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Investments (Tables) | 12 Months Ended
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Mar. 31, 2021
Summary of Long Term Investments | The Company’s long-term investments consist of the following:
|  | As of March 31, |
|  | 2020 |  |  | 2021 |
|  | RMB |  |  | RMB |
Available-for-sale debt securities |  |  |  |  |  |  |  |
iSNOB Holdings Limited (“iSNOB”) |  |  | 76,841 |  |  |  | 22,595 |
Hangzhou Ruisha Technology Co., Ltd. (“Ruisha Technology”) |  |  | 7,623 |  |  |  | 19,065 |
Huzan Inc. (“Huzan”) |  |  | 10,996 |  |  |  | 1,686 |
Xuanwei Limited (“Xuanwei”) |  |  | 3,525 |  |  |  | — |
Shanghai Kuailaimai Information and Technology Co., Ltd. (“Kuailaimai”) |  |  | — |  |  |  | — |
Others |  |  | 3,388 |  |  |  | 8,000 |
|  | 102,373 |  |  | 51,346 |
Equity method investments |  |  |  |  |  |  |  |
JM Weshop (Cayman) Inc. (“JM Weshop”) |  |  | — |  |  |  | — |
Jiaxing Neixiangyoupan Equity investment Fund Partnership (limited partnership) (“Neixiangyoupan”) |  |  | — |  |  |  | 11,522 |
Other s |  |  | — |  |  |  | 3,514 |
|  |  | — |  |  |  | 15,036 |
Tota l |  |  | 102,373 |  |  |  | 66,382 |
Schedule of Available-for-sale Debt Securities | The following table summarizes, by major security type, the Company’s available-for-sale debt securities as of March 31, 2020 and 2021:
|  | As of March 31, |
|  | 2020 |  |  | 2021 |
|  | RMB |  |  | RMB |
Cost |  |  | 46,810 |  |  |  | 25,571 |
Unrealized gains, including foreign exchange adjustment |  |  | 55,563 |  |  |  | 25,775 |
Fair Valu e |  |  | 102,373 |  |  |  | 51,346 |
Huzan Inc. |
Summary of Gain from Investment Disposal | The Company recognized a “Gain from investments, net” of RMB 31,236 in the Consolidated Statements of Operations and Comprehensive loss as follows:
|  | RMB |
Cash consideration collected |  |  | 35,501 |
Less: Carrying value of investment as at November 20, 2018 |  |  | (13,658 | )
Add: Realized gain in other comprehensive income |  |  | 9,393 |
Gain from investment disposal |  |  | 31,236 |
JM Weshop (Cayman) Inc. |
Summary of the Carrying Amount for the Investment | The carrying amount for the investment in JM Weshop as of March 31, 2020 were as follows:
|  | As of March 31, |
|  | 2020 |
|  | RMB |
Investment cost |  |  | 158,777 |
Foreign currency translation |  |  | 14,786 |
Surrender 10% of ordinary shares held |  |  | (25,132 | )
Total investment cost |  |  | 148,431 |
Value booked under equity method |  |  |  |
Share of cumulative loss |  |  | (113,182 | )
Share of other comprehensive loss |  |  | (1,331 | )
Total booked value under equity method |  |  | (114,513 | )
Impairment |  |  | (33,918 | )
Net book value |  |  | — |

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