$ELOG

Eastern International Ltd.

CIK:0002013320|SEC Filings

Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)	12 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
Defined Benefit Plan Disclosure [Line Items]
Total revenues	$ 45,631,772	$ 40,041,691	$ 40,443,629
Total cost of revenues	41,388,919	34,041,850	35,424,962
Gross profit	4,242,853	5,999,841	5,018,667
Operating expenses:
Selling expenses	916,901	774,484	712,338
General and administrative expenses	4,386,440	2,958,148	2,871,937
Total operating expenses	5,303,341	3,732,632	3,584,275
(Loss) Income from Operations	(1,060,488)	2,267,209	1,434,392
Other income (expenses):
Interest expenses	(287,422)	(143,602)	(97,552)
Interest income	8,528	790	2,644
Foreign currency transaction (loss) gain	(1,711)	215	19,600
Gain on disposal of property and equipment		40,620	5,562
Government subsidies	124,794	16,642	27,202
Insurance indemnity	135,894	171,718	128,442
Other income, net	67,702	17,542	15,199
Total other income, net	47,785	103,925	101,097
(Loss) Income Before Income Taxes	(1,012,703)	2,371,134	1,535,489
Income taxes expenses	(139,400)	(591,108)	(451,789)
Net (Loss) Income	(1,152,103)	1,780,026	1,083,700
Other Comprehensive Income (Loss)
Foreign currency translation adjustment	457,048	(65,437)	(475,894)
Comprehensive (Loss) Income	$ (695,055)	$ 1,714,589	$ 607,806
(Loss) Earnings Per Share
-Basic	$ (0.10)	$ 0.17	$ 0.11
-Diluted	$ (0.10)	$ 0.16	$ 0.10
Weighted Average Shares Outstanding
-Basic	11,398,479	10,417,000	10,044,434
-Diluted	11,398,479	11,417,000	11,044,434
Third Parties [Member]
Defined Benefit Plan Disclosure [Line Items]
Total revenues	$ 45,377,977	$ 39,706,093	$ 40,161,065
Total cost of revenues	41,370,604	34,033,269	35,424,388
Related Party [Member]
Defined Benefit Plan Disclosure [Line Items]
Total revenues	253,795	335,598	282,564
Total cost of revenues	$ 18,315	$ 8,581	$ 574

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2026	Mar. 31, 2025	Mar. 31, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) income	$ (1,152,103)	$ 1,780,026	$ 1,083,700
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Depreciation	131,180	88,722	115,150
Provision for expected credit losses	128,235	76,755	93,188
Gain on disposal of property and equipment		(40,620)	(5,562)
Share-based compensation	816,950
Amortization of restricted shares of a subsidiary		1,400	8,087
Deferred income taxes	(28,770)	(2,932)	(7,427)
Changes in operating assets and liabilities:
Notes receivable	(525,896)	(208,095)	(954,131)
Accounts receivable - third parties	(824,718)	(1,364,222)	(3,032,632)
Accounts receivable - related parties	74,225	(291,509)	372,877
Contract assets	(2,520)	115,529	(136,705)
Contract assets - a related party	(2,323)
Advances to suppliers	(712,122)	27,278	204,771
Other current assets	(2,598,760)	(866,022)	(543,037)
Other non-current assets	(402,794)	(1,165,934)	(197,335)
Accounts payable - third parties	(539,704)	(220,778)	1,626,197
Accounts payable - related party			(59,699)
Contract liabilities	3,020,520	(123,294)	32,276
Income taxes payable	(173,400)	293,220	334,544
Lease liabilities	18,886	(146,215)
Other current liabilities	195,688	(112,017)	435,977
Net cash used in operating activities	(2,577,426)	(2,158,708)	(629,761)
CASH FLOWS FROM INVESTING ACTIVITIES
Additions to property and equipment	(878,949)	(397,441)	(7,433)
Proceeds from disposal of property and equipment		59,657	51,681
Net cash (used in) provided by investing activities	(878,949)	(337,784)	44,248
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from bank and other borrowings	7,253,552	5,051,065	4,463,451
Repayments of bank and other borrowings	(5,698,992)	(3,258,829)	(3,012,373)
Repayments to related parties	(208,135)	(196,468)
Borrowings from related parties			126,766
Net IPO proceeds received from the underwriter	5,727,070
Contribution from shareholders			834,000
Withholding tax paid on the dividends declared			(161,493)
Deferred offering costs	(1,237,842)	(419,470)	(402,097)
Net cash provided by financing activities	5,835,653	1,176,298	1,848,254
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND RESTRICTED CASH	67,885	(3,856)	(55,378)
NET INCREASE (DECREASE) IN CASH AND RESTRICTED CASH	2,447,163	(1,324,050)	1,207,363
CASH AND RESTRICTED CASH, BEGINNING OF YEAR	846,409	2,170,459	963,096
CASH AND RESTRICTED CASH, END OF YEAR	3,293,572	846,409	2,170,459
Reconciliation of cash and restricted cash, end of year
Cash	3,054,870	846,409	2,170,459
Restricted cash	238,702
CASH AND RESTRICTED CASH, END OF YEAR	3,293,572	846,409	2,170,459
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION:
Cash paid for income tax	333,902	324,307	176,886
Cash paid for interest	287,422	143,602	97,552
Supplemental non-cash activities:
Initial recognition of lease obligations related to right-of-use assets	91,205	1,894,422	29,269
Early terminated operating lease right of use assets		2,296,658	552,651
Dividends payable used to offset against related party balances	$ 466,924

