|
Q4 FY2026
As of Mar 31, 2026
|
Q4 FY2025
As of Mar 31, 2025
|
Q4 FY2024
As of Mar 31, 2024
|
|
|---|---|---|---|
| CURRENT ASSETS: | |||
| Cash and cash equivalents (including amounts of the consolidated VIEs of $3,525,903 and $3,745,251 as of March 31, 2026 and 2025, respectively) | |||
| Restricted cash (including amounts of the consolidated VIEs of $145 and $138 as of March 31, 2026 and 2025, respectively) | |||
| Short-term investments (including amounts of the consolidated VIEs of $1,311,939 and $3,093,976 as of March 31, 2026 and 2025, respectively) | |||
| Accounts receivable, net | |||
| Nonrelated Party | |||
| Related Party | |||
| Advance to vendors, net | |||
| Nonrelated Party | |||
| Related Party | |||
| Inventories, net (including amounts of the consolidated VIEs of $1,593,649 and $1,584,425 as of March 31, 2026 and 2025, respectively) | |||
| Due from related parties (including amounts of the consolidated VIEs of $1,005,624 and $1,240,828 as of March 31, 2026 and 2025, respectively) | |||
| Related Party | |||
| Total due from related parties (including amounts of the consolidated VIEs of $1,005,624 and $1,240,828 as of March 31, 2026 and 2025, respectively) | |||
| Long-term accounts receivable, net - current portion (including amounts of the consolidated VIEs of $nil and $82,681 as of March 31, 2026 and 2025, respectively) | |||
| Long-term other receivable, net - current portion (including amounts of the consolidated VIEs of $nil and $89,050 as of March 31, 2026 and 2025, respectively) | |||
| Finance receivables, net - current portion (including amounts of the consolidated VIEs of $58,657 and $70,801 as of March 31, 2026 and 2025, respectively) | |||
| Prepaid expenses and other current assets, net (including amounts of the consolidated VIEs of $1,848,517 and $1,112,065 as of March 31, 2026 and 2025, respectively) | |||
| TOTAL CURRENT ASSETS | |||
| Property and equipment, net (including amounts of the consolidated VIEs of $279,928 and $352,212 as of March 31, 2026 and 2025, respectively) | |||
| Intangible assets, net (including amounts of the consolidated VIEs of $nil and $nil as of March 31, 2026 and 2025, respectively) | |||
| Right-of-use assets, net (including amounts of the consolidated VIEs of $78,250 and $104,390 as of March 31, 2026 and 2025, respectively) | |||
| Deferred tax assets, net (including amounts of the consolidated VIEs of $6,989 and $5,613 as of March 31, 2026 and 2025, respectively) | |||
| Long-term receivable, net (including amounts of the consolidated VIEs of $197,005 and $327,169 as of March 31, 2024 and 2023, respectively) | |||
| Long-term accounts receivable, net - non-current portion (including amounts of the consolidated VIEs of $nil and $197,005 as of March 31, 2025 and 2024, respectively) | |||
| Long-term other receivable, net - non-current portion (including amounts of the consolidated VIEs of $375,228 and $591,803 as of March 31, 2026 and 2025, respectively) | |||
| Finance receivables, net - non-current portion (including amounts of the consolidated VIEs of $41,077 and $46,852 as of March 31, 2026 and 2025, respectively) | |||
| Other non-current assets, net (including amounts of the consolidated VIEs of $nil and $374,201 as of March 31, 2026 and 2025, respectively) | |||
| TOTAL NONCURRENT ASSETS | |||
| TOTAL ASSETS | |||
| CURRENT LIABILITIES: | |||
| Short-term bank loan (including amounts of the consolidated VIEs of $179,611 and $137,781 as of March 31, 2026 and 2025, respectively) | |||
| Accounts payable | |||
| Nonrelated Party | |||
| Related Party | |||
| Convertible note payable (including amounts of the consolidated VIEs of $nil and $nil as of March 31, 2026 and 2025, respectively) | |||
| Derivative liability (including amounts of the consolidated VIEs of $nil and $nil as of March 31, 2026 and 2025, respectively) | |||
| Promissory note payable (including amounts of the consolidated VIEs of $nil and $nil as of March 31, 2026 and 2025, respectively) | |||
| Deferred revenue (including amounts of the consolidated VIEs of $1,072,663 and $876,905 as of March 31, 2026 and 2025, respectively) | |||
| Payroll payable (including amounts of the consolidated VIEs of $288,746 and $223,035 as of March 31, 2026 and 2025, respectively) | |||
| Taxes payable (including amounts of the consolidated VIEs of $260,600 and $251,185 as of March 31, 2026 and 2025, respectively) | |||
| Due to related parties (including amounts of the consolidated VIEs of $102,639 and $121,825 as of March 31, 2026 and 2025, respectively) | |||
| Related Party | |||
| Total due to related parties (including amounts of the consolidated VIEs of $102,639 and $121,825 as of March 31, 2026 and 2025, respectively) | |||
| Accrued expenses and other current liabilities (including amounts of the consolidated VIEs of $109,460 and $90,676 as of March 31, 2026 and 2025, respectively) | |||
| Operating lease liabilities - current portion (including amounts of the consolidated VIEs of $187,325 and $150,615 as of March 31, 2026 and 2025, respectively) | |||
| TOTAL CURRENT LIABILITIES | |||
| Operating lease liabilities - non-current portion (including amounts of the consolidated VIEs of $27,222 and $64,797 as of March 31, 2026 and 2025, respectively) | |||
| Due to a related party - non-current | |||
| Nonrelated Party | |||
| Related Party | |||
| Total due to a related party - non-current | |||
| Deferred tax liabilities (including amounts of the consolidated VIEs of $5,971 and $6,413 as of March 31, 2026 and 2025, respectively) | |||
| Long-term loan (including amounts of the consolidated VIEs of $nil and $nil as of March 31, 2026 and 2025, respectively) | |||
| TOTAL NONCURRENT LIABILITIES | |||
| TOTAL LIABILITIES | |||
| COMMITMENTS AND CONTINGENCIES | |||
| SHAREHOLDERS’ EQUITY | |||
| Ordinary shares, value | |||
| Class A Ordinary Shares | |||
| Class B Ordinary Shares | |||
| Additional paid-in capital | |||
| Statutory reserves | |||
| Accumulated deficits | |||
| Accumulated other comprehensive loss | |||
| TOTAL SHAREHOLDERS’ EQUITY | |||
| Non-controlling interest | |||
| TOTAL EQUITY | |||
| TOTAL LIABILITIES AND EQUITY |
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