Company: PAVS
Filing Date: 2025-08-04
Form Type: 20-F
Source: 0001929980-25-000590
Chunk: 102

Company: Paranovus Entertainment Technology Ltd.
Filing Date: 2025-08-04
Form: 20-F
Item: Item 5
Chunk 102
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 statement of comprehensive income (loss).

The value of RMB against US$ and other currencies may fluctuate and is affected by, among other things, changes in the PRC’s political and economic conditions. Any significant revaluation of RMB may materially affect the Company’s financial condition in terms of US$ reporting. The following table outlines the currency exchange rates that were used in creating the consolidated financial statements in this report:

                            March 31,            March 31,            March 31,        
                                                                                       
                            202 5                202 4                202 3            
  Period-end spot rate      US$1=RMB 7.1782      US$1=RMB 7.0950      US$1=RMB 6.8717  
  Average rate              US$1=RMB 7.1349      US$1=RMB 7.1157      US$1=RMB 6.8855  
 ───────────────────────────────────────────────────────────────────────────────────────

A. Operating Results

Comparison of Fiscal Years Ended March 31, 2025, 2024, and 2023

The following table presents an overview of our results of operations for the years ended March 31, 2025, 2024 and 2023:

(All amounts, other than percentages, in U. S. dollars)

                                                           For the years ended March 31,                                                                          
                                                           202 5                                              202 4                       202 3                   
  Revenues                                                 $                                      71,542      $                    -      $          -            
  Cost of revenues                                                                               (62,526                           -                 -            
  Gross profit                                                                                     9,016                           -                 -            
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Operating expenses:                                                                                                                                             
  Selling and marketing                                                                           (1,445                         (94                 (911,111     
  General and administrative                                                                  (2,306,613                  (2,462,001                 (3,091,478   
  Goodwill impairment                                                                         (3,376,186                  (1,807,848                 -            
  Intangible asset impairment                                                                 (1,108,333                           -                 -            
  Total operating expenses                                                                    (6,792,577                  (4,269,943                 (4,002,589   
  Operating loss                                                                              (6,783,561                  (4,269,943