Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 110

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 5
Chunk 110
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 to capital contributions of net proceeds $3.00 million from issuance of new ordinary shares.

Capital Expenditures

Our capital expenditures consist primarily of expenditures for the construction of facilities, purchase of fixed assets and intangible assets as a result of our business growth. No capital expenditures was incurred for the years ended March 31, 2025, 2024 and 2023.

Related Party Transactions

In addition to the executive officer compensation arrangements discussed in “ Executive Compensation,” below we describe transactions since April 1, 2024, to which we have been a participant, in which the amount involved in the transactions is material to us or the related party.

On September 30, 2024, we signed a promissory note purchase agreement with Ms. Minzhu Xu, who is the chairperson of the Company’s board of directors. Pursuant to the Purchase Agreement, we issued an 8% promissory note with principal amount of $500,000 to Ms. Xu on September 30, 2024, the closing date of this transaction. The Note will mature in 12 months after its issuance and can be pre-paid in part or in whole by us prior to its maturity date.

On May 20, 2024, we signed a promissory note purchase agreement with Ms. Minzhu Xu. Pursuant to the Purchase Agreement, we issued an 8% promissory note with principal amount of $750,000 to Ms. Xu on May 20, 2024, the closing date of this transaction. The Note will mature in 12 months after its issuance and can be pre-paid in part or in whole by us prior to its maturity date.

On January 13, 2025, we signed a promissory note purchase agreement with Ms. Minzhu Xu. Pursuant to the Purchase Agreement, we issued an 8% promissory note with principal amount of $450,000 to Ms. Xu on January 13, 2025. The Note will mature in 12 months after its issuance and can be pre-paid in part or in whole by us prior to its maturity date.

The above-mentioned proceeds from the Note Offering will be used for the general working capital purposes of us.

There was no other material related party transaction as of March 31, 2025 and 2024.

Future Related Party Transactions

We will apply all rules about related party transactions as a listing company, and the Corporate Governance Committee of our Board of Directors (