Addentax (ATXG) 10-Q 14 Feb 24 2024 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Dec. 31, 2023	Feb. 13, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2023
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--03-31
Entity File Number	333-206097
Entity Registrant Name	ADDENTAX GROUP CORP.
Entity Central Index Key	0001650101
Entity Tax Identification Number	35-2521028
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	Kingkey 100, Block A
Entity Address, Address Line Two	Room 4805
Entity Address, Address Line Three	Luohu District
Entity Address, City or Town	Shenzhen City
Entity Address, Country	CN
Entity Address, Postal Zip Code	518000
City Area Code	86
Local Phone Number	755 86961 405
Title of 12(b) Security	Common Stock
Trading Symbol	ATXG
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		4,294,979

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 498,254	$ 562,711
Restricted cash	3,250,000
Accounts receivables, net	2,182,465	1,858,889
Debt securities held-to-maturity		17,718,750
Inventories	304,400	285,528
Prepayments and other receivables	19,259,660	959,196
Advances to suppliers	2,008,023	1,281,075
Total current assets	30,311,918	23,041,241
NON-CURRENT ASSETS
Plant and equipment, net	607,311	649,120
Long-term prepayments	257,314	90,032
Restricted cash		14,750,000
Long-term receivables	2,500,000	2,500,000
Operating lease right of use asset	20,108,986	272,488
Total non-current assets	23,473,611	18,261,640
TOTAL ASSETS	53,785,529	41,302,881
CURRENT LIABILITIES
Short-term loan	309,175	137,468
Accounts payable	466,184	267,501
Advances from customers	195,755	2,152
Accrued expenses and other payables	1,251,839	606,843
Operating lease liability current portion	1,079,653	127,101
Total current liabilities	5,427,606	3,525,698
NON-CURRENT LIABILITIES
Convertible debts	2,376,112	11,219,519
Derivative liabilities	2,708,757	2,290,483
Operating lease liability	19,029,332	145,387
Total non-current liabilities	24,114,201	13,655,389
TOTAL LIABILITIES	29,541,807	17,181,087
EQUITY
Common stock ($0.001 par value, 250,000,000 shares authorized, 4,494,979 and 35,454,670 shares issued and outstanding at December 31 and March 31, 2023, respectively)	4,495	35,455
Additional paid-in capital	33,606,949	29,528,564
Accumulated Deficit	(9,433,762)	(5,451,209)
Statutory reserve	37,027	28,457
Accumulated other comprehensive loss	29,013	(19,473)
Total equity	24,243,722	24,121,794
TOTAL LIABILITIES AND EQUITY	53,785,529	41,302,881
Related Party [Member]
CURRENT ASSETS
Amount due from related party	2,809,116	375,092
CURRENT LIABILITIES
Amount due to related parties	$ 2,125,000	$ 2,384,633

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Dec. 31, 2023	Mar. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	250,000,000	250,000,000
Common stock, shares issued	4,494,979	35,454,670
Common stock, shares outstanding	4,494,979	35,454,670

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Statement [Abstract]
REVENUES	$ 1,468,496	$ 2,122,242	$ 3,856,316	$ 6,652,645
COST OF REVENUES	(1,306,169)	(1,514,780)	(3,054,193)	(5,023,338)
GROSS PROFIT	162,327	607,462	802,123	1,629,307
OPERATING EXPENSES
Selling and marketing	(95,321)	(24,511)	(132,533)	(60,155)
General and administrative	(516,598)	(675,918)	(1,685,063)	(1,545,865)
Total operating expenses	(611,919)	(700,429)	(1,817,596)	(1,606,020)
INCOME (LOSS) FROM OPERATIONS	(449,592)	(92,967)	(1,015,473)	23,287
Fair value gain or loss	(1,738,593)		(172,001)
Interest income	1,712	1,687	5,129	6,687
Interest expenses	(529,530)	(1,986)	(2,426,064)	(6,653)
Other income (expense), net	111,566	19,232	(357,848)	93,288
INCOME (LOSS) BEFORE INCOME TAX EXPENSE	(2,604,437)	(74,034)	(3,966,257)	116,609
INCOME TAX EXPENSE	(3,225)	(8,184)	(7,726)	(18,939)
NET (LOSS)/INCOME	(2,607,662)	(82,218)	(3,973,983)	97,670
Foreign currency translation gain	(41,266)	(43,032)	48,486	159,660
TOTAL COMPREHENSIVE INCOME (LOSS)	$ (2,648,928)	$ (125,250)	$ (3,925,497)	$ 257,330
EARNINGS PER SHARE
Earnings (Loss) per share, Basic	$ (0.66)	$ 0	$ (1)	$ 0
Earnings (Loss) per share, Diluted	$ (0.66)	$ 0	$ (1)	$ 0
Weighted average number of shares outstanding - Basic	3,980,714	28,377,936	3,980,714	28,377,936
Weighted average number of shares outstanding - Diluted	3,980,714	28,377,936	3,980,714	28,377,936

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings Unrestricted [Member]	Retained Earnings Statutory Reserve [Member]	AOCI Attributable to Parent [Member]	Total
Beginning balance, value at Mar. 31, 2022	$ 26,693	$ 6,815,333	$ (6,756,230)	$ 13,821	$ (170,984)	$ (71,367)
Beginning balance, shares at Mar. 31, 2022	26,693,004
Appropriation to Statutory Reserves			(14,631)	14,631
Foreign currency translation					159,660	159,660
Net loss for the period			97,670			97,670
Issuance of new shares	$ 5,000	22,716,993				22,721,993
Issuance of new shares, shares	5,000,000
Ending balance, value at Dec. 31, 2022	$ 31,693	29,532,326	(6,673,191)	28,452	(11,324)	22,907,956
Ending balance, shares at Dec. 31, 2022	31,693,004
Beginning balance, value at Sep. 30, 2022	$ 31,693	29,532,326	(6,576,342)	13,821	31,708	23,033,206
Beginning balance, shares at Sep. 30, 2022	31,693,004
Appropriation to Statutory Reserves			(14,631)	14,631
Foreign currency translation					(43,032)	(43,032)
Net loss for the period			(82,218)			(82,218)
Ending balance, value at Dec. 31, 2022	$ 31,693	29,532,326	(6,673,191)	28,452	(11,324)	22,907,956
Ending balance, shares at Dec. 31, 2022	31,693,004
Beginning balance, value at Mar. 31, 2023	$ 35,455	29,528,564	(5,451,209)	28,457	(19,473)	24,121,794
Beginning balance, shares at Mar. 31, 2023	35,454,670
Appropriation to Statutory Reserves			(8,570)	8,570
Foreign currency translation					48,486	48,486
Net loss for the period			(3,972,983)			(3,973,983)
Additional paid-in capital from conversion of convertible debts		4,047,425				4,047,425
Issuance of new shares before reversed split	$ 1,941	(1,941)
Issuance of new shares before reversed split, shares	1,940,750
Reverse stock split	$ (33,656)	33,656
Reverse stoc split, shares	(33,655,878)
New shares for round up of fragmental shares	$ 0	0
New shares for round up of fracmental shares, shares	39
Issuance of new shares after reversed split	$ 755	(755)
Issuance of new shares after reversed split, shares	755,398
Ending balance, value at Dec. 31, 2023	$ 4,495	33,606,949	(9,433,762)	37,027	29,013	24,243,722
Ending balance, shares at Dec. 31, 2023	4,494,979
Beginning balance, value at Sep. 30, 2023	$ 4,495	33,558,928	(6,817,530)	28,457	70,279	26,844,629
Beginning balance, shares at Sep. 30, 2023	4,494,979
Appropriation to Statutory Reserves			(8,570)	8,570
Foreign currency translation					(41,266)	(41,266)
Net loss for the period			(2,607,662)			(2,607,662)
Additional paid-in capital from conversion of convertible debts		48,021				48,021
Ending balance, value at Dec. 31, 2023	$ 4,495	$ 33,606,949	$ (9,433,762)	$ 37,027	$ 29,013	$ 24,243,722
Ending balance, shares at Dec. 31, 2023	4,494,979

