2023 Q3 Form 20-F Financial Statement
#000121390023061297 Filed on July 31, 2023
Income Statement
Concept | 2023 Q3 | 2023 Q1 | 2023 |
---|---|---|---|
Revenue | $3.648M | $5.240M | $10.69M |
YoY Change | -33.1% | -7.59% | -6.81% |
Cost Of Revenue | $1.585M | $2.341M | $5.006M |
YoY Change | -40.52% | -35.26% | -16.76% |
Gross Profit | $2.063M | $2.899M | $5.687M |
YoY Change | -26.01% | 41.1% | 4.14% |
Gross Profit Margin | 56.55% | 55.33% | 53.19% |
Selling, General & Admin | $1.790M | $2.004M | $3.675M |
YoY Change | 7.13% | 17.78% | -16.85% |
% of Gross Profit | 86.78% | 69.13% | 64.62% |
Research & Development | |||
YoY Change | |||
% of Gross Profit | |||
Depreciation & Amortization | $37.16K | $94.75K | $176.2K |
YoY Change | -54.4% | -14.66% | -1.66% |
% of Gross Profit | 1.8% | 3.27% | 3.1% |
Operating Expenses | $1.790M | $2.004M | $3.675M |
YoY Change | 7.13% | 17.78% | -16.85% |
Operating Profit | $272.7K | $894.9K | $2.012M |
YoY Change | -75.59% | 153.54% | 93.32% |
Interest Expense | $98.24K | -$9.290K | $95.56K |
YoY Change | -6.3% | -110.36% | -21.79% |
% of Operating Profit | 36.02% | -1.04% | 4.75% |
Other Income/Expense, Net | -$190.9K | -$6.150K | -$4.560K |
YoY Change | -12033.13% | 18.96% | -78.8% |
Pretax Income | $180.1K | $879.4K | $2.103M |
YoY Change | -85.28% | 101.03% | 84.24% |
Income Tax | $55.49K | $263.5K | $430.5K |
% Of Pretax Income | 30.82% | 29.96% | 20.47% |
Net Earnings | $227.1K | $43.03K | $905.9K |
YoY Change | -73.68% | -84.19% | 21.9% |
Net Earnings / Revenue | 6.23% | 0.82% | 8.47% |
Basic Earnings Per Share | $0.20 | ||
Diluted Earnings Per Share | $0.05 | $0.01 | $0.20 |
COMMON SHARES | |||
Basic Shares Outstanding | 4.411M shares | 4.440M shares | |
Diluted Shares Outstanding | 4.440M shares |
Balance Sheet
Concept | 2023 Q3 | 2023 Q1 | 2023 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $11.42M | $12.57M | $12.57M |
YoY Change | 5.48% | 6.83% | 6.83% |
Cash & Equivalents | $12.57M | ||
Short-Term Investments | |||
Other Short-Term Assets | $216.4K | $69.10K | $69.10K |
YoY Change | 65.78% | -23.76% | -23.76% |
Inventory | |||
Prepaid Expenses | |||
Receivables | $777.4K | $793.2K | $793.2K |
Other Receivables | $2.602M | $2.566M | $2.566M |
Total Short-Term Assets | $15.02M | $16.00M | $16.00M |
YoY Change | -6.9% | -1.28% | -1.28% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $948.5K | $886.4K | $886.4K |
YoY Change | -10.43% | 1.96% | 1.96% |
Goodwill | |||
YoY Change | |||
Intangibles | $54.38K | ||
YoY Change | -60.59% | ||
Long-Term Investments | $0.00 | $0.00 | |
YoY Change | -100.0% | -100.0% | |
Other Assets | $405.4K | $430.7K | $430.7K |
YoY Change | -43.36% | -44.08% | -44.08% |
Total Long-Term Assets | $1.463M | $1.543M | $1.543M |
YoY Change | -24.84% | -14.38% | -14.38% |
TOTAL ASSETS | |||
Total Short-Term Assets | $15.02M | $16.00M | $16.00M |
Total Long-Term Assets | $1.463M | $1.543M | $1.543M |
Total Assets | $16.48M | $17.54M | $17.54M |
YoY Change | -8.83% | -2.59% | -2.59% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $91.64K | $233.5K | $233.5K |
YoY Change | 114.72% | ||
Accrued Expenses | $390.8K | $389.7K | $389.7K |
YoY Change | -40.05% | -23.45% | -23.45% |
Deferred Revenue | $2.111M | ||
YoY Change | |||
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | |||
YoY Change | |||
Total Short-Term Liabilities | $3.831M | $4.305M | $4.305M |
YoY Change | -32.4% | -28.1% | -28.1% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Other Long-Term Liabilities | $227.7K | $203.2K | $203.2K |
YoY Change | -20.44% | 3252.64% | 3252.64% |
Total Long-Term Liabilities | $227.7K | $203.2K | $203.2K |
YoY Change | -20.44% | 3252.64% | 3252.64% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $3.831M | $4.305M | $4.305M |
Total Long-Term Liabilities | $227.7K | $203.2K | $203.2K |
Total Liabilities | $5.287M | $5.837M | $5.837M |
YoY Change | -24.05% | -13.94% | -13.94% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | $6.418M | ||
YoY Change | 12.16% | ||
Common Stock | $44.40K | ||
YoY Change | 0.0% | ||
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $11.19M | $11.70M | $11.70M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $16.48M | $17.54M | $17.54M |
YoY Change | -8.83% | -2.59% | -2.59% |
Cashflow Statement
Concept | 2023 Q3 | 2023 Q1 | 2023 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | $227.1K | $43.03K | $905.9K |
YoY Change | -73.68% | -84.19% | 21.9% |
Depreciation, Depletion And Amortization | $37.16K | $94.75K | $176.2K |
YoY Change | -54.4% | -14.66% | -1.66% |
Cash From Operating Activities | -$100.4K | $1.315M | $1.613M |
YoY Change | -133.72% | -62.42% | 49.97% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $33.03K | $37.24K | |
YoY Change | -5.41% | -206.4% | |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $0.00 | $247.0K | $74.11K |
YoY Change | -100.0% | -1583.3% | -104.51% |
Cash From Investing Activities | $0.00 | $213.9K | $36.88K |
