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v3.25.2

Parent company only condensed financial information (Tables) | 12 Months Ended
--- | ---
Mar. 31, 2025
Condensed Financial Information Disclosure [Abstract] |
Schedule of condensed balance sheet | Condensed Balance Sheets
|  | As of March 31, |
|  | 2024 |  |  | 2025 |
|  | RMB |  |  | RMB |
|  | (in millions) |
Cash and cash equivalents |  |  | 1,114 |  |  |  | 618 |
Amounts due from subsidiaries |  |  | 49,096 |  |  |  | 15,170 |
Prepayments and other assets |  |  | 527 |  |  |  | 245 |
Interest in subsidiaries and VIEs |  |  | 1,180,705 |  |  |  | 1,365,004 |
Total assets |  |  | 1,231,442 |  |  |  | 1,381,037 |
Current unsecured senior notes |  |  | 16,252 |  |  |  | — |
Amounts due to subsidiaries |  |  | 110,867 |  |  |  | 184,879 |
Accrued and other liabilities |  |  | 2,862 |  |  |  | 5,131 |
Non-current bank borrowings |  |  | 28,828 |  |  |  | 22,937 |
Non-current unsecured senior notes |  |  | 86,089 |  |  |  | 122,398 |
Non-current convertible unsecured senior notes |  |  | — |  |  |  | 35,834 |
Total liabilities |  |  | 244,898 |  |  |  | 371,179 |
Ordinary shares |  |  | 1 |  |  |  | 1 |
Additional paid-in capital |  |  | 397,999 |  |  |  | 381,379 |
Treasury shares, at cost |  |  | (27,684 | ) |  |  | (36,329 | )
Statutory reserves |  |  | 14,733 |  |  |  | 15,936 |
Accumulated other comprehensive income |  |  | 3,598 |  |  |  | 3,393 |
Retained earnings |  |  | 597,897 |  |  |  | 645,478 |
Total shareholders’ equity |  |  | 986,544 |  |  |  | 1,009,858 |
Total liabilities and equity |  |  | 1,231,442 |  |  |  | 1,381,037 |
Schedule of condensed statement of comprehensive Income | Condensed Statements of Comprehensive Income
|  | For the year ended March 31, |
|  | 2023 |  |  | 2024 |  |  | 2025 |
|  | RMB |  |  | RMB |  |  | RMB |
|  | (in millions) |
Total cost and expenses |  |  | (846 | ) |  |  | (327 | ) |  |  | (5,972 | )
Income from subsidiaries and VIEs |  |  | 84,000 |  |  |  | 86,057 |  |  |  | 142,604 |
Income from operations |  |  | 83,154 |  |  |  | 85,730 |  |  |  | 136,632 |
Interest expense |  |  | (4,696 | ) |  |  | (5,415 | ) |  |  | (8,058 | )
Other income and expenses |  |  | (5,949 | ) |  |  | (574 | ) |  |  | 896 |
Net income |  |  | 72,509 |  |  |  | 79,741 |  |  |  | 129,470 |
Other comprehensive income |  |  | 23,379 |  |  |  | 14,340 |  |  |  | 498 |
Total comprehensive income |  |  | 95,888 |  |  |  | 94,081 |  |  |  | 129,968 |
Schedule of condensed statement of cash flows | Condensed Statements of Cash Flows
|  | Year ended March 31, |
|  | 2023 |  |  | 2024 |  |  | 2025 |
|  | RMB |  |  | RMB |  |  | RMB |
|  | (in millions) |
Net cash provided by operating activities |  |  | 71,885 |  |  |  | 93,308 |  |  |  | 51,728 |
Cash flows from investing activities: |  |  |  |  |  |  |  |  |
(Advances to and investments in) Repayments from subsidiaries and VIEs, and others |  |  | (12,290 | ) |  |  | 11,838 |  |  |  | (54,809 | )
Net cash (used in) provided by investing activities |  |  | (12,290 | ) |  |  | 11,838 |  |  |  | (54,809 | )
Cash flows from financing activities: |  |  |  |  |  |  |  |  |
Issuance of ordinary shares |  |  | 11 |  |  |  | 843 |  |  |  | 10 |
Advances from subsidiaries |  |  | 15,296 |  |  |  | 6,195 |  |  |  | 73,526 |
Repurchase of ordinary shares |  |  | (74,746 | ) |  |  | (88,745 | ) |  |  | (86,662 | )
Dividend distribution |  |  | — |  |  |  | (17,946 | ) |  |  | (29,077 | )
Repayment of unsecured senior notes |  |  | — |  |  |  | (5,013 | ) |  |  | (16,220 | )
Repayment of bank borrowings |  |  | — |  |  |  | — |  |  |  | (6,067 | )
Proceeds from unsecured senior notes, net of debt issuance cost |  |  | — |  |  |  | — |  |  |  | 35,979 |
Proceeds from convertible unsecured senior notes, net of debt issuance cost |  |  | — |  |  |  | — |  |  |  | 35,665 |
Payments for capped call transactions |  |  | — |  |  |  | — |  |  |  | (4,612 | )
Net cash (used in) provided by financing activities |  |  | (59,439 | ) |  |  | (104,666 | ) |  |  | 2,542 |
Effect of exchange rate changes on cash and cash equivalents |  |  | 33 |  |  |  | 58 |  |  |  | 43 |
Increase (Decrease) in cash and cash equivalents |  |  | 189 |  |  |  | 538 |  |  |  | (496 | )
Cash and cash equivalents at the beginning of the year |  |  | 387 |  |  |  | 576 |  |  |  | 1,114 |
Cash and cash equivalents at the end of the year |  |  | 576 |  |  |  | 1,114 |  |  |  | 618 |

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