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net (loss) income	$ (3,973,983)	$ 97,670
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	664,646	264,876
Amotization of convertible debt	2,402,972
Investment income	(218,750)
Fair value gain or loss	172,001
Loss on debts extinguishment	697,318
Gain on bargain purchase	(975)
Changes in operating assets and liabilities
Accounts receivable	(323,576)	74,598
Inventories	(18,872)	11,904
Advances to suppliers	(726,948)	126,639
Other receivables	(95,924)	(1,789,539)
Accounts payables	198,683	(1,309,228)
Accrued expenses and other payables	(402,381)	992,046
Advances from customers	103,987	2,916
Net cash used in operating activities	(1,521,802)	(1,528,118)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property and equipment and intangible assets	(135,299)
Cash from acquired investee	226,162
Purchase of debt securities		(17,500,000)
Net cash used in investing activities	90,863	(17,500,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issue of ordinary shares		20,221,993
Proceeds from related party borrowings	2,648,014	2,376,221
Repayment of related party borrowings	(5,341,671)	(3,356,829)
Release of restricted cash	3,850,000
Proceeds from bank borrowings	176,127
Repayment of bank borrowings		(408)
Net cash provided by financing activities	1,332,470	19,240,977
NET INCREASE IN CASH AND CASH EQUIVALENTS	(98,469)	212,859
Effect of exchange rate changes on cash and cash equivalents	34,012	(15,118)
Cash and cash equivalents, beginning of the period	562,711	1,390,644
CASH AND CASH EQUIVALENTS, END OF THE PERIOD	498,254	1,588,385
Supplemental disclosure of cash flow information:
Cash paid during the period for interest
Cash paid during the period for income tax	7,726	18,939
Supplemental disclosure of non-cash investing and financing activities:
Right-of-use assets obtained in exchange for operating lease obligations	$ 19,934,673

ORGANIZATION AND BUSINESS ACQUI

ORGANIZATION AND BUSINESS ACQUISITIONS	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
ORGANIZATION AND BUSINESS ACQUISITIONS	1. ORGANIZATION AND BUSINESS ACQUISITIONS ATXG and its subsidiaries (the “Company”) are engaged in the business of garments manufacturing, providing logistic services, property leasing and management service in the People’s Republic of China (“PRC” or “China”).

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	2. BASIS OF PRESENTATION In the opinion of management, the unaudited condensed consolidated financial statements reflect all adjustments of a normal recurring nature that are necessary for a fair presentation of the results for the interim periods presented. All significant intercompany transactions and balances are eliminated in consolidation. However, the results of operations included in such financial statements may not necessarily be indicative of annual results. The Company uses the same accounting policies in preparing quarterly and annual financial statements. Certain information and footnote disclosures normally included in the annual consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) have been condensed or omitted. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended March 31, 2023 filed with the Securities and Exchange Commission (“SEC”) on June 29, 2023 (“2023 Form 10-K”).

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The preparation of the consolidated financial statements in conformity with US 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 revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates. Accounts receivable, net Accounts receivable, net are stated at the historical carrying amount net of allowance for doubtful accounts. Account receivables are classified as financial assets subsequently measured at amortized cost. Account receivables are recognized when the Company becomes a party to the contractual provisions of the receivables. They are measured, at initial recognition, at fair value plus transaction costs, if any and are subsequently measured at amortized cost. The amortized cost is the amount recognized on the receivable initially, minus principal repayments, plus cumulative amortization (interest) using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance. A loss allowance for expected credit losses is recognized on account receivables and is updated at each reporting date. The Company determines the expected credit losses provisions based on ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (‘‘ASC 326’’) using a modified retrospective approach which did not have a material impact on the opening balance of accumulated deficit. To determine expected credit losses on account receivables, the Company will consider the historic credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions, and an assessment of both the current and forecasted direction of conditions at the reporting date, including the time value of money, where appropriate. The loss allowance is calculated on a collective basis for all trade and other receivables in totality. An impairment gain or loss is recognized in profit or loss with a corresponding adjustment to the carrying amount of account receivables, through use of a loss allowance account. The impairment loss is included in operating expenses as a movement in credit loss allowance. Receivables are written off when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, e.g., when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings. Receivables written off may still be subject to enforcement activities under the Company’s recovery procedures, considering legal advice where appropriate. Any recoveries made are recognized in profit or loss. There is no change in the accounting policies for the three months ended December 31, 2023. Recently issued accounting pronouncements Accounting for Convertible Instruments: In August 2020, FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (ASU 2020-06), as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance removes from GAAP separation models for convertible debt that require the convertible debt to be separated into a debt and equity component, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity and will instead account for the convertible debt wholly as debt. The new guidance also requires use of the “if-converted” method when calculating the dilutive impact of convertible debt on earnings per share, which is consistent with the Company’s current accounting treatment under the current guidance. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have a significant impact on the Company’s consolidated financial statements.

BUSINESS ACQUISITION

BUSINESS ACQUISITION	9 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
BUSINESS ACQUISITION	4. BUSINESS ACQUISITION In September 2023, the Company acquired a 100 438,470 3.2 996 The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of acquisition: SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED September 5, 2023 Cash in bank $ 226,162 Other receivables 705,510 Fixed assets, net 58,493 Long-term prepayments 192,391 Advance from customers (89,616 ) Payroll payable (19,239 ) Other tax payable (4,633 ) Other payables (629,602 ) Net book value at acquisition date 439,466 Gain on bargain purchase (996 ) Purchase price $ 438,470 Pro forma results of operation for this acquisition have not been presented because the effects of the acquisition were not material to the Company’s consolidated financial results.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	5. RELATED PARTY TRANSACTIONS SUMMARY OF FINANCIAL POSITION OF ENTITIES AND GAIN OR LOSS ON DISPOSAL Name of Related Parties Relationship with the Company Zhida Hong President, CEO, and a director of the Company Hongye Financial Consulting (Shenzhen) Co., Ltd A company controlled by CEO, Mr. Zhida Hong Bihua Yang A legal representative of XKJ Dewu Huang A legal representative of YBY Jinlong Huang Management of HSW The Company leases Shenzhen XKJ office rent-free from Bihua Yang. The Company had the following related party balances as of December 31, 2023 and March 31, 2023: SCHEDULE OF AMOUNT DUE FROM RELATED PARTY Amount due from related party December 31, 2023 March 31, 2023 Zhida Hong (1) $ 2,111,557 $ - Bihua Yang 697,559 375,092 Amount due from related party $ 2,809,116 $ 375,092 SCHEDULE OF RELATED PARTIES BORROWINGS Related party borrowings December 31, 2023 March 31, 2023 Zhida Hong $ - $ 901,110 Hongye Financial Consulting (Shenzhen) Co., Ltd. 146,388 45,841 Dewu Huang (2) 1,862,446 1,305,758 Jinlong Huang 116,166 131,924 Total Related party borrowings $ 2,125,000 $ 2,384,633 (1) Being cash advance to Zhida Hong to pay for new brand development fee of the Company. (2) Being interest free loan as financial support from Dewu Huang to pay for daily operating expenditures of YBY. The borrowing balances with related parties are unsecured, non-interest bearing and repayable on demand.

RESTRICTED CASH

RESTRICTED CASH	9 Months Ended
	Dec. 31, 2023
Cash and Cash Equivalents [Abstract]
RESTRICTED CASH	6. RESTRICTED CASH The proceeds from issuance of the convertible note and warrants were deposited in a Holder Master Restricted Account controlled by the holders of the convertible note and warrants. The restricted cash will be released, over the period from the issuance date to the maturity date of the convertible note, when control account release events occur, which includes: (i) the Company’s receipt of a notice by the Holder electing to voluntarily effect a release of cash to the Company; (ii) the shareholder approval and registration of the new authorized shares according to the Securities Purchase Agreement; and (iii) any conversion of the convertible note.

DEBT SECURITIES HELD-TO-MATURIT

DEBT SECURITIES HELD-TO-MATURITY	9 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
DEBT SECURITIES HELD-TO-MATURITY	7. DEBT SECURITIES HELD-TO-MATURITY SCHEDULE OF DEBT SECURITIES HELD TO MATURITY December 31, 2023 March 31, 2023 Debt securities held-to-maturity $ - $ 17,718,750 The Company purchased a note issued by a third-party investment company on August 24, 2022. The principal amount of the note is $ 17,500,000 2.5 437,500 218,750

INVENTORIES

INVENTORIES	9 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
INVENTORIES	8. INVENTORIES Inventories consist of the following as of December 31, 2023 and March 31, 2023: SCHEDULE OF INVENTORIES December 31, 2023 March 31, 2023 Raw materials $ 67,448 $ 19,484 Work in progress - 9,373 Finished goods 236,952 256,671 Total inventories $ 304,400 $ 285,528

ADVANCES TO SUPPLIERS

ADVANCES TO SUPPLIERS	9 Months Ended
	Dec. 31, 2023
Advances To Suppliers
ADVANCES TO SUPPLIERS	9. ADVANCES TO SUPPLIERS The Company has made advances to third-party suppliers in advance of receiving inventory parts. These advances are generally made to expedite the delivery of required inventory when needed and to help to ensure priority and preferential pricing on such inventory. The amounts advanced to suppliers are fully refundable on demand. The Company reviews a supplier’s credit history and background information before advancing a payment. If the financial condition of its suppliers were to deteriorate, resulting in an impairment of their ability to deliver goods or provide services, the Company would recognize bad debt expense in the period they are considered unlikely to be collected.