YoY Change | -100.0% | 1070.99% | -102.2% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 0.000 | -42.17K | 0.000 |
YoY Change | -100.0% | -44.45% | -100.0% |
NET CHANGE | |||
Cash From Operating Activities | -100.4K | 1.315M | 1.613M |
Cash From Investing Activities | 0.000 | 213.9K | 36.88K |
Cash From Financing Activities | 0.000 | -42.17K | 0.000 |
Net Change In Cash | -100.4K | 1.487M | 1.649M |
YoY Change | -161.65% | -56.8% | -365.76% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$100.4K | $1.315M | $1.613M |
Capital Expenditures | $33.03K | $37.24K | |
Free Cash Flow | $1.282M | $1.575M | |
YoY Change | -62.99% | 41.89% |
Facts In Submission
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|
-21510 | usd |
CY2021 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
-17043 | usd |
CY2023 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
91004 | usd |
CY2022 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
100672 | usd |
CY2021 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
110093 | usd |
CY2023 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
2102972 | usd |
CY2022 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1141416 | usd |
CY2021 | us-gaap |
Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
|
1201095 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
430529 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
238885 | usd |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
180334 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
1672443 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
902531 | usd |
CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
1020761 | usd |
CY2023 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
766551 | usd |
CY2022 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
159396 | usd |
CY2021 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
341086 | usd |
CY2023 | us-gaap |
Net Income Loss
NetIncomeLoss
|
905892 | usd |
CY2022 | us-gaap |
Net Income Loss
NetIncomeLoss
|
743135 | usd |
CY2021 | us-gaap |
Net Income Loss
NetIncomeLoss
|
679675 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
1672443 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
902531 | usd |
CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
1020761 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
-752987 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
299185 | usd |
CY2021 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Before Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentBeforeTax
|
488534 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
919456 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
1201716 | usd |
CY2021 | us-gaap |
Comprehensive Income Net Of Tax Including Portion Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
|
1509295 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
-1786 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
22195 | usd |
CY2021 | us-gaap |
Comprehensive Income Net Of Tax Attributable To Noncontrolling Interest
ComprehensiveIncomeNetOfTaxAttributableToNoncontrollingInterest
|
32686 | usd |
CY2023 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
921242 | usd |
CY2022 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1179521 | usd |
CY2021 | us-gaap |
Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
|
1477986 | usd |
CY2023 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.2 | |
CY2022 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.17 | |
CY2021 | us-gaap |
Earnings Per Share Basic
EarningsPerShareBasic
|
0.16 | |
CY2023 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4440085 | shares |
CY2022 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4435164 | shares |
CY2021 | us-gaap |
Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
|
4381033 | shares |
CY2020Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
9299129 | usd |
CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
1020761 | usd |
CY2021 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
488534 | usd |
CY2021Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
10808424 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
902531 | usd |
CY2022 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
299185 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
12010140 | usd |
CY2023 | wfel |
Changing Ownership Of A Subsidiary
ChangingOwnershipOfASubsidiary
|
100387 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
1672443 | usd |
CY2023 | us-gaap |
Other Comprehensive Income Loss Foreign Currency Translation Adjustment Tax
OtherComprehensiveIncomeLossForeignCurrencyTranslationAdjustmentTax
|
-752987 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
13029983 | usd |
CY2023 | us-gaap |
Profit Loss
ProfitLoss
|
1672443 | usd |
CY2022 | us-gaap |
Profit Loss
ProfitLoss
|
902531 | usd |
CY2021 | us-gaap |
Profit Loss
ProfitLoss
|
1020761 | usd |
CY2023 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
176243 | usd |
CY2022 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
179207 | usd |
