Skillful Craftsman Education Technology Limited (EDTK) 20-F/A 17 Aug 23 2023 FY Annual report (foreign) (amended) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Mar. 31, 2023 shares
Document Information
Document Type	20-F/A
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Mar. 31, 2023
Entity File Number	001-39360
Entity Registrant Name	Skillful Craftsman Education Technology Limited
Entity Incorporation, State or Country Code	E9
Entity Address, Address Line One	Floor 4, Building 1, No. 311, Yanxin Road
Entity Address, Address Line Two	Huishan District
Entity Address, City or Town	Wuxi
Entity Address, Country	CN
Entity Address, Postal Zip Code	214000
Title of 12(b) Security	Ordinary shares, par value$0.0002 per share
Trading Symbol	EDTK
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
ICFR Auditor Attestation Flag	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Auditor Name	TPS Thayer, LLC
Auditor Firm ID	6706
Auditor Location	Sugar Land, Texas
Entity Common Stock, Shares Outstanding	15,691,667
Entity Central Index Key	0001782309
Current Fiscal Year End Date	--03-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false
Business Contact
Document Information
Entity Address, Address Line One	Floor 4, Building 1, No. 311, Yanxin Road
Entity Address, Address Line Two	Huishan District
Entity Address, City or Town	Wuxi
Entity Address, Country	CN
Entity Address, Postal Zip Code	214000
City Area Code	86
Contact Personnel Name	Xiaofeng Gao
Local Phone Number	0510-81805788

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)
Current assets:
Cash and cash equivalents	$ 20,998,786	$ 23,834,125
Accounts receivable, net	458,104	252,215
Prepayments and other current assets	1,136,769	1,671,750
Advance for investment	1,902,004	1,732,775
Other receivables	34,815	33,059
Total current assets	24,530,478	27,523,924
Non-current assets
Long-term investment	14,296,824	14,956,443
Goodwill	4,306,579	4,581,112
Property and equipment, net	81,315	10,699,010
Intangible assets, net	254,646	15,332,396
Operating Right-of-use asset, net	172,796
Total non-current assets	19,112,160	45,568,961
TOTAL ASSETS	43,642,638	73,092,885
Current liabilities
Accounts payable	21,894	77,266
Taxes payable	258,383	127,645
Amounts due to a related party	54,588	46,649
Accrued expenses	1,058,703	861,550
Deferred revenue-current	1,357,236	6,864,731
Operating Lease Liability-current	224,822
Deferred tax liabilities	28,241	38,744
Total current liabilities	3,003,867	8,016,585
Non-current liabilities
Long-term loans	13,681,099	14,809,302
Deferred revenue-noncurrent	3,430	3,713
Total non-current liabilities	13,684,529	14,813,015
TOTAL LIABILITIES	16,688,396	22,829,600
COMMITMENTS AND CONTINGENCIES
SHAREHOLDERS' EQUITY:
Ordinary shares, par value $0.0002 per share, 500,000,000 shares authorized; 14,900,000 shares issued and outstanding as of March 31, 2023 and 2022	2,980	2,980
Additional paid-in capital	19,055,407	18,055,407
Statutory reserve	745,590	745,590
Accumulated profits	8,111,900	29,018,885
Accumulated other comprehensive (loss)/income	(961,635)	2,440,423
TOTAL SHAREHOLDERS' EQUITY	26,954,242	50,263,285
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 43,642,638	$ 73,092,885

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Mar. 31, 2022	Sep. 01, 2021	May 29, 2020	Apr. 22, 2020
CONSOLIDATED BALANCE SHEETS
Ordinary shares, par value	$ 0.0002	$ 0.0002			$ 0.00015
Ordinary shares, shares authorized	500,000,000	500,000,000		500,000,000	500,000,000
Ordinary shares, shares issued	14,900,000	14,900,000
Ordinary shares, shares outstanding	14,900,000	14,900,000	14,900,000	9,000,000	12,000,000

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
Revenue	$ 11,323,744	$ 23,050,619	$ 29,168,546
Cost of revenue	(27,300,890)	(17,673,199)	(14,712,411)
Gross (loss) / profit	(15,977,146)	5,377,420	14,456,135
Operating expenses:
Selling and marketing expenses	(464,209)	(1,794,510)	(1,807,132)
General and administrative expenses	(3,659,533)	(4,144,301)	(3,654,449)
Total operating expenses	(4,123,742)	(5,938,811)	(5,461,581)
(Loss) / Income from operations	(20,100,888)	(561,391)	8,994,554
Interest income	70,909	66,251	58,946
Interest expense	(819,219)	(217,041)
Investment loss, net	724,428	(166,334)	(2,436,809)
Foreign currency exchange loss	(198,808)	(96,131)
Government grant	272	1,157	369,170
Impairment loss	(306,595)
Other income (expenses), net	145,828	181,817	(8,553)
(Loss) / Income before income taxes	(20,484,073)	(791,672)	6,977,308
Income tax expense	(422,912)	(608,620)	(3,479,303)
Net (Loss) / profit	(20,906,985)	(1,400,292)	3,498,005
Other comprehensive (loss):) / income:
Foreign currency translation adjustment	(3,402,058)	1,458,405	2,388,306
Total comprehensive (loss) / income	$ (24,309,043)	$ 58,113	$ 5,886,311
Net (loss) / earnings per ordinary share, basic	$ (1.40)	$ (0.10)	$ 0.32
Net (loss) / earnings per ordinary share, diluted	$ (1.40)	$ (0.10)	$ 0.32
Weighted average number of ordinary shares, basic	14,900,000	13,691,667	11,030,137
Weighted average number of ordinary shares, diluted	14,942,150	13,691,667	11,030,137

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Common stock	Additional paid-in capital	Statutory reserve	Accumulated profits (loss)	Accumulated other comprehensive Income (loss)	Total
Balance at the beginning at Mar. 31, 2021	$ 2,400	$ 13,415,987	$ 745,590	$ 30,419,177	$ 982,018	$ 45,565,172
Balance at the beginning (in shares) at Mar. 31, 2021	12,000,000
Increase (Decrease) in Stockholders' Equity
Net loss for the year				(1,400,292)		(1,400,292)
Foreign currency translation adjustment					1,458,405	1,458,405
Issuance of ordinary shares as part of the acquisition	$ 580	4,639,420				4,640,000
Issuance of ordinary shares as part of the acquisition (in shares)	2,900,000
Balance at the end at Mar. 31, 2022	$ 2,980	18,055,407	745,590	29,018,885	2,440,423	50,263,285
Balance at the end (in shares) at Mar. 31, 2022	14,900,000
Increase (Decrease) in Stockholders' Equity
Net loss for the year				(20,906,985)		(20,906,985)
Mandatory conversion of convertible note		1,000,000				1,000,000
Foreign currency translation adjustment					(3,402,058)	(3,402,058)
Balance at the end at Mar. 31, 2023	$ 2,980	$ 19,055,407	$ 745,590	$ 8,111,900	$ (961,635)	$ 26,954,242
Balance at the end (in shares) at Mar. 31, 2023	14,900,000

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Cash Flows from Operating Activities:
Net income (loss)	$ (20,906,985)	$ (1,400,292)	$ 3,498,005
Adjustments to reconcile net profit to net cash provided by operating activities:
Depreciation of property and equipment	4,033,569	4,185,532	3,689,815
Amortization of intangible assets	5,833,439	7,771,842	6,651,329
Amortization of Operating Right of Use	138,272	0
Loss on disposals of property and equipment		54,512
Investment loss due to the redemption of financial assets held for trading			2,436,809
Loss on equity investment	(724,428)	166,334
Impairment loss related to intangible asset	8,051,199
Impairment loss related to long term investment	245,598
Impairment loss related to other receivable	60,998
Impairment loss related to fixed asset	5,749,384
Changes in operating assets and liabilities:
Accounts receivables	(205,889)	(168,235)	(5,195)
Prepayments and other current assets	471,622	316,019	(1,418,176)
Long-term prepayments and other non-current assets		28,406	68,629
Accounts payable	(55,372)	(36,441)	(135,379)
Amounts due to a related party	7,939	(210,388)	257,037
Deferred revenue	(5,507,495)	(4,954,504)	(5,017,679)
Other payables	213,846	(542,340)	824,404
Interest payable		217,041
Taxes payable	130,738	(637,297)	(95,115)
Operating Lease Liabilities	(86,624)
Deferred tax liabilities	(8,249)	38,744
Net cash (used in) generated from operating activities	(2,558,438)	4,828,933	10,754,484
Cash flows from investing activities
Proceed from redemption of financial assets held for trading		5,563,030
Investment in long-term investments		(15,117,687)
Purchase of property and equipment		(512,797)	(5,091,647)
Purchase of intangible assets		(1,850,484)	(7,773,051)
Investment in financial assets held for trading			(8,000,000)
Advance for investment	(300,631)	(1,732,775)
Proceed from disposal of property and equipment and intangible assets		4,681
Cash acquired from business combination		50,427
Net cash used in investing activities	(300,631)	(13,595,605)	(20,864,698)
Cash flows from financing activities
Proceeds from convertible bond	1,000,000
Proceeds from IPO net off IPO expenses			13,243,554
Proceeds from long-term borrowings		14,809,302
Net cash generated from financing activities	1,000,000	14,809,302	13,243,554
Effects of foreign currency translation	(976,270)	338,135	2,388,306
Net increase in cash and cash equivalents	(2,835,339)	6,380,765	5,521,646
Cash and cash equivalents at beginning of year	23,834,125	17,453,360	11,931,714
Cash and cash equivalents at end of year	20,998,786	23,834,125	17,453,360
Supplemental disclosures of cash flow information:
Cash paid for income taxes		1,231,826	3,612,851
Cash paid for interest expense	$ 819,219
Non-cash transactions
Shares issued as consideration for acquisition		$ 4,640,000
Redemption of fund in transit			$ 5,563,191

