v3.25.2
Leases
12 Months Ended
Mar. 31, 2025
Leases [Abstract]  
Leases

12 LEASES

The Group has operating leases primarily for office facilities which have lease terms varying from one to three years.

Total lease costs for the years ended March 31, 2023, 2024 and 2025 were RMB10,951, RMB6,803 and RMB2,138, respectively, included in research and development, sales and marketing and general and administrative expenses in the Group’s Consolidated Statements of Operations and Comprehensive Loss. Out of the total lease costs, there were RMB2,341, RMB2,718 and RMB244 of expenses for short-term leases within 12 months for the years ended March 31, 2023, 2024 and 2025, respectively. As of March 31, 2024 and 2025, the operating lease arrangements of the Group, primarily for office, that have not yet commenced was not material.

Supplemental cash flow information related to leases were as follows:

For the year ended March 31,

 

 

For the year ended March 31,

 

2024

 

 

2025

 

RMB

 

 

RMB

 

 

 

 

 

 

 

Cash paid for the rentals included in the lease liabilities

 

1,972

 

 

 

1,933

 

Right-of-use assets obtained in exchange for lease liabilities

 

1,137

 

 

 

197

 

 

As of March 31, 2024 and 2025, supplemental consolidated balance sheet information related to leases were as follows:

 

As of March 31,

 

 

As of March 31,

 

2024

 

 

2025

 

RMB

 

 

RMB

 

Right-of-use assets

 

2,576

 

 

 

941

 

Current portion of lease liabilities

 

1,888

 

 

 

620

 

Non-current lease liabilities

 

773

 

 

 

352

 

 

Lease term and discount rates were as follows:

As of March 31,

 

 

As of March 31,

 

2024

 

 

2025

 

RMB

 

 

RMB

 

Weighted-average remaining lease term

 

 

 

 

 

Operating leases

1.27 years

 

 

2.75 years

 

Weighted-average incremental borrow rate

 

 

 

 

 

Operating leases

 

4.68

%

 

 

3.60

%

 

As of March 31,

 

 

As of March 31,

 

2024

 

 

2025

 

RMB

 

 

RMB

 

Maturities of lease liabilities were as follows:

 

 

 

 

 

 2025

 

1,933

 

 

 

 

 2026

 

788

 

 

 

645

 

 2027

 

 

 

 

361

 

Total undiscounted lease payments

 

2,721

 

 

 

1,006

 

Less: imputed interest

 

(60

)

 

 

(34

)

Total present value of lease liabilities

 

2,661

 

 

 

972