CY2021 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
195239 | usd |
CY2023 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
234115 | usd |
CY2022 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
134137 | usd |
CY2021 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
246010 | usd |
CY2023 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-938 | usd |
CY2022 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-4043 | usd |
CY2023 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
537018 | usd |
CY2022 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
400876 | usd |
CY2021 | us-gaap |
Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
|
136805 | usd |
CY2023 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
-12277 | usd |
CY2023 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
49422 | usd |
CY2022 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
50155 | usd |
CY2021 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
68151 | usd |
CY2023 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
270090 | usd |
CY2022 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-36670 | usd |
CY2021 | us-gaap |
Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
|
-333045 | usd |
CY2023 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-252307 | usd |
CY2022 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
132914 | usd |
CY2021 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
1422278 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-55174 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
95273 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Receivables
IncreaseDecreaseInOtherReceivables
|
-20902 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-14588 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-51982 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Current Assets
IncreaseDecreaseInOtherCurrentAssets
|
-16670 | usd |
CY2022 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
-9173 | usd |
CY2021 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
80245 | usd |
CY2023 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-1566977 | usd |
CY2022 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
-296570 | usd |
CY2021 | us-gaap |
Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
|
2406401 | usd |
CY2023 | us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
211911 | usd |
CY2022 | us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
244627 | usd |
CY2021 | us-gaap |
Increase Decrease In Accrued Taxes Payable
IncreaseDecreaseInAccruedTaxesPayable
|
359779 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
-60289 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
76219 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Accounts Payable
IncreaseDecreaseInOtherAccountsPayable
|
-82135 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-196848 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-140783 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
|
-251795 | usd |
CY2023 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
48932 | usd |
CY2022 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
-175255 | usd |
CY2021 | us-gaap |
Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
|
163222 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1612500 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
1075175 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
2328140 | usd |
CY2023 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
37237 | usd |
CY2022 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
34996 | usd |
CY2021 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
74236 | usd |
CY2023 | us-gaap |
Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
|
2919 | usd |
CY2022 | us-gaap |
Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
|
6856 | usd |
CY2023 | us-gaap |
Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
|
29190 | usd |
CY2021 | us-gaap |
Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
|
28894 | usd |
CY2022 | wfel |
Payments Made For Loans To A Related Party
PaymentsMadeForLoansToARelatedParty
|
1650000 | usd |
CY2021 | wfel |
Payments Made For Loans To A Related Party
PaymentsMadeForLoansToARelatedParty
|
-2458553 | usd |
CY2023 | wfel |
Purchases Of Ownership Of A Subsadiary
PurchasesOfOwnershipOfASubsadiary
|
100384 | usd |
CY2023 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
36876 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-1678140 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
2355423 | usd |
CY2022 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
-17657 | usd |
CY2021 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
11312 | usd |
CY2022 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-17657 | usd |
CY2021 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
11312 | usd |
CY2023 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
-845358 | usd |
CY2022 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
