RELATED PARTY TRANSACTIONS

12 Months Ended

Mar. 31, 2025

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS

NOTE 7 - RELATED PARTY TRANSACTIONS

On December 18, 2019, the Company signed a Letter of intent for Equity Acquisition (the “LOI Agreement”) as part of a joint venture plan between the Company and Ji’an Chengpin Mining Co., Ltd, a third-party company. The Company received $125,334 (RMB 910,000) from the acquiree as earnest money deposit to secure the transfer of Mr. Jiang Libin’ shares as part of the LOI Agreement. On July 24, 2020, the LOI Agreement was terminated by all parties and the earnest money deposit of $125,334 (RMB 910,000) was not required to be returned to the acquiree according pursuant to the Termination Agreement. As a result, the earnest money deposit was reclassified as amount payable to Mr. Jiang. The amounts are due on demand, non-interest bearing, and unsecured.

The Company leased part of its office to Shenzhen Yinfu Guohui Sports Development Co., Ltd, a related party of the Company from October 1, 2023 to September 30, 2025. The Company received $67,625 (RMB491,000) in total, of which $33,258 (RMB 240,000) was recognized as other income in the Income Statement for the year ended March 31, 2025, and the remaining balance was $18,043 as of March 31, 2025.

Mr. Jiang, Libin, our former President and Director, owned 27% share of Shenzhen Yinfu Guohui Sports Development Co., Ltd.and served as the Legal Representative.

During the year ended March 31, 2025, Mr. Jiang, Libin, the former President and a director of the Company, had advanced the Company $66,009 for operating expenses, and received $0 from the Company as repayment. These advances have been formalized by non-interest-bearing demand notes.

As of March 31, 2025, Mr. Jiang, Libin waived all his debts to the company, totalling $1,553,641, and all of his salary receivable from the Company in the amount of $550,121.

As of March 31, 2025, the accrued salary payable to Mr. Jiang Libin and Mr. Huang Jing were $0 and $11,740 respectively.

As of March 31, 2025 and 2024, the Company owed $0 and $1,533,229 to Mr. Jiang, Libin respectively.

The amounts due to related parties are no fixed terms of payment, non-interest bearing, and unsecured.

Due to related parties was summarized as follows.

	March 31, 2025		March 31, 2024
Salary payable to Mr. Jiang, Libin	$	-	$	550,167
Salary payable to Mr. Huang Jing		11,740		12,919
Borrowing from Mr. Jiang, Libin		-		1,533,229
Advance received from Shenzhen Yinfu Guohui Sports Development Co., Ltd.		18,043		-
	$	29,783	$	2,096,315