v3.25.2
Related Party Transactions and Balances
 12 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions and Balances

18 RELATED PARTY TRANSACTIONS AND BALANCES

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operational decisions. Parties are also considered to be related if they are subject to common control or common significant influence. Related parties may be individuals or corporate entities.

The following entities are considered to be related parties to the Group:

Name of related parties

Relationship with the Group

Tencent Group

Shareholder of the Group

Jiangxi Chenqianqihou

Subsidiary of one equity method investee

The Group had the following transactions with the major related parties:

 

For the year ended
March 31,

 

 

2023

 

 

2024

 

 

2025

 

 

RMB

 

 

RMB

 

 

RMB

 

Revenues:

 

 

 

 

 

 

 

 

 

Technology services to Tencent

 

 

—

 

 

 

185

 

 

 

244

 

Total

 

 

—

 

 

 

185

 

 

 

244

 

Cost of revenue:

 

 

 

 

 

 

 

 

 

Cloud technology services from Tencent Group

 

 

20,363

 

 

 

17,111

 

 

 

13,963

 

Payment processing fees to Tencent Group

 

 

1,984

 

 

 

1,044

 

 

 

410

 

Total

 

 

22,347

 

 

 

18,155

 

 

 

14,373

 

Interest income:

 

 

 

 

 

 

 

 

 

Interest income from Jiangxi Chengqianqihou

 

 

—

 

 

 

—

 

 

 

404

 

Total

 

 

—

 

 

 

—

 

 

 

404

 

The Group had the following balances with the major related parties:

 

As of March 31,

 

 

2024

 

 

2025

 

 

RMB

 

 

RMB

 

Due from Jiangxi Chengqianqihou

 

 

—

 

 

 

14,630

 

Due from Tencent Group

 

 

587

 

 

 

501

 

Total

 

 

587

 

 

 

15,131

 

Due to Tencent Group

 

 

(5,341

)

 

 

(3,477

)

All balances with the Tencent as of March 31, 2024 and 2025 were unsecured, interest free and had no fixed terms.

In April and October 2024, the Company granted two loans to Jiangxi Chengqianqihou, with amounts of RMB10,000 and RMB6,000, respectively. The maturity dates of the two loans are May 1, 2025 and October 29, 2025, respectively, with interest rate of 3.65%. In May 2025, the Company renewed the loan of RMB10,000 to May 1, 2026 with other terms unchanged.The loans were secured by the founder of Jiangxi Chengqianqihou. As of March 31, 2025, the balance from Jiangxi Chengqianqihou includes the loan of RMB16,000 and interest receivable of RMB429. As of March 31, 2025, the Group recorded RMB1,799 expected credit loss expense in general and administrative expenses.