| Schedule of Fair Value Assets Measured at Fair Value on Recurring Basis |
As of March 31, 2024 and 2025, the Group’s assets and liabilities that are measured or disclosed at fair value on a recurring basis in periods subsequent to their initial recognition are as follows:
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Fair value measurement at reporting date using |
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Description |
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Fair value as of March 31, 2024 |
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Quoted Prices in Active Markets for Identical Assets (Level 1) |
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Significant Other Observable Inputs (Level 2) |
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Significant Unobservable Inputs (Level 3) |
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RMB |
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RMB |
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RMB |
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RMB |
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Assets: |
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Short-term investments |
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- wealth management products |
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51,935 |
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- |
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51,935 |
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- |
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- equity securities with readily determinable fair values |
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1,998 |
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1,998 |
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- |
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- |
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Available-for-sale debt securities |
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46,782 |
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- |
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- |
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46,782 |
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Total assets |
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100,715 |
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1,998 |
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51,935 |
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46,782 |
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Fair value measurement at reporting date using |
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Description |
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Fair value as of March 31, 2025 |
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Quoted Prices in Active Markets for Identical Assets (Level 1) |
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Significant Other Observable Inputs (Level 2) |
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Significant Unobservable Inputs (Level 3) |
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RMB |
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RMB |
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RMB |
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RMB |
|
Assets: |
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Short-term investments |
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- wealth management products |
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231,247 |
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- |
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231,247 |
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- |
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- equity securities with readily determinable fair values |
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59,070 |
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59,070 |
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- |
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- |
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Available-for-sale debt securities |
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7,755 |
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- |
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- |
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7,755 |
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Total assets |
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298,072 |
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59,070 |
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231,247 |
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7,755 |
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| Schedule of Roll Forward of Major Level 3 Investments |
The Group classifies its available-for-sales debt securities as Level 3 investments. The roll forward of major Level 3 investments are as following:
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iSNOB Holdings Limited ("iSNOB") |
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Jiangxi Chengqianqihou Food Supply Chain Co., Ltd. (“Jiangxi Chengqianqihou”) |
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Juesekuangxiang (Shanghai) Technology Co. Ltd. (“Juesekuangxiang”) |
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Hangzhou Jimi Biotechnology Co., Ltd. (“Jimi”) |
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Poppy Mobile Inc ("Poppy") |
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Others |
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Total |
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RMB |
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RMB |
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RMB |
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RMB |
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RMB |
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RMB |
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|
RMB |
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Fair value of Level 3 investments as at March 31, 2022 |
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21,918 |
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— |
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— |
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— |
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15,871 |
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7,084 |
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44,873 |
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Addition |
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— |
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5,000 |
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— |
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— |
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— |
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3,000 |
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8,000 |
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Impairment |
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— |
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— |
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— |
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— |
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(16,817 |
) |
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(3,600 |
) |
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(20,417 |
) |
Effect of currency translation adjustment |
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1,816 |
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— |
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— |
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— |
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|
946 |
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239 |
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3,001 |
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The change in fair value of the investments |
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922 |
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— |
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— |
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— |
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— |
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(2,011 |
) |
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(1,089 |
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Fair value of Level 3 investments as at March 31, 2023 |
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24,656 |
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5,000 |
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— |
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— |
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— |
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4,712 |
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34,368 |
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Addition |
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— |
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— |
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6,875 |
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5,459 |
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12,334 |
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Disposal |
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— |
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— |
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— |
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— |
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— |
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(298 |
) |
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(298 |
) |
Impairment |
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— |
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— |
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— |
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— |
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— |
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(1,425 |
) |
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(1,425 |
) |
Effect of currency translation adjustment |
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801 |
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— |
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— |
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— |
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— |
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97 |
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|
898 |
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The change in fair value of the investments |
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564 |
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— |
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— |
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— |
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— |
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|
341 |
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|
905 |
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Fair value of Level 3 investments as at March 31, 2024 |
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26,021 |
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5,000 |
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6,875 |
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5,459 |
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— |
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3,427 |
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46,782 |
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Disposal |
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— |
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(5,000 |
) |
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— |
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— |
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— |
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— |
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(5,000 |
) |
Impairment |
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(8,150 |
) |
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— |
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(6,875 |
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— |
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— |
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— |
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(15,025 |
) |
Effect of currency translation adjustment |
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|
(321 |
) |
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— |
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— |
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— |
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— |
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|
40 |
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(281 |
) |
The change in fair value of the investments |
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(17,550 |
) |
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— |
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— |
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— |
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|
— |
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(1,171 |
) |
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(18,721 |
) |
Fair value of Level 3 investments as at March 31, 2025 |
|
|
— |
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|
— |
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|
— |
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5,459 |
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|
|
— |
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|
2,296 |
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|
7,755 |
|
(1)The Company determines the fair value of its available-for-sale debt securities by using the market approach.
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