330052 | usd |
CY2021 | us-gaap |
Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
|
525249 | usd |
CY2023 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
804018 | usd |
CY2022 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
-290570 | usd |
CY2021 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
|
5220124 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
11763445 | usd |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12054015 | usd |
CY2020Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
6833891 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12567463 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
11763445 | usd |
CY2021Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
12054015 | usd |
CY2023 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
33631 | usd |
CY2022 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
13719 | usd |
CY2021 | us-gaap |
Income Taxes Paid
IncomeTaxesPaid
|
174056 | usd |
CY2023 | wfel |
Payable For Capitalized Software Development Costs
PayableForCapitalizedSoftwareDevelopmentCosts
|
478269 | usd |
CY2022 | wfel |
Payable For Capitalized Software Development Costs
PayableForCapitalizedSoftwareDevelopmentCosts
|
837146 | usd |
CY2021 | wfel |
Payable For Capitalized Software Development Costs
PayableForCapitalizedSoftwareDevelopmentCosts
|
805546 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
535767 | usd |
CY2023 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Use of estimates</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during each reporting period. Actual results could differ from those estimates. Significant accounting estimates reflected in the Company’s consolidated financial statements include the allowances for doubtful accounts, valuation allowance for deferred tax assets, estimated useful lives and fair value in connection with the impairment of property and equipment, and lease assumptions. Actual results could differ from these estimates.</p> | |
CY2023 | us-gaap |
Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Reclassifications</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Certain items in the financial statements of comparative period have been reclassified to conform to the financial statements for the current period. The reclassification has no impact on the total assets and total liabilities as of March 31, 2023 and 2022 or on the statements of operations for the years ended March 31, 2023, 2022 and 2021.</p> | |
CY2023Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
500000 | cny |
CY2023Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
72805 | usd |
CY2023 | wfel |
Concentration Risk Threshold Percentage
ConcentrationRiskThresholdPercentage
|
0.10 | pure |
CY2022 | wfel |
Concentration Risk Threshold Percentage
ConcentrationRiskThresholdPercentage
|
0.10 | pure |
CY2022Q1 | us-gaap |
Accounts Receivable Gross Current
AccountsReceivableGrossCurrent
|
1122743 | usd |
CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
535767 | usd |
CY2022Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
|
1122743 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
793212 | usd |
CY2022Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
1712430 | usd |
CY2023Q1 | wfel |
Cash Deposits
CashDeposits
|
11056255 | usd |
CY2022Q1 | wfel |
Cash Deposits
CashDeposits
|
9821654 | usd |
CY2019Q2 | wfel |
Operating Lease Assets And Liability
OperatingLeaseAssetsAndLiability
|
47000 | usd |
CY2023 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><i>Concentrations and credit risk</i></b></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Credit risk</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash. As of March 31, 2023 and 2022, $1,511,208 and $1,940,850 of the Company’s cash were on deposits at financial institutions in Hong Kong, are insured by Hong Kong Deposit Board and subject to a certain limitation of HKD 500,000 (about $63,695). As of March 31, 2023 and 2022, $11,056,255 and $9,821,654 of the Company’s cash were on deposits at financial institutions in the mainland China, where there currently is no rule or regulation requiring such financial institutions to maintain insurance to cover bank deposits in the event of bank failure. While management believes that these financial institutions are of high credit quality, it also continually monitors their credit worthiness.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Accounts receivable are typically unsecured and derived from revenue earned from customers, thereby exposed to credit risk. The risk is mitigated by the Company’s assessment of its customers’ creditworthiness and its ongoing monitoring of outstanding balances.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><i>Customer and supplier concentration risk</i></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The Company’s revenues are derived from enrolled students or institutions that are located primarily in China. For the year ended March 31, 2023, 2022 and 2021, no customers accounted for over 10% of the Company’s total revenue.