Related Party [Axis]
Hangzhou Longyun [Member]
Taikexi [Member]
Relatedpartyother [Member]
Equity Components [Axis]
Common Stock [Member]
AdditionalPaid-inCapital [Member]
Statutory Reserves [Member]
Retained Earnings [Member]
AOCI Attributable to Parent [Member]
Noncontrolling Interest [Member]
Income Tax Authority, Name [Axis]
Cayman Islands Tax Information Authority [Member]
Bvi [Member]
Inland Revenue, Hong Kong [Member]
Prc [Member]
Sale of Stock [Axis]
IPO [Member]
Jiaxing Yitou Shangma Investments Limited Partnership Company [Member]
Ownership [Axis]
Sweet Lollipop [Member]
Long Yun Hk [Member]
Concentration Risk Benchmark [Axis]
Sales Revenue, Net [Member]
Customer [Axis]
Customer One [Member]
Customer Two [Member]
Accounts Receivable [Member]
Customer Three [Member]
Customer Four [Member]
Property, Plant and Equipment, Type [Axis]
Leasehold improvements [Member]
Computer Equipment [Member]
Vehicles [Member]
Use Rights [Member]
Finite-Lived Intangible Assets by Major Class [Axis]
Computer Software, Intangible Asset [Member]
Financial Instrument [Axis]
Corporate Debt Securities [Member]
Types of Currency [Axis]
RMB [Member]
Customer Five [Member]
Fifteen customers [Member]
Yu Han Holding [Member]
Koulin Han [Member]
Hangzhou Dacheng Automotive Technology Service Co Ltd [Member]
Guanpeng [Member]
Shengyuan [Member]
Related Party Transaction [Axis]
Mr. Sun JianJun [Member]
HangZhou TianQi Network Technology Co. Ltd. [Member]
Dacheng Liantong [Member]
Investment Type [Axis]
Securities Investment [Member]
Range [Axis]
Minimum [Member]
Maximum [Member]
Office Equipment [Member]
Fair Value, Hierarchy [Axis]
Fair Value, Inputs, Level 1 [Member]
Fair Value, Inputs, Level 2 [Member]
Fair Value, Inputs, Level 3 [Member]
Related party investment -wealth management product [Member]
RMB [Member]
Sun Jianjun [Member]
Hangzhou Tianqi Network Technology Co Ltd [Member]
Mr. Hongyu Zhang [Member]
Hangzhou Qianlu Information Technology Co. Ltd. [Member]
Hangzhou Yuao Investment Management Partnership (Yuao) [Member]
Hangzhou Yuao [Member]
Leaseholds and Leasehold Improvements [Member]
China, Yuan Renminbi
Hong Kong, Dollars
Document and Entity Information [Abstract]
Entity Registrant Name
Entity Central Index Key
Amendment Flag
Current Fiscal Year End Date
Document Type
Document Period End Date
Document Fiscal Period Focus
Document Fiscal Year Focus
Entity Emerging Growth Company
Entity Well-known Seasoned Issuer
Entity Voluntary Filers
Entity Current Reporting Status
Entity Filer Category
Entity Ex Transition Period
Document Annual Report
Document Transition Report
Document Shell Company Report
Entity Shell Company
Entity Interactive Data Current
Entity Incorporation State Country Code
Entity File Number
Entity Common Stock, Shares Outstanding
Statement of Financial Position [Abstract]
ASSETS
Current assets
Cash and cash equivalents
Trade accounts receivable, net
Other receivables and prepayments
Prepaid tax
Short-term investments
Short-term investments - related party
Total current assets
Property, plant and equipment, net
Intangible assets, net
Right of use assets
Other assets
TOTAL ASSETS
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities
Accounts payable
Taxes payable
Accrued liabilities and other current liabilities
Related party payable
Right of use liabilities
Total current liabilities
Capital lease - non-current portion
TOTAL LIABILITIES
COMMITMENTS & CONTINGENCIES
Dragon Victory Stockholders' Equity
Ordinary Shares, $0.0001 par value, 500,000,000 shares authorized; 11,421,393 and 11,421,393 shares issued and outstanding as of March 31, 2020 and 2019, respectively
Additional paid-in capital
Statutory reserves
(Accumulated deficits) / Retained earnings
Accumulated other comprehensive loss
Total Dragon Victory stockholders' equity
Noncontrolling interest
TOTAL EQUITY
TOTAL LIABILITIES AND STOCHOLDERS' EQUITY
Ordinary shares, par value
Ordinary shares, authorized
Ordinary shares, issued
Ordinary shares, outstanding
Income Statement [Abstract]
Revenues
Operating expenses
Selling, general and administrative expenses
Total operating expenses
Income from operations
Other income (expenses):
Other income
Other expenses
Interest income
Interest expense
Total other income
(Loss) Income before tax
Income tax
Net (loss) income including noncontrolling interest
Less: loss attributable to noncontrolling interest
