v3.25.2
Related Party Transactions
 12 Months Ended
Mar. 31, 2024
Related Party Transactions [Abstract]  
Related party transactions
27.Related party transactions

 

The table below sets forth the major related parties and their relationships with the Company as of March 31, 2022, 2023 and 2024:

 

Name of related parties   Relationship with the Company
Nanjing Animal Pharmaceutical   An equity investee of the Company until December, 2022
Wuhan Chunzhijin   An equity investee of the Company
Weishi Network   An equity investee of the Company
Beijing Petdog   An available-for-sale debt investee that the Company has significant influence
Shanghai Guangcheng Information Technology (limited partnership)
(“Shanghai Guangcheng Information”)		   A company with a common director of the Company 
MERCHANT TYCOON LIMITED   A shareholder of the Company
SUPERB ORIGIN INTERNATIONAL LIMITED   A shareholder of the Company
Yingzhi (Lisa) Tang   Senior management of the Company
Yan Jiang   Senior management of the Company
Di (Jackie) Chen   Senior management of the Company until July, 2021
Ying (Christina) Zhang   Senior management of the Company until February, 2022
Fei Wang   Senior management of the Company until April, 2022
Lijun Zhou   Senior management of the Company until April, 2022

 

Details of related party transactions are as follows:

 

  

Year Ended

March 31, 2022

  

Year Ended

March 31,
2023

  

Year Ended

March 31,
2024

 
   RMB   RMB   RMB 
Online marketing and information services            
                
Weishi Network   19    
     -
    
     -
 
    19    
-
    
-
 
Purchase of merchandise            
             
Weishi Network   1,582    
-
    
-
 
Nanjing Animal Pharmaceutical   1,020    1,402    3,891 
    2,602    1,402    3,891 
  

Year Ended

March 31, 2022

  

Year Ended

March 31, 2023

  

Year Ended

March 31, 2024

 
   RMB   RMB   RMB 
Loans granted to related parties               
                
Shanghai Guangcheng Information (a)   33,395    
-
    
-
 
Wuhan Chunzhijin (b)   2,600    2,720    4,761 
MERCHANT TYCOON LIMITED   
-
    100    
-
 
Yingzhi (Lisa) Tang   1,750    
-
    
-
 
Lijun Zhou   300    
-
    
-
 
Yan Jiang   70    
-
    
-
 
    38,115    2,820    4,761 

 

(a)In April 2021, the Company granted Shanghai Guangcheng Information a short-term loan with a total principal amount of RMB33.4 million (equivalent to USD 5 million), bearing an interest rate of 3.5% per annum. The loan was fully repaid by March 31, 2022.

 

(b)The Company entered into a loan agreement with Wuhan Chunzhijin to provide Wuhan Chunzhijin with an interest-free loan of up to RMB10 million, which will be repaid on demand. In March 2023, the company converted RMB3.4 million loan to Wuhan Chunzhijin into equity interest. (Detail refer to Note 11).

 

  

Year Ended

March 31, 2022

  

Year Ended

March 31, 2023

  

Year Ended

March 31, 2024

 
   RMB   RMB   RMB 
Advances provided to related parties            
             
SUPERB ORIGIN INTERNATIONAL LIMITED (b)   
-
    5,497    
-
 
Nanjing Animal Pharmaceutical (c)   
-
    350    5,413 
    
-
    5,847    5,413 
                
Loans granted from related parties               
                
Shanghai Guangcheng Information (a)   9,961    
-
    
-
 

 

 

(a)In April 2021, the Company obtained a total loan facility up to USD 5 million from Shanghai Guangcheng Information. During the year ended March 31, 2022, the Company drew down a total amount of USD 1.5 million (equivalent to RMB10.0 million) from the loan facility, with interest bearing at 3.5% per annum. The loan was fully repaid by March 31, 2022.

 

(b)In January 2023, the Company made an advance payment of RMB 5.5 million to SUPERB ORIGIN INTERNATIONAL LIMITED for the purchase of goods. As of March 31, 2023 and 2024, the balance of the advance payment was RMB 5.5 million and RMB 4.1 million respectively, both of which are recorded as Prepayments to related parties.

 

(c)During the years ended March 31, 2023, and 2024, the Company made advance payments totaling RMB 0.35 million and RMB5.4 million, respectively, to Nanjing Animal Pharmaceutical for the purchase of goods. As of March 31, 2023, and 2024, there were goods valued at RMB 2.0 million and Nil, respectively, which were recorded as Prepayments to related parties.

Details of related party balances are as follows:

 

Amounts due from related parties

 

   As of
March 31,		   As of
March 31,		   As of
March 31,		 
   2022   2023   2024 
   RMB   RMB   RMB 
Prepayments to related parties            
             
SUPERB ORIGIN INTERNATIONAL LIMITED   
-
    5,497    4,065 
Nanjing Animal Pharmaceutical   1,650    2,000    
-
 
Weishi Network   1,582    1,582    1,401 
    3,232    9,079    5,466 
Other receivables from related parties               
                
Wuhan Chunzhijin   7,594    2,988    5,658 
                
Loans to related parties               
Yan Jiang   200    200    211 
Fei Wang (a)   500    
-
    
-
 
Lijun Zhou   200    
-
    
-
 
Shanghai Guangcheng Information   
-
    
-
    27 
MERCHANT TYCOON LIMITED   
-
    100    
-
 
    900    300    238 

 

(a)In January 2021, the Company entered into a one-year loan agreement with Fei Wang, for a principal amount of RMB0.5 million, bearing an interest rate of 4% per annum. This loan was pledged by 515,000 stock options owned by Fei Wang. In December 2022, the loan contract was renewed to December 2024 and was recorded as prepayments and other current assets as of March 31, 2024.

Amounts due to related parties

 

   As of
March 31,		   As of
March 31,		   As of
March 31,		 
   2022   2023   2024 
   RMB   RMB   RMB 
Trade payables to related parties            
                
Nanjing Animal Pharmaceutical   219    471    
-