Company: AOAO
Filing Date: 2025-07-30
Form Type: S-1/A
Source: 0001641172-25-021532
Chunk: 20

Company: Alpha One Inc.
Filing Date: 2025-07-30
Form: S-1/A
Chunk 20
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 that respect, in their ability to transfer a portion of their net assets to the Company as a dividend. As of March 31, 2025 and 2024, our PRC operating subsidiary’s net restricted assets were $2,898,391 (equivalent to RMB21,044,182) and $2,961,361 (equivalent to RMB21,381,980) respectively.

| 6 |

The following table describes transfers among us and our subsidiaries made during the periods presented:

|                                                                                  |     | For the years 
         ended 
      March 31 |   |     |      |   |
|                                                                                  |     |          2025 |   |     | 2024 |   |
|                                                                                  |     |           RMB |   |     |  RMB |   |
| Capital contributions from us to our offshore subsidiaries (1)                   |     |               | - |     |      | - |
| Loans from us to our offshore subsidiaries                                       |     |               | - |     |      | - |
| Capital contributions from our offshore subsidiaries to PRC operating subsidiary |     |               | - |     |      | - |
| Loans from our PRC operating subsidiaries to our offshore subsidiaries           |     |               | - |     |      | - |
| Other amounts paid by our WFOE on our behalf of our offshore subsidiaries (2)    |     |               | - |     |      | - |

| (1) | “Offshore                                                                        
 subsidiaries” refer to all of our subsidiaries except our PRC subsidiary.        |
| (2) | Cash                                                                             
 paid by our PRC operating subsidiary to our Hong Kong subsidiaries for expenses. |

As of the date of this prospectus, our Wyoming holding
company Alpha One Inc., has not declared or paid dividends, made distributions, or transferred assets to its subsidiaries in the past,
nor have any dividends, distributions or asset transfers been made by any our PRC Subsidiaries to Zhongyun HK, Zhongyun BVI or the Wyoming
holding company. For the years ended March 31, 2025 and 2024 there was no cash transfer among our Wyoming holding
company, Zhongyun BVI, Zhongyun HK and our PRC Subsidiary. Wyoming holding company’s expenses paid by the solely director Shuhua
Liu for the years ended March 31, 2025 and 2024. We do not have any current plan to