Company: AOAO
Filing Date: 2025-02-24
Form Type: S-1/A
Source: 0001493152-25-008010
Chunk: 19

Company: Alpha One Inc.
Filing Date: 2025-02-24
Form: S-1/A
Chunk 19
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 contributions as our board of directors may determine from time to time. Our subsidiary is permitted under the respective laws of the British Virgin Islands and Hong Kong to provide funding to the Company through dividend distribution without restrictions on the amount of the funds. There are no restrictions by the British Virgin Islands and Hong Kong governments on dividend distributions from Hong Kong to the British Virgin Islands and the British Virgin Islands to Wyoming.

Under the PRC laws and regulations, our PRC subsidiaries may pay dividends only out of their respective accumulated after-tax profits as determined in accordance with PRC accounting standards and regulations. The Company is a holding company and its material assets consist solely of the ownership interests held in its PRC subsidiary. The Company relies on dividends paid by its subsidiaries for its working capital and cash needs, including the funds necessary: (i) to pay dividends or cash distributions to its shareholders, (ii) to service any debt obligations and (iii) to pay operating expenses. As a result of PRC laws and regulations that require annual appropriations of 10% of after-tax income to be set aside in a general reserve fund prior to payment of dividends, the Company’s PRC subsidiary is restricted in that respect, in their ability to transfer a portion of their net assets to the Company as a dividend. As of March 31, 2024 and 2023, our PRC operating subsidiary’s net restricted assets were $2,961,361 (equivalent to RMB21,381,980) and $1,431,152 (equivalent to RMB 9,828,589) respectively. As of September 30, 2024, our PRC operating subsidiary’s net restricted assets were $2,282,708 (equivalent to RMB16,020,359).

| 6 |

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

|                                                                          |     |             For 
 the years ended 
        March 31 |   |     |      |   |     |                  For 
 the six months ended 
            September 
                   30 |   |     |      |   |
|                                                                          |     |            2024 |   |     | 2023 |   |     |                 2024 |   |     | 2023 |   |
|                                                                          |     |             RMB |   |     |  RMB |   |     |                  RMB |   |     |  RMB |   |
| Capital                                                                  
 contributions from us to our offshore subsidiaries (