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Related party transactions
12 Months Ended
Mar. 31, 2022
Related Party Transactions [Abstract]  
Related party transactions
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Related party transactions
The table below sets forth the major related parties and their relationships with the Company as of March 31, 2020, 2021 and 2022:
 
Name of related parties
  
Relationship with the Company
   
Nanjing Xingmu   
An equity investee of the Company before November 1, 2019
   
Nanjing Animal Pharmaceutical    An equity investee of the Company
   
Wuhan Chunzhijin   
An equity investee of the Company
   
Weishi Network    An equity investee of the Company
   
Beijing Petdog    An available-for-sale debt investee that the Company has significant influence
   
Shanghai Guangcheng Information Technology (limited partnership) (“Shanghai Guangcheng Information”)    A company with a common director of the Company
   
Yingzhi (Lisa) Tang   
Senior management of the Company
   
Yan Jiang    Senior management of the Company
 
 
Di (Jackie) Chen   
Senior management of the Company until July, 2021
   
Ying (Christina) Zhang   
Senior management of the Company until February, 2022
   
Fei Wang   
Senior management of the Company until April, 2022
   
Lijun Zhou    Senior management of the Company until April, 2022
Details of related party transactions and balances as of March 31, 2020, 2021 and 2022 are as follows:
The Company believes that the terms of the agreements with the related parties are comparable to the terms in
arm’s-length
transactions with third party customers and suppliers.
Transactions with related parties
 
    
Year Ended

March 31, 2020
    
Year Ended

March 31, 2021
    
Year Ended

March 31, 2022
 
    
RMB
    
RMB
    
RMB
 
Sales of goods
                          
Beijing Petdog
     2,316        —          —    
    
 
 
    
 
 
    
 
 
 
 
    
Year Ended

March 31, 2020
    
Year Ended

March 31, 2021
    
Year Ended

March 31, 2022
 
    
RMB
    
RMB
    
RMB
 
Online marketing and information services
                          
Beijing Petdog
     315        410        —    
Weishi Network
       —          —        19  
    
 
 
    
 
 
    
 
 
 
       315        410        19  
    
 
 
    
 
 
    
 
 
 
 
    
Year Ended

March 31, 2020
    
Year Ended

March 31, 2021
    
Year Ended

March 31, 2022
 
    
RMB
    
RMB
    
RMB
 
Purchase of merchandise
                          
Nanjing Xingmu
     751        —          —    
Weishi Network
       —               1,582  
Nanjing Animal Pharmaceutical
     45        250        1,020  
    
 
 
    
 
 
    
 
 
 
       796        250        2,602  
    
 
 
    
 
 
    
 
 
 
 
    
Year Ended

March 31, 2020
    
Year Ended

March 31, 2021
    
Year Ended

March 31, 2022
 
    
RMB
    
RMB
    
RMB
 
Loans granted to related parties
                          
Shanghai Guangcheng Information (a)
                   33,395  
Wuhan Chunzhijin (b)

            5,690        2,600  
Yingzhi (Lisa) Tang
                   1,750  
Lijun Zhou
                   300  
Yan Jiang
            200        70  
Nanjing Animal Pharmaceutical (c)

     1,000        500         
Ying (Christina) Zhang
     152                
Di (Jackie) Chen
     785                
Fei Wang
       —        500         
    
 
 
    
 
 
    
 
 
 
    
1,937
    
6,890
    
38,115
 
    
 
 
    
 
 
    
 
 
 
 
(a)
In April 2021, the Company granted Shanghai Guangcheng Information a short-term loan with a total principal amount of 
RMB33.4 
million
(equivalent to USD5 million), bearing an interest rate of
 3.5% per annum.
 
The loan was fully repaid by March 31, 2022.
(b)
From April 2020 to January 2021, the Company provided interest free loans to Wuhan Chunzhijin with an aggregate amount of 
RMB5.7 
million,
which will be repaid on demand. 
(c)
In December 2019, Nanjing Xingmu, one of the Company’ subsidiaries, entered into a twelve-month interest free loan agreement with Nanjing Agricultural Pharmaceutical for a principal amount of
RMB1 million. This loan was early repaid in May 2020. In June 2020, Nanjing Xingmu entered into another twelve-month interest free loan agreement with Nanjing Agricultural Pharmaceutical for a principal amount of RMB0.5 million. As of March 31, 2021, the outstanding principal amount under this agreement was RMB0.5 million.
 
The loan was repaid in June 2021. 
 
