | |
2026-03-25- 2027-03-19 |
| Total loans | |
$ | 2,890,424 | | |
| | | |
|
| Less: current portion | |
$ | 2,890,424 | | |
| | | |
|
| Long-term loans | |
$ | - | | |
| | | |
|
| | |
September 30, 2025 | | |
|
| | |
Principal
Amount | | |
Annual
Interest Rate | | |
Contract term |
| Bank of China (3) | |
$ | 253,326 | | |
| 3.35 | % | |
2024/10/16-2025/10/15 |
| Industrial and Commercial Bank (4) | |
| 1,407,360 | | |
| 2.45 | % | |
2025/3/18-2026/03/17 |
| Industrial and Commercial Bank (5) | |
| 1,407,360 | | |
| 2.45 | % | |
2025/3/25-2026/03/24 |
| Total loans | |
| 3,068,046 | | |
| | | |
|
| Less: current portion | |
| 3,068,046 | | |
| | | |
|
| Long-term loans | |
$ | - | | |
| | | |
|
| (1) |
On
March 16, 2026, the Company obtained a loan of RMB 10 million ($1,445,212) from Industrial and Commercial Bank of China Beijing Yayuncun
Sub-branch, which is due March 15, 2027. |
| (2) |
On
March 25, 2026, the Company obtained a loan of RMB 10 million ($1,445,212) from Industrial and Commercial Bank of China Beijing Yayuncun
Sub-branch, which is due March 19, 2027. |
| (3) |
On
November 21, 2023, the Company obtained a loan of RMB 2 million ($281,472) from Bank of China Chengdu Hi-Tech Industrial Development
Zone Sub-branch, which was due November 20, 2024. The loan was guaranteed by Li Hongliang, chief executive officer of the Company.
The Company repaid RMB 100,000 ($14,074) in October, 2024, refinanced RMB 1,900,000 ($267,398) and extended the due date to October
15, 2025. The Company repaid RMB 100,000 ($14,074) and RMB 1,800,000 ($253,326) on September 16, 2025 and October 16, 2025, respectively. |
| (4) |
On
March 18, 2025, the Company obtained a loan of RMB 10 million ($1,407,360) from Industrial and Commercial Bank of China Beijing Yayuncun
Sub-branch, which was due March 17, 2026. |
| (5) |
On
March 25, 2025, the Company obtained a loan of RMB 10 million ($1,407,360) from Industrial and Commercial Bank of China Beijing Yayuncun
Sub-branch, which was due March 24, 2026. |
|