ADDENTAX GROUP CORP. Segments Disclosure
15. CONSOLIDATED SEGMENT DATA
Segment information is consistent with how management reviews the businesses, makes investing and resource allocation decisions and assesses operating performance. The segment data presented reflects this segment structure. The Company reports financial and operating information in the following three segments:
| (a) | Garment manufacturing. Including manufacturing and distribution of garments; | |
| (b) | Logistics services. Providing logistic services; | |
| (c) | Property management and subleasing. Providing shops subleasing and property management services for garment wholesalers and retailers in garment market. |
The Company also provides general corporate services to its segments and these costs are reported as “Corporate and other”.
Selected information in the segment structure is presented in the following tables:
| Year ended March 31, | ||||||||
| Revenues from external customers | 2025 | 2024 | ||||||
| Garments manufacturing segment | 283,042 | 229,539 | ||||||
| Logistics services segment | 3,018,325 | 4,342,326 | ||||||
| Property management and subleasing | 879,547 | 581,888 | ||||||
| Total of reportable segments | 4,180,914 | 5,153,753 | ||||||
| Corporate and other | ||||||||
| Total consolidated revenue | $ | 4,180,914 | $ | 5,153,753 | ||||
Income (loss) from operations by segment for year ended March 31, 2025 and 2024 are as follows:
| Year ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Garments manufacturing segment | (100,715 | ) | (143,872 | ) | ||||
| Logistics services segment | 249,160 | 179,450 | ||||||
| Property management and subleasing | (954,448 | ) | (201,746 | ) | ||||
| Total of reportable segments | $ | (806,003 | ) | (166,168 | ) | |||
| Corporate and other | (1,010,967 | ) | (965,028 | ) | ||||
| Total consolidated loss from operations | (1,816,970 | ) | (1,131,196 | ) | ||||
Depreciation and amortization by segment for year ended March 31, 2025 and 2024 are as follows:
| Year ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Garments manufacturing segment | 6,754 | 1,575 | ||||||
| Logistics services segment | 101,888 | 315,657 | ||||||
| Property management and subleasing | 9,214 | 5,421 | ||||||
| Total of reportable segments | $ | 117,856 | 322,653 | |||||
| Corporate and other | 1,331 | 6,294 | ||||||
| Total consolidated depreciation and amortization | $ | 119,187 | 328,947 | |||||
Financial cost by segment for year ended March 31, 2025 and 2024 are as follows:
| Year ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Garments manufacturing segment | 78 | 6,822 | ||||||
| Logistics services segment | 53,066 | 28,728 | ||||||
| Property management and subleasing | 152 | 19 | ||||||
| Total of reportable segments | $ | 53,296 | 35,569 | |||||
| Corporate and other | 1,093,547 | 3,617,234 | ||||||
| Total consolidated financial cost | $ | 1,146,843 | 3,652,803 | |||||
Total assets by segment as of March 31, 2025 and March 31, 2024 are as follows:
| Total assets | March 31, 2025 | March 31, 2024 | ||||||
| Garment manufacturing segment | $ | 238,981 | $ | 1,357,761 | ||||
| Logistics services segment | 3,167,654 | 3,231,492 | ||||||
| Property management and subleasing | 19,855,305 | 20,931,431 | ||||||
| Total of reportable segments | 23,261,939 | 25,520,684 | ||||||
| Corporate and other | 25,905,398 | 26,818,064 | ||||||
| Consolidated total assets | $ | 49,167,337 | $ | 52,338,748 | ||||
Geographical Information
The Company operates predominantly in China. In presenting information on the basis of geographical location, revenue is based on the geographical location of customers and long-lived assets are based on the geographical location of the assets.
Geographic Information
| Year ended March 31, | ||||||||
| 2025 | 2024 | |||||||
| Revenues | - | - | ||||||
| China | 4,180,914 | 5,153,753 | ||||||
| March 31, 2025 | March 31, 2024 | |||||||
| Long-Lived Assets | ||||||||
| China | 19,375,723 | 23,157,356 | ||||||
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Jun 30, 2025 | Showing above |
| 2024 | Jul 15, 2024 | |
| 2023 | Jun 29, 2023 | |
| 2022 | Jun 23, 2022 | |
| 2021 | Jun 29, 2021 | |
| 2020 | Jun 29, 2020 | |
| 2019 | Jul 1, 2019 | |
| 2018 | Jul 16, 2018 | |
About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.