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Organization and Principal Activities (Tables) | 12 Months Ended
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Mar. 31, 2024
Organization and Principal Activities [Abstract] |
Schedule of Subsidiaries and Vie | As of March 31, 2024, details of the subsidiaries and VIE of the Company are set out below:
Name |  | Date of Incorporation |  | Place of Incorporation |  | Percentage of Beneficial Ownership |  | Principal Activities
Subsidiaries |  |  |  |  |  |  |  |
UTime HK |  | November 1, 2018 |  | Hong Kong |  | 100% |  | Investment Holding
UTime WFOE |  | December 18, 2018 |  | China |  | 100% |  | Investment Holding
Bridgetime |  | September 5, 2016 |  | British Virgin Island |  | 100% |  | Investment Holding
Changsha UTime Business Management Co., Ltd |  | February 27, 2024 |  | China |  | 100% |  | Trading
Name |  | Date of Incorporation |  | Place of Incorporation |  | Percentage of Beneficial Ownership |  | Principal Activities
VIE |  |  |  |  |  |  |  |
UTime SZ |  | June 12, 2008 |  | China |  | 100% |  | Research and development of products, and sales
Subsidiaries of the VIE |  |  |  |  |  |  |  |
Guizhou United Time Technology Co., Ltd. (“UTime GZ”) |  | September 23, 2016 |  | China |  | VIE’s subsidiary |  | Manufacturing
UTime Technology (HK) Company Limited (“UTime Trading”) |  | June 25, 2015 |  | Hong Kong |  | VIE’s subsidiary |  | Trading
UTime India Private Limited (“UTime India”) |  | February 7, 2019 |  | India |  | UTime Trading’s subsidiary |  | Trading
Guangxi UTime Technology Co., Ltd. (“UTime Guangxi”) |  | November 1, 2021 |  | China |  | UTime Trading’s subsidiary |  | Manufacturing
Gesoper S De R.L. De C.V. (“Gesoper”) |  | October 21, 2020 |  | Mexico |  | UTime Trading’s subsidiary |  | Trading
Firts Communications And Technologies De Mexico S.A. De C.V. (“Firts”) |  | November 12, 2021 |  | Mexico |  | Gesoper’s subsidiary |  | Trading
Schedule of Balance Sheet | The aggregate carrying value of assets and liabilities of VIE and its subsidiaries (after elimination of intercompany transactions and balances) in the Company’s consolidated balance sheets as of March 31, 2023 and 2024 are as follows:
|  | As of March 31, |
|  | 2023 |  |  | 2024 |
|  | RMB |  |  | RMB |
Assets |  |  |  |  |  |
Current assets |  |  |  |  |  |
Cash and cash equivalents |  |  | 272 |  |  |  | 2,704 |
Restricted cash |  |  | 500 |  |  |  | 500 |
Accounts receivable, net |  |  | 52,171 |  |  |  | 30,240 |
Prepaid expenses and other current assets, net |  |  | 66,133 |  |  |  | 81,729 |
Due from related parties |  |  | 584 |  |  |  | 553 |
Inventories |  |  | 16,169 |  |  |  | 11,026 |
Current assets related to discontinued operations |  |  | 3,946 |  |  |  | 1,438 |
Total current assets |  |  | 139,973 |  |  |  | 128,190 |
Non-current assets |  |  |  |  |  |  |  |
Property, plant and equipment, net |  |  | 61,407 |  |  |  | 54,188 |
Operating lease right-of-use assets, net |  |  | 13,030 |  |  |  | 9,781 |
Finance lease right-of-use assets, net |  |  | - |  |  |  | 6,460 |
Intangible assets, net |  |  | 1,677 |  |  |  | 662 |
Deferred loss on sale-leaseback |  |  | - |  |  |  | 767 |
Other non-current assets |  |  | - |  |  |  | 153 |
Non-current assets related to discontinued operations |  |  | 4 |  |  |  | 3 |
Total non-current assets |  |  | 76,118 |  |  |  | 72,014 |
Total assets |  |  | 216,091 |  |  |  | 200,051 |
Liabilities |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |
Accounts payable |  |  | 125,368 |  |  |  | 106,092 |
Short-term borrowings |  |  | 53,935 |  |  |  | 56,949 |
Current portion of long-term borrowings |  |  | 1,080 |  |  |  | - |
Current portion of government grants |  |  | - |  |  |  | 1,812 |
Due to related parties |  |  | 3,984 |  |  |  | 11,516 |
Lease liabilities |  |  | 3,673 |  |  |  | 6,824 |
Other payables and accrued liabilities |  |  | 47,806 |  |  |  | 31,157 |
Income tax payables |  |  | 18 |  |  |  | 18 |
Current liabilities related to discontinued operations |  |  | 3,171 |  |  |  | 1,929 |
Total current liabilities |  |  | 239,035 |  |  |  | 216,297 |
Non-current liabilities |  |  |  |  |  |  |  |
Long-term borrowings |  |  | 6,870 |  |  |  | - |
Government grants |  |  | 8,697 |  |  |  | 4,342 |
Deferred tax liability |  |  | 295 |  |  |  | 125 |
Lease liability - non-current |  |  | 10,876 |  |  |  | 10,054 |
Total non-current liabilities |  |  | 26,738 |  |  |  | 14,521 |
Total liabilities |  |  | 265,773 |  |  |  | 230,818 |
Schedule of Revenue Net Income and Cash Flows of Vie Aand Subsidiaries | The table sets forth the revenue, net income and cash flows of the VIE and subsidiaries of VIE in the table below.
|  | Year ended March 31, |
|  | 2023 |  |  | 2024 |
|  | RMB |  |  | RMB |
Revenue |  |  | 197,564 |  |  |  | 172,156 |
Net loss |  |  | (19,221 | ) |  |  | (42,175 | )
Net cash used in operating activities |  |  | (15,269 | ) |  |  | (5,273 | )
Net cash provided by investing activities |  |  | (2,900 | ) |  |  | 5,529 |
Net cash provided by financing activities |  |  | 18,295 |  |  |  | 1,616 |
Schedule of Classes of Assets and Liabilities of Discontinued Operation | The following table presents the carrying amounts of assets and liabilities for the discontinued operations of Gesoper and Firts in Mexico, and Utime India and Do Mobile in India:
|  | As of March 31, |
|  | 2023 |  |  | 2024 |
|  | RMB |  |  | RMB |
Assets classified as discontinued operation |  |  | 4,240 |  |  |  | 1,441 |
Liabilities classified as discontinued operation |  |  | 3,171 |  |  |  | 1,929 |
Schedule of Classes of Assets and Liabilities of Discontinued Operation | The financial results of these operations are presented as following in the consolidated statement of comprehensive loss.
|  | Year ended March 31, |
|  | 2023 |  |  | 2024 |
|  | RMB |  |  | RMB |
Loss from discontinued operation, net of income taxes |  |  | 6,439 |  |  |  | 1,903 |
Loss on disposal of discontinued operation |  |  | - |  |  |  | 26,719 |

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- Definition Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-3 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 5A -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-5A Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-9 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-4 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481203/810-10-50-6 + Details
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