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Condensed Financial Information of the Parent Company | 12 Months Ended
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Mar. 31, 2024
Condensed Financial Information of the Parent Company [Abstract] |
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY | NOTE 17 — CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY The Company performed a test on the restricted net assets of consolidated subsidiary 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 amounts restricted include paid-in capital, capital surplus and statutory reserves, after intercompany eliminations, as determined pursuant to PRC generally accepted accounting principles, totaling RMB72.1 million as of March 31, 2023 and 2024. The subsidiaries did not pay any dividend to the parent for the periods presented. For the purpose of presenting parent only financial information, the Company records investment in its subsidiary under the equity method of accounting. Such investment is presented on the separate condensed balance sheets of the Company as “Investment in subsidiary” and the income of the subsidiary is presented as “Income from equity method investments.” Certain information and footnote disclosures generally included in financial statements prepared in accordance with U.S. GAAP have been condensed and omitted. BALANCE SHEETS
|  | As of March 31, |
|  | 2023 |  |  | 2024 |
|  | RMB |  |  | RMB |
ASSETS |  |  |  |  |  |
Current assets |  |  |  |  |  |
Cash and cash equivalents |  |  | 2 |  |  |  | 1 |
Prepaid expenses and other current assets |  |  | 25,109 |  |  |  | 25,924 |
Inter-company receivable |  |  | 79,393 |  |  |  | 444,934 |
Non-current assets |  |  |  |  |  |  |  |
Investment in subsidiaries |  |  | (18,929 | ) |  |  | (43,653 | )
Total assets |  |  | 85,575 |  |  |  | 427,206 |
LIABILITIES AND SHAREHOLDERS’ EQUITY |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |
Inter-company payable |  |  | 35,634 |  |  |  | 2,886 |
Due to related parties |  |  | 313 |  |  |  | 23,728 |
Other payables and accrued liabilities |  |  | 5,539 |  |  |  | 32,794 |
Total liabilities |  |  | 41,486 |  |  |  | 59,408 |
Shareholders’ equity |  |  |  |  |  |  |  |
Preference share, par value US$0.0001; Authorized:10,000,000 shares; none issued and outstanding As of March 31, 2023 and As of March 31, 2024, respectively |  |  |  |  |  |  |  |
Ordinary shares, par value US$0.0001; Authorized:990,000,000 shares; Issued and outstanding: 13,567,793 shares as of March 31,2023 and 392,113,953 shares as of March 31, 2024 |  |  | 9 |  |  |  | 278 |
Additional paid-in capital |  |  | 216,504 |  |  |  | 573,615 |
Accumulated deficit |  |  | (175,893 | ) |  |  | (208,828 | )
Accumulated other comprehensive income |  |  | 3,469 |  |  |  | 2,733 |
Total shareholders’ equity |  |  | 44,089 |  |  |  | 367,798 |
Total liabilities and shareholders’ equity |  |  | 85,575 |  |  |  | 427,206 |
STATEMENTS OF COMPREHENSIVE LOSS
|  | Year ended March 31, |
|  | 2023 |  |  | 2024 |
|  | RMB |  |  | RMB |
Loss from equity method investments |  |  | (18,396 | ) |  |  | (50,082 | )
Operating expenses |  |  | (69,220 | ) |  |  | (10,802 | )
Net loss |  |  | (87,616 | ) |  |  | (60,884 | )
Foreign currency translation difference |  |  | 2,445 |  |  |  | 1,456 |
Comprehensive loss |  |  | (85,171 | ) |  |  | (59,428 | )
STATEMENTS OF CASH FLOWS
|  | Year ended March 31, |
|  | 2023 |  |  | 2024 |
|  | RMB |  |  | RMB |
CASH FLOW FROM OPERATING ACTIVTIES |  |  |  |  |  |
Net income |  |  | (87,616 | ) |  |  | (60,884 | )
Adjustments to reconcile net income to net cash provided by operating activities: |  |  |  |  |  |  |  |
Equity loss of subsidiaries |  |  | 18,396 |  |  |  | 50,082 |
Share-based compensation and expenses |  |  | 63,656 |  |  |  | 8,892 |
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |
Inter-company receivable |  |  | 1,539 |  |  |  | (13,078 | )
Prepaid expenses and other current assets |  |  | - |  |  |  | (500 | )
Inter-company payable |  |  | - |  |  |  | (33,989 | )
Related-parties |  |  | - |  |  |  | 2,901 |
Other payables and accrued liabilities |  |  | 4,026 |  |  |  | 25,531 |
Net cash used in operating activities |  |  | 1 |  |  |  | (21,045 | )
Loan received from a shareholder |  |  | - |  |  |  | 20,546 |
Effect of exchange rate changes on cash and cash equivalent and restricted cash |  |  | - |  |  |  | 498 |
Net change in cash and cash equivalent |  |  | 1 |  |  |  | (1 | )
Cash and cash equivalents, beginning of year |  |  | 1 |  |  |  | 2 |
Cash and cash equivalents, end of year |  |  | 2 |  |  |  | 1 |
The Company did not have significant capital and other commitments, long-term obligations, or guarantees as of March 31, 2023 and 2024, respectively.

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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 -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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