PREPAYMENTS AND OTHER RECEIVABL

PREPAYMENTS AND OTHER RECEIVABLES	9 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
PREPAYMENTS AND OTHER RECEIVABLES	10. PREPAYMENTS AND OTHER RECEIVABLES Prepayments and other receivables consist of the following as of December 31, 2023 and March 31, 2023: SCHEDULE OF PREPAYMENTS AND OTHER RECEIVABLES December 31, 2023 March 31, 2023 Prepayment 36,761 10,913 Deposit 750,932 40,341 Receivable of consideration on disposal of subsidiaries 233,956 708,457 Receivable of matured debt security (Note) 17,937,500 - Other receivables 300,511 199,485 Total Prepayment $ 19,259,660 $ 959,196 Note: The debt security held-to-maturity was matured and was reclassified to Other receivables. The Company is discussing with the issuer and will determine whether to renew the note. (Note 7)

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	11. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment consists of the following as of December 31, 2023 and March 31, 2023: SCHEDULE OF PLANT AND EQUIPMENT December 31, 2023 March 31, 2023 Production plant $ 107,573 $ 68,345 Motor vehicles 1,065,287 1,100,683 Office equipment 53,143 26,025 Total gross 1,226,003 1,195,053 Less: accumulated depreciation (618,692 ) (545,933 ) Plant and equipment, net $ 607,311 $ 649,120 Depreciation expense for the three and nine months ended December 31, 2023 and 2022 was $ 29,004 33,817 86,005 102,649

LONG-TERM RECEIVABLES

LONG-TERM RECEIVABLES	9 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
LONG-TERM RECEIVABLES	12. LONG-TERM RECEIVABLES The Company entered into a long-term loan agreement with an independent third party in September 2022. The principal to the borrower is $ 2.5 The loan is interest free and will expire in August 2025

SHORT-TERM BANK LOAN

SHORT-TERM BANK LOAN	9 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
SHORT-TERM BANK LOAN	13. SHORT-TERM BANK LOAN In August 2019, HSW entered into a facility agreement with Agricultural Bank of China and obtained a line of credit, which allows the Company to borrow up to approximately $ 153,172 1,000,000) 133,047 944,255 137,468 4.34 4.9 In February 2023, XKJ entered into a facility agreement with China Construction Bank and obtained a line of revolving credit, which allows the Company to borrow up to approximately $ 1,268,118 9,000,000 105,677 750,000 Nil 3.9% In December 2023, PF entered into a facility agreement with Sichuan Xinwang Bank Co., Ltd. and obtained a line of credit, which allows the Company to borrow up to approximately $ 70,451 500,000 70,451 500,000 Nil 6.72%

TAXATION

TAXATION	9 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
TAXATION	14. TAXATION (a) Enterprise Income Tax (“EIT”) The Company operates in the PRC and files tax returns in the PRC jurisdictions. Yingxi Industrial Chain Group Co., Ltd was incorporated in the Republic of Seychelles and, under the current laws of the British Virgin Islands, is not subject to income taxes. It’s wholly owned subsidiary of Addentax Group Corp. Yingxi HK (Yingxi Industrial Chain Investment Co., Ltd.) was incorporated in Hong Kong which is indirectly wholly owned by Addentax Group Corp., and is subject to Hong Kong income tax at a progressive rate of 16.5 YX, our wholly owned subsidiary, were incorporated in the PRC and is subject to the EIT tax rate of 25 The Company is governed by the Income Tax Laws of the PRC. All Yingxi’s operating companies were subject to progressive EIT rates from 5 15 The preferential tax rate will be expired at end of year 2023 and the EIT rate will be 25% from year 2024 The Company’s parent entity, Addentax Group Corp. is a U.S entity and is subject to the United States federal income tax. No provision for income taxes in the United States has been made as Addentax Group Corp. had no United States taxable income for the three months ended December 31, 2023 and 2022. The reconciliation of income taxes computed at the PRC statutory tax rate applicable to the PRC, to income tax expenses are as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 PRC statutory tax rate 25 % 25 % 25 % 25 % Computed expected benefits (651,109 ) (18,509 ) (991,564 ) 29,152 Temporary differences 37,772 (54,616 ) 13,003 (148,387 ) Permanent difference 93,336 9,933 99,648 13,278 Changes in valuation allowance 523,226 71,376 886,639 124,896 Income tax expense $ 3,225 $ 8,184 7,726 18,939 Deferred tax assets had not been recognized in respect of any potential tax benefit that may be derived from non-capital loss carry forward and property and equipment due to past negative evidence of previous cumulative net losses and uncertainty upon restructuring. The management will continue to assess at each reporting period to determine the realizability of deferred tax assets. (b) Value Added Tax (“VAT”) In accordance with the relevant taxation laws in the PRC, the normal VAT rate for domestic sales is 13 13 For services, the applicable VAT rate is 9 3

CONSOLIDATED SEGMENT DATA

CONSOLIDATED SEGMENT DATA	9 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
CONSOLIDATED SEGMENT DATA	15. CONSOLIDATED SEGMENT DATA Segment information is consistent with how chief operating decision maker reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. The segment data presented reflects this segment structure. The Company reports financial and operating information in the following four segments: (a) Garment manufacturing (b) Logistics services (c) Property management and subleasing. The Company also provides general corporate services to its segments and these costs are reported as “Corporate and others”. Selected information in the segment structure is presented in the following tables: Revenues by segment for the three and nine months ended December 31, 2023 and 2022 are as follows: SCHEDULE OF SEGMENT REPORTING FOR REVENUE Revenues from external customers 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, Revenues from external customers 2023 2022 2023 2022 Garments manufacturing segment 27,015 100,723 172,106 142,010 Logistics services segment 1,189,004 1,213,530 3,373,670 3,826,070 Property management and subleasing 252,477 796,343 310,540 2,671,379 Total of reportable segments 1,468,496 $ 2,110,596 $ 3,856,316 $ 6,639,459 Corporate and other - 11,646 - 13,186 Total consolidated revenue $ 1,468,496 $ 2,122,242 $ 3,856,316 $ 6,652,645 Revenues from external customers - - - - (Loss) Income from operations by segment for the three ended December 31, 2023 and 2022 are as follows: SCHEDULE OF SEGMENT REPORTING FOR (LOSS) INCOME FROM OPERATION 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 Garments manufacturing segment (30,398 ) 7,745 (71,541 ) (48,999 ) Logistics services segment (41,699 ) 91,147 132,530 363,569 Property management and subleasing (168,012 ) 131,213 (181,372 ) 254,934 Total of reportable segments $ (240,109 ) $ 230,105 $ (120,383 ) $ 569,504 Corporate and other (209,483 ) (323,072 ) (895,090 ) (546,217 ) Total consolidated income (loss) from operations (449,592 ) (92,967 ) (1,015,473 ) 23,287 Total assets by segment as of December 31, 2023 and March 31, 2023 are as follows: SCHEDULE OF SEGMENT REPORTING FOR ASSETS Total assets December 31, 2023 March 31, 2023 Garment manufacturing segment $ 2,622,846 $ 2,169,973 Logistics services segment 2,999,261 2,476,841 Property management and subleasing 21,111,864 - Total of reportable segments 26,733,971 4,646,814 Corporate and other 27,051,558 36,656,067 Consolidated total assets $ 53,785,529 $ 41,302,881 Geographical Information The Company operates predominantly in China. In presenting information on the basis of geographical location, revenue is based on the geographical location of customers and long-lived assets are based on the geographical location of the assets. Geographic Information SCHEDULE OF GEOGRAPHICAL INFORMATION Three months ended Nine months ended 2023 2022 2023 2022 Revenues China 1,468,496 2,122,242 3,856,316 6,652,645 Total 1,468,496 2,122,242 3,856,316 6,652,645 December 31, 2023 March 31, 2023 Long-Lived Assets China 23,473,610 3,511,640