Net (loss) income attributable to Dragon Victory
Net (loss) income including noncontrolling interest
Other comprehensive (loss) income:
Foreign currency translation loss
Comprehensive (loss) income including noncontrolling interest
Comprehensive loss attributable to noncontrolling interest
Comprehensive (loss) income attributable to Dragon Victory
(Loss) Earnings per share attributable to Dragon Victory common stockholders
Basic
Diluted
Weighted average shares outstanding-Dragon Victory
Basic
Diluted
Statement [Table]
Statement [Line Items]
Other Comprehensive Income Location [Axis]
Ordinary shares
Additional Paid-in Capital
Statutory Reserves
Retained Earnings
Accumulated Other Comprehensive Income
Noncontrolling Interest
Balance
Balance, shares
Net income (loss)
Capital contributions by owners
Appropriations of retained earnings
Cumulative translation adjustment
Reverse stock split (1-for-10)
Reverse stock split (1-for-10), shares
Proceeds from sale of Common Stock
Proceeds from sale of Common Stock, shares
Adjustment as recapitalization from VIE
Balance
Balance, shares
Statement of Cash Flows [Abstract]
Cash flows from operating activities
Net income (loss) including noncontrolling interest
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities
Depreciation and amortization
Bad debt expense
Impairment on investments
Write off leasehold improvements
Changes in assets and liabilities
Increase in accounts receivables
(Increase)/decrease in other receivables and prepayments
(Increase)/decrease in related party receivables
Decrease in other current assets
Increase/(decrease) in accounts payables
Increase in taxes payable
(Decrease)/increase in accrued liabilities and other current liabilities
Net cash (used in)/provided by operating activities
Cash flows from investing activities
Disposal/(acquisitions) of investments
(Purchase)/disposal of equipment and improvements
Decrease in rent and utility deposits
Purchase of intangible assets
Net cash (used in)/provided by investing activities
Cash flows from financing activities
Proceeds from issuance of ordinary shares
Capital contribution from owners
Increase in related party payable
Net cash provided by financing activities
Net Increase/(decrease) of Cash and Cash Equivalents
Effect of foreign currency translation on cash and cash equivalents
Cash and cash equivalents - beginning of year
Cash and cash equivalents - end of year
Supplemental cash flow disclosures
Interest received
Interest paid
Income taxes (refund)/paid
NON-CASH FINANCING AND INVESTING ACTIVITIES
Acquisition of fixed assets through capital lease
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BUSINESS AND ORGANIZATION
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Credit Loss [Abstract]
ACCOUNTS RECEIVABLE
Receivables [Abstract]
OTHER RECEIVABLES AND PREPAYMENTS
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT
Goodwill and Intangible Assets Disclosure [Abstract]
INTANGIBLE ASSET
Leases [Abstract]
LEASE
Debt Disclosure [Abstract]
SHORT-TERM INVESTMENTS AND SHORT-TERM INVESTMENTS, RELATED PARTY
Investments in Entities and its Valuations [Abstract]
INVESTMENTS IN ENTITIES AND ITS VALUATIONS
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS
Equity [Abstract]
CAPITAL & EQUITY
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE
Statement of Operations - Details [Abstract]
STATEMENT OF OPERATIONS - DETAILS
Risks and Uncertainties [Abstract]
CONCENTRATION, GEOGRAPHIC
Segment Reporting [Abstract]
SEGMENT REPORTING
Income Tax Disclosure [Abstract]
INCOME TAXES
Restricted Net Assets and Statutory Reserves [Abstract]
RESTRICTED NET ASSETS AND STATUTORY RESERVES
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS & CONTINGENCIES
Subsequent Events [Abstract]
SUBSEQUENT EVENTS
Principles of Presentation
Principles of Consolidation
Noncontrolling interests
Use of Estimates
Foreign Currency Translation
Cash and cash equivalents
Accounts Receivable and Allowance for Doubtful Accounts
Investments
Property and Equipment
Intangible Assets with Definite Lives
Impairment of long-lived assets other than goodwill
Leases
Revenue Recognition
Fair Value of Financial Instruments
Advertising
Income Taxes
Earnings (Loss) Per Common Share
Comprehensive Income (Loss)
Segment Reporting
Commitments and Contingencies
Recent Accounting Pronouncements
Schedule of consolidated financial statements
