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Leases
12 Months Ended
Mar. 31, 2024
Leases [Abstract]  
Leases

13 Leases

The Group has operating leases primarily for office facilities which have lease terms varying from one to three years.

Total lease costs for the years ended March 31, 2023 and 2024 were RMB10,951 and RMB6,803, respectively, included in research and development, sales and marketing and general and administrative expenses in the Group’s Consolidated Statements of Operations and Comprehensive Loss. Out of the total lease costs, there were RMB2,341 and RMB2,718 of expenses for short-term leases within 12 months for the years ended March 31, 2023 and 2024, respectively. As of March 31, 2023 and 2024, the operating lease arrangements of the Group, primarily for office, that have not yet commenced was not material.

Supplemental cash flow information related to leases were as follows:

 

For the year ended March 31,

 

 

For the year ended March 31,

 

2023

 

 

2024

 

RMB

 

 

RMB

 

 

 

 

 

 

 

Cash paid for the rentals included in the lease liabilities

 

7,654

 

 

 

1,972

 

Right-of-use assets obtained in exchange for lease liabilities

 

 

 

 

1,137

 

 

As of March 31, 2023 and 2024, supplemental consolidated balance sheet information related to leases were as follows:

 

As of March 31,

 

 

As of March 31,

 

2023

 

 

2024

 

RMB

 

 

RMB

 

Right-of-use assets

 

5,441

 

 

 

2,576

 

Current portion of lease liabilities

 

2,654

 

 

 

1,888

 

Non-current lease liabilities

 

753

 

 

 

773

 

 

Lease term and discount rates were as follows:

 

As of March 31,

 

 

As of March 31,

 

2023

 

 

2024

 

RMB

 

 

RMB

 

Weighted-average remaining lease term

 

 

 

 

 

Operating leases

1.28 years

 

 

1.27 years

 

Weighted-average incremental borrow rate

 

 

 

 

 

Operating leases

 

4.40

%

 

 

4.68

%

 

As of March 31,

 

 

As of March 31,

 

2023

 

 

2024

 

RMB

 

 

RMB

 

Maturities of lease liabilities were as follows:

 

 

 

 

 

 2024

 

2,744

 

 

 

 

 2025

 

768

 

 

 

1,933

 

 2026

 

 

 

 

788

 

Total undiscounted lease payments

 

3,512

 

 

 

2,721

 

Less: imputed interest

 

(105

)

 

 

(60

)

Total present value of lease liabilities

 

3,407

 

 

 

2,661

 

 

 

 

Amounts are based on ASC 840, Leases that were superseded upon the Group’s adoption of ASC 842, Leases on April 1, 2022. Under ASC 840, the rental expenses was RMB14,336 for the year ended March 31, 2022, and was charged to Consolidated Statements of Operations and Comprehensive Loss when incurred.