Other Assets (Tables)

12 Months Ended

Mar. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Schedule of Prepaid Expense and Other Current Assets

The other assets consist of the following:

	As of March 31,
	2023			2024
	RMB			RMB
Prepayments, receivables and other current assets
Receivables of technology service		21,217			11,613
Receivables from third-party payment service providers(1)		8,711			5,243
Employee loans and advances		1,474			665
Deposits		2,655			507
Interest receivable		631			409
Receivables of financing facilitation service		452			256
Others		6,982			3,269
Less: Allowance for credit losses		(1,940	)		(2,093	)
Subtotal		40,182			19,869
Other prepaid expenses		20,130			26,510
VAT receivables		8,707			8,532
Prepaid promotion fees		107			45
Total Prepayments, receivables and other current assets		69,126			54,956
Other non-current assets
Long-term deposit		14,146			14,146
Less: Allowance for credit losses		—			(331	)
Subtotal		14,146			13,815
Gold(2)		32,378			31,658
Prepayment for renovation		17,116			—
Total non-current assets		63,640			45,473

(1)Receivables from third party payment service providers represent cash due from the Group’s third party on-line payment service providers in relation to their processing of payments for the Group.

(2)As of March 31, 2023 and 2024, the Company has physical gold on hand of RMB32,378 and RMB31,658, respectively. As the Company intends to hold the gold for an indefinite long term period, the Company has recorded the asset in “other non-current assets” on the Consolidated Balance Sheets. The Company will record any decline in net realizable value lower than acquisition cost as a non-operating loss. The net realizable value is determined based on market value less cost to sale. Any recovery in valuation will only be recognized to the extent of previously recorded fiscal year losses, and only to the extent such recovery occurs in the same fiscal year as when such losses were recorded. As of March 31, 2023 and 2024, the market

value of the gold less cost to sell was higher than its purchase cost. Therefore, there was no impairment loss recognized for the year ended March 31, 2023 and 2024.

Schedule of Movement of Allowance For Doubtful Accounts

The movement of allowance for credit losses is analyzed as follows:

	For the year ended March 31,
	2022			2023			2024
	RMB			RMB			RMB
Balance at beginning of year		(1,691	)		(1,821	)		(1,940	)
Cumulative effect of adoption of new accounting standard (Note 2)		—			—			(395	)
Provisions		(268	)		(178	)		(2,482	)
Write-offs		138			59			2,393
Balance at end of year		(1,821	)		(1,940	)		(2,424	)