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Dec. 31, 2023
Investments, All Other Investments [Abstract]
FINANCIAL INSTRUMENTS	16. FINANCIAL INSTRUMENTS On January 4, 2023, the Company entered into a series of agreements with certain accredited investors, pursuant to which the Company received a net proceed of $ 15,000,000 ● senior secured convertible notes in the aggregate original principal amount of approximately $ 16.7 5 July 4, 2024 1.25 ● warrants to purchase up to approximately 16.1 1.25 The Warrant is considered a freestanding instrument issued together with the Convertible Note and measured at its issuance date fair value. Proceeds received were first allocated to the Warrant based on its initial fair value. The initial fair value of the Warrant was $ 3.9 268,435 2.0 The Convertible Note is classified as a liability and is subsequently stated at amortized cost with any difference between the initial carrying value and the repayment amount as interest expenses using the effective interest method over the period from the issuance date to the maturity date. The embedded conversion feature should be bifurcated and separately accounted for using fair value, as this embedded feature is considered not clearly and closely related to the debt host. The bifurcated conversion feature was recorded at fair value with the changes recorded in the consolidated statements of operations and comprehensive loss. The initial fair value of the embedded conversion feature was $ 1.2 The Company determined that the other embedded features do not require bifurcation as they either are clearly and closely related to the Convertible Note or do not meet the definition of a derivative. The total proceeds of the Convertible Note and the Warrants, net of issuance cost, of $ 15.0 SCHEDULE OF FINANCIAL INSTRUMENTS As of January 4, 2023 Derivative liabilities – Fair value of the Warrants $ 3,858,521 Derivative liabilities – Embedded conversion feature 1,247,500 Convertible Note 9,893,979 $ 15,000,000 In January 2023, the Company also granted to the placement agent a warrant as partial of agent fee to purchase 0.7 five years 1.25 0.168 The movement of the Company’s convertible notes obligations were as the following for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF CONVERTIBLE NOTES OBLIGATION 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 Carrying value – beginning balance $ 2,583,324 $ - $ 9,893,979 $ - Converted to ordinary shares (51,530 ) - (4,629,520 ) - Reversal of debt discount due to conversion 4,012 886,191 Redemption - - (5,687,056 ) - Amortization of debt discount 364,400 - 2,616,008 - Deferred debt discount and cost of issuance (677,683 ) - (1,815,995 ) - Interest charge 153,589 - 1,112,505 - Carrying value – ending balance $ 2,376,112 $ - $ 2,376,112 $ - During the three months ended December 31 2023, approximately $ 51,530 50,298 1.0245 During the nine months ended December 31 2023, approximately $ 4.6 3.11 1.4896 On July 13, 2023, the Company entered into a Waiver and Ratification Agreement with one of the holders of the Convertible Note. According to the agreement, the holder redeemed the full amount of $ 7.5 The Company’s derivative liabilities were as the following for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE LIABILITIES 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 Derivative liabilities –Warrants $ $ $ $ - Beginning balance 268,435 - 4,026,521 - Marked to the market 704,640 - (3,053,446 ) - Ending fair value 973,075 - 973,075 - - Derivative liabilities – Embedded conversion feature - Beginning balance 24,549 - 1,247,500 - Converted to ordinary shares (503 ) - (454,097 ) - Remeasurement on change of convertible price 677,683 - 1,815,996 - Redemption - - (1,115,627 ) - Marked to the market 1,033,953 - 241,910 - Ending fair value 1,735,682 - 1,735,682 - - - Total Derivative fair value at end of period $ 2,708,757 $ - $ 2,708,757 $ -

LEASE RIGHT-OF-USE ASSET AND LE

LEASE RIGHT-OF-USE ASSET AND LEASE LIABILITIES	9 Months Ended
	Dec. 31, 2023
Lease Right-of-use Asset And Lease Liabilities
LEASE RIGHT-OF-USE ASSET AND LEASE LIABILITIES	17. LEASE RIGHT-OF-USE ASSET AND LEASE LIABILITIES The Company recognized right-of-use asset as well as lease liability according to the ASC 842, Leases (with the exception of short-term leases). Lease liabilities are measured at present value of the sum of remaining rental payments as of December 31, 2023, with average discounted rate of 4.9 The Company leases its head office. The lease period is 5 4.5 16 The Following table summarizes the components of lease expense: SCHEDULE OF LEASE COST 2023 2022 2023 2022 Three months ended Nine months ended 2023 2022 2023 2022 Operating lease cost 362,991 902,455 437,791 2,723,514 Short-term lease cost 36,830 19,540 94,881 58,955 Lease Cost $ 399,821 $ 921,995 $ 532,672 $ 2,782,469 The following table summarizes supplemental information related to leases: SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES 2023 2022 2023 2022 Three months ended Nine months ended 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flow from operating leases $ 399,821 $ 921,995 532,672 2,782,469 Right-of-use assets obtained in exchange for new operating leases liabilities 671,059 159,758 20,183,459 (332,682 ) Weighted average remaining lease term - Operating leases (years) 14.6 1.1 14.6 1.1 Weighted average discount rate - Operating leases 4.90 % 4.75 % 4.90 % 4.75 % The following table summarizes the maturity of operating lease liabilities: SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITY Years ending December 31 Lease cost 2024 $ 1,132,384 2025 1,077,906 2026 1,012,052 2027 1,177,909 2028 and there after 26,030,167 Total lease payments 30,430,418 Less: Interest (10,321,433 ) Total $ 20,108,985

SHARE CAPITAL

SHARE CAPITAL	9 Months Ended
	Dec. 31, 2023
Equity [Abstract]
SHARE CAPITAL	18. SHARE CAPITAL The Company effected the amendment and combination to the outstanding shares of our common stock into a lesser number of outstanding shares (the “Reverse Stock Split Amendment”) on a ratio of one-for-ten, with effected date on June 26, 2023.

RISKS AND UNCERTAINTIES

RISKS AND UNCERTAINTIES	9 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
RISKS AND UNCERTAINTIES	19. RISKS AND UNCERTAINTIES (a) Economic and Political Risks The Company’s operations are conducted in the PRC. Accordingly, the Company’s business, financial condition and results of operations may be influenced by the political, economic and legal environment in the PRC, and by the general state of the PRC economy. The Company’s operations in the PRC are subject to special considerations and significant risks not typically associated with companies in North America and Western Europe. These include risks associated with, among others, the political, economic and legal environment and foreign currency exchange. The Company’s results may be adversely affected by changes in the political and social conditions in the PRC, and by changes in governmental policies with respect to laws and regulations, anti-inflationary measures, currency conversion, remittances abroad, and rates and methods of taxation. (b) Foreign Currency Translation The Company’s reporting currency is the U.S. dollar. The functional currency of the parent company is the U.S. dollar and the functional currency of the Company’s operating subsidiaries is the Chinese Renminbi (“RMB”). For the subsidiaries whose functional currencies are the RMB, all assets and liabilities are translated at exchange rates at the balance sheet date, which was 7.10 6.87 7.148 6.603 (c) Concentration Risks The followings are the percentages of accounts receivable balance of the top customers over accounts receivable for each segment as of December 31, 2023 and March 31, 2023. Garment manufacturing segment SCHEDULE OF CONCENTRATION RISKS December 31, 2023 March 31, 2023 Customer A 89.3 % 82.5 % Customer B 10.7 % 9.9 % The high concentration as of December 31, 2023 was mainly due to business development of a large distributor of garments. Management believes that should the Company lose any one of its major customers, it was able to sell similar products to other customers. Logistics services segment December 31, 2023 March 31, 2023 Customer A 23.4 % 11.4 % Customer B 16.9 % 10.2 % Customer C 11.0 % 6.4 % Customer D 9.1 % 14.1 % Customer E 4.8 % Nil Property management and subleasing segment There is no account receivable for Property management and subleasing segment as for December 31, and March 31, 2023. Concentration on customers For the three months ended December 31, 2023, two customers from Logistics services segment provided more than 10 31.8 10 11.8% 10 16.5 10 10.8% Management believes that should the Company lose any one of its major customers, it was able to sell similar products to other customers. Concentration on suppliers The following tables summarized the purchases from five largest suppliers of each of the reportable segments for the three and nine months ended December 31, 2023 and 2022. SCHEDULE OF PURCHASES FROM SUPPLIERS Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 Garment manufacturing segment Nil % Nil % Nil % Nil % Logistics services segment 100 % 100.0 % 100 % 100.0 % Property management and subleasing 100.0 % 100.0 % 100.0 % 100.0 % (d) Interest Rate Risk The Company’s exposure to interest rate risk primarily relates to the interest expenses on our outstanding bank borrowings and the interest income generated by cash invested in cash deposits and liquid investments. As of December 31, 2023, the total outstanding borrowings amounted to $ 309,175 2,194,255 3.9 6.72