Organization and basis of finan

Organization and basis of financial statements	12 Months Ended
	Mar. 31, 2023
Organization and basis of financial statements
Organization and basis of financial statements	1. Organization and basis of financial statements Skillful Craftsman Education Technology Limited (“the Company” or “the Group”) is an exempted company incorporated under the laws of Cayman Islands on June 14, 2019. The Company through its consolidated subsidiaries and variable interest entity (the “VIE”) (collectively, the “Group”) are principally engaged in the operation of vocational online education and technology services in the People’s Republic of China (the “PRC”). Due to the PRC legal restrictions on foreign ownership and investment in the education business, the Company conducts its primary business operations through its VIEs. In preparation of its initial public offering in the United States, the Company completed a reorganization in 2019 whereby the Company became the ultimate parent entity of its subsidiaries and consolidated VIE s. As part of the reorganization, the business operations of the consolidated subsidiaries and VIEs were transferred to the Company. In return, the Company issued 7,740,000 ordinary shares and 1,800,000 ordinary shares to Mr. Gao Xiaofeng and Mr. Hua Lugang (“the Founders”), respectively (“the Reorganization”). On September 1, 2021, the Company acquired 100% of Shenzhen Jisen Information Tech Limited (“Jisen Information”) for a consideration of 2,900,000 newly issued ordinary shares, valued at $1.60 per share. On June 6, 2022, Wangdao transferred the 100% ownership of Jisen Information to Wofe. On March 30, 2023, the Company established a 75% owned subsidiary in Singapore, Le First Skillland Pte. Ltd, to facilitate the Company’s global business development of vocational education and will make a capital contribution of $282,463 (S$375,000) to Le First Skillland in August 2023. As of the end of March 31, 2023, this company had no operations. As the Company, its subsidiaries and VIEs are all under the control of the Founders, the Reorganization was accounted for as a transaction under common control in a manner similar to a pooling of interests. Therefore, the accompanying consolidated financial statements have been prepared as if the corporate structure of the Company had been in existence since the beginning of the periods presented. Furthermore, ordinary shares were recorded on their issuance dates and presented on a retroactive basis. Details of the Company’s consolidated subsidiaries and the VIEs were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Percentage ​ ​ ​ ​ ​ ​ ​ of direct or ​ ​ ​ ​ ​ ​ ​ ​ indirect ​ ​ ​ ​ ​ ​ ​ ​ ownership ​ ​ ​ ​ Date of ​ Place of ​ by the ​ Principal Name of Entity ​ incorporation ​ incorporation ​ Company ​ activities Subsidiaries: Direct Easy Skills Technology Limited (“Hong Kong ES”) December 24, 2018 HK 100 % Holding company Skillful Craftsman Network Technology (Wuxi) Co., Ltd. (“WOFE” or “Craftsman Wuxi”) January 16, 2019 PRC 100 % Investment holding Shenzhen Jisen Information Tech Limited (“Jisen Information”) ​ December 8, 2014 PRC 100 % Financial education and services LE FIRST SKILLAND PTE. LTD. (“LFS”) ​ March 30, 2023 Singapore 75 % Vocational education ​ ​ ​ ​ ​ ​ ​ ​ ​ VIE: ​ Indirect Wuxi Kingway Technology Co., Ltd. (“Wuxi Wangdao”) ​ June 6, 2013 PRC 100 % Vocational online education and technology services ​ The Company established Hong Kong ES in December 2018 as its intermediary holding company. In January 2019, as part of the Reorganization described above, Hong Kong ES established WOFE in PRC and held all of the equity interest in the WOFE. In July 2019, WOFE entered into a series of contractual arrangements with the VIEs and their shareholders as described below. Contractual Arrangements PRC laws and regulations stipulate that the foreign investment in China is restricted with regards to the provision of value-added telecommunication services and internet audio-visual program services. The operation of such businesses requires that the company holds the ICP license (Internet Content Provider), which shall only be held by domestic companies. The Group’s offshore holding company is not a domestic company under PRC laws, thus is not qualified to hold an ICP license. Accordingly, the Group’s offshore holding companies are not allowed to directly engage in the vocational online education and technology services business in China. To comply with PRC laws and regulations, the Group conducts all of its business in China through the VIEs. Despite the lack of technical majority ownership, the Company has effective control of the VIEs through a series of contractual arrangements (the “Contractual Agreements”) and a quasi-parent-subsidiary relationship exists between the Company and the VIEs. The equity interests of the VIEs are legally held by PRC individuals (the “Nominee Shareholders”). Through the Contractual Agreements, the Nominee Shareholders of the VIEs effectively assign all their voting rights underlying their equity interests in the VIEs to the WOFE, and therefore, the WOFE has the power to direct the activities of the VIEs that most significantly impact its economic performance. The WOFE also has the right to receive economic benefits and obligations to absorb losses from the VIEs that potentially could be significant to the VIEs. Based on the above, the Company consolidates the VIEs through its subsidiary in accordance with SEC Regulation SX-3A-02 and ASC810-10, Consolidation: Overall. The following is a summary of the contractual agreements: Exclusive Business Cooperation Agreements Under the Exclusive Business Cooperation Agreements between WOFE and Wuxi Wangdao, dated July 17, 2019, WOFE has the exclusive right to provide Wuxi Wangdao with business support, technical support and consulting services related to its business operations in return for certain fees. Without WOFE’s prior written consent, Wuxi Wangdao may not accept any services subject to these agreements from any third party. The parties shall determine the service fees to be charged to Wuxi Wangdao under these agreements by considering, among other things, the complexity of the services, the time that may be spent for providing such services and the commercial value and specific content of the service provided. WOFE owns the intellectual property rights developed by either WOFE or Wuxi Wangdao in the performance of these agreements. These agreements became effective upon execution and will remain effective until terminated by WOFE. Equity Interest Pledge Agreements Under the Equity Interest Pledge Agreement, each of the shareholders pledged all of their equity interest in Wuxi Wangdao to WOFE so as to secure their obligations under the Equity Interest Pledge Agreement, the Exclusive Business Cooperation Agreement and the Authorization Agreement. If the shareholders of Wuxi Wangdao breach their respective contractual obligations, WOFE, as pledgee, will be entitled to certain rights, including the right to dispose the pledged equity interest. Pursuant to the agreement, the shareholders of Wuxi Wangdao shall not transfer, assign or otherwise create any new encumbrance on their respective equity interest in Wuxi Wangdao without prior written consent of WOFE. The equity pledge right held by WOFE will be terminated upon the fulfillment of all contract obligations and the full payment of all secured indebtedness by the Nominee Shareholders and Wuxi Wangdao. Exclusive Purchasing Right Agreement Under the Exclusive Purchasing Right Agreement among WOFE, Wuxi Wangdao, and its Nominee Shareholders, dated July 17, 2019, the Nominee Shareholders irrevocably granted WOFE or any third party designated by WOFE an exclusive purchasing right to purchase all or part of their equity interests in Wuxi Wangdao; provided that if the lowest price is permitted by applicable PRC laws, then that price shall apply. The Nominee Shareholders further agreed that they will neither create any pledge or encumbrance on their equity interests in Wuxi Wangdao, nor transfer, gift nor otherwise dispose of its equity interests in Wuxi Wangdao to any person other than WOFE or its designated third party. The Nominee Shareholders and Wuxi Wangdao agreed that they will operate the businesses in the ordinary course and maintain the asset value of Wuxi Wangdao and refrain from any actions or omissions that may affect their operating status and asset value. Furthermore, without WOFE’s prior written consent, the shareholders and Wuxi Wangdao agreed not to, among other things: amend the articles of association of Wuxi Wangdao; increase or decrease the registered capital of Wuxi Wangdao; sell, transfer, mortgage or dispose of in any manner any assets of Wuxi Wangdao or legal or beneficial interest in the business or revenues of Wuxi Wangdao; enter into any major contracts, except for contracts in the ordinary course of business (a contract with a price exceeding 100,000 shall be deemed a major contract); merge, consolidate with, acquire or invest in any person, or provide any loans; or distribute dividends. Authorization Agreement Under the Authorization Agreement, the Nominee Shareholders of Wuxi Wangdao authorized WOFE to act on their behalf as their exclusive agent and attorney with respect to all rights as shareholder, including but not limited to: (a) attending shareholders’ meetings; (b) exercising all the shareholder’s rights, including voting, that shareholders are entitled to under the laws of China and the Articles of Association of Wuxi Wangdao, including but not limited to the sale or transfer or pledge or disposition of shares held by the shareholders of Wuxi Wangdao in part or in whole; and (c) designating and appointing the legal representative, the executive director, supervisor, the chief executive officer and other senior management members of Wuxi Wangdao on behalf of the shareholders of Wuxi Wangdao. Letter of Consent Pursuant to the Letter of Consent executed by the spouses of the Nominee Shareholders of the VIEs, the signing spouses unconditionally and irrevocably agreed that the equity interest in the VIEs held by and registered in the name of their spouses, the Nominee Shareholders of Wuxi Wangdao, be disposed of in accordance with the Exclusive Purchasing Right Agreement, the equity interest pledge agreement and the authorization agreement described above, and that their spouses may perform, amend or terminate such agreements without their additional consent. Additionally, the signing spouses agreed not to assert any rights over the equity interest in the VIEs held by their spouses. In addition, in the event that the signing spouses obtains any equity interest in the VIEs held by their spouses for any reason, they agree to be bound by and sign any legal documents substantially similar to the contractual arrangements described above, as may be amended from time to time. Risks in Relation to the VIE Structure Based on the opinion of the Company’s PRC legal counsel, (i) the ownership structure of the Group, including its subsidiaries in the PRC and VIEs are not in violation with any applicable PRC laws and regulations; and (ii) each of the Contractual Agreements among the WOFE, the VIEs and the Nominee Shareholders governed by PRC laws, are legal, valid and binding, enforceable against such parties. However, uncertainties in the PRC legal system could cause the relevant regulatory authorities to find the current Contractual Agreements and businesses to be in violation of any existing or future PRC laws or regulations. If the Company, the WOFE or any of its current or future VIEs are found in violation of any existing or future laws or regulations, or fail to obtain or maintain any of the required permits or approvals, the relevant PRC regulatory authorities would have broad discretion in dealing with such violations, which may include, but not limited to, revocation of business and operating licenses, being required to discontinue or restrict its business operations, restriction of the Group’s right to collect revenues, being required to restructure its operations, imposition of additional conditions or requirements with which the Group may not be able to comply, or other regulatory or enforcement actions against the Group that could be harmful to its business. The imposition of any of these or other penalties may result in a material and adverse effect on the Group’s ability to conduct its business. In addition, if the imposition of any of these penalties causes the Company to lose the rights to direct the activities of the VIEs or the right to receive their economic benefits, the Company would no longer be able to consolidate the VIEs. The Group’s business has been directly operated by the VIEs. For the years ended March 31, 2023 and 2022, the VIEs contributed 91% and 100% of the Group’s consolidated revenues, respectively. As of March 31, 2023 and 2022, the VIEs accounted for an aggregate of 82% and 86%, respectively, of the consolidated total assets, and 92% and 90%, respectively, of the consolidated total liabilities. The following financial statement balances and amounts of the Company’s VIEs were included in the accompanying consolidated financial statements: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 ASSETS ​ ​ Current assets: ​ ​ Cash and cash equivalents ​ $ 19,142,721 ​ $ 20,651,502 Accounts receivable, net ​ 8,572 ​ 252,215 Prepayments and other current assets ​ 129,148 ​ 466,846 Deferred expenses ​ 939,252 ​ 1,101,761 Amounts due from related parties ​ 958,634 ​ 1,589,182 Total current assets ​ 21,178,327 ​ 24,061,506 Non-current assets: ​ ​ Long-term investment ​ 14,296,824 ​ 14,673,898 Goodwill ​ — ​ 4,581,112 Property and equipment, net ​ 6,620 ​ 10,597,581 Intangible assets, net ​ — ​ 15,143,366 Total non-current assets ​ 14,303,444 ​ 44,995,957 TOTAL ASSETS ​ $ 35,481,771 ​ $ 69,057,463 Current liabilities: ​ ​ Accounts payable ​ $ 21,894 ​ $ 77,266 Taxes payable ​ 8,488 ​ 127,645 Employee benefits payable ​ 33,456 ​ 96,838 Deferred revenue-current ​ 1,357,236 ​ 6,864,731 Other payables ​ 104,738 ​ 5,104,380 Interest payable ​ 202,405 ​ — Related party payables ​ ​ ​ 44,107 Deferred tax liabilities ​ — ​ 38,744 Total current liabilities: ​ 1,728,217 ​ 12,353,711 Non-current liabilities: ​ ​ Long-term loans ​ 13,681,099 ​ 14,809,302 Deferred revenue-noncurrent ​ — ​ 3,713 Total non-current liabilities ​ 13,681,099 ​ 14,813,015 TOTAL LIABILITIES ​ $ 15,409,316 ​ $ 27,166,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ ​ 2023 ​ 2022 ​ 2021 Revenue $ 10,250,708 $ 23,050,619 $ 29,168,546 Net profit ​ $ (18,310,962) ​ $ 1,750,836 ​ $ 8,436,207 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ ​ 2023 ​ 2022 ​ 2021 Net cash provided by operating activities $ 148,162 $ 9,390,282 $ 13,927,170 Net cash used in investing activities ​ (529,511) ​ (18,530,989) ​ (12,864,697) Net cash provided by financing activities ​ — ​ 14,809,302 ​ — Effects of exchange rate changes on cash ​ (1,127,433) ​ 266,364 ​ 1,722,356 Net cash inflow ​ $ (1,508,782) ​ $ 5,934,959 ​ $ 2,784,829 ​ There are no consolidated VIEs’ assets that are pledged or collateralized for the VIEs’ obligations and which can only be used to settle the VIEs’ obligations, except for registered capital and the PRC statutory reserves. Relevant PRC laws and regulations restrict the VIE from transferring a portion of their net assets, equivalent to the balance of their statutory reserves and its share capital, to the Company in the form of loans and advances or cash dividends. As the VIEs are incorporated as a limited liability company under the PRC Company Law, creditors of the VIEs do not have recourse to the general credit of the Company for any of the liabilities of the VIEs. There were no other pledges or collateralization of the VIEs’ assets.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies a) Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“US GAAP”). b) Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries and the VIEs. All significant inter-company transactions and balances between the Company, its subsidiaries and the VIEs have been eliminated upon consolidation. c) Use of estimates In preparing the consolidated financial statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant estimates required to be made by management include, but are not limited to, the valuation of accounts receivable, prepayments, and other receivables, useful lives of property and equipment and intangible assets, the recoverability of long-lived assets and provision necessary for contingent liabilities. Actual results could differ from those estimates. d) Business combination Business combinations are recorded using the acquisition method of accounting. The assets acquired, the liabilities assumed, and any non-controlling interests of the acquiree at the acquisition date, if any, are measured at their fair values as of the acquisition date. Goodwill is recognized and measured as the excess of the total consideration transferred plus the fair value of any non-controlling interest of the acquiree and fair value of previously held equity interest in the acquiree, if any, at the acquisition date over the fair values of the identifiable net assets acquired. Common forms of the consideration made in acquisitions include cash and common equity instruments. Consideration transferred in a business acquisition is measured at the fair value as of the date of acquisition. Acquisition-related expenses and restructuring costs are expensed as incurred. ASC 805 establishes a measurement period to provide the Company with a reasonable amount of time to obtain the information necessary to identify and measure various items in a business combination and cannot extend beyond one year from the acquisition date. Where the consideration in an acquisition includes contingent consideration the payment of which depends on the achievement of certain specified conditions post-acquisition, the contingent consideration is recognized and measured at its fair value at the acquisition date and is recorded as a liability, it is subsequently remeasured at fair value at each reporting date with changes in fair value reflected in earnings. e) Cash and cash equivalents Cash and cash equivalents include cash on hand, cash accounts, interest bearing savings accounts. The Group considers all highly liquid investment instruments with an original maturity of three months or less from the date of purchase to be cash equivalents. The Group maintains most of the bank accounts in the PRC. Cash balances in bank accounts in PRC are not insured by any programs. f) Accounts receivable, net Accounts receivable are recognized and carried at original invoiced amount less an estimated allowance for uncollectible accounts. The Group usually determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collection trends. The Group establishes a provision for doubtful receivables when there is objective evidence that the Group may not be able to collect amounts due. The allowance is based on management’s best estimates of specific losses on individual exposures, as well as a provision on historical trends of collections. Based on management of customers’ credit and ongoing relationship, management makes conclusions whether any balances outstanding at the end of the period will be deemed uncollectible on an individual basis and on aging analysis basis. The provision is recorded against accounts receivables balances, with a corresponding charge recorded in the consolidated statements of income and comprehensive income. Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. Accounts receivable are recognized and carried at original invoiced amount less an estimated allowance for uncollectible accounts. The Group usually determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collection trends. The Group establishes a provision for doubtful receivables when there is objective evidence that the Group may not be able to collect amounts due. The allowance is based on management’s best estimates of specific losses on individual exposures, as well as a provision on historical trends of collections. Based on management of customers’ credit and ongoing relationship, management makes conclusions whether any balances outstanding at the end of the period will be deemed uncollectible on an individual basis and on aging analysis basis. The provision is recorded against accounts receivables balances, with a corresponding charge recorded in the consolidated statements of income and comprehensive income. Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. The Group considers there is no allowance for doubtful accounts for the years ended March 31, 2023 and 2022. g) Long-term investment Long-term investments represent the Group’s investment in privately held company. The Group applies the equity method of accounting to account for an equity investment, in common stock or in-substance common stock, according to ASC Topic 323, Investment—Equity Method and Joint Ventures (“ASC 323”), over which it has significant influence but does not own a majority equity interest or otherwise control. Under the equity method, the Group’s share of the post-acquisition profits or losses of the equity investees are recorded in share of results of equity investees in the consolidated statements of operations and comprehensive income/(loss) and its share of post-acquisition movements of accumulated other comprehensive income/(loss) are recorded in accumulated other comprehensive income/(loss) as a component of shareholders’equity. The Group records its share of the results of equity investments on one quarter in arrears basis. The excess of the carrying amount of the investment over the underlying equity in net assets of the equity investee represents goodwill and intangible assets acquired. When the Group’s share of losses in the equity investee equals or exceeds its interest in the equity investee, the Group does not recognize further losses, unless the Group has incurred obligations or made payments or guarantees on behalf of the equity investee, or the Group holds other investments in the equity investee. h) Property and equipment, net Property and equipment are recorded at cost including the cost of improvements and stated at cost less accumulated depreciation. Maintenance and repairs are charged to expense as incurred. Depreciation and amortization are provided on the straight-line method based on the estimated useful lives of the assets as follows: ​ ​ ​ ​ Server hardware 5 years Vehicles 5 years ​ Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterment which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of operations and comprehensive income in other income or expenses. Direct costs that are related to the construction of property and equipment and incurred in connection with bringing the assets to their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property and equipment, and the depreciation of these assets commences when the assets are ready for their intended use. i) Intangible assets, net Intangible assets with definite lives are carried at cost less accumulated amortization. Amortization of definite-lived intangible assets is computed using the straight-line method over the estimated average useful lives, which are as follows: ​ ​ ​ ​ Acquired software 5 years Purchased courseware 5 years Copyrights 5 years ​ j) Lease Leases are classified at lease commencement date as either a finance lease or an operating lease. A lease is a finance lease if it meets any of the following criteria: (a) the lease transfers ownership of the underlying asset to the lessee by the end of the lease term. (b) the lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise, (c) the lease term is for the major part of the remaining economic life of the underlying asset, (d) the present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all of the fair value of the underlying asset or (e) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. When none of the foregoing criteria is met, the lease shall be classified as an operating lease. For a lessee, a lease is recognized as a right-of-use asset with a corresponding liability at lease commencement date. The lease liability is calculated at the present value of the lease payments not yet paid by using the lease term and discount rate determined at lease commencement. The right-of-use asset is calculated as the lease liability, increased by any initial direct costs and prepaid lease payments, reduced by any lease incentives received before lease commencement. The right-of-use asset itself is amortized on a straight-line basis unless another systematic method better reflects how the underlying asset will be used by and benefits the lessee over the lease term. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842). The amendments in this ASU require an entity to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. The Company adopted ASC 842, effective as of the beginning of the first period presented, by using a modified retrospective transition approach in the accompanying financial statements of the Company. The adoption of this standard had an immaterial impact on the Company’s financial position, with no material impact on the results of operations and cash flows. The Company’s accounting policy is to recognize lease payments as rental expense for short-term leases less than 12 months. During the fiscal years ended March 31, 2023 and 2022, the Company’s recognized rental expenses amounted $88,472 and $90,748, respectively, pertaining to short-term leases. During the fiscal years ended March 31, 2023, the Company has entered into a long term lease agreement more than 12 months and the Company’s recognized lease expenses amounted $146,597, pertaining to long-term leases and the lease would be mature in 12 months, so we reclassify it into the short-term right-of-use asset. k ) Impairment of long-lived assets The Group evaluates its long-lived assets with finite lives for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset may not be fully recoverable. When these events occur, the Group evaluates the impairment by comparing carrying amount of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the assets, the Group recognizes an impairment loss based on the excess of the carrying amount of the long-lived assets over their fair value. l) Convertible Bonds Per the ASU 2020-06, it simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. A debt with an embedded conversion feature shall be accounted for in its entirety as a liability and no portion of the proceeds from the issuance of the convertible debt instrument shall be accounted for as attributable to the conversion feature. Convertible bond will be accounted for as a single liability measured at its amortized cost. m) Fair value of financial instruments The fair value of a financial instrument is defined as the exchange price that would be received from an asset or paid to transfer a liability (as exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, time deposits, accounts receivable, prepaid expenses and other current assets, accounts payable, and other current liabilities, approximate their fair values because of the short maturity of these instruments and market rates of interest. ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 - Quoted prices in active markets for identical assets and liabilities. ● Level 2 - Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Group considers the carrying amount of its financial assets and liabilities, which consist primarily of cash and cash equivalents, accounts receivable, advance for investment, prepayment and other current asset, other receivables, related party receivable, accounts payable, other payable and related party payable approximate the fair value of the respective assets and liabilities as of March 31, 2023 and 2022 owing to their short-term nature or present value of the assets and liabilities. n) Revenue recognition The Group has adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) effective as of April 1, 2018. The Group has chosen to use the full retrospective transition method, under which it is required to revise its consolidated financial statements for the year ended March 31, 2017, as if ASC 606 had been effective for those periods. Under ASC 606, the Group recognizes revenue when a customer obtains control of promised goods, in an amount that reflects the consideration which the Group expects to receive in exchange for the goods. To determine revenue recognition for arrangements within the scope of ASC 606, the Group performs the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when or as the entity satisfies a performance obligation. The Group applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to the customer. The Group’s revenue is principally derived from the rendering of education services as principal to the online VIP and SVIP members (“members”) through an online education platform. The online education services are currently comprised of two aspects: online vocational training and virtual simulation experimental training. Students that sign up for the online vocational training can log into the platform and access pre-recorded courses in the areas of their professional development. Virtual simulation technology training offers college students the opportunity to conduct experiments in a virtual environment as part of their curricula. For VIP members who have access to all platforms except virtual simulation experimental training, the Group charges a flat annual fee per member. For SVIP members who have access to all platforms including virtual simulation experimental training, the Group charges a flat fee per member per quarter. Consistent with the criteria of ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"), the Group recognizes revenues when the Group satisfies a performance obligation by transferring a promised service to a customer. In accordance with ASC 606, the Group evaluates whether it is appropriate to record the gross amount of education services and related costs or the net amount earned as revenue. As the Group obtains control of the specified SVIP and VIP education services before they are transferred to the customers, thus the revenues should be recognized in the gross amount of consideration to which it expects to be entitled in exchange for the specified SVIP and VIP services transferred. The membership services mainly provide access to online education services, which are accounted for as a single performance obligation as the membership services are highly integrated. These service fees are collected in lump-sum for a specific contracted service period when the service contract is signed and the revenues are recognized proportionally over the service period, as the Group concluded that the membership service represents a stand ready obligation to provide the services while the member simultaneously receives and consumes the benefits of such services throughout the contract period. Deferred revenue refers to the remaining unamortized amount of membership fee that online members paid in advance. The Group also generates revenue from technology services including software development as well as comprehensive cloud services for private companies, academic institutions and government agencies in PRC, which is recognized proportionally over the service period. As the Group was obliged to perform the services and the transaction prices were determined by the Group and customers, the Group recognized the revenue as a principal. o) Cost of revenue Cost of revenue is mainly composed of a copyright fee and related expenses for courseware and content development, website maintenance and information technology technicians and other employees, depreciation and amortization expenses, server management and bandwidth service fees paid to third-party providers and other miscellaneous expenses. p) Allowance for doubtful accounts Accounts receivable are recorded at original invoiced amount less an estimated allowance for uncollectible accounts. The management determines the adequacy of allowance for doubtful accounts based on individual account analysis and historical collection situation. When the management believes an allowance is necessary, the allowance is provided against accounts receivable balances, with a corresponding charge recorded in the statement of income. Delinquent account balances are written-off against the allowance for doubtful accounts when the collection is not probable. The Group considers there is no allowance for doubtful accounts for years ended March 31, 2023 and 2022. q) Employee benefit expenses All eligible employees of the Group are entitled to staff welfare benefits including medical care, welfare subsidies, unemployment insurance, pension benefits and housing funds through a PRC government-mandated multi-employer defined contribution plan. The Group is required to make contributions to the plan and accrues for these benefits based on certain percentages of the qualified employees’ salaries. The Group recorded employee benefit expenses $104,283 and $92,264 of for the years ended March 31, 2023 and 2022, respectively. r) Selling and marketing expenses Selling and marketing are expensed as incurred in accordance with ASC 720-35. Among these, marketing and promotion costs were $216,423 and $699,307 for years ended March 31, 2023 and 2022, respectively. s) Research and development costs Research and development expenses consist of compensations and benefit expenses to the technology development personnel. Research and development expenses are primarily incurred in the development of new features and general improvement of the technology infrastructure to support its business operations. Research and development costs are expensed as incurred unless such costs qualify for capitalization as software development costs. In order to qualify for capitalization, (i) the preliminary project should be completed, (ii) management has committed to funding the project and it is probable that the project will be completed and the software will be used to perform the function intended, and (iii) it will result in significant additional functionality in the Group’s services. No research and development costs were capitalized for all years presented as the Group has not met all of the necessary capitalization requirements. t) Income taxes The Group follows the liability method of accounting for income taxes in accordance with ASC 740 (“ASC 740”), Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Group records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rate is recognized in tax expense in the period that includes the enactment date of the change in tax rate. The Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties related to unrecognized tax benefit recognized in accordance with ASC 740 are classified in the consolidated statements of income as income tax expense. ​ Uncertain tax positions The guidance on accounting for uncertainties in income taxes prescribes a more likely than not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Guidance also applies to the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group's uncertain tax positions and determining its provision for income taxes. The Group recognizes interest and penalties, if any, under accrued expenses and other current liabilities on its balance sheet and under other expenses in its consolidated statement of operations. There were no interest and penalties associated with uncertain tax positions for the years ended March 31, 2023 and 2022. As of March 31, 2023 and 2022, the Group did not have any significant unrecognized uncertain tax positions. u) Value added tax (“VAT”) The Group is subject to VAT and related surcharges on revenue generated from the rendering of education services to the members through online education platform. The Group records revenue net of output VAT. This output VAT may be offset by qualified input VAT paid by the Group to suppliers. Net VAT balance between input VAT and output VAT is recorded in the line item of tax payable on the consolidated balance sheets. The Group is subject to VAT at the rate of 6% depending on whether the entity is a general tax payer, and related surcharges on revenue generated from providing services. Entities that are VAT general taxpayers are allowed to offset qualified input VAT, paid to suppliers against their output VAT liabilities. v) Ordinary Shares The Company accounts for repurchased ordinary shares under the cost method and include such treasury shares as a component of the common shareholders’ equity. Cancellation of treasury shares is recorded as a reduction of ordinary shares, additional paid-in capital and retained earnings, as applicable. An excess of purchase price over par value is allocated to additional paid-in capital first with any remaining excess charged entirely to retained earnings. w) Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation. x) Statutory reserves The Company’s PRC subsidiaries are required to make appropriations to certain non-distributable reserve funds. In accordance with China’s Company Laws, the Company’s PRC subsidiary that are Chinese companies, must make appropriations from their after-tax profit (as determined under the Accounting Standards for Business Enterprises as promulgated by the Ministry of Finance of the People’s Republic of China (“PRC GAAP”)) to non-distributable reserve funds including (i) statutory surplus fund and (ii) discretionary surplus fund. The appropriation to the statutory surplus fund must be at least 10% of the after-tax profits calculated in accordance with PRC GAAP. Appropriation is not required if the statutory surplus fund has reached 50% of the registered capital of the respective company. Appropriation to the discretionary surplus fund is made at the discretion of the respective company. ​ Pursuant to the laws applicable to China’s Foreign Investment Enterprises, the Company’s subsidiaries that are foreign investment enterprises in China have to make appropriations from their after-tax profit (as determined under PRC GAAP) to reserve funds including (i) general reserve fund, (ii) enterprise expansion fund and (iii) staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the after tax profits calculated in accordance with PRC GAAP. Appropriation is not required if the reserve fund has reached 50% of the registered capital of the respective company. Appropriations to the other two reserve funds are at the respective company’s discretion. The use of the general reserve fund, statutory surplus fund and discretionary surplus fund are restricted to the offsetting of losses to increase the registered capital of the respective company. These reserves are not allowed to be transferred out as cash dividends, loans or advances, nor can they be distributed except under liquidation. y) Earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as Net profit divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS. z) Foreign currency translation The Group’s principal country of operations is the PRC. The financial position and results of its operations are determined using RMB, the local currency, as the functional currency. The consolidated financial statements are reported using U.S. Dollars as the reporting currency. The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income (loss) included in consolidated statements of changes in equity. Gains and losses from foreign currency transactions are included in the consolidated statement of operations and comprehensive income. The value of RMB against U.S. Dollar may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. Any significant revaluation of RMB may materially affect the Group’s consolidated financial condition in terms of reporting. The following table outlines the currency exchange rates that were used in the consolidated financial statements: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 March 31, 2022 March 31, 2021 Year-end spot rate US$1= 6.8717 RMB US$1= 6.3482 RMB US$1= 6.5712 RMB Average rate US$1= 6.8855 RMB US$1= 6.4083 RMB US$1= 6.7720 RMB ​ aa) Comprehensive income / (loss) Comprehensive income/(loss) is defined as the changes in shareholders’ equity during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Comprehensive income or loss is reported in the consolidated statements of comprehensive income/(loss). Accumulated other comprehensive income/(loss), as presented on the accompanying consolidated balance sheets, consists of accumulated foreign currency translation adjustments. ​ ab) Dividends Dividends are recognized when declared. No dividends were declared for the years ended March 31, 2023 and 2022, respectively. The Group does not have any present plan to pay any dividens on ordinary shares in the foreseeable future. The Group currently intends to retain the available funds and any future earnings to operate and expand the business. ac) Warrants According to the SPA, the Company issued a purchase right to the Investor under which the Company will issue predetermined ordinary shares for a fixed cash consideration at a future date (the “Warrants”). The Warrants were accounted for as equity instruments to the Company, since: i) The Warrants were indexed to the Company’s own stock, since: ● The Warrants will be exercised upon the ODI approval, which is not based on an observable market, or an observable index. ● The exercise price is fixed by the SPA and Supplement Agreement, and the number of Underlying Shares to be issued is also fixed divided by the fixed purchase price per share. ii

Business Combination

Business Combination	12 Months Ended
	Mar. 31, 2023
Business Combination
Business Combination	3. Business Combination On September 1, 2021, Wuxi Wangdao acquired 100% equity interest of Jisen Information, for a consideration of 2,900,000 newly issued ordinary shares from the Group. The ordinary shares were registered on September 1, 2021, valued at $1.60 per share. On June 6, 2022, Wangdao transferred the 100% ownership of Jisen Information to WOFE. The net revenue and net income of Jisen Information that were included in the Group’s consolidated statements of operations and comprehensive income/(loss) for year ended March 31, 2023 are $1,052,484 and $450,145, and $645,666 and $316,155 for year ended March 31, 2022 respectively. The Group engaged an independent valuation firm to assist management in valuing assets acquired, liabilities assumed and intangible assets identified as of the acquisition day. The identifiable intangible assets acquired upon acquisition were computer software copyrights, which have an estimated useful life of approximately 5 years. All other current assets and current liabilities carrying value approximated fair value at the time of acquisition. The fair value of the intangible assets identified was determined by adopting the Replacement Cost Method. The fair value of the consideration was based on closing market price of the Company’s common share on the acquisition date, which is a preliminary analysis and The Company performed the impairment test and found no impairment indicators. The allocation of the purchase price is as follows: ​ ​ ​ ​ ​ Amount ​ ​ USD Fair value of total consideration transferred: Equity instrument (2.9 million common shares issued) 4,640,000 Less: Cash acquired from business combination (50,427) Subtotal: 4,589,573 Recognized amounts of identifiable assets acquired and liability assumed: Current assets 17,152 Intangible asset - computer software copyrights 175,854 Current liabilities (140,581) Deferred tax liabilities (43,964) Total identifiable net assets 8,461 Goodwill* 4,581,112 * The goodwill generated from the expected synergies from the cooperation of promoting the national pilot project of Education Certificate and Several Vocational Skill Level Certificates. Jisen Information develops trading simulators, invests in cloud education curriculum system and customized data analysis platform. Jisen Information's cloud education technology architecture system provides important complement to Company’s existing technology platform. With Jisen Information’s research and develop ability, the Company expects to lower the cost in platform construction and maintenance. Also, Jisen Information has established cooperation with five Chinese colleges and universities such as Anhui Normal University, Anhui University of Engineering and Anhui Business College. The Company gained potential customer resources from the business acquisition. The goodwill is not deductible for tax purposes. The business combination accounting is complete for all assets and liabilities acquired on the acquisition date and we evaluate the asset values as of March 31, 2023 as provided in the guidance. Considering its fair value exceeds its carrying amount, and Jisen is making profit, thus there’s no indicators of impairment in the goodwill.

