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Investments (Tables)

12 Months Ended

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
Others			—				3,514
			—				15,036
Total			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 Value			102,373				51,346

Huzan Inc.

Summary of Gain from Investment Disposal

The Company recognized a “Gain from investments, net” of RMB31,236 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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Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 325
-URI http://asc.fasb.org/topic&trid=2197064

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 321
-URI http://asc.fasb.org/topic&trid=75115024

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 323
-URI http://asc.fasb.org/topic&trid=2196965

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