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CONSOLIDATED STATEMENTS OF CASH FLOWS
$ in Thousands
12 Months Ended
Mar. 31, 2024
CNY (¥)
Mar. 31, 2024
USD ($)
Mar. 31, 2023
CNY (¥)
Mar. 31, 2022
CNY (¥)
Cash flows from operating activities:        
Net loss ¥ (66,959,000) $ (9,272) ¥ (186,406,000) ¥ (642,374,000)
Adjustments to reconcile net loss to net cash used in operating activities:        
Depreciation and amortization 9,992,000 1,384 65,304,000 333,550,000
Expected credit loss (reversal)/expense 2,649,000 367 648,000 (151,000)
Losses/(gains) on disposal of property and equipment (118,000) (16) (553,000) 448,000
Foreign exchange (gain)/loss (46,000) (6) 8,547,000 (1,214,000)
Goodwill impairment 0 0 63,460,000 [1] 186,504,000
Impairment for intangible assets 9,945,000 1,377 21,233,000 48,890,000
Share-based compensation expenses 4,590,000 636 13,563,000 12,458,000
Deferred income tax benefit (1,755,000) (243) (8,948,000) (15,962,000)
(Gain)/loss from investments, net 2,185,000 303 19,750,000 (232,000)
Share of results of equity investee 2,886,000 400 (883,000) 539,000
Amortization of right-of-use assets and interest on lease liabilities 4,085,000 566 8,610,000 0
Changes in operating assets and liabilities:        
Prepayments, receivables and other current assets 11,174,000 1,547 5,807,000 22,157,000
Loan receivables - service fee (23,000) (3) 511,000 1,211,000
Inventories 46,000 6 (64,000) 161,000
Amounts due from related parties 31,000 4 (620,000) 141,000
Other non-current assets 0 0 0 (442,000)
Accounts payable (1,317,000) (182) (9,771,000) (1,505,000)
Salary and welfare payable (6,614,000) (916) 1,238,000 7,839,000
Taxes payable (10,065,000) (1,397) 9,785,000 1,474,000
Advances from customers (38,000) (4) (655,000) 667,000
Advances to suppliers 920,000 127 0 0
Amounts due to related parties 1,145,000 159 (498,000) (1,540,000)
Operating lease liabilities (1,961,000) (272) (7,654,000) 0
Accruals and other current liabilities (1,213,000) (169) (12,494,000) (67,028,000)
Net cash used in operating activities (40,461,000) (5,604) (10,090,000) (114,409,000)
Cash flows from investing activities:        
Prepayment and payment for purchase of property and equipment (94,156,000) (13,040) (18,962,000) (55,138,000)
Purchase of intangible assets (245,000) (34) 0 0
Disposal of property and equipment 1,658,000 230 788,000 133,000
Disposal of long-term investment 2,144,000 297 0 5,279,000
Purchase of short-term investments (306,386,000) (42,434) (1,601,149,000) (1,783,441,000)
Proceeds from sale of short term investments 390,975,000 54,149 1,652,601,000 1,842,401,000
Purchase of gold 0 0 (36,587,000) 0
Disposal of gold 839,000 116 0 0
Cash paid for long-term investments (15,192,000) (2,104) (14,847,000) (34,564,000)
Cash received from long-term investments 0 0 186,000 0
Cash paid for loan originations (482,257,000) (66,792) (578,658,000) (1,073,006,000)
Cash received from loan repayments 482,854,000 66,874 597,236,000 1,148,415,000
Acquisition of subsidiaries, net of cash acquired 0 0 0 (36,132,000)
Net cash provided by/(used in) investing activities (19,766,000) (2,738) 608,000 13,947,000
Cash flows from financing activities:        
Proceeds from short-term borrowing 0 0 618,000 10,139,000
Repayment of short-term borrowing 0 0 (11,349,000) 0
Cash payment for repurchase of ordinary shares (Note 17) 0 0 (1,333,000) (9,689,000)
Net cash provided by/(used in) financing activities 0 0 (12,064,000) 450,000
Effect of foreign exchange rate changes on cash and cash equivalents and restricted cash 2,514,000 349 (860,000) (3,455,000)
Net decrease in cash and cash equivalents and restricted cash (57,713,000) (7,993) (22,406,000) (103,467,000)
Cash and cash equivalents and restricted cash at beginning of year 417,011,000 57,755 439,417,000 542,884,000
Cash and cash equivalents and restricted cash at end of year 359,298,000 49,762 417,011,000 439,417,000
Supplemental disclosures of cash flow information:        
Cash paid for income taxes (7,470,000) (1,035) (286,000) (920,000)
Cash paid for interest (191,000) (26) (598,000) ¥ (787,000)
Supplemental schedule of non-cash investing and financing activities:        
Payable related to purchase of property and equipment ¥ 14,535,000 $ 2,013 ¥ 10,450,000  
[1] Goodwill impairment