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with US 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 revenues and expenses during the reporting periods. Management makes these estimates using the best information available at the time the estimates are made; however actual results could differ materially from those estimates.
Accounts receivable, net	Accounts receivable, net Accounts receivable, net are stated at the historical carrying amount net of allowance for doubtful accounts. Account receivables are classified as financial assets subsequently measured at amortized cost. Account receivables are recognized when the Company becomes a party to the contractual provisions of the receivables. They are measured, at initial recognition, at fair value plus transaction costs, if any and are subsequently measured at amortized cost. The amortized cost is the amount recognized on the receivable initially, minus principal repayments, plus cumulative amortization (interest) using the effective interest method of any difference between the initial amount and the maturity amount, adjusted for any loss allowance. A loss allowance for expected credit losses is recognized on account receivables and is updated at each reporting date. The Company determines the expected credit losses provisions based on ASU No. 2016-13, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (‘‘ASC 326’’) using a modified retrospective approach which did not have a material impact on the opening balance of accumulated deficit. To determine expected credit losses on account receivables, the Company will consider the historic credit loss experience, adjusted for factors that are specific to the debtors, general economic conditions, and an assessment of both the current and forecasted direction of conditions at the reporting date, including the time value of money, where appropriate. The loss allowance is calculated on a collective basis for all trade and other receivables in totality. An impairment gain or loss is recognized in profit or loss with a corresponding adjustment to the carrying amount of account receivables, through use of a loss allowance account. The impairment loss is included in operating expenses as a movement in credit loss allowance. Receivables are written off when there is information indicating that the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, e.g., when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings. Receivables written off may still be subject to enforcement activities under the Company’s recovery procedures, considering legal advice where appropriate. Any recoveries made are recognized in profit or loss. There is no change in the accounting policies for the three months ended December 31, 2023.
Recently issued accounting pronouncements	Recently issued accounting pronouncements Accounting for Convertible Instruments: In August 2020, FASB issued ASU 2020-06, Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity (ASU 2020-06), as part of its overall simplification initiative to reduce costs and complexity of applying accounting standards while maintaining or improving the usefulness of the information provided to users of financial statements. Among other changes, the new guidance removes from GAAP separation models for convertible debt that require the convertible debt to be separated into a debt and equity component, unless the conversion feature is required to be bifurcated and accounted for as a derivative or the debt is issued at a substantial premium. As a result, after adopting the guidance, entities will no longer separately present such embedded conversion features in equity and will instead account for the convertible debt wholly as debt. The new guidance also requires use of the “if-converted” method when calculating the dilutive impact of convertible debt on earnings per share, which is consistent with the Company’s current accounting treatment under the current guidance. The guidance is effective for financial statements issued for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years, with early adoption permitted, but only at the beginning of the fiscal year. The Company reviews new accounting standards as issued. Management has not identified any other new standards that it believes will have a significant impact on the Company’s consolidated financial statements.

BUSINESS ACQUISITION (Tables)

BUSINESS ACQUISITION (Tables)	9 Months Ended
	Dec. 31, 2023
Business Combination and Asset Acquisition [Abstract]
SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED	The following table summarizes the fair values of the assets acquired and liabilities assumed as of the date of acquisition: SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED September 5, 2023 Cash in bank $ 226,162 Other receivables 705,510 Fixed assets, net 58,493 Long-term prepayments 192,391 Advance from customers (89,616 ) Payroll payable (19,239 ) Other tax payable (4,633 ) Other payables (629,602 ) Net book value at acquisition date 439,466 Gain on bargain purchase (996 ) Purchase price $ 438,470

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
SUMMARY OF FINANCIAL POSITION OF ENTITIES AND GAIN OR LOSS ON DISPOSAL	SUMMARY OF FINANCIAL POSITION OF ENTITIES AND GAIN OR LOSS ON DISPOSAL Name of Related Parties Relationship with the Company Zhida Hong President, CEO, and a director of the Company Hongye Financial Consulting (Shenzhen) Co., Ltd A company controlled by CEO, Mr. Zhida Hong Bihua Yang A legal representative of XKJ Dewu Huang A legal representative of YBY Jinlong Huang Management of HSW
SCHEDULE OF AMOUNT DUE FROM RELATED PARTY	The Company had the following related party balances as of December 31, 2023 and March 31, 2023: SCHEDULE OF AMOUNT DUE FROM RELATED PARTY Amount due from related party December 31, 2023 March 31, 2023 Zhida Hong (1) $ 2,111,557 $ - Bihua Yang 697,559 375,092 Amount due from related party $ 2,809,116 $ 375,092
SCHEDULE OF RELATED PARTIES BORROWINGS	SCHEDULE OF RELATED PARTIES BORROWINGS Related party borrowings December 31, 2023 March 31, 2023 Zhida Hong $ - $ 901,110 Hongye Financial Consulting (Shenzhen) Co., Ltd. 146,388 45,841 Dewu Huang (2) 1,862,446 1,305,758 Jinlong Huang 116,166 131,924 Total Related party borrowings $ 2,125,000 $ 2,384,633 (1) Being cash advance to Zhida Hong to pay for new brand development fee of the Company. (2) Being interest free loan as financial support from Dewu Huang to pay for daily operating expenditures of YBY.

DEBT SECURITIES HELD-TO-MATUR_2

DEBT SECURITIES HELD-TO-MATURITY (Tables)	9 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
SCHEDULE OF DEBT SECURITIES HELD TO MATURITY	SCHEDULE OF DEBT SECURITIES HELD TO MATURITY December 31, 2023 March 31, 2023 Debt securities held-to-maturity $ - $ 17,718,750

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Dec. 31, 2023
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORIES	Inventories consist of the following as of December 31, 2023 and March 31, 2023: SCHEDULE OF INVENTORIES December 31, 2023 March 31, 2023 Raw materials $ 67,448 $ 19,484 Work in progress - 9,373 Finished goods 236,952 256,671 Total inventories $ 304,400 $ 285,528

PREPAYMENTS AND OTHER RECEIVA_2

PREPAYMENTS AND OTHER RECEIVABLES (Tables)	9 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
SCHEDULE OF PREPAYMENTS AND OTHER RECEIVABLES	Prepayments and other receivables consist of the following as of December 31, 2023 and March 31, 2023: SCHEDULE OF PREPAYMENTS AND OTHER RECEIVABLES December 31, 2023 March 31, 2023 Prepayment 36,761 10,913 Deposit 750,932 40,341 Receivable of consideration on disposal of subsidiaries 233,956 708,457 Receivable of matured debt security (Note) 17,937,500 - Other receivables 300,511 199,485 Total Prepayment $ 19,259,660 $ 959,196

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
SCHEDULE OF PLANT AND EQUIPMENT	Property, plant and equipment consists of the following as of December 31, 2023 and March 31, 2023: SCHEDULE OF PLANT AND EQUIPMENT December 31, 2023 March 31, 2023 Production plant $ 107,573 $ 68,345 Motor vehicles 1,065,287 1,100,683 Office equipment 53,143 26,025 Total gross 1,226,003 1,195,053 Less: accumulated depreciation (618,692 ) (545,933 ) Plant and equipment, net $ 607,311 $ 649,120

TAXATION (Tables)

TAXATION (Tables)	9 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION	The reconciliation of income taxes computed at the PRC statutory tax rate applicable to the PRC, to income tax expenses are as follows: SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 PRC statutory tax rate 25 % 25 % 25 % 25 % Computed expected benefits (651,109 ) (18,509 ) (991,564 ) 29,152 Temporary differences 37,772 (54,616 ) 13,003 (148,387 ) Permanent difference 93,336 9,933 99,648 13,278 Changes in valuation allowance 523,226 71,376 886,639 124,896 Income tax expense $ 3,225 $ 8,184 7,726 18,939

CONSOLIDATED SEGMENT DATA (Tabl

CONSOLIDATED SEGMENT DATA (Tables)	9 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
SCHEDULE OF SEGMENT REPORTING FOR REVENUE	Revenues by segment for the three and nine months ended December 31, 2023 and 2022 are as follows: SCHEDULE OF SEGMENT REPORTING FOR REVENUE Revenues from external customers 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, Revenues from external customers 2023 2022 2023 2022 Garments manufacturing segment 27,015 100,723 172,106 142,010 Logistics services segment 1,189,004 1,213,530 3,373,670 3,826,070 Property management and subleasing 252,477 796,343 310,540 2,671,379 Total of reportable segments 1,468,496 $ 2,110,596 $ 3,856,316 $ 6,639,459 Corporate and other - 11,646 - 13,186 Total consolidated revenue $ 1,468,496 $ 2,122,242 $ 3,856,316 $ 6,652,645 Revenues from external customers - - - -
SCHEDULE OF SEGMENT REPORTING FOR (LOSS) INCOME FROM OPERATION	(Loss) Income from operations by segment for the three ended December 31, 2023 and 2022 are as follows: SCHEDULE OF SEGMENT REPORTING FOR (LOSS) INCOME FROM OPERATION 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 Garments manufacturing segment (30,398 ) 7,745 (71,541 ) (48,999 ) Logistics services segment (41,699 ) 91,147 132,530 363,569 Property management and subleasing (168,012 ) 131,213 (181,372 ) 254,934 Total of reportable segments $ (240,109 ) $ 230,105 $ (120,383 ) $ 569,504 Corporate and other (209,483 ) (323,072 ) (895,090 ) (546,217 ) Total consolidated income (loss) from operations (449,592 ) (92,967 ) (1,015,473 ) 23,287
SCHEDULE OF SEGMENT REPORTING FOR ASSETS	Total assets by segment as of December 31, 2023 and March 31, 2023 are as follows: SCHEDULE OF SEGMENT REPORTING FOR ASSETS Total assets December 31, 2023 March 31, 2023 Garment manufacturing segment $ 2,622,846 $ 2,169,973 Logistics services segment 2,999,261 2,476,841 Property management and subleasing 21,111,864 - Total of reportable segments 26,733,971 4,646,814 Corporate and other 27,051,558 36,656,067 Consolidated total assets $ 53,785,529 $ 41,302,881
SCHEDULE OF GEOGRAPHICAL INFORMATION	SCHEDULE OF GEOGRAPHICAL INFORMATION Three months ended Nine months ended 2023 2022 2023 2022 Revenues China 1,468,496 2,122,242 3,856,316 6,652,645 Total 1,468,496 2,122,242 3,856,316 6,652,645 December 31, 2023 March 31, 2023 Long-Lived Assets China 23,473,610 3,511,640

