Fair Value Measurements (Tables)

12 Months Ended

Mar. 31, 2025

Fair Value Measurements [Line Items]

Schedule of Financial Assets and Liabilities Measured and Recorded at Fair Value on Recurring Basis

The following table summarizes the Company’s financial assets and liabilities measured and recorded at fair value on recurring basis as of March 31, 2024 and 2025:

			Fair value measurement at reporting date using
Description	Fair value as of March 31, 2024		Quoted price in active markets for identical assets (Level 1)		Significant other observable Inputs (Level 2)		Significant unobservable Inputs (Level 3)
	RMB		RMB		RMB		RMB
Assets:
Available-for-sale investments		58,465		-		-		58,465
Equity securities with readily determinable fair values		39		39		-		-
Total assets		58,504		39		-		58,465
Liabilities:
Derivative liabilities		5,721		-		-		5,721

			Fair value measurement at reporting date using
Description	Fair value as of March 31, 2025		Quoted price in active markets for identical assets (Level 1)		Significant other observable Inputs (Level 2)		Significant unobservable Inputs (Level 3)
	RMB		RMB		RMB		RMB
Assets:
Short-term investments		4,000		-		4,000		-
Available-for-sale investments		59,624		-		-		59,624
Equity securities with readily determinable fair values		12		12		-		-
Total assets		63,636		12		4,000		59,624
Liabilities:
Derivative liabilities		5		-		-		5

Schedule of Roll Forward of Major Level 3 Investments

The roll forward of major Level 3 investments are as following:

	Derivative liabilities			Available- for-sale investments
Fair value of Level 3 investments as at March 31, 2022		9,086			74,866
Reclassification of forward exchange contracts		(651	)		-
Unrealized fair value change of the derivative liabilities		2,266			-
Unrealized fair value change of the available-for-sale investments		-			(6,427	)
Disposal of available-for-sale investments		-			(428	)
Fair value of Level 3 investments as at March 31, 2023		10,701			68,011
Reclassification of forward exchange contracts		(6,014	)		-
Unrealized fair value change of the derivative liabilities		1,034			-
Unrealized fair value change of the available-for-sale investments		-			(3,546	)
Disposal of available-for-sale investments		-			(6,000	)
Fair value of Level 3 investments as at March 31, 2024		5,721			58,465
Unrealized fair value change of the derivative liabilities		(5,716	)		-
Unrealized fair value change of the available-for-sale investments		-			1,159
Fair value of Level 3 investments as at March 31, 2025		5			59,624

Derivative Liabilities [Member]

Fair Value Measurements [Line Items]

Schedule of Significant Unobservable Inputs

The significant unobservable inputs adopted in the valuation as of March 31, 2024 and 2025 are as follows:

	As of March 31,			As of March 31,
	2024			2025
Spot price (US$)		5.90			1.64
Risk-free rate		4.91	%		4.03	%
Expected volatility		58.28	%		69.30	%
Expected expiry years (in years)		1.60			0.56

Available- for-Sale Sebt Investments [Member]

Fair Value Measurements [Line Items]

Schedule of Significant Unobservable Inputs

The significant unobservable inputs adopted in the valuation as of March 31, 2024 and 2025:

	As of March 31,	As of March 31,
	2024	2025
Implied price to sales after discount for lack of marketability	0.95x	0.77x
Weighted average cost of capital	n.a.	n.a.
Lack of marketability discount	20%,28%,32%	20%,24%,31%
Risk-free rate	1.87%,2.08%,2.17%	1.56%,1.60%,1.65%
Expected volatility	41.55%,43.47%,45.49%	43.70%,40.97%,42.40%
Probability	Liquidation scenario: 40%,35% Redemption scenario: 40%,35% IPO scenario: 20%,30%	Liquidation scenario: 40%,35% Redemption scenario: 40%,35% IPO scenario: 20%,30%