  
Year Ended

March 31, 2020
 
  
Year Ended

March 31, 2021
 
  
Year Ended

March 31, 2022
 
 
  
RMB
 
  
RMB
 
  
RMB
 
Staff advances
  
     
  
     
  
     
Yingzhi (Lisa) Tang
     —          10        —    
Di (Jackie) Chen
     6        —          —    
    
 
 
    
 
 
    
 
 
 
       6        10        —    
    
 
 
    
 
 
    
 
 
 
Advances provided to related parties
                          
Nanjing Animal Pharmaceutical
     —          2,073        —    
Wuhan Chunzhijin
     3,350        —          —    
    
 
 
    
 
 
    
 
 
 
       3,350        2,073        —    
    
 
 
    
 
 
    
 
 
 
Loans granted from related parties
                          
Shanghai Guangcheng Information (a)
       —          —        9,961  
Yingzhi (Lisa) Tang (b)
     1,450        —          —    
Di (Jackie) Chen (c)
     1,250        —          —    
Yan Jiang (d)
     9,000        —          —    
    
 
 
    
 
 
    
 
 
 
       11,700          —        9,961  
    
 
 
    
 
 
    
 
 
 
 
(a)
In April 2021, the Company obtained a total loan facility up to USD5 
million from Shanghai Guangcheng Information. During the year ended March 31, 2022, the Company drew down a total amount of
 
USD1.5 million (equivalent to RMB10.0 million)
 
from the loan facility, with interest bearing at 3.5% per annum. The loan was fully repaid by March 31, 2022. 
 
(b)
In September 2019, the Company obtained a
two-year
loan of RMB1.5 million from Yingzhi (Lisa) Tang, bearing an interest rate of 9.0% per annum. The loan was early repaid in December 2020.
 
(c)
In October 2019, Di (Jackie) Chen advanced RMB1.25 million to the Company, which was repaid by the Company in the same month.
 
(d)
In September 2019, the Company obtained a
two-year
loan of RMB9 million from Yan Jiang, bearing an interest rate of 9.0% per annum. The loan was early repaid in December 2020.
 
Amounts due from related parties
 
 
  
As of March 31,
2020
 
  
As of March 31,
2021
 
  
As of March 31,
2022
 
 
  
RMB
 
  
RMB
 
  
RMB
 
Trade receivables from related parties
  
  
  
Beijing Petdog
     1,564        —          —    
    
 
 
    
 
 
    
 
 
 
Prepayments to related parties
                          
Nanjing Animal Pharmaceutical
     —          2,023        1,650  
Weishi Network
       —          —        1,582  
    
 
 
    
 
 
    
 
 
 
       —          2,023        3,232  
    
 
 
    
 
 
    
 
 
 
 
 
  
As of March 31,
2020
 
  
As of March 31,
2021
 
  
As of March 31,
2022
 
 
  
RMB
 
  
RMB
 
  
RMB
 
Other receivables from related parties
  
  
  
Wuhan Chunzhijin
     2,481        7,295        7,594  
    
 
 
    
 
 
    
 
 
 
Loans to related parties
                          
Nanjing Animal Pharmaceutical
     1,000        500        —    
Yingzhi (Lisa) Tang
     —          10        —    
Yan Jiang
     —          200        200  
Di (Jackie) Chen (a)
     785        785        —    
Ying (Christina) Zhang
     152        152        —    
Fei Wang (b)
     —          500        500  
Lijun Zhou
       —          —        200  
    
 
 
    
 
 
    
 
 
 
       1,937        2,147        900  
    
 
 
    
 
 
    
 
 
 
 
(a)
In December 2019, the Company entered into a twelve-month interest free loan agreement with, Di (Jackie) Chen, for a principal amount of RMB0.7 
million. In December 2020, the loan contract was renewed to June 2023 and was recorded as other non-current assets as of March 31, 2022.
(b)
In January 2021, the Company entered into a one-year loan agreement with Fei Wang, for a principal amount of RMB0.5 million, bearing an interest rate of 4% per annum. This
l
oan was pledged by 515,000 stock options owned by Fei Wang.
Amounts due to related parties
 
    
As of March 31,
2020
    
As of March 31,
2021
    
As of March 31,
2022
 
    
RMB
    
RMB
    
RMB
 
Trade payables to related parties
                          
Nanjing Animal Pharmaceutical
     45        874        219  
    
 
 
    
 
 
    
 
 
 
 
    
As of March 31,
2020
    
As of March 31,
2021
    
As of March 31,
2022
 
    
RMB
    
RMB
    
RMB
 
Advances from related parties
                          
Beijing Petdog
     —          36        —    
    
 
 
    
 
 
    
 
 
 
Long-term loan from related parties
                          
Yingzhi (Lisa) Tang (a)
     2,521        —          —    
Yan Jiang (b)
     9,000        —          —    
    
 
 
    
 
 
    
 
 
 
       11,521        —          —    
    
 
 
    
 
 
    
 
 
 
 
(a)
In July 2018, the Company entered into a forty-month loan agreement with Yingzhi (Lisa) Tang, for a principal amount of US$0.15 million (RMB1.0 million), bearing an interest rate of 6% per annum. The loan was early repaid in January 2021.
In September 2019, the Company entered into another
two-year
loan agreement with Yingzhi (Lisa) Tang, for the principal amounts of RMB1.5 million, bearing an interest rate of 9% per annum. The loan was early repaid in December 2020.
 
(b)
The balance as of December 31, 2019 represented a
two-year
loan of RMB9 million due to Yan Jiang, bearing an interest rate of 9.0% per annum. The loan was early repaid in December 2020.