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LOANS RECOGNIZED AS A RESULT OF PAYMENTS UNDER THE GUARANTEES (Tables) | 12 Months Ended
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Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items] |
Schedule of loans recognized as a result of payments under the guarantees |
|  | March 31, 2021 |  |  | March 31, 2022 |
|  | RMB |  |  | RMB |
Loans recognized as a result of payments under guarantees |  |  | 1,362,556 |  |  |  | 379,259 |
Less: provision for credit losses |  |  | (1,182,609 | ) |  |  | (324,371 | )
|  |  | 179,947 |  |  |  | 54,888 |
Schedule of provision for credit losses | The movement of provision for credit losses for the year ended December 31, 2019, the three months ended March 31, 2020, the fiscal years ended March 31, 2021 and 2022 was as follows:
|  | For the year ended December 31, |  |  | For the three months ended March 31, |  |  | For the fiscal years ended March 31, |
|  | 2019 |  |  | 2020 |  |  | 2021 |  |  | 2022 |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Beginning balance of the period |  |  | (256,639 | ) |  |  | (763,122 | ) |  |  | (2,190,575 | ) |  |  | (1,182,609 | )
Changes on initial application of ASU 2016-13 (i) |  |  | — |  |  |  | (172,843 | ) |  |  | — |  |  |  | — |
Additions |  |  | (398,167 | ) |  |  | (326,204 | ) |  |  | (68,578 | ) |  |  | — |
Provision for credit losses (i) |  |  | (255,105 | ) |  |  | (1,039,367 | ) |  |  | (29,272 | ) |  |  | (94 | )
Write-off |  |  | — |  |  |  | 48,908 |  |  |  | 252,508 |  |  |  | 13,093 |
Bought out by certain non-bank financing institutions without recourse |  |  | — |  |  |  | — |  |  |  | 845,305 |  |  |  | 821,496 |
Payments from the borrowers or other recoveries |  |  | 146,789 |  |  |  | 62,053 |  |  |  | 8,003 |  |  |  | 23,743 |
Ending balance of the period |  |  | (763,122 | ) |  |  | (2,190,575 | ) |  |  | (1,182,609 | ) |  |  | (324,371 | )
(i) Due to the impact of a series of regulations governing lending and debt collection promulgated by relevant authorities in the three months ended December 31, 2019, the performance of the loans recognized as a result of payments under guarantees has been adversely affected, and significant provision for additional credit losses was incurred in the fourth quarter of 2019, taking into the consideration of credit grades, vehicle collateral repossession and residual value of vehicle collateral. Due to the COVID-19 pandemic, the performance of the loans recognized as a result of payments under guarantees has been adversely affected further, which resulted in further provision for credit losses in the three months ended March 31, 2020. The following table explains the changes in the provision of credit losses by grade of monitored credit risk quality indicator as of March 31, 2022:
|  | Normal |  |  | Attention |  |  | Secondary |  |  | Total |
|  | RMB |  |  | RMB |  |  | RMB |  |  | RMB |
Beginning balance of the period |  |  | (11,787 | ) |  |  | (149,220 | ) |  |  | (1,021,602 | ) |  |  | (1,182,609 | )
Reversal of/ (Provision for) credit losses |  |  | 6,483 |  |  |  | 49,903 |  |  |  | (56,480 | ) |  |  | (94 | )
Write-off |  |  | 36 |  |  |  | 1,589 |  |  |  | 11,468 |  |  |  | 13,093 |
Bought out by certain non-bank financing institutions without recourse |  |  | 1,286 |  |  |  | 38,599 |  |  |  | 781,611 |  |  |  | 821,496 |
Payments from the borrowers or other recoveries |  |  | 14 |  |  |  | 6,105 |  |  |  | 17,624 |  |  |  | 23,743 |
Transfer from Normal to Attention |  |  | 2,358 |  |  |  | (2,358 | ) |  |  | — |  |  |  | — |
Transfer from Normal to Secondary |  |  | 514 |  |  |  | — |  |  |  | (514 | ) |  |  | — |
Transfer from Attention to Secondary |  |  | — |  |  |  | 22,040 |  |  |  | (22,040 | ) |  |  | — |
Transfer from Attention to Normal |  |  | (343 | ) |  |  | 343 |  |  |  | — |  |  |  | — |
Transfer from Secondary to Attention |  |  | — |  |  |  | (41,784 | ) |  |  | 41,784 |  |  |  | — |
Transfer from Secondary to Normal |  |  | (366 | ) |  |  | — |  |  |  | 366 |  |  |  | — |
Ending balance of the period |  |  | (1,805 | ) |  |  | (74,783 | ) |  |  | (247,783 | ) |  |  | (324,371 | )
Loans recognized as a result of payments under the guarantees |
Accounts, Notes, Loans and Financing Receivable [Line Items] |
Schedule of loans recognized as a result of payments under the guarantees | An aging analysis of loans recognized as result of payments under guarantees was as follows:
|  | March 31, 2021 |  |  | March 31, 2022 |
|  | RMB |  |  | RMB |
Up to 6 months |  |  | 145,639 |  |  |  | 70,188 |
6 months to 12 months |  |  | 307,224 |  |  |  | 7,555 |
Over 12 months |  |  | 909,693 |  |  |  | 301,516 |
|  |  | 1,362,556 |  |  |  | 379,259 |
Schedule of balance of loans recognized as result of payments under the guarantees by grade of monitored credit risk quality indicator | The balance of loans recognized as result of payments under guarantees by grade of monitored credit risk quality indicator as of March 31, 2021 and 2022 were listed as below:
|  | March 31, 2021 |  |  | March 31, 2022 |
|  | RMB |  |  | RMB |
Normal |  |  | 66,924 |  |  |  | 10,267 |
Attention |  |  | 252,572 |  |  |  | 121,209 |
Secondary |  |  | 1,043,060 |  |  |  | 247,783 |
|  |  | 1,362,556 |  |  |  | 379,259 |

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI https://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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