Cash and cash equivalents

Cash and cash equivalents	12 Months Ended
	Mar. 31, 2023
Cash and cash equivalents
Cash and cash equivalents	4 . Cash and cash equivalents Cash consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Cash on hand $ 396 $ 429 Bank balances ​ 20,998,172 ​ 23,833,460 Other monetary funds ​ 218 ​ 236 Total ​ $ 20,998,786 ​ $ 23,834,125 ​

Accounts receivable, net

Accounts receivable, net	12 Months Ended
	Mar. 31, 2023
Accounts receivable, net
Accounts receivable, net	5. Accounts receivable, net Accounts receivable, net consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Accounts receivable, gross $ 458,104 $ 252,215 Less: allowance for doubtful accounts ​ — ​ — Accounts receivable, net ​ $ 458,104 ​ $ 252,215 ​

Prepayments and other current a

Prepayments and other current assets	12 Months Ended
	Mar. 31, 2023
Prepayments and other current assets
Prepayments and other current assets	6. Prepayments and other current assets Prepayments and other current assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Prepaid service fees(1) $ 1,136,769 $ 1,309,069 Prepaid insurance fee ​ $ — ​ $ 44,519 Prepaid income tax expenses ​ — ​ 318,162 Total ​ $ 1,136,769 ​ $ 1,671,750 ​ (1) Prepaid service fees consist of prepayment of telecommunications service fee and resource usage fee to colleges and universities in order to access the online course resources of these institutions. The prepayments are generally short-term in nature and are amortized over the related service period.

Advance for investment

Advance for investment	12 Months Ended
	Mar. 31, 2023
Advance for investment
Advance for investment	7. Advance for investment Advance for investment consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Advance for investment(1) ​ 1,902,004 ​ 1,732,775 Total ​ $ 1,902,004 ​ $ 1,732,775 (1) Advance for investment: The Group made a down payment to the shareholder of Wuxi Talent Home Information Technology Co. Ltd., (“Wuxi Talent”) as a part of 60% share purchase and long-term investment. And on August 5, 2022, the Group issued 791,667 shares to the two shareholders of Wuxi Talent as a part of the acquisition consideration. As of the end of March 31, 2023, the control of Wuxi Talent was not transferred to the Company yet. Advance for investment consisted of cash deposit of $1,902,004 that the Company paid to the entity which the Company is seeking to acquire certain ownership (“Target Company”). The deposit was used as the acquisition deposit required by the Target Company in order to execute their respective acquisition memorandum which details the acquisition and valuation methods but is not legally binding. The fund deposited has no definite term, however the Company anticipates the actual acquisition will be completed within one year.The deposit would be used as initial payment and offset the total cash consideration of the deal. If the acquisition failed to be approved, the Target Company is obligated to return the deposit to the Company. As of March 31, 2023, the acquisition was not approved or disapproved as the acquisition was still in the process of undergoing legal and financial due diligence. In July 2023, two shareholders of Wuxi Talent agreed to return the 791,667 issued ordinary shares to the Company for cancellation, and such two shareholders will not transfer their equity interest in Wuxi Talent to WFOE while the paid cash consideration of $1,902,004 (RMB 13,070,000) will be used as investment in Wuxi Talent for 35% of all equity interest of Wuxi Talent by WFOE instead. Thus, the consideration of $1,902,004 paid is a deposit towards the future purchase.

Other receivables

Other receivables	12 Months Ended
	Mar. 31, 2023
Other receivables
Other receivables	8. Other receivables ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Others ​ ​ 95,935 ​ ​ 33,059 Impairment ​ ​ (61,120) ​ ​ — Total ​ $ 34,815 ​ $ 33,059 ​

Long-term investment

Long-term investment	12 Months Ended
	Mar. 31, 2023
Long-term investment
Long-term investment	9. Long-term investment Long-term investment consists of investment in privately held company. The following table sets forth the changes in the Group’s Long-term investment: ​ ​ ​ ​ ​ ​ ​ ​ ​ Investment-1 Investment-2 Total ​ ​ USD ​ USD ​ USD Balance as of March 31, 2022 282,545 14,673,898 14,956,443 Investments made — — — Share gain (loss) from equity investments (14,899) 739,327 724,428 Impairment ​ (246,092) ​ — ​ (246,092) Foreign currency translation adjustments (21,554) (1,116,401) (1,137,955) Balance as of March 31, 2023 — 14,296,824 14,296,824 ​ Investment-1: In August 2021, the Group entered an agreement with Fu Zhi Zhong He (Beijing) Health Technology Co., Ltd., Changsha Tangshi Yipai Medical Technology Co., Ltd., and Yaping Zhou to establish a joint venture of Hunan Medical Star Technology Co., Ltd. (“Medical Star”) in China to develop the learning platform of traditional Chinese medical science and cultivate a group of talents with integrated traditional Chinese and Western medicine knowledge. The Group invested in Medical Star through purchase of its ordinary shares, with a total cash consideration of $308,385 (RMB2,000,000) to obtain 20% shareholding interests. Medical Star has 7 directors on its board. According to the agreement, the Company has the right to appoint 3 directors on the board of Medical Star, thus it has 43% voting power in the investee and has a significant influence over the operating and financial policies of Medical Star. The Company incurred a loss of $14,899 from Medical Star for the year ended March 31, 2023, due to Medical Star had a net loss for the year ended March 31, 2023. Since the depression of the macroeconomy, the Company predicted that Medical Star would keep the status of loss and can’t seek any more financing for the next year. Thus, the company recognized the full impairment over Investment. Investment-2: In January 2022, the Group reached an agreement with China Agriculture Industry Development Foundation Co., Ltd., to purchase its 3% share of Fujian Pingtan Ocean Fishery Group Co., Ltd. (“Fujian Fishery”), with a total consideration of $14,809,302 (RMB94,012,410). Fujian Fishery has 5 directors on its board. According to the shareholders minute, the Company appointed 1 director to the board of Fujian Fishery, thus it has 20% voting power in the investee and has a significant influence over the operating and financial policies of Fujian Fishery. The Company incurred a gain of $739,327 from Fujian Fishery for the year ended March 31, 2023, due to Fujian Fisher had a net income for the year ended March 31, 2023. There’s no impairment indicator, thus the Company didn't recognize any impairment over Investment 2.

Goodwill

Goodwill	12 Months Ended
	Mar. 31, 2023
Goodwill
Goodwill	10. Goodwill Changes in the carrying amount of goodwill as of September 30, 2022 were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency Balance as of ​ ​ Balance as of ​ ​ ​ ​ ​ translation ​ March 31, ​ ​ March 31, 2022 ​ Additions ​ Impairment ​ adjustments ​ 2023 Jisen 4,581,112 — — (274,533) 4,306,579 Total 4,581,112 — — (274,533) 4,306,579 ​ As the end of March of 31, 2023 and 2022, the Group had no impairment.

Property and equipment, net

Property and equipment, net	12 Months Ended
	Mar. 31, 2023
Property and equipment, net
Property and equipment, net	11. Property and equipment, net Property and equipment consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Server hardware $ 20,050,414 $ 21,703,857 Vehicles ​ 211,946 ​ 229,424 ​ ​ 20,262,360 ​ 21,933,281 Less: accumulated depreciation ​ (14,420,101) ​ (11,234,271) Impairment ​ ​ (5,760,944) ​ ​ — Property and equipment, net ​ $ 81,315 ​ $ 10,699,010 ​ The impairment loss to property and equipment for the year ended March 31, 2023 and March 31, 2022 were $5,749,384 and $0, respectively. Addition to property and equipment for the year ended March 31, 2023 and March 31, 2022 were $0 and $775,594, respectively. Disposal of property and equipment for the year ended March 31, 2023 and March 31, 2022 were $0 and $59,754, respectively. Depreciation expenses were $4,033,569 and $4,185,532 for the years ended March 31, 2023 and 2022, respectively.

Intangible assets, net

Intangible assets, net	12 Months Ended
	Mar. 31, 2023
Intangible assets, net
Intangible assets, net	12. Intangible assets, net Intangible assets consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Software $ 5,610,547 $ 6,073,217 Courseware ​ 30,443,609 ​ 32,954,121 Copyrights ​ 12,266,906 ​ 13,275,393 ​ ​ 48,321,062 ​ 52,302,731 Less: accumulated amortization ​ (39,999,028) ​ (36,970,335) Less: impairment ​ ​ (8,067,388) ​ ​ — Intangible assets, net ​ $ 254,646 ​ $ 15,332,396 ​ During the years ended March 31, 2023 and 2022, the Group had no pledged intangible assets. Due to the significant deterioration in general economic conditions during the year ended March 31, 2023, the Company recognized the full impairment loss for the intangible assets related to vocational education, for a total amount of $8,051,199. And the impairment loss for the year ended March 31, 2022 was $0. Addition to intangible assets for the year ended March 31, 2023 and March 31, 2022 were $0 and $2,043,862, respectively. There was no disposal of intangible assets for the year ended March 31, 2023 and March 31, 2022. Amortization expenses were $5,833,439 and $7,771,842 for the years ended March 31, 2023 and 2022, respectively. The following is a schedule, by fiscal year, of amortization amounts of intangible asset as of March 31, 2023: ​ ​ ​ ​ ​ 2024 $ 72,602 2025 ​ 72,602 2026 ​ 72,602 2027 ​ 36,840 Total ​ $ 254,646 ​

Operating Right-of-use asset, n

Operating Right-of-use asset, net	12 Months Ended
	Mar. 31, 2023
Operating Right-of-use asset, net
Operating Right-of-use asset, net	13. Operating Right-of-use asset, net ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, Increase/ Exchange rate March 31, ​ ​ 2022 ​ (Decrease) ​ translation ​ 2023 Shenzhen Wan ​ $ — ​ $ 211,765 ​ $ — ​ $ 211,765 Longcheng Car ​ ​ — ​ ​ 99,580 ​ ​ — ​ ​ 99,580 Total right-of-use assets, at cost ​ — ​ 311,345 ​ — ​ 311,345 Less: accumulated amortization ​ — ​ (138,272) ​ (277) ​ (138,549) Right-of-use assets, net ​ $ — ​ $ 173,073 ​ $ (277) ​ $ 172,796 ​ The Company recognized lease expense for the operating lease right -of-use assets

Accounts payable

Accounts payable	12 Months Ended
	Mar. 31, 2023
Accounts payable
Accounts payable	14. Accounts payable Accounts payable consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Payable to a supplier of virtual simulation software $ 21,894 $ 77,266 Total ​ $ 21,894 ​ $ 77,266 ​

Accrued expenses

Accrued expenses	12 Months Ended
	Mar. 31, 2023
Accrued expenses
Accrued expenses	15. Accrued expenses Accrued expenses consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Accrued payroll $ 844,331 $ 480,404 Accrued rental fee ​ 2,265 ​ 77,777 Accrued promotion fee ​ 9,368 ​ 51,252 Audit fee payable ​ — ​ 20,000 Accrued Interest ​ 202,405 ​ 219,097 Other ​ 334 ​ 13,020 Total ​ $ 1,058,703 ​ $ 861,550 ​

Operating lease liability

Operating lease liability	12 Months Ended
	Mar. 31, 2023
Operating lease liability
Operating lease liability	16. Operating lease liability ​ Operating lease liabilities consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ March 31, ​ ​ 2023 ​ 2022 Shenzhen Wan $ 138,492 $ — Longcheng Car ​ ​ 86,330 ​ ​ — Total ​ ​ 224,822 ​ ​ — ​ Analyzed for reporting purposes as: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ March 31, ​ ​ 2023 ​ 2022 Operating Lease Liability-noncurrent $ — $ — Operating Lease Liability-current ​ 224,822 ​ — Total ​ 224,822 ​ — ​ The operating lease liabilities is the net present value of the remaining lease payments as of March 31,2023 and March 31, 2022, and the Company paid $136,256 and nil for the year ended March 31, 2023 and March 31, 2022. The discount rates used for Shenzhen Wan was 3.6500%. The weighted average remaining lease terms for operating leases was 1 year. The incremental borrowing rate for the Company ranged from 3.6500%. The discount rates used for Longcheng Car was 3.6500%. The weighted average remaining lease terms for operating leases was 9 months. The incremental borrowing rate for the Company ranged from 3.6500%. For the year ended March 31, 2023 and 2022, the amortized expense were $138,272 and nil, respectively. For the year ended March 31, 2023 and 2022, the total operating lease expenses were $235,069 and $ 90,748. Maturity analysis of operating lease liabilities as of March 31, 2023 is as follows: ​ ​ ​ ​ ​ ​ Discount rate at commencement $ 3.6500 % One year ​ 228,022 ​ Two years ​ — ​ Total undiscounted cash flows ​ 228,022 ​ Total operating lease liabilities ​ 224,822 ​ Difference between undiscounted cash flows and discounted cash flows ​ $ 3,200 ​ ​

Long-term loans

Long-term loans	12 Months Ended
	Mar. 31, 2023
Long-term loans
Long-term loans	17. Long-term loans Long-term loan consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Long-term loan $ 13,681,099 $ 14,809,302 ​ On January 4, 2022, the Group borrowed the amount of $13,681,099 (RMB 94,012,410) through a five-year long-term loan from Fujian Xinqiao Ocean Fishery Group Co., Ltd. The annual interest rate is 6%. The Group is obligated to pay interest on every December 30th, whereas the principal should be returned on January 3, 2027. Earlier payment is acceptable without any penalties.

Revenue

Revenue	12 Months Ended
	Mar. 31, 2023
Revenue
Revenue	18. Revenue Disaggregation of revenue For the years ended March 31, 2023, 2022 and 2021, all of the Group’s revenues were generated in the PRC. Additionally, all of the revenues for the periods were recognized from contracts with customers. Revenue consisted of the following categories: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Online VIP membership revenue(1) ​ $ 8,030,991 ​ $ 17,986,028 ​ $ 23,988,077 Online SVIP membership revenue(1) ​ 2,157,514 ​ 4,297,915 ​ 4,967,186 Technical services revenue(2) ​ 1,135,239 ​ 766,676 ​ 213,283 Total ​ $ 11,323,744 ​ $ 23,050,619 ​ $ 29,168,546 (1) The Group’s Online VIP membership revenue and Online SVIP membership revenue are principally derived from the rendering of vocational education services, as principal, to the online VIP and SVIP members(“members”) through an online education platform. The online education services currently comprise of two aspects: online vocational training and virtual simulation experimental training. Students that sign up for the online vocational training can log into the platform and access pre-recorded courses in the areas of their professional development. Virtual simulation technology training offers college students the opportunity to conduct experiments in a virtual environment as part of their curricula. For VIP members who have access to all platforms except virtual simulation experimental training, the Group charges a flat annual fee per member. For SVIP members who have access to all platforms including virtual simulation experimental training, the Group charges a flat fee per member as well. The Company would then recognize the service revenue over the membership term for each customer member. (2) The Group also generates revenue as a principal from technology services including courseware development as well as comprehensive cloud services for private companies, academic institutions and government agencies in PRC, which is recognized proportionally over the service period. Contract balances The following table provides information about the Group’s contract liabilities arising from contract with customers. The decrease in contract liabilities primarily resulted from the Group’s business decrease and the depressed economic environment. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ 2023 2022 Deferred revenue-current ​ $ 1,357,236 ​ $ 6,864,731 Deferred revenue-non-current ​ 3,430 ​ 3,713 Total ​ $ 1,360,666 ​ $ 6,868,444 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 Revenue recognized from deferred revenue balance ​ $ 6,825,412 ​ $ 11,456,667 ​ Deferred revenue refers to the remaining unamortized amount of membership fee of online members paid in advance. Deferred revenue primarily consists of membership fee received from customers for which the Group’s revenue recognition criteria have not been met. The deferred revenue will be recognized as revenue once the criteria for revenue recognition have been met. The Group’s remaining performance obligations represent the amount of the transaction price for which service has not been performed. As of March 31, 2023, the aggregate amount of the transaction price allocated for the remaining performance obligations amounted to $1,360,666. The Group expects to recognize revenue of $1,357,236 and $3,430 related the remaining performance obligations over the next 12 months and the next 12 months to 24 months, respectively.

Cost of revenue

Cost of revenue	12 Months Ended
	Mar. 31, 2023
Cost of revenue
Cost of revenue	19. Cost of revenue Cost of revenue consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Amortization expenses ​ $ 5,800,442 ​ $ 7,751,161 ​ $ 6,651,329 Depreciation expenses of server hardware ​ 3,943,495 ​ 4,172,837 ​ 3,689,815 Website maintenance fee ​ 1,510,417 ​ 2,746,431 ​ 1,565,281 Resource usage fees(1) ​ 1,510,417 ​ 1,622,891 ​ 1,407,768 Virtual simulation fees(2) ​ 555,560 ​ 1,106,713 ​ 1,279,050 Maintenance material consumption fees ​ 1,918 ​ 15,458 ​ 39,425 Employee compensation ​ 146,602 ​ 160,338 ​ — Employee benefit expenses ​ 10,281 ​ 9,199 ​ — Impairment(3) ​ ​ 13,800,583 ​ ​ — ​ ​ — Other ​ 21,175 ​ 88,171 ​ 79,743 Total ​ $ 27,300,890 ​ $ 17,673,199 ​ $ 14,712,411 (1) Since November 2018, the Company started to pay resource usage fees to colleges and universities in order to access the online course resources of these institutions with a period of validity of 5 years . (2) The Company paid virtual simulation fees to vendors Jiangsu Audio-visual Education Center in order to access virtual experimental training programs. (3) The impairment includes the impairment to property, plant and equipment for $5,749,384 , and the impairment to intangible asset for $ 8,051,199 .

Operating expenses

Operating expenses	12 Months Ended
	Mar. 31, 2023
Operating expenses
Operating expenses	20. Operating expenses Operating expenses consisted of the followings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Selling and marketing expenses: ​ ​ ​ Promotion expenses ​ $ 216,423 ​ $ 699,307 ​ $ 939,878 Telecommunications service fees ​ 76,058 ​ 756,546 ​ 461,216 Union pay service charges ​ 54,424 ​ 175,026 ​ 235,038 Employee compensation ​ 98,045 ​ 141,038 ​ 159,216 Employee benefit expenses ​ 19,259 ​ 22,593 ​ 11,784 ​ ​ $ 464,209 ​ $ 1,794,510 ​ $ 1,807,132 General and administrative expenses: ​ ​ ​ Employee compensation ​ $ 1,977,184 ​ $ 2,569,912 ​ $ 2,620,776 Consulting fees(1) ​ 264,800 ​ 253,676 ​ 216,309 Audit fees (1) ​ 258,500 ​ 432,100 ​ 152,925 Insurance fee(1) ​ 44,519 ​ 171,895 ​ 151,890 Daily expenses ​ 119,939 ​ 90,801 ​ 120,445 Attorney fee(1) ​ 429,087 ​ 272,887 ​ 94,666 Investment relationship fee ​ 51,889 ​ 19,292 ​ 90,581 Rental fee(2) ​ 235,069 ​ 90,748 ​ 77,768 Employee benefit expenses ​ 74,743 ​ 60,471 ​ 39,880 Depreciation expenses ​ 90,074 ​ 12,695 ​ — Amortization of intangible assets ​ 32,997 ​ 20,681 ​ — Entertainment ​ 14,800 ​ 26,344 ​ 17,673 Other ​ 65,932 ​ 122,799 ​ 71,536 ​ ​ $ 3,659,533 ​ $ 4,144,301 ​ $ 3,654,449 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses ​ $ 4,123,742 ​ $ 5,938,811 ​ $ 5,461,581 (1) Audit fee, consulting fee, insurance fee, attorney fee for the year ended March 31, 2021 were separated from service fee to list as comparative number. (2) According to the rental agreement renewal clauses, every renew needs to be renegotiated separately, thus the lease term was less than 12 months and the Company recognized the rental expenses as expense for short-term leases.

Other income (expenses), net

Other income (expenses), net	12 Months Ended
	Mar. 31, 2023
Other income (expenses), net
Other income (expenses), net	21. Other income (expenses), net Other income (expenses) consisted of the following: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Waiver of rental fee payable(1) ​ $ 157,757 ​ $ 246,551 ​ $ — Loss on disposals of property and equipment ​ — ​ (54,512) ​ — Other income (expenses), net ​ (11,929) ​ (10,222) ​ (8,553) Total ​ $ 145,828 ​ $ 181,817 ​ $ (8,553) (1) Wuxi Huichuang Technology Development Co., Ltd. (“the Lessor”) is a unrelated and state-owned enterprise. The Company and the Lessor signed rental agreement every year. Due to the successful IPO on NASDAQ as well as the impact of COVID 19 and to support local enterprises, in June 2021, the Lessor entered into an agreement with the Company to waive the rental fee payable from June 1, 2018 to May 31, 2019, June 1, 2019 to May 31, 2020, and June 1, 2020 to May 31, 2021, respectively, with a total amount of $246,551 for the year ended 2022. ​ Wuxi Huiying Technology Development Co., Ltd. (“Huiying” or “the Lessor”) is a unrelated and state-owned enterprise. On June 1, 2021, the property right of rental place was transferred from Huichuang to Huiying, and Huiying accepted all the rights and obligation from Huichuang as to this rent, especially the frequency of the sign, and the subsidy offered. The Lessor waived the rental fee payable from June 1, 2021 to May 31, 2023, with total amount of $157,757 for the year ended 2023.