FINANCIAL INSTRUMENTS (Tables)

FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Dec. 31, 2023
Investments, All Other Investments [Abstract]
SCHEDULE OF FINANCIAL INSTRUMENTS	SCHEDULE OF FINANCIAL INSTRUMENTS As of January 4, 2023 Derivative liabilities – Fair value of the Warrants $ 3,858,521 Derivative liabilities – Embedded conversion feature 1,247,500 Convertible Note 9,893,979 $ 15,000,000
SCHEDULE OF CONVERTIBLE NOTES OBLIGATION	SCHEDULE OF CONVERTIBLE NOTES OBLIGATION 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 Carrying value – beginning balance $ 2,583,324 $ - $ 9,893,979 $ - Converted to ordinary shares (51,530 ) - (4,629,520 ) - Reversal of debt discount due to conversion 4,012 886,191 Redemption - - (5,687,056 ) - Amortization of debt discount 364,400 - 2,616,008 - Deferred debt discount and cost of issuance (677,683 ) - (1,815,995 ) - Interest charge 153,589 - 1,112,505 - Carrying value – ending balance $ 2,376,112 $ - $ 2,376,112 $ -
SCHEDULE OF DERIVATIVE LIABILITIES	The Company’s derivative liabilities were as the following for the three and nine months ended December 31, 2023 and 2022: SCHEDULE OF DERIVATIVE LIABILITIES 2023 2022 2023 2022 Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 Derivative liabilities –Warrants $ $ $ $ - Beginning balance 268,435 - 4,026,521 - Marked to the market 704,640 - (3,053,446 ) - Ending fair value 973,075 - 973,075 - - Derivative liabilities – Embedded conversion feature - Beginning balance 24,549 - 1,247,500 - Converted to ordinary shares (503 ) - (454,097 ) - Remeasurement on change of convertible price 677,683 - 1,815,996 - Redemption - - (1,115,627 ) - Marked to the market 1,033,953 - 241,910 - Ending fair value 1,735,682 - 1,735,682 - - - Total Derivative fair value at end of period $ 2,708,757 $ - $ 2,708,757 $ -

LEASE RIGHT-OF-USE ASSET AND _2

LEASE RIGHT-OF-USE ASSET AND LEASE LIABILITIES (Tables)	9 Months Ended
	Dec. 31, 2023
Lease Right-of-use Asset And Lease Liabilities
SCHEDULE OF LEASE COST	The Following table summarizes the components of lease expense: SCHEDULE OF LEASE COST 2023 2022 2023 2022 Three months ended Nine months ended 2023 2022 2023 2022 Operating lease cost 362,991 902,455 437,791 2,723,514 Short-term lease cost 36,830 19,540 94,881 58,955 Lease Cost $ 399,821 $ 921,995 $ 532,672 $ 2,782,469
SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES	The following table summarizes supplemental information related to leases: SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES 2023 2022 2023 2022 Three months ended Nine months ended 2023 2022 2023 2022 Cash paid for amounts included in the measurement of lease liabilities Operating cash flow from operating leases $ 399,821 $ 921,995 532,672 2,782,469 Right-of-use assets obtained in exchange for new operating leases liabilities 671,059 159,758 20,183,459 (332,682 ) Weighted average remaining lease term - Operating leases (years) 14.6 1.1 14.6 1.1 Weighted average discount rate - Operating leases 4.90 % 4.75 % 4.90 % 4.75 %
SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITY	The following table summarizes the maturity of operating lease liabilities: SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITY Years ending December 31 Lease cost 2024 $ 1,132,384 2025 1,077,906 2026 1,012,052 2027 1,177,909 2028 and there after 26,030,167 Total lease payments 30,430,418 Less: Interest (10,321,433 ) Total $ 20,108,985

RISKS AND UNCERTAINTIES (Tables

RISKS AND UNCERTAINTIES (Tables)	9 Months Ended
	Dec. 31, 2023
Risks and Uncertainties [Abstract]
SCHEDULE OF CONCENTRATION RISKS	The followings are the percentages of accounts receivable balance of the top customers over accounts receivable for each segment as of December 31, 2023 and March 31, 2023. Garment manufacturing segment SCHEDULE OF CONCENTRATION RISKS December 31, 2023 March 31, 2023 Customer A 89.3 % 82.5 % Customer B 10.7 % 9.9 % The high concentration as of December 31, 2023 was mainly due to business development of a large distributor of garments. Management believes that should the Company lose any one of its major customers, it was able to sell similar products to other customers. Logistics services segment December 31, 2023 March 31, 2023 Customer A 23.4 % 11.4 % Customer B 16.9 % 10.2 % Customer C 11.0 % 6.4 % Customer D 9.1 % 14.1 % Customer E 4.8 % Nil
SCHEDULE OF PURCHASES FROM SUPPLIERS	The following tables summarized the purchases from five largest suppliers of each of the reportable segments for the three and nine months ended December 31, 2023 and 2022. SCHEDULE OF PURCHASES FROM SUPPLIERS Three months ended Nine months ended December 31, December 31, 2023 2022 2023 2022 Garment manufacturing segment Nil % Nil % Nil % Nil % Logistics services segment 100 % 100.0 % 100 % 100.0 % Property management and subleasing 100.0 % 100.0 % 100.0 % 100.0 %

SCHEDULE OF ASSETS ACQUIRED AND

SCHEDULE OF ASSETS ACQUIRED AND LIABILITIES ASSUMED (Details) - Dongguan Hongxiang Commercial Co Ltd [Member]	Sep. 05, 2023 USD ($)
Business Acquisition [Line Items]
Cash in bank	$ 226,162
Other receivables	705,510
Fixed assets, net	58,493
Long-term prepayments	192,391
Advance from customers	(89,616)
Payroll payable	(19,239)
Other tax payable	(4,633)
Other payables	(629,602)
Net book value at acquisition date	439,466
Gain on bargain purchase	(996)
Purchase price	$ 438,470

BUSINESS ACQUISITION (Details N

BUSINESS ACQUISITION (Details Narrative) - Dongguan Hongxiang Commercial Co Ltd [Member] ¥ in Millions	1 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 CNY (¥)
Business Acquisition [Line Items]
Percentage of business auquisition of equity interest	100%	100%
Cash consideration	$ 438,470	¥ 3.2
Gain on bargain purchase	$ 996

SUMMARY OF FINANCIAL POSITION O

SUMMARY OF FINANCIAL POSITION OF ENTITIES AND GAIN OR LOSS ON DISPOSAL (Details)	9 Months Ended
	Dec. 31, 2023
Zhida Hong [Member]
Related Party Transaction [Line Items]
Name of Related Parties	Zhida Hong
Relationship with the Company	President, CEO, and a director of the Company
Hongye Financial Consulting (Shenzhen) Co., Ltd. [Member]
Related Party Transaction [Line Items]
Name of Related Parties	Hongye Financial Consulting (Shenzhen) Co., Ltd
Relationship with the Company	A company controlled by CEO, Mr. Zhida Hong
Bihua Yang [Member]
Related Party Transaction [Line Items]
Name of Related Parties	Bihua Yang
Relationship with the Company	A legal representative of XKJ
Dewu Huang [Member]
Related Party Transaction [Line Items]
Name of Related Parties	Dewu Huang
Relationship with the Company	A legal representative of YBY
Jinlong Huang [Member]
Related Party Transaction [Line Items]
Name of Related Parties	Jinlong Huang
Relationship with the Company	Management of HSW

SCHEDULE OF AMOUNT DUE FROM REL

SCHEDULE OF AMOUNT DUE FROM RELATED PARTY (Details) - USD ($)		Dec. 31, 2023	Mar. 31, 2023
Zhida Hong [Member]
Related Party Transaction [Line Items]
Amount due from related party	[1]	$ 2,111,557
Bihua Yang [Member]
Related Party Transaction [Line Items]
Amount due from related party		697,559	375,092
Related Party [Member]
Related Party Transaction [Line Items]
Amount due from related party		$ 2,809,116	$ 375,092
[1]Being cash advance to Zhida Hong to pay for new brand development fee of the Company.

