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Consolidated Statements of Cash Flows
¥ in Thousands, $ in Thousands
12 Months Ended
Mar. 31, 2023
CNY (¥)
Mar. 31, 2023
USD ($)
Mar. 31, 2022
CNY (¥)
Mar. 31, 2021
CNY (¥)
Cash flows from operating activities:        
Net loss ¥ (105,976) $ (15,431) ¥ (132,823) ¥ (193,216)
Adjustments to reconcile net loss to net cash provided by operating activities:        
Depreciation and amortization expense 7,844 1,142 7,678 7,083
Provision for inventories 35 5 311 (8)
Provision for doubtful accounts 133 19 213 (107)
Interest expense of other debts 9,706 1,413 17,144 21,611
Interest receivable for issuance of ordinary shares (6,112) (890) (14,239) (15,394)
Amortization of right-of-use assets 24,597 3,582 11,705 11,687
Interest of lease liabilities 1,777 259 1,949 1,596
Investment income 178 26 622  
Share of results of equity investees 82 12 (418) 131
Loss/(gain) on disposal of property and equipment and intangible assets (7) (1) (104) 20
Gain on disposal of other debts       (6,846)
Gain from the re-measurement of the previously held equity interest to the fair value in the business acquisition     (127)  
Gain from disposal of a subsidiary (3,597) (524)    
Impairment of goodwill 40,684 5,900    
Share-based compensation expense (7,677) (1,118) 14,409 55,022
Fair value change of derivative liabilities 2,266 330 (2,824) (11,369)
Deferred tax expense (989) (144) (989) (1,889)
Changes in operating assets and liabilities, net of effects of businesses acquired:        
Accounts receivable (27,455) (3,998) (6,131) (880)
Inventories 30,583 4,453 (23,176) (38,839)
Prepayments and other current assets 47,754 6,954 (35,056) (48,853)
Amounts due from related parties (3,839) (559) 490 (2,663)
Operating lease liabilities (26,397) (3,844) (12,849) (12,850)
Accounts payable (36,342) (5,292) 18,106 (22,029)
Salary and welfare payable 6 1 293 2,518
Accrued liabilities and other current liabilities 2,701 393 1,954 667
Amounts due to related parties 252 37 (808) 1,062
Contract liabilities (2,536) (369) 3,140 (5,229)
Other non-current assets (1,740) (253) 4,026 11,289
Net cash used in operating activities (54,069) (7,873) (147,504) (247,486)
Cash flows from investing activities:        
Loan receivables advanced to third parties (7,864) (1,145) (2,376) (49,392)
Repayments on loan receivables from third parties 1,096 160 2,579 44,840
Loan receivables advanced to related parties (4,120) (600) (35,995) (4,814)
Repayments on loan receivables from related parties 3,874 564 35,245  
Acquisition of subsidiaries (2,938) (428)    
Increase/(decrease) in short-term investments 58,287 8,487 40,462 (168,546)
Purchase of intangible assets (50) (7) (24)  
Purchase of property and equipment (1,805) (263) (3,077) (6,509)
Disposal of property and equipment 16 2 125 4
Acquisitions of long-term investments     (15,792)  
Net cash generated from/ (used in) investing activities 46,496 6,770 21,147 (184,417)
Cash flows from financing activities:        
Proceeds from issuance of convertible redeemable preferred shares, net of issuance costs       354,825
Acquisition of additional interests in subsidiaries from non-controlling interests     245  
Proceeds from short-term and long-term borrowings 110,553 16,098 185,614 87,846
Repayments of short-term and long-term borrowings (187,234) (27,263) (176,897) (74,000)
Proceeds from issuance of other debts, net of issuance costs       16,940
Proceeds from issuance of ordinary shares 87,959 12,808 262,870  
Repayments of other debts (87,959) (12,808) (270,860) (130,827)
Proceeds from exercise of share option 25 4 1,023 9
Proceeds from the initial public offering, net of underwriter discounts and commissions and other offering costs paid       393,698
Net cash flows generated from/ (used in) financing activities (76,656) (11,161) 1,995 648,491
Net increase (decrease) in cash, cash equivalents and restricted cash (84,229) (12,264) (124,362) 216,588
Cash, cash equivalents and restricted cash at beginning of year 162,855 23,714 292,237 88,352
Effects of exchange rate changes on cash, cash equivalents and restricted cash 11,224 1,633 (5,020) (12,703)
Cash, cash equivalents and restricted cash at end of year 89,850 13,083 162,855 292,237
Supplemental schedule of non-cash investing and financing activities:        
Accretion on convertible redeemable preferred shares       120,873
Accretion on redeemable non-controlling interests (675) (98) (575) (138)
Deemed dividend to preferred shareholders       (12,547)
Unpaid cash consideration for business acquisitions     (2,938)  
Additional ASC 842 supplemental disclosure:        
Cash paid for fixed operating lease costs included in the measurement of lease obligations in operating activities 26,397 3,844 12,849 12,850
Right-of-use assets obtained in exchange for operating lease obligations ¥ 8,384 $ 1,221 ¥ 21,038 ¥ 25,970