Taxes Payable

Taxes Payable	12 Months Ended
	Mar. 31, 2023
Taxes Payable
Taxes Payable	22. Taxes Payable The Company is registered in the Cayman Islands. The Group generated substantially all of its income from its PRC operations for the years ended March 31, 2023 and 2022. Cayman Islands Under the current laws of the Cayman Islands, the Company is not subject to tax on income or capital gain, and no withholding tax is imposed to any dividends and payment made to shareholders. Hong Kong The Company’s subsidiary Easy Skills Technology Limited is located in Hong Kong and is subject to an income tax rate of 16.5% for assessable profit earned in Hong Kong before April 2018, and an income tax rate of 8.25% for assessable profit up to HKD 2,000,000 from April 2018 onwards. The Group had no assessable profit subject to Hong Kong profit tax for the years ended March 31, 2023 and 2022. PRC Income Tax The Company’s subsidiaries and VIEs in the PRC are subject to the statutory rate of 25%, in accordance with the Enterprise Income Tax law (the “EIT Law”), which was effective since January 1, 2008. Dividends, interests, rent or royalties payable by the Group’s PRC subsidiaries, to non-PRC resident enterprises, and proceeds from any such non-resident enterprise investor’s disposition of assets (after deducting the net value of such assets) shall be subject to 10% withholding tax, unless the respective non-PRC resident enterprise’s jurisdiction of incorporation has a tax treaty or arrangements with China that provides for a reduced withholding tax rate or an exemption from withholding tax. Although there are undistributed earnings of the Company’s subsidiaries in the PRC that are available for distribution to the Company, the undistributed earnings of the Company’s subsidiaries located in the PRC are considered to be indefinitely reinvested, because the Company does not have any present plan to pay any cash dividends on its ordinary shares in the foreseeable future and intends to retain most of its available funds and any future earnings for use in the operation and expansion of its business. Accordingly, no deferred tax liability has been accrued for the PRC dividend withholding taxes that would be payable upon the distribution of those amounts to the Company as of March 31, 2023 and 2022. The current and deferred portions of income tax expense included in the consolidated statements of income were as follows: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31 ​ 2023 2022 Current ​ $ 431,161 ​ $ 613,790 Deferred ​ (8,249) ​ (5,170) Income tax expense ​ $ 422,912 ​ $ 608,620 ​ The following table sets forth reconciliation between the statutory EIT rate of 25% and the effective tax for the years ended March 31, 2023, 2022 and 2021, respectively: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ ​ 2023 ​ 2022 ​ 2021 Income before income taxes $ (20,484,073) $ (791,672) $ 6,977,308 ​ Tax rate ​ 25 % 25 % 25 % Provision for income taxes at statutory tax rate ​ $ (5,121,018) ​ $ (197,918) ​ $ 1,744,327 ​ Effect of tax-exempt entity ​ 557,311 ​ 719,274 ​ 1,232,710 ​ Effect of pervious year over-paid tax expenses ​ 2,446 ​ 1,314 ​ 498,924 ​ Effect of non-tax deductible expenses and loss ​ 47 ​ 35,847 ​ 3,342 ​ Effect of deductible prior year loss ​ (11,010) ​ (18,406) ​ — ​ Effect of tax loss not recognized ​ 1,356,114 ​ 68,509 ​ — ​ Effect of pervious year over-accrued tax expenses ​ 293,334 ​ — ​ — ​ Effect of investment income(loss)not recognized ​ ​ (181,107) ​ ​ — ​ ​ — ​ Effect of impairment not recognized ​ ​ 3,526,795 ​ ​ — ​ ​ — ​ Income tax expense ​ $ 422,912 ​ $ 608,620 ​ $ 3,479,303 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax assets ​ $ 4,892,726 ​ $ 68,345 ​ $ 1,686 ​ Valuation allowance ​ (4,892,726) ​ (68,345) ​ (1,686) ​ Deferred tax assets, net ​ ​ — ​ ​ — ​ ​ — ​ Deferred tax liability ​ ​ 28,241 ​ ​ 38,744 ​ ​ — ​ ​ ​ $ 28,241 ​ $ 38,744 ​ $ — ​ ​ There was a temporary difference between the tax base and the reported amount of assets and liabilities in the financial statements as of March 31, 2023 and 2022 due to the acquisition of Jisen Information, thus a deferred income tax expense is recognized. And the temporary difference in the financial statements for the year ended March 31, 2023 was derived from the net loss of Wuxi Wangdao and WOFE, and the impairment to property, plant and equipment, intangible asset, other receivable and long term investment. The Company determines that it is more likely than not that the deferred tax assets will not be utilized in the future, thus the valuation allowance was recorded to net off the deferred tax assets. Value Added Tax (“VAT”) The Group’s membership revenues for providing non-academic education services are subject to a simple tax method to calculate VAT at 3%. The Group’s technical service revenue is subject to a VAT rate of 6%. Taxes payable consisted of the followings: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ 2023 2022 Income tax payable ​ $ 211,046 ​ $ 81,610 VAT payable ​ 41,092 ​ 46,035 Other tax payables ​ 6,245 ​ — Total ​ $ 258,383 ​ $ 127,645 ​

Equity

Equity	12 Months Ended
	Mar. 31, 2023
Equity
Equity	23. Equity Ordinary Shares On May 29, 2020, the shareholders approved a consolidation and increase of share capital such that the authorized share capital of the company consists of $100,000 divided into 500,000,000 ordinary shares of $0.0002 par value each, resulting in an aggregate of 9,000,000 ordinary shares outstanding. On July 27, 2020, the Company closed its initial public offering of 3,000,000 ordinary shares, US$0.0002 par value per share at an offering price of $5.00 per share, resulting in an aggregate of 12,000,000 ordinary shares outstanding. On September 1, 2021, the Company issued 2,900,000 new ordinary shares, resulting in an aggregate of 14,900,000 ordinary shares outstanding. On August 5, 2022, the company issued the 791,667 shares as part of the purchase price of the acquisition of Wuxi Talent, which were subsequently returned to the Company and cancelled in July 2023, see Note 7 for more details. Unless otherwise noted, all share and per share information has been adjusted to retroactively show the effect of the stock consolidation. Warrants In July 2020, we issued non-redeemable warrants to purchase an aggregate of 150,000 ordinary shares to underwriters in our initial public offering and certain of its affiliates. Such warrants are exercisable by the warrant holders, from December 27, 2020 to 5:00 p.m., Eastern time, June 30, 2025, to purchase, in whole or in part, up to 150,000 shares of our ordinary shares at a price of $6.00 per share and have cashless exercise options, subject to standard anti-dilution adjustments for share sub-divisions and similar transactions. As of August 15, 2023, all such warrants remain outstanding. On March 8, 2022, Skillful Craftsman issued to Tadpole Investing Carnival Limited, a British Virgin Islands company, a warrant to purchase the ordinary shares of Skillful Craftsman for an aggregate exercise price of no more than $10,000,000. Subject to certain limitations that are described below in this paragraph, up until January 3, 2025, the holder may exercise the warrant at the exercise price, which will be (x) $1.80 per share for any part of the warrant that is exercised between March 8, 2022 and January 3, 2023, (y) $2.50 per share for any part of the warrant that is exercised between January 4, 2023 and January 3, 2024, and (z) $3.00 per share for any part of the warrant that is exercised between January 4, 2024 and January 3, 2025, by delivering required documents to Skillful Craftsman. Without the prior written consent of Skillful Craftsman, the holder may not exercise the warrant for more than (i) $4,000,000 up until January 3, 2023, (ii) $7,000,000 up until January 3, 2024, and (iii) $10,000,000 up until January 3, 2025. As of August 15, 2023, no exercise of warrant has occurred.

Related parties

Related parties	12 Months Ended
	Mar. 31, 2023
Related parties
Related parties	24. Related parties a) The table below sets forth the related party and the relationship with the Company: ​ ​ ​ ​ Name of related party Relationship with the Company Xiaofeng Gao Chairman of the Board of Directors and Co-Chief Executive Officer, 25.1% beneficial owner of the Company Bin Fu Xuejun Ji Director and Co-Chief Executive Officer of the Company and General Manager of Jisen Information Shareholder Hunan Medical Star Technology Co., Ltd.( Medical Star) Joint venture (Minority Owned Subsidiary of the Comapny) Fujian Pingtan Ocean Fishery Group Co., Ltd. (“Fujian Fishery”) Miniority Owned Subsidiary of the Company ​ b) The Company had the following related party balances with the related parties mentioned above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ 2023 2022 Amounts due to Xiaofeng Gao ​ $ 2,199 ​ $ 2,542 Amounts due to Xuejun Ji ​ ​ 11,642 ​ ​ ​ Amounts due to Bin Fu ​ 40,747 ​ 44,107 Total ​ 54,588 ​ 46,649 ​ c) The Company had the following related party transaction with the related party mentioned above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended March 31, ​ 2023 2022 Expense paid by Xiaofeng Gao ​ $ 3,178 ​ $ 2,443 Repayment to Xiaofeng Gao ​ 3,514 ​ 256,972 Amounts received from Bin Fu ​ — ​ 43,693 Repayment to Bin Fu ​ — ​ 7,802 Sales to Medical Star ​ 45,762 ​ — ​ The Group did not have other significant balances or transactions with its related parties in the years ended March 31, 2023 and 2022.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Mar. 31, 2023
Commitments and Contingencies
Commitments and Contingencies	25. Commitments and Contingencies The Group’s lease consisted of operating leases for administrative office spaces in Wuxi and Shenzhen in the PRC. As of March 31, 2023, the Group had no obligation under long-term financing lease requiring minimum rentals. As of March 31, 2023, the Group did not have additional operating leases that have not yet commenced. Total operating lease expenses for the year ended March 31, 2023 was $235,069 and was recorded in general and administrative expense on the consolidated statements of operations. As of March 31, 2023, the Group had no future minimum payments under non-cancelable operating leases for a period greater than one year. On March 30, 2023, the Company established established a 75% owned subsidiary Le First Skillland Pte. Ltd. in Singapore, and there’s no transaction occurred. The Company committed to make a capital contribution of $282,463 (S $375,000) in September, 2023. As of March 31, 2023, future minimum payments under non-cancelable operating leases were as follows: Future Lease Payments ​ ​ ​ ​ ​ April 2023 to March 2024 $ 250,142 April 2024 to March 2025 ​ 14,370 Total ​ $ 264,512 ​

Subsequent events

Subsequent events	12 Months Ended
	Mar. 31, 2023
Subsequent events
Subsequent events	26. Subsequent events On March 3, 2023, the Company issued a one-year convertible bond with the original principal amount of $ 1, 000,000 April 3, 2023 On January 28, 2022, the Company signed an Equity Transfer Agreement stipulating that the Company would acquire 60% of Wuxi Talent’s equity through a payment of $2,182,866 (RMB 15,000,000) in cash and the issuance of 791,667 shares of Skillful Craftsman's stock (priced at $3 per share). By March 31st, 2023, the cash payment at the amount of $1,902,004 (RMB 13,070,000) and the issuance of 791,667 shares ($2,375,001) were made, and the control of Wuxi Talent was not transferred to the Company. On July 21, 2023, Skillful Craftsman Network Technology (Wuxi) Limited (“Craftsman Wuxi”), a wholly owned subsidiary of Company, Wuxi Talent and certain shareholders of Wuxi Talent (the “Shareholders”) entered into an Amendment Agreement (“Amendment Agreement”) to the Equity Transfer Agreement, which was originally entered by the parties on January 28, 2022 and supplemented by a Supplementary Agreement on February 23, 2022. Pursuant to the Amendment Agreement, parties agreed that: (i) the cash transfer price that has been paid by Craftsman Wuxi shall be used as investment in Wuxi Talent for 35% of all equity interest of Wuxi Talent; (ii) the Shareholders will not transfer any of their equity interest of Wuxi Talent to Craftsman Wuxi; and (iii) all the ordinary shares issued by the Company to the Shareholders as a part of the purchase price stipulated in the original Equity Transfer Agreement shall be returned to the Company for cancellation, and the cancellation was completed by transfer agent of the Company on July 27, 2023. On July 21, 2023, all the 791,667 shares issued by the Company related to Wuxi Talent were cancelled. On June 28, 2023, the Company incorporated a new company, Wuxi Kingway Cloud Technology Co., Ltd., taking 40% ownership as the single largest shareholder of KIngway Cloud and enacting material influence, thus accounted for equity method. In accordance with ASC 855-10, the Company evaluated all events and transactions that occurred after March 31, 2023 up through the date the Company issued these financial statements on August 14, 2023 and concluded that no other material subsequent events except for the disclosed above.

