Taxation (Tables)

12 Months Ended

Mar. 31, 2024

Taxes Payable [Abstract]

Schedule of Composition of Income Tax (Expenses)/Benefits

Composition of income tax (expenses)/benefits

	For the year ended March 31,
	2022			2023			2024
	RMB			RMB			RMB
Current income tax expense		(1,450	)		(6,965	)		(137	)
Deferred income tax benefit		15,962			8,948			1,755
		14,512			1,983			1,618

Schedule of Components of Loss Before Tax

The components of loss before tax are as follows:

	For the year ended March 31,
	2022			2023			2024
	RMB			RMB			RMB
Loss before tax
Loss from PRC entities		(138,698	)		(92,070	)		(51,949	)
Loss from Cayman Islands and Hong Kong entities		(518,188	)		(96,319	)		(16,628	)
Total loss before tax		(656,886	)		(188,389	)		(68,577	)

	For the year ended March 31,
	2022			2023			2024
	RMB			RMB			RMB
Income tax (expense)/benefit
Current income tax expense		(1,450	)		(6,965	)		(137	)
Deferred tax benefit		15,962			8,948			1,755
Total income tax benefit		14,512			1,983			1,618

Schedule of Reconciliation of the Differences Between Statutory Tax Rate and the Effective Tax Rate

Reconciliation of the differences between the PRC statutory tax rate of 25% and the Group’s effective tax rate is as follows:

	For the year ended March 31,
	2022			2023			2024
PRC Statutory tax rate		25	%		25	%		25	%
Difference in EIT rates of certain subsidiaries		(29	%)		(12	%)		(11	%)
Permanent book – tax difference		(8	%)		(3	%)		(8	%)
Additional deduction for research and development expenditures		1	%		2	%		6	%
Effect of change on tax rate		—			(18	)%		(5	)%
Changes in valuation allowance		13	%		7	%		(5	)%
Effective tax rate		2	%		1	%		2	%

Schedule of Significant Components of Deferred Tax Assets and Liabilities

(c)Deferred tax assets and liabilities

Deferred taxes were measured using the enacted tax rates for the periods in which they are expected to be reversed. Significant components of the Group’s deferred tax assets are as follows:

	As of March 31,
	2023			2024
	RMB			RMB
Deferred tax assets:
- Tax losses carried forward		125,113			128,639
- Carryforwards of un-deducted advertising expenses		329,868			324,937
- Provision of credit losses		4,312			1,387
- Accruals and other liabilities		8,394			3,497
- Impairment of available-for-sale investments		900			500
Less: valuation allowance		(468,587	)		(458,960	)
Net deferred tax assets		—			—
Deferred tax liabilities:
- Recognition of intangible assets arisen from business    combination		1,755			—
- Unrealized securities holding gain		1,614			1,299
Net deferred tax liabilities		3,369			1,299

Schedule of Operating Loss Carry Forward

As of March 31, 2024, net operating loss carry forwards from PRC entities will expire as follows:

At December 31,	RMB
2024		98,538
2025		141,199
2026		98,601
2027		77,860
2028		27,761
Thereafter		105,182
		549,141

Schedule of Movement of Valuation Allowance

	For the year ended March 31,
	2022			2023			2024
	RMB			RMB			RMB
Balance at beginning of the period		540,973			465,703			468,587
Addition		19,865			10,298			1,653
Effect of change on tax rate		—			30,001			3,710
Written off for expiration of net operating losses		(2,380	)		(20,022	)		(4,371	)
Utilization of previously unrecognized tax loss and    un-deductible advertising expenses		(92,755	)		(17,393	)		(10,619	)
Balance at end of the period		465,703			468,587			458,960