Consolidated Balance Sheets - USD ($)	Mar. 31, 2026	Mar. 31, 2025
Current assets:
Cash	$ 3,054,870	$ 846,409
Restricted cash	238,702
Notes receivable	2,440,449	1,805,140
Advances to suppliers, net	1,017,547	286,507
Amount due from a related party		136,416
Other current assets, net	4,917,916	2,253,850
Total current assets	27,096,578	19,680,929
Non-Current assets:
Property, plant and equipment, net	1,255,061	461,205
Operating lease right of use assets, net	1,464,823	1,795,668
Deferred offering costs		881,862
Deferred tax assets, net	72,699	40,949
Other non-current assets	2,390,660	1,920,878
Total non-current assets	5,183,243	5,100,562
Total assets	32,279,821	24,781,491
Current liabilities:
Bank and other borrowings, current	5,038,996	3,766,634
Accounts payable	4,575,704	4,877,717
Contract liabilities	3,233,089	117,191
Amounts due to related parties		203,695
Operating lease liabilities, current	618,229	451,363
Income taxes payable	715,998	850,308
Dividends payable	647,061	1,072,040
Other current liabilities	1,019,455	777,550
Total current liabilities	15,848,532	12,116,498
Non-current liabilities:
Bank and other borrowings, non-current	524,016
Operating lease liabilities, non-current	713,078	1,198,905
Total non-current liabilities	1,237,094	1,198,905
Total liabilities	17,085,626	13,315,403
Commitments and contingencies (Note 17)
Shareholders’ equity:
Preferred shares, par value $0.0001 each, 50,000,000 shares authorized, 1,000,000 issued and outstanding as of March 31, 2026 and 2025	100	100
Ordinary Shares, par value $0.0001 each, 450,000,000 shares authorized, 12,832,000 and 10,417,000 issued and outstanding as of March 31, 2026 and 2025, respectively	1,284	1,042
Additional paid-in capital	12,463,308	8,040,388
Statutory reserve	962,302	888,085
Retained earnings	1,993,488	3,219,808
Accumulated other comprehensive loss	(226,287)	(683,335)
Total Shareholders’ Equity	15,194,195	11,466,088
Total liabilities and shareholders’ equity	32,279,821	24,781,491
Third Parties [Member]
Current assets:
Accounts receivable	15,077,876	13,679,559
Contract assets	35,951	31,709
Related Party [Member]
Current assets:
Accounts receivable	310,875	641,339
Contract assets	$ 2,392