Condensed financial information

Condensed financial information of the Company	12 Months Ended
	Mar. 31, 2023
Condensed financial information of the Company
Condensed financial information of the Company	27. Condensed financial information of the Company The following is the condensed financial information of the Company on a parent company only basis. ​ Condensed balance sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ 2023 2022 ASSETS ​ ​ Current assets: ​ ​ Cash and cash equivalents ​ $ 1,198,204 ​ $ 2,622,624 Deferred expenses ​ 46,500 ​ 48,624 Prepayment and other current assets ​ — ​ 148,355 Amounts due from subsidiaries and VIE ​ 3,766,314 ​ — Investment in subsidiaries and VIE ​ 22,721,204 ​ 48,796,630 TOTAL ASSETS ​ $ 27,732,222 ​ $ 51,616,233 LIABILITIES ​ ​ Current liabilities: ​ ​ Amounts due to related parties ​ 2,107 ​ 2,443 Amounts due to subsidiaries and VIE ​ — ​ 967,522 Other payables ​ 775,873 ​ 382,983 TOTAL LIABILITIES ​ $ 777,980 ​ $ 1,352,948 ​ ​ ​ ​ ​ ​ ​ SHAREHOLDERS’ EQUITY: ​ ​ Ordinary shares, par value $0.0002 per share, 500,000,000 shares authorized; 14,900,000 shares issued and outstanding as of March 31, 2023 and 2022, respectively ​ 2,980 ​ 2,980 Additional paid-in capital ​ 19,055,407 ​ 18,055,407 Statutory reserve ​ 745,590 ​ 745,590 Accumulated Profits ​ 8,111,900 ​ 29,018,885 Accumulated other comprehensive income/(loss) ​ (961,635) ​ 2,440,423 TOTAL SHAREHOLDERS’ EQUITY ​ $ 26,954,242 ​ $ 50,263,285 ​ Condensed statements of income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 General and administrative expenses ​ $ (2,226,956) ​ $ (2,790,459) ​ $ (2,493,845) Investment loss, net ​ — ​ — ​ (2,436,809) Share of profit in subsidiaries and VIE ​ (18,678,368) ​ 1,476,806 ​ 8,428,844 Others, net ​ (1,661) ​ (86,639) ​ (185) Income before income tax provision ​ (20,906,985) ​ (1,400,292) ​ 3,498,005 Provision for income tax ​ — ​ — ​ — Net profit ​ $ (20,906,985) ​ $ (1,400,292) ​ $ 3,498,005 ​ Condensed cash flow ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended March 31, ​ 2023 2022 2021 Net cash used in operating activities ​ $ (1,779,420) ​ $ (3,157,114) ​ $ (2,506,846) Net cash generated from (used in) investing activities ​ (645,000) ​ 3,043,030 ​ (8,000,000) Net cash generated from financing activities ​ 1,000,000 ​ — ​ 13,243,554 Net cash inflow(outflow) ​ $ (1,424,420) ​ $ (114,084) ​ $ 2,736,708 ​ Condensed statements of comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Net income (loss) ​ $ (20,906,985) ​ $ (1,400,292) ​ $ 3,498,005 Other comprehensive income (loss) ​ (3,402,058) ​ 1,458,405 ​ 2,388,306 Comprehensive income (loss) ​ $ (24,309,043) ​ $ 58,113 ​ $ 5,886,311 ​ Basis of presentation Condensed financial information is used for the presentation of the Company, or the parent company. The condensed financial information of the parent company has been prepared using the same accounting policies as set out in the Company’s consolidated financial statements except that the parent company used the equity method to account for investment in its subsidiaries and VIEs. The parent company records its investment in its subsidiaries and VIE under the equity method of accounting as prescribed in ASC 323, Investments-Equity Method and Joint Ventures. Such investments are presented on the condensed balance sheets as “Investment in subsidiaries and VIE” and their respective profit or loss as “Share of profit in subsidiaries and VIE” on the condensed statements of income. Equity method accounting ceases when the carrying amount of the investment, including any additional financial support, in subsidiaries and VIE is reduced to zero unless the parent company has guaranteed obligations of the subsidiary and VIE or is otherwise committed to provide further financial support. If the subsidiaries and VIE subsequently report net income, the parent company shall resume applying the equity method only after its share of that net income equals the share of net losses not recognized during the period the equity method was suspended. The parent company’s condensed financial statements should be read in conjunction with the Company’s consolidated financial statements.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Basis of presentation	a) Basis of presentation The accompanying consolidated financial statements have been prepared in accordance with the accounting principles generally accepted in the United States of America (“US GAAP”).
Principles of consolidation	b) Principles of consolidation The consolidated financial statements include the financial statements of the Company, its subsidiaries and the VIEs. All significant inter-company transactions and balances between the Company, its subsidiaries and the VIEs have been eliminated upon consolidation.
Use of estimates	c) Use of estimates In preparing the consolidated financial statements in conformity with US GAAP, management makes estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates are based on information as of the date of the consolidated financial statements. Significant estimates required to be made by management include, but are not limited to, the valuation of accounts receivable, prepayments, and other receivables, useful lives of property and equipment and intangible assets, the recoverability of long-lived assets and provision necessary for contingent liabilities. Actual results could differ from those estimates.
Business combination	d) Business combination Business combinations are recorded using the acquisition method of accounting. The assets acquired, the liabilities assumed, and any non-controlling interests of the acquiree at the acquisition date, if any, are measured at their fair values as of the acquisition date. Goodwill is recognized and measured as the excess of the total consideration transferred plus the fair value of any non-controlling interest of the acquiree and fair value of previously held equity interest in the acquiree, if any, at the acquisition date over the fair values of the identifiable net assets acquired. Common forms of the consideration made in acquisitions include cash and common equity instruments. Consideration transferred in a business acquisition is measured at the fair value as of the date of acquisition. Acquisition-related expenses and restructuring costs are expensed as incurred. ASC 805 establishes a measurement period to provide the Company with a reasonable amount of time to obtain the information necessary to identify and measure various items in a business combination and cannot extend beyond one year from the acquisition date. Where the consideration in an acquisition includes contingent consideration the payment of which depends on the achievement of certain specified conditions post-acquisition, the contingent consideration is recognized and measured at its fair value at the acquisition date and is recorded as a liability, it is subsequently remeasured at fair value at each reporting date with changes in fair value reflected in earnings.
Cash and cash equivalents	e) Cash and cash equivalents Cash and cash equivalents include cash on hand, cash accounts, interest bearing savings accounts. The Group considers all highly liquid investment instruments with an original maturity of three months or less from the date of purchase to be cash equivalents. The Group maintains most of the bank accounts in the PRC. Cash balances in bank accounts in PRC are not insured by any programs.
Accounts receivable, net	f) Accounts receivable, net Accounts receivable are recognized and carried at original invoiced amount less an estimated allowance for uncollectible accounts. The Group usually determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collection trends. The Group establishes a provision for doubtful receivables when there is objective evidence that the Group may not be able to collect amounts due. The allowance is based on management’s best estimates of specific losses on individual exposures, as well as a provision on historical trends of collections. Based on management of customers’ credit and ongoing relationship, management makes conclusions whether any balances outstanding at the end of the period will be deemed uncollectible on an individual basis and on aging analysis basis. The provision is recorded against accounts receivables balances, with a corresponding charge recorded in the consolidated statements of income and comprehensive income. Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. Accounts receivable are recognized and carried at original invoiced amount less an estimated allowance for uncollectible accounts. The Group usually determines the adequacy of reserves for doubtful accounts based on individual account analysis and historical collection trends. The Group establishes a provision for doubtful receivables when there is objective evidence that the Group may not be able to collect amounts due. The allowance is based on management’s best estimates of specific losses on individual exposures, as well as a provision on historical trends of collections. Based on management of customers’ credit and ongoing relationship, management makes conclusions whether any balances outstanding at the end of the period will be deemed uncollectible on an individual basis and on aging analysis basis. The provision is recorded against accounts receivables balances, with a corresponding charge recorded in the consolidated statements of income and comprehensive income. Delinquent account balances are written-off against the allowance for doubtful accounts after management has determined that the likelihood of collection is not probable. The Group considers there is no allowance for doubtful accounts for the years ended March 31, 2023 and 2022.
Long-term investment	g) Long-term investment Long-term investments represent the Group’s investment in privately held company. The Group applies the equity method of accounting to account for an equity investment, in common stock or in-substance common stock, according to ASC Topic 323, Investment—Equity Method and Joint Ventures (“ASC 323”), over which it has significant influence but does not own a majority equity interest or otherwise control. Under the equity method, the Group’s share of the post-acquisition profits or losses of the equity investees are recorded in share of results of equity investees in the consolidated statements of operations and comprehensive income/(loss) and its share of post-acquisition movements of accumulated other comprehensive income/(loss) are recorded in accumulated other comprehensive income/(loss) as a component of shareholders’equity. The Group records its share of the results of equity investments on one quarter in arrears basis. The excess of the carrying amount of the investment over the underlying equity in net assets of the equity investee represents goodwill and intangible assets acquired. When the Group’s share of losses in the equity investee equals or exceeds its interest in the equity investee, the Group does not recognize further losses, unless the Group has incurred obligations or made payments or guarantees on behalf of the equity investee, or the Group holds other investments in the equity investee.
Property and equipment, net	h) Property and equipment, net Property and equipment are recorded at cost including the cost of improvements and stated at cost less accumulated depreciation. Maintenance and repairs are charged to expense as incurred. Depreciation and amortization are provided on the straight-line method based on the estimated useful lives of the assets as follows: ​ ​ ​ ​ Server hardware 5 years Vehicles 5 years ​ Expenditures for maintenance and repairs, which do not materially extend the useful lives of the assets, are charged to expense as incurred. Expenditures for major renewals and betterment which substantially extend the useful life of assets are capitalized. The cost and related accumulated depreciation of assets retired or sold are removed from the respective accounts, and any gain or loss is recognized in the consolidated statements of operations and comprehensive income in other income or expenses. Direct costs that are related to the construction of property and equipment and incurred in connection with bringing the assets to their intended use are capitalized as construction in progress. Construction in progress is transferred to specific property and equipment, and the depreciation of these assets commences when the assets are ready for their intended use.
Intangible assets, net	i) Intangible assets, net Intangible assets with definite lives are carried at cost less accumulated amortization. Amortization of definite-lived intangible assets is computed using the straight-line method over the estimated average useful lives, which are as follows: ​ ​ ​ ​ Acquired software 5 years Purchased courseware 5 years Copyrights 5 years ​
Lease	j) Lease Leases are classified at lease commencement date as either a finance lease or an operating lease. A lease is a finance lease if it meets any of the following criteria: (a) the lease transfers ownership of the underlying asset to the lessee by the end of the lease term. (b) the lease grants the lessee an option to purchase the underlying asset that the lessee is reasonably certain to exercise, (c) the lease term is for the major part of the remaining economic life of the underlying asset, (d) the present value of the sum of the lease payments and any residual value guaranteed by the lessee that is not already reflected in the lease payments equals or exceeds substantially all of the fair value of the underlying asset or (e) the underlying asset is of such a specialized nature that it is expected to have no alternative use to the lessor at the end of the lease term. When none of the foregoing criteria is met, the lease shall be classified as an operating lease. For a lessee, a lease is recognized as a right-of-use asset with a corresponding liability at lease commencement date. The lease liability is calculated at the present value of the lease payments not yet paid by using the lease term and discount rate determined at lease commencement. The right-of-use asset is calculated as the lease liability, increased by any initial direct costs and prepaid lease payments, reduced by any lease incentives received before lease commencement. The right-of-use asset itself is amortized on a straight-line basis unless another systematic method better reflects how the underlying asset will be used by and benefits the lessee over the lease term. In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842). The amendments in this ASU require an entity to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. The Company adopted ASC 842, effective as of the beginning of the first period presented, by using a modified retrospective transition approach in the accompanying financial statements of the Company. The adoption of this standard had an immaterial impact on the Company’s financial position, with no material impact on the results of operations and cash flows. The Company’s accounting policy is to recognize lease payments as rental expense for short-term leases less than 12 months. During the fiscal years ended March 31, 2023 and 2022, the Company’s recognized rental expenses amounted $88,472 and $90,748, respectively, pertaining to short-term leases. During the fiscal years ended March 31, 2023, the Company has entered into a long term lease agreement more than 12 months and the Company’s recognized lease expenses amounted $146,597, pertaining to long-term leases and the lease would be mature in 12 months, so we reclassify it into the short-term right-of-use asset.
Impairment of long-lived assets	k ) Impairment of long-lived assets The Group evaluates its long-lived assets with finite lives for impairment whenever events or changes in circumstances (such as a significant adverse change to market conditions that will impact the future use of the assets) indicate that the carrying amount of an asset may not be fully recoverable. When these events occur, the Group evaluates the impairment by comparing carrying amount of the assets to an estimate of future undiscounted cash flows expected to be generated from the use of the assets and their eventual disposition. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the assets, the Group recognizes an impairment loss based on the excess of the carrying amount of the long-lived assets over their fair value.
Convertible Bonds	l) Convertible Bonds Per the ASU 2020-06, it simplifies the accounting for certain financial instruments with characteristics of liabilities and equity. A debt with an embedded conversion feature shall be accounted for in its entirety as a liability and no portion of the proceeds from the issuance of the convertible debt instrument shall be accounted for as attributable to the conversion feature. Convertible bond will be accounted for as a single liability measured at its amortized cost.
Fair value of financial instruments	m) Fair value of financial instruments The fair value of a financial instrument is defined as the exchange price that would be received from an asset or paid to transfer a liability (as exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants at the measurement date. The carrying amounts of financial assets and liabilities, such as cash and cash equivalents, time deposits, accounts receivable, prepaid expenses and other current assets, accounts payable, and other current liabilities, approximate their fair values because of the short maturity of these instruments and market rates of interest. ASC 825-10 requires certain disclosures regarding the fair value of financial instruments. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. A three-level fair value hierarchy prioritizes the inputs used to measure fair value. The hierarchy requires entities to maximize the use of observable inputs and minimize the use of unobservable inputs. The three levels of inputs used to measure fair value are as follows: ● Level 1 - Quoted prices in active markets for identical assets and liabilities. ● Level 2 - Quoted prices in active markets for similar assets and liabilities, or other inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. ● Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets and liabilities. This includes certain pricing models, discounted cash flow methodologies and similar techniques that use significant unobservable inputs. The Group considers the carrying amount of its financial assets and liabilities, which consist primarily of cash and cash equivalents, accounts receivable, advance for investment, prepayment and other current asset, other receivables, related party receivable, accounts payable, other payable and related party payable approximate the fair value of the respective assets and liabilities as of March 31, 2023 and 2022 owing to their short-term nature or present value of the assets and liabilities.
Revenue recognition	n) Revenue recognition The Group has adopted Accounting Standards Codification Topic 606, “Revenue from Contracts with Customers” (“ASC 606”) effective as of April 1, 2018. The Group has chosen to use the full retrospective transition method, under which it is required to revise its consolidated financial statements for the year ended March 31, 2017, as if ASC 606 had been effective for those periods. Under ASC 606, the Group recognizes revenue when a customer obtains control of promised goods, in an amount that reflects the consideration which the Group expects to receive in exchange for the goods. To determine revenue recognition for arrangements within the scope of ASC 606, the Group performs the following five steps: (1) identify the contracts with a customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when or as the entity satisfies a performance obligation. The Group applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods it transfers to the customer. The Group’s revenue is principally derived from the rendering of education services as principal to the online VIP and SVIP members (“members”) through an online education platform. The online education services are currently comprised of two aspects: online vocational training and virtual simulation experimental training. Students that sign up for the online vocational training can log into the platform and access pre-recorded courses in the areas of their professional development. Virtual simulation technology training offers college students the opportunity to conduct experiments in a virtual environment as part of their curricula. For VIP members who have access to all platforms except virtual simulation experimental training, the Group charges a flat annual fee per member. For SVIP members who have access to all platforms including virtual simulation experimental training, the Group charges a flat fee per member per quarter. Consistent with the criteria of ASC Topic 606, Revenue from Contracts with Customers ("ASC 606"), the Group recognizes revenues when the Group satisfies a performance obligation by transferring a promised service to a customer. In accordance with ASC 606, the Group evaluates whether it is appropriate to record the gross amount of education services and related costs or the net amount earned as revenue. As the Group obtains control of the specified SVIP and VIP education services before they are transferred to the customers, thus the revenues should be recognized in the gross amount of consideration to which it expects to be entitled in exchange for the specified SVIP and VIP services transferred. The membership services mainly provide access to online education services, which are accounted for as a single performance obligation as the membership services are highly integrated. These service fees are collected in lump-sum for a specific contracted service period when the service contract is signed and the revenues are recognized proportionally over the service period, as the Group concluded that the membership service represents a stand ready obligation to provide the services while the member simultaneously receives and consumes the benefits of such services throughout the contract period. Deferred revenue refers to the remaining unamortized amount of membership fee that online members paid in advance. The Group also generates revenue from technology services including software development as well as comprehensive cloud services for private companies, academic institutions and government agencies in PRC, which is recognized proportionally over the service period. As the Group was obliged to perform the services and the transaction prices were determined by the Group and customers, the Group recognized the revenue as a principal.
Cost of revenue	o) Cost of revenue Cost of revenue is mainly composed of a copyright fee and related expenses for courseware and content development, website maintenance and information technology technicians and other employees, depreciation and amortization expenses, server management and bandwidth service fees paid to third-party providers and other miscellaneous expenses.
Allowance for doubtful accounts	p) Allowance for doubtful accounts Accounts receivable are recorded at original invoiced amount less an estimated allowance for uncollectible accounts. The management determines the adequacy of allowance for doubtful accounts based on individual account analysis and historical collection situation. When the management believes an allowance is necessary, the allowance is provided against accounts receivable balances, with a corresponding charge recorded in the statement of income. Delinquent account balances are written-off against the allowance for doubtful accounts when the collection is not probable. The Group considers there is no allowance for doubtful accounts for years ended March 31, 2023 and 2022.
Employee benefit expenses	q) Employee benefit expenses All eligible employees of the Group are entitled to staff welfare benefits including medical care, welfare subsidies, unemployment insurance, pension benefits and housing funds through a PRC government-mandated multi-employer defined contribution plan. The Group is required to make contributions to the plan and accrues for these benefits based on certain percentages of the qualified employees’ salaries. The Group recorded employee benefit expenses $104,283 and $92,264 of for the years ended March 31, 2023 and 2022, respectively.
Selling and marketing expenses	r) Selling and marketing expenses Selling and marketing are expensed as incurred in accordance with ASC 720-35. Among these, marketing and promotion costs were $216,423 and $699,307 for years ended March 31, 2023 and 2022, respectively.
Research and development costs	s) Research and development costs Research and development expenses consist of compensations and benefit expenses to the technology development personnel. Research and development expenses are primarily incurred in the development of new features and general improvement of the technology infrastructure to support its business operations. Research and development costs are expensed as incurred unless such costs qualify for capitalization as software development costs. In order to qualify for capitalization, (i) the preliminary project should be completed, (ii) management has committed to funding the project and it is probable that the project will be completed and the software will be used to perform the function intended, and (iii) it will result in significant additional functionality in the Group’s services. No research and development costs were capitalized for all years presented as the Group has not met all of the necessary capitalization requirements.
Income taxes	t) Income taxes The Group follows the liability method of accounting for income taxes in accordance with ASC 740 (“ASC 740”), Income Taxes. Under this method, deferred tax assets and liabilities are determined based on the difference between the financial reporting and tax bases of assets and liabilities using enacted tax rates that will be in effect in the period in which the differences are expected to reverse. The Group records a valuation allowance to offset deferred tax assets if based on the weight of available evidence, it is more-likely-than-not that some portion, or all, of the deferred tax assets will not be realized. The effect on deferred taxes of a change in tax rate is recognized in tax expense in the period that includes the enactment date of the change in tax rate. The Group accounted for uncertainties in income taxes in accordance with ASC 740. Interest and penalties related to unrecognized tax benefit recognized in accordance with ASC 740 are classified in the consolidated statements of income as income tax expense.
Uncertain tax positions	​ Uncertain tax positions The guidance on accounting for uncertainties in income taxes prescribes a more likely than not threshold for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. Guidance also applies to the recognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, accounting for income taxes in interim periods, and income tax disclosures. Significant judgment is required in evaluating the Group's uncertain tax positions and determining its provision for income taxes. The Group recognizes interest and penalties, if any, under accrued expenses and other current liabilities on its balance sheet and under other expenses in its consolidated statement of operations. There were no interest and penalties associated with uncertain tax positions for the years ended March 31, 2023 and 2022. As of March 31, 2023 and 2022, the Group did not have any significant unrecognized uncertain tax positions.
Value added tax ("VAT")	u) Value added tax (“VAT”) The Group is subject to VAT and related surcharges on revenue generated from the rendering of education services to the members through online education platform. The Group records revenue net of output VAT. This output VAT may be offset by qualified input VAT paid by the Group to suppliers. Net VAT balance between input VAT and output VAT is recorded in the line item of tax payable on the consolidated balance sheets. The Group is subject to VAT at the rate of 6% depending on whether the entity is a general tax payer, and related surcharges on revenue generated from providing services. Entities that are VAT general taxpayers are allowed to offset qualified input VAT, paid to suppliers against their output VAT liabilities.
Ordinary Shares	v) Ordinary Shares The Company accounts for repurchased ordinary shares under the cost method and include such treasury shares as a component of the common shareholders’ equity. Cancellation of treasury shares is recorded as a reduction of ordinary shares, additional paid-in capital and retained earnings, as applicable. An excess of purchase price over par value is allocated to additional paid-in capital first with any remaining excess charged entirely to retained earnings.
Related parties	w) Related parties Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, shareholder, or a related corporation.
Statutory reserves	x) Statutory reserves The Company’s PRC subsidiaries are required to make appropriations to certain non-distributable reserve funds. In accordance with China’s Company Laws, the Company’s PRC subsidiary that are Chinese companies, must make appropriations from their after-tax profit (as determined under the Accounting Standards for Business Enterprises as promulgated by the Ministry of Finance of the People’s Republic of China (“PRC GAAP”)) to non-distributable reserve funds including (i) statutory surplus fund and (ii) discretionary surplus fund. The appropriation to the statutory surplus fund must be at least 10% of the after-tax profits calculated in accordance with PRC GAAP. Appropriation is not required if the statutory surplus fund has reached 50% of the registered capital of the respective company. Appropriation to the discretionary surplus fund is made at the discretion of the respective company. ​ Pursuant to the laws applicable to China’s Foreign Investment Enterprises, the Company’s subsidiaries that are foreign investment enterprises in China have to make appropriations from their after-tax profit (as determined under PRC GAAP) to reserve funds including (i) general reserve fund, (ii) enterprise expansion fund and (iii) staff bonus and welfare fund. The appropriation to the general reserve fund must be at least 10% of the after tax profits calculated in accordance with PRC GAAP. Appropriation is not required if the reserve fund has reached 50% of the registered capital of the respective company. Appropriations to the other two reserve funds are at the respective company’s discretion. The use of the general reserve fund, statutory surplus fund and discretionary surplus fund are restricted to the offsetting of losses to increase the registered capital of the respective company. These reserves are not allowed to be transferred out as cash dividends, loans or advances, nor can they be distributed except under liquidation.
Earnings per share	y) Earnings per share The Company computes earnings per share (“EPS”) in accordance with ASC 260, “Earnings per Share”. ASC 260 requires companies with complex capital structures to present basic and diluted EPS. Basic EPS is measured as Net profit divided by the weighted average common shares outstanding for the period. Diluted EPS is similar to basic EPS but presents the dilutive effect on a per share basis of potential common shares (e.g., convertible securities, options and warrants) as if they had been converted at the beginning of the periods presented, or issuance date, if later. Potential common shares that have an anti-dilutive effect (i.e., those that increase income per share or decrease loss per share) are excluded from the calculation of diluted EPS.
Foreign currency translation	z) Foreign currency translation The Group’s principal country of operations is the PRC. The financial position and results of its operations are determined using RMB, the local currency, as the functional currency. The consolidated financial statements are reported using U.S. Dollars as the reporting currency. The results of operations and the statement of cash flows denominated in foreign currency are translated at the average rate of exchange during the reporting period. Assets and liabilities denominated in foreign currencies at the balance sheet date are translated at the applicable rates of exchange in effect at that date. The equity denominated in the functional currency is translated at the historical rate of exchange at the time of capital contribution. Because cash flows are translated based on the average translation rate, amounts related to assets and liabilities reported on the consolidated statements of cash flows will not necessarily agree with changes in the corresponding balances on the consolidated balance sheets. Translation adjustments arising from the use of different exchange rates from period to period are included as a separate component of accumulated other comprehensive income (loss) included in consolidated statements of changes in equity. Gains and losses from foreign currency transactions are included in the consolidated statement of operations and comprehensive income. The value of RMB against U.S. Dollar may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. Any significant revaluation of RMB may materially affect the Group’s consolidated financial condition in terms of reporting. The following table outlines the currency exchange rates that were used in the consolidated financial statements: ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 March 31, 2022 March 31, 2021 Year-end spot rate US$1= 6.8717 RMB US$1= 6.3482 RMB US$1= 6.5712 RMB Average rate US$1= 6.8855 RMB US$1= 6.4083 RMB US$1= 6.7720 RMB ​
Comprehensive income / (loss)	aa) Comprehensive income / (loss) Comprehensive income/(loss) is defined as the changes in shareholders’ equity during a period arising from transactions and other events and circumstances excluding transactions resulting from investments by shareholders and distributions to shareholders. Comprehensive income or loss is reported in the consolidated statements of comprehensive income/(loss). Accumulated other comprehensive income/(loss), as presented on the accompanying consolidated balance sheets, consists of accumulated foreign currency translation adjustments.
Dividends	​ ab) Dividends Dividends are recognized when declared. No dividends were declared for the years ended March 31, 2023 and 2022, respectively. The Group does not have any present plan to pay any dividens on ordinary shares in the foreseeable future. The Group currently intends to retain the available funds and any future earnings to operate and expand the business.
Warrants	ac) Warrants According to the SPA, the Company issued a purchase right to the Investor under which the Company will issue predetermined ordinary shares for a fixed cash consideration at a future date (the “Warrants”). The Warrants were accounted for as equity instruments to the Company, since: i) The Warrants were indexed to the Company’s own stock, since: ● The Warrants will be exercised upon the ODI approval, which is not based on an observable market, or an observable index. ● The exercise price is fixed by the SPA and Supplement Agreement, and the number of Underlying Shares to be issued is also fixed divided by the fixed purchase price per share. ii) The Warrants were classified in shareholders’ equity, since: ● The Warrants will be settled only by gross physical delivery of ordinary shares by the Company. ● The Company has the ability to settle the Private Placement in ordinary shares. ● The number of Underlying Shares to be issued is explicitly fixed at the total consideration divided by the fixed purchase price per share, with no adjustment provision. ● No requirement for cash settlement in the agreements. ● There are no cash settled top-off or make-whole provisions.
Segment reporting	ad) Segment reporting In accordance with ASC 280, Segment Reporting, operating segments are defined as components of an enterprise about which separate financial information is available that is evaluated regularly by the chief operating decision maker (“CODM”), or decision making group, in deciding how to allocate resources and in assessing performance. The Group has only one reportable segment since the Group does not distinguish revenues, costs and expenses by operating segments in its internal reporting, and reports costs and expenses by nature as a whole. The Group’s CODM, who has been identified as the CEO, reviews the consolidated results when making decisions about allocating resources and assessing performance of the Group as a whole. As the Group generates all of its revenue in the PRC, no geographical segments are presented.
Concentration of risks	ae) Concentration of risks Exchange Rate Risks The Company’s Chinese subsidiaries may be exposed to significant foreign currency risks from fluctuations and the degree of volatility of foreign exchange rates between the U.S. Dollar and the RMB. As of March 31, 2023 and 2022, the RMB denominated cash and cash equivalents amounted to $19,791,079 and $21,206,372, respectively. Currency Convertibility Risks Substantially all of the Group’s operating activities are transacted in RMB, which is not freely convertible into foreign currencies. All foreign exchange transactions take place either through the People’s Bank of China or other banks authorized to buy and sell foreign currencies at the exchange rates quoted by the People’s Bank of China. Approval of foreign currency payments by the People’s Bank of China or other regulatory institutions requires submitting a payment application form together with other information such as suppliers’ invoices, shipping documents and signed contracts. Concentration of Credit Risks Financial instruments that potentially subject the Group to concentration of credit risks consist primarily of cash and cash equivalents and accounts receivable, the balances of which stated on the consolidated balance sheets represented the Group’s maximum exposure. The Group places its cash and cash equivalents in good credit quality financial institutions in China. These service fees are collected by Union Pay, a financial institution of high credit quality, in lump-sum for a specific contracted service period when the service contract is signed, and all the remaining amount would be settled within 2-3 days.
Risks and uncertainties	af) Risks and uncertainties The operations of the Group are located in the PRC. Accordingly, the Group’s business, financial condition, and results of operations may be influenced by political, economic, and legal environments in the PRC, as well as by the general state of the PRC economy. The Group’s results may be adversely affected by changes in the political, regulatory and social conditions in the PRC. Although the Group has not experienced losses from these situations and believes that it is in compliance with existing laws and regulations including its organization and structure disclosed in Note 1, this may not be indicative of future results.
Recently announced accounting standards	ag) Recently announced accounting standards The Group considers the applicability and impact of all accounting standards updates (“ASU”). Management periodically reviews new accounting standards that are issued. The Group does not believe recently issued but not yet effective accounting standards would have a material effect would have a material effect on the consolidated financial position, statements of operations and cash flows.
Recently adopted accounting standards	ah) Recently adopted accounting standards In August 2020, the FASB issued ASU 2020-06, Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging -Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity, which simplifies the accounting for convertible instruments by reducing the number of accounting models available for convertible debt instruments. This guidance also eliminates the treasury stock method to calculate diluted earnings per share for convertible instruments and requires the use of the if-converted method. For public companies, the guidance is effective for fiscal years beginning after December 15, 2021, and interim periods within those fiscal years. Early adoption is permitted. The Group adopted this standard beginning April, 2022 and the impact was not material to the consolidated financial statements. In January 2020, the FASB issued ASU 2020-01, “Investments — Equity Securities (Topic 321), Investments — Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815) — Clarifying the Interactions between Topic 321, Topic 323, and Topic 815 (a consensus of the FASB Emerging Issues Task Force)”, which clarifies the interactions of the accounting for certain equity securities under ASC 321, investments accounted for under the equity method of accounting in ASC 323, and the accounting for certain forward contracts and purchased options accounted for under ASC 815. ASU 2020-01 could change how an entity accounts for (i) an equity security under the measurement alternative and (ii) a forward contract or purchased option to purchase securities that, upon settlement of the forward contract or exercise of the purchased option, would be accounted for under the equity method of accounting or the fair value option in accordance with ASC 825 “Financial Instruments”. These amendments improve current U.S. GAAP by reducing diversity in practice and increasing comparability of the accounting for these interactions. The new guidance is effective prospectively for the Company for the year ending March 31, 2022 and interim reporting periods during the year ending March 31, 2022. The Company adopted this standard beginning April, 2022 and the impact was not material to the consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, “Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes,” which simplifies various aspects related to accounting for income taxes. ASU 2019-12 removes certain exception to the general principles in ASC 740 and also clarifies and amends existing guidance to improve consistent application. The new guidance is effective for us for the year ending March 31, 2022 and interim reporting periods during the year ending March 31, 2022. The Company adopted the accounting standard in October 2022. The adoption of this guidance had no material impact on our financial position, results of operations and cash flows. In October 2018, the FASB issued ASU2018-17, Consolidation (Topic 810): Targeted Improvements to Related Party Guidance for Variable Interest Entities. ASU 2018-17 expands the accounting alternative that allows private companies the election not to apply the variable interest entity guidance to qualifying common control leasing arrangements. ASU 2018-17 broadens the scope of the private company alternative to include all common control arrangements that meet specific criteria (not just leasing arrangements). ASU 2018-17 also eliminates the requirement that entities consider indirect interests held through related parties under common control in their entirety when assessing whether a decision-making fee is a variable interest. Instead, the reporting entity will consider such indirect interests on a proportionate basis. The amendments are effective for public business entities for fiscal years beginning after December 15, 2019. Company adopted the accounting standard in April 2020. The adoption of the new guidance did not have a material impact on the Group’s consolidated statement of financial statement. In August 2018, the FASB issued 2018-15, Intangibles-Goodwill and Other-Internal Use Software (Subtopic 350-40), which reduces complexity for the accounting for costs of implementing a cloud computing service arrangement. The amendment is effective for public companies with fiscal years beginning after December 15, 2019. Company adopted the accounting standard in April 2020. The adoption of the new guidance did not have a material impact on the Group’s consolidated statement of financial statement. In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement - Disclosure Framework (Topic 820). The updated guidance improves the disclosure requirements on fair value measurements. The updated guidance if effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. Company adopted the accounting standard in April 2020. The adoption of the new guidance did not have a material impact on the Group’s consolidated statement of financial statement. In June 2016, the FASB issued ASU No. 2016-13, “Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments” (“ASU 2016-13”). Financial Instruments-Credit Losses (Topic 326) amends guidelines on reporting credit losses for assets held at amortized cost basis and available-for-sale debt securities. For assets held at amortized cost basis, Topic 326 eliminates the probable initial recognition threshold in current GAAP and, instead, requires an entity to reflect its current estimate of all expected credit losses. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial assets to present the net amount expected to be collected. For available-for-sale debt securities, credit losses should be measured in a manner similar to current GAAP, however Topic 326 will require that credit losses be presented as an allowance rather than as a write-down. ASU 2016-13 affects entities holding financial assets and net investment in leases that are not accounted for at fair value through Net profit. The amendments affect loans, debt securities, trade receivables, net investments in leases, off balance sheet credit exposures, reinsurance receivables, and any other financial assets not excluded from the scope that have the contractual right to receive cash. The amendments in this ASU will be effective for fiscal years beginning after December 15, 2019, including interim periods within those fiscal years. Company adopted the accounting standard in April 2020.The adoption of the new guidance did not have a material impact on the Group’s consolidated statement of financial statement. ​ In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases (Topic 842). The amendments in this ASU require an entity to recognize a right-of-use asset and lease liability for all leases with terms of more than 12 months. Recognition, measurement and presentation of expenses will depend on classification as a finance or operating lease. The amendments also require certain quantitative and qualitative disclosures about leasing arrangements. The Company adopted ASC 842 effective as of March 31, 2019 presented by using a modified retrospective transition approach in the accompanying financial statements of the Company. The adoption of this standard had no material impact on the Company’s financial position and the results of operations and cash flows.

