Universe Pharmaceuticals INC
For the period ended Mar 31, 2026. Filed Jul 29, 2026.
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Mar 31, 2026 · Filed Jul 29, 2026
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EX-99.2 · Commitments and contingencies
Commitments and contingencies
From time to time, we may be a party to various legal actions arising in the ordinary course of business. We accrue costs associated with these matters when they become probable and the amount can be reasonably estimated. Legal costs incurred in connection with loss contingencies are expensed as incurred. For the six months ended March 31, 2026 and 2025, we did not have any legal claims or litigation pending.
As of March 31, 2026, we had the following contractual obligations:
| Payments Due by Period | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Contractual Obligations · Total · Less than 1 year · 1-2 years · 2-3 years · 3-4 years | |||||||||||
| (1) | Debt Obligations | $9,553,493 | $7,378,950 | $ | - | $2,174,543 | $ | - | |||
| (2) | Capital expenditure commitment on CIP project | 13,888,084 | 3,624,239 | 3,624,239 | 5,443,607 | 1,195,999 | |||||
| (3) | Capital expenditure commitment for purchase of property | 2,319,513 | 2,319,513 | - | - | - | |||||
| Total | $25,761,090 | $13,322,702 | $3,624,239 | $7,618,150 | $1,195,999 | ||||||
| (1) | As of March 31, 2026, we had a total of $7,378,950 in short-term borrowings and $2,174,543 in long-term borrowings from several PRC banks (see Footnotes 12 and 13 of our unaudited consolidated financial statements and footnotes, for details). |
| (2) | On June 25, 2021, we signed a construction sub-contract with Chenyuan, pursuant to which, Chenyuan will help us construct four manufacturing plant buildings and an office building with a total estimated budget of RMB165 million (approximately $23.9 million). As of March 31, 2026, we had made a prepayment of approximately RMB69.2 million (approximately $10.0 million) to Chenyuan and future additional capital expenditure on this CIP project was estimated to be approximately RMB95.8 million (approximately $13.9 million) (see Footnote 10 of our unaudited condensed consolidated financial statements and footnotes, Prepayment for CIP project, for details). |
| (3) | On May 6, 2021, we entered into a real estate property purchase agreement with Jiangxi Yueshang to purchase certain residential apartments and commercial office space totaling 2,749.30 square meters, with a total purchase price of RMB32 million (approximately $4.6 million). As of March 31, 2026, we had made a prepayment of RMB16 million (approximately $2.3 million) to Jiangxi Yueshang. The remaining balance of RMB16 million (approximately $2.3 million) is expected to be paid upon reception of the Real Estate Ownership Certificate (see Footnote 11 of our unaudited condensed consolidated financial statements and footnotes, Prepayment for purchase of a property, for details). |
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