v3.26.1
Investments in equity method investees (Tables)
12 Months Ended
Mar. 31, 2026
Investments in equity method investees  
Schedule of investments in equity method investees

 

Amounts

 

 

 

RMB

 

 

(in millions)

 

 

 

 

 

Balance as of March 31, 2024

 

 

203,131

 

Additions

 

 

3,827

 

Share of results, other comprehensive income and other reserves (i)

 

 

8,794

 

Disposals

 

 

(2,606

)

Distributions

 

 

(3,906

)

Transfers

 

 

3,559

 

Impairment loss (ii)

 

 

(2,723

)

Foreign currency translation adjustments

 

 

93

 

Balance as of March 31, 2025

 

 

210,169

 

Additions

 

 

3,999

 

Share of results, other comprehensive income and other reserves (i)

 

 

3,141

 

Disposals

 

 

(6,540

)

Distributions

 

 

(4,684

)

Transfers

 

 

2,052

 

Impairment loss (ii)

 

 

(15

)

Foreign currency translation adjustments

 

 

(1,319

)

Balance as of March 31, 2026

 

 

206,803

 

 

(i)
Share of results, other comprehensive income and other reserves include the share of results of the equity method investees, the gain or loss arising from the deemed disposal of the equity method investees and basis differences arising from equity method investees. The amount excludes the expenses relating to the share-based awards underlying the equity of the Company and Ant Group granted to employees of certain equity method investees.
(ii)
Impairment loss recorded represents other-than-temporary decline in fair value below the carrying value of the investments in equity method investees. The valuation inputs for the fair value measurement with respect to the impairments include the stock price for equity method investees that are listed, as well as certain unobservable inputs that are not subject to meaningful aggregation.
Schedule of summarized financial information for all of the Company's equity method investments

 

Year ended March 31,

 

 

2024

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

RMB

 

 

(in millions)

 

Operating data:

 

 

 

 

 

 

 

 

 

Revenue

 

 

451,861

 

 

 

473,328

 

 

 

477,781

 

Cost of revenue

 

 

(312,422

)

 

 

(339,466

)

 

 

(339,041

)

Income from operations

 

 

56,646

 

 

 

43,488

 

 

 

12,575

 

Net income

 

 

75,820

 

 

 

47,012

 

 

 

83,354

 

 

14.
Investments in equity method investees (Continued)

 

 

As of March 31,

 

 

2025

 

 

2026

 

 

 

RMB

 

 

RMB

 

 

(in millions)

 

Balance sheet data:

 

 

 

 

 

 

Current assets

 

 

695,532

 

 

 

732,354

 

Non-current assets

 

 

930,191

 

 

 

943,638

 

Current liabilities

 

 

494,677

 

 

 

536,862

 

Non-current liabilities

 

 

132,780

 

 

 

114,325

 

Noncontrolling interests and mezzanine equity

 

 

16,991

 

 

 

30,755