v3.26.1
Leases
12 Months Ended
Mar. 31, 2026
Leases [Abstract]  
Leases

13 LEASES

The Group has operating leases primarily for office facilities which have lease terms varying from one to three years.

Total lease costs for the years ended March 31, 2024, 2025 and 2026 were RMB6,803, RMB2,138 and RMB1,518, respectively, included in research and development, sales and marketing and general and administrative expenses in the Group’s Consolidated Statements of Operations and Comprehensive (Loss)/Income. Out of the total lease costs, there were RMB2,718, RMB244 and RMB1,052 of expenses for short-term leases within 12 months for the years ended March 31, 2024, 2025 and 2026, respectively. As of March 31, 2025 and 2026, the operating lease arrangements of the Group, primarily for office, that have not yet commenced was not material.

Supplemental cash flow information related to leases were as follows:

For the year ended March 31,

 

 

For the year ended March 31,

 

2025

 

 

2026

 

RMB

 

 

RMB

 

 

 

 

 

 

 

Cash paid for the rentals included in the lease liabilities

 

1,933

 

 

 

782

 

Right-of-use assets obtained in exchange for lease liabilities

 

197

 

 

 

546

 

 

As of March 31, 2025 and 2026, supplemental consolidated balance sheet information related to leases were as follows:

 

As of March 31,

 

 

As of March 31,

 

2025

 

 

2026

 

RMB

 

 

RMB

 

Right-of-use assets

 

941

 

 

 

1,054

 

Current portion of lease liabilities

 

620

 

 

 

529

 

Non-current lease liabilities

 

352

 

 

 

239

 

 

Lease term and discount rates were as follows:

As of March 31,

 

 

As of March 31,

 

2025

 

 

2026

 

RMB

 

 

RMB

 

Weighted-average remaining lease term

 

 

 

 

 

Operating leases

2.75 years

 

 

2.01 years

 

Weighted-average incremental borrow rate

 

 

 

 

 

Operating leases

 

3.60

%

 

 

3.39

%

 

 

As of March 31,

 

2026

 

RMB

 

Maturities of lease liabilities were as follows:

 

 

 2027

 

549

 

 2028

 

245

 

Total undiscounted lease payments

 

794

 

Less: imputed interest

 

(26

)

Total present value of lease liabilities

 

768