Organization and basis of fin_2

Organization and basis of financial statements (Tables)	12 Months Ended
	Mar. 31, 2023
Organization and basis of financial statements
Summary of the Company's subsidiaries and the VIE	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Percentage ​ ​ ​ ​ ​ ​ ​ of direct or ​ ​ ​ ​ ​ ​ ​ ​ indirect ​ ​ ​ ​ ​ ​ ​ ​ ownership ​ ​ ​ ​ Date of ​ Place of ​ by the ​ Principal Name of Entity ​ incorporation ​ incorporation ​ Company ​ activities Subsidiaries: Direct Easy Skills Technology Limited (“Hong Kong ES”) December 24, 2018 HK 100 % Holding company Skillful Craftsman Network Technology (Wuxi) Co., Ltd. (“WOFE” or “Craftsman Wuxi”) January 16, 2019 PRC 100 % Investment holding Shenzhen Jisen Information Tech Limited (“Jisen Information”) ​ December 8, 2014 PRC 100 % Financial education and services LE FIRST SKILLAND PTE. LTD. (“LFS”) ​ March 30, 2023 Singapore 75 % Vocational education ​ ​ ​ ​ ​ ​ ​ ​ ​ VIE: ​ Indirect Wuxi Kingway Technology Co., Ltd. (“Wuxi Wangdao”) ​ June 6, 2013 PRC 100 % Vocational online education and technology services
Summary of financial statement balances and amounts of the Company's VIE were included in the accompanying consolidated financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 ASSETS ​ ​ Current assets: ​ ​ Cash and cash equivalents ​ $ 19,142,721 ​ $ 20,651,502 Accounts receivable, net ​ 8,572 ​ 252,215 Prepayments and other current assets ​ 129,148 ​ 466,846 Deferred expenses ​ 939,252 ​ 1,101,761 Amounts due from related parties ​ 958,634 ​ 1,589,182 Total current assets ​ 21,178,327 ​ 24,061,506 Non-current assets: ​ ​ Long-term investment ​ 14,296,824 ​ 14,673,898 Goodwill ​ — ​ 4,581,112 Property and equipment, net ​ 6,620 ​ 10,597,581 Intangible assets, net ​ — ​ 15,143,366 Total non-current assets ​ 14,303,444 ​ 44,995,957 TOTAL ASSETS ​ $ 35,481,771 ​ $ 69,057,463 Current liabilities: ​ ​ Accounts payable ​ $ 21,894 ​ $ 77,266 Taxes payable ​ 8,488 ​ 127,645 Employee benefits payable ​ 33,456 ​ 96,838 Deferred revenue-current ​ 1,357,236 ​ 6,864,731 Other payables ​ 104,738 ​ 5,104,380 Interest payable ​ 202,405 ​ — Related party payables ​ ​ ​ 44,107 Deferred tax liabilities ​ — ​ 38,744 Total current liabilities: ​ 1,728,217 ​ 12,353,711 Non-current liabilities: ​ ​ Long-term loans ​ 13,681,099 ​ 14,809,302 Deferred revenue-noncurrent ​ — ​ 3,713 Total non-current liabilities ​ 13,681,099 ​ 14,813,015 TOTAL LIABILITIES ​ $ 15,409,316 ​ $ 27,166,726 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ ​ 2023 ​ 2022 ​ 2021 Revenue $ 10,250,708 $ 23,050,619 $ 29,168,546 Net profit ​ $ (18,310,962) ​ $ 1,750,836 ​ $ 8,436,207 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ ​ 2023 ​ 2022 ​ 2021 Net cash provided by operating activities $ 148,162 $ 9,390,282 $ 13,927,170 Net cash used in investing activities ​ (529,511) ​ (18,530,989) ​ (12,864,697) Net cash provided by financing activities ​ — ​ 14,809,302 ​ — Effects of exchange rate changes on cash ​ (1,127,433) ​ 266,364 ​ 1,722,356 Net cash inflow ​ $ (1,508,782) ​ $ 5,934,959 ​ $ 2,784,829

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Mar. 31, 2023
Summary of Significant Accounting Policies
Summary of estimated useful lives of property and equipment	​ ​ ​ ​ Server hardware 5 years Vehicles 5 years
Summary of estimated useful lives of intangible assets	​ ​ ​ ​ Acquired software 5 years Purchased courseware 5 years Copyrights 5 years
Summary of currency exchange rates that were used in the consolidated financial statements	​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, 2023 March 31, 2022 March 31, 2021 Year-end spot rate US$1= 6.8717 RMB US$1= 6.3482 RMB US$1= 6.5712 RMB Average rate US$1= 6.8855 RMB US$1= 6.4083 RMB US$1= 6.7720 RMB

Business Combination (Tables)

Business Combination (Tables)	12 Months Ended
	Mar. 31, 2023
Business Combination
Schedule of allocation of the purchase price	​ ​ ​ ​ ​ Amount ​ ​ USD Fair value of total consideration transferred: Equity instrument (2.9 million common shares issued) 4,640,000 Less: Cash acquired from business combination (50,427) Subtotal: 4,589,573 Recognized amounts of identifiable assets acquired and liability assumed: Current assets 17,152 Intangible asset - computer software copyrights 175,854 Current liabilities (140,581) Deferred tax liabilities (43,964) Total identifiable net assets 8,461 Goodwill* 4,581,112 * The goodwill generated from the expected synergies from the cooperation of promoting the national pilot project of Education Certificate and Several Vocational Skill Level Certificates. Jisen Information develops trading simulators, invests in cloud education curriculum system and customized data analysis platform. Jisen Information's cloud education technology architecture system provides important complement to Company’s existing technology platform. With Jisen Information’s research and develop ability, the Company expects to lower the cost in platform construction and maintenance. Also, Jisen Information has established cooperation with five Chinese colleges and universities such as Anhui Normal University, Anhui University of Engineering and Anhui Business College. The Company gained potential customer resources from the business acquisition.

Cash and cash equivalents (Tabl

Cash and cash equivalents (Tables)	12 Months Ended
	Mar. 31, 2023
Cash and cash equivalents
Schedule of cash and cash equivalents	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Cash on hand $ 396 $ 429 Bank balances ​ 20,998,172 ​ 23,833,460 Other monetary funds ​ 218 ​ 236 Total ​ $ 20,998,786 ​ $ 23,834,125

Accounts receivable, net (Table

Accounts receivable, net (Tables)	12 Months Ended
	Mar. 31, 2023
Accounts receivable, net
Schedule of accounts receivable, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Accounts receivable, gross $ 458,104 $ 252,215 Less: allowance for doubtful accounts ​ — ​ — Accounts receivable, net ​ $ 458,104 ​ $ 252,215

Prepayments and other current_2

Prepayments and other current assets (Tables)	12 Months Ended
	Mar. 31, 2023
Prepayments and other current assets
Schedule of prepayments and other current assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Prepaid service fees(1) $ 1,136,769 $ 1,309,069 Prepaid insurance fee ​ $ — ​ $ 44,519 Prepaid income tax expenses ​ — ​ 318,162 Total ​ $ 1,136,769 ​ $ 1,671,750 ​ (1) Prepaid service fees consist of prepayment of telecommunications service fee and resource usage fee to colleges and universities in order to access the online course resources of these institutions. The prepayments are generally short-term in nature and are amortized over the related service period.

Other receivables (Tables)

Other receivables (Tables)	12 Months Ended
	Mar. 31, 2023
Other receivables
Schedule of other receivables	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Others ​ ​ 95,935 ​ ​ 33,059 Impairment ​ ​ (61,120) ​ ​ — Total ​ $ 34,815 ​ $ 33,059

Long-term investment (Tables)

Long-term investment (Tables)	12 Months Ended
	Mar. 31, 2023
Long-term investment
Schedule of long-term investment	​ ​ ​ ​ ​ ​ ​ ​ ​ Investment-1 Investment-2 Total ​ ​ USD ​ USD ​ USD Balance as of March 31, 2022 282,545 14,673,898 14,956,443 Investments made — — — Share gain (loss) from equity investments (14,899) 739,327 724,428 Impairment ​ (246,092) ​ — ​ (246,092) Foreign currency translation adjustments (21,554) (1,116,401) (1,137,955) Balance as of March 31, 2023 — 14,296,824 14,296,824

Goodwill (Tables)

Goodwill (Tables)	12 Months Ended
	Mar. 31, 2023
Goodwill
Schedule of changes in the carrying amount of goodwill	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Foreign currency Balance as of ​ ​ Balance as of ​ ​ ​ ​ ​ translation ​ March 31, ​ ​ March 31, 2022 ​ Additions ​ Impairment ​ adjustments ​ 2023 Jisen 4,581,112 — — (274,533) 4,306,579 Total 4,581,112 — — (274,533) 4,306,579

Property and equipment, net (Ta

Property and equipment, net (Tables)	12 Months Ended
	Mar. 31, 2023
Property and equipment, net
Schedule of property and equipment	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Server hardware $ 20,050,414 $ 21,703,857 Vehicles ​ 211,946 ​ 229,424 ​ ​ 20,262,360 ​ 21,933,281 Less: accumulated depreciation ​ (14,420,101) ​ (11,234,271) Impairment ​ ​ (5,760,944) ​ ​ — Property and equipment, net ​ $ 81,315 ​ $ 10,699,010

Intangible assets, net (Tables)

Intangible assets, net (Tables)	12 Months Ended
	Mar. 31, 2023
Intangible assets, net
Schedule of intangible assets	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Software $ 5,610,547 $ 6,073,217 Courseware ​ 30,443,609 ​ 32,954,121 Copyrights ​ 12,266,906 ​ 13,275,393 ​ ​ 48,321,062 ​ 52,302,731 Less: accumulated amortization ​ (39,999,028) ​ (36,970,335) Less: impairment ​ ​ (8,067,388) ​ ​ — Intangible assets, net ​ $ 254,646 ​ $ 15,332,396
Schedule of amortization amount of intangible asset	​ ​ ​ ​ ​ 2024 $ 72,602 2025 ​ 72,602 2026 ​ 72,602 2027 ​ 36,840 Total ​ $ 254,646

Operating Right-of-use asset,_2

Operating Right-of-use asset, net (Tables)	12 Months Ended
	Mar. 31, 2023
Operating Right-of-use asset, net
Schedule of operating right-of-use asset, net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ March 31, Increase/ Exchange rate March 31, ​ ​ 2022 ​ (Decrease) ​ translation ​ 2023 Shenzhen Wan ​ $ — ​ $ 211,765 ​ $ — ​ $ 211,765 Longcheng Car ​ ​ — ​ ​ 99,580 ​ ​ — ​ ​ 99,580 Total right-of-use assets, at cost ​ — ​ 311,345 ​ — ​ 311,345 Less: accumulated amortization ​ — ​ (138,272) ​ (277) ​ (138,549) Right-of-use assets, net ​ $ — ​ $ 173,073 ​ $ (277) ​ $ 172,796

Accounts payable (Tables)

Accounts payable (Tables)	12 Months Ended
	Mar. 31, 2023
Accounts payable
Schedule of accounts payable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Payable to a supplier of virtual simulation software $ 21,894 $ 77,266 Total ​ $ 21,894 ​ $ 77,266

Accrued expenses (Tables)

Accrued expenses (Tables)	12 Months Ended
	Mar. 31, 2023
Accrued expenses
Schedule of accrued expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Accrued payroll $ 844,331 $ 480,404 Accrued rental fee ​ 2,265 ​ 77,777 Accrued promotion fee ​ 9,368 ​ 51,252 Audit fee payable ​ — ​ 20,000 Accrued Interest ​ 202,405 ​ 219,097 Other ​ 334 ​ 13,020 Total ​ $ 1,058,703 ​ $ 861,550

Operating lease liability (Tabl

Operating lease liability (Tables)	12 Months Ended
	Mar. 31, 2023
Operating lease liability
Schedule of operating lease liabilities	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ March 31, ​ ​ 2023 ​ 2022 Shenzhen Wan $ 138,492 $ — Longcheng Car ​ ​ 86,330 ​ ​ — Total ​ ​ 224,822 ​ ​ —
Schedule of analyzed operating lease liability	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of ​ ​ March 31, ​ March 31, ​ ​ 2023 ​ 2022 Operating Lease Liability-noncurrent $ — $ — Operating Lease Liability-current ​ 224,822 ​ — Total ​ 224,822 ​ —
Schedule of maturity analysis of operating lease liabilities	​ ​ ​ ​ ​ ​ Discount rate at commencement $ 3.6500 % One year ​ 228,022 ​ Two years ​ — ​ Total undiscounted cash flows ​ 228,022 ​ Total operating lease liabilities ​ 224,822 ​ Difference between undiscounted cash flows and discounted cash flows ​ $ 3,200 ​

Long-term loans (Tables)

Long-term loans (Tables)	12 Months Ended
	Mar. 31, 2023
Long-term loans
Schedule of long term loans	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ ​ 2023 ​ 2022 Long-term loan $ 13,681,099 $ 14,809,302

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Mar. 31, 2023
Revenue
Schedule of disaggregation of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Online VIP membership revenue(1) ​ $ 8,030,991 ​ $ 17,986,028 ​ $ 23,988,077 Online SVIP membership revenue(1) ​ 2,157,514 ​ 4,297,915 ​ 4,967,186 Technical services revenue(2) ​ 1,135,239 ​ 766,676 ​ 213,283 Total ​ $ 11,323,744 ​ $ 23,050,619 ​ $ 29,168,546 (1) The Group’s Online VIP membership revenue and Online SVIP membership revenue are principally derived from the rendering of vocational education services, as principal, to the online VIP and SVIP members(“members”) through an online education platform. The online education services currently comprise of two aspects: online vocational training and virtual simulation experimental training. Students that sign up for the online vocational training can log into the platform and access pre-recorded courses in the areas of their professional development. Virtual simulation technology training offers college students the opportunity to conduct experiments in a virtual environment as part of their curricula. For VIP members who have access to all platforms except virtual simulation experimental training, the Group charges a flat annual fee per member. For SVIP members who have access to all platforms including virtual simulation experimental training, the Group charges a flat fee per member as well. The Company would then recognize the service revenue over the membership term for each customer member. (2) The Group also generates revenue as a principal from technology services including courseware development as well as comprehensive cloud services for private companies, academic institutions and government agencies in PRC, which is recognized proportionally over the service period.
Schedule of contract balances	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ 2023 2022 Deferred revenue-current ​ $ 1,357,236 ​ $ 6,864,731 Deferred revenue-non-current ​ 3,430 ​ 3,713 Total ​ $ 1,360,666 ​ $ 6,868,444 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 Revenue recognized from deferred revenue balance ​ $ 6,825,412 ​ $ 11,456,667

Cost of revenue (Tables)

Cost of revenue (Tables)	12 Months Ended
	Mar. 31, 2023
Cost of revenue
Schedule of cost of revenue	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Amortization expenses ​ $ 5,800,442 ​ $ 7,751,161 ​ $ 6,651,329 Depreciation expenses of server hardware ​ 3,943,495 ​ 4,172,837 ​ 3,689,815 Website maintenance fee ​ 1,510,417 ​ 2,746,431 ​ 1,565,281 Resource usage fees(1) ​ 1,510,417 ​ 1,622,891 ​ 1,407,768 Virtual simulation fees(2) ​ 555,560 ​ 1,106,713 ​ 1,279,050 Maintenance material consumption fees ​ 1,918 ​ 15,458 ​ 39,425 Employee compensation ​ 146,602 ​ 160,338 ​ — Employee benefit expenses ​ 10,281 ​ 9,199 ​ — Impairment(3) ​ ​ 13,800,583 ​ ​ — ​ ​ — Other ​ 21,175 ​ 88,171 ​ 79,743 Total ​ $ 27,300,890 ​ $ 17,673,199 ​ $ 14,712,411 (1) Since November 2018, the Company started to pay resource usage fees to colleges and universities in order to access the online course resources of these institutions with a period of validity of 5 years . (2) The Company paid virtual simulation fees to vendors Jiangsu Audio-visual Education Center in order to access virtual experimental training programs. (3) The impairment includes the impairment to property, plant and equipment for $5,749,384 , and the impairment to intangible asset for $ 8,051,199 .

Operating expenses (Tables)

Operating expenses (Tables)	12 Months Ended
	Mar. 31, 2023
Operating expenses
Schedule of operating expenses	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Selling and marketing expenses: ​ ​ ​ Promotion expenses ​ $ 216,423 ​ $ 699,307 ​ $ 939,878 Telecommunications service fees ​ 76,058 ​ 756,546 ​ 461,216 Union pay service charges ​ 54,424 ​ 175,026 ​ 235,038 Employee compensation ​ 98,045 ​ 141,038 ​ 159,216 Employee benefit expenses ​ 19,259 ​ 22,593 ​ 11,784 ​ ​ $ 464,209 ​ $ 1,794,510 ​ $ 1,807,132 General and administrative expenses: ​ ​ ​ Employee compensation ​ $ 1,977,184 ​ $ 2,569,912 ​ $ 2,620,776 Consulting fees(1) ​ 264,800 ​ 253,676 ​ 216,309 Audit fees (1) ​ 258,500 ​ 432,100 ​ 152,925 Insurance fee(1) ​ 44,519 ​ 171,895 ​ 151,890 Daily expenses ​ 119,939 ​ 90,801 ​ 120,445 Attorney fee(1) ​ 429,087 ​ 272,887 ​ 94,666 Investment relationship fee ​ 51,889 ​ 19,292 ​ 90,581 Rental fee(2) ​ 235,069 ​ 90,748 ​ 77,768 Employee benefit expenses ​ 74,743 ​ 60,471 ​ 39,880 Depreciation expenses ​ 90,074 ​ 12,695 ​ — Amortization of intangible assets ​ 32,997 ​ 20,681 ​ — Entertainment ​ 14,800 ​ 26,344 ​ 17,673 Other ​ 65,932 ​ 122,799 ​ 71,536 ​ ​ $ 3,659,533 ​ $ 4,144,301 ​ $ 3,654,449 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Operating expenses ​ $ 4,123,742 ​ $ 5,938,811 ​ $ 5,461,581 (1) Audit fee, consulting fee, insurance fee, attorney fee for the year ended March 31, 2021 were separated from service fee to list as comparative number. (2) According to the rental agreement renewal clauses, every renew needs to be renegotiated separately, thus the lease term was less than 12 months and the Company recognized the rental expenses as expense for short-term leases.

Other income (expenses), net (T

Other income (expenses), net (Tables)	12 Months Ended
	Mar. 31, 2023
Other income (expenses), net
Schedule of other income expense net	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Waiver of rental fee payable(1) ​ $ 157,757 ​ $ 246,551 ​ $ — Loss on disposals of property and equipment ​ — ​ (54,512) ​ — Other income (expenses), net ​ (11,929) ​ (10,222) ​ (8,553) Total ​ $ 145,828 ​ $ 181,817 ​ $ (8,553) (1) Wuxi Huichuang Technology Development Co., Ltd. (“the Lessor”) is a unrelated and state-owned enterprise. The Company and the Lessor signed rental agreement every year. Due to the successful IPO on NASDAQ as well as the impact of COVID 19 and to support local enterprises, in June 2021, the Lessor entered into an agreement with the Company to waive the rental fee payable from June 1, 2018 to May 31, 2019, June 1, 2019 to May 31, 2020, and June 1, 2020 to May 31, 2021, respectively, with a total amount of $246,551 for the year ended 2022. ​ Wuxi Huiying Technology Development Co., Ltd. (“Huiying” or “the Lessor”) is a unrelated and state-owned enterprise. On June 1, 2021, the property right of rental place was transferred from Huichuang to Huiying, and Huiying accepted all the rights and obligation from Huichuang as to this rent, especially the frequency of the sign, and the subsidy offered. The Lessor waived the rental fee payable from June 1, 2021 to May 31, 2023, with total amount of $157,757 for the year ended 2023.