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2023 and 2022, no customer accounted for 10% of the total outstanding accounts receivable balance, respectively. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">As of March 31, 2021, one customer accounted for 10.4% of the total outstanding accounts receivable balance, respectively. </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">For the years ended March 31, 2023, 2022 and 2021, no suppliers accounted for more than 10% of total purchases.</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">A loss of either of these customers or suppliers could adversely affect the operating results or cash flows of the Company.</p> | |
CY2023Q1 | us-gaap |
Cash
Cash
|
1511208 | usd |
CY2022Q1 | us-gaap |
Cash
Cash
|
1940850 | usd |
CY2023Q1 | us-gaap |
Recorded Third Party Environmental Recoveries Net
RecordedThirdPartyEnvironmentalRecoveriesNet
|
722934 | usd |
CY2023 | wfel |
Revenue Percentage
RevenuePercentage
|
0.10 | pure |
CY2022 | wfel |
Revenue Percentage
RevenuePercentage
|
0.10 | pure |
CY2021 | wfel |
Revenue Percentage
RevenuePercentage
|
0.10 | pure |
CY2023 | wfel |
Purchases Of Total Percentage
PurchasesOfTotalPercentage
|
0.10 | pure |
CY2022 | wfel |
Purchases Of Total Percentage
PurchasesOfTotalPercentage
|
0.10 | pure |
CY2021 | wfel |
Purchases Of Total Percentage
PurchasesOfTotalPercentage
|
0.10 | pure |
CY2023Q1 | us-gaap |
Accounts Receivable Gross
AccountsReceivableGross
|
1328980 | usd |
CY2022Q1 | us-gaap |
Accounts Receivable Gross
AccountsReceivableGross
|
2835173 | usd |
CY2023Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
535768 | usd |
CY2022Q1 | us-gaap |
Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
|
1122743 | usd |
CY2023Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
793212 | usd |
CY2022Q1 | us-gaap |
Accounts Receivable Net
AccountsReceivableNet
|
1712430 | usd |
CY2022Q1 | us-gaap |
Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
|
535768 | usd |
CY2021Q1 | us-gaap |
Allowance For Doubtful Accounts Premiums And Other Receivables
AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables
|
1122743 | usd |
CY2023 | us-gaap |
Allowance For Doubtful Accounts Receivable Recoveries
AllowanceForDoubtfulAccountsReceivableRecoveries
|
693639 | usd |
CY2022Q1 | us-gaap |
Recorded Third Party Environmental Recoveries Net
RecordedThirdPartyEnvironmentalRecoveriesNet
|
719205 | usd |
CY2017Q4 | us-gaap |
Securities Loaned
SecuritiesLoaned
|
600000 | cny |
CY2017Q4 | us-gaap |
Securities Loaned
SecuritiesLoaned
|
88760 | usd |
CY2017Q4 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.06 | pure |
CY2017Q3 | us-gaap |
Securities Loaned
SecuritiesLoaned
|
3000000 | cny |
CY2017Q3 | us-gaap |
Securities Loaned
SecuritiesLoaned
|
436834 | usd |
CY2017Q3 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.06 | pure |
CY2018Q3 | us-gaap |
Securities Loaned
SecuritiesLoaned
|
600000 | cny |
CY2018Q3 | us-gaap |
Securities Loaned
SecuritiesLoaned
|
87367 | usd |
CY2018Q3 | us-gaap |
Investment Interest Rate
InvestmentInterestRate
|
0.06 | pure |
CY2023Q1 | us-gaap |
Securities Loaned
SecuritiesLoaned
|
200000 | cny |
CY2023Q1 | us-gaap |
Securities Loaned
SecuritiesLoaned
|
27729 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1550716 | usd |
CY2022Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
1657550 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1001079 | usd |
CY2022Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
946823 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Owned Net
PropertyPlantAndEquipmentOwnedNet
|
549637 | usd |
CY2022Q1 | us-gaap |
Property Plant And Equipment Owned Net
PropertyPlantAndEquipmentOwnedNet
|
710727 | usd |
CY2023 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
176243 | usd |
CY2022 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
179207 | usd |
CY2021 | us-gaap |
Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
|
195239 | usd |
CY2023Q1 | wfel |
Due To Affiliate
DueToAffiliate
|
315512 | usd |
CY2022Q1 | wfel |
Due To Affiliate
DueToAffiliate
|
315512 | usd |
CY2022Q1 | us-gaap |
Investments
Investments
|
12277 | usd |
CY2016Q2 | wfel |
Ownership Transferred
OwnershipTransferred
|
0.10 | pure |
CY2023Q1 | us-gaap |
Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
|
1761979 | usd |
CY2022Q1 | us-gaap |
Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
|
1745479 | usd |
CY2023 | us-gaap |
Debt Conversion Original Debt Interest Rate Of Debt
DebtConversionOriginalDebtInterestRateOfDebt
|
0.01 | pure |
CY2023 | us-gaap |
Debt Instrument Maturity Date
DebtInstrumentMaturityDate
|
2023-09-30 | |
CY2023 | wfel |
Corporate Income Tax Rate Description
CorporateIncomeTaxRateDescription
|
Hunan Huafu, Shanghai Xia Shu, Shanghai Xin Fu, Nanjing Suyun, Guizhou Huafu, Fuzhou Huafu, Laoning Huafu, Guangxi Huafu, Sichuan Huafu and Guangzhou Huafu were registered in the PRC and are subject to corporate income tax at a reduced rate of 10% starting from the inception dates when they were approved by local government as small-scaled minimal profit enterprises. Huaxia MOOC was subject to corporate income tax at a reduced rate of 10% from the inception date till the end of 2019. | |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Deductions
EffectiveIncomeTaxRateReconciliationDeductions
|
0.25 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
EffectiveIncomeTaxRateReconciliationChangeInEnactedTaxRate
|
0.25 | pure |
CY2023 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
160439 | usd |
CY2022 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
275555 | usd |
CY2021 | us-gaap |
Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
|
513379 | usd |
CY2023 | us-gaap |
Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
|
270090 | usd |
CY2022 | us-gaap |
Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
|
-36670 | usd |
CY2021 | us-gaap |
Deferred Other Tax Expense Benefit
DeferredOtherTaxExpenseBenefit
|
-333045 | usd |
CY2023 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
430529 | usd |
CY2022 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
238885 | usd |
CY2021 | us-gaap |
Income Tax Expense Benefit
IncomeTaxExpenseBenefit
|
180334 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
|
95025 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
|
200262 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
|
280531 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
|
517578 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
2602 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
375556 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Gross
DeferredTaxAssetsGross
|
720442 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
875 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
|
22619 | usd |
CY2023Q1 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
374681 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Net
DeferredTaxAssetsNet
|
697823 | usd |
CY2023 | wfel |
Offset Operating Income
OffsetOperatingIncome
|
P5Y | |
CY2023Q1 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
875 | usd |
CY2022Q1 | us-gaap |
Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
|
31564 | usd |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.25 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.25 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
|
0.25 | pure |
CY2023 | wfel |
Favorable Tax Rate Impacta
FavorableTaxRateImpacta
|
0.077 | pure |
CY2022 | wfel |
Favorable Tax Rate Impacta
FavorableTaxRateImpacta
|
0.068 | pure |
CY2021 | wfel |
Favorable Tax Rate Impacta
FavorableTaxRateImpacta
|
0.079 | pure |
CY2023 | wfel |
Effective Income Tax Rate Reconciliation Permanent Difference
EffectiveIncomeTaxRateReconciliationPermanentDifference
|
0.003 | pure |
CY2022 | wfel |
Effective Income Tax Rate Reconciliation Permanent Difference
EffectiveIncomeTaxRateReconciliationPermanentDifference
|
0.005 | pure |
CY2021 | wfel |
Effective Income Tax Rate Reconciliation Permanent Difference
EffectiveIncomeTaxRateReconciliationPermanentDifference
|
0.008 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.012 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
0.022 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
|
-0.029 | pure |
CY2023 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.188 | pure |
CY2022 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.209 | pure |
CY2021 | us-gaap |
Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
|
0.15 | pure |
CY2023 | wfel |
Favorable Tax Rate Description
FavorableTaxRateDescription
|
(a)Distance Learning is subject to a favorable tax rate of 15%; Shanghai Xia Shu, Shanghai Xin Fu, Hunan Huafu, Nanjing Suyun, Guizhou Huafu, Fuzhou Huafu and Chonqqing Huafu are subject to a favorable tax rate of 10%. | |
CY2023 | wfel |
Schedule Of Taxes Payable
ScheduleOfTaxesPayable
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of <br/> March 31, <br/> 2023</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1.5pt"> </td> <td colspan="2" style="border-bottom: Black 1.5pt solid; font-weight: bold; text-align: center">As of <br/> March 31,<br/> 2022</td><td style="padding-bottom: 1.5pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 76%; text-align: left; text-indent: -9pt; padding-left: 9pt">Income tax payable</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">1,054,177</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">935,630</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">Value added tax payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">54,296</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">40,604</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Other taxes payable</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">11,128</td><td style="padding-bottom: 1.5pt; text-align: left"> </td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">7,636</td><td style="padding-bottom: 1.5pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">1,119,601</td><td style="padding-bottom: 4pt; text-align: left"> </td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">983,869</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
CY2023Q1 | wfel |
Income Tax Payable
IncomeTaxPayable
|
1054177 | usd |
CY2022Q1 | wfel |
Income Tax Payable
IncomeTaxPayable
|
935630 | usd |
CY2023Q1 | us-gaap |
Value Added Tax Receivable
ValueAddedTaxReceivable
|
54296 | usd |
CY2022Q1 | us-gaap |
Value Added Tax Receivable
ValueAddedTaxReceivable
|
40604 | usd |
CY2023Q1 | wfel |
Other Taxes Payable
OtherTaxesPayable
|
11128 | usd |
CY2022Q1 | wfel |
Other Taxes Payable
OtherTaxesPayable
|
7636 | usd |
CY2023Q1 | us-gaap |
Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
|
1119601 | usd |
CY2022Q1 | us-gaap |
Taxes Payable Current And Noncurrent
TaxesPayableCurrentAndNoncurrent
|
983869 | usd |
CY2023 | us-gaap |
Operating Lease Initial Direct Cost Expense Over Term
OperatingLeaseInitialDirectCostExpenseOverTerm
|
413445 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
|
26 | usd |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0475 | pure |
CY2023 | wfel |
Schedule Of Maturities Of Lease Liabilities
ScheduleOfMaturitiesOfLeaseLiabilities
|
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1.5pt solid"><b>Twelve months ending March 31,</b></td><td style="padding-bottom: 1.5pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1.5pt"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 88%; text-align: left">2024</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 9%; text-align: right">213,482</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 9pt">2025</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">170,067</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -0.25in; padding-left: 0.25in">2026</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">38,652</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; "> <td style="text-align: left; text-indent: -9pt; padding-left: 0.25in">Total Lease Payments</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">422,201</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1.5pt; text-indent: -9pt; padding-left: 9pt">Less Imputed Interest</td><td style="padding-bottom: 1.5pt"> </td> <td style="border-bottom: Black 1.5pt solid; text-align: left"> </td><td style="border-bottom: Black 1.5pt solid; text-align: right">(8,756</td><td style="padding-bottom: 1.5pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; "> <td style="padding-bottom: 4pt; text-indent: -9pt; padding-left: 9pt">Total</td><td style="padding-bottom: 4pt"> </td> <td style="border-bottom: Black 4pt double; text-align: left">$</td><td style="border-bottom: Black 4pt double; text-align: right">413,445</td><td style="padding-bottom: 4pt; text-align: left"> </td></tr> </table> | |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
|
213482 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
|
170067 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
|
38652 | usd |
CY2023Q1 | wfel |
Total Lease Payments
TotalLeasePayments
|
422201 | usd |
CY2023Q1 | wfel |
Less Imputed Interest
LessImputedInterest
|
-8756 | usd |
CY2023 | us-gaap |
Lease Cost
LeaseCost
|
413445 | usd |
CY2021Q2 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
29526 | shares |
CY2021Q2 | us-gaap |
Sale Of Stock Price Per Share
SaleOfStockPricePerShare
|
6.25 | |
CY2021Q2 | us-gaap |
Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
|
59052 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
30000000 | shares |
CY2022Q1 | us-gaap |
Common Stock Shares Authorized
CommonStockSharesAuthorized
|
30000000 | shares |
CY2023Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2022Q1 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.01 | |
CY2023Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
4440085 | shares |
CY2023Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
4440085 | shares |
CY2022Q1 | us-gaap |
Common Stock Shares Issued
CommonStockSharesIssued
|
4440085 | shares |
CY2022Q1 | us-gaap |
Common Stock Shares Outstanding
CommonStockSharesOutstanding
|
4440085 | shares |
CY2023 | wfel |
Percentage Of Statutory Reserve Surplus After Tax
PercentageOfStatutoryReserveSurplusAfterTax
|
0.10 | pure |
CY2023 | wfel |
Percentage Of Reserve Out Of Registered Capital
PercentageOfReserveOutOfRegisteredCapital
|
0.50 | pure |
CY2023Q1 | wfel |
Statutory Reserve
StatutoryReserve
|
867530 | usd |
CY2022Q1 | wfel |
Statutory Reserve
StatutoryReserve
|
657329 | usd |
CY2019Q2 | wfel |
Warrants Issued For Services Description
WarrantsIssuedForServicesDescription
|
the company issued warrants to underwriter (Network 1 Financial Securities, Inc.) and its employees to purchased 59,052 ordinary shares at an exercise price of 125% of the IPO price, namely $6.25 dollars per share, at any time or from time to time from August 13, 2019 (the “Exercise Date”), and at or before 5:00 p.m., Eastern time, February 14, 2022 (the “Expiration Date”). | |
CY2021Q2 | wfel |
Warrants Issued For Services Description
WarrantsIssuedForServicesDescription
|
On April 1, 2021 the underwriter elects to exercise the purchase warrants which the company offering to the underwriter for initial public offering services. The total exercise shares are 59,052 at a price of $6.25 per share used cashless method. The total exercise shares should be 29,526 at a price of $6.25 per share used cashless method. Due to a calculation mistake the company erroneously issued 59,052 shares to the underwriter. | |
CY2021Q2 | wfel |
Total Exercise Shares
TotalExerciseShares
|
29526 | shares |
CY2021Q2 | us-gaap |
Share Price
SharePrice
|
6.25 | |
CY2021Q2 | us-gaap |
Shares Issued
SharesIssued
|
59052 | shares |
CY2021Q2 | us-gaap |
Stockholders Equity Note Changes In Capital Structure Subsequent Changes To Number Of Common Shares
StockholdersEquityNoteChangesInCapitalStructureSubsequentChangesToNumberOfCommonShares
|
29526 | shares |
CY2023 | us-gaap |
Revenues
Revenues
|
10692613 | usd |
CY2023 | wfel |
Cost Of Revenue And Related Tax
CostOfRevenueAndRelatedTax
|
5005710 | usd |
CY2023 | us-gaap |
Gross Profit
GrossProfit
|
5686903 | usd |
CY2023 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
176243 | usd |
CY2023 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
37237 | usd |
CY2022 | us-gaap |
Revenues
Revenues
|
11474348 | usd |
CY2022 | wfel |
Cost Of Revenue And Related Tax
CostOfRevenueAndRelatedTax
|
6013731 | usd |
CY2022 | us-gaap |
Gross Profit
GrossProfit
|
5460617 | usd |
CY2022 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
179207 | usd |
CY2022 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
34996 | usd |
CY2021 | us-gaap |
Revenues
Revenues
|
8515561 | usd |
CY2021 | wfel |
Cost Of Revenue And Related Tax
CostOfRevenueAndRelatedTax
|
3997098 | usd |
CY2021 | us-gaap |
Gross Profit
GrossProfit
|
4518463 | usd |
CY2021 | us-gaap |
Other Depreciation And Amortization
OtherDepreciationAndAmortization
|
195239 | usd |
CY2021 | us-gaap |
Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
|
74236 | usd |
CY2023Q1 | us-gaap |
Assets
Assets
|
17538192 | usd |
CY2022Q1 | us-gaap |
Assets
Assets
|
18003906 | usd |
CY2021Q2 | wfel |
Total Exercise Shares
TotalExerciseShares
|
29526 | shares |
CY2021Q2 | us-gaap |
Share Price
SharePrice
|
6.25 | |
CY2021Q2 | us-gaap |
Stock Issued During Period Shares Other
StockIssuedDuringPeriodSharesOther
|
59052 | shares |
CY2021Q2 | us-gaap |
Stockholders Equity Note Changes In Capital Structure Subsequent Changes To Number Of Common Shares
StockholdersEquityNoteChangesInCapitalStructureSubsequentChangesToNumberOfCommonShares
|
29526 | shares |
CY2023Q1 | us-gaap |
Commitments And Contingencies
CommitmentsAndContingencies
|
usd | |
CY2022 | us-gaap |
Gain Loss On Investments
GainLossOnInvestments
|
usd | |
CY2021 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
usd | |
CY2021 | wfel |
Appropriation Of Statutory Reserves
AppropriationOfStatutoryReserves
|
usd | |
CY2022 | us-gaap |
Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
|
usd | |
CY2022 | wfel |
Appropriation Of Statutory Reserves
AppropriationOfStatutoryReserves
|
usd | |
CY2023 | wfel |
Appropriation Of Statutory Reserves
AppropriationOfStatutoryReserves
|
usd | |
CY2021 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
usd | |
CY2022 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
usd | |
CY2021 | us-gaap |
Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
|
usd | |
CY2023 | us-gaap |
Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
|
usd | |
CY2021 | us-gaap |
Repayment Of Notes Receivable From Related Parties
RepaymentOfNotesReceivableFromRelatedParties
|
usd | |
CY2022 | us-gaap |
Payments To Fund Longterm Loans To Related Parties
PaymentsToFundLongtermLoansToRelatedParties
|
usd | |
CY2023 | wfel |
Payments Made For Loans To A Related Party
PaymentsMadeForLoansToARelatedParty
|
usd | |
CY2022 | wfel |
Purchases Of Ownership Of A Subsadiary
PurchasesOfOwnershipOfASubsadiary
|
usd | |
CY2021 | wfel |
Purchases Of Ownership Of A Subsadiary
PurchasesOfOwnershipOfASubsadiary
|
usd | |
CY2023 | us-gaap |
Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
|
usd | |
CY2023 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
usd | |
CY2023Q1 | wfel |
Recorded Third Party Environmentals Recoveries Noncurrent Net
RecordedThirdPartyEnvironmentalsRecoveriesNoncurrentNet
|
usd | |
CY2022Q1 | wfel |
Recorded Third Party Environmentals Recoveries Noncurrent Net
RecordedThirdPartyEnvironmentalsRecoveriesNoncurrentNet
|
usd | |
CY2023Q1 | us-gaap |
Investments
Investments
|
usd | |
CY2023Q1 | us-gaap |
Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
|
usd | |
CY2023 | dei |
Amendment Flag
AmendmentFlag
|
false | |
CY2023 | dei |
Document Fiscal Period Focus
DocumentFiscalPeriodFocus
|
FY | |
CY2023 | dei |
Entity Central Index Key
EntityCentralIndexKey
|
0001716770 |