XML 77 R54.htm IDEA: XBRL DOCUMENT v3.22.2

INCOME TAX EXPENSE (Tables)

12 Months Ended

Mar. 31, 2022

INCOME TAX EXPENSE

Schedule of current and deferred portions of income tax expense included in the Consolidated Statements of Comprehensive Loss

The current and deferred portions of income tax expense included in the Consolidated Statements of Comprehensive Loss during the year ended December 31, 2019, the three months ended March 31, 2020, the fiscal years ended March 31, 2021 and 2022 were as follows:

		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
Continuing operations:
- Current income tax benefit/ (expense)			876				(326	)			(33	)			(245	)
- Deferred income tax expense			1,678				—				—				—
			2,554				(326	)			(33	)			(245	)
Discontinued operations:
- Current income tax expense			(2,992	)			—				—				—
Total income tax expense			(438	)			(326	)			(33	)			(245	)

Reconciliation of Differences Between Statutory Tax Rate and the Effective Tax Rate

The following table sets forth a reconciliation between the statutory PRC EIT rate of 25% and the effective tax rate:

		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
Statutory income tax rate 25.0%			25.0	%			25.0	%			25.0	%			25.0	%
Permanent differences			(8.9	)%			(6.7	)%			(17.0	)%			(42.0	)%
Effect of different tax rate (i)			(2.1	)%			(0.7	)%			(0.7	)%			12.4	%
Change of valuation allowance			(13.9	)%			(17.6	)%			(7.3	)%			4.8	%
Effective tax rate			0.0	%			0.0	%			0.0	%			0.2	%

Schedule of significant components of the deferred tax assets and liabilities

The following table sets forth the significant components of the deferred tax assets:

		March 31, 2021				March 31, 2022
		RMB				RMB
Deferred tax assets
Net accumulated losses-carry forward			904,496				1,449,953
Deductible advertising expense			543,743				551,431
Provision for credit losses			511,528				94,706
Accruals			46,097				—
Less: valuation allowance			(2,005,864	)			(2,096,090	)
Net deferred tax assets			—				—

Schedule of movement of valuation allowance

Movement of valuation allowance

		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
Balance at beginning of the period			(1,252,253	)			(1,534,011	)			(1,974,108	)			(2,005,864	)
Changes of valuation allowance			(281,758	)			(440,097	)			(31,756	)			(90,226	)
Balance at end of the period			(1,534,011	)			(1,974,108	)			(2,005,864	)			(2,096,090	)

X

- References

No definition available.

+ Details

Name:	us-gaap_IncomeTaxDisclosureAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of income tax expense attributable to continuing operations for each year presented including, but not limited to: current tax expense (benefit), deferred tax expense (benefit), investment tax credits, government grants, the benefits of operating loss carryforwards, tax expense that results from allocating certain tax benefits either directly to contributed capital or to reduce goodwill or other noncurrent intangible assets of an acquired entity, adjustments of a deferred tax liability or asset for enacted changes in tax laws or rates or a change in the tax status of the entity, and adjustments of the beginning-of-the-year balances of a valuation allowance because of a change in circumstances that causes a change in judgment about the realizability of the related deferred tax asset in future years.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 9
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32639-109319

+ Details

Name:	us-gaap_ScheduleOfComponentsOfIncomeTaxExpenseBenefitTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of net deferred tax asset or liability recognized in an entity's statement of financial position, including the following: the total of all deferred tax liabilities, the total of all deferred tax assets, the total valuation allowance recognized for deferred tax assets.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the reconciliation using percentage or dollar amounts of the reported amount of income tax expense attributable to continuing operations for the year to the amount of income tax expense that would result from applying domestic federal statutory tax rates to pretax income from continuing operations.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 12
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32687-109319

+ Details

Name:	us-gaap_ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of valuation allowances to reduce deferred tax assets to net realizable value, including identification of the deferred tax asset more likely than not will not be fully realized and the corresponding amount of the valuation allowance.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (c)
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32537-109319

+ Details

Name:	us-gaap_SummaryOfValuationAllowanceTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration