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Acquisition of Alpha Mind (Tables) | 6 Months Ended
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Mar. 31, 2025
Acquisition of Alpha Mind [Member] |
Acquisition of Alpha Mind (Tables) [Line Items] |
Schedule of Estimated Fair Values of the Identifiable Assets Acquired | The following table summarizes the estimated fair values of the identifiable assets acquired at the acquisition date, which represents the net purchase price allocation at the date of the acquisition of Alpha Mind based on a valuation performed by an independent valuation firm engaged by the Company.
|  | December 28, |
|  | 2023 |
|  | RMB |
Net tangible assets (1) |  |  | 15,436 |
Goodwill |  |  | 1,284,218 |
Total purchase consideration |  |  | 1,299,654 |
(1) | The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible assets on December 28, 2023. The Company did not identify intangible assets from the acquisition, because the Company was a shell company immediately before the acquisition. On December 31, 2024, the fair value of identifiable net assets approximated their carrying amount.
Schedule of Fair Value of Identifiable Net Assets | On December 31, 2024, the fair value of identifiable net assets approximated their carrying amount.
|  | December 28, 2023 |
|  | RMB |
ASSETS |  |  |
Current assets: |  |  |
Cash and cash equivalents |  |  | 5,868 |
Short-term investment |  |  | 1,616 |
Accounts receivable, net |  |  | 19,260 |
Prepayments |  |  | 6,872 |
Other current assets |  |  | 973 |
Total current assets |  |  | 34,589 |
Non-current assets: |  |  |  |
Restricted cash- non-current |  |  | 5,000 |
Property and equipment, net |  |  | 271 |
Operating lease right-of-use assets |  |  | 60 |
Deferred tax assets |  |  | 511 |
Total non-current assets |  |  | 5,842 |
Total assets |  |  | 40,431 |
LIABILITIES AND SHAREHOLDERS’ DEFICIT |  |  |  |
LIABILITIES |  |  |  |
Current liabilities: |  |  |  |
Accounts payable |  |  | 17,590 |
Taxes payable |  |  | 910 |
Operating lease liabilities |  |  | 41 |
Accrued expenses and other current liabilities |  |  | 6,454 |
|  |  | 24,995 |
Non-current liabilities: |  |  |  |
Operating lease liabilities, non-current |  |  | — |
Total liabilities |  |  | 24,995 |
Net tangible assets |  |  | 15,436 |
Schedule of Impairment Loss | Changes in the carrying amount of goodwill from acquisition to the six months ended March 31, 2025 was as follows:
|  | Acquisition of Alpha Mind |
Balance as of December 28, 2023 |  |  | 1,284,218 |
Goodwill impairment loss during the period |  |  | (574,978 | )
Balance as of September 30, 2024 |  |  | 709,240 |
Goodwill impairment loss during the period |  |  | (644,908 | )
Balance as of March 31, 2025 |  |  | 64,332 |
Schedule of Impairment Loss | Movement of impairment loss were as follows:
|  | September 30, |  |  | March 31, |
|  | 2024 |  |  | 2025 |
|  |  | RMB |  |  |  | RMB |
Beginning balance |  |  | 1,284,218 |  |  |  | 709,240 |
Impairment loss |  |  | (574,978 | ) |  |  | (644,908 | )
Ending balance |  |  | 709,240 |  |  |  | 64,332 |
Acquisition of Topone [Member] |
Acquisition of Alpha Mind (Tables) [Line Items] |
Schedule of Estimated Fair Values of the Identifiable Assets Acquired | The following table summarizes the estimated fair values of the identifiable assets acquired at the acquisition date, which represents the net purchase price allocation at the date of the acquisition of Topone based on a valuation performed by an independent valuation firm engaged by the Company.
|  |  |  |  | March 24, |
|  |  |  |  | 2025 |
|  |  |  |  | RMB |
Net tangible assets (1) |  |  | (1) |  |  |  | 434 |
Intangible assets |  |  | (2) |  |  |  | 678 |
Total assets |  |  |  |  |  |  | 1,112 |
Total purchase consideration |  |  |  |  |  |  | 1,107 |
Bargain gain on purchase |  |  |  |  |  |  | 5 |
(1) | The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible assets on March 24, 2025.
(2) | The Company identified intangible assets from the acquisition, thus the company recognized the intangible assets for RMB 678. The intangible assets primarily represent the insurance intermediary license held by Topone.
Schedule of Fair Value of Identifiable Net Assets | The following is a reconciliation of the fair value of major classes of assets acquired and liabilities assumed which comprised of net tangible assets on March 24, 2025.
|  | As of March 24, 2025 |
|  | RMB |
ASSETS |  |  |
Cash, cash equivalents |  |  | 477 |
Total Assets |  |  | 477 |
Liabilities: |  |  |  |
Accrued expenses and other current liabilities |  |  | 43 |
Total liabilities |  |  | 43 |
Net tangible assets |  |  | 434 |

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