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Related party transactions

12 Months Ended

Mar. 31, 2023

28.	Related party transactions

The table below sets forth the major related parties and their relationships with the Company as of March 31, 2021, 2022 and 2023:


Name of related parties		Relationship with the Company
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
MERCHANT TYCOON LIMITED		A shareholder of the Company
SUPERB ORIGIN INTERNATIONAL LIMITED		A shareholder 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 are as follows:


	Year Ended March 31, 2021		Year Ended March 31, 2022		Year Ended March 31, 2023
	RMB		RMB		RMB
Online marketing and information services
Beijing Petdog		410		—		—
Weishi Network		—		19		—

		410		19		—

Purchase of merchandise
Weishi Network		—		1,582		—
Nanjing Animal Pharmaceutical		250		1,020		1,402

		250		2,602		1,402


	Year Ended March 31, 2021		Year Ended March 31, 2022		Year Ended March 31, 2023
	RMB		RMB		RMB
Loans granted to related parties
Shanghai Guangcheng Information (a)		—		33,395		—
Wuhan Chunzhijin (b)		5,690		2,600		2,720
MERCHANT TYCOON LIMITED		—		—		100
Yingzhi (Lisa) Tang		—		1,750		—
Lijun Zhou		—		300		—
Yan Jiang		200		70		—
Nanjing Animal Pharmaceutical (c)		500		—		—
Fei Wang		500		—		—

		6,890		38,115		2,820

(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)

The Company entered into a loan agreement with Wuhan Chunzhijin to provide Wuhan Chunzhijin with an interest-free loan of up to 10 million, which will be repaid on demand. In March 2023, the company converted RMB3.4 million loan to Wuhan Chunzhijin into equity interest. (Detail refer to Note 11)

(c)

In December 2019, Nanjing Xingmu, one of the Company’s 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. The loan was repaid in June 2021.


	Year Ended March 31, 2021		Year Ended March 31, 2022		Year Ended March 31, 2023
	RMB		RMB		RMB
Staff advances
Yingzhi (Lisa) Tang		10		—		—

Advances provided to related parties

SUPERB ORIGIN INTERNATIONAL LIMITED		—		—		5,497
Nanjing Animal Pharmaceutical		2,073		—		350

		2,073		—		5,847

Loans granted from related parties
Shanghai Guangcheng Information (a)		—		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.

Details of related party balances are as follows:

Amounts due from related parties


	As of March 31, 2022		As of March 31, 2023
	RMB		RMB
Prepayments to related parties
SUPERB ORIGIN INTERNATIONAL LIMITED		—		5,497
Nanjing Animal Pharmaceutical		1,650		2,000
Weishi Network		1,582		1,582

		3,232		9,079

Other receivables from related parties
Wuhan Chunzhijin		7,594		2,988

Loans to related parties
Yan Jiang		200		200
Fei Wang ( a )		500		—
Lijun Zhou		200		—
MERCHANT TYCOON LIMITED		—		100

		900		300

(

)

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 loan was pledged by 515,000 stock options owned by Fei Wang. In December 2022, the loan contract was renewed to December 2023 and was recorded as prepayments and other current assets as of March 31, 2023.

Amounts due to related parties


	As of March 31, 2022		As of March 31, 2023
	RMB		RMB
Trade payables to related parties
Nanjing Animal Pharmaceutical		219		471