Condensed financial information of the parent company

12 Months Ended

Mar. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Condensed financial information of the parent company

31. Condensed financial information of the parent company

The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial statements for the parent company.

The subsidiaries did not pay any dividends to the Company for the periods presented. For the purpose of presenting parent company only financial information, the Company records its investments in its subsidiaries under the equity method of accounting. Such investments are presented on the separate condensed balance sheets of the Company as “Investments (deficit) in subsidiaries” and the loss of the subsidiaries is presented as “share of losses of subsidiaries”. Certain information and footnote disclosures generally included in financial statements prepared in accordance with US GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company.

The parent company did not have significant capital and other commitments, long-term obligations, other long-term debt, or guarantees as of March 31, 2020 and 2021.

Balance sheets

	As of March 31,			As of March 31,
	2020			2021
	RMB			RMB		US$ (Note 2(f))
ASSETS
Current assets:
Cash and cash equivalents		1,145			18,285		2,791
Prepayments and other current assets		686,819			1,208,128		184,396
Total current assets		687,964			1,226,413		187,187
Non-current assets:
Other non-current asset		7,943			344		53
Total non-current assets		7,943			344		53
Total assets		695,907			1,226,757		187,240
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT
Current liabilities
Short-term borrowings		42,485			—		—
Accrued liabilities and other current liabilities		12,126			5,017		766
Other debts, current		76,252			—		—
Derivative liabilities		14,816			444		68
Total current liabilities		145,679			5,461		834
Non-current liabilities:
Long-term borrowings		4,957			—		—
Negative carrying amount of subsidiaries		690,121			1,138,622		173,788
Total non-current liabilities		695,078			1,138,622		173,788
Total liabilities		840,757			1,144,083		174,622
Mezzanine equity:
Series A convertible redeemable preferred shares (US$ 0.001 par value; 11,000,000 shares authorized, 10,340,000 and nil shares issued and outstanding as of March 31, 2020 and 2021, respectively)		484,122			—		—
Series B convertible redeemable preferred shares (US$ 0.001 par value; 10,000,000 shares authorized, 9,067,384 and nil shares issued and outstanding as of March 31, 2020 and 2021, respectively)		527,682			—		—
Series C convertible redeemable preferred shares (US$ 0.001 par value; 6,000,000 shares authorized, 5,518,101 and nil shares issued and outstanding as of March 31, 2020 and 2021, respectively)		420,419			—		—
Series D convertible redeemable preferred shares (US$ 0.001 par value; 3,000,000 shares authorized, 2,526,026 and nil shares issued and outstanding as of March 31, 2020 and 2021, respectively)		188,183			—		—
Series D-1 convertible redeemable preferred shares (US$ 0.001 par value; 3,000,000 shares authorized, 2,178,530 and nil shares issued and outstanding as of March 31, 2020 and 2021, respectively)		164,282			—		—
Series D-2 convertible redeemable preferred shares (US$ 0.00001 par value; 2,000,000 shares authorized, 1,182,803 and nil shares issued and outstanding as of March 31, 2020 and 2021, respectively)		89,464			—		—
Series E convertible redeemable preferred shares (US$ 0.001 par value; 3,000,000 and 7,000,000 shares authorized, 1,042,623 and nil shares issued and outstanding as of March 31, 2020 and 2021, respectively)		78,553			—		—
Receivable for issuance of preferred shares		(94,758	)		—		—
Total mezzanine equity		1,857,947			—		—

	As of March 31,
	2020			2021
	RMB			RMB			US$ (Note 2(f))
Stockholders’ deficit:
Ordinary Shares (US$0.001 par value;153,000,000 ordinary shares authorized and 22,238,454 issued and outstanding as of March 31, 2020; nil shares issued and outstanding as of March 31, 2021)		139			—			—
Class A ordinary shares (US$0.001 par value; nil shares authorized, issued and outstanding shares as of March 31, 2020; 129,500,000 shares authorized, 54,505,108 shares issued and outstanding as of March 31, 2021)		—			364			56
Class B ordinary shares (US$0.001 par value; nil shares authorized, issued and outstanding shares as of March 31, 2020; 15,000,000 shares authorized, 13,037,729 shares issued and outstanding as of March 31, 2021)		—			82			12
Statutory reserves		2,627			3,047			465
Additional paid-in capital		—			3,272,612			499,498
Accumulated other comprehensive loss		11,204			(20,172	)		(3,079	)
Accumulated deficit		(2,016,758	)		(2,759,882	)		(421,240	)
Receivable for issuance of ordinary shares		(9	)		(413,377	)		(63,094	)
Total shareholders’ deficit		(2,002,797	)		82,674			12,618
Total liabilities, mezzanine equity and shareholders’ deficit		695,907			1,226,757			187,240

Statements of comprehensive loss

	Year Ended March 31,
	2019			2020			2021
	RMB			RMB			RMB			US$ (Note 2(f))
Sales and marketing expenses		—			—			(12,875	)		(1,965	)
General and administrative expenses		(812	)		(4,631	)		(14,050	)		(2,144	)
Total operating expenses		(812	)		(4,631	)		(26,925	)		(4,109	)
Loss from operations		(812	)		(4,631	)		(26,925	)		(4,109	)
Interest income		—			—			15,416			2,353
Interest expense		(5,624	)		(12,578	)		—			—
Share of losses of subsidiaries		(225,531	)		(134,660	)		(191,458	)		(29,221	)
Other (expense)/income, net		—			(40,500	)		(3,008	)		(459	)
Fair value change of derivative liabilities		(2,274	)		13,345			11,531			1,760
Net loss attributable to Boqii Holding Limited		(234,241	)		(179,024	)		(194,444	)		(29,676	)
Less: Accretion on the Preferred Shares to redemption value		(392,550	)		(204,796	)		120,873			18,449
Less: Accretion on redeemable non-controlling interests to redemption value		—			—			(138	)		(21	)
Less: Deemed contribution from preferred shareholders		(723	)		(1,142	)		(12,547	)		(1,915	)
Net loss attributable to Boqii Holding Limited’s ordinary shareholders		(627,514	)		(384,962	)		(86,256	)		(13,163	)
Net loss		(234,241	)		(179,024	)		(194,444	)		(29,676	)
Other comprehensive loss:
Foreign currency translation adjustment, net of nil tax		3,808			2,021			(32,148	)		(4,907	)
Unrealized securities holding gains		1,711			3,209			772			118
Total comprehensive loss		(228,722	)		(173,794	)		(225,820	)		(34,465	)

Statements of cash flows

	Year Ended March 31,
	2019		2020		2021
	RMB		RMB		RMB		US$ (Note 2(f))
Net cash used in operating activities	—		—		(47,806	)	(7,297	)
Net cash used in investing activities	(99,221	)	(184,354	)	(588,953	)	(89,892	)
Net cash provided by financing activities	81,206		155,712		660,366		100,792
Effects of foreign exchange rate changes on cash and cash equivalents	18,010		29,778		(6,465	)	(987	)
Net increase (decrease) in cash and cash equivalents	(5	)	1,136		17,140		2,616
Cash and cash equivalents at beginning of the year	14		9		1,145		175
Cash and cash equivalents at end of the year	9		1,145		18,285		2,791