| Short-term borrowings |
7.
Short-term borrowings
The following table presents
the Group’s outstanding short-term loans as of March 31, 2024 and 2023:
| Schedule of short-term loans | |
| | | |
| | | |
| | |
| | |
As of March 31, | |
| | |
2024 | | |
2025 | |
| | |
RMB | | |
RMB | | |
US$ | |
| Xiaoshan Rural Commercial Bank (i) | |
| 3,000,000 | | |
| – | | |
| – | |
| Zhejiang Mintai Commercial Bank (ii) | |
| 2,000,000 | | |
| – | | |
| – | |
| Total | |
| 5,000,000 | | |
| – | | |
| – | |
(i)
|
On May 30, 2022,
Fit-One entered into a one-year loan agreement with Xiaoshan Rural Commercial Bank of RMB3,000,000 bearing an interest rate of 6.30%
per annum. The loan was guaranteed by a third-party entity, Hangzhou Financing Guarantee Group Co. The loan was fully repaid in May
2023.
On May 16, 2023, Fit-One entered into a one-year
loan agreement with Xiaoshan Rural Commercial Bank of RMB3,000,000 bearing an interest rate of 6.30% per annum. The loan was guaranteed
by a third-party entity, Hangzhou Financing Guarantee Group Co. The loan was fully repaid in May 2024. |
| |
|
| (ii) |
On November 14, 2022, Fit-One entered into a one-year loan agreement
with Zhejiang Mintai Commercial Bank of RMB1,000,000 bearing an interest rate of 7.16% per annum. The loan was guaranteed by Mr.
Conggang Chen, Ms. Minghui Liu and Ms. Lianying Zhu. The loan was fully repaid in October 2023. |
| |
|
| |
On October 19, 2023, Fit-One entered into a one-year loan agreement with Zhejiang Mintai Commercial
Bank of RMB2,000,000 bearing an interest rate of 6.29% per annum. The loan was guaranteed by Mr. Conggang Chen, Ms. Minghui Liu and
Ms. Lianying Zhu. The loan was fully repaid in October 2024. |
|