| PARENT COMPANY INFORMATION |
NOTE
22 – PARENT COMPANY INFORMATION
Pursuant
to the requirements of Rule 12-04(a), 5-04(c) and 4-08(e)(3) of Regulation S-X, the condensed financial information of the parent company
shall be filed when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets as of the end of the
most recently completed fiscal year. The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance
with such requirement and concluded that it was applicable to the Company as the restricted net assets of the Company’s PRC subsidiary
exceeded 25% of the consolidated net assets of the Company. Therefore, the condensed financial statements for the parent company are
included herein.
For
purposes of the above test, restricted net assets of consolidated subsidiaries shall mean that amount of the Company’s proportionate
share of net assets of consolidated subsidiaries (after intercompany eliminations) which as of the end of the most recent fiscal year
may not be transferred to the parent company by subsidiaries in the form of loans, advances or cash dividends without the consent of
a third party.
The
condensed financial information of the parent company was prepared using the same accounting policies as set out in the Company’s
condensed consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries.
Such investment is presented on the condensed balance sheets as “Investment in subsidiaries” and the respective profit or
loss as “Equity in earnings of subsidiaries” on the condensed statements of operations.
As
of March 31, 2026 and September 30, 2025, and six months ended March 31, 2026 and 2025, there were no material contingencies, significant
provisions for long-term obligations, or guarantees of the Company, except for those which have been separately disclosed in the condensed
consolidated financial statements, if any.
PARENT
COMPANY BALANCE SHEETS
SCHEDULE OF PARENT COMPANY BALANCE SHEETS
| | |
March 31, 2026 | | |
September 30, 2025 | |
| | |
(Unaudited) | | |
| |
| ASSETS | |
| | | |
| | |
| Current assets: | |
| | | |
| | |
| Cash and cash equivalents | |
$ | 2,890,744 | | |
$ | 3,497,762 | |
| Amounts due from a subsidiary | |
| 1,600,000 | | |
| 1,500,000 | |
| Total current assets | |
| 4,490,744 | | |
| 4,997,762 | |
| | |
| | | |
| | |
| Non-current assets: | |
| | | |
| | |
| Investment in subsidiaries | |
| 40,085,401 | | |
| 40,434,973 | |
| Total non-current assets | |
| 40,085,401 | | |
| 40,434,973 | |
| | |
| | | |
| | |
| Total Assets | |
$ | 44,576,145 | | |
$ | 45,432,735 | |
| | |
| | | |
| | |
| LIABILITIES AND EQUITY | |
| | | |
| | |
| | |
| | | |
| | |
| LIABILITIES | |
$ | - | | |
$ | - | |
| | |
| | | |
| | |
| COMMITMENTS AND CONTINGENCIES | |
| - | | |
| - | |
| | |
| | | |
| | |
| EQUITY | |
| | | |
| | |
| Ordinary shares Ordinary shares (par value $0.001 per share, 50,000,000 shares authorized; 17,025,000 and 17,025,000 shares issued and outstanding as of September 30, 2025.) | |
| - | | |
| 17,025 | |
| Class A Ordinary Shares (par value $0.001 per share, 467,290,000 shares authorized, 4,315,000 shares issued and outstanding as of March 31, 2026) | |
| 4,315 | | |
| - | |
| Class B Ordinary Shares (par value $0.001 per share, 32,710,000 shares authorized, 12,710,000 shares issued and outstanding as of March 31, 2026) | |
| 12,710 | | |
| - | |
| Ordinary Shares, value | |
| 12,710 | | |
| - | |
| Subscription receivable | |
| (15,500 | ) | |
| (15,500 | ) |
| Additional paid-in capital | |
| 6,526,821 | | |
| 6,544,298 | |
| Statutory reserves | |
| 2,592,642 | | |
| 2,076,469 | |
| Retained earnings | |
| 35,784,864 | | |
| 38,207,918 | |
| Accumulated other comprehensive loss | |
| (329,707 | ) | |
| (1,397,475 | ) |
| Total Equity | |
| 44,576,145 | | |
| 45,432,735 | |
| | |
| | | |
| | |
| Total Liabilities and Equity | |
$ | 44,576,145 | | |
$ | 45,432,735 | |
PARENT
COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS
SCHEDULE OF PARENT
COMPANY STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
| | |
2026 | | |
2025 | |
| | |
Six Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Equity in loss of subsidiaries | |
$ | (1,329,721 | ) | |
$ | (372,214 | ) |
| | |
| | | |
| | |
| Operating expenses: | |
| | | |
| | |
| Selling and marketing | |
| (35,000 | ) | |
| - | |
| General and administrative | |
| (403,835 | ) | |
| (288,023 | ) |
| Total Operating expenses | |
| (438,835 | ) | |
| (288,023 | ) |
| | |
| | | |
| | |
| Other (expenses) income: | |
| | | |
| | |
| Other (expenses) income, net | |
| (68,183 | ) | |
| 43,346 | |
| Total other (expenses) income, net | |
| (68,183 | ) | |
| 43,346 | |
| | |
| | | |
| | |
| Net loss | |
$ | (1,836,739 | ) | |
$ | (616,891 | ) |
| Foreign currency translation gain (loss) | |
| 1,067,768 | | |
| (928,194 | ) |
| Comprehensive loss | |
$ | (768,971 | ) | |
$ | (1,545,085 | ) |
PARENT
COMPANY STATEMENTS OF CASH FLOWS
SCHEDULE OF PARENT COMPANY STATEMENTS OF CASH FLOWS
| | |
2026 | | |
2025 | |
| | |
Six Months Ended March 31, | |
| | |
2026 | | |
2025 | |
| | |
(Unaudited) | | |
(Unaudited) | |
| Cash flows from operating activities | |
| | | |
| | |
| Net loss | |
$ | (1,836,739 | ) | |
$ | (616,891 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: | |
| | | |
| | |
| Equity in loss of subsidiaries | |
| 1,329,721 | | |
| 372,214 | |
| Changes in other current assets | |
| - | | |
| (100 | ) |
| Changes in due from a subsidiary | |
| (100,000 | ) | |
| | |
| Net cash used in operating activities | |
| (607,018 | ) | |
| (244,777 | ) |
| | |
| | | |
| | |
| Cash flows from financing activities: | |
| | | |
| | |
| Net proceeds from initial public offering | |
| - | | |
| 5,380,488 | |
| Net cash provided by financing activities | |
| - | | |
| 5,380,488 | |
| | |
| | | |
| | |
| Net change in cash | |
| (607,018 | ) | |
| 5,135,711 | |
| Cash at the beginning of the period | |
| 3,497,762 | | |
| - | |
| Cash at the end of the period | |
$ | 2,890,744 | | |
$ | 5,135,711 | |
|