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Operating Segment

12 Months Ended

Mar. 31, 2022

Disclosure Of Operating Segments Text Block Abstract

Operating segments are identified on the basis of internal reports about components of the Group that are regularly reviewed by the CODM (“Chief Operating Decision Maker”) for the purpose of resource allocation and performance assessment.

Segment results, assets and liabilities include items directly attributable to a segment as well as those that can be allocated on a reasonable basis.

The following provides the results of operations and the financial position of the Company’s operating segments as of and during the year ended March 31, 2022. The Longyun operating segment reflects the Company’s crowdfunding and incubation business. The Dacheng Liantong operating segment reflects the Company’s business of platform services. The Metalpha operating segment reflects the Company’s business of proprietary trading of digital assets.

Results of Operations

For the year ended March 31, 2022

	Metalpha			Longyun			Dacheng Liantong			Other			Total
	US$			US$			US$			US$			US$
Revenue		122,711			-			2,032,916			-			2,155,627

Operating expenses		(75,785	)		(2,835,845	)		(2,292,667	)		(3,425,111	)		(8,629,408	)

Other income (expenses)		1,930			(1,945,939	)		1,393			(6,003,575	)		(7,946,191	)

Profit/(loss) before tax		48,856			(4,781,784	)		76,464			(9,763,508	)		(14,419,972	)

Taxes		(8,061	)		-			-			-			(8,061	)

Net loss		40,795			(4,781,784	)		76,464			(9,763,508	)		(14,428,033	)

Financial position

As of March 31, 2022

	Metalpha			Longyun			Dacheng Liantong			Other			Total
	US$			US$			US$			US$			US$
Current assets		8,438,027			4,644,940			5,409,384			5,133,929			23,626,280
Non-current assets		-			35,874			213,844			462,741			712,459
Total assets		8,438,027			4,680,814			5,623,228			5,596,670			24,338,739

Current liabilities		(6,434,996	)		(557,619	)		(464,803	)		(2,574,109	)		(10,031,527	)
Non-current liabilities		-			-			(105,540	)		-			(105,540	)
Total liabilities		(6,434,996	)		(557,619	)		(570,343	)		(2,574,109	)		(10,137,067	)

Net assets		2,003,031			4,123,195			5,052,885			3,022,561			14,201,672

The following provides the results of operations and the financial position of the Company’s operating segments as of and during the year ended March 31, 2021. The Longyun operating segment reflects the Company’s crowdfunding and incubation business. The Dacheng Liantong operating segment reflects the Company’s business of platform services.

Results of operations

For the year ended March 31, 2021 (Restated)

	Longyun			Dacheng Liantong			Other			Total
	US$			US$			US$			US$
Revenue		-			225,749			-			225,749

Operating expenses		(3,026,631	)		(389,672	)		(737,010	)		(4,153,313	)

Other income (expenses)		343,839			15,403			(1,642,397	)		(1,283,155	)

Loss before tax		(2,682,792	)		(148,520	)		(2,379,407	)		(5,210,719	)

Taxes		-			-			-			-

Net loss		(2,682,792	)		(148,520	)		(2,379,407	)		(5,210,719	)

Financial position

As of March 31, 2021 (Restated)

	Longyun			Dacheng Liantong			Other			Total
	US$			US$			US$			US$
Current assets		8,248,675			1,973,297			5,306,793			15,528,765
Non-current assets		62,287			1,283			37,665			101,235
Total assets		8,310,962			1,974,580			5,344,458			15,630,000

Current liabilities		(4,549,369	)		(2,289,621	)		(230,192	)		(7,069,182	)
Non-current liabilities		(9,837	)		-			-			(9,837	)
Total liabilities		(4,559,206	)		(2,289,621	)		(230,192	)		(7,079,019	)

Net assets/(liabilities)		3,751,756			(315,041	)		5,114,266			8,550,981

Geographical information

Revenue

	2022		2021		2020
		US$		US$		US$
Others		122,711		—		—
PRC		2,032,916		225,749		11,252
		2,155,627		225,749		11,252

The revenue information of continuing operations above is based on the location of the customers’ country of incorporation.

Non-current assets

All non-current assets of the Group above are based in PRC.

Major customers

As of March 31, 2022 and 2021, there was no concentration in the Company’s gross accounts receivables. For the year ended March 31, 2022 and 2021, there was no concentration in the Company’s revenues.