Schedule of exchange rate used for translation
Schedule of property and equipment estimated useful lives
Schedule of intangible assets and its estimated useful lives
Schedule of fair value of financial instruments
Schedule of accounts receivable
Schedule of allowance for doubtful accounts
Schedule of other receivables and prepayments
Schedule of property and equipment
Schedule of intangible asset
Schedule of future lease payments under operating leases
Investment Holdings [Table]
Summary of Investment Holdings [Line Items]
Investment securities [Member]
Schedule of amortized cost and fair value of investment securities held-to-maturity
Schedule of investments
Schedule of related parties' transactions
Schedule of short-term investment - related party
Schedule of other related parties' payables
Schedule of basic and diluted net income per share
Schedule of operations details
Schedule of the the results of operations and the financial position of the Company's operating segments
Schedule of reconciles the statutory rates to the Company's effective tax rate
Schedule of income tax expenses benefits
Business And Organization [Table]
Business And Organization [Line Items]
Yu Han holding [Member]
Koulin Han holding [Member]
Hangzhou Taikexi Dacheng Automotive Technology Service Co., Ltd [Member]
Business and Organization (Textual)
Equity ownership interest
Description of equity ownership interests
Financial Position at:
Current assets
Cash and cash equivalents
Investment
Investment - related party
Amounts due from non-VIE subsidiaries of the Company
Other assets
Total current assets
Non-current assets
Other assets
Total Assets
Current liabilities
Accounts and other payable
Customer advances
Amounts due to related party
Amounts due to non-VIE subsidiaries of the Company
Provision for taxation
Total Liabilities
Results of Operations:
Net revenues
Net loss
Net cash provided by operating activities
Net cash used in investing activities
Net cash provided by financing activities
TypesOfCurrencyAxis [Axis]
Period/year end exchange rate
Period/annual average exchange rate
Property, Plant and Equipment [Table]
Property, Plant and Equipment [Line Items]
Statistical Measurement [Axis]
Long-Lived Tangible Asset [Axis]
Motor Vehicle [Member]
Property and equipment useful life
Schedule of Finite-Lived Intangible Assets [Table]
Finite-Lived Intangible Assets [Line Items]
Software [Member]
Intangible assets estimated useful lives
Fair Value, by Balance Sheet Grouping [Table]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value Hierarchy and NAV [Axis]
Carried at (amortized) cost:
Corporate debt securities
Related party investment -wealth management product
Accounting Policies [Table]
Accounting Policies [Line Items]
Summary of Significant Accounting Policies (Textual)
Ownership percentage
Allowance for doubtful accounts
Advertising expenses
Cost method investments, ownership percentage
Equity method investment, ownership percentage
Impairment of long-lived assets
Number of reportable segments
Number of operating segments
Operating lease right-of-use assets
Operating lease right-of-use assets and liabilities
Accounts receivable
Allowance for doubtful accounts
Accounts receivable, net
Beginning balance
Amount charged to expenses
Amounts written off
Ending balance
Referral services
Advance to service providers
Deposits for leases due within one operating period
Interest receivables
Others
Other Receivables and Prepayments
Allowance for doubtful accounts
Total
Computer and equipment [Member]
Automobiles [Member]
Capitalized lease [Member]
Property plant and equipment, gross
Less-Accumulated depreciation
Total, net
Property and Equipment (Textual)
Depreciation expense
Finite lived intangible assets, gross
Less-Accumulated Amortization
Total, net
Impairment Effects on Earnings Per Share [Table]
Impairment Effects on Earnings Per Share [Line Items]
Asset Class [Axis]
Finite-Lived Intangible Assets [Member]
Intangible Asset (Textual)
Amortization expense
Year ending March 31,
2021
2022
2023
2024
2025
Thereafter
Total future lease payments
Less: Imputed interest
Total lease liability balance
Lease (Textual)
Weighted average remaining lease term
Weighted average discount rate
Operating lease cost
Short-term lease cost
Variable lease cost
Accrued rent expenses and penalties
Operating lease term
Operating lease expiry
Security deposit
Debt Securities, Held-to-maturity [Table]