SCHEDULE OF RELATED PARTIES BOR

SCHEDULE OF RELATED PARTIES BORROWINGS (Details) - USD ($)		9 Months Ended	12 Months Ended
		Dec. 31, 2023	Mar. 31, 2023
Related Party Transaction [Line Items]
Total Related party borrowings		$ 2,125,000	$ 2,384,633
Zhida Hong [Member]
Related Party Transaction [Line Items]
Total Related party borrowings			901,110
Hongye Financial Consulting (Shenzhen) Co., Ltd. [Member]
Related Party Transaction [Line Items]
Total Related party borrowings		146,388	45,841
Dewu Huang [Member]
Related Party Transaction [Line Items]
Total Related party borrowings	[1]	1,862,446	1,305,758
Jinlong Huang [Member]
Related Party Transaction [Line Items]
Total Related party borrowings		$ 116,166	$ 131,924
[1]Being interest free loan as financial support from Dewu Huang to pay for daily operating expenditures of YBY.

SCHEDULE OF DEBT SECURITIES HEL

SCHEDULE OF DEBT SECURITIES HELD TO MATURITY (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023	Aug. 24, 2022
Investments, Debt and Equity Securities [Abstract]
Debt securities held-to-maturity		$ 17,718,750	$ 17,500,000

DEBT SECURITIES HELD-TO-MATUR_3

DEBT SECURITIES HELD-TO-MATURITY (Details Narrative) - USD ($)	Dec. 31, 2023	Mar. 31, 2023	Jan. 04, 2023	Aug. 24, 2022
Investments, Debt and Equity Securities [Abstract]
Debt securities		$ 17,718,750		$ 17,500,000
Debt interest percent	2.50%		5%
Coupon receivable	$ 437,500	$ 218,750

SCHEDULE OF INVENTORIES (Detail

SCHEDULE OF INVENTORIES (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 67,448	$ 19,484
Work in progress		9,373
Finished goods	236,952	256,671
Total inventories	$ 304,400	$ 285,528

SCHEDULE OF PREPAYMENTS AND OTH

SCHEDULE OF PREPAYMENTS AND OTHER RECEIVABLES (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Receivables [Abstract]
Prepayment	$ 36,761	$ 10,913
Deposit	750,932	40,341
Receivable of consideration on disposal of subsidiaries	233,956	708,457
Receivable of matured debt security (Note)	17,937,500
Other receivables	300,511	199,485
Total Prepayment	$ 19,259,660	$ 959,196

SCHEDULE OF PLANT AND EQUIPMENT

SCHEDULE OF PLANT AND EQUIPMENT (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Property, Plant and Equipment [Line Items]
Total gross	$ 1,226,003	$ 1,195,053
Less: accumulated depreciation	(618,692)	(545,933)
Plant and equipment, net	607,311	649,120
Production Plant [Member]
Property, Plant and Equipment [Line Items]
Total gross	107,573	68,345
Motor Vehicles [Member]
Property, Plant and Equipment [Line Items]
Total gross	1,065,287	1,100,683
Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Total gross	$ 53,143	$ 26,025

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 29,004	$ 33,817	$ 86,005	$ 102,649

LONG-TERM RECEIVABLES (Details

LONG-TERM RECEIVABLES (Details Narrative) - USD ($)	9 Months Ended
	Dec. 31, 2023	Jun. 13, 2023	Jan. 04, 2023
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument face amount	$ 51,530	$ 7,500,000	$ 16,700,000
Loan Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Debt Instrument face amount	$ 2,500,000
Debt instrument, description	The loan is interest free and will expire in August 2025

SHORT-TERM BANK LOAN (Details N

SHORT-TERM BANK LOAN (Details Narrative)	9 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Mar. 31, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Feb. 28, 2023 USD ($)	Feb. 28, 2023 CNY (¥)	Aug. 31, 2019 USD ($)	Aug. 31, 2019 CNY (¥)
Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate	3.90%
Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate	6.72%
Facility Agreement [Member] | Sichuam Xinwang Bank Co Ltd [Member]
Debt Instrument [Line Items]
Line of credit borrowing
Line of credit facility, interest rate		6.72%
Line of credit borrowing	$ 70,451	$ 70,451	¥ 500,000	70,451	¥ 500,000
Dongguan Agricultural Bank of China [Member] | Facility Agreement [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity								$ 153,172	¥ 1,000,000
Line of credit borrowing	$ 133,047	133,047	944,255	137,468
Dongguan Agricultural Bank of China [Member] | Facility Agreement [Member] | Minimum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate	4.34%
Dongguan Agricultural Bank of China [Member] | Facility Agreement [Member] | Maximum [Member]
Debt Instrument [Line Items]
Line of credit facility, interest rate	4.90%
China Construction Bank [Member] | Facility Agreement [Member]
Debt Instrument [Line Items]
Line of credit maximum borrowing capacity						$ 1,268,118	¥ 9,000,000
Line of credit borrowing	$ 105,677	$ 105,677	¥ 750,000
Line of credit annual interest	3.90%	3.90%	3.90%

SCHEDULE OF EFFECTIVE INCOME TA

SCHEDULE OF EFFECTIVE INCOME TAX RATE RECONCILIATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
PRC statutory tax rate	25%	25%	25%	25%
Computed expected benefits	$ (651,109)	$ (18,509)	$ (991,564)	$ 29,152
Temporary differences	37,772	(54,616)	13,003	(148,387)
Permanent difference	93,336	9,933	99,648	13,278
Changes in valuation allowance	523,226	71,376	886,639	124,896
Income tax expense	$ 3,225	$ 8,184	$ 7,726	$ 18,939

TAXATION (Details Narrative)

TAXATION (Details Narrative)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Operating Loss Carryforwards [Line Items]
Effective federal statutory tax rate	25%	25%	25%	25%
Percentage of preferential value added tax			3%	3%
HSW, DT and YS [Member]
Operating Loss Carryforwards [Line Items]
Percentage of preferential value added tax			13%
Domestic Tax Authority [Member]
Operating Loss Carryforwards [Line Items]
Percentage of value added tax			13%
Logistic Company [Member]
Operating Loss Carryforwards [Line Items]
Percentage of value added tax			9%
HONG KONG
Operating Loss Carryforwards [Line Items]
Income tax rate			16.50%
Peoples Republic Of China [Member]
Operating Loss Carryforwards [Line Items]
Effective federal statutory tax rate			25%
Percentage on enterprise income tax			5%	15%
Percentage of preferential tax benefits and EIT rate and term description			The preferential tax rate will be expired at end of year 2023 and the EIT rate will be 25% from year 2024

SCHEDULE OF SEGMENT REPORTING F

SCHEDULE OF SEGMENT REPORTING FOR REVENUE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Revenues from external customers	$ 1,468,496	$ 2,122,242	$ 3,856,316	$ 6,652,645
Garment Manufacturing Segment [Member] | Reportable Legal Entities [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	27,015	100,723	172,106	142,010
Garment Manufacturing Segment [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenues from external customers
Logistic Services Segment [Member] | Reportable Legal Entities [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	1,189,004	1,213,530	3,373,670	3,826,070
Property Management and Subleasing [Member] | Reportable Legal Entities [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	252,477	796,343	310,540	2,671,379
Total of Reportable Segments [Member]
Segment Reporting Information [Line Items]
Revenues from external customers	1,468,496	2,110,596	3,856,316	6,639,459
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenues from external customers		$ 11,646		$ 13,186

SCHEDULE OF SEGMENT REPORTING_2

SCHEDULE OF SEGMENT REPORTING FOR (LOSS) INCOME FROM OPERATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Segment Reporting Information [Line Items]
Total consolidated income (loss) from operations	$ (449,592)	$ (92,967)	$ (1,015,473)	$ 23,287
Garment Manufacturing Segment [Member]
Segment Reporting Information [Line Items]
Total consolidated income (loss) from operations	(30,398)	7,745	(71,541)	(48,999)
Logistic Services Segment [Member]
Segment Reporting Information [Line Items]
Total consolidated income (loss) from operations	(41,699)	91,147	132,530	363,569
Property Management and Subleasing [Member]
Segment Reporting Information [Line Items]
Total consolidated income (loss) from operations	(168,012)	131,213	(181,372)	254,934
Total of Reportable Segments [Member]
Segment Reporting Information [Line Items]
Total consolidated income (loss) from operations	(240,109)	230,105	(120,383)	569,504
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Total consolidated income (loss) from operations	$ (209,483)	$ (323,072)	$ (895,090)	$ (546,217)

SCHEDULE OF SEGMENT REPORTING_3

SCHEDULE OF SEGMENT REPORTING FOR ASSETS (Details) - USD ($)	Dec. 31, 2023	Mar. 31, 2023
Segment Reporting Information [Line Items]
Consolidated total assets	$ 53,785,529	$ 41,302,881
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	26,733,971	4,646,814
Segment Reconciling Items [Member] | Garment Manufacturing Segment [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	2,622,846	2,169,973
Segment Reconciling Items [Member] | Logistic Services Segment [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	2,999,261	2,476,841
Segment Reconciling Items [Member] | Property Management and Subleasing [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	21,111,864
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Consolidated total assets	$ 27,051,558	$ 36,656,067

