Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 104

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 5
Chunk 104
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 10.00%, compared with $0 for the fiscal year ended March 31, 2024. The gross margin ratio of us was 12.60% for the fiscal year ended March 31, 2025.

Selling and Marketing Expenses

We incurred $1,445 in selling and marketing expenses for the fiscal year ended March 31, 2025, representing an increase of $1,351 or 1,437.23%, compared with $94 for the fiscal year ended March 31, 2024. Selling and marketing expenses remained stable in fiscal 2025 compared to fiscal 2024.

General and Administrative Expenses

We incurred $2,306,613 in general and administrative expenses for the fiscal year ended March 31, 2025, representing a decrease of $155,388 or 6.31%, compared with $2,462,001 for the fiscal year ended March 31, 2024. The decrease was primarily attributable to the decreased headcount and service fee result from the business strategy structure optimization.

Goodwill impairment

We recognized $3,376,186 in goodwill impairment for the fiscal year ended March 31, 2025, representing an increase of $1,568,338 or 86.75%, compared with $1,807,848 for the fiscal year ended March 31, 2024. The increase was primarily due to failure to reach the projected performance of the AI-powered application developed by 2lab3. We have assessed and recorded the goodwill impairment of acquired 2lab3 amounted to $3,376,186 as of March 31, 2025.

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Intangible asset impairment

We recognized $1,108,333 in intangible asset impairment for the fiscal year ended March 31, 2025, representing a increase of $1,108,333 or 100.00%, compared with $0 for the fiscal year ended March 31, 2024. The increase was primarily due to failure to reach the projected performance. We have assessed and recorded the intangible asset impairment of acquired 2lab3 amounted to $1,108,333 as of March 31, 2025.

Operating loss

As a result of the factors described above, our operating loss was $6,783,561 for the fiscal year ended March 31, 2025, compared with operating loss of $4,269,943 for the fiscal year ended March 31,