Parent company only condensed financial information (Tables)
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12 Months Ended |
Mar. 31, 2026 |
|---|
| Condensed Financial Information Disclosure [Abstract] |
|
| Schedule of condensed balance sheet |
Condensed Balance Sheets
|
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As of March 31, |
|
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|
2025 |
|
|
2026 |
|
|
|
RMB |
|
|
RMB |
|
|
|
(in millions) |
|
Cash and cash equivalents |
|
|
618 |
|
|
|
351 |
|
Amounts due from subsidiaries |
|
|
15,170 |
|
|
|
4,456 |
|
Prepayments and other assets |
|
|
245 |
|
|
|
97 |
|
Interest in subsidiaries and VIEs |
|
|
1,365,004 |
|
|
|
1,353,652 |
|
Total assets |
|
|
1,381,037 |
|
|
|
1,358,556 |
|
Amounts due to subsidiaries |
|
|
184,879 |
|
|
|
108,341 |
|
Accrued and other liabilities |
|
|
5,131 |
|
|
|
5,007 |
|
Non-current bank borrowings |
|
|
22,937 |
|
|
|
— |
|
Non-current unsecured senior notes |
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|
122,398 |
|
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|
117,485 |
|
Non-current convertible unsecured senior notes |
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|
35,834 |
|
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|
55,861 |
|
Non-current exchangeable bonds |
|
|
— |
|
|
|
10,976 |
|
Total liabilities |
|
|
371,179 |
|
|
|
297,670 |
|
Ordinary shares |
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|
1 |
|
|
|
1 |
|
Additional paid-in capital |
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|
381,379 |
|
|
|
385,086 |
|
Treasury shares, at cost |
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|
(36,329 |
) |
|
|
(36,141 |
) |
Statutory reserves |
|
|
15,936 |
|
|
|
16,628 |
|
Accumulated other comprehensive income (loss) |
|
|
3,393 |
|
|
|
(13,070 |
) |
Retained earnings |
|
|
645,478 |
|
|
|
708,382 |
|
Total shareholders’ equity |
|
|
1,009,858 |
|
|
|
1,060,886 |
|
Total liabilities and equity |
|
|
1,381,037 |
|
|
|
1,358,556 |
|
|
| Schedule of condensed statement of comprehensive Income |
Condensed Statements of Comprehensive Income
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Year ended March 31, |
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2024 |
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2025 |
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|
2026 |
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|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
|
(in millions) |
|
Total cost and expenses |
|
|
(327 |
) |
|
|
(5,972 |
) |
|
|
(174 |
) |
Income from subsidiaries and VIEs |
|
|
86,057 |
|
|
|
142,604 |
|
|
|
115,581 |
|
Income from operations |
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|
85,730 |
|
|
|
136,632 |
|
|
|
115,407 |
|
Interest expense |
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|
(5,415 |
) |
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|
(8,058 |
) |
|
|
(8,471 |
) |
Other income and expenses |
|
|
(574 |
) |
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|
896 |
|
|
|
(1,032 |
) |
Net income |
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|
79,741 |
|
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|
129,470 |
|
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|
105,904 |
|
Other comprehensive income (loss) |
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|
14,340 |
|
|
|
498 |
|
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|
(17,825 |
) |
Total comprehensive income |
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|
94,081 |
|
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|
129,968 |
|
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|
88,079 |
|
|
| Schedule of condensed statement of cash flows |
Condensed Statements of Cash Flows
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|
Year ended March 31, |
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|
2024 |
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|
2025 |
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|
2026 |
|
|
|
RMB |
|
|
RMB |
|
|
RMB |
|
|
|
(in millions) |
|
Net cash provided by operating activities |
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|
93,308 |
|
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|
51,728 |
|
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|
99,551 |
|
Cash flows from investing activities: |
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|
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Repayments from (Advances to and investments in) subsidiaries and
VIEs, and others |
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|
11,838 |
|
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|
(54,809 |
) |
|
|
(99,207 |
) |
Net cash provided by (used in) investing activities |
|
|
11,838 |
|
|
|
(54,809 |
) |
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|
(99,207 |
) |
Cash flows from financing activities: |
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|
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|
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Issuance of ordinary shares |
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|
843 |
|
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|
10 |
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|
1,042 |
|
Advances from subsidiaries |
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|
6,195 |
|
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|
73,526 |
|
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|
30,191 |
|
Repurchase of ordinary shares |
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|
(88,745 |
) |
|
|
(86,662 |
) |
|
|
(7,638 |
) |
Dividend distribution |
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|
(17,946 |
) |
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|
(29,077 |
) |
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(33,732 |
) |
Repayment of unsecured senior notes |
|
|
(5,013 |
) |
|
|
(16,220 |
) |
|
|
— |
|
Repayment of bank borrowings |
|
|
— |
|
|
|
(6,067 |
) |
|
|
(22,357 |
) |
Proceeds from unsecured senior notes, net of debt issuance cost |
|
|
— |
|
|
|
35,979 |
|
|
|
— |
|
Proceeds from convertible unsecured senior notes, net of debt
issuance cost |
|
|
— |
|
|
|
35,665 |
|
|
|
22,276 |
|
Payments for capped call transactions |
|
|
— |
|
|
|
(4,612 |
) |
|
|
(1,309 |
) |
Proceeds from exchangeable bonds, net of debt issuance cost |
|
|
— |
|
|
|
— |
|
|
|
10,986 |
|
Net cash (used in) provided by financing activities |
|
|
(104,666 |
) |
|
|
2,542 |
|
|
|
(541 |
) |
Effect of exchange rate changes on cash and cash equivalents |
|
|
58 |
|
|
|
43 |
|
|
|
(70 |
) |
Increase (Decrease) in cash and cash equivalents |
|
|
538 |
|
|
|
(496 |
) |
|
|
(267 |
) |
Cash and cash equivalents at the beginning of the year |
|
|
576 |
|
|
|
1,114 |
|
|
|
618 |
|
Cash and cash equivalents at the end of the year |
|
|
1,114 |
|
|
|
618 |
|
|
|
351 |
|
|