Schedule of Held-to-maturity Securities [Line Items]
Corporate debt securities [Member]
Investment Securities Held-to-Maturity, Amortized Cost
Investment Securities Held-to-Maturity, Unrealized Gains
Investment Securities Held-to-Maturity, Unrealized Losses
Estimated fair value
Due in one year or less
Due after one year through five years
Due after five years through ten years
Due after ten years
Total
Short-Term Investments and Short-Term Investments, Related Party (Textual)
Impairment charges
Investments earned interest
Investment securities maturity range, description
Total, net
Investments in Entities and its Valuations (Textual)
Percentage of ownership interest acquired
Payment of cash consideration
Impairment loss on investment
Investment income
Other income
Investment reduced value
Percentage of remaining investment ownership
Operational expenses value
Cost method investments
Schedule of Related Party Transactions, by Related Party [Table]
Related Party Transaction [Line Items]
Mr. Jianjun Sun [Member]
HangZhou TianQi Network Technology Co. Ltd. [Member]
Relationship with the Company
Other related parties' receivables
Related Party Transactions (Textual)
Income from investment, percentage
Accumulated Other Comprehensive Income (Loss) [Table]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Capital & Equity (Textual)
Proceeds for ordinary shares
Capital contributions
Outstanding ordinary shares, description
Basic (Loss)/Earnings Per Share Numerator
(Loss) Profit for the year attributable to owners of the Company
Diluted (Loss)/Earnings Per Share Numerator
(Loss) Profit for the year attributable to owners of the Company
Basic (Loss)/Earnings Per Share Denominator
Original shares:
Additions from actual events:
- Issuance of common stock, weighted
Basic weighted average shares outstanding
Diluted (Loss)/Earnings Per Share Denominator
Basic weighted average shares outstanding
Dilutive shares: Potential additions from dilutive events:
- None
Diluted Weighted Average Shares Outstanding:
(Loss)/Earnings Per Share
- Basic
- Diluted
Weighted Average Shares Outstanding
- Basic
- Diluted
Revenues
Crowdfunding
Incubation Service
Procurement Services
Platform Services
Total
Operating Expenses
Professional Fees
Wages & Benefits
Travel Expenses
Depreciation & Amortization
Data Services
Rent Expense
Advertising
Business Taxes and Surcharges
Meals & Entertainment
Other
Promotional expense
Impairment loss on investments
Provision for doubtful debt
Total
Schedule of Revenue by Major Customers, by Reporting Segments [Table]
Concentration Risk [Line Items]
Concentration Geographic (Textual)
Concentration Risk, Percentage
Number of segments
Number of customers
Longyun [Member]
Other [Member]
Results of Operations
Revenue
Operating expenses
Other income (expenses)
Earnings (loss) before tax
Taxes
Net income
Income (loss) attributable to Dragon Victory
Financial Position
Current assets
Non-current assets
Total assets
Current liabilities
Non-current liabilities
Total liabilities
Net assets
Statutory rates in Cayman Islands and BVI
Statutory rates in Hong Kong
Statutory rates in PRC
Temporary tax holiday in the PRC
Foreign earned income not subject to taxes in the Cayman Island
Additional accruals in the PRC
Effect of valuation allowance
Effective income tax rate
Operating Loss Carryforwards [Table]
Operating Loss Carryforwards [Line Items]
Cayman Islands [Member]
BVI [Member]
Hong Kong [Member]
PRC [Member]
Income (loss) before taxes
Total income (loss) before taxes
Provision for taxes (benefits):
Provision for income taxes (benefits)
Deferred tax assets:
Deferred tax asset
Less: Valuation allowance
Currency effect
Deferred tax assets, net
Total provision for taxes
Effective tax rate
Effect of tax holiday inside the PRC on basic earnings per share
Income Taxes (Textual)
Deferred tax asset
Operating loss carryforwards, description
Restricted Net Assets and Statutory Reserves (Textual)
Statutory reserve percentage
Leasehold Improvements Additional [Member]
Commitments and Contingencies (Textual)
Capital commitments, description
Leasehold improvements, gross
Lease agreements description
Accrued rent expenses and penalties
Incurred interest expenses
Repaid by Mr. Yu Han
Accumulated unpaid amount
Fines and penalties description
Non-cancellable capital lease agreements expired date
Retained earnings appropriated for loss.
