Organization and Principal Activities (Tables)

12 Months Ended

Mar. 31, 2023

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Major Subsidiaries, Consolidated VIEs and VIE's Subsidiaries

As of March 31, 2023, the Company’s major subsidiaries, the consolidated VIEs and VIE’s subsidiary are as follows:

	Equity interest held	Place and date of incorporation
Subsidiaries:
Meili Group Limited	100%	Hong Kong, China June 23, 2011
Hangzhou Shiqu	100%	Hangzhou, China November 16, 2011
Meilishuo (Beijing) Network Technology Co., Ltd.	100%	Beijing, China November 23, 2010
		Place and date of incorporation
Consolidated VIEs:
Hangzhou Juangua		Hangzhou, China April 13, 2010
Beijing Meilishikong Network and Technology Co., Ltd.		Beijing, China July 6, 2010
		Place and date of acquisition
VIE’s subsidiary:
Ruisha Technology		Hangzhou, China, July 2021

Schedule of Amounts and Balances of VIEs Included in Consolidated Financial Statements With Intercompany Transactions Eliminated

The following table sets forth the assets, liabilities, results of operations and changes in cash and cash equivalents and restricted cash of the consolidated VIEs and their subsidiaries taken as a whole, which are included in the Group’s consolidated financial statements with intercompany transactions eliminated:

	As of March 31,
	2022		2023
	RMB		RMB
Cash and cash equivalents		213,094		259,033
Restricted cash		809		810
Short-term investments		—		25,584
Inventories, net		64		131
Loan receivables, net		26,788		7,229
Prepayments, receivables and other current assets		34,137		54,617
Amounts due from non-VIE subsidiaries of the Company(1)		76,920		105,334
Amounts due from related parties		—		614
Property and equipment, net		1,238		191,598
Intangible assets, net		43,104		11,933
Right-of-use assets		—		650
Goodwill		63,460		—
Investments		34,331		38,469
Other non-current assets		212,613		33,050
Total assets		706,558		729,052

	As of March 31,
	2022			2023
	RMB			RMB
Amounts due to non-VIE subsidiaries of the Company(2)		1,405,464			1,512,750
Accounts payable		552			548
Salaries and welfare payable		4,464			5,398
Advances from customers		89			68
Taxes payable		1,656			3,246
Amounts due to related parties		1,331			1,395
Current portion of lease liabilities		—			307
Accruals and other current liabilities		217,527			214,359
Deferred tax liabilities		10,704			1,755
Total liabilities		1,641,787			1,739,826
Total shareholders’ deficit		(935,229	)		(1,010,774	)

Note 1: The amount due from non-VIE subsidiaries of the Company as of March 31, 2022 and 2023 mainly represent the receivables of the VIEs due from the Company’s wholly-owned subsidiaries for treasury management purposes and service charges.

Note 2: The amount due to non-VIE subsidiaries of the Company as of March 31, 2022 and 2023 mainly represent the payables resulting from technical and consulting services fee charged by the Group’s relevant PRC subsidiaries to the VIEs in accordance with exclusive consultation and service agreements.

	Year ended March 31,
	2021			2022			2023
	RMB			RMB			RMB
Third-party revenues		85,012			69,793			60,972
Inter-company revenues		25,679			31,816			26,785
Third-party costs and expenses		(95,454	)		(187,958	)		(189,199	)
Inter-company costs and expenses(3)		(32,490	)		(15,779	)		(13,545	)
Third-party other operating income		5,983			2,415			4,922
Inter-company other operating (loss)/income(4)		—			(197,698	)		17,650
Income from non-operations		8,197			12,750			9,874
Loss before income tax benefit		(3,073	)		(284,661	)		(82,541	)
Add: Income tax benefit		4,794			14,689			8,757
Net profit/(loss)		1,721			(269,972	)		(73,784	)

	Year ended March 31,
	2021			2022			2023
	RMB			RMB			RMB
Inter-company payments for service charges(5)		(39,859	)		(40,409	)		(4,561	)
Other operating activities with non-VIE subsidiaries(6)		68,317			131,050			114,322
Operating activities with external parties		(3,132	)		(69,065	)		(26,610	)
Net cash provided by operating activities		25,326			21,576			83,151
Net cash (used in)/provided by investing activities		(202,312	)		28,143			(37,211	)
Net (decrease)/increase in cash and cash equivalents and restricted cash		(176,986	)		49,719			45,940

Note 3: Inter-company costs and expenses are technical and consulting services fee charged by the Group’s relevant PRC subsidiaries to the VIEs in accordance with exclusive consultation and service agreements, all of which have been eliminated in the presentation of Consolidated Statements of Operations and Comprehensive Loss.

Note 4: Inter-company other operating (loss)/income represents the write-off of the amounts among the Group’s non-VIE subsidiaries and the VIEs, all of which have been eliminated in the presentation of Consolidated Statements of Operations and Comprehensive Loss.

Note 5: Inter-company payments for service charges represents the cash paid by the VIEs to the Group’s relevant PRC subsidiaries for technical and consulting services charges in accordance with exclusive consultation and service agreements, all of which have been eliminated in the presentation of Consolidated Statements of Cash flows.

Note 6: Other operating activities with non-VIE subsidiaries included cash receipts for treasury management purposes and service fees charged by the VIEs to the Group’s non-VIE subsidiaries,all of which have been eliminated in the presentation of Consolidated Statements of Cash flows.