Taxes Payable (Tables)

Taxes Payable (Tables)	12 Months Ended
	Mar. 31, 2023
Taxes Payable
Schedule of current and deferred portions of income tax expense	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31 ​ 2023 2022 Current ​ $ 431,161 ​ $ 613,790 Deferred ​ (8,249) ​ (5,170) Income tax expense ​ $ 422,912 ​ $ 608,620 ​
Schedule of reconciliation of statutory income tax and effective tax	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ ​ 2023 ​ 2022 ​ 2021 Income before income taxes $ (20,484,073) $ (791,672) $ 6,977,308 ​ Tax rate ​ 25 % 25 % 25 % Provision for income taxes at statutory tax rate ​ $ (5,121,018) ​ $ (197,918) ​ $ 1,744,327 ​ Effect of tax-exempt entity ​ 557,311 ​ 719,274 ​ 1,232,710 ​ Effect of pervious year over-paid tax expenses ​ 2,446 ​ 1,314 ​ 498,924 ​ Effect of non-tax deductible expenses and loss ​ 47 ​ 35,847 ​ 3,342 ​ Effect of deductible prior year loss ​ (11,010) ​ (18,406) ​ — ​ Effect of tax loss not recognized ​ 1,356,114 ​ 68,509 ​ — ​ Effect of pervious year over-accrued tax expenses ​ 293,334 ​ — ​ — ​ Effect of investment income(loss)not recognized ​ ​ (181,107) ​ ​ — ​ ​ — ​ Effect of impairment not recognized ​ ​ 3,526,795 ​ ​ — ​ ​ — ​ Income tax expense ​ $ 422,912 ​ $ 608,620 ​ $ 3,479,303 ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ Deferred tax assets ​ $ 4,892,726 ​ $ 68,345 ​ $ 1,686 ​ Valuation allowance ​ (4,892,726) ​ (68,345) ​ (1,686) ​ Deferred tax assets, net ​ ​ — ​ ​ — ​ ​ — ​ Deferred tax liability ​ ​ 28,241 ​ ​ 38,744 ​ ​ — ​ ​ ​ $ 28,241 ​ $ 38,744 ​ $ — ​
Schedule of taxes payable	​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ 2023 2022 Income tax payable ​ $ 211,046 ​ $ 81,610 VAT payable ​ 41,092 ​ 46,035 Other tax payables ​ 6,245 ​ — Total ​ $ 258,383 ​ $ 127,645

Related parties (Tables)

Related parties (Tables)	12 Months Ended
	Mar. 31, 2023
Related parties
Schedule of related party balances	a) The table below sets forth the related party and the relationship with the Company: ​ ​ ​ ​ Name of related party Relationship with the Company Xiaofeng Gao Chairman of the Board of Directors and Co-Chief Executive Officer, 25.1% beneficial owner of the Company Bin Fu Xuejun Ji Director and Co-Chief Executive Officer of the Company and General Manager of Jisen Information Shareholder Hunan Medical Star Technology Co., Ltd.( Medical Star) Joint venture (Minority Owned Subsidiary of the Comapny) Fujian Pingtan Ocean Fishery Group Co., Ltd. (“Fujian Fishery”) Miniority Owned Subsidiary of the Company b) The Company had the following related party balances with the related parties mentioned above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ 2023 2022 Amounts due to Xiaofeng Gao ​ $ 2,199 ​ $ 2,542 Amounts due to Xuejun Ji ​ ​ 11,642 ​ ​ ​ Amounts due to Bin Fu ​ 40,747 ​ 44,107 Total ​ 54,588 ​ 46,649 ​ c) The Company had the following related party transaction with the related party mentioned above: ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the Years Ended March 31, ​ 2023 2022 Expense paid by Xiaofeng Gao ​ $ 3,178 ​ $ 2,443 Repayment to Xiaofeng Gao ​ 3,514 ​ 256,972 Amounts received from Bin Fu ​ — ​ 43,693 Repayment to Bin Fu ​ — ​ 7,802 Sales to Medical Star ​ 45,762 ​ — ​

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Mar. 31, 2023
Commitments and Contingencies
Schedule of future minimum payments under non-cancelable operating leases	As of March 31, 2023, future minimum payments under non-cancelable operating leases were as follows: Future Lease Payments ​ ​ ​ ​ ​ April 2023 to March 2024 $ 250,142 April 2024 to March 2025 ​ 14,370 Total ​ $ 264,512

Condensed financial informati_2

Condensed financial information of the Company (Tables)	12 Months Ended
	Mar. 31, 2023
Condensed financial information of the Company
Summary of condensed financial information of the Company on a parent company only basis	The following is the condensed financial information of the Company on a parent company only basis. ​ Condensed balance sheets ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ As of March 31, ​ 2023 2022 ASSETS ​ ​ Current assets: ​ ​ Cash and cash equivalents ​ $ 1,198,204 ​ $ 2,622,624 Deferred expenses ​ 46,500 ​ 48,624 Prepayment and other current assets ​ — ​ 148,355 Amounts due from subsidiaries and VIE ​ 3,766,314 ​ — Investment in subsidiaries and VIE ​ 22,721,204 ​ 48,796,630 TOTAL ASSETS ​ $ 27,732,222 ​ $ 51,616,233 LIABILITIES ​ ​ Current liabilities: ​ ​ Amounts due to related parties ​ 2,107 ​ 2,443 Amounts due to subsidiaries and VIE ​ — ​ 967,522 Other payables ​ 775,873 ​ 382,983 TOTAL LIABILITIES ​ $ 777,980 ​ $ 1,352,948 ​ ​ ​ ​ ​ ​ ​ SHAREHOLDERS’ EQUITY: ​ ​ Ordinary shares, par value $0.0002 per share, 500,000,000 shares authorized; 14,900,000 shares issued and outstanding as of March 31, 2023 and 2022, respectively ​ 2,980 ​ 2,980 Additional paid-in capital ​ 19,055,407 ​ 18,055,407 Statutory reserve ​ 745,590 ​ 745,590 Accumulated Profits ​ 8,111,900 ​ 29,018,885 Accumulated other comprehensive income/(loss) ​ (961,635) ​ 2,440,423 TOTAL SHAREHOLDERS’ EQUITY ​ $ 26,954,242 ​ $ 50,263,285 ​ Condensed statements of income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 General and administrative expenses ​ $ (2,226,956) ​ $ (2,790,459) ​ $ (2,493,845) Investment loss, net ​ — ​ — ​ (2,436,809) Share of profit in subsidiaries and VIE ​ (18,678,368) ​ 1,476,806 ​ 8,428,844 Others, net ​ (1,661) ​ (86,639) ​ (185) Income before income tax provision ​ (20,906,985) ​ (1,400,292) ​ 3,498,005 Provision for income tax ​ — ​ — ​ — Net profit ​ $ (20,906,985) ​ $ (1,400,292) ​ $ 3,498,005 ​ Condensed cash flow ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the year ended March 31, ​ 2023 2022 2021 Net cash used in operating activities ​ $ (1,779,420) ​ $ (3,157,114) ​ $ (2,506,846) Net cash generated from (used in) investing activities ​ (645,000) ​ 3,043,030 ​ (8,000,000) Net cash generated from financing activities ​ 1,000,000 ​ — ​ 13,243,554 Net cash inflow(outflow) ​ $ (1,424,420) ​ $ (114,084) ​ $ 2,736,708 ​ Condensed statements of comprehensive income ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ For the years ended March 31, ​ 2023 2022 2021 Net income (loss) ​ $ (20,906,985) ​ $ (1,400,292) ​ $ 3,498,005 Other comprehensive income (loss) ​ (3,402,058) ​ 1,458,405 ​ 2,388,306 Comprehensive income (loss) ​ $ (24,309,043) ​ $ 58,113 ​ $ 5,886,311

Organization and basis of fin_3

Organization and basis of financial statements (Details)				12 Months Ended
	Aug. 05, 2022 shares	Jun. 06, 2022	Sep. 01, 2021 $ / shares shares	Mar. 31, 2023 shares	Jun. 28, 2023	Mar. 30, 2023 USD ($)	Mar. 30, 2023 SGD ($)
Organization and basis of financial statements
Number of ordinary shares issued			2,900,000
Issuance of ordinary shares for business combination (in shares)	791,667
Wuxi Kingway Cloud Technology Co., Ltd | Subsequent events
Organization and basis of financial statements
Ownership interest percentage					40%
Shenzhen Jisen Information Tech Limited
Organization and basis of financial statements
Ownership interest percentage in subsidiary				100%
A subsidiary in Singapore
Organization and basis of financial statements
Ownership interest percentage in subsidiary				75%
WOFE" or "Craftsman Wuxi
Organization and basis of financial statements
Ownership interest percentage in subsidiary				100%
LE FIRST SKILLAND PTE. LTD., Singapore [Member]
Organization and basis of financial statements
Ownership interest percentage in subsidiary						75%	75%
Capital contribution						$ 282,463	$ 375,000
Shenzhen Jisen Information Tech Limited | Wuxi Kingway Cloud Technology Co., Ltd
Organization and basis of financial statements
Ownership interest transferred (in percent)		100%
Shenzhen Jisen Information Tech Limited
Organization and basis of financial statements
Percentage of interest acquired			100%
Issuance of ordinary shares for business combination (in shares)			2,900,000
Share price of ordinary shares issued for business combination | $ / shares			$ 1.60
Shenzhen Jisen Information Tech Limited | Shenzhen Jisen Information Tech Limited
Organization and basis of financial statements
Percentage of interest acquired			100%
Issuance of ordinary shares for business combination (in shares)			2,900,000
Share price of ordinary shares issued for business combination | $ / shares			$ 1.60
Mr.Gao Xiaofeng
Organization and basis of financial statements
Number of ordinary shares issued				7,740,000
Mr.Hua Lugang
Organization and basis of financial statements
Number of ordinary shares issued				1,800,000

Organization and basis of fin_4

Organization and basis of financial statements - Company's subsidiaries (Details)	Mar. 31, 2023
Hong Kong ES
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of direct ownership by the Company	100%
WOFE" or "Craftsman Wuxi
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of direct ownership by the Company	100%
Wuxi Wangdao
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of direct ownership by the Company	100%
Shenzhen Jisen Information Tech Limited
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of direct ownership by the Company	100%
LE FIRST SKILLAND PTE. LTD. ("LFS")
Consolidation, Less than Wholly Owned Subsidiary, Parent Ownership Interest, Effects of Changes, Net [Line Items]
Percentage of direct ownership by the Company	75%

Organization and basis of fin_5

Organization and basis of financial statements - VIE (Details)	12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)
Variable interest entity
Contract price exceeding the limit to be called for major contract	$ 100,000
VIE contribution as a percentage of consolidated revenues	91%	100%
VIE contribution as a percentage of consolidated total assets	82%	86%
VIE contribution as a percentage of consolidated total liabilities	92%	90%
Current assets:
Cash and cash equivalents	$ 20,998,786	$ 23,834,125		¥ 19,791,079	¥ 21,206,372
Accounts receivable, net	458,104	252,215
Total current assets	24,530,478	27,523,924
Non-current assets
Long-term investment	14,296,824	14,956,443
Goodwill	4,306,579	4,581,112
Property and equipment, net	81,315	10,699,010
Intangible assets, net	254,646	15,332,396
Total non-current assets	19,112,160	45,568,961
TOTAL ASSETS	43,642,638	73,092,885
Current liabilities:
Accounts payable	21,894	77,266
Taxes payable	258,383	127,645
Deferred revenue-current	1,357,236	6,864,731
Related party payables	54,588	46,649
Deferred tax liabilities	1,357,236	6,864,731
Total current liabilities	3,003,867	8,016,585
Non-current liabilities:
Deferred revenue-noncurrent	3,430	3,713
Total non-current liabilities	13,684,529	14,813,015
TOTAL LIABILITIES	16,688,396	22,829,600
Revenue	11,323,744	23,050,619	$ 29,168,546
Net income (loss)	(20,906,985)	(1,400,292)	3,498,005
Net cash provided by operating activities	(2,558,438)	4,828,933	10,754,484
Net cash used in investing activities	(300,631)	(13,595,605)	(20,864,698)
Net cash provided by financing activities	1,000,000	14,809,302	13,243,554
Effects of exchange rate changes on cash	(976,270)	338,135	2,388,306
Net cash inflow	(2,835,339)	6,380,765	5,521,646
VIEs
Current assets:
Cash and cash equivalents	19,142,721	20,651,502
Accounts receivable, net	8,572	252,215
Prepayments and other current assets	129,148	466,846
Deferred expenses	939,252	1,101,761
Amounts due from related parties	958,634	1,589,182
Total current assets	21,178,327	24,061,506
Non-current assets
Long-term investment	14,296,824	14,673,898
Goodwill		4,581,112
Property and equipment, net	6,620	10,597,581
Intangible assets, net		15,143,366
Total non-current assets	14,303,444	44,995,957
TOTAL ASSETS	35,481,771	69,057,463
Current liabilities:
Accounts payable	21,894	77,266
Taxes payable	8,488	127,645
Employee benefits payable	33,456	96,838
Deferred revenue-current	1,357,236	6,864,731
Other payables	104,738	5,104,380
Interest payable	202,405
Related party payables		44,107
Deferred tax liabilities		38,744
Total current liabilities	1,728,217	12,353,711
Non-current liabilities:
Long-term loans	13,681,099	14,809,302
Deferred revenue-noncurrent		3,713
Total non-current liabilities	13,681,099	14,813,015
TOTAL LIABILITIES	15,409,316	27,166,726
Revenue	10,250,708	23,050,619	29,168,546
Net income (loss)	(18,310,962)	1,750,836	8,436,207
Net cash provided by operating activities	148,162	9,390,282	13,927,170
Net cash used in investing activities	(529,511)	(18,530,989)	(12,864,697)
Net cash provided by financing activities		14,809,302
Effects of exchange rate changes on cash	(1,127,433)	266,364	1,722,356
Net cash inflow	(1,508,782)	$ 5,934,959	$ 2,784,829
VIEs | Asset not pledged as collateral
Non-current assets
TOTAL ASSETS	$ 0

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Summary of Significant Accounting Policies
Short-term lease, lease term	12 months
short-term lease, expense	$ 88,472	$ 90,748
Amortization of lease expenses	$ 146,597
Server hardware
Summary of Significant Accounting Policies
Estimated useful lives of property and equipment	5 years
Vehicles
Summary of Significant Accounting Policies
Estimated useful lives of property and equipment	5 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Estimated useful lives of Intangible assets (Details)	12 Months Ended
	Mar. 31, 2023
Software
Estimated useful lives of Intangible assets
Estimated useful lives of intangible assets	5 years
Courseware
Estimated useful lives of Intangible assets
Estimated useful lives of intangible assets	5 years
Copyrights
Estimated useful lives of Intangible assets
Estimated useful lives of intangible assets	5 years

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Ordinary Shares (Details) - USD ($)	Aug. 05, 2022	Sep. 01, 2021	Jul. 27, 2020	Mar. 31, 2023	Mar. 31, 2022	May 29, 2020	Apr. 22, 2020
Ordinary Shares
Authorized share capital						$ 100,000	$ 75,000
Number of shares authorized				500,000,000	500,000,000	500,000,000	500,000,000
Number of ordinary shares issued		2,900,000
Ordinary shares, par value				$ 0.0002	$ 0.0002		$ 0.00015
Ordinary shares outstanding		14,900,000		14,900,000	14,900,000	9,000,000	12,000,000
Issuance of ordinary shares for business combination (in shares)	791,667
IPO
Ordinary Shares
Number of ordinary shares issued			3,000,000
Ordinary shares, par value			$ 0.0002			$ 0.0002
Ordinary shares outstanding			12,000,000

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Additional information (Details)	12 Months Ended
	Mar. 31, 2023 USD ($) segment	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 CNY (¥)
Allowance for doubtful accounts
Allowance for doubtful accounts	$ 0	$ 0
Employee benefit expenses
Employee benefit expenses	104,283	92,264
Selling and marketing expenses:
Marketing and promotion costs	216,423	699,307
Research and development costs
Research and development costs capitalized	0	0	$ 0
Uncertain tax positions
Unrecognized Tax Benefits, Income Tax Penalties and Interest Expense	$ 0	$ 0
Value added tax ("VAT")
Value-added tax rate (in percent)	6%
Foreign currency translation
Year-end spot rate	6.8717	6.3482	6.5712	6.8717	6.3482
Average rate	6.8855	6.4083	6.7720	6.8855	6.4083
Segment reporting
Reportable segment | segment	1
Concentration of risks
RMB denominated cash and cash equivalents	$ 20,998,786	$ 23,834,125		¥ 19,791,079	¥ 21,206,372

Business Combination (Details)

Business Combination (Details)				12 Months Ended
	Aug. 05, 2022 shares	Jun. 06, 2022	Sep. 01, 2021 CNY (¥) shares	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Sep. 01, 2021 $ / shares
Business Combination
Issuance of ordinary shares as part of the acquisition (in shares) | shares	791,667
Net revenue				$ 11,323,744	$ 23,050,619	$ 29,168,546
Net income (loss)				(20,906,985)	(1,400,292)	$ 3,498,005
Wuxi Kingway Cloud Technology Co., Ltd [Member] | Shenzhen Jisen Information Tech Limited
Business Combination
Ownership interest transferred (in percent)		100%
Shenzhen Jisen Information Tech Limited
Business Combination
Percentage of ownership acquired							100%
Amount of business consideration | ¥			¥ 4,589,573
Issuance of ordinary shares as part of the acquisition (in shares) | shares			2,900,000
Share price of ordinary shares issued for business combination | $ / shares							$ 1.60
Net revenue				1,052,484	645,666
Net income (loss)				$ 450,145	$ 316,155
Shenzhen Jisen Information Tech Limited | Computer software copyrights
Business Combination
Estimated useful life of identifiable intangible assets acquired				5 years

Business Combination - Allocati

Business Combination - Allocation of the purchase price (Details)			12 Months Ended
	Aug. 05, 2022 shares	Sep. 01, 2021 CNY (¥) shares	Mar. 31, 2022 USD ($)	Mar. 31, 2023 USD ($)
Fair value of total consideration transferred:
Less: Cash acquired from business combination | $			$ (50,427)
Recognized amounts of identifiable assets acquired and liability assumed:
Goodwill | $			$ 4,581,112	$ 4,306,579
Issuance of ordinary shares as part of the acquisition (in shares) | shares	791,667
Shenzhen Jisen Information Tech Limited [Member]
Fair value of total consideration transferred:
Equity instrument (2.9 million common shares issued)		¥ 4,640,000
Less: Cash acquired from business combination		(50,427)
Recognized amounts of identifiable assets acquired and liability assumed:
Current assets		17,152
Intangible asset - computer software copyrights		175,854
Current liabilities		(140,581)
Deferred tax liabilities		(43,964)
Total identifiable net assets		8,461
Goodwill		¥ (4,581,112)
Issuance of ordinary shares as part of the acquisition (in shares) | shares		2,900,000

Cash and cash equivalents (Deta

Cash and cash equivalents (Details)	Mar. 31, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 CNY (¥)
Cash and cash equivalents
Cash on hand	$ 396		$ 429
Bank balances	20,998,172		23,833,460
Other monetary funds	218		236
Total	$ 20,998,786	¥ 19,791,079	$ 23,834,125	¥ 21,206,372

Accounts receivable, net (Detai

Accounts receivable, net (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Accounts receivable, net
Accounts receivable, gross	$ 458,104	$ 252,215
Accounts receivable, net	$ 458,104	$ 252,215

Prepayments and other current_3

Prepayments and other current assets (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Prepayments and other current assets
Prepaid service fees	$ 1,136,769	$ 1,309,069
Prepaid insurance fee		44,519
Prepaid income tax expenses		318,162
Total	$ 1,136,769	$ 1,671,750

Advance for investment (Details

Advance for investment (Details)	12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2023 CNY (¥)
Advance for investment	$ 1,902,004	$ 1,732,775
Total	$ 1,902,004	$ 1,732,775	¥ 13,070,000

Advance for investment - Additi

Advance for investment - Additional Information (Details)		1 Months Ended
	Aug. 05, 2022 shares	Jul. 31, 2023 USD ($) shareholder shares	Jul. 31, 2023 CNY (¥) shareholder shares	Mar. 31, 2023 USD ($)
Advance for investment
Cash deposit | $				$ 1,902,004
Subsequent Event | Wuxi Talent Home Information Technology Co. Ltd. [Member]
Advance for investment
Number of shareholders agreed to return shares to entity for cancellation | shareholder		2	2
Number of shares agreed to return by shareholders		791,667	791,667
Cash consideration		$ 1,902,004	¥ 13,070,000
Equity method investment, ownership percentage		35%	35%
Wuxi Talent Home Information Technology Co. Ltd. [Member]
Advance for investment
Shares issued to two shareholders as part of acquisition consideration	791,667
Wuxi Talent | Wuxi Talent Home Information Technology Co. Ltd. [Member]
Advance for investment
Ownership interest percentage in subsidiary				60%

Other receivables (Details)

Other receivables (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Other receivables
Others	$ 95,935	$ 33,059
Impairment	(61,120)
Total	$ 34,815	$ 33,059

Long-term investment (Details)

Long-term investment (Details)	1 Months Ended				12 Months Ended
	Jan. 31, 2022 USD ($)	Jan. 31, 2022 CNY (¥)	Aug. 31, 2021 USD ($)	Aug. 31, 2021 CNY (¥)	Mar. 31, 2023 USD ($)
Long-term investment
Balance as of March 31, 2022					$ 14,956,443
Share gain (loss) from equity investments					724,428
Impairment					(246,092)
Foreign currency translation adjustments					(1,137,955)
Balance as of September 30, 2022					14,296,824
Medical Star
Long-term investment
Balance as of March 31, 2022					282,545
Investments made			$ 308,385	¥ 2,000,000
Share gain (loss) from equity investments					(14,899)
Impairment					(246,092)
Foreign currency translation adjustments					(21,554)
Balance as of September 30, 2022
Fujian Fishery
Long-term investment
Balance as of March 31, 2022					14,673,898
Investments made	$ 14,809,302	¥ 94,012,410
Share gain (loss) from equity investments					739,327
Foreign currency translation adjustments					(1,116,401)
Balance as of September 30, 2022					$ 14,296,824

Long-term investment - Addition

Long-term investment - Additional information (Details)	1 Months Ended				12 Months Ended
	Jan. 31, 2022 USD ($) director	Jan. 31, 2022 CNY (¥) director	Aug. 31, 2021 USD ($) director	Aug. 31, 2021 CNY (¥) director	Mar. 31, 2023 USD ($)
Long-term investment
Loss on equity investment | $					$ (724,428)
Medical Star
Long-term investment
Cash consideration			$ 308,385	¥ 2,000,000
Equity method investment, ownership percentage			20%	20%
Loss on equity investment | $					14,899
Number of directors in board			7	7
Number of directors can be appointed			3	3
Voting power (in percent)			43%	43%
Fujian Fishery
Long-term investment
Cash consideration	$ 14,809,302	¥ 94,012,410
Equity method investment, ownership percentage	3%	3%
Loss on equity investment | $					$ (739,327)
Number of directors in board	5	5
Number of directors can be appointed	1	1
Voting power (in percent)	20%	20%

Goodwill (Details)

Goodwill (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Goodwill
Beginning balance	$ 4,581,112
Impairment	0	$ 0
Foreign currency translation adjustments	(274,533)
Ending balance	4,306,579	4,581,112
Jisen
Goodwill
Beginning balance	4,581,112
Foreign currency translation adjustments	(274,533)
Ending balance	$ 4,306,579	$ 4,581,112

