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Related Parties Balances and Transactions

12 Months Ended

Mar. 31, 2024

Related Parties Balances and Transactions [Abstract]

RELATED PARTIES BALANCES AND TRANSACTIONS

NOTE 13 — RELATED PARTIES BALANCES AND TRANSACTIONS

Related parties with whom the Company had transactions are:

Related Parties		Relationship
Mr. Bao		Controlling shareholder of the Company
Mr. He		Beneficial shareholder of the Company
Mr. Yu		Chief Financial Officer of the Company
Philectronics		An equity method investee of the Company
Grandsky Phoenix Limited		100% owned by Mr. Bao

(1) Due from related parties

		As of March 31,
		2023				2024
		RMB				RMB
Philectronics			536				553
Mr. Yu			48				-
			584				553

(2) Due to related parties

		As of March 31,
		2023				2024
		RMB				RMB
Mr. Bao			4,779				11,839
Grandsky Phoenix Limited			-				23,405
			4,779				35,244

On April 1, 2023, the company entered into a loan agreement with Grandsky Phoenix Limited to borrow USD3.5 million, with a term of one year. The loan is interest free. On April 1, 2024 the Company entered into a supplementary agreement with Grandsky Phoenix Limited, who agreed to extend the term for additional one year.

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- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

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-Topic 946
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-Name Accounting Standards Codification
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