v3.26.1
CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (Tables)
 6 Months Ended
Sep. 30, 2025
Condensed Financial Statements, Captions [Line Items]  
SCHEDULE OF COMPREHENSIVE (LOSS)/INCOME

 

   As of   As of 
   March 31,   September 30, 
   2025   2025 
   RMB   RMB 
Assets          
Current assets          
Cash and cash equivalents   517    8,394 
Accounts receivable, net   -    51,171 
Prepaid expenses and other current assets, net   11,640    15,911 
Due from related parties   566    555 
Inventories   6,351    4,694 
Total current assets   19,074    80,725 
Non-current assets          
Property and equipment, net   39,599    36,684 
Operating lease right-of-use assets, net   1,714    1,172 
Finance lease right-of-use assets, net   2,246    2,246 
Intangible assets, net   205    189 
Deferred loss on sale-leaseback   605    526 
Total non-current assets   44,369    40,817 
Total assets   63,443    121,542 
           
Liabilities          
Current liabilities          
Accounts payable   138,504    184,720 
Short-term borrowings   57,600    62,367 
Notes payable   -    8,000 
Current portion of government grants   1,812    1,812 
Due to related parties   16,949    17,162 
Lease liability   4,085    2,554 
Other payables and accrued liabilities   64,604    55,955 
Current liabilities related to discontinued operations   1,601    - 
Total current liabilities   285,155    332,570 
Non-current liabilities          
Long-term borrowings   6,000    5,700 
Government grants   2,530    1,623 
Lease liability - non-current   1,619    1,014 
Total non-current liabilities   10,149    8,337 
           
Total liabilities   295,304    340,907 
SCHEDULE OF COMPREHENSIVE (LOSS)/INCOME

STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME

 

   2024   2025 
   Six months ended September 30, 
   2024   2025 
   RMB   RMB 
         
Loss from equity method investments   (15,582)   9,357 
Operating expenses   (111,735)   (3)
Net (loss)/income   (127,317)   9,354 
Foreign currency translation difference   1,231    (9,748)
Comprehensive (loss)/income   (126,086)   (394) 
SCHEDULE OF CASH FLOWS

STATEMENTS OF CASH FLOWS

 

   2024   2025 
   Six months ended September 30, 
   2024   2025 
   RMB   RMB 
   　   　 
CASH FLOW FROM OPERATING ACTIVITIES          
Net (loss)/income   (127,317)   9,354 
Adjustments to reconcile net income to net cash provided by operating activities:          
Equity loss of subsidiaries   15,582    (9,357)
Share-based compensation and expenses   107,975    - 
Prepaid expenses and other current assets   283    503 
Inter-company payable (net of inter-company receivable)   (33,090)   8,635 
Related parties   (258)   973 
Other payables and accrued liabilities   2,986    (1,664)
Net cash (used in)/provided by operating activities   (33,839)   8,444 
Loan received/(paid) from a shareholder   (2,479)   - 
Proceeds from issuance of ordinary shares   35,088    - 
Effect of exchange rate changes on cash and cash equivalent and restricted cash   1,233    (8,446)
Net change in cash and cash equivalent   3    (2)
Cash and cash equivalents, beginning of year   1    2 
Cash and cash equivalents, end of year   4    - 
Parent Company [Member]  
Condensed Financial Statements, Captions [Line Items]  
SCHEDULE OF COMPREHENSIVE (LOSS)/INCOME

BALANCE SHEETS

 

   As of
March 31,		   As of
September 30,		 
   2025   2025 
   RMB   RMB 
ASSETS          
Current assets          
Cash and Cash equivalents   2    - 
Prepaid expenses and other current assets   26,516    26,012 
Inter-company receivable   466,289    446,439 
Non-current assets          
Investment in subsidiary   (563,937)   (377,906)
Total assets   (71,130)   94,545 
           
LIABILITIES AND SHAREHOLDERS’ EQUITY          
Current liabilities          
Inter-company payable   (324)   42 
Due to related parties   22,906    23,880 
Other payables and accrued liabilities   38,951    25,705 
Total liabilities   61,533    49,627 
    　    　 
Shareholders’ equity          
Class A ordinary shares, par value US$0.5; Authorized: 900,000,000 shares; Issued and outstanding: 7,208 shares as of March 31, 2025 and 210,970 shares as of September 30, 2025*   26    719 
Class B ordinary shares, par value US$0.001; Authorized: 100,000,000  shares; nil shares issued and outstanding as of March 31, 2025 and September 30, 2025   -    - 
Additional paid-in capital   732,909    1,070,667 
Subscription Receivables   -    (160,476)
Accumulated deficit   (878,915)   (869,561)
Accumulated other comprehensive income   13,317    3,569 
Total shareholder’s equity   (132,663)   44,918 
Total liabilities and shareholders’ equity   (71,130)   94,545 

 

* On March 31, 2025, the Company effected a 1-for-10 reverse share split of its ordinary shares; on November 11, 2025, the Company completed a 100-for-1 share consolidation of its Class A ordinary shares; and on January 26, 2026, the Company effected a 1-for-5 reverse share split of its Class A ordinary shares. All share and per share information presented in the accompanying condensed consolidated financial statements have been retrospectively adjusted to reflect these share consolidation events.

 

 

UTIME LIMITED
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
(Amounts in thousands, except share data and per share data, or otherwise noted)

 

NOTE 17 — CONDENSED FINANCIAL INFORMATION OF THE PARENT COMPANY (cont.)

 

STATEMENTS OF COMPREHENSIVE (LOSS)/INCOME

 

   2024   2025 
   Six months ended September 30, 
   2024   2025 
   RMB   RMB 
         
Loss from equity method investments   (15,582)   9,357 
Operating expenses   (111,735)   (3)
Net (loss)/income   (127,317)   9,354 
Foreign currency translation difference   1,231    (9,748)
Comprehensive (loss)/income   (126,086)   (394)