Property and equipment, net (De

Property and equipment, net (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Property and equipment, net
Property and equipment, gross	$ 20,262,360	$ 21,933,281
Less: accumulated depreciation	(14,420,101)	(11,234,271)
Impairment	(5,760,944)
Property and equipment, net	81,315	10,699,010
Impairment to property, plant and equipment	5,749,384	0
Additions to property and equipment	0	775,594
Disposals of property and equipment	0	59,754
Depreciation expenses	4,033,569	4,185,532	$ 3,689,815
Server hardware
Property and equipment, net
Property and equipment, gross	20,050,414	21,703,857
Vehicles
Property and equipment, net
Property and equipment, gross	$ 211,946	$ 229,424

Intangible assets, net (Details

Intangible assets, net (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Intangible assets
Intangible assets, gross	$ 48,321,062	$ 52,302,731
Less: accumulated amortization	(39,999,028)	(36,970,335)
Less: impairment	(8,067,388)
Intangible assets, net	254,646	15,332,396
Impaired or pledged intangible assets	0	0
impairment loss of vocational education	8,051,199	0
Additions to intangible assets	0	2,043,862
Disposals to intangible assets	0	0
Amortization expenses	5,833,439	7,771,842	$ 6,651,329
Intangible assets, net
2024	72,602
2025	72,602
2026	72,602
2027	36,840
Total	254,646	15,332,396
Software
Intangible assets
Intangible assets, gross	5,610,547	6,073,217
Courseware
Intangible assets
Intangible assets, gross	30,443,609	32,954,121
Copyrights
Intangible assets
Intangible assets, gross	$ 12,266,906	$ 13,275,393

Operating right-of-use asset,_3

Operating right-of-use asset, net (Details)	12 Months Ended
	Mar. 31, 2023 USD ($)
Operating Right-of-use asset, net
Total right-of-use assets, at cost, increase (decrease)	$ 311,345
Total right-of-use assets, at cost	311,345
Accumulated amortization, increase (decrease)	(138,272)
Accumulated amortization, exchange rate translation	(277)
Less: accumulated amortization	(138,549)
Right-of-use assets, net, increase (decrease)	173,073
Right-of-use assets, net, exchange rate translation	(277)
Right-of-use assets, net	$ 172,796
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Cash and Cash Equivalents, at Carrying Value
Operating lease, right-of-use assets period (in years)	12 months
Shenzhen Wan
Operating Right-of-use asset, net
Total right-of-use assets, at cost, increase (decrease)	$ 211,765
Total right-of-use assets, at cost	$ 211,765
Operating lease, right-of-use assets period (in years)	2 years
Longcheng Car
Operating Right-of-use asset, net
Total right-of-use assets, at cost	$ 99,580
Operating lease, right-of-use assets period (in years)	14 months

Accounts payable (Details)

Accounts payable (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Accounts payable
Payable to a supplier of virtual simulation software	$ 21,894	$ 77,266
Total	$ 21,894	$ 77,266

Accrued expenses (Details)

Accrued expenses (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Accrued expenses
Accrued payroll	$ 844,331	$ 480,404
Accrued rental fee	2,265	77,777
Accrued promotion fee	9,368	51,252
Audit fee payable		20,000
Accrued Interest	202,405	219,097
Other	334	13,020
Total	$ 1,058,703	$ 861,550

Operating lease liability (Deta

Operating lease liability (Details)	Mar. 31, 2023 USD ($)
Operating lease liability
Operating Lease, Liability	$ 224,822
Shenzhen Wan
Operating lease liability
Operating Lease, Liability	138,492
Longcheng Car
Operating lease liability
Operating Lease, Liability	$ 86,330

Operating lease liability - Ana

Operating lease liability - Analyzed for reporting purpose (Details)	Mar. 31, 2023 USD ($)
Operating lease liability
Operating Lease Liability-current	$ 224,822
Total	$ 224,822

Operating lease liability - Mat

Operating lease liability - Maturity analysis of operating lease liabilities (Details)	Mar. 31, 2023 USD ($)
Operating lease liability
Discount rate at commencement	3.65%
One year	$ 228,022
Total	228,022
Total operating lease liabilities	224,822
Difference between undiscounted cash flows and discounted cash flows	$ 3,200

Operating lease liability - Add

Operating lease liability - Additional Information (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating lease liability
Operating lease payments	$ 136,256	$ 0
Discount rate	3.65%
Amortization of lease expenses	$ 138,272	0
Operating lease expense	$ 235,069	$ 90,748
Shenzhen Wan
Operating lease liability
Discount rate	3.65%
Weighted average remaining lease terms for operating leases	1 year
Longcheng Car
Operating lease liability
Discount rate	3.65%
Weighted average remaining lease terms for operating leases	9 months

Long-term loans (Details)

Long-term loans (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Long-term loans
Long-term loan	$ 13,681,099	$ 14,809,302

Long-term loans - Additional in

Long-term loans - Additional information (Details)	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Jan. 04, 2022 USD ($)	Jan. 04, 2022 CNY (¥)
Long-term loans
Long-term loans	$ 13,681,099	$ 14,809,302
Fujian Xinqiao Ocean Fishery Group Co
Long-term loans
Long-term loans			$ 13,681,099	¥ 94,012,410
Debt term			5 years	5 years
Interest rate			6%	6%

Revenue - Disaggregation of rev

Revenue - Disaggregation of revenue (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Revenue
Revenue	$ 11,323,744	$ 23,050,619	$ 29,168,546
Online VIP membership revenue
Revenue
Revenue	8,030,991	17,986,028	23,988,077
Online SVIP membership revenue
Revenue
Revenue	2,157,514	4,297,915	4,967,186
Technical service revenue
Revenue
Revenue	$ 1,135,239	$ 766,676	$ 213,283

Revenue - Contract balances (De

Revenue - Contract balances (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Revenue
Deferred revenue-current	$ 1,357,236	$ 6,864,731
Deferred revenue-noncurrent	3,430	3,713
Total	1,360,666	6,868,444
Revenue recognized from deferred revenue balance	$ 6,825,412	$ 11,456,667

Revenue (Details)

Revenue (Details)	Mar. 31, 2023 USD ($)
Revenue
Remaining performance obligations	$ 1,360,666
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-04-01
Revenue
Remaining performance obligations	$ 1,357,236
Remaining performance obligations, expected satisfaction period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-04-01
Revenue
Remaining performance obligations	$ 3,430
Remaining performance obligations, expected satisfaction period	12 months

Cost of revenue (Details)

Cost of revenue (Details) - USD ($)	12 Months Ended			53 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021	Mar. 31, 2023
Cost of revenue
Amortization expenses	$ 5,800,442	$ 7,751,161	$ 6,651,329
Depreciation expenses of server hardware	3,943,495	4,172,837	3,689,815
Website maintenance fee	1,510,417	2,746,431	1,565,281
Resource usage fees	1,510,417	1,622,891	1,407,768
Virtual simulation fee	555,560	1,106,713	1,279,050
Maintenance material consumption fees	1,918	15,458	39,425
Employee compensation	146,602	160,338
Employee benefit expenses	10,281	9,199
Impairment	13,800,583
Other	21,175	88,171	79,743
Total	27,300,890	17,673,199	$ 14,712,411
Institutions usage of resource validity period				5 years
Impairment to property, plant and equipment	5,749,384	$ 0
Impairment to intangible asset	$ 8,051,199

Operating expenses (Details)

Operating expenses (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Selling and marketing expenses:
Promotion expenses	$ 216,423	$ 699,307	$ 939,878
Telecommunications service fees	76,058	756,546	461,216
Union pay service charges	54,424	175,026	235,038
Employee compensation	98,045	141,038	159,216
Employee benefit expenses	19,259	22,593	11,784
Total Selling and marketing expenses	464,209	1,794,510	1,807,132
General and administrative expenses:
Employee compensation	1,977,184	2,569,912	2,620,776
Consulting fees	264,800	253,676	216,309
Audit fees	258,500	432,100	152,925
Insurance fee	44,519	171,895	151,890
Daily expenses	119,939	90,801	120,445
Attorney fee	429,087	272,887	94,666
Investment relationship fee	51,889	19,292	90,581
Rental fee	235,069	90,748	77,768
Employee benefit expenses	74,743	60,471	39,880
Depreciation expenses	90,074	12,695
Amortization of intangible assets	32,997	20,681
Entertainment	14,800	26,344	17,673
Other	65,932	122,799	71,536
Total General and administrative expenses	3,659,533	4,144,301	3,654,449
Operating expenses	$ 4,123,742	$ 5,938,811	$ 5,461,581
Short-term lease, lease term	12 months

Other income (expenses), net (D

Other income (expenses), net (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Other income (expenses), net
Waiver of rental fee payable	$ 157,757	$ 246,551
Loss on disposals of property and equipment		(54,512)
Other income (expenses), net	(11,929)	(10,222)	$ (8,553)
Total	$ 145,828	$ 181,817	$ (8,553)

Taxes Payable (Details)

Taxes Payable (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Current and deferred portions of income tax expense
Current	$ 431,161	$ 613,790
Deferred	(8,249)	(5,170)
Income tax expense	$ 422,912	$ 608,620	$ 3,479,303

Taxes Payable - Reconciliation

Taxes Payable - Reconciliation between statutory tax and income tax (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Effective of income tax reconciliation
Income before income taxes	$ (20,484,073)	$ (791,672)	$ 6,977,308
Tax rate	25%	25%	25%
Provision for income taxes at statutory tax rate	$ (5,121,018)	$ (197,918)	$ 1,744,327
Effect of tax-exempt entity	557,311	719,274	1,232,710
Effect of pervious year over-paid tax expenses	2,446	1,314	498,924
Effect of non-tax deductible expenses and loss	47	35,847	3,342
Effect of deductible prior year loss	(11,010)	(18,406)
Effect of tax loss not recognized	1,356,114	68,509
Effect of pervious year over-accrued tax expenses	293,334
Effect of investment income(loss)not recognized	(181,107)
Effect of impairment not recognized	3,526,795
Income tax expense	422,912	608,620	3,479,303
Deferred tax assets	4,892,726	68,345	1,686
Valuation allowance	(4,892,726)	(68,345)	$ (1,686)
Deferred tax liability	28,241	38,744
Deferred tax liabilities, net	$ 28,241	$ 38,744

Taxes Payable - Value added tax

Taxes Payable - Value added tax (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Taxes payable
Income tax payable	$ 211,046	$ 81,610
VAT payable	41,092	46,035
Other tax payables	6,245
Total	$ 258,383	$ 127,645

Taxes Payable - Additional info

Taxes Payable - Additional information (Details)	12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021	Mar. 31, 2019 HKD ($)	Mar. 31, 2018
Taxes payable
Statutory tax rate	25%	25%	25%
Assessable profits	$ 0	$ 0
Withholding tax rate	10%
Hongkong
Taxes payable
Statutory tax rate					16.50%
Hongkong | Assessable Profits up to HKD 2,000,000
Taxes payable
Statutory tax rate				8.25%
Assessable profits				$ 2,000,000
PRC
Taxes payable
Statutory tax rate	25%	25%
Non-academic educational services
Taxes payable
VAT rate	3%
Technical services
Taxes payable
VAT rate	6%	6%

Equity (Details)

Equity (Details) - USD ($)	Aug. 05, 2022	Sep. 01, 2021	Jul. 27, 2020	Mar. 31, 2023	Mar. 31, 2022	May 29, 2020	Apr. 22, 2020
Class of Stock [Line Items]
Amount of shares authorized						$ 100,000	$ 75,000
Number of shares authorized				500,000,000	500,000,000	500,000,000	500,000,000
Par value per share				$ 0.0002	$ 0.0002		$ 0.00015
Ordinary shares outstanding		14,900,000		14,900,000	14,900,000	9,000,000	12,000,000
Number of ordinary shares issued		2,900,000
Issuance of ordinary shares as part of the acquisition (in shares)	791,667
IPO [Member]
Class of Stock [Line Items]
Par value per share			$ 0.0002			$ 0.0002
Ordinary shares outstanding			12,000,000
Number of ordinary shares issued			3,000,000
Offering price			$ 5

Equity - Warrants (Details)

Equity - Warrants (Details) - USD ($)		1 Months Ended
	Mar. 08, 2022	Jul. 31, 2020	Jul. 31, 2023
Class of Stock [Line Items]
Number of warrants issued		150,000
Warrants to purchase ordinary shares		150,000
Maximum aggregate exercise price of warrants	$ 10,000,000
Exercise price of warrants		$ 6
Number of warrants exercised			0
Any part of the warrant that is exercised between March 8, 2022 and January 3, 2023
Class of Stock [Line Items]
Exercise price of warrants	$ 1.80
Maximum exercise of warrants without prior consent	$ 4,000,000
Any part of the warrant that is exercised between January 4, 2023 and January 3, 2024
Class of Stock [Line Items]
Exercise price of warrants	$ 2.50
Maximum exercise of warrants without prior consent	$ 7,000,000
Any part of the warrant that is exercised between January 4, 2024 and January 3, 2025
Class of Stock [Line Items]
Exercise price of warrants	$ 3
Maximum exercise of warrants without prior consent	$ 10,000,000

Related parties (Details)

Related parties (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Related Party Transaction
Related party payables	$ 54,588	$ 46,649
Xiaofeng Gao [Member]
Related Party Transaction
Equity method investment, ownership percentage	25.10%
Xiaofeng Gao
Related Party Transaction
Related party payables	$ 2,199	2,542
Expense paid by Xiaofeng Gao	3,178	2,443
Repayment to related party	3,514	256,972
Xuejun Ji
Related Party Transaction
Related party payables	11,642
Bin Fu
Related Party Transaction
Related party payables	40,747	44,107
Repayment to related party		7,802
Amounts received		$ 43,693
Medical Star
Related Party Transaction
Sales to related parties	$ 45,762

Commitments and Contingencies_2

Commitments and Contingencies (Details)	12 Months Ended
	Mar. 31, 2023 USD ($)	Mar. 31, 2022 USD ($)	Mar. 30, 2023 USD ($)	Mar. 30, 2023 SGD ($)
Commitments and Contingencies
Operating lease expense	$ 235,069	$ 90,748
Future minimum payments for period greater than one year	0
April 2023 to March 2024	250,142
April 2024 to March 2025	14,370
Total	$ 264,512
LE FIRST SKILLAND PTE. LTD.,
Commitments and Contingencies
Ownership interest percentage in subsidiary			75%	75%
Capital contribution			$ 282,463	$ 375,000

Subsequent events (Details)

Subsequent events (Details)						12 Months Ended
	Jul. 21, 2023 shares	Apr. 03, 2023 USD ($) $ / shares shares	Mar. 03, 2023 USD ($) D $ / shares	Jan. 28, 2022 USD ($) $ / shares shares	Jan. 28, 2022 CNY (¥) shares	Mar. 31, 2023 USD ($) $ / shares shares	Mar. 31, 2023 CNY (¥) shares	Jun. 28, 2023	Mar. 31, 2022 USD ($) $ / shares	Apr. 22, 2020 $ / shares
Subsequent events
Common Stock, Value, Issued | $						$ 2,980			$ 2,980
Additional paid-in capital | $						$ 19,055,407			$ 18,055,407
Par value per share | $ / shares						$ 0.0002			$ 0.0002	$ 0.00015
Equity transfer agreement | Wuxi Talent
Subsequent events
Percentage of interest acquired				60%
Cash payment amount				$ 2,182,866	¥ 15,000,000	$ 1,902,004	¥ 13,070,000
Issuance of shares (in shares) | shares				791,667	791,667	791,667	791,667
Stock price | $ / shares				$ 3
Issuance of shares | $						$ 2,375,001
One-year convertible bond
Subsequent events
Original principal amount | $			$ 1,000,000
Annual interest rate percentage			7%
Maturity period			360 days
Threshold consecutive days | D			5
Conversion price | $ / shares			$ 1.82
Conversion price per share | $ / shares			$ 1.82
Subsequent events
Subsequent events
Common Stock, Value, Issued | $		$ 110
Additional paid-in capital | $		$ (110)
Subsequent events | Common Stock [Member]
Subsequent events
Conversion price | $ / shares		$ 1.82
Shares issued | shares		549,451
Total conversion amount | $		$ 1,000,000
Conversion price per share | $ / shares		$ 1.82
Par value per share | $ / shares		$ 0.0002
Subsequent events | Equity transfer agreement | All Parties [Member]
Subsequent events
Percent of ownership after transfer	35%
Subsequent events | Equity transfer agreement | Wuxi Talent
Subsequent events
Number of shares cancelled | shares	791,667
Subsequent events | Wuxi Kingway Cloud Technology Co., Ltd
Subsequent events
Ownership interest percentage								40%

Condensed financial informati_3

Condensed financial information of the Company - Condensed balance sheets (Details)	Mar. 31, 2023 USD ($)	Mar. 31, 2023 CNY (¥)	Mar. 31, 2022 USD ($)	Mar. 31, 2022 CNY (¥)	Mar. 31, 2021 USD ($)
Current assets:
Cash and cash equivalents	$ 20,998,786	¥ 19,791,079	$ 23,834,125	¥ 21,206,372
Prepayments and other current assets	1,136,769		1,671,750
TOTAL ASSETS	43,642,638		73,092,885
Current liabilities:
TOTAL LIABILITIES	16,688,396		22,829,600
SHAREHOLDERS' EQUITY:
Ordinary shares, par value $0.0002 per share, 500,000,000 shares authorized; 14,900,000 shares issued and outstanding as of March 31, 2023 and 2022, respectively	2,980		2,980
Additional paid-in capital	19,055,407		18,055,407
Statutory reserve	745,590		745,590
Accumulated profits	8,111,900		29,018,885
Accumulated other comprehensive income/(loss)	(961,635)		2,440,423
TOTAL SHAREHOLDERS' EQUITY	26,954,242		50,263,285		$ 45,565,172
Parent company | Reportable legal entities
Current assets:
Cash and cash equivalents	1,198,204		2,622,624
Deferred expenses	46,500		48,624
Prepayments and other current assets			148,355
Amounts due from subsidiaries and VIE	3,766,314
Investment in subsidiaries and VIE	22,721,204		48,796,630
TOTAL ASSETS	27,732,222		51,616,233
Current liabilities:
Amounts due to related parties	2,107		2,443
Amounts due to subsidiaries and VIE			967,522
Other payables	775,873		382,983
TOTAL LIABILITIES	777,980		1,352,948
SHAREHOLDERS' EQUITY:
Ordinary shares, par value $0.0002 per share, 500,000,000 shares authorized; 14,900,000 shares issued and outstanding as of March 31, 2023 and 2022, respectively	2,980		2,980
Additional paid-in capital	19,055,407		18,055,407
Statutory reserve	745,590		745,590
Accumulated profits	8,111,900		29,018,885
Accumulated other comprehensive income/(loss)	(961,635)		2,440,423
TOTAL SHAREHOLDERS' EQUITY	$ 26,954,242		$ 50,263,285

Condensed financial informati_4

Condensed financial information of the Company - Condensed balance sheets (parenthetical) (Details) - $ / shares	Mar. 31, 2023	Mar. 31, 2022	Sep. 01, 2021	May 29, 2020	Apr. 22, 2020
Condensed financial information of the Company
Ordinary shares, par value	$ 0.0002	$ 0.0002			$ 0.00015
Ordinary shares, shares authorized	500,000,000	500,000,000		500,000,000	500,000,000
Ordinary shares, shares issued	14,900,000	14,900,000
Ordinary shares, shares outstanding	14,900,000	14,900,000	14,900,000	9,000,000	12,000,000
Reportable legal entities | Parent company
Condensed financial information of the Company
Ordinary shares, par value	$ 0.0002	$ 0.0002
Ordinary shares, shares authorized	500,000,000	500,000,000
Ordinary shares, shares issued	14,900,000	14,900,000
Ordinary shares, shares outstanding	14,900,000	14,900,000

Condensed financial informati_5

Condensed financial information of the Company - Condensed statements of income (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Condensed statements of income
General and administrative expenses	$ (3,659,533)	$ (4,144,301)	$ (3,654,449)
Investment loss, net	724,428	(166,334)	(2,436,809)
Share gain (loss) from equity investments	724,428
Income before income tax provision	(20,484,073)	(791,672)	6,977,308
Provision for income tax	422,912	608,620	3,479,303
Net (Loss) / profit	(20,906,985)	(1,400,292)	3,498,005
Reportable legal entities | Parent company
Condensed statements of income
General and administrative expenses	(2,226,956)	(2,790,459)	(2,493,845)
Investment loss, net			(2,436,809)
Share gain (loss) from equity investments	(18,678,368)	1,476,806	8,428,844
Others, net	(1,661)	(86,639)	(185)
Income before income tax provision	(20,906,985)	(1,400,292)	3,498,005
Net (Loss) / profit	$ (20,906,985)	$ (1,400,292)	$ 3,498,005

Condensed financial informati_6

Condensed financial information of the Company - Condensed cash flow (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Condensed statements of income
Net cash used in operating activities	$ (2,558,438)	$ 4,828,933	$ 10,754,484
Net cash generated from (used in) investing activities	(300,631)	(13,595,605)	(20,864,698)
Net cash generated from financing activities	1,000,000	14,809,302	13,243,554
Net cash inflow(outflow)	(2,835,339)	6,380,765	5,521,646
Parent company | Reportable legal entities
Condensed statements of income
Net cash used in operating activities	(1,779,420)	(3,157,114)	(2,506,846)
Net cash generated from (used in) investing activities	(645,000)	3,043,030	(8,000,000)
Net cash generated from financing activities	1,000,000		13,243,554
Net cash inflow(outflow)	$ (1,424,420)	$ (114,084)	$ 2,736,708

Condensed financial informati_7

Condensed financial information of the Company - Condensed statements of comprehensive income (Details) - USD ($)	12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Mar. 31, 2021
Condensed statements of comprehensive income
Net income (loss)	$ (20,906,985)	$ (1,400,292)	$ 3,498,005
Comprehensive income (loss)	(24,309,043)	58,113	5,886,311
Reportable legal entities | Parent company
Condensed statements of comprehensive income
Net income (loss)	(20,906,985)	(1,400,292)	3,498,005
Other comprehensive income (loss)	(3,402,058)	1,458,405	2,388,306
Comprehensive income (loss)	$ (24,309,043)	$ 58,113	$ 5,886,311