Company: ATMCW
Filing Date: 2025-11-17
Form Type: DEFM14A
Source: 0001493152-25-023842
Chunk: 328

Company: ALPHATIME ACQUISITION CORP
Filing Date: 2025-11-17
Form: DEFM14A
Chunk 328
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 of the cost of commissions paid to the referrers. Our cost of revenues was $4,917,031 for the year ended March 31, 2025, an decrease of $4,563,455 from $9,480,486 for the same period of 2024. The decrease was due to the decrease in the number of policies sold to externally referred buyers, causing us paying less referral fees to independent agents. In this regard, the number of first-year policy referral purchases increased from 1154 for the year ended March 31, 2024 to 386 for the year ended March 31, 2025.

Our cost of revenues accounted for 83.6% and 87.1% of our total revenue for the fiscal years ended March 31, 2025 and 2024, which remained relatively consistent.

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Gross Profit

Gross profit was $961,521 for the fiscal year ended March 31, 2025, compared to $1,407,344 for the same period of 2024. The increase was primarily due to an increase in the policies buyers referred by independent agents.

Compensation and benefits

Our compensation and benefits primarily include salary, bonus and employee defined benefits paid to the Company’s employees.

Our compensation and benefits were $718,300 for the year ended March 31, 2025 compared to $497,856 for the same period of 2024. The increase of $220,444 was primarily due to performance bonuses paid to employees for the 2024 calendar year.

General and Administrative Expenses

The following table sets forth a breakdown by nature of our general and administrative expenses for the years indicated, in absolute amounts and as a percentage of our net revenue.

|                                           |     | For years ended March 31, |           |     |   |      |     |      |         |     |   |     |
|                                           |     |                      2025 |           |     |   |      |     | 2024 |         |     |   |     |
|                                           |     |                       US$ |           |     | % |      |     |  US$ |         |     | % |     |
| Professional service fees                 |     |                           |   678,665 |     |   | 11.5 |     |      | 576,768 |     |   | 5.3 |
| Rental                                    |     |                           |   131,857 |