SCHEDULE OF GEOGRAPHICAL INFORM

SCHEDULE OF GEOGRAPHICAL INFORMATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2023
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 1,468,496	$ 2,122,242	$ 3,856,316	$ 6,652,645
CHINA
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	1,468,496	$ 2,122,242	3,856,316	$ 6,652,645
Long-Lived Assets	$ 23,473,610		$ 23,473,610		$ 3,511,640

SCHEDULE OF FINANCIAL INSTRUMEN

SCHEDULE OF FINANCIAL INSTRUMENTS (Details) - USD ($)			3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 04, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Derivative liabilities - Fair value of the Warrants		$ 3,900,000	$ 1,738,593		$ 172,001
Derivative liabilities - Embedded conversion feature		1,200,000
Total	$ 15,000,000	15,000,000
Derivative [Member]
Debt Securities, Held-to-Maturity, Allowance for Credit Loss [Line Items]
Derivative liabilities - Fair value of the Warrants		3,858,521
Derivative liabilities - Embedded conversion feature		1,247,500
Convertible Note		9,893,979
Total		$ 15,000,000

SCHEDULE OF CONVERTIBLE NOTES O

SCHEDULE OF CONVERTIBLE NOTES OBLIGATION (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Investments, All Other Investments [Abstract]
Carrying value – beginning balance	$ 2,583,324		$ 9,893,979
Converted to ordinary shares	(51,530)		(4,629,520)
Reversal of debt discount due to conversion	4,012		886,191
Redemption			(5,687,056)
Amortization of debt discount	364,400		2,616,008
Deferred debt discount and cost of issuance	(677,683)		(1,815,995)
Interest charge	153,589		1,112,505
Carrying value – ending balance	$ 2,376,112		$ 2,376,112

SCHEDULE OF DERIVATIVE LIABILIT

SCHEDULE OF DERIVATIVE LIABILITIES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Investments, All Other Investments [Abstract]
Beginning balance	$ 268,435		$ 4,026,521
Marked to the market	704,640		(3,053,446)
Ending fair value	973,075		973,075
Beginning balance	24,549		1,247,500
Converted to ordinary shares	(503)		(454,097)
Remeasurement on change of convertible price	677,683		1,815,996
Redemption			(1,115,627)
Marked to the market	1,033,953		241,910
Ending fair value	1,735,682		1,735,682
Total Derivative fair value at end of period	$ 2,708,757		$ 2,708,757

FINANCIAL INSTRUMENTS (Details

FINANCIAL INSTRUMENTS (Details Narrative) - USD ($)			3 Months Ended		9 Months Ended
	Jan. 31, 2023	Jan. 04, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022	Jun. 13, 2023	Mar. 31, 2023
Proceeds from issuance of convertible debt and warrants	$ 15,000,000	$ 15,000,000
Convertible note principal		$ 16,700,000	$ 51,530		$ 51,530		$ 7,500,000
Debt interest percent		5%	2.50%		2.50%
Conversion price		$ 1.25	$ 1.0245		$ 1.0245
Warrant exercise price	$ 1.25		$ 1.25		$ 1.25
Fair value of warrant		$ 3,900,000	$ 1,738,593		$ 172,001
Warrants			268,435		268,435			$ 2,000,000
Derivative liabilities, embedded conversion feature		$ 1,200,000
Agent fees	$ 700,000
Warrant term	5 years
Fair value of derivative liability	$ 168,000		$ 2,708,757		2,708,757
Convertible note into ordinary shares			50,298
:Convertible Note [Member]
Convertible note principal			$ 4,600,000		$ 4,600,000
Conversion price			$ 1.4896		$ 1.4896
Convertible note into ordinary shares					3,110,000
Maximum [Member]
Warrant outstanding		16,100,000
Warrant [Member]
Maturity date		Jul. 04, 2024

SCHEDULE OF LEASE COST (Details

SCHEDULE OF LEASE COST (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Lease Right-of-use Asset And Lease Liabilities
Operating lease cost	$ 362,991	$ 902,455	$ 437,791	$ 2,723,514
Short-term lease cost	36,830	19,540	94,881	58,955
Lease Cost	$ 399,821	$ 921,995	$ 532,672	$ 2,782,469

SCHEDULE OF SUPPLEMENTAL INFORM

SCHEDULE OF SUPPLEMENTAL INFORMATION RELATED TO LEASES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Lease Right-of-use Asset And Lease Liabilities
Operating cash flow from operating leases	$ 399,821	$ 921,995	$ 532,672	$ 2,782,469
Right-of-use assets obtained in exchange for new operating leases liabilities	$ 671,059	$ 159,758	$ 20,183,459	$ (332,682)
Weighted average remaining lease term - Operating leases (years)	14 years 7 months 6 days	1 year 1 month 6 days	14 years 7 months 6 days	1 year 1 month 6 days
Weighted average discount rate - Operating leases	4.90%	4.75%	4.90%	4.75%

SCHEDULE OF MATURITY OF OPERATI

SCHEDULE OF MATURITY OF OPERATING LEASE LIABILITY (Details)	Dec. 31, 2023 USD ($)
Lease Right-of-use Asset And Lease Liabilities
2024	$ 1,132,384
2025	1,077,906
2026	1,012,052
2027	1,177,909
2028 and there after	26,030,167
Total lease payments	30,430,418
Less: Interest	(10,321,433)
Total	$ 20,108,985

LEASE RIGHT-OF-USE ASSET AND _3

LEASE RIGHT-OF-USE ASSET AND LEASE LIABILITIES (Details Narrative)	Dec. 31, 2023	Dec. 31, 2022
Weighted average discount rate leases	4.90%	4.75%
Plant and Dormitory [Member]
Lease period	4 years 6 months
Building [Member]
Lease period	16 years
Head Office [Member]
Lease period	5 years

SCHEDULE OF CONCENTRATION RISKS

SCHEDULE OF CONCENTRATION RISKS (Details) - Customer Concentration Risk [Member] - Accounts Receivable [Member]	9 Months Ended	12 Months Ended
	Dec. 31, 2023	Mar. 31, 2023
Customer A [Member] | Garment Manufacturing Segment [Member]
Concentration Risk [Line Items]
Percentage of risk	89.30%	82.50%
Customer A [Member] | Logistics Services Segment [Member]
Concentration Risk [Line Items]
Percentage of risk	23.40%	11.40%
Customer B [Member] | Garment Manufacturing Segment [Member]
Concentration Risk [Line Items]
Percentage of risk	10.70%	9.90%
Customer B [Member] | Logistics Services Segment [Member]
Concentration Risk [Line Items]
Percentage of risk	16.90%	10.20%
Customer C [Member] | Logistics Services Segment [Member]
Concentration Risk [Line Items]
Percentage of risk	11%	6.40%
Customer D [Member] | Logistics Services Segment [Member]
Concentration Risk [Line Items]
Percentage of risk	9.10%	14.10%
Customer E [Member] | Logistics Services Segment [Member]
Concentration Risk [Line Items]
Percentage of risk	4.80%

SCHEDULE OF PURCHASES FROM SUPP

SCHEDULE OF PURCHASES FROM SUPPLIERS (Details) - Five Largest Suppliers [Member]	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023	Dec. 31, 2022
Garment Manufacturing Segment [Member]
Concentration Risk [Line Items]
Percentage of inventory purchase
Logistic Services Segment [Member]
Concentration Risk [Line Items]
Percentage of inventory purchase	100%	100%	100%	100%
Property Management and Subleasing [Member]
Concentration Risk [Line Items]
Percentage of inventory purchase	100%	100%	100%	100%

RISKS AND UNCERTAINTIES (Detail

RISKS AND UNCERTAINTIES (Details Narrative)	3 Months Ended		9 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2023 USD ($)	Dec. 31, 2023 CNY (¥)	Dec. 31, 2022	Mar. 31, 2023
Concentration Risk [Line Items]
Translated exchange rates	7.10		7.10	7.10		6.87
Revenue and expenses translated average exchange rates	7.148	6.603
Outstanding borrowings			$ 309,175	¥ 2,194,255
Minimum [Member]
Concentration Risk [Line Items]
Interest rate percentage			3.90%	3.90%
Maximum [Member]
Concentration Risk [Line Items]
Interest rate percentage			6.72%	6.72%
Revenue, Segment Benchmark [Member] | Customer Concentration Risk [Member] | Two Customer [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	10%
Revenue, Segment Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		10%	10%	10%	10%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Two Customer [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	31.80%
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Concentration Risk [Line Items]
Concentration risk, percentage		11.80%	16.50%	16.50%	10.80%