v3.5.0.1

SHARE BASED COMPENSATION (Tables) | 12 Months Ended
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Mar. 31, 2016
SHARE BASED COMPENSATION |
Schedule of stock options activities |
|  |  |  | Weighted |  | Weighted |  | Aggregate |
|  |  |  | average |  | remaining |  | intrinsic |
|  | Number of |  | exercise |  | contractual |  | value |
|  | shares |  | USD |  | years |  | USD |
Outstanding as of March 31, 2013 |  | 2,747,342 |  | 2.84 |  |  |  |  |
Granted |  | 1,469,460 |  | 2.50 |  |  |  |  |
Exercised |  | — |  | — |  |  |  |  |
Forfeited |  | — |  | — |  |  |  |  |
Expired |  | (2,135 | ) | 2.69 |  |  |  |  |
Outstanding as of March 31, 2014 |  | 4,214,667 |  | 2.72 |  |  |  |  |
Granted |  | 1,469,460 |  | 2.24 |  |  |  |  |
Exercised |  | (300,000 | ) | 2.12 |  |  |  |  |
Forfeited |  | (1,102,095 | ) | 2.50 |  |  |  |  |
Expired |  | (396,365 | ) | 2.58 |  |  |  |  |
Outstanding as of March 31, 2015 |  | 3,885,667 |  | 2.66 |  |  |  |  |
Granted |  | — |  | — |  |  |  |  |
Exercised |  | — |  | — |  |  |  |  |
Forfeited |  | — |  | — |  |  |  |  |
Expired |  | (1,981,600 | ) | 2.72 |  |  |  |  |
Outstanding as of March 31, 2016 |  | 1,904,067 |  | 2.61 |  |  |  |  |
Vested and expected to vest as of March 31, 2016 |  | 1,904,067 |  | 2.61 |  | 7.11 |  | 521,658 |
Exercisable as of March 31, 2016 |  | 801,972 |  | 3.11 |  | 4.64 |  | 130,415 |
Schedule of information relating to options outstanding and exercisable |
Options outstanding as of March 31, 2016 |  | Options exercisable as of March 31, 2016 |
|  | Exercise |  | Remaining |  |  |  | Exercise |  | Remaining |
Number of |  | Price |  | Contractual |  | Number |  | Price |  | Contractual |
Shares |  | per Share |  | Life |  | of Shares |  | per Share |  | Life |
|  | USD |  | Years |  |  |  | USD |  | Years |
250,000 |  | 3.60 |  | 0.6 |  | 250,000 |  | 3.60 |  | 0.6 |
77,000 |  | 3.60 |  | 1.7 |  | 77,000 |  | 3.60 |  | 1.7 |
100,000 |  | 4.75 |  | 1.5 |  | 100,000 |  | 4.75 |  | 1.5 |
7,607 |  | 2.69 |  | 2.9 |  | 7,607 |  | 2.69 |  | 2.9 |
1,469,460 |  | 2.24 |  | 8.9 |  | 367,365 |  | 2.24 |  | 8.9 |
1,904,067 |  | 2.61 |  | 7.11 |  | 801,972 |  | 3.11 |  | 4.64 |
Summary of assumptions used in the valuation model |
|  | Year Ended March 31, |
|  | 2014 |  | 2015 |  | 2016 |
Expected dividend yield |  | 0% |  | 0% |  | 0% |
Expected volatility |  | 75% |  | 71% |  | 50% |
Expected term |  | 6.25 |  | 6.25 |  | 0.25 |
Risk-free interest rate (per annum) |  | 1.77% |  | 1.70% |  | 0.72% |
Nonvested shares |
SHARE BASED COMPENSATION |
Summary of the nonvested share activities |
|  |  |  | Weighted average |
|  | Number |  | grant date |
|  | of shares |  | fair value |
|  |  |  | USD |
Outstanding at March 31, 2013 |  | 895,000 |  | 4.633 |
Granted |  | 280,000 |  | 2.145 |
Vested |  | (265,000 | ) | 4.963 |
Forfeited |  | (100,000 | ) | 2.015 |
Outstanding at March 31, 2014 |  | 810,000 |  | 3.989 |
Granted |  | — |  | — |
Vested |  | (335,000 | ) | 4.380 |
Forfeited |  | (30,000 | ) | 2.145 |
Outstanding at March 31, 2015 |  | 445,000 |  | 3.819 |
Granted |  | — |  | — |
Vested |  | (325,000 | ) | 4.437 |
Forfeited |  | — |  | — |
Outstanding at March 31, 2016 |  | 120,000 |  | 2.145 |
Schedule of allocation of recognized compensation expense for nonvested shares |
|  | Year Ended March 31, |
|  | 2014 |  | 2015 |  | 2016 |
|  | RMB |  | RMB |  | RMB |
Cost of revenues |  | 228,854 |  | 164,741 |  | 90,002 |
Research and development |  | 336,869 |  | 179,186 |  | 75,834 |
Sales and marketing |  | 454,503 |  | 295,519 |  | 150,420 |
General and administrative |  | 5,568,300 |  | 5,487,275 |  | 808,054 |
Total share based compensation expense |  | 6,588,526 |  | 6,126,721 |  | 1,124,310 |

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