Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 109

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 5
Chunk 109
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 operating activities from discontinued operations for approximately $0.30 million. Net cash used in operating activities for the year ended March 31, 2024 was approximately $13.11 million, which was primarily attributable to a net loss approximately $9.93 million, adjusted for non-cash items for approximately $5.28 million, adjustments for changes in working capital approximately $1.06 million and net cash provided by operating activities from discontinued operations for approximately $3.16 million. Net cash provided by operating activities for the year ended March 31, 2023 was approximately $20.71 million, which was primarily attributable to a net loss approximately $72.19 million adjusted for non-cash items for approximately $3.01 million, adjustments for changes in working capital approximately $0.01 million and net cash provided by operating activities from discontinued operations for approximately $54.48 million.

The decrease in the year ended March 31, 2025 was mainly due to the business strategy adjustment in loss-making subsidiaries.

Investing Activities

Net cash used in investing activities was $27.05 million for the year ended March 31, 2025, and net cash provided by investing activities were $11.70 million and $0.09 million for the year ended March 31, 2024 and 2023, respectively. For the year ended March 31, 2025, the cash used was primarily attributable to the purchase of 51% equity interest in Bomie Wookoo Inc. For the year ended March 31, 2024, the result was mainly generated from the cash consideration from the disposal of the discontinued operation of approximately $11.70 million. For the year ended March 31, 2023, the result was primarily attributable to the disposal of equipment generated from the discontinued subsidiaries.

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Financing Activities

Net cash provided by financing activities was approximately $29.01 million, $0 and $3.15 million for the year ended March 31, 2025, 2024 and 2023, respectively. Net cash provided by financing activities from continuing operations for the year ended March 31, 2025 was primarily generated from the proceeds amounted to $27.00 million of the offering of 60,000,000 Class A Ordinary Shares and increase of the amount due to the related party amounted to $1.85 million. Net cash provided by financing activities for the year ended March 31, 2023 was mainly attributable