Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 107

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 5
Chunk 107
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 year ended March 31, 2023, increased by $267,354. The increasing was primarily attribute to the goodwill impairment recorded for 2lab3.

Interest expense

Our interest expense of $39,167 for the fiscal year ended March 31, 2024 increased by $39,167 or 100.00%, compared with interest expense of $0 for the fiscal year ended March 31, 2023. The increase was mainly due to the increase of an unsecured loan payable to the third party, bearing a fixed interest rate of 8%.

Other Income, net

Our other income of $19,915 for the fiscal year ended March 31, 2024 increased by $297,203 or 107.18% compared with other expense of $277,288 for the fiscal year ended March 31, 2023. The increase was primarily due to the higher amount of the disposal of equipment and exchange gain for the fiscal year ended March 31, 2023.

Net loss from continuing operations

Our net loss from continuing operations for the fiscal year ended March 31, 2024 was $4,289,195, representing an increase of $9,319, compared with net loss from continuing operations of $4,279,876 for the fiscal year ended March 31, 2023. Net loss from continuing operations remained relatively unchanged between the two fiscal years.

Net loss from discontinued operations

Our net loss from discontinued operations for the fiscal year ended March 31, 2024 was $5,638,129, representing an decrease of $62,269,111, compared with net loss from discontinued operations of $67,907,240 for the fiscal year ended March 31, 2023. The decreasing was primarily due to the reason that we generated $7,547,428 in gain on disposal of discontinued operations for the fiscal year ended March 31, 2024 by sale of the business of the nutraceutical and dietary supplements (healthcare products), e-commerce, internet information and advertising with cash consideration of $11,664,348 received for the fiscal year ended March 31, 2024. It also having positive influence of the business strategy structure optimization of the businesses of the nutraceutical and dietary supplements (healthcare products), e-commerce, internet information and advertising for the fiscal year ended March 31, 2024 and 2023.

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Net loss

As a result of the factors described