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CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY | 12 Months Ended
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Mar. 31, 2022
Condensed Financial Information Disclosure [Abstract] |
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY | 28. CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY The Company performed a test on the restricted net assets of consolidated subsidiaries in accordance with Securities and Exchange Commission Regulation S-X Rule 4-08 (e) (3), “General Notes to Financial Statements” and concluded that it was applicable for the Company to disclose the financial statements for the parent company. The subsidiaries did not pay any dividends to the Company for the periods presented. For the purpose of presenting parent company only financial information, the Company records its investments in its subsidiaries under the equity method of accounting. Such investments are presented on the separate condensed balance sheets of the Company as “Investments (deficit) in subsidiaries” and the loss of the subsidiaries is presented as “share of losses of subsidiaries”. Certain information and footnote disclosures generally included in financial statements prepared in accordance with US GAAP have been condensed and omitted. The footnote disclosures contain supplemental information relating to the operations of the Company, as such, these statements should be read in conjunction with the notes to the consolidated financial statements of the Company. The parent company did not have significant capital and other commitments, long-term obligations, other long-term debt, or guarantees as of March 31, 2021 and 2022.
Balance sheets |  | March 31, 2021 |  |  | March 31, 2022 |
|  | RMB |  |  | RMB |
ASSETS |  |  |  |  |  |
Current assets: |  |  |  |  |  |
Cash and cash equivalents |  |  | 346 |  |  |  | 599 |
Amounts due from intra-Group entities |  |  | 8,753,029 |  |  |  | 8,438,565 |
Other receivables |  |  | 2,415 |  |  |  | 2,170 |
Forward contract assets |  |  | — |  |  |  | 36 |
Prepaid expenses |  |  | 4,189 |  |  |  | 5,104 |
Total assets |  |  | 8,759,979 |  |  |  | 8,446,474 |
LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |
Other payables and other current liabilities |  |  | 46,866 |  |  |  | 22,678 |
Investment deficit in subsidiaries |  |  | 10,618,691 |  |  |  | 9,120,730 |
Amounts due to intra-Group entities |  |  | 90,114 |  |  |  | 90,112 |
Warrant liabilities |  |  | — |  |  |  | 196,390 |
Total liabilities |  |  | 10,755,671 |  |  |  | 9,429,910 |
Balance sheets(Continued) |  | March 31, 2021 |  |  | March 31, 2022 |
|  | RMB |  |  | RMB |
Mezzanine equity |  |  |  |  |  |
Senior convertible preferred shares (US$0.0001 par value, nil and 1,000,000,000 shares authorized as of March 31, 2021 and 2022, respectively; nil and 400,524,323 shares issued and outstanding as of March 31, 2021 and 2022, respectively) |  |  | — |  |  |  | 526,484 |
Total mezzanine equity |  |  | — |  |  |  | 526,484 |
Shareholders’ deficit |  |  |  |  |  |
Ordinary shares (US$0.0001 par value, 10,000,000 shares authorized as of March 31, 2021 and 2022, respectively; 1,071,621,698 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of March 31, 2021; 1,146,044,859 Class A ordinary shares and 40,809,861 Class B ordinary shares issued and outstanding as of March 31, 2022) |  |  | 733 |  |  |  | 782 |
Additional paid-in capital |  |  | 13,695,877 |  |  |  | 14,254,109 |
Accumulated other comprehensive income |  |  | 217,747 |  |  |  | 288,461 |
Accumulated deficit |  |  | (15,910,049 | ) |  |  | (16,053,272 | )
Total shareholders’ deficit |  |  | (1,995,692 | ) |  |  | (1,509,920 | )
Total liabilities, mezzanine equity and shareholders’ deficit |  |  | 8,759,979 |  |  |  | 8,446,474 |
Statements of comprehensive loss |  | For the year ended December 31, |  |  | For the three months ended March 31, |  |  | For the fiscal year ended March 31, |  |  | For the fiscal year ended March 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Operation expense |  |  |  |  |  |  |  |  |  |  |  |
Sales and marketing |  |  | (24,622 | ) |  |  | — |  |  |  | (5,036 | ) |  |  | — |
Research and development |  |  | (258 | ) |  |  | 2,158 |  |  |  | 2,217 |  |  |  | — |
General and administrative |  |  | (136,459 | ) |  |  | 19,018 |  |  |  | (21,161 | ) |  |  | (39,398 | )
Provision for credits losses, net |  |  | — |  |  |  | (3,490 | ) |  |  | — |  |  |  | — |
Total operating expenses |  |  | (161,339 | ) |  |  | 17,686 |  |  |  | (23,980 | ) |  |  | (39,398 | )
Loss from operations |  |  | (161,339 | ) |  |  | 17,686 |  |  |  | (23,980 | ) |  |  | (39,398 | )
Share of loss of subsidiaries |  |  | (1,818,665 | ) |  |  | (2,491,563 | ) |  |  | (275,229 | ) |  |  | (293,128 | )
Interest expense, net |  |  | (47,677 | ) |  |  | (10,727 | ) |  |  | (14,041 | ) |  |  | — |
Other income, net |  |  | 39,131 |  |  |  | 426 |  |  |  | 13,075 |  |  |  | 3,303 |
Foreign exchange (loss)/ gain |  |  | (126 | ) |  |  | (1 | ) |  |  | 9 |  |  |  | (231 | )
Fair value impact of the issuance of senior convertible preferred shares |  |  | — |  |  |  | — |  |  |  | — |  |  |  | 186,231 |
Inducement charge of convertible notes |  |  | — |  |  |  | — |  |  |  | (121,056 | ) |  |  | — |
Net loss |  |  | (1,988,676 | ) |  |  | (2,484,179 | ) |  |  | (421,222 | ) |  |  | (143,223 | )
Other comprehensive (loss)/ income |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency translation |  |  | (17,869 | ) |  |  | 38,572 |  |  |  | 110,983 |  |  |  | 70,714 |
Total comprehensive loss |  |  | (2,006,545 | ) |  |  | (2,445,607 | ) |  |  | (310,239 | ) |  |  | (72,509 | )
Statements of cash flow |  | For the year ended December 31, |  |  | For the three months ended March 31, |  |  | For the fiscal year ended March 31, |  |  | For the fiscal year ended March 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Net cash generated from/ (used in) operating activities |  |  | 18,977 |  |  |  | (218 | ) |  |  | (35,016 | ) |  |  | (52,104 | )
Net cash generated from investing activities |  |  | 755,553 |  |  |  | — |  |  |  | — |  |  |  | — |
Net cash (used in)/ generated from financing activities |  |  | (781,527 | ) |  |  | (2,058 | ) |  |  | 34,308 |  |  |  | 52,379 |
Effect of exchange rate changes on cash and cash equivalents |  |  | 50 |  |  |  | 16 |  |  |  | (27 | ) |  |  | (22 | )
Net (decrease)/increase in cash and cash equivalents |  |  | (6,947 | ) |  |  | (2,260 | ) |  |  | (735 | ) |  |  | 253 |
Cash and cash equivalents at beginning of the period |  |  | 10,288 |  |  |  | 3,341 |  |  |  | 1,081 |  |  |  | 346 |
Cash and cash equivalents at end of the period |  |  | 3,341 |  |  |  | 1,081 |  |  |  | 346 |  |  |  | 599 |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section S99 -Paragraph 6 -Subparagraph (SX 210.5-04(Schedule I)) -URI https://asc.fasb.org/extlink&oid=126898705&loc=d3e5864-122674 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=126929396&loc=d3e5283-111683 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e24072-122690 + Details
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