Amount of bad debt expenses.
Business and organization.
Business and organization.
Business and organization textual.
The value of business taxes and surcharges.
Description of the nature and terms of capital commitment.
Corporate debt securities.
The percentage of cost method investments.
The amount of crowdfunding.
The value of deferred tax assets, currency effect.
The percent effective income tax rate reconciliation additional.
Percentage of domestic federal statutory tax rate applicable to pretax income (loss).
Effective income tax rate reconciliation temporary tax rate during the period.
Equity method remaining investment ownership percentage.
Exchange rate used for translation.
The description of fines and penalties description.
Han Yu member.
HangZhou LongYun member.
HangZhou TianQi Network Technology Co. Ltd member.
Impairment on investments.
Increase in other current assets.
Intangible assets estimated useful lives.
Interest received.
Investment reduced value.
Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities.
Investments in entities and its valuations textual.
JiaXing YiTou ShangMa investments limited partnership company member.
Lease agreements description.
It represents the amount of Write off of leasehold improvements.
Liao Xu member.
Long Yun HK
The value of meals and entertainment.
Non cancellable capital lease agreements expired date.
The digits represents number of cutomers.
The digits represents number of segments.
Amount of operational expenses.
Other investment income.
Tabular disclosure of other receivables and prepayments.
Other related parties payables.
Other related parties receivables.
It represents the amount of procurement services.
Property and equipment estimated useful lives.
The amount of rent expenses.
The entire disclosure of Restricted Net Assets and Statutory Reserves.
The percent reperesent statutory reserve percentage.
Number of shares proceeds from sale of Common Stock.
Value of shares of proceeds from sale of common stock.
Reduction in the number of shares value of during the period as a result of a reverse stock split.
Sun Jianjun member.
Sun Mang Yue member.
mount of consolidated variable interest entity's (VIE) revenue.
Amount of consolidated variable interest entity's (VIE), net income.
Yuan Qiang member.
Related party investment -wealth management product.
Income from investment, percentage.
Allowance for doubtful accounts.
Other receivables and prepayments
Right of use assets.
Concentration Geographic And Segment Reporting Textual [Abstract]
Assets, Current
Assets
Liabilities, Current
Liabilities
Stockholders' Equity Attributable to Parent
Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest
Liabilities and Equity
Operating Expenses
Operating Income (Loss)
Other Nonoperating Expense
Interest Expense
Net Income (Loss) Attributable to Parent
Comprehensive Income (Loss), Net of Tax, Including Portion Attributable to Noncontrolling Interest
Comprehensive Income (Loss), Net of Tax, Attributable to Parent
Shares, Outstanding
Impairment On Investments
Increase (Decrease) in Accounts Receivable
Increase (Decrease) in Accounts and Other Receivables
Increase (Decrease) in Due from Related Parties, Current
Lease Agreements Description
Net Cash Provided by (Used in) Operating Activities
Increase (Decrease) in Balancing Account, Utility
Payments to Acquire Intangible Assets
Net Cash Provided by (Used in) Investing Activities
Net Cash Provided by (Used in) Financing Activities
Cash and Cash Equivalents, Period Increase (Decrease), Excluding Exchange Rate Effect
Commitments and Contingencies Disclosure [Text Block]
Cash and Cash Equivalents, Policy [Policy Text Block]
VaraiableInterestEntityCashAndCashEquivalents
VaraiableInterestEntityOtherAssets
VaraiableInterestEntityNoncurrentOtherAssets
Accounts Receivable, Allowance for Credit Loss
AllowanceForDoubtfulAccounts
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment
Debt Securities, Held-to-maturity
Other Investment Income
DilutedLossProfitForYearAttributableToOwnersOfCompany
DilutedWeightedAverageSharesOutstanding
CurrentAssets
NoncurrentAsset
CurrentLiabilities
Deferred Tax Assets, Valuation Allowance
Deferred Tax Assets, Net of Valuation Allowance
Operating Leases, Rent Expense, Net