Prepayments and other current assets (Tables)

12 Months Ended

Mar. 31, 2023

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Summary of Prepayments and Other Current Assets

The prepayments and other current assets consist of the following:

	As of March 31, 2022		As of March 31, 2023
	RMB		RMB
Prepayments for purchases of products (a)		52,348		24,216
Vendor rebate receivables (b)		24,462		16,160
Value-added tax (“VAT”) deductible (c)		18,864		10,512
Loan receivables (d)		3,845		9,886
Sales return assets		1,264		2,835
Deposits		1,312		999
Others		14,643		14,751
Total		116,738		79,359

(a) Prepayments for purchases of products represent cash prepaid to the Company’s third-party brand partners for the procurement of products.

(b) Vendor rebate receivables represent the rebates to be received by the Company from its suppliers after certain levels of purchases are achieved.

(c) VAT recoverable represents the balances that the Company can utilize to deduct its value-added tax liabilities within the next 12 months.

(d) The balance represents loan receivables due from certain third-party companies and individuals. From July 2020 to March 2023, the Company entered into several loan agreements with aggregate principal amount of RMB11.0 million. The maturity dates of these loans are from October 2023 to March 2024. The interest rates ranged from 0% to 4% per annum. As of March 31, 2022 and 2023, the balances of loan receivables were RMB3.8 million and RMB9.9 million, respectively.