| RELATED PARTIES |
NOTE 24 — RELATED PARTIES
| (1) | Nature of relationship with related parties |
| Name | | Relationship with the Group | | Mr. Lap Sun Wong | | Chairman of the Board of Directors the Company | | Mr. Zhifang Zhang | | A former Director | | Wing Hong Pharmaceutical Limited | | A company is controlled by one Director of the Company | | Hong Kong Hao Le Ku Limited | | A company was controlled by COO of the Company * | | Billion Built International Limited | | A company is controlled by the Chairman of the Company | | Fame overseas Supply Chain Limited | | A company is controlled by the Chairman of the Company | | Ms. Liying Wang | | Ultimate controlling person | | Mr. Liang Chenyu | | A Director of the Company | | LS International Holdings Limited | | A company was controlled by two Directors of the Company ** | | My Brand Management Limited | | A company is controlled by the Chairman of the Company | | HongKong Profit Fields Group Limited | | A company was a minority shareholder of the Company ** | | Hangzhou Liku Electronic Commercial Co., Ltd. | | A company was controlled by son of the Chairman of the Company ** |
| * | From January 9, 2024, Hong Kong Hao Le Ku Limited was not a related party of the Company. | | ** | Upon IPO, these companies were not related parties of the Company. | | (2) | Significant receivables/(payables), on a net basis, between the Group and the above related parties: |
| Name | |
As at
March 31,
2026 | | |
As at
March 31,
2025 | |
| Wing Hong Pharmaceutical Limited | |
$ | 20,932 | | |
$ | 80 | |
| Fame overseas Supply Chain Limited | |
| - | | |
| 5,814 | |
| Billion Built International Limited | |
| - | | |
| 51,415 | |
| Total | |
$ | 20,932 | | |
$ | 57,309 | |
| Name | |
As at
March 31,
2026 | | |
As at
March 31,
2025 | |
| Mr. Lap Sun Wong | |
$ | (665,462 | ) | |
$ | (115 | ) |
| Mr. Zhifang Zhang | |
| - | | |
| (1,198 | ) |
| Liang Chenyu | |
$ | (3,061 | ) | |
$ | - | |
| Liying Wang | |
| (315,845 | ) | |
| | |
| | |
$ | (984,368 | ) | |
$ | (1,313 | ) |
Related parties receivables/(payables) were unsecured,
non-interest bearing and repayment on demand.
The above related parties receivables/(payables)
did not include the loans as disclosed in Note 29
| (3) | Significant related parties transactions between the Group and the above related parties for the year ended March 31, 2026: |
| Name | | Sales to | | | Paid on
behalf | | | Purchase
from | | | Loan
from | | | Mr. Lap Sun Wong | | $ | — | | | $ | — | | | $ | — | | | $ | 1,786,430 | | | Ms Liying Wang | | | — | | | | 16,000 | | | | — | | | | — | | | Billion Built International Limited | | | — | | | | — | | | | 66,788 | | | | — | | | Wing Hong Pharmaceutical Limited | | | 40,944 | | | | 292 | | | | — | | | | — | | | Fame overseas Supply Chain Limited | | $ | — | | | $ | — | | | $ | — | | | $ | — | |
| (4) | Significant related parties transactions between the Group and the above related parties for the year ended March 31, 2025: |
| Name | |
Sales to | | |
Paid on
behalf | | |
Purchase
from | | |
Loan
from | |
| Mr. Lap Sun Wong | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | 248,023 | |
| Mr. Zhifang Zhang | |
| — | | |
| — | | |
| — | | |
| 571,152 | |
| Billion Built International Limited | |
| — | | |
| — | | |
| — | | |
| — | |
| Wing Hong Pharmaceutical Limited | |
| — | | |
| 138 | | |
| — | | |
| — | |
| Fame overseas Supply Chain Limited | |
$ | — | | |
$ | 2,281 | | |
$ | — | | |
$ | — | |
| (5) |
Significant related parties transactions between the Group and the above related parties for the year ended March 31, 2024: |
| Name | |
Sales to | | |
Purchase
from | | |
Loan to | | |
Loan
from | |
| Mr. Lap Sun Wong | |
$ | — | | |
$ | — | | |
$ | — | | |
$ | 243,427 | |
| Mr. Zhifang Zhang | |
| — | | |
| — | | |
| — | | |
| 124,889 | |
| LS International Holdings Limited | |
| — | | |
| — | | |
| 3,025 | | |
| — | |
| My Brand Management Limited | |
| — | | |
| — | | |
| 876 | | |
| — | |
| Billion Built International Limited | |
| — | | |
| — | | |
| 24,282 | | |
| — | |
| Wing Hong Pharmaceutical Limited | |
| 36,628 | | |
| — | | |
| 140,489 | | |
| — | |
| HongKong Hao Le Ku Limited | |
| — | | |
| 306,948 | | |
| — | | |
| 399,954 | |
| HongKong Profit Fields Group Limited | |
| — | | |
| 28,662 | | |
| — | | |
| — | |
| Hangzhou Liku Electronic Commercial Co., Ltd. | |
$ | — | | |
| 237,777 | | |
| — | | |
| — | |
| Fame overseas Supply Chain Limited | |
| — | | |
$ | — | | |
$ | 3,510 | | |
$ | — | |
|