v3.26.1
Investments (Tables)
12 Months Ended
Mar. 31, 2026
Summary of Long Term Investments

The Company’s long-term investments consist of the following:

 

As of March 31,

 

 

2025

 

 

2026

 

 

RMB

 

 

RMB

 

Available-for-sale debt securities

 

 

 

 

 

 

Jimi

 

 

5,459

 

 

 

3,632

 

iSNOB

 

 

 

 

 

 

Juesekuangxiang

 

 

 

 

 

 

Jiangxi Chengqianqihou

 

 

 

 

 

 

Others

 

 

2,296

 

 

 

1,936

 

 

 

7,755

 

 

 

5,568

 

Equity securities without readily determinable fair value

 

 

 

 

 

 

Target Company

 

 

 

 

 

100,000

 

 

 

 

 

 

 

100,000

 

Equity method investments

 

 

 

 

 

 

Jiaxing Neixiangyoupan Equity investment Fund Partnership
   (limited partnership) (“Neixiangyoupan”)

 

 

25,417

 

 

 

24,455

 

Hangzhou Chengqianqihou Food Supply Chain Co., Ltd. (“Hangzhou Chengqianqihou”)

 

 

8,750

 

 

 

8,743

 

Ruisha Technology

 

 

 

 

 

16,546

 

Others

 

 

8,049

 

 

 

9,696

 

 

 

42,216

 

 

 

59,440

 

Total

 

 

49,971

 

 

 

165,008

 

Schedule of Available-for-sale Debt Securities

The following table summarizes, by major security type, the Company’s available-for-sale debt securities as of March 31, 2025 and 2026:

 

As of March 31,

 

 

2025

 

 

2026

 

 

RMB

 

 

RMB

 

Cost

 

 

8,459

 

 

 

8,459

 

Unrealized losses, including foreign exchange adjustment

 

 

(704

)

 

 

(783

)

Impairment losses

 

 

 

 

 

(2,108

)

Fair Value

 

 

7,755

 

 

 

5,568