Concentrations

6 Months Ended

Mar. 31, 2025

Concentrations [Abstract]

CONCENTRATIONS

NOTE 12 — CONCENTRATIONS

A majority of the Company’s revenue and expense transactions are denominated in RMB and a significant portion of the Company’s assets and liabilities are denominated in RMB. RMB is not freely convertible into foreign currencies. In the PRC, foreign exchange transactions are required by law to be transacted only by authorized financial institutions at exchange rates set by the People’s Bank of China (“PBOC”). Remittances in currencies other than RMB may require certain supporting documentation in order to effect the remittance.

As of March 31, 2025 and September 30, 2024, $12,431 and $231,811 of the Company’s cash was deposited at financial institutions outside of PRC, $11,109,782 and $7,895,710 of the Company’s cash was on deposit at financial institutions in mainland China, and $1,274 and $1,540 of the Company’s cash was on deposit at financial institutions in Hong Kong. None of the Company cash deposited at financial institutions maintain insurance to cover bank deposits in the event of bank failure. However, the Company has not experienced any losses in such accounts and believes it is not exposed to any risks on its cash on bank accounts. For the six months ended March 31, 2025 and 2024, the Company’s substantial assets were located in the PRC and all of the Company’s revenues were derived from its subsidiaries located in the PRC.

For the six months ended March 31, 2025 and 2024, one customer accounted for approximately 57.1% and 53.7% of the Company’s total revenue. Sales to the subsidiaries of this customer accounted for approximately 9.9% and 5.7% of the Company’s total revenue for the six months ended March 31, 2025 and 2024, respectively. In aggregate, sales to this customer and its subsidiaries represent approximately 67.0% and 59.4% of the Company’s total revenue for the six months ended March 31, 2025 and 2024, respectively.

As of March 31, 2025, four customers accounted for 36.5%, 23.4%, 20.6% and 10.9% of the accounts receivable balance. As of September 30, 2024, four customers accounted for 28.3%, 24.4%, 17.5% and 10.6% of the accounts receivable balance.

For the six months ended March 31, 2025 and 2024, no supplier accounted for more than 10% of the Company’s total purchases, respectively.

As of March 31, 2025 and September 30, 2024, one supplier accounted for 13.8% and 10.3% of the accounts payable balance, respectively.