RELATED PARTY TRANSACTIONS

6 Months Ended

Sep. 30, 2024

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

5. RELATED PARTY TRANSACTIONS

Name of Related Parties	Relationship with the Company
Zhida Hong	President, CEO, and a director of the Company
Hongye Financial Consulting (Shenzhen) Co., Ltd.	A company controlled by CEO, Mr. Zhida Hong
Bihua Yang	A legal representative of XKJ
Dewu Huang	A legal representative of YBY, ceased to be related party at August 31, 2024 when YBY was disposed.
Jinlong Huang	Management of HSW

The Company leases Shenzhen XKJ office rent-free from Bihua Yang.

Hongye Financial Consulting (Shenzhen) Co., Ltd. provided guarantee to the consideration receivable of transfer of a debt security to a third party.

The Company had the following related party balances as of September 30, 2024 and March 31, 2024:

Amount due from related party	September 30, 2024		March 31, 2024
Zhida Hong (1)	$	2,847,417	$	2,154,759
Bihua Yang (2)		992,737		858,133
	$	3,840,154	$	3,012,892

Related party borrowings	September 30, 2024		March 31, 2024
Hongye Financial Consulting (Shenzhen) Co., Ltd.		40,527		170,967
Dewu Huang (3)		-		864,599
Jinlong Huang		137,223		111,179
	$	177,750	$	1,146,745

(1)	The increase of related party debt from Hong Zhida was short term loan to Hong Zhida, which is interest free and to be repaid in one year.
(2)	The increase of related party debt from Yang Bihua was mainly due to the cash paid in advance to Yang Bihua. During the quarter ended September 30, 2024, the Company provided a short term loan of approximately $0.31 million to Yang Bihua and received repayment of approximately $0.3 million from him.
(3)	The Company received financial support from Huang Dewu to fund company’s daily operation. The decrease is because YBY was disposed of in August 2024.

The borrowing balances with related parties are unsecured, non-interest bearing and repayable on demand.