and repair and maintenance expenses, partially offset by decreases in payroll expenses, meals, entertainment and travel expenses, and

filing / Jul 23, 2026 / receipt

year ended March 31, 2025, primarily due to headcount reductions in operations and accounting departments; meals, entertainment and travel

filing / Jul 23, 2026 / receipt

Fan has served as our Chief Financial Officer (“CFO”) and a member of our board of directors since September 2025. Ms. Fan has served as a financial consultant at Baizan Consulting Firm from May 2022 to May 2025 where she led financial structuring and initial-public-offering readiness planning for private enterprises.

filing / Jul 23, 2026 / receipt

We work closely with them to improve our supply chain efficiency and reduce costs. Our centralized vendor management system also helps us to manage risk more effectively by identifying potential risks and developing strategies to mitigate them.

filing / Jul 23, 2026 / receipt

successfully expand our geographic reach; ● hire, integrate and retain talented people at all levels of our organization; and ● successfully develop new features, offerings and services to enhance the experience of customers.

filing / Jul 23, 2026 / receipt

a result of reduced business entertainment and travel activities following the workforce reduction; and insurance expenses decreased to